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Gold Standard Returns!!!--Indiana State Senator Files Gold Money Bill!

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posted on Jan, 18 2009 @ 01:05 PM
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reply to post by cognoscente
 


The year 2000 and Saddam Hussein stops using the enemies currency...


Prague, 1 November 2000 (RFE/RL) -- Iraq is going ahead with its plans to stop using the U.S. dollar in its oil business in spite of warnings the move makes no financial sense.


This one seemingly small event changed the world completely. Up till that moment all oil trades were conducted in USD ONLY. No matter who trades oil the sale is done in USD. All of our worthless paper stays out flowing around the world. If OPECs start using other currencies then all of that worthless paper comes home.

Saddam could have blown a chunk off the Earth and he would have gotten another smack. Switch to the EURO and then the USA brings out the WMDs of their own to prevent all the OPECs from doing the same thing. Now we spent trillions to keep direct pressure on the Mideast.

Hence the mess we are in!




posted on Jan, 18 2009 @ 01:58 PM
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I don't want to interrupt the dialogue, or attempt overwhelm you Don; I'd just like to pose a question in regard to Gold.


Originally posted by donwhite
Money (or gold) In a Lockbox is Useless; It's Money in Motion That's Useful!


No disputing the importance of MM, but why in your opinion would the US continue to hold the majority [75%] of it's reserves in...Gold...a dead, Useless asset...as opposed to Useful currency exchange?

Not a trick question. Obviously there are valid reasons for world CB's to hold Gold reserves...there are popular opinions on this issue...and I have a few of my own. Just curious what yours might be Don.

When you have the time.



posted on Jan, 18 2009 @ 02:47 PM
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reply to post by mybigunit
 




The FED doesn’t need to isolate the government from how to spend money the government needs to do that on their own. That’s what they were elected to do. I think the FED needs to be put under government control and we need to go back to the gold standard. The FED has failed. Putting back in control of the government puts it back into the hands of the people instead of the interests of a special few. The gold standard limits what the government can do or spend.



Mr M/B/U, you are not mixing apples and oranges, you are mixing rye whisky with ox carts. There is no lowest common denominator. US Con. Art. 1, Sec. 9, Clause 6: “No money shall be drawn from the treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time.”

I’m not sure how the interlocking financial instruments held by banks around the world which apparently are being guaranteed by the US Federal Reserve System figures into this. I am of the opinion we could and maybe should let most of those banks go under. Suffice it to say, the US cannot default on anything bearing our imprimatur, lest we be for too long out of the loop.

The Fed has not failed its assigned mission. IMO. If either Paulson or Bernacke had any self respect, they would have resigned for gross failure early in ‘08. But neither has nor will.




Our Republic ended with the civil war. The individual states have no rights anymore. We are all just one piece under a central government which as of now is new a dictatorship status. If you want proof of that why should my tax dollars I pay go to save states like California? The government is about to use my money to bailout out welfare states. Why? Why should people in Montana pay for hurricane cleanup in places like Florida (where I live) and Louisiana. Why do these states not charge a tax for cleanup efforts and put it into a fund? Our Republic is indeed dead my friend.



I am a STRONG central government advocate. As you are now witnessing first hand it is ONLY a strong central government can accomplish the task in front of us.

I like Kentucky’s state motto, “United We Stand, Divided We Fall.” It can be no other way. I am not being accusatory but the doctrine of State’s Rights has stood for everything but “rights.” I say it is really State’s Wrongs! It may have had some merit - I would not even grant that - before the telegraph was invented - 1858 - or the first transcontinental railroad was finished - 1868 - but after that, states rights has been used 1) to subdue the black citizens with Jim Crow and 2) to exploit cheap labor in the south. States should be reduced to ZIP codes only.



posted on Jan, 18 2009 @ 03:02 PM
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reply to post by OBE1
 




No disputing the importance of MM, but why in your opinion would the US continue to hold the majority [75%] of it's reserves in... Gold... a dead, Useless asset... as opposed to Useful currency exchange? Not a trick question. Obviously there are valid reasons for world CB's to hold Gold reserves... there are popular opinions on this issue... and I have a few of my own. Just curious what yours might be Don. When you have the time.



