What is Digg?387 Comments
- theuniversal, on 01/30/2008, -15/+267The thing I don't get is, why would GATA, an organization funded and backed by heavy-weight gold investors, be so interested in pushing a story that puts downward pressure on the US dollar and pushes up the price of .... oh wait ... forget it.
- PSWTyrant, on 01/30/2008, -9/+170The answer: sold to foreign bankers long ago (except some show-gold).
- jimmydude, on 01/30/2008, -9/+128If there isn't anything to hide... what's the harm in an audit?
- Richandler, on 01/30/2008, -3/+116Isn't it amazing that the government is so willing to audit single tax payers on income tax but not the Federal Reserve Bank.
- hrhs556x, on 01/30/2008, -19/+129Anyone else think this had to do with Grand Theft Auto?
- inactive, on 01/30/2008, -5/+94Burns: "OK, may I have it back now?"
Castro: "Have what back?" - lhbaker, on 01/30/2008, -1/+64"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."
- deadmoo, on 01/30/2008, -5/+49I see your point. It is kind of the opposite of what the Fed is doing, dumping gold to drop its price to make the dollar seem more competitive. Their meddling in the gold market seems like another attempt to hide inflation. If the gold prices were not manipulated in this way, finding a fairly reasonable yard stick for inflation would be as easy as looking at the price of gold.
- kelsosmythe, on 01/30/2008, -13/+57I'm surprised nobody has said Ron Paul yet.....
*****.... - pstroll, on 01/30/2008, -6/+47Bush touring Fort Knox
Bush: "Hey where's all the gold?"
Paulson "There is none"
Bush "Quick double the guards!" - chkdg8, on 01/30/2008, -12/+53Look at this! People are finally waking up to the reality that this country has been raped and pillaged by new world order bitch ass pirates, killers and suppressed by their media minions.
- WKUHilltopper, on 01/30/2008, -1/+35Gold? The US does not need any "steenkin'" gold. We've got printing presses...
- OBDriftwood, on 01/30/2008, -5/+38Isn't that what they tell us prior to the rectal exam before boarding the airplane? If its good for the goose....
- NeoConned08, on 01/30/2008, -4/+34LOL. 450 trillion in bad derivatives. Iranian Oil Bourse. South America pulling their investments from the US. The SubPrime Fraud meltdown. Manipulation of gold price. Baby boomers begin retiring. Illegal immigrants sucking the Nanny state teet. :-) Grab your hats folks because here it comes!
- mogebier, on 01/30/2008, -2/+31I volunteer to go and count it.
I know it's a hard job, but I will sacrifice all my time for the good of the US of A.
And I have BIG pockets, but that's neither here nor there. - Terr01, on 01/30/2008, -1/+28Step 3: Massive profit.
- GinsuGuy585, on 01/30/2008, -9/+35in ur vaultz stealin ur goldz
- Terr01, on 01/30/2008, -7/+32What are the odds GATA stands to make a lot of money if they can cause a run on the banks or on gold commodities?
- capiCrimm, on 01/30/2008, -5/+30how exactly is this putting downward pressure on the dollar? Our dollar isn't backed by gold anymore.
- jasqwerty, on 01/30/2008, -10/+35Independent audit? What kind of stupid ***** is this? NOTHING in government has 'independent audits'. And no you haters, it's true of the government of whatever ***** country you're from too.
- cnot3, on 01/30/2008, -1/+23Of course the two can be compared. Fort Knox is the property of the American People, and we would like to know how our gold is doing.
- Look4Truth, on 01/30/2008, -2/+24Heh, that gold is long gone. They do have stacks upon stacks of increasingly worthless paper though.
- holzp, on 01/30/2008, -0/+21...its good for the stepper.
- kooft, on 01/30/2008, -7/+27Everyone knows John Travolta stole it all.
- fokov, on 01/30/2008, -0/+19rofl good observation. Just more reason to hate the Government. They want to spy on us, but if we want transcripts and videos of every single meeting and cameras with audio in every single on of their offices and hotel rooms, we are the un-constitutional ones.
- ScienceDoc, on 01/30/2008, -1/+19What was in the basement of the World Trade Center again?
