Reinke Faces Life

http://acrossthestreetnet.wordpress.com/2010/12/15/what-the-silver-vigilantes-understand-that-you-probably-dont-arithmetic-human-nature-and/

What The Silver Vigilantes Understand That You Probably Don’t (Arithmetic, Human Nature and other Stuff)
In Open Thread, Silver, stocks finance, Treasuries on Wednesday, December 15, 2010 at 6:03 pm

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Part 6. So what’s silver worth.

The short answer is: more. If silver were priced based on its occurrence relative to gold, it would be over $125/oz. If it were priced on its availability – somewhere around $2,000. But if you are content to let the likes of Blythe Masters dictate the value based on truckloads of worthless paper promises, you can expect ultra-low prices until the whole thing blows up. Of course at that point, we’ll be so busy killing each other for food no one will have time to say, “I told you so.”

The silver vigilantes just want you to re-learn what the phrases like, “cold, hard cash,” and“payment in full” are supposed to mean. There not asking you to sink everything you have into physical silver, just a little. Silver can’t be printed into oblivion, or stolen by a cyber attack. Why wouldn’t you want to own some of your very own?

A paper dollar from 1960 is worth exactly the same as a paper dollar in 2010, but four quarters from 1960 are worth more than $21. Given the fiscal insanity of the US government, I can’t imagine the US dollar surviving another 50 years, but I’m quite sure that silver will still be useful. Please consider getting some.

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Amazing the price estimation. Question: if silver is 125$/oz or 2k$/oz, what will be the value of the dollar, gold, oil, and everything else? Argh!

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> greatest regrets as an investor

“Regrets, I’ve had a few. But then again, too few to mention …”

I, personally, have a “no look back” policy. I’ve seen folks drive themselves nuts, literally, over choices made decades before. So, I don’t REGRET. I’ve made mistakes, blunder, and brain freezes. I’ll share one of the many financial lessons I’ve learned after paying some very expensive “tuition” at the University of Hard Knocks.

The biggest “lesson”, what you’d call a regret, is that, from youth to middle age, I always spent money like a drunken sailor. Savings were for old people. I had some thrifty relatives, but they never transferred that wisdom to me. During this period, I had many investment opportunities, ideas, and opportunities that I couldn’t, wouldn’t, or didn’t take advantage of. In hindsight, I would have been fantastically wealthy if I had taken advantage of them.

You want a specific. I worked on Wall Street and, during that ‘drunken sailor’ era, I thought I knew it all. I “invested” in all sorts of stuff pushed by my employers — the worst was Real Estate Unit Trust. They were dogs; the organizers and the firm made a lot of money. It was a disaster. And, caused me tax problems.

I wised up at some point in my life and got a real financial planner, who gets paid a fixed fee. They’ve gotten me organized and accumulating. Luckily, in my life, I’ve been lucky to stay employed and earning. Time heals all stupidity?

(I’ll permit myself one “coulda”. I know the “shouldas, couldas, and wouldas” will kill you.)

I “coulda” had a much better and different life if I’d just been a little smarter about money.

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With all due respect to the distinguished citizens of North Carolina, you rubes blew it. Can anyone seriously think that you can NOT tell the difference between a Federal Reserve Bank coin and a one ounce silver round? I don’t care what he pressed on it — Lady Liberty, George Washington, or Porky Pig! I have some, and invite your inspection. Then you tell me how confused you are between the two. Argh! For a quick test, go into any gold buying outlet with a sack of Federal Reserve Bank “coins” and an equivalent in “Liberty Dollars” (aka one ounce silver rounds). See what you come out with? In the former, you’ll probably get laughed at. In the latter, you’ll have a new appreciation of the difference. Silver is now 32$/oz.

Personally, I’m not surprised.

First, the “citizens” are uninformed about the nature of money and how we are being screwed on a daily basis by the banking cartel called the FED.

That deliberate false advertising. It’s misnamed the Federal Reserve Bank and the Federal Reserve Banking System. “Federal” “Reserve” “Bank” my <synonym for donkey>! It’s not “Federal”; it’s a cartel of the big banks like OPEC. It “Reserves” nothing; it’s a house of paper where the big banks have stolen everything of value. And it’s not a “Bank”. It steals value from the US Treasury and transports it to the big NYC banks on it’s way to the rich elite. And, yes some of them are international.

(N.B.: Peruse a list of the entities that received Federal “TARP” bailout money. You, the poor shmuck on Main Street, bailed out every big US and European Bank. And, that’s just what they told you! Everything these crooks do is about paying off their friends. The ersatz GM “bankruptcy” transferred 5K$ from Frau Reinke’s IRA to the UAW. And, you believe ANYTHING the Gooferment, the politicians, or their bureaucrats say? “I wouldn’t believe you, if your tongue came notarized.” … attributed to Judge Marilyn Milian, but may have an earlier history.

