Gold

What is going on with the London gold fix at $1104. on Friday's p.m. closing? Are the English that deeply invested in Dubai?

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Permalink Reply by Zyll on December 1, 2009 at 4:41pm

Okay very well. I must have misread what you said.
Thanks!

Steve W said:

Zyll,
That is the point! You cannot prevent inflation without meaningful taxation and the elimination of unnecessary spending. Both parties want their pet programs, but neither wishes to pay for it with taxation.

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Permalink Reply by Lee Grant on December 1, 2009 at 8:06pm

Hey Gang: Nobody has told the truth about either of these wars. There is a huge number of "contract" soldiers both in Iraq and Afghanistan. I recall a nephew who was a regular soldier in the Green Berets during the first Iraq War. When he left the military he was a Deputy Sheriff while he went to school to get his Bachelor's degree. He then went to Kosovo as a "police officer" under contract at $150,000/year. These are the people that the politicians don't want you to know about. Fortunately he is now in a supervisory Air Marshal position.

Yes it does look like Gold is going to establish a floor at $ 1200 in the near future.

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Permalink Reply by Steve W on December 2, 2009 at 11:08am

Zyll,
I was actually physically ill to hear the man I worked so hard to elect go down the same military intervention road as Johnson/Bush ! No mention was ever made about how to pay for this. Further, no mention was made about the need for National sacrifice for everyone.
I remember coming home from SE Asia in 1970 to a civilian population that had no interest or gratitude for what we had experienced. They were too busy making money and watching "Laugh In" to even listen t0 what we had to say. I fear that a whole new generation of young people will be subjected to the same indifference. Please forgive the whining of an old soldier.

Zyll said:

Okay very well. I must have misread what you said.
Thanks! Steve W said:
Zyll,
That is the point! You cannot prevent inflation without meaningful taxation and the elimination of unnecessary spending. Both parties want their pet programs, but neither wishes to pay for it with taxation.

▶ Reply

Permalink Reply by Zyll on December 2, 2009 at 1:01pm

I agree with you; Obama is nothing but an extension of the same policy path started with the assassination of JFK. Eisenhower warned us of this military engine, and it has already bankrupted us. The point I was making was that this spending can only come from taxation, borrowing, or inflation (printing). Taxes have been exhausted as a politically viable means of spending, borrowing is now at a maximum where other countries are starting to refuse to lend out any more, and therefore printing or "monetizing our debt" is the only option left. Thus the contradiction I alluded to: Americans who refuse taxation but keep voting for entitlements and military protection will see inflation as the financing instrument of choice.
So I do think we're talking from the same point of view.

Steve W said:

Zyll,
I was actually physically ill to hear the man I worked so hard to elect go down the same military intervention road as Johnson/Bush ! No mention was ever made about how to pay for this. Further, no mention was made about the need for National sacrifice for everyone.

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Permalink Reply by Steve W on December 2, 2009 at 2:11pm

Z,
I wish with all my being that you were wrong, but I have nothing for a refutation. I guess we are all "Toe to Toe with thermonuclear" financial melting! Is gold the fallout shelter?

Zyll said:

I agree with you; