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Forget 1987, This Could Be 1929 All Over Again




Analyst says economic winter could last 8 years, worst is yet to come

Paul Joseph Watson
Prison Planet
Thursday, January 24, 2008

digg_title = 'Forget 1987, This Could Be 1929 All Over Again';digg_bodytext = 'The huge debt bubble, which has artificially propped up the stock market since the turn of the millennium, could cause a new great depression according to one expert, who also predicts that investors will flock to buy gold as the dollar continues to plummet.';

The huge debt bubble, which has artificially propped up the stock market since the turn of the millennium, could cause a new great depression according to one expert, who also predicts that investors will flock to buy gold as the dollar continues to plummet.
Financial analysts have been drawing comparisons between this week's chaos and the October 19 1987 crash, known as Black Monday, when the Dow Jones Industrial Average dropped by over 22 per cent and markets sunk worldwide.
But Vancouver-based investment adviser Ian Gordon has gone a step further, seeing clear parallels between current events and those that foreshadowed the 1929 crash and ensuing depression.

rest of article:

http://www.prisonplanet.com/articles...over_again.htm
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Old 01-24-2008, 05:51 AM Free_Willy is offline  
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Badger_sly
 
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(and just think since our money is backed by fartwind, not gold our money might not even buy us immodium, but the utra rich bankers and war profiteers dont have much to worry about, just us so keep pimping CFR Hillarys and Obamas and fucking evangelical Huckabees and old school assholes and ignore Ron Pauls who have integrity and have proved it)

Fed makes emergency rate cut & EU blames US for market plunge[/SIZE]

http://news.yahoo.com/s/nm/20080124/...gen_markets_dc
Turns out the EU's problems were caused by one French guy.
Old 01-24-2008, 02:00 PM Badger_sly is offline  
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cromicus
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Hey genius, even the nations top financial billionairs and financial gurus like Alan Greenspan and Warren Buffet are saying were on the edge of economic crisis not to mention every news source the world over.
Greenspan and Buffet aren't saying anything of the sort. They're taking the opposite position from mainstream media. Greenspan's concern about the economy is in the 10-15 year range, which has nothing to do with the current problems.

Quote:
5. unable to deduce the only candidate with an economic escape route, indeed the only with any economic plan beyond more of the same is Ron Paul
Whatever this is, it will be long over by the time the next president is installed
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Old 01-24-2008, 03:04 PM cromicus is offline  
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Forget 1987, This Could Be 1929 All Over Again
No, no it can't
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Old 01-24-2008, 03:05 PM cromicus is offline  
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Hey genius, even the nations top financial billionairs and financial gurus like Alan Greenspan and Warren Buffet are saying were on the edge of economic crisis not to mention every news source the world over.

you are either:

1. a frightened child lashing out to make "the bad man" stop

2. jealous of me

3. nearly illiterate and possesed of a very low IQ

4. cognitive dissonant

5. unable to deduce the only candidate with an economic escape route, indeed the only with any economic plan beyond more of the same is Ron Paul

6. have not embarrassed yourself here enough already thus a masochist, perhaps an Oedipus complex, and yes I am your father.

7. still unable to live up to your name, props for determination, you make me look extremely good, thank you.

8 a combination of two or more 1-8.

Hey fuckstick. What i-bank do you work for? Or are you too busy being a fucking internet armchair finance and economics expert?

Yeah, that's what I thought.


Anyway, how are Greenspan and Buffet saying we are on the verge of an economic disaster?

Wow, Buffet just buys SwissRe, is massively bullish on insurance, even going into insurance for muni bonds, has bought massively into railroad, owns Gillette, and various other companies.

Greenspan goes to work for a hedge fund.

Now, if they thought shit was about to collapse, why would they putting money *IN*? If Dubai, China, Hong Kong, thought the dollar was going to collapse and the US with it, why would they be tossing tens of billions into the US?

Ohh wait, I forgot, these are some of the most fucking moronic people in the world and they *LOVE* to waste money. INstead of running their own businesses they should listen to the fucking brilliant dickwad named Free_Willy on the internet because he is the genius prognosticator of every fucking economic topic in the world.

Fuck off bitchtits, go dress like it's 1776 and live like a fucking pig farmer for all I care.
Old 01-24-2008, 04:35 PM LegendKiller is offline  
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The Rise of Ron Paul + A New Economy

+ YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.



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Old 01-27-2008, 09:11 AM Free_Willy is offline  
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I bring this to light not only because this happens to be exactly what Dr. Ron Paul has been trying to say,

Maybe because the Ludwig von Mises Institute (mises.org) has been a long standing relationship with Ron Paul, including writing his newsletters and publishing his books?
Old 01-27-2008, 09:32 AM no_step is offline  
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Feds accused of gold-price manipulation

Alleged objective to 'conceal the mismanagement of the U.S. dollar

Posted: January 25, 2008
1:00 a.m. Eastern


By Jerome R. Corsi
2008 WorldNetDaily.com

http://www.wnd.com/news/article.asp?ARTICLE_ID=59876

U.S. Treasury
The Wall Street Journal has agreed to publish a full-page ad in which the Gold Anti-Trust Action Committee charges the U.S. government surreptitiously utilizes gold reserves to engage in international swaps and other market manipulations.

