US power rests on a pedestal of dollars. As the world’s reserve currency, this funny money made it possible for the US to spend more than it could afford — year after year.
At 0530 today gold was at $4188. On Jan 29th it was $5543, so minus $1355, or down about 24%. We all know there's a game being played here but we also know, as history shows, gold always comes out on top in the end. Until the day come that I may have to sell some, the drop has no impact on me. I am happy to sit and wait for the game to play out. There's a good reason ALL THE CENTRAL BANKS continue to buy gold, they understand history.
Well Bill I am the enteral optimist when it comes to America and the American people, in contradistinction to those whom govern us. After the constitutional convention Ben Franklin was ask what kind of government do we have, and he retorted "A Republic, if you can keep it". Have we kept it? Well sort of. But the emmies are not only at the gate but are on the the other side of the gate, and in our midst looking right at us and using the very principles of the Republic to destroy it. Yes, but we are American, we have the rule of law, we have capitalism, we have Christianity, we have the Bill of Rights, and we have the tried and true Amercanized British Common Law including the power of patent law within the context of a capitalist economy. And now we have Al whose development is supported and enhanced by all of the aforementioned. So, yes I have optimism for this great country we live in notwithstanding those whom would destroy us.
While I applaud your hopism from my view those that are destroying "our" America have infiltrated our government agencies at all levels. Ol' Ben Franklin believe in a republic where no one made a career out of being a politician. Today that is - for the most part - all that there is. And, while there are a few such as Rand Paul, the vast majority are doing what they are told after being bought and pay for in their campaign chests or other favors. So sad and where was the outrage for Tom Massie - or for the childrens slaughter in Iran and again in Russia. Plus the genocide in Gaza and Lebanon. How can we have "hopism" when there is no way to turn the clock back, to fix the system, and to have the Constitution upheld. The Empire is falling fast and while people think the US$ is going to still be the best fiat currency, the only reason is everyone (governments, corporations, individuals) have too many US$ and are trying to figure out how to get the most out of those. But this too shall gain traction and the flight from the US$ will accelerate. Going to be ugly - especially for us peons. Enjoy life while you can and as Toby Keith lamented - Try to love on your wife, And stay close to your friends, Toast each sundown with wine, Don't let the old man in.
Bill, You always provide a masterful explanation of the problem; that is, those whom we elect to serve in various Federal offices to represent our interests never appropriate monies that more closely match the revenue acquired from the taxes it assesses.
To stay in office, the incentive for these elected Federal government officials appears to be never say no to whomever wants to frolic in the public trough.
What will change them from being debt junkies into good stewards of the public purse?
Government is a necessity. The US government, formed by a group of men, for the benefit of all men, is unique.
The world has progressed in astonishing ways, the unique Americans were in the forefront.
What was is not what is. People and institutions have been adulterated. Values have changed,the yeast and the salt has lost its flavor, allowing the underlying Spirit to be corrupted.
The people,like the Israelites in the dessert, wax cold, bear no good fruit.
Salvation is always a possibility; ruin breeds new attitudes…hopefully.
Paul -- I agree with you that humans are flawed. But I don't agree that governments always fail.
After all, "governments" include all manner of organizations. Condo associations, school boards, scout troops, stamp clubs, etc. come to mind.
Most of these are voluntary; and the vast majority of them don't fail - they disband yet many endure (Churches come to mind).
But the governments that are prone to fail are those with tax & spend authority.
Yet some of these endure. England's parliamentary government has been around for centuries.
More to the point: I don't think ours will fail or dissemble.
However, when we reach the point where only the US Treasury will buy our debt, a step triggering massive inflation, there will be a great re-set.
The re-set will require a serious reduction of Federal benefits including social security and entitlements (which are not subject to Congressional appropriations).
School boards don't fail? Wow! I didn't know that! Still, I'll concede your point.
Many believe, however, that the parliaments of Europe have failed, and egregiously so. I'm not going to argue; as I said, I concede your point, that if we look hard enough, we'll find some success stories. And I hope you get your wish, and I understand. Living through the decline has been frustrating enough. Best always. PM
sure, like all dogs bark .. you asked for countries .. maybe your leader can offer to buy them since they are all the same .. such ignorance deserves better but I'm to old to bother ..