My short answer is: I don't know. As the world’s largest and richest entity, the US Government not only has gold, silver and copper, but it has nickel, palladium and other elements in short supply. That’s national security. The US might even hold diamonds along with the 900 million barrels of oil under its oversight. In short, we have in reserve everything we need to make a country run, at least for a while.

I don’t know exactly how the proportion - 75% - comes into play. It could be a comparison by value. Or the US may hold 3/4ths of the world’s gold. But of this one thing I am sure, the US is not BACKING its currency with any precious metals.



posted on Jan, 18 2009 @ 03:21 PM
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reply to post by Alpha_Magnum
 




Iraq is going ahead with its plans to stop using the U.S. dollar in its oil business in spite of warnings the move makes no financial sense. This one seemingly small event changed the world completely. Up till that moment all oil trades were conducted in USD ONLY. No matter who trades oil the sale is done in USD. All of our worthless paper stays out flowing around the world. If OPECs start using other currencies then all of that worthless paper comes home.



The European Union has seen its reach exceed its grasp. The EU should have laid back a decade or two, to consolidate the significant gains it has made and brought to Europe. Whether it can withdraw from its overly ambitious expansion plans and save face at the same time is problematic. Yes, it is true France and Germany will now shuffle around the dance floor at the same time, swaying and dipping to the same tune, but neither has yet to embrace the other. Which will exert the MOST influence remains to be decided.

Hindsight makes it all the more obvious the EU should have drawn a line from the Baltic to the Black Sea and declared, “NOT further east NOR south shall we go in this generation.”

Western Europe is not Eastern Europe. The effort to bring in the Baltic states and the smallish former USSR provinces of Belarus and Moldova and the larger Ukraine was wrong. And for what gain did the EU anticipate? That move spits in the face of the Russians. The RF thinks the EU has become a US proxy. To dare Russia is not a smart thing to do. Russia can be like a cornered bear. The most dangerous beast in the whole dam zoo! Just as the US is learning in Georgia. Don’t push the bear!

Turkey is another example of moving too fast. Turkey is not yet 90 years post Ataturk. Turkey is much like most of the other Muslim states. Ruled over by small cliques of western educated elites that are barely in touch with the large majority of traditional Muslims still living for the most part In the 19th century. Say hello Pakistan! Hello Eqypt. Hello Saudi Arabia.

I said a lot to say this. The Euro is an IFFY currency at its best. France and Holland and then Ireland have VETOED the proposed EU Constitution. Over 300 pages long! On its face, any document that long must be rejected. Refer to the Magna Carta or US Constitution for a good length fundament document.

If the EU cannot even get its fundamental document right the Euro is not a threat! An irritant, but not yet a threat to the dollar. For that you have to look EAST!

[edit on 1/18/2009 by donwhite]



posted on Jan, 18 2009 @ 03:42 PM
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reply to post by donwhite
 


What can I say except you completely missed the point. All that matters to the USA is that all oil bought and sold in the world is traded in US Dollars PERIOD. Saddam could have gone to the Yen or any other so he decided to go to the EURO. This forced the US to take military action since other OPEC nations were also looking at other options.

Those are in fact the Axis of Evil nations. The point being that the US has now bogged itself down in Iraq to guard the oil. Trillions of dollars later and now the whole thing is falling apart. The USA has lost it's dollar hegemony!



posted on Jan, 18 2009 @ 04:13 PM
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reply to post by Alpha_Magnum
 




What can I say except you completely missed the point.



I have been known to do that.




All that matters to the USA is that all oil bought and sold in the world is traded in US Dollars PERIOD. The USA has lost it's dollar hegemony!



I agree - I think I do anyway - with part of what you say above. I disagree however with your conclusion.

