Comment

Comment by XhackedbyNSA on October 11, 2010 at 9:50pm

In the same vein as my recently posted comment, an intriguing thought just came to mind.
The argument over OIL being a 'fossil fuel' versus an 'ABIOTIC' seems to be a mute point, ever since the Deepwater Horizon incident.
A 'fossil fuel' believer would have already ignored the facts that are evident (drilling 30,260 feet below the seabed, which was already 5,280 feet deep, and finding that the oil that was tapped was at least 5 MILES below the surface, hence nullifying any 'fixed-earth', 'dead plants' hypothesis, based on 'current evolutionary evidence').

The RUSSIANS found this out in the late 1970's. The EARTH continuously produces this stuff (hydrocarbon derivatives), due to natural gravometric/biological interactions within the Mantle, as well as the Core.
THEY tried to tell us that the only way to cap the well was with the use of NUKES, as they had already done this on at least 6 occasions in the past 25 years.
The wells that we currently take 'nourishment' from are relatively SHALLOW, and are also continuously REPLENISHED...unless we interrupt the natural flow by 'FRACKING' the motherlode.
In WWII, the United States was the PREMIER producer of the world's supply of OIL. If this was NOT true, then an OIL embargo against 'Imperialist' Japan would NOT have been so successful as it was!
GEE...DEEP THOUGHTS!

Comment by XhackedbyNSA on October 11, 2010 at 9:21pm

"Explain this to me like I'm retarded..."
No, I won't do that, because the questions you are posing prove that you are NOT 'retarded', or in P.C., 'mentally challenged'...
There are several good reasons why Gold (and Silver) are valuable.
I guess I'll just stick with Gold, for now.
Gold is recognized worldwide for it's intrinsic beauty and luster, but this is not the only thing it is good for.
There is a long list of uses...in the CURRENT 'technological' revolution, it was found that GOLD FOIL is very good at reflecting EM radiation, hence the usage in satellites. It also ('ironically') is good at conducting a pure electrical charge (while deflecting all the stray ions that are usually generated by A.C. genarators ['alternators'], so it seems to be quite popular in soldering high-quality electronic connections.
It's reflectivity components make it the ideal metal for usage in EMP shielding, and other uses...
ALSO, it is recognized worldwide as a medium of trade. There are TWO really good reasons for this: It is TANGIBILE (that is to say, a person can feel the weight of it, as well as see it in their hand), and it is FINITE (a limited, fixed quantity guarantees that it will not become less valuable due to artificial inflation of it's supply by BANKSTERS).

On to the NEXT issue; that of the supply in FORT KNOX:
Upon the ratification of the United States Constitution, until 1913, the U.S. forbad the States from making any thing but Gold and Silver coin, a tender in payment of debt (Art.I, sec. 10, Constitution).
From 1913 to 1933, the value of gold against the USDollar remained relatively unchanged, at about $20 an ounce...until Roosevelt decided to OUTLAW the usage of Gold as not only 'legal tender', but 'private posession'. The price, set by the Fed and Roosevelt, after this, immediately climbed to $35 an ounce...hence an immediate devaluation of the 'Fed Note', by about 34%. GEE, ever wonder why the GREAT DEPRESSION impoverished SO MANY, for SO LONG?
The U.S. had to keep up appearences in world trade, however, and with the Bretton/Woods accords after WWII, the U.S. guaranteed the pegging of the 'dollar' to the value of the Gold held in Ft. Knox, hence stabilizing the ENTIRE WORLD's economy, ravaged by 6+ years of devastation...
Long about 1971, when the Viet Nam 'police action' had all but exhausted our Gold supply, Nixon (KISSINGER!) decided that 'going off of the Gold standard' was the only viable alternative to national bankruptcy. (THE END of the BRETTON-WOODS Accord),,
Then came 1972-1973...
The OPEC accords came into being, which pegged the price of another 'tangible', yet 'variable' asset, OIL, to the value of the USDollar...
WE got the Oil Producing Export Nations to agree to allow us to buy all the oil that they could supply, as long as they accepted our 'FIAT' currency (NOT pegged to a REAL 'tangible' like Gold), and we worked into this a deal that THEY would 're-invest' their 'excess money' (those things now known as 'Fedscrips') back into BANKS operating within the United States, and WE promised them a 'healthy return' ('interest'), on their 're-investments'...
THUS, the GLOBAL EMPIRE finally came to FRUITION!
Back then, a new economic term was coined (although this has been changed in true definition by the NEOCONS and the LIBTARDS, in the past 20 years): 'PETRODOLLARS'!

This must be getting a little long-winded, but I am only up to the Carter Administration, as far as REAL economic history goes...
Suffice it to say that 'printing more non-backed fedscrips' will simply take the store of value from the already worthless paper, that has managed to lose at LEAST 95% of its value since 1913.
There is a NEW TERM arising: 'Quantitative Easing'.
THIS means that the FED is going to print MORE money, in order to try to make the money already in circulation get 'LOANED OUT', yet again.
THE BANKS are not buying into this scheme, however, as they are struggling with overinflated balance sheets which include not only the losses in the 'DERIVATIVES' 'market', but also the INSOLVENT LOAN' ('mortgage repayment')
crisis.
This is NOT just in the United States, by the way...
My NEXT post will bring you into the FIRST GRADE, if you wish to see the era from 1975-1990...

Comment by Burbia on October 11, 2010 at 7:29pm

so is the question, 'what is wrong with printing money with no gold backing?'
well, federal reserve notes are bad. solid tangible gold is good. there is shit and there is shinola. there is silicone and there is saline. there are pop tarts and there are toaster strudel. when pretend thingys replaces real thingys, it is bad. when real thingys are traded for pretend thingys, it is bad and what's happening right now. the idea of surplus and deficit you mentioned has more meaning when considering the use of gold backing federal reserve notes. this is the struggle everyone on the planet faces now, breaking away from the federal reserve or whatever version the IMF or world bank issues to other countries. i think its more like we don't need nor want corrupt banks running (ruining) our lives. boycott. strike. riot. like your life depends on it.

Comment by Lou Cypher on October 11, 2010 at 5:05pm

Just a note...
The management of surplus notes won't stop the
backlash of inflation transferred to the consumer
and widening the gap between wealth/poverty.
As Gold rises to peak, Peking rises to capitalize
on manufacturing and mining resources are more
worthwhile to exploit cubic acres of land for the
thimbles of gold contained.

Comment by Tara on October 11, 2010 at 1:26am

Yeah, many whine and cry about some gold that may or not be there in Fort Knox not thinking about how the value of that gold is set by the money changers to begin with. It's all just an illusion! Why can't people see this? Gold, diamonds and other precious metals only have value because men set a price upon them and the fiat money is created to keep us in a state of thinking that we are actually WORTH-y of something, materialistically speaking. It's all just a sick joke isn't it?

Comment by bryan l on October 10, 2010 at 9:28pm

people are just worried because of the economic down turn we are temporarily experiencing. everything will be alright. just trust your president and everything will be ok. oh and please report any suspicious activity to the department of homeland security. thank you.