Best of the Week
Most Popular
1. Stock Markets and the History Chart of the End of the World (With Presidential Cycles) - 28th Aug 20
2.Google, Apple, Amazon, Facebook... AI Tech Stocks Buying Levels and Valuations Q3 2020 - 31st Aug 20
3.The Inflation Mega-trend is Going Hyper! - 11th Sep 20
4.Is this the End of Capitalism? - 13th Sep 20
5.What's Driving Gold, Silver and What's Next? - 3rd Sep 20
6.QE4EVER! - 9th Sep 20
7.Gold Price Trend Forecast Analysis - Part1 - 7th Sep 20
8.The Fed May “Cause” The Next Stock Market Crash - 3rd Sep 20
9.Bitcoin Price Crash - You Will be Suprised What Happens Next - 7th Sep 20
10.NVIDIA Stock Price Soars on RTX 3000 Cornering the GPU Market for next 2 years! - 3rd Sep 20
Last 7 days
Boris Johnson Hits Coronavirus Panic Button Again, UK Accelertoing Covid-19 Second Wave - 25th Sep 20
Precious Metals Trading Range Doing It’s Job to Confound Bulls and Bears Alike - 25th Sep 20
Gold and Silver Are Still Locked and Loaded… Don't be Out of Ammo - 25th Sep 20
Throwing the golden baby out with the covid bath water - Gold Wins - 25th Sep 20
A Look at the Perilous Psychology of Financial Market Bubbles - 25th Sep 20
Corona Strikes Back In Europe. Will It Boost Gold? - 25th Sep 20
How to Boost the Value of Your Home - 25th Sep 20
Key Time For Stock Markets: Bears Step Up or V-Shaped Bounce - 24th Sep 20
Five ways to recover the day after a good workout - 24th Sep 20
Global Stock Markets Break Hard To The Downside – Watch Support Levels - 23rd Sep 20
Beware of These Faulty “Inflation Protected” Investments - 23rd Sep 20
What’s Behind Dollar USDX Breakout? - 23rd Sep 20
Still More Room To Stock Market Downside In The Coming Weeks - 23rd Sep 20
Platinum And Palladium Set To Surge As Gold Breaks Higher - 23rd Sep 20
Key Gold Ratios to Other Markets - 23rd Sep 20
Watch Before Upgrading / Buying RTX 3000, RDNA2 - CPU vs GPU Bottlenecks - 23rd Sep 20
Online Elliott Wave Markets Trading Course Worth $129 for FREE! - 22nd Sep 20
Gold Price Overboughtness Risk - 22nd Sep 20
Central Banking Cartel Promises ZIRP Until at Least 2023 - 22nd Sep 20
Stock Market Correction Approaching Initial Objective - 22nd Sep 20
Silver Bulls Will Be Handsomely Rewarded - 21st Sep 20
Fed Will Not Hike Rates For Years. Gold Should Like It - 21st Sep 20
US Financial Market Forecasts and Elliott Wave Analysis Resources - 21st Sep 20
How to Avoid Currency Exchange Risk during COVID - 21st Sep 20
Crude Oil – A Slight Move Higher Has Not Reversed The Bearish Trend - 20th Sep 20
Do This Instead Of Trying To Find The “Next Amazon” - 20th Sep 20
5 Significant Benefits of the MT4 Trading Platform for Forex Traders - 20th Sep 20
A Warning of Economic Collapse - 20th Sep 20
The Connection Between Stocks and the Economy is not What Most Investors Think - 19th Sep 20
A Virus So Deadly, The Government Has to Test You to See If You Have It - 19th Sep 20
Will Lagarde and Mnuchin Push Gold Higher? - 19th Sep 20
RTX 3080 Mania, Ebay Scalpers Crazy Prices £62,000 Trollers Insane Bids for a £649 GPU! - 19th Sep 20
A Greater Economic Depression For The 21st Century - 19th Sep 20
The United Floor in Stocks - 19th Sep 20
Mobile Gaming Market Trends And The Expected Future Developments - 19th Sep 20
The S&P 500 appears ready to correct, and that is a good thing - 18th Sep 20
It’s Go Time for Gold Price! Next Stop $2,250 - 18th Sep 20
Forget AMD RDNA2 and Buy Nvidia RTX 3080 FE GPU's NOW Before Price - 18th Sep 20
Best Back to School / University Black Face Masks Quick and Easy from Amazon - 18th Sep 20
3 Types of Loans to Buy an Existing Business - 18th Sep 20
How to tell Budgie Gender, Male or Female Sex for Young and Mature Parakeets - 18th Sep 20
Fasten Your Seatbelts Stock Market Make Or Break – Big Trends Ahead - 17th Sep 20
Peak Financialism And Post-Capitalist Economics - 17th Sep 20
Challenges of Working from Home - 17th Sep 20
Sheffield Heading for Coronavirus Lockdown as Covid Deaths Pass 432 - 17th Sep 20
What Does this Valuable Gold Miners Indicator Say Now? - 16th Sep 20
President Trump and Crimes Against Humanity - 16th Sep 20
Slow Economic Recovery from CoronaVirus Unlikely to Impede Strong Demand for Metals - 16th Sep 20
Why the Knives Are Out for Trump’s Fed Critic Judy Shelton - 16th Sep 20
Operation Moonshot: Get Ready for Millions of New COVAIDS Positives in the UK! - 16th Sep 20
Stock Market Approaching Correction Objective - 15th Sep 20
Look at This Big Reminder of Dot.com Stock Market Mania - 15th Sep 20
Three Key Principles for Successful Disruption Investors - 15th Sep 20
Billionaire Hedge Fund Manager Warns of 10% Inflation - 15th Sep 20
Gold Price Reaches $2,000 Amid Dollar Depreciation - 15th Sep 20
GLD, IAU Big Gold ETF Buying MIA - 14th Sep 20
Why Bill Gates Is Betting Millions on Synthetic Biology - 14th Sep 20
Stock Market SPY Expectations For The Rest Of September - 14th Sep 20
Gold Price Gann Angle Update - 14th Sep 20
Stock Market Recovery from the Sharp Correction Goes On - 14th Sep 20
Is this the End of Capitalism? - 13th Sep 20
The Silver Big Prize - 13th Sep 20
U.S. Shares Plunged. Is Gold Next? - 13th Sep 20
Why Are 7,500 Oil Barrels Floating on this London Lake? - 13th Sep 20
Sheffield 432 Covid-19 Deaths, Last City Centre Shop Before Next Lockdown - 13th Sep 20
Biden or Trump Will Keep The Money Spigots Open - 13th Sep 20
Gold And Silver Up, Down, Sideways, Up - 13th Sep 20