My point is that there is still only ONE world reserve currency. The USD. The Euro is the only currency that comes close to being competitive. The Chinese Yuan is not going to be allowed to float, so it is out of the running on its own volition. The Japanese are through with playing on the world stage. No other country can compete.

I can’t recall the year or years, but once before OPEC tried to introduce some form of OPEC vouchers to use in the oil commodity market. It never got off the ground. That’s because a guy in Mozambique who wants to buy a beef steak from the Argentine must pay in USD. Neither needs OPEC oil vouchers. Even a rich guy in Qatar loaded with OPEC petro dollars still needs USD for the rest of his goods and services.

Right now, I see no immediate threat to the supremacy of the USD in the global market.



posted on Jan, 18 2009 @ 05:32 PM
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reply to post by donwhite
 


Hi Don,
The USA can't afford these wars at all. They are strictly resource control related. Saddam's switch to the EURO triggered what we see happening now. Numerous OPEC's have expressed desire to drop the USD. The USA went to Iraq as a show of force like any gang would do to protect its rackets.

This force approach is holding off a wider dollar revolt but we are bogged down! Trillions in the rear.

U.S. NATIONAL DEBT



posted on Jan, 18 2009 @ 06:27 PM
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reply to post by Alpha_Magnum
 




Hi Don, The USA can't afford these wars at all. They are strictly resource control related. Saddam's switch to the EURO triggered what we see happening now. Numerous OPEC's have expressed desire to drop the USD. The USA went to Iraq as a show of force like any gang would do to protect its rackets. This force approach is holding off a wider dollar revolt but we are bogged down! Trillions in the rear.



I purposely skipped over this observation earlier. I not only showed why the Euro is a paper tiger, I pointed out the OPEC crew - about 40% of current production - can’t “eat” oil either. Sitting on an ocean of crude gets you no new Mercedes. It’s just redundant to what I already replied to.

I have no quarrel about our TRUE intentions in Iraq. Anybody who can read can see that a long time ago. Bush43 is not that shrewd.

And you are right about the DoD budget killing us. But you have not dealt with the genuflect response Americans give to the demagogue’s old cry of “National Security” and to our death wish for PREEMINENCE in the War Game as IF we were threatened on every front. I have put it like this, Americans LOVE a war we are winning but American HATE a war we are losing.

Truth is, we are threatened from Mexico but historically we have killed any democratic government there every time it gets close, and the current gang is hand in glove with the drug importers into the US. And let’s not kid ourselves we can SECURE a 1,900 miles long border. We’ve been trying since 1969 when Nixon declared the War on Drugs. Until we can get over our mental block and legalize 3 or 4 levels of drugs OTC, then we are stuck!



posted on Jan, 18 2009 @ 08:47 PM
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I'm surprised no one has spoken of the Islamic Gold backed Dinar on this thread.

From what I understand, the OPEC nations are working on creating their own gold backed Dinar. They are looking to create thier own regional currency though one backed by precious metals.

China and Japan are still holding onto to too many dollar reserves in their Central banks to allow the dollar to crash just yet. They are anxious to unload their US currency stockpiles and are doing so little by little though this will take time to unload the bulk of the currency without causing it to crash, therefor, they are likely to attempt to keep the US dollar alive in the short term.

I predict the US dollar will rise in value in the short term and crash and become severely devalued by the end of this year. Either way, it will have to be depreciated in value if it is to survive. This will affect the value of savings of those who hold 'too many' US dollar denominated assets too long. Better to diversify the currencies in which your assets/savings are 'valued' with.

In my opinion, it's best to hold at least 25% of ones worth in precious metals and/or precious metals stocks/ETFs, own at least 10 acres of good fertile farmland with fresh water per family and a combination of US and foreign investments as well a good firearm/rifle or two with loads of ammo. Even ammo itself may become a highly prized commodity in the near future. It has in the past. One can't put a 'price' on their freedom and with all the economic and political chaos to take place this year, you most likely will wish you had some 'protection' from whomever may knock or burst through your door.