"Anybody Seen Our Gold?" is the title of the ad, which alleges U.S. gold reserves held at depositories such as Fort Knox and West Point may have been seriously depleted. GATA asserts U.S. gold reserves are being shipped overseas to settle complex transactions utilized by the Federal Reserve and the U.S. Treasury to suppress the price of the precious metal.

"The objective of this manipulation is to conceal the mismanagement of the U.S. dollar so that it might retain its function as the world's reserve currency," the ad copy reads in a pre-publication version GATA provided to WND.

The U.S. Treasury denies the claim, insisting the stock is accounted for regularly.


GATA's chairman, William J. Murphy III, told WND his group was willing to pay the Wall Street Journal's cost of $264,000 to run the ad "to get the message out that the U.S. enters world markets without public disclosure to prop up the dollar and depress the price of gold."

GATA cites as evidence the Federal Reserve Open Market Committee reports dating back to Jan. 31, 1995, showing the U.S. Treasury Department's Exchange Stabilization Fund had undertaken gold swaps.

GATA, a non-profit 501 headquartered in Manchester, Conn., further asserts the federal government strategy to manipulate the price of gold has begun to fail.

"Gold's recent rise toward $900 per ounce shows that the price suppression scheme is faltering," the GATA ad reads. "When it is widely understood how central banks have been suppressing gold, its price may rise to $3,000 or $5,000 an ounce or more."

"The gold reserves of the United States have not been independently audited for half a century," the ad charges.

The U.S. Treasury disagrees.

"While the entire gold stock is not physically re-counted in any one year, over a period of years, by our continuous sampling process, the entire stock has been counted, and is effectively re-inventoried," Rich Delmar, counsel to Treasury's inspector general, told WND in an e-mail.

Delmar explained that the annual Office of Inspector General audits of mint facilities involves a physical inspection of certain vaults, which are subject to a 100-percent bar count and assaying. At the end of the inspection, each vault is sealed.

"During each visit, all previously sealed vaults are checked to ensure that the seals have not been compromised or tampered with," he wrote. "This process is the basis for the conclusion that there has been a complete physical inventory."

Delmar said the OIG's work consists of more than reviewing documents.

"Our auditors physically observe the inventory work done at the mint facilities, and we are responsible for the assay sampling process," he said.

WND asked the Treasury if there is a comprehensive listing and accounting of any encumbrances or other restrictions on the gold in the U.S. Mint that may affect ownership.

"This is not within OIG's purview," Delmar responded. "You may want to ask the mint directly."

'Dodging the question'

Murphy called the response "ridiculous."

"The mint does not make complex gold transactions with other countries," he said. "That is the role for the U.S. Treasury. The mint just houses the gold. The Treasury is dodging the question."

GATA has filed a Freedom of Information Request asking the Fed and Treasury to disclose information on encumbrances and swapping or leasing of U.S. gold.

"The Fed and Treasury have not even acknowledged receiving our FOIA request," Murphy said. "It's idiotic to tell you that the mint would have that knowledge."

Murphy asked, "Is the gold in the mint truly U.S. gold reserves or is it just 'custodial gold' held for some other country? That's why we need to know what encumbrances there are on the gold as well as whether any U.S. gold has been shipped overseas to fulfill swap obligations."

The 2006 annual report published on the website of the U.S. Mint lists KPMG as outside auditor.

The KPMG signed audit report in the 2006 Annual Report of the U.S. Mint takes full responsibility for auditing the balance sheets and includes a statement of the custodial activity of U.S. gold reserves.

According to the balance sheets, custodial gold and silver reserves make up 90 percent of the U.S. Mint's total assets.

Still, there is no specific statement in the U.S. Mint's annual report or the KPMG audit report describing any KPMG involvement in a physical inspection of the gold reserves.

KPMG's role as independent auditor for the U.S. Mint is also confirmed in the 2006 audit report prepared by the Office of Inspector General of the Treasury.

Dan Ginsburg, a KPMG spokesman, declined to provide any detail to WND concerning his company's audit procedures for the U.S. Mint, citing client confidentiality.

Greater force

Craig R. Smith, founder of Swiss America Trading Corp., told WND he accepts the GATA arguments because "there has to be a force greater than normal market conditions that has repressed the price of gold."

Smith noted any number of financial crises since the late 1980s that "should have propelled gold way beyond the 1980 high of $850," including the savings and loan debacle and the birth of the Resolution Trust Corporation, as well as the on-going devaluation of the U.S. dollar against virtually all major foreign currencies.