Market Oracle FREE Newsletter

How to Get Rich Investing in Stocks by Riding the Electron Wave

The Bell Tolls For The U.S. Dollar

Currencies / US Dollar Jul 14, 2011 - 10:53 AM GMT

By: Jeff_Berwick

Currencies

Best Financial Markets Analysis ArticleWhat an incredible day.  I spent most of my day overlooking the beach in southern Mexico and so I was unaware of the buzz of activity that was going on worldwide.  Around sundown, as I do most evenings, I then made my way to my office, Starbucks, and took my place in my usual seat, the red comfortable chair with armrests and began to scroll through the news of the day via the last free place on earth, the internet.  And what a day it was!


I started by watching this interview with US Treasury Secretary, Timothy Geitner, on Meet the Press.

Timothy is hard to watch.  He is a deviant, lying sociopath and he begins with a cartoonish explanation of his economic analysis of the last 3 years.  Making a motion of a plane nosediving - all but missing him actually making the bbbbrrrrrrrrr noise with his mouth - he stated, "The... the.. the American economy," he stammered, "was faaalllllling off a cliff in the fall of '08."

Any ideas why that happened Timmy?  I thought that is why we have the Federal Reserve and the phone book size list of financial rules and regulations, to avoid market panics, no?

He then goes on to state, "(Obama) put in place THE most creative, THE most forceful set of economic measures we have ever done as a country."

Is that what creates good economies Tim?  Creative central planning?  Maybe we should get someone even more creative to design these plans if that's what it takes.  Lady Gaga, maybe?  She's pretty creative with all those funny hats.

He then goes on to say a string of words that can only be described as hallucinogenic, stating how well the economy has done and how good the job market has been since then!

He then states that the problem with the economy is just an unwillingness to legislate things that can help.  Yes, we need MORE government involvement and legislation, that's what we need!  He even gave an example of something that could be legislated to help, stating, "If we can find ways to help rebuild America, we can put more people back to work."

Yes, if only we could find ways to rebuild America!  Sadly, America died somewhere between the time the Federal Reserve was founded and an income tax enacted and FDR's "New Deal" and LBJ's "Great Society".  What we have now is an animated corpse with a President that no one has any recollection of ever seeing prior to his ascendancy who reads platitudes off of pre-scripted teleprompters like Max Headroom to the adderall and prozac lobotomized masses.

He did conclude with one truthful statement, however, saying, "I think for a lot of people (this is going to be) very hard, harder than anything they've experienced in their lifetime for a long time to come."