Good reading below:

Islamic gold backed Dinar


[edit on 18-1-2009 by Perseus Apex]



posted on Jan, 18 2009 @ 09:35 PM
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Originally posted by Anonymous ATS
most, if not all, of the fort Knox gold is in Saudi arabia to pay for all that oil the USA imported.


All that gold and they still let Citibank die. Go figure. It must be nice to live in a world where if you have oil you don't have to produce food. I guess the Saudi's get their food for free.

All must be part of some master plan.



posted on Jan, 18 2009 @ 09:49 PM
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reply to post by Perseus Apex
 




. . own at least 10 acres of good fertile farmland with fresh water per family and a combination of US and foreign investments as well a good firearm/rifle or two with loads of ammo. Even ammo itself may become a highly prized commodity in the near future. It has in the past. One can't put a 'price' on their freedom and with all the economic and political chaos to take place this year, you most likely will wish you had some 'protection' from whomever may knock or burst through your door.



There have been a number of movies featuring this theme. A couple were pretty good, IMO. Most are not. Maybe the classic of the genre is the 1959 “On the Beach.” a post-apocalyptic drama staring Gregory Peck as captain of the USS Sawfish which was submerged when the nuclear exchange occurred . . the film was remade as an Australian television film by Southern Star Productions in 2000.

We have also had a number of survivor threads to which I have made a minor contribution. On that score, water and fresh air are the two most immediately consequential requirements that must be met. Water is best stored in the dark in glass jars and a few drops of Clorox bleach added just before sealing. I’d refresh the water every year. On air, a multi-layer charcoal filter looks best. The air pump must be capable of hand operation as power will be very problematic.

The down and dirty is the firearms needed for self defense. Suppose you end with 5 people sharing the shelter. A quick inventory shows enough food and water for about 8-9 days. Earlier reports had warned everyone to stay in their shelter for 14 days to avoid radioactive fallout. Two days in and your shelter is put on half rations just to be on the safe side.

Your three next door neighbors come banging on your shelter door asking for admission. The mother and the father. And their 5 year old child born with cystic fibrosis. “We’ve run out of water,” the father says. "Please let us in."

What do you do?

Your decision will have life and death effects on the 4 other people in your shelter and on the 3 people seeking admission as well. If you were alone, you’d have to admit the people seeking help. But you are not alone.

You say, "hasta la vista, go in peace!"

And you cock your .40 cal. S&W M1076. JIC. Just in case.

[edit on 1/18/2009 by donwhite]



posted on Jan, 18 2009 @ 09:51 PM
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Originally posted by tjeffersonsghost

Originally posted by Bl0rg
This will never pass because its a part of the NWO agenda to steal everything that is worth money(gold, property) from regular folk and give then valueless crap back only by debt(our current currency)



I dont know man I think the rage is growing. More and more people are becoming aware of what the FED is about. The movement is growing. DK is pushing now also...



DK is my favorite.........if ever there was a politican i could believe in

I liked his economic advisor and read anything he spews out but try to carefully digest it (michael hudson /historian/author)

As the debt based consumer backed economy craps out CLASS WARFARE is in full effect. The elite class with leverage in the judiciary system HAS BEEN MOVING AND PLANNING to make sure there standard of living is maintained at the expense of seemingly helpless tax payers and they (elite class) are getting an assist from the majority of "sellout's" in congress who get there shots called by corporate lobbyists and industry lawyers. forget america vs. iraq or afghan.....look at creditors vs. debtors.....owning class vs. working class.... Media is putting on a full court press to make it look like the politicos are still giving a crap about us but it is becoming clear to most that this is a fabrication. Now the elite pull there trump card to lull the masses back to sleep. Obama......(now i don't have anything necessarily bad to say about his character) but he is a puppet and his hands will be tied....but he gives the sheeple hope and gives the ELITE more hope that his presidency will stem the REVolutionary undercurrent growing as the economy tanks for anyone not in the elite class. WATCH how when criticism about obama (No REAL change) grows the race card will be played to turn us against ourselves.

p.s The thread topic does have my attention going forward though should it gain momentum it may get interesting


[edit on 18-1-2009 by cpdaman]



posted on Jan, 18 2009 @ 10:24 PM
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Originally posted by donwhite
As the world’s largest and richest entity, the US Government not only has gold, silver and copper, but it has nickel, palladium and other elements in short supply. That’s national security. The US might even hold diamonds along with the 900 million barrels of oil under its oversight. In short, we have in reserve everything we need to make a country run, at least for a while.