Yes we have passed the Rubicon it looks like but there is a small thought that we are a free people and will solve these problems you know good old American problem solving and stick- to itness.Seems far fetched now.As usual there is no one including Bill on how to solve this or these problems.We get what is wrong and how we got here ad infinitum.From now on Bill and the rest of us geniuses should start only talking about solutions if there are any,that’s the hard part.
great summation of history Bill .. the collapse will come but as we know the timing of such events is running on a much bigger scale than the 'puny' lifetime of a modern human .. or time left here is short but it has been fun .. now others more intelligent and wise will take over and elect wisdom (Dr Ron Paul) over stupid blowhard consistent failure self righteous arrogance like Nero Caligula or all the other self proclaimed great imposters those after us elected this sort of social cultural abortion to lead & represent them .. now they will have to pay the price for that stupidity .. as ALL boomers are guilty of sitting on their hands and allowing it to happen!
So let it be done and pass another of the Malbec bottles if only we could get it to those in foreign lands please? I'm desperate for a good drop to help pass the time and numb the pain ..!
I left a comment $400 dollars ago 10 days ago that gold was going down significantly… still looks like knife through butter to me. Forced liquidation is the name of the game. The Dow/gold ratio is at 12.4 up from 9.2 only 15 weeks ago.. that’s about a 38% rise! Yikes! In only 15 weeks mind you. With Warsh signaling a rate hike in July you gold bugs better check your underwear.
I'd be worried about gold if I thought the USA was going to balance its budget, pay off its debts, stop starting-and-losing wars, and elect an honest and caring government of-the-people; so I'm not worried at all.
Meantime, its a great show, with tariffs against penguins (no exports), the PRC (shrugged and increased exports), sanctions aplenty (>reduction of USD use), murdering cocaine runners in order to steal oil (?!), threats against allies, love and kisses to Putin and Xi, and I'm presently getting some amusement from the proposed ARMA bill.
At 0530 today gold was at $4188. On Jan 29th it was $5543, so minus $1355, or down about 24%. We all know there's a game being played here but we also know, as history shows, gold always comes out on top in the end. Until the day come that I may have to sell some, the drop has no impact on me. I am happy to sit and wait for the game to play out. There's a good reason ALL THE CENTRAL BANKS continue to buy gold, they understand history.
Sit back and enjoy the ride.
Jim Marshall
Central banks are notoriously bad at timing buying and selling gold. Britain sold every ounce of gold at $200 back in the late 70s.
Well Bill I am the enteral optimist when it comes to America and the American people, in contradistinction to those whom govern us. After the constitutional convention Ben Franklin was ask what kind of government do we have, and he retorted "A Republic, if you can keep it". Have we kept it? Well sort of. But the emmies are not only at the gate but are on the the other side of the gate, and in our midst looking right at us and using the very principles of the Republic to destroy it. Yes, but we are American, we have the rule of law, we have capitalism, we have Christianity, we have the Bill of Rights, and we have the tried and true Amercanized British Common Law including the power of patent law within the context of a capitalist economy. And now we have Al whose development is supported and enhanced by all of the aforementioned. So, yes I have optimism for this great country we live in notwithstanding those whom would destroy us.
While I applaud your hopism from my view those that are destroying "our" America have infiltrated our government agencies at all levels. Ol' Ben Franklin believe in a republic where no one made a career out of being a politician. Today that is - for the most part - all that there is. And, while there are a few such as Rand Paul, the vast majority are doing what they are told after being bought and pay for in their campaign chests or other favors. So sad and where was the outrage for Tom Massie - or for the childrens slaughter in Iran and again in Russia. Plus the genocide in Gaza and Lebanon. How can we have "hopism" when there is no way to turn the clock back, to fix the system, and to have the Constitution upheld. The Empire is falling fast and while people think the US$ is going to still be the best fiat currency, the only reason is everyone (governments, corporations, individuals) have too many US$ and are trying to figure out how to get the most out of those. But this too shall gain traction and the flight from the US$ will accelerate. Going to be ugly - especially for us peons. Enjoy life while you can and as Toby Keith lamented - Try to love on your wife, And stay close to your friends, Toast each sundown with wine, Don't let the old man in.
Tom, I think we have screwed up the Republic concept. I hope we can bring it back.
Jim Marshall
Bill, You always provide a masterful explanation of the problem; that is, those whom we elect to serve in various Federal offices to represent our interests never appropriate monies that more closely match the revenue acquired from the taxes it assesses.
To stay in office, the incentive for these elected Federal government officials appears to be never say no to whomever wants to frolic in the public trough.
What will change them from being debt junkies into good stewards of the public purse?
"those whom we elect to serve"
The system is built on a false premise: so-called self-government. Humans are flawed by nature. Governments always fail. Best always. PM
Government is a necessity. The US government, formed by a group of men, for the benefit of all men, is unique.
The world has progressed in astonishing ways, the unique Americans were in the forefront.
What was is not what is. People and institutions have been adulterated. Values have changed,the yeast and the salt has lost its flavor, allowing the underlying Spirit to be corrupted.
