It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by Vitchilo
ON CNN? :
Is this finally the economic collapse?
You know it's bad when CNN of all people is badmouthing Obama's recovery.
[edit on 11-8-2010 by Vitchilo]
"Such quarter-on-quarter growth has never been recorded before in reunified Germany," the national statistics office, Destatis, said.
The main reason for the higher-than-expected growth was strong exports, helped by a weaker euro.
The eurozone economy grew by 1% during the quarter.
Foreign Banks Reap Benefits of TARP
The report by the Congressional Oversight Panel found that the U.S. financial aid package helped foreign banks far more than their rescue packages aided American companies.
"While the United States attempted to stabilize the system by flooding money into as many banks as possible -- including those that had significant overseas operations -- most other nations targeted their efforts more narrowly toward institutions that in many cases had no major U.S. operations," the report noted.
Not only did TARP money go into the coffers of foreign financial institutions, but U.S. taxpayers also shouldered the entire burden in the event that some of the aid doled out to banks could not be recouped.
How duplicitous can the government be? It seems the Fed will stop at absolutely nothing in their fever to combat the concept of gold being legitimate money (of course, the Fed is afraid that in due time Americans will realize that gold is the ultimate money and that the garbage the federal reserve creates [ Federal Reserve Notes we mistakenly called dollars ] is only worth anything at all because the law says it is [it is money by fiat ]. Federal law says that these slips of printed cotton and linen are legal in payment of all debts...
Question -- Why do we, the people, allow the government to get away with it?
Answer -- Democracy depends on an INFORMED electorate. (emphasis author's) As a group, the American voters are dismally ignorant...
On page 187, the authors theorize that, at some far distant future date, some international assemblage will devise an international monetary system, independent of gold or any other metal, that "will be inflation-free because the system that controls the supply of IMUs [International Monetary Units] will be set up to avoid it." In all of man's history, gold is the only standard which has ever met that requirement! And human nature being what it is: How naïve can you get?
Originally posted by GreenBicMan
reply to post by time91
You aren't getting it yet.
What makes the metals market so much more important than lets say the Sugar Market or Lean Hogs?
Gold/Silver Price Fixing Condensed
In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999. Mr. George said "We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake."
Where is the board expert Green Bic Man?
Canada’s economic recovery ‘by no means a sure thing,’ expert says
Paul Krugman, a Nobel Prize winner, New York Times columnist and renowned economic pundit, described Canada as “a very calm, very happy story” during the world economic crisis. Read more: www.vancouversun.com...
“But in the long term, instability and the waste of human potential, which are a direct result of a systematic suppression of individual rights and economic freedom, will invariably cause its downfall.” Read more: www.vancouversun.com...
China has restricted exports of rare earth minerals by more than 70pc in the second half of this year, cutting off the world supply. China produces 97pc of these minerals, used in a wide range of high-tech industries, from hybrid engines to computers, mobile phones, radar, navigation and precision-guided weapons.
Renowned gold expert Jim Sinclair adopted this explanation. The panic came when people mistook a lease for a swap, he argues. Far from being a big release of gold into the market, it is simply a commercial arrangement between the IMF and BIS with a favourable rate of interest paid for the foreign currency.
"Gold swaps are usually undertaken by monetary authorities," he writes on his industry blog, MineSet. "The gold is exchanged for foreign exchange deposits with an agreement that the transaction be unwound at a future time at an agreed price.