- vibrokatana, on 01/30/2008, -1/+19But imagine the growth we would have without an incompetent government.
- Matteos, on 01/30/2008, -2/+19Sounds like a job for John McClane
- NinjaBoy, on 01/30/2008, -2/+19Im going to buy some gold..just in case this is all true.
- ncapone, on 01/30/2008, -2/+19Goldfinger did it!
- dracostimpy, on 01/30/2008, -1/+18How would they be going against the Fed to confiscate all the citizens' gold? That's how they bail out the Fed rather than going against it. You are made of FAIL.
- mlirblur, on 01/30/2008, -7/+23If anyone ever questions the fact that the Federal Reserve is stealing our wealth away from us, here's your evidence. A half century without a substantial audit? A halfassed excuse from some Treasury shill that can be paraphrased into "Umm..yeah! We audit it! Yep! A Lot! Noooo, we're not stealing it, that's karayzee!!"? Seems to make sense to me that something's screwed up here.
Go ahead, call me a "nutjob". Does it hurt to worry about these things? No, it does not. At least I care about something. [glares at status quo-humping moderates] - Neomatrixus, on 01/30/2008, -8/+24Wooooo Ron PAUL!
- knobtwiddler, on 01/31/2008, -0/+15your rectum is not public property. Sigh, remember the government are supposed to be "public servants?" that's our gold, or was our gold, i should say.
- adamroach, on 01/30/2008, -0/+15Sounds like a job for Mike Rowe.
- tman84, on 01/30/2008, -10/+25Tin Foil Hats - 1
Know Nothing Government Shills - 0 - krnldmp, on 01/30/2008, -0/+15But, I don't want to be from a ***** country.
- fokov, on 01/30/2008, -1/+15I did. I was think. Holy ***** GTA 4 is going to include a mission where you rob Fort Knox. I'm getting it!!!
- debunker101, on 01/30/2008, -3/+17And what does your local banker do? Read this.
Literal back breaking news!
Consumers see no break – Bankers smile
NY, Jan 30, 2008 – The Fed Cuts Rates Again – now to 3% to “improve economy and slow looming recession,” but millions of consumers are still pinched and see no immediate relief from the Federal Reserve Board decision today.
Meanwhile, Bankers sit idly by, enjoying rate cut advantage – while failing to pass on rate cut savings to consumers UNTIL THE NEXT QUARTER of 2008.
Banks will ENJOY a full 125 basis points additional PROFIT during February and March , on the backs of its customers – because of its rigid policy of NOT making adjustments, except quarterly.
Consumers are in an outrage, still being charged a 7.25% rate, based upon Wall Street Journal PRIME rate, established on Dec 11th, 2007, when it should be assessed an immediate 6% rate, due to the two rate cuts by the Fed this month!
Amazingly, however, on NEW home equity loans, the immediate lending will be at 6% - yet still charging its established customers 1 1/4% more!
“This is flat out unfair, disingenuous and a harsh “penalty” on its established customers,” according to consumers.
The Bankers continue to seize additional PROFITS on the backs of its most creditworthy customers.
“It defeats logic, fair play, and does little of much good to “improve the economy,” consumers state.
Much less looks out for the best interests of its customers, the very essential basic of “consumer oriented banking,” they added.
WAKE UP, smiling BANKERS!
As consumers are now flocking towards re-financing elsewhere, at more consumer friendly environs, and your customer base deteriorates.
Especially your most credit-worthy customers.
-------------------------------------------------------------------------------- - inactive, on 01/31/2008, -1/+15They're hardly wacky. As a precious-metals investor (have been for years), I've watched inexplicable trading patterns many times completely contrary to all economic news, and agree with many that the gold market is highly manipulated by the Fed and its cohorts to keep the dollar propped up. The Fed does that to hide the decline of the dollar due to inflation, which the Fed does by printing money by the ton. This dilutes the value of existing money of course, but makes it easy to finance war without taxing the wealthy.
And the gold vaults are no more secure than electronic voting in Florida, or Ohio, or ...
"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."
