Anyone see today's Australian? 1 x article on Res. bank selling our Gold (Exchequer-style); and another on 'Investors are buying gold, platinum and silver as a safe haven'
And then this from SMH: Paper pauper - could the Fed go broke? http://www.smh.com.au/business/paper-pauper--could-the-fed-go-broke-20110111-19luh.html Implications?
From the article "Asked about the issue of potential losses during congressional testimony on Friday, Fed chairman Ben Bernanke suggested the risks were minimal. If liabilities on the Fed's balance sheet were to exceed its assets, it would only be so because of rising interest rates in the context of a thriving economy, he suggested. ." Just like in Greek and Ireland
Its rigged and they own the game - the "house" always wins The Fed is an organisation - its just a corporate entity - the ones pulling the strings really dont care
Oh I hear ya. If we're looking at it that way... they're already broke, aren't they? I mean, their digital currency isn't worth the paper it's not even printed on anyway! It's like buying 'currency' on your facebook games really, or World of Warcraft 'Gold' that doesn't actually exist! TOTAL SHAM! Give me the stuff you can actually HOLD that has intrinsic value ANYDAY thanks!
Like a religion; you only can build huge temples if enough people believe in it, but once the faithfuls see the devil inside the temple they will panic and burn the place.
It's not the Fed that goes broke. It's the US government that defaults on its debt when revenue from taxes is no longer enough to cover the interest payments on the debt. I think I read they're only 5-10 years away from reaching that threshold.
It'll be a lot sooner if the rates go up from where they are. But if the rates don't go up, they cannot attract investment dollars anyway. It's a sinking ship now where they're damned if they do, damned if they don't. Show's over and the wall street criminals are raiding the cupboards in broad daylight now before the rest of the sheeple catch on.