"Gold has been playing catch-up with current world economic conditions," Smith told WND in an e-mail, "and future movements should easily prove gold to be a great value at $900 an ounce. That price will look cheap going forward as the world starts to turn its back on debt-laden currencies and returns to money with a real value."

But the U.S. Treasury, in a statement on its website, denies the Exchange Stabilization Fund has been used to manipulate gold prices.

"The ESF does not engage in any transactions in the market for any metal such as gold, either in spot markets or in any of its derivative forms," the Treasury statement declares. "We would like to emphasize that the Treasury Department does not seek to manipulate the price of gold or any other metal by intervening in or otherwise interfering with the market."

Yvanka Wallner, advertising sales representative for the Wall Street Journal in New York City, confirmed to WND the GATA ad has been approved by the Journal's lawyers and is being prepared to be run next week.

Swiss America, a WND advertiser, specializes in investment-quality numismatic gold coins.

Gold yesterday closed at an all-time high of $911 an ounce, up $28, on a weaker dollar and higher oil prices.

__________________
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--- Brain Gremlin in the movie Gremlins II: The New Batch.

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Old 01-27-2008, 02:05 PM Free_Willy is offline  
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cromicus
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"Anybody Seen Our Gold?" is the title of the ad, which alleges U.S. gold reserves held at depositories such as Fort Knox and West Point may have been seriously depleted. GATA asserts U.S. gold reserves are being shipped overseas to settle complex transactions utilized by the Federal Reserve and the U.S. Treasury to suppress the price of the precious metal.
To suppress the price of this stuff?
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Old 01-27-2008, 02:09 PM cromicus is offline  
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To suppress the price of this stuff?

you dont read very well do you:

The Wall Street Journal has agreed to publish a full-page ad in which the Gold Anti-Trust Action Committee charges the U.S. government surreptitiously utilizes gold reserves to engage in international swaps and other market manipulations.
__________________
"It's a jungle here--right now we're advising our clients to put all they can into canned goods and shotguns!"

--- Brain Gremlin in the movie Gremlins II: The New Batch.

Discordian Resistance Front, Co. A, Semi-Conscious Liberation Army.

Last edited by Free_Willy; 01-27-2008 at 02:24 PM..
Old 01-27-2008, 02:17 PM Free_Willy is offline  
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cromicus
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The Wall Street Journal has agreed to publish a full-page ad in which the Gold Anti-Trust Action Committee charges the U.S. government surreptitiously utilizes gold reserves to engage in international swaps and other market manipulations.
1. The same guy that owns the WSJ is the same guy that owns the Fox Noise that you are oh so critical of.

2. Assuming the WSJ considers this to be anything more than a regular money-making ad, their motivation is probably because it will stir up (properly so) skepticism and fear of a gold standard by showing how easy it is to manipulate with gold.

3. If you want to allege that the US government has been divesting the gold stock for some improper purpose, where is the evidence of a) the transactions, and b) the motive? I'm guess you don't have evidence.
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Old 01-27-2008, 02:27 PM cromicus is offline  
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the real question is how down can the WSJ's circulation be that conspiracy nutjobs can afford to take out ads in it.
Old 01-27-2008, 03:02 PM Xayd is offline  
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jubjub
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Quote:
Originally Posted by LegendKiller

Wow, Buffet just buys SwissRe, is massively bullish on insurance, even going into insurance for muni bonds, has bought massively into railroad, owns Gillette, and various other companies.

Greenspan goes to work for a hedge fund.

Now, if they thought shit was about to collapse, why would they putting money *IN*? If Dubai, China, Hong Kong, thought the dollar was going to collapse and the US with it, why would they be tossing tens of billions into the US?

Ohh wait, I forgot, these are some of the most fucking moronic people in the world and they *LOVE* to waste money. INstead of running their own businesses they should listen to the fucking brilliant dickwad named Free_Willy on the internet because he is the genius prognosticator of every fucking economic topic in the world.

Fuck off bitchtits, go dress like it's 1776 and live like a fucking pig farmer for all I care.

just a teenie-weenie nitpik-- Warren Buffett does not own Gillette..( he may hold a large position in P&G...too lazy to check).. but the rest of your post I wholeheartedly support !!
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Old 01-27-2008, 04:09 PM jubjub is offline  
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LegendKiller
 
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just a teenie-weenie nitpik-- Warren Buffett does not own Gillette..( he may hold a large position in P&G...too lazy to check).. but the rest of your post I wholeheartedly support !!

They did own 10% until it was bought by P&G, I forgot it was purchased by P&G.
Old 01-27-2008, 04:44 PM LegendKiller is offline  
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jubjub
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They did own 10% until it was bought by P&G, I forgot it was purchased by P&G.

cool....

I owned 100 shares of BRK-A that I sold ~ 10 years ago to finance tuition for my twins and the construction of my new house--it made me sick then--it makes me suicidal now....
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Old 01-27-2008, 05:07 PM jubjub is offline  
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