As if a seal cannot be counterfeited by other agencies in the US government? Come on, guys. - SuckMyDigg, on 01/30/2008, -1/+14That's kind of the point of this system. The debt can NEVER be paid off because each dollar represents debt PLUS interest. The debt cannot be paid off, but more and more money has to be shoveled to pay at least part of the interest, which is why we have to keep growing the economy, and thus producing more money. If you ask me it's a scary cycle that I don't see ending in anything but disaster. Same with ron paul and mad money cramer.
- shellacked, on 01/30/2008, -4/+17I don't care if gold goes to $5,000,000 and ounce, I still say you're better off owning index funds. Why? Because gold doesn't produce anything, it just sits there. When you own index funds, you own a fraction of the economy, and you get a fraction of its output as dividends.
You think the US economy is in trouble? Invest in international index funds.
Gold is only a good place to put your money when you *know* the stock markets are going to take a dump, and even then you only want to put your money in gold until the market has turned around. Because when it turns around, you're way better off in the market.
Notice how the markets are down ~16% from their peak in October? Notice how the price of gold shot up in the last half of 2007? Now the smart investors want to dump their over priced gold on you suckers and put their money back into the market.
Remember: the market beats gold in the long run. That's the horse I'm gonna keep betting on. - diggdiggerid, on 01/30/2008, -1/+14I would like to see the Fed abolished, but I realize most people aren't in support of that so the second best thing would be to at least give the Congress some oversight and allow it to be audited. We need more transparency in government.
- dracostimpy, on 01/30/2008, -2/+15But what if the economy itself is in shambles? What good is owning a fraction of something that is in ruins? Gold, on the other hand, is *always* worth something. Every major civilization throughout history eventually came to a point when the economy went into the *****, and every time, the people got rid of their fake money and replaced it with gold.
Certainly, when confidence in the system is high as has been the case over the past century of unprecedented American prosperity, the system itself will take on all comers, gold included. However, that engine of prosperity has some major mechanical problems these days, and try though Bernanke may to repair them, many of us have sincere doubts that repairing this mess is even possible. At some point, the mechanic will just say "hey, the engine's shot... let's tear it out and put in a new one".
That time is rapidly approaching, and talk of the Amero, NAU, etc only supports my suspicion that they're about to throw out the US economy entirely and start over. That would certainly go a long way toward explaining why Congress and the Executive branch ignore the citizens' wishes entirely; they're on their own special mission to scrap and rebuild America, taxpayers be damned! But how will they settle the dozens of trillions in IOUs they've already given out? Answer: INFLATE IT AWAY, Zimbabwe style.
Yes, the stock market will go up as the dollar goes down, but eventually the business owners themselves will realize that a 60% increase in their stock price means DICK when the dollar loses 80% of its value that same year. When that reality catches up with taxi cab analysts like yourself, THAT is when the TRUE stampede into gold begins, and that is when gold will erase the lead that the stock market has had over it in the past 100 years. And it will happen FAST.
Keep betting on your horse if you want, but I'll bet you an oz of gold vs $925 in index funds that you'll be killing your horse for meat sooner than me. - dracostimpy, on 01/30/2008, -8/+20Seems to me gold is a fairly reasonable yardstick anyways. For all their manipulative efforts to mask inflation, the price of gold has still tripled over the past 4 years. Just imagine what the price would be without the dumping of bullion to try to mask runaway inflation. Better yet, think of what the price WILL be when they have no bullion left to dump! Just make sure your own gold is safely outside the country before then, because that's when FDR Gold Confiscation Order of 1933 will be reinvoked by Hillbama.
- thatsmyaibo, on 01/30/2008, -2/+14"Give it back"
"Give what back?"
Cmon man! Get it right! - knobtwiddler, on 01/31/2008, -3/+15and you think a run on the bank would be their fault, not the international banking elite and federal reserve system, military industrial complex and endless spending on war?
don't shoot the messenger. they didn't engineer this collapse. - DarkSaturn, on 01/30/2008, -1/+13I'm investing heavily in bullets, the only commodity guaranteed to continue to increase in value during the upcoming total financial collapse.
- uu2b, on 01/30/2008, -0/+12Counting
- Stryder81, on 01/30/2008, -3/+15I really hope this all doesn't lead into bringing in the Amero ( http://en.wikipedia.org/wiki/Amero )
But of course, this is good news that something is being done about the f-in Fed >:-) -
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