Gold Price Drop While the Printing Pressses are being Revved Up...............

My thoughts are not to not listen to anything you hear in the media but listen to what the average person on the street is saying on the street.Wall Street is a money machine for a select few and they tell you, not what you want to hear, but what is good for their bank accounts.The Wall Street money machine and it's gang of liars and cheats would have of been out on the street if not for bailout the American taxpayer.
And why were they bailed out.............because Presidents are bought and paid for.

I was sucked into the housing bubble, through my own stupidity of believing what I was hearing and ended up selling at a huge loss and spending the next 6 months at the Salvation Army.My bank did ok and profited about $2500, the penalty for getting out of my mortgage.

Through this experience, I no longer believe what I hear unless it's from someone who has no financial gain through his or her comments. I also have no respect for banks and the people who run them.

Buying precious metals with any extra money I have, is my way of controlling my own destination.
Bullion coins have no debt or lies attached to them, unlike a paper Federal Reserve Note.

These are only my thoughts, opinions about the current situation vary.

 

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It's a good story and lesson for everyone. Thanks for sharing it.

 

It is telling to me that our leadership is more concerned with their ability to borrow us into oblivion than to embrace fiscal responsibility. I think everybody is on baited breath watching what gold is doing right now. I am continuing to read about talk of a Moody's downgrade of US debt, and while I don't think that means it will happen, generally things are put out there before they happen to lessen the shock value when it does happen. It is certainly a point of discussion even after the debt ceiling raise. I think a lot of people are just in disbelief. I have been of the opinion for a number of years now that there is and has been a concerted effort behind class warfare since long before any of us came into the world, and in my view we are now seeing the culmination of this. I am hoping for the best, but would recommend everyone have a contingency plan.

 

Thank you for sharing your story Rush2112. Sobering.

WIIFM; What's In It For Me? That is what my husband always pondered when 'others' offered advice on this or that.. He tried to impart to me the idea of evaluating info based on the WIIFM rule; look to see what it is 'they' stand to gain by me taking their advice. Sometimes the answers are not obvious. I like what you say, "I no longer believe what I hear unless it's from someone who has no financial gain through his or her comments." I try to follow that myself.

I'm sorry for you for your experience.

Lucy

 

Its been my experience that I have always learned more from being wrong than being right. Except when picking the horses else I'd be a genius by now.

 

It's always the same story. How do you avoid making mistakes? Experience. How do you get experience? By making mistakes.

 

I am not sure you can compare the two. Japan's debt was basically held internally while US debt is held globally.

 

Being skeptical of everything these days, I was wondering if the credit rating agency, Moody's, could be paid off to keep silent.
So I did a Google search on who Moody's is and sure enough they are listed on the NYSE and one of the top institutional owners is Berkshire Hathaway.
If this is true, then how can Moody's give a third party rating when they are in bed with Wall Street and would be cutting their own throats with a downgrade?

Is the game really this rigged?

The more I learn about Wall Street, the more cynical and angry I become.

 

I was having an argument with a friend last night over this very topic. He suggests that the powers that be are just victims of greed. I strongly disagree because if greed was there only goal, they already have succeeded in that regard.

Yes I would also agree with the sentiment that Moody is owned by wall street. Yesterday I heard Moody's had decided not to downgrade the U.S. but would expect to do so in the next 6-12 months. Syncs real well with the election cycle

 

Originally Posted by justafarmer
Its been my experience that I have always learned more from being wrong than being right. Except when picking the horses else I'd be a genius by now.

insider information is a good tool used by some of our corporate overlords.

 

I don't think that's relevant as long as the currency is issued by the debtor. The creditor doesn't really have any recourse because they can't demand payment, and in that respect, Japan and the US are identical situations.

 

The interesting thing about the SHTF tarot card readers is that historically they have never been wrong.. NEVER. NOT ONCE.
The only delimiter to rate them is thier timing, SHTF is a given and as I've said has never failed to net out.

 

Interesting read considering current state of affairs.

 

at op, off topic but rush is a great band!:hail:

and just wait a bit gold will keep going higher...

 

We can thank a radio station in Cleveland, Ohio for giving those Toronto guys some airplay back in 1974 when Silver was $5.00 and Gold was somewhere between $100. - $200. per oz.