Thanks Don. Well, I was referring to "Official Gold Reserves"...US treasury Gold ostensibly vaulted by the US Mint as "Deep Storage"...not estimated resources...in the ground...and controlled by private mining interests. Hard to find exact figures, but aside from oil, the US began liquidating it's Strategic Stockpile of critical commodities around 92 Don. Another dismal example of poor planning.

The public perception is that Official Gold Reserves are held as a hedge against potential emergencies...war [financing]...an unforeseen, severe spike in inflation...a sudden downgrade in sovereign debt...default. All of the above, but basically to inspire foreign & domestic confidence in a country's currency. In that respect, I think the US Gold Reserve is actually working overtime at the moment. Stay tuned, with other major currencies teetering...the sheep have led back to Uncle-Buck...but I wouldn't get-up to go to fridge just yet.

As with most public monetary policies and manipulated economic data, the "US Gold Reserve" serves at least one shadow function.

First thing to understand is that the Federal Reserve owns all of the Gold Certificates issued by the US Treasury. The certificates represent Treasury obligations. Yes, the "US Gold Reserve", actually belongs to a private banking cartel as you stated. As a result, the 261MMoz "Gold Reserve" appears as an "asset" on the Federal Reserve Balance Sheet...lends value against it's liabilities (our physical currency for one)...and inspires confidence in it's ability to perform. Legitimate I guess...since the Fed owns a claim in the form of Gold Certificates against every ounce.

Here's the sleight-of-hand...the Fed also publishes total US Reserve Assets, a record showing all of the Treasury's international monetary assets. Rather than recording a Treasury liability for 261MMoz...the liability associated with the issuance of Gold Certificates, the same 261MMoz "Reserve" appears as a line item "asset" under Treasury Gold Stock


Some might politely call this; Double-Dipping. I call it a Confidence Game


Edit: The U.S. Strategic Stockpile Is Gone…Now What?


[edit on 19-1-2009 by OBE1]



posted on Jan, 18 2009 @ 10:39 PM
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reply to post by cpdaman
 


Unfortunate but true, Dennis Kucinich wants the 2nd Amendment abolished even though he apparently carries. Everything sounds great but then we get to NO GUNS. They all want the guns but someone that knows those are our "Liberty Teeth" should never ask for that!



posted on Jan, 18 2009 @ 10:47 PM
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Originally posted by Alpha_Magnum
reply to post by cpdaman
 


Unfortunate but true, Dennis Kucinich wants the 2nd Amendment abolished even though he apparently carries. Everything sounds great but then we get to NO GUNS. They all want the guns but someone that knows those are our "Liberty Teeth" should never ask for that!


really....is he mad.. i'm going to have a drink now



posted on Jan, 19 2009 @ 12:24 AM
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Originally posted by cpdaman

Originally posted by Alpha_Magnum
reply to post by cpdaman
 


Unfortunate but true, Dennis Kucinich wants the 2nd Amendment abolished even though he apparently carries. Everything sounds great but then we get to NO GUNS. They all want the guns but someone that knows those are our "Liberty Teeth" should never ask for that!


really....is he mad.. i'm going to have a drink now



Kucinich is currently drafting legislation that would ban the purchase, sale, transfer, or possession of handguns by civilians. A gun buy-back provision will be included in the bill.


Dennis Kucinich Total Gun Ban

I wish it was not true but it is.



posted on Jan, 19 2009 @ 12:54 AM
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Where are they going to get the money for this buy back.

Just my .45 is going to cost them $1000
this is the amount of money i have put into it and the accessories.
without the gun i will not need the ammo red dot sight the extra parts etc.