Meanwhile, Ben Bernanke was meeting in front of Congress and stated that "the economy is growing more slowly and the central bank stands ready with more accomodative measures".  The free markets, what's left of them, went to work immediately, setting fire to the dollar like the busted out old jalopy that it is.  The dollar was in freefall against most currencies and gold flew to a new all-time high of $1,593.30, up nearly $30 on the day.

As much as we despise Ben for being the figurehead under which the financial elite rape, pillage and impoverish the planet, our gold-endowed portfolio couldn't have picked a better Keynes-head to be in charge of US monetary policy.

Ben then got lambasted by Ron Paul who asked him if he watches gold.  Ben said he did - his voice quivering like a schoolgirl - before he was cut-off by Ron Paul repeatedly, a very nice thing to see.  There is no need to be overly polite to thieves and criminals.

 

Paul then asked a few questions that left Bernanke quite stumped, including the final one, "Why doesn't the Federal Reserve hold diamonds (instead of gold) if gold isn't money?".

Ben stood silent for a few awkward seconds before shrugging his shoulders, "Well, it's a tradition."

It's a tradition?  Yeesh.  Holding anything else as reserves for tradition Ben?  Perhaps some of those Russian matryoshka dolls?  They're fun.

While Ben B. was being roasted, Vladimir Putin, a sick individual in his own right, also laid on the attacks on the Federal Reserve, calling them "a bunch of hooligans" because of their extreme money printing.  You must be doing something when a KGB hitman and Stalin loving psychopath thinks you are a hooligan!

Meanwhile, in another part of Washington, the fight over the debt ceiling reached extreme levels with Barack Obama getting visibly angry with Republican Majority leader, Eric Cantor.  Cantor, by the way, owns one of our holdings - the Proshares UltraShort Treasuries (NYSE:TBT).  Some may see Cantor being short Treasury Bonds as a slight conflict of interest, given his position in negotiating the raising of the debt ceiling - but no one seems to care much about integrity in D.C. (District of Criminals).

The funniest part of today's debate about whether to admit bankruptcy today or to forestall admitting bankruptcy a few months into the future, was when Barack Obama stormed out of the meeting after angrily stating, "Don't call my bluff!"

Obama appears to know about as much about poker as he knows about the financial affairs of the US Government.  The statement itself makes no sense.  Does he mean he was bluffing?  If so, in poker, if someone is bluffing, the thing you want to do is call it.  You might say, "Call my bluff", to state that you are going to prove you aren't bluffing... but to say "don't call my bluff" makes no sense from any perspective.

Obama just doesn't make any sense when he's not connected to his teleprompters!  Someone get him plugged back in, please.

Still not to be finished for the day, Moody's then warned that US Government debt was close to being downgraded.  This was yet another nail in the dollar coffin.  The funny part is that they said they may downgrade it from AAA to AA.  Earth to Moody's: If the US Government doesn't raise the debt ceiling they will have to default on their debt obligations... in other words, if they are going to downgrade it they shouldn't downgrade from AAA to AA, it should be from AAA to the lowest rating they have, C - denoting bonds that are in default and a new term for the US Treasury Bond should be created in their honor - Super Junk Bonds works.

Ah well, who listens to Moody's anymore anyway?

All in all it was a crazy day... and I didn't even mention Europe, which is on the brink of the abyss as well.

We stand on the precipice of The End Of The Monetary System As We Know It (TEOTMSAWKI) and today is proof of that.  Dozens of countries are evolving - not devolving - into revolutions, mostly caused by this non-free-market fiat money financial system.  The European Union stands on the brink of collapse.  And today the Federal Reserve was under attack more than at any other time in history while the US Government is straining under the weight of debts too large to ever be payable.

Indeed the bell tolls for thee, the US dollar based financial system, the central banks and the modern day version of tax farms - the State.  And, good riddance.

Subscribe to TDV today (90 day moneyback guarantee) to access our Special Report on How to Own Gold as well as get complete access to our newsletter and portfolio selections.

The Dollar Vigilante is a free-market financial newsletter focused on covering all aspects of the ongoing financial collapse. The newsletter has news, information and analysis on investments for safety and for profit during the collapse including investments in gold, silver, energy and agriculture commodities and publicly traded stocks. As well, the newsletter covers other aspects including expatriation, both financially and physically and news and info on health, safety and other ways to survive the coming collapse of the US Dollar safely and comfortably. The Dollar Vigilante offers a free newsletter at DollarVigilante.com.

© 2011 Copyright Jeff Berwick - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules