No Tom that was'nt the case, GS was pretty much position neutral over all at the time and most of those clients were hedge funds, you know those unsophisticated investors that run $10 bil and up and brokers can do no such thing so please don't quote US law if you know so little about it.
One of my better investments
- Thread starter TomD
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No Tom that was'nt the case, GS was pretty much position neutral over all at the time and most of those clients were hedge funds, you know those unsophisticated investors that run $10 bil and up and brokers can do no such thing so please don't quote US law if you know so little about it.
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twentytwoguy
Guest
Luckily our generation had the internet and was accustomed to watching the new media like Fox News and we had Glen Beck and R. Paul warning us 6 years ago to hedge our currency against theft via devaluation and default but you have to feel sorry for the older folks more traditionally schooled that were misled by the government's moneychangers as they didn't have a clue the Fed was about to pull untold billions/trillions of dollars out of thin air and pass it around to their banker buddies who in turn colluded to invest in metals, foodstuffs and commodities driving necessities like food and energy to all time highs.
The government devalues the people's currency by 50% then tells them if they put it in the bank they can only earn a couple percent interest to live on and then they lie and tell you inflation is low and discourage the folks from owning real money like gold and silver. Sounds like a ponzi scheme if there ever was one.
I think most will be surprised how much damage the printing of the 50 trillion dollars to cover the unfunded liabilities will do over the coming years and how much worse the currency gets debauched even compared to the recent times. The 95% loss of buying power (defacto default) in the last 3 generations was bad but me thinks it is only the beginning after looking at the debt clock and Benanke's plans for infinite fiat and metals may really may shine in the coming times.
The government devalues the people's currency by 50% then tells them if they put it in the bank they can only earn a couple percent interest to live on and then they lie and tell you inflation is low and discourage the folks from owning real money like gold and silver. Sounds like a ponzi scheme if there ever was one.
I think most will be surprised how much damage the printing of the 50 trillion dollars to cover the unfunded liabilities will do over the coming years and how much worse the currency gets debauched even compared to the recent times. The 95% loss of buying power (defacto default) in the last 3 generations was bad but me thinks it is only the beginning after looking at the debt clock and Benanke's plans for infinite fiat and metals may really may shine in the coming times.
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twentytwoguy
Guest
Denying basic facts while you are looking at them is a costly mistake and brings a false comfort.
Watching your dollars fall from $1.30 to .74 cents didn't work out well for you.
Passing your 180K in debt to your children won't ingratiate them.
Pretending your country's not 14 trillion beyond broke is like pretending your not pregnant.
Getting out of a fiscal debt crisis by borrowing/printing trillions more= epic failure on grand scale.
Your the perfect sheep and they need people like you who go along over the cliff silently and without protest but luckily there are a few left not drinking the kool-aid and trying to get the facts out. Go Beck GO!!!!.
Watching your dollars fall from $1.30 to .74 cents didn't work out well for you.
Passing your 180K in debt to your children won't ingratiate them.
Pretending your country's not 14 trillion beyond broke is like pretending your not pregnant.
Getting out of a fiscal debt crisis by borrowing/printing trillions more= epic failure on grand scale.
Your the perfect sheep and they need people like you who go along over the cliff silently and without protest but luckily there are a few left not drinking the kool-aid and trying to get the facts out. Go Beck GO!!!!.
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twentytwoguy
Guest
You may be able to buy those boots for a couple hours labor tomorrow but at the current rate of inflation you better hurry up while your dollar is still worth .75 cents.
Therein lies the problem every day that they print fake dollars yours become worth less by the rules of supply/demand. Remember bread is not a nickle any more and it's been a while since it was so if you saved that nickel and tried to buy the bread in subsequent years you could no longer afford it.
Gold is not expensive it's just that your dollars are worth so little now it takes alot to buy anything.
If you kept an old silver nickel made before the govt. defaulted on your currency you could buy alot of bread today. This happens throughout all of history but is more true today as they are parabolically ramping up the printing presses like never before and have promised to print 14 trillion more dollars in the short term. So if you save those paper dollars to buy boots you will be shopping at Kmart for them if you wait too long. Of course that is why they will only give you 1.2% interest in your bank deposits to force you into risky assets like the stock market which is the last pillar holding up the ponzi scheme after the dot com and housing bubbles popped.
The only way they can pay off the debt is with devalued money and low interest rates and Ben said they will be keeping rates low for 2 more years minimum in order to scare the sheeple back into risky asset classes like stocks and bonds and r/e.
You can put lipstick on a pig but it's still a pig.
Therein lies the problem every day that they print fake dollars yours become worth less by the rules of supply/demand. Remember bread is not a nickle any more and it's been a while since it was so if you saved that nickel and tried to buy the bread in subsequent years you could no longer afford it.
Gold is not expensive it's just that your dollars are worth so little now it takes alot to buy anything.
If you kept an old silver nickel made before the govt. defaulted on your currency you could buy alot of bread today. This happens throughout all of history but is more true today as they are parabolically ramping up the printing presses like never before and have promised to print 14 trillion more dollars in the short term. So if you save those paper dollars to buy boots you will be shopping at Kmart for them if you wait too long. Of course that is why they will only give you 1.2% interest in your bank deposits to force you into risky assets like the stock market which is the last pillar holding up the ponzi scheme after the dot com and housing bubbles popped.
The only way they can pay off the debt is with devalued money and low interest rates and Ben said they will be keeping rates low for 2 more years minimum in order to scare the sheeple back into risky asset classes like stocks and bonds and r/e.
You can put lipstick on a pig but it's still a pig.
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Great post, however, based on what we've been reading I've three suggestions. You need to make the head bigger, the eyes dartier, the head more pointy.
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twentytwoguy
Guest
The research has already been done for you guys and sources given and most of this has already come to pass.
Your dollars have lost buying power and gold up 300% in just 7 years.. How's that working for you so far? bought groceries lately?
Nobody cares about stealing retirees money by devaluing their life savings?
you really want to foist your 14 trillion in debt plus interest on to your kids? seriously?
And your not embarrased for yourself?
Liberals never have a coherent argument and can never bring any facts to the table and have to obfuscate with esoteric nonsense and one-liners. Otherwise their true colors come out.
Got anything coherent to add or facts to disprove? Obama sounds more intelligent than you guys even without a teleprompter.
Your dollars have lost buying power and gold up 300% in just 7 years.. How's that working for you so far? bought groceries lately?
Nobody cares about stealing retirees money by devaluing their life savings?
you really want to foist your 14 trillion in debt plus interest on to your kids? seriously?
And your not embarrased for yourself?
Liberals never have a coherent argument and can never bring any facts to the table and have to obfuscate with esoteric nonsense and one-liners. Otherwise their true colors come out.
Got anything coherent to add or facts to disprove? Obama sounds more intelligent than you guys even without a teleprompter.
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twentytwoguy
Guest
"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof."
John Kenneth Galbraith
John Kenneth Galbraith
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Because a modest amount is actually a good thing. When you get to 11th grade I think they teach that unless you go to school on the short bus which I'm guessing is 50/50.
Really if you're going to quote a whole bunch of fancy economic quotes you should have some working knowledge of the subject material other than being able to copy and past, trust me you don't.
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twentytwoguy
Guest
Liberals are easy to spot on a gun blog and you were called out with no cogent rebuttal again.
114 trillion in unfunded liabilities will be a problem for our kids... trust me your screwing them to the wall for generations and relishing in it.
Here is what your easy money policy will get your kids:
http://www.usdebtclock.org/
Also if you think devaluing the currency by 95% in just 3 generations is a small amount of inflation and was good for the citizens what do you think will happen when they start printing exponentially to cover the debt shown on the debt clock?
Any serious replies to this very important question would be welcomed.
114 trillion in unfunded liabilities will be a problem for our kids... trust me your screwing them to the wall for generations and relishing in it.
Here is what your easy money policy will get your kids:
http://www.usdebtclock.org/
Also if you think devaluing the currency by 95% in just 3 generations is a small amount of inflation and was good for the citizens what do you think will happen when they start printing exponentially to cover the debt shown on the debt clock?
Any serious replies to this very important question would be welcomed.
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Gina1
Guest
And where do those "couple hrs labor" boots come from
As a senior citizen of 67 years, I've seen recessions come and go. The recessions of 1964, 1972, and 1980. What makes me so sad is that this one is different from all the other ones.
There was a time when things started to pick up, and money started to flow. One worker bought a new car and the workers that built the car, with their wages bought shoes, television sets, appliances, etc.
The people that built the appliances, the TV sets, or shoes, then spent their wages buying other products ... ALL MADE IN THE UNITED STATES !!!!! This circulating money allowed the wheels of the US economy to turn.
This recession is different. Go to any WalMart and 95 percent (or higher) of all the products are made overseas. TV sets, clothing, even light bulbs, are all from overseas. It's not just WalMart ... Cars and appliances come from Mexico. Computers and cell phones arrive from China. The list goes on and on.
Yes, the government has injected billions into the economy as stimulus packages. A number of projects were shovel ready to fix roads. Great. We put a large number of people to work fixing roads, but where did they spend their wages? They may have bought new TV's, new clothes, but the money left the country, and did not put fellow Americans to work. It's like trying to carry water in a sieve.
I am sad for the coming generations. Things have changed and I fear not for the better.