Its a all or none deal.

If it comes to a sell you gun to the government or else deal every one should hold out for the max amount and that includes for everything.

When they see the price tag they will have second thoughts.

Thats 65 million handguns. plus accessories at a avg of $600 each x 65 million =$390.000.000.000
The US can not afford $400 trillion dollars to remove all hand guns from the streets.

I know what they plan is to give everyone $50 dollars and we take the loss.
bulls**t
They will never get all my hand guns for $50 dollars they will have to pay full price.
OR i bury my guns. screw them.



posted on Jan, 19 2009 @ 06:53 AM
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reply to post by OBE1
 




I was referring to "Official Gold Reserves"... US treasury Gold ostensibly vaulted by the US Mint as "Deep Storage"... not estimated resources... in the ground... and controlled by private mining interests.



It’s hard to convince some people (like me) how much of what remains under the ground whether it is oil or gold. But knowledgeable people who have lots of experience can usually be pretty much correct in their estimates. It’s like the peak oil thing. Everyone knows it will happen. No one wants it to happen. Even the proponents of the Peak Oil Theory tell us it will not be known for sure until AFTER it peaks. Due to fluctuation in output and consumption, it will be two or three years before we all settle in to the NEW environment.

But we can still make predictions. If we have credible information. One major flaw is that we do not have recent and reliable estimations of the reserves in oil remaining in most of the big Persian Gulf fields. Matthew Simmons says there has not been a genuine survey of the Saudi fields since the 1970s. Apparently the producers believe It is not in their interest for consumers to be the first to know the Gulf states are running out of oil.

Have oil, have clout, no oil, no clout.




The public perception is that Official Gold Reserves are held as a hedge against potential emergencies... war [financing]... an unforeseen, severe spike in inflation... a sudden downgrade in sovereign debt... default. All of the above, but basically to inspire foreign & domestic confidence in a country's currency.



Somewhere a long time ago I came to believe the US Gov’t has 20 million ounces of gold. One-third is at Ft. Knox. One-third is in the basement of the NY Federal Reserve Bank. And the remaining one-third is held in a Federal facility in up-state New York. Probably stored there for quick access to the NY Federal Reserve Bank.

At $1,000 an ounce, it is easy to see that is only $20 billion. Yes, because the US owns gold, it is “in reserve” regardless of what I think about it. It’s “in reserve” to be used anytime the powers that be deem it necessary. But because I also believe my earlier numbers of $650 billion in printed US money in circulation world-wide - $400 b. outside, $250 b. inside - I have continued to discount the value of our gold.

As to “gold in the ground” either History channel or Discover channel has that program showing the great open pit mine and how they get one ounce of gold from 1 ton of ore, etc. I think both History and Discover are on a 1 or 2 years schedule and repeat their stuff that often so if you missed it this time, you can catch it next time.

Although oil is not gold and I’m digressing, I can’t help but point out it is indisputable the US uses 3 gallons of oil every day, for every person. That number is the product of 304 million divided into 22 million barrels. Again, about one-third is for transportation, about one-third is for the production of food and the remainder is for all the things we make out of petroleum.

Our entire culture in 2009 is built on oil. 95% of the things we do or touch come from oil. Achieving energy independence will be helpful. It will add about 20 years to our 150 year dance with oil. By 2109 our way of life will bear little resemblance to today’s version. Whether the world can do that come-down peaceably is very much in doubt. We’ll all be living like those guys today who are 200 miles up the Congo River or 1,000 miles up the Amazon. Those of us who ARE living and that will be only a fraction of the number alive today.




In that respect, I think the US Gold Reserve is actually working overtime at the moment. Stay tuned, with other major currencies teetering... the sheep have led back to Uncle-Buck... but I wouldn't get-up to go to fridge just yet. As with most public monetary policies and manipulated economic data, the "US Gold Reserve" serves at least one shadow function.