The people,like the Israelites in the dessert, wax cold, bear no good fruit.
Salvation is always a possibility; ruin breeds new attitudes…hopefully.
Government may be a necessity, but it seems like it always gets out of hand. I wonder why? Thanks for weighing in. Best always. PM
The necessity to govern derives from human traits.
The sun and moon do not need the government.
Nature is a constant turmoil at odds with herself, never at rest, never at peace.
-
That wise men came together and agreed to conform for the benefit of all.
Is not natural.
Not just unique!
Truly akin to a miracle!
-
That society now urinates on this is where we have failed.
Education is the primary distinction between man and nature.
And at the moment it appears we are rather stupid...
Isn't it nature is flawed by humans?
I like that.
Jim Marshall
Paul -- I agree with you that humans are flawed. But I don't agree that governments always fail.
After all, "governments" include all manner of organizations. Condo associations, school boards, scout troops, stamp clubs, etc. come to mind.
Most of these are voluntary; and the vast majority of them don't fail - they disband yet many endure (Churches come to mind).
But the governments that are prone to fail are those with tax & spend authority.
Yet some of these endure. England's parliamentary government has been around for centuries.
More to the point: I don't think ours will fail or dissemble.
However, when we reach the point where only the US Treasury will buy our debt, a step triggering massive inflation, there will be a great re-set.
The re-set will require a serious reduction of Federal benefits including social security and entitlements (which are not subject to Congressional appropriations).
I hope I'm not around when this re-set occurs.
School boards don't fail? Wow! I didn't know that! Still, I'll concede your point.
Many believe, however, that the parliaments of Europe have failed, and egregiously so. I'm not going to argue; as I said, I concede your point, that if we look hard enough, we'll find some success stories. And I hope you get your wish, and I understand. Living through the decline has been frustrating enough. Best always. PM
Good government stewards?
Please list the countries where this occurs...
Finland Norway Sweden Denmark
Wow...how can that be?
They're all of the same culture, race and customs.
-
Here in the U.S. "diversity is our strength"... bwahahaahahaha!
sure, like all dogs bark .. you asked for countries .. maybe your leader can offer to buy them since they are all the same .. such ignorance deserves better but I'm to old to bother ..
I see you don't sarcasm much.
...Entschuldigung.
mazeltof
"Brother, can you spare a dime?" haha! Ali
Yes we have passed the Rubicon it looks like but there is a small thought that we are a free people and will solve these problems you know good old American problem solving and stick- to itness.Seems far fetched now.As usual there is no one including Bill on how to solve this or these problems.We get what is wrong and how we got here ad infinitum.From now on Bill and the rest of us geniuses should start only talking about solutions if there are any,that’s the hard part.
great summation of history Bill .. the collapse will come but as we know the timing of such events is running on a much bigger scale than the 'puny' lifetime of a modern human .. or time left here is short but it has been fun .. now others more intelligent and wise will take over and elect wisdom (Dr Ron Paul) over stupid blowhard consistent failure self righteous arrogance like Nero Caligula or all the other self proclaimed great imposters those after us elected this sort of social cultural abortion to lead & represent them .. now they will have to pay the price for that stupidity .. as ALL boomers are guilty of sitting on their hands and allowing it to happen!
So let it be done and pass another of the Malbec bottles if only we could get it to those in foreign lands please? I'm desperate for a good drop to help pass the time and numb the pain ..!
I think the timing is outside our lifetimes.
Jim Marshall
sadly your right, watching the previews gets boring but the climax will be fun to see!
That is three in a row Bill!
As I understand, the increase of gold at Central Banks is mostly due to the increase of the price of gold.
I left a comment $400 dollars ago 10 days ago that gold was going down significantly… still looks like knife through butter to me. Forced liquidation is the name of the game. The Dow/gold ratio is at 12.4 up from 9.2 only 15 weeks ago.. that’s about a 38% rise! Yikes! In only 15 weeks mind you. With Warsh signaling a rate hike in July you gold bugs better check your underwear.
No problem, I bought in 2015.
I'd be worried about gold if I thought the USA was going to balance its budget, pay off its debts, stop starting-and-losing wars, and elect an honest and caring government of-the-people; so I'm not worried at all.
Meantime, its a great show, with tariffs against penguins (no exports), the PRC (shrugged and increased exports), sanctions aplenty (>reduction of USD use), murdering cocaine runners in order to steal oil (?!), threats against allies, love and kisses to Putin and Xi, and I'm presently getting some amusement from the proposed ARMA bill.
Pass the popcorn, and hold the gold.
mazeltof ..