Agreed completely. The 'leaders' of this nation are getting worse and worse on all levels. We went from this : To this : From this : [youtube]http://www.youtube.com/watch?v=tR7UCtSK54s[/youtube] to this : [youtube]http://www.youtube.com/watch?v=4YJDfW-9YXU[/youtube] Proof definitive IMHO that we're absolutely screwed.
Thanks for the interesting Paul Keating vids. I searched for more quotes and found this recent article quoting Keating and slamming Geithner. http://economic-undertow.blogspot.com/2011/01/bits-and-pieces.html I have bookmarked this site for more reading. Original SMH article http://www.smh.com.au/opinion/obama...s-keating-lets-rip-20090306-8rk7.html?page=-1 I guess some of you might have already seen this. I tried reading the Weimar book but found it dry reading so appreciate the relevant gems plucked out. I got about halfway then decided I prefer the readers digest version. Thanks.
Imagine that 30 paper mills producing papers day in day out... 150 printing firms printing notes after notes nonstop... 2,000 printing presses! So many trees have to die for worthless paper money. This is wrong!
Yeah we're lucky The Ben Bernank has a keyboard instead.. "and anothhaaaaaa zero zero zero zero zero..." "yep that'll do it"
The corrupt and bankrupt government forced their citizens to transact in their worthless currency by confiscating gold/silver and other currencies off their hands. If you think government can't and won't confiscate gold and silver, wait for currency collapse. Desperate government capable of doing anything!
As you can see, Gold's purchasing power fare better in Deflation. Because at the aftermath of hyper-inflation when deflation sets in every few people will have money to buy anything. Most of people's wealth are wiped out by inflation. Therefore once currency stabilize goods and services prices are very low to match the average citizens buying power (which is very low). This is when Gold's purchasing power multiply even more than when it was during hyper-inflation.
i personally think this is gonna be the straw that breaks the camel's back. and now it's not just queensland. new south wales has been copping it for a while and it just keeps on going. now to victoria as well, and parts of western australia. and how is it people are already forgetting that the weather forecast is gonna be rain and storms frequently for the next two months? before this last week it was already disrupting business. it's not just the cost of the repairs but all this time with people unable to get to work, businesses unable to run, debts unable to be paid, the banks are gonna sneak off to the ben bernank to ask him for another few thousand containerloads of ben franklins (or the digital equivalent thereof) and the RBA will print more to pump the ASX people will lose their houses and hell, we already had too many people up here, i hope this will force more people to move back south where they came from. certainly is putting a crimp in my movements, stuff isn't arriving that i have paid for cos the post and couriers are all buggered up, i'm in between jobs and i was just about to embark on a serious job hunting campaign and that's gonna be quite a bit more of a challenge than it was before but then again as people have been pointing out, a lot of need for cleaning and labouring work in times like these... and i have my RSA/RSG so if the pattern is somewhat similar as katrina here then i'm poised to have my wishes granted... and i'm glad i got out of the place i was working not just because of being sick of the attitude from my boss but because as it was they were going broke, with so many cars just plain written off, with customers unable to bring or retrieve cars, i'd probably find myself with a forced unpaid holiday anyway (i was working at a big smash repairer)... i'm not all that confident that this is the last of the flooding for this year in brisbane personally, there could still be more if some more of that cold air starts blowing up this way again, and it inevitably will by late february... it's at these sorts of times that i just think, imagine if the market was free and we weren't being lorded over by a bunch of thieving, lying politicians and cartel banks and corporations, how much more capacity would we have available to recover from this kind of naturally occuring destruction. instead we are like a sheep that has been shorn in the winter and the barn has blown away and now we have to cope with snow.
Long range weather forecaster - the famous one - says 2-3 cyclones in Qld over next 2 months. Hope they're mild but either way I agree on the economic effect of all these 'natural' disasters. Vic farmers have had drought, locusts, now floods. Predictions on food inflation were there before all this business. I was in Qld in September and it was very depressed. Tourists had been gone too long and for rent signs everywhere. There'll be boom times for builders and tradesmen for the next few months but the rest of business will be sagging. Funnily enough, just like Wall street and shares, the Australian consumer doesn't seem to mind the fundamentals, they just keep going. I'm starting to understand what the SS'ers who say 'patience' are meaning. Very easy to get persuaded to join the debt brigade and buy real estate. I had to sit myself down and give myself a talking to about it the other day actually. Clincher was 'it's only January Week 2!'
In closing: As you can see... convincing sheeples to buy gold is as hard as ever through out history. So don't be too upset if your friends laugh at you at buying gold, know that your forefathers suffer the same insults.
I discovered at an early age that the jewish pogroms and extermination were more about stealing wealth than anything else. Whether it's catholic vs protestant or muslim vs christian it's all about the money and the 'godlessness' of the other side is the excuse.
Those German jews that were matched into the gas chambers were everyday middle class people, some of them have substantial wealth because these guys know how to save their money and smart enough to know what Gold is. The ultra rich ones already long gone away from Germany (probably fled to England or USA), they have the money to buy their way out of trouble before the whole thing blew over.
I've just finished reading it. I would recommend it to anyone for an insight into how the masses react to inflation and deflation. The cycles are interesting. The first idea that was new to me, was that in inflation, consumers buy more. Because a) they suddenly have more cash (increased wages, an illusion) and b) they're aware they must get rid of it today, as tomorrow it'll buy less. High unemployment doesn't necessarily come along with high inflation. In Germany, they initially had full employment, but that was a case of printing money to pay for unneccesary workers. Unemployment only kicked in when the govt. debt level was so high they had to stop paying unneccessary wages, and thus started to layoff workers. Something like that. It's pretty hard reading sometimes. Lots of figures repeated over and over. But the guts of the story is interesting. Food growing was an important business to be in. Very profitable and kept you fairly well supported. Everyone needed your food. And speculating on the exchange rate was another profitable business. Until the Reichsmark was stabilised that is. Glad I read it. Thanks for the link.
Well, German treasury stop minting coinage and go with papers only. The money worth less than the metal value of the coin. It's quite interesting to find out whether those old coins worth more than the paper currencies. Probably are, but unless the coins are made of copper or silver the metal value would be too small besides I don't think people really know how to value the metal content in the coins.
in the article, they kept measuring the worth of the paper to the "gold mark", from memory. my wife is german and i may ask her father, what that gold mark was
They did mint 200 Mark and 500 Mark Aluminium coins during that period 1919-1922 most of the other ones were suspended, beginning in 1924 they restructured and started from the beginning ( with silver coins and smaller denominations )