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twentytwoguy
Guest
Well I am a bit younger but have worked with retirees for 30 years and can say that they have been hit very hard by loss of buying power from the recent waves of inflation created during all the recent fed-induced bubbles and dislocations caused by it. Even when folks are prudent with traditional investments in real estate, stocks and bonds it has not mitigated the losses enough to prevent destruction of real buying power. The younger guys like inflation since it makes paying off say an older mortgage alot cheaper using inflated money (or buying boots like Al Lol) and the govt. likes it for the same reason but it harms the savers the most especially the old school folks that were taught to save money in traditional investment vehicles.
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twentytwoguy
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Strange coincidence?
Friedman, Dudley, Paulson, Rubin, (Geihthner worked for Rubin), and Bernanke all ran Goldman Sachs.
Then they all got lucky and each landed a job as heads of the Federal Reserve and were in charge of printing money and handing it out.
Goldman Sachs gets billions in tarp money from these ex-employees that are running the printing press.
You can't make this stuff up...... wake up and smell the coffee.
Remember the same folks were in charge of Goldman Sachs when it went belly up and they are now in charge of our economy and advising the president how to fix our problems. Like tim they all went to ivy league schools and were taught new-age economics and tossed aside traditional values and are now scratching their heads wondering what went wrong and why they were unable to perpetually sustain an economy by printing wealth.
Larry Summers was in charge at Harvard and lost the school a billion $ making bad investments and now is Obama's economic advisor.
Why tim and others condone and cover for these people and this kind of behavior is troubling and expecting a good outcome with these bozo's in charge is insanity.
Friedman, Dudley, Paulson, Rubin, (Geihthner worked for Rubin), and Bernanke all ran Goldman Sachs.
Then they all got lucky and each landed a job as heads of the Federal Reserve and were in charge of printing money and handing it out.
Goldman Sachs gets billions in tarp money from these ex-employees that are running the printing press.
You can't make this stuff up...... wake up and smell the coffee.
Remember the same folks were in charge of Goldman Sachs when it went belly up and they are now in charge of our economy and advising the president how to fix our problems. Like tim they all went to ivy league schools and were taught new-age economics and tossed aside traditional values and are now scratching their heads wondering what went wrong and why they were unable to perpetually sustain an economy by printing wealth.
Larry Summers was in charge at Harvard and lost the school a billion $ making bad investments and now is Obama's economic advisor.
Why tim and others condone and cover for these people and this kind of behavior is troubling and expecting a good outcome with these bozo's in charge is insanity.
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No friend Tim isn't covering for anybody and FYI Larry Summers had nothing to do with Harvard's endowment, Mohamed ElArian now of Pimco did. This is some of the trouble when internet econ gurus read about 4 articles and figure they got all the angles covered. And fyi all those bank handouts including Goldman [which never went bankrupt] have all been paid back in full plus interest, so those fools that ran the Fed made 15% a year for their trouble. And sparky, I'm the last person in the galaxy you'd call a liberal, I just have 35 years experience in finance.........unlike you.
Hello all, Back to the title of thread, -"better investments"-. I read one "expert" describe a commodities value was how much it would cost to be reproduced or replaced. The 2007 average mining and extraction cost is listed as $317 per oz., using the "experts" explanation of value, seems the present price would be out of line with the cost of replacement. And then you have to figure the mines will ramp up production and new mines will open, so while early investors probably won't get hurt, I still remember when Hunt manipulated the market, running up the price of silver, it was ugly when all that came down.
Charlie
Charlie
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twentytwoguy
Guest
Please stick with facts and add references as I have done- this is important stuff.
tim I know this is embarrasing and you discredit facts out of self interest as a broker but for clarity here is what the encyclopedia has to say about Summer's billion dollar loss, apology and resignation. The derivative scheme he helped develop brought him down- NOW THAT'S POETIC IRONY.
http://en.wikipedia.org/wiki/Lawrence_Summers
This is actually very important info for an investor as it allows you to see the truck before it runs over you and who is driving. If you know they want to print and dilute your currency for liberal social programs till the cows come home your decision to protect yourself and buy gold was alot easier when gold was much cheaper.. and they have a motive to support the lefties as printing money and selling ever increasing investment vehicles is pretty lucrative if you sell investments and being fiscally conservative the opposite. You can't take politics out of investing unfortunately.
tim I know this is embarrasing and you discredit facts out of self interest as a broker but for clarity here is what the encyclopedia has to say about Summer's billion dollar loss, apology and resignation. The derivative scheme he helped develop brought him down- NOW THAT'S POETIC IRONY.
http://en.wikipedia.org/wiki/Lawrence_Summers
This is actually very important info for an investor as it allows you to see the truck before it runs over you and who is driving. If you know they want to print and dilute your currency for liberal social programs till the cows come home your decision to protect yourself and buy gold was alot easier when gold was much cheaper.. and they have a motive to support the lefties as printing money and selling ever increasing investment vehicles is pretty lucrative if you sell investments and being fiscally conservative the opposite. You can't take politics out of investing unfortunately.
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