Economic policy sounds like too much like religion. We have turned our lives and futures over to charlatans. Don’t forget that in the Book of Deuteronomy a person who foretold the future was to be stoned to death! (Prophet did not mean a fore-teller, it meant a fore-warner).




First thing to understand is that the Federal Reserve owns all of the Gold Certificates issued by the US Treasury.



If that “gold certificates” refers to the YELLOW notes - blue for silver - red for US Note and green for Federal reserve - then I dispute that. Like all used currency, it long ago met its fate in the ovens. Sure, you’d want to keep a few for historical reference and to let the public view but I don’t know what use the Fed could put those to since the whole program was to STOP the redemption right to convert the paper certificate into the metal.




The certificates represent Treasury obligations. Yes, the "US Gold Reserve", actually belongs to a private banking cartel as you stated. As a result, the 261MMoz "Gold Reserve" appears as an "asset" on the Federal Reserve Balance Sheet... lends value against it's liabilities (our physical currency for one)... and inspires confidence in it's ability to perform. Legitimate I guess... since the Fed owns a claim in the form of Gold Certificates against every ounce.



I admit I have been lazy. Anyone can order a copy of the Annual Report of the Federal Reserve System or of any one of the12 branch banks. I have not done that. But until I hold one of those reports in my own hands - or read a pdf file from the Fed - I cannot accept that as being the case.

The Fed has no “liability” for our currency. You can’t sue the Fed. Oh I don’t mean if one of their trucks runs over you, yes, you can sue, but to get a WRIT to let anyone into their vaults to poke around, no way.

I am not familiar with accounting procedures when it comes to the Federal Reserve System which is unique. The Fed is more concept to me than it is concrete. Yes, somebody owns the buildings they occupy. For someone that is an asset. It may be the Fed owns its own buildings or it may rent or lease. Whereas rent is a liability I can see how a lease could be called an asset. Because you have a “right” to occupy a particular space for a particular time. But that is a conditional right, conditioned on you paying the agreed rent.




US Reserve Assets, a record showing all of the Treasury's international monetary assets. Rather than recording a Treasury liability for 261MMoz... the liability associated with the issuance of Gold Certificates, the same 261MMoz "Reserve" appears as a line item "asset" under Treasury Gold Stock. Some might politely call this; Double-Dipping. I call it a Confidence Game



Well, if the US Treasury held $500 million in pounds sterling from England and $100 million Australian dollars from Australia, those would be assets. Remember the Treasury and the Federal Reserve are two separate entities. Both have areas of responsibility in the economic sphere and maybe to some extent might overlap from time to time, but in the main, there is not much overlap.

[edit on 1/19/2009 by donwhite]



posted on Jan, 19 2009 @ 09:33 AM
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Originally posted by donwhite
It’s hard to convince some people (like me) how much of what remains under the ground whether it is oil or gold. But knowledgeable people who have lots of experience can usually be pretty much correct in their estimates. It’s like the peak oil thing. Everyone knows it will happen. No one wants it to happen. Even the proponents of the Peak Oil Theory tell us it will not be known for sure until AFTER it peaks. Due to fluctuation in output and consumption, it will be two or three years before we all settle in to the NEW environment.

But we can still make predictions. If we have credible information. One major flaw is that we do not have recent and reliable estimations of the reserves in oil remaining in most of the big Persian Gulf fields. Matthew Simmons says there has not been a genuine survey of the Saudi fields since the 1970s. Apparently the producers believe It is not in their interest for consumers to be the first to know the Gulf states are running out of oil.

Have oil, have clout, no oil, no clout.


I had this in another thread however it fits here as well. If you want to learn about resources then this is not the place to do it. I recommend a site called The Oil Drum

The problem is larger than life actually. Have you noticed that we don't here much about Saudi Arabia these days except for production cuts? Well here is why Saudi Arabia has been rendered irrelevant for the most part.

This Is An Oil Saturation Map Of Ghawar The Biggest Oil Well In The World In Saudi Arabia Done In 2004


The biggest well in the world that has served us for more than 50 years is depleted. This is why the USA is attempting to dominate the entire region.




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