Wake up, Sheeple!

http://charlotte.fbi.gov/dojpressrel/pressrel11/ce031811.htm

“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”

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http://biggovernment.com/cstreet/2011/03/15/california-moves-closer-toward-default/

California Moves Closer Toward Default by Chriss W. Street

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California tax payers just took a huge punch in the nose from the same actuaries who provided the cover for state politicians to spike public employee retirement benefits. The latest shocker comes from California State Controller John Chiang who yesterday unveiled a new actuarial report that shows California faces another unfunded debt of $59.9 billion to pay for retiree health and dental benefits over the next 30 years.

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When I worked on Wall Street, I learned about risks. Seems to me that a lot of folks in California are underestimating their risks.

I’d not be holding any Gooferment debt.

Here in New Jersey, the State Gooferment just “stole” the state employees’ pensions by not contributing. In California,

Seems like the California folks are gonna get the same — employees and taxpayers alike. And the politicians get off scott free!

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http://www.wnd.com/index.php?fa=PAGE.view&pageId=272849#ixzz1GENv0zRe

http://www.wnd.com/index.php?fa=PAGE.view&pageId=272849

Don’t count on currency revaluation
Posted: March 09, 2011 8:37 pm Eastern
By Ian Fletcher

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In any case, the killer argument against balancing our trade by just letting the dollar fall comes down to a single word: oil. If the dollar has to fall by half to do this, this means that the price of oil must double in dollar terms. Even if oil remains denominated in dollars (it is already de facto partly priced in euros) a declining dollar will drive its price up. The U.S., with its entrenched suburban land use patterns and two generations of underinvestment in mass transit, is exceptionally ill-equipped to adapt, compared to our competitors.

Fundamentally, allowing the dollar to crumble is a way of restoring our trade balance andinternationalcompetitiveness by becoming poorer. That’s not what Americans want, or should want. A tariff is a much better solution.

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Perhaps, some one might care to opinion on this piece of bad advice. A hint of a tariff leads to the Great Depression repeat. Allowing currency to inflate takes us the way of all fiat currencies. If we don’t change course, we emulate the Titanic. Argh! OK, what is the “right answer”.

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In the absence of any good ideas, why not take small steps: reduce Gooferment spending to pre-Clinton levels, repeal “legal tender” laws, and transition away from the FED.

“We don need no stinkin … …” bureaucrats or Wall Street fat cats.

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http://www.where-we-stand.com/banks.html

WHERE WE STAND

Banks and Bankers

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Banks are the means by which European aristocracy regained control of America once again following what we thought had been our Revolution.

—L. Neil Smith

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The power to create money must be taken from the government backed banking cartel called the Federal Reserve. Lawful money, as mandated by the Constitution—precious metal coins and nothing else—must be substituted for the wastebasket trash that we’ve become accustomed to.

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Agreed.

But, as always, the problem is how do we get to there from here?

It would be nice if getting there didn’t include complete societal collapse.

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http://seekingalpha.com/article/244020-coins-vs-bags-comparing-two-options-in-physical-silver

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The 90% Silver Bags consist of coins — dimes and quarters — that were once used as money in the United States. In 1964, one could take a dime to the store and buy a loaf of bread (if you are old enough to remember). Today, that same 90% silver dime is worth $2.10, enough to buy a loaf of bread.

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Interesting? It’s not that the cost of that loaf of bread has increased. It’s that the value of the money has decreased. Even though, I KNOW that, and I think I UNDERSTAND that fact, still concrete examples like this are a punch to the solar plexus. Leaves you sucking wind. By the same formula, I bout gas for 40¢/gallon. That equates to $8.40/gallon. So, gas has gotten “cheaper”! Argh! Makes me sick to my stomach. And, it’s only getting worse.

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http://dailyreckoning.com/the-box-of-money/

The Box of Money
By Eric Fry

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02/21/11 Laguna Beach, California – The most persuasive arguments for buying gold do not reside in musty old economics textbooks or in the minutes of the latest FOMC meeting…They reside in Henry Hackel’s “box of money.”

Henry, as faithful Rude Awakening readers will recall, is the president of R.F. Lafferty, a broker-dealer specializing in options trading and resource stocks. In his 26th floor corner office overlooking the Hudson River sits a non-descript cardboard box – a simple shoebox that contains a powerful message: Buy gold.

“Hey Eric, have you ever seen my box of money?” Henry asked one day, wearing an impish grin.

“Um…no,” your editor replied. “I think I would have remembered that.”

“You gotta see this… C’mon, follow me,” said Henry, as he grabbed the box and marched toward the conference room. After seating ourselves at the conference table, Henry slung the box across the table like a bartender slinging draft beers and said, “Take a look.”

Your editor peeled back the lid, peered into the box and saw money – lots and lots of money…but all of it worthless. There were rubles from pre-Soviet Russia, 50 million-mark bills from the Weimar Republic period in Germany, pesos from the 1950s government of Cuba’s Battista regime, and even a few extinct Brazilian cruzeiros.

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Another version of my pirates’ chest. “Open that pirate’s chest and what do you want to see: greenbacks, Confederate currency, or gold coins?”

I think that says it all!

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Read more: The Box of Money http://dailyreckoning.com/the-box-of-money/#ixzz1EdHNg0nm