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Election as Forcing Function - Part I: On Track for a Bond Market Panic - Eric Janszen

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  • Re: Iran and IMS

    I'm enjoying your posts, Mn_Mark.
    raja
    Boycott Big Banks Vote Out Incumbents

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    • Re: Iran and IMS

      Originally posted by raja View Post
      I'm enjoying your posts, Mn_Mark.
      Which correctly characterises them as entertainment, not discourse.
      It's Economics vs Thermodynamics. Thermodynamics wins.

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      • Re: Iran and IMS

        Originally Posted by raja

        I'm enjoying your posts, Mn_Mark.
        Originally posted by *T* View Post
        Which correctly characterises them as entertainment, not discourse.
        Can one not enjoy discouse?
        Enjoyment can come from many things besides entertainment.
        Therefore, saying that one "enjoys" something does not characterize it as "entertainment".

        But I get your meaning, even though your logic is faulty . . . you don't think much of Mn_Mark's posts.
        raja
        Boycott Big Banks Vote Out Incumbents

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        • Re: Iran and IMS

          But usually people follow an "evolution" of thinking. Buddhism began in the 500 bc's and has 500 hundred years on Christianity and look at peaceful (most) not all of its followers are.

          For all we know Buddhism could have been extremely violent for a hundred years of history in India.

          Islam is a relatively young religion on the world stage.

          Zoroastrianism on the other hand is even older than Buddhism. There are many accounts of when Judaism began but as far as I know, none can be verified. Some say 1000 BC, others say 1900 BC. I find it hard to believe that it started before 600 bc

          Hinduism evolved over 2000 years from Indo-Ayran tribes but not sure when it was "officially" a religion.

          I have a suspicion a lot of what is in Christianity came from Zoroastrianism. The angels and demons concepts etc. I always found it interesting that the Japanese car company Mazda was named after Ahura Mazda the creator God. http://en.wikipedia.org/wiki/Ahura_Mazda

          The triad concept of Ahura Mazda, Mithra and Apam Napat sounds a lot like the holy trinity 3 into 1 concept in Christianity.

          While I am on this subject most of my Persian friends wear the Persian Faravahar and for the most part only call themselves Muslim in name. http://en.wikipedia.org/wiki/Faravahar

          I suspect this is widespread in Iran. In other words they are not very "muslim" imo

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          • Re: Iran and IMS

            Wow... I've never been incorrect and right at the same time before ;)
            It's Economics vs Thermodynamics. Thermodynamics wins.

            Comment


            • Where's the history of rational government?

              "Respect" for private property is therefore totally irrelevant. The government may be thieves, but to propose they will try to STEAL or forcibly take gold, when it would work better to buy it assumes that they are VANDALS. Vandals who are not greedy, but nihilistically amoral and not even interested in what's best for themselves. Into chaos and pain for its own sake - like the Joker... That is 9/11 truther tin foil hat gold bug reasoning.
              --Roger Mexico

              Politicians are primarily trying to be re-elected. They are not making rational, long term plans. I'd say the response to 9-11 had more barbarism than rationality and morality.

              Are there any historical examples of a government offering to buy gold from it's citizens at a fair price, and with low taxes? I wonder too, if they even need it. Does private sector ownership compare to the 8000 tons owned by the treasury and Fed?

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              • Re: Where's the history of rational government?

                Originally posted by Polish_Silver View Post
                I wonder too, if they even need it. Does private sector ownership compare to the 8000 tons owned by the treasury and Fed?

                Maybe you saw the Sprott piece the other day? He says that a rough accounting of gold supply and demand hints that most of the gold has left the major western central banks.
                http://www.sprott.com/markets-at-a-g...any-gold-left/

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                • Re: Where's the history of rational government?

                  Originally posted by globaleconomicollaps View Post
                  Maybe you saw the Sprott piece the other day? He says that a rough accounting of gold supply and demand hints that most of the gold has left the major western central banks.
                  http://www.sprott.com/markets-at-a-g...any-gold-left/
                  Supposing that western central banks no longer held any significant amounts of gold, what do you think that would mean going forward?

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                  • Re: Where's the history of rational government?

                    It would mean they would use something else for reserves. England once used silver until they ran out.

                    I rather doubt they're out though.
                    It's Economics vs Thermodynamics. Thermodynamics wins.

                    Comment


                    • Re: Where's the history of rational government?

                      Originally posted by BadJuju View Post
                      Supposing that western central banks no longer held any significant amounts of gold, what do you think that would mean going forward?
                      It would mean that they will go bananas trying to keep the t-bond stable. Think giant wall of taxes. End to all social programs. No medical. No social security. Most likely an aggressive war on public sector wages. Come to think of it, sounds like a right wing politicians wet dream.

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                      • Re: Where's the history of rational government?

                        Originally posted by Polish_Silver View Post
                        Are there any historical examples of a government offering to buy gold from it's citizens at a fair price, and with low taxes?
                        The Greek CB makes a retail market in gold bullion, have no idea about the taxes.
                        If a privately held central bank is to be considered part of "the government" or not is another question.

                        Here is however a curious parallel situation I just happened to be reading.

                        Sibileau by the way in a different post makes a apparently decent case for hyperinflation in the eurozone (first), have not quite got my head around the mechanism he proposes yet though.

                        Why a gold standard, alone, is not enough

                        . . .

                        The change to a commodity standard has often been then out of necessity. We witnessed one of these episodes first-hand, in Argentina, back in 1991. The local currency was decreed convertible into US dollars (i.e. a currency board) at a rate of 10,000 to 1, and assigned a new name: peso argentino. The method with which this was carried out challenges the current speculation regarding gold, according to which gold bullion would be confiscated, in order to provide reserves to a central bank daring to return to the gold standard. In Argentina, US dollars were not confiscated to back the peso. There was no need do that. On the same grounds, we don’t think gold would need to be confiscated, although one must never, ever underestimate stupidity.

                        How did Argentina implement its convertible system? The central bank adopted two relevant measures: The first was to change its charter to prohibit holding government debt. The second measure was to commit to sell unlimited dollars at the established peg of 10,000 to 1. Of course, the first measure was later violated. But that’s a discussion for another day. What it matters is that they committed to sell the asset backing their liability (i.e. the peso), but not to buy it. From then on, nobody dared to challenge the central bank until 1994-5, when the Mexican peso was devalued. And even then, the system passed the test.

                        The 10,000:1 peg was based simply on the fact that that was back then, the amount of local currency per each US dollar in reserves. It is very conceivable that, under an inflationary spiral, the US government may proceed similarly. If at that time there are x thousand US dollars per ounce of gold at the US Treasury, a peg may be established to reflect that ratio. And just like it occurred in Argentina, we would not expect the Fed to be challenged.

                        . . .
                        Last edited by cobben; 10-09-12, 03:25 PM.
                        Justice is the cornerstone of the world

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                        • Re: Bugs are the enemy, not Gold!

                          Vinoveri, think of it this way. It behooves the government to offer the highest price possible for gold to get the most gold it can and tax it at a lower level, want to know why?

                          Because gold is very important to a government trying to backstop their currency but creating dollars to give to you say at 10k oz cost the government ZERO dollars to do so.

                          Now which would you do?

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                          • Re: Bugs are the enemy, not Gold!

                            Not to mention that most gold was held in gold bars back then and not coins. The only ones to own gold were the ultra wealthy for the most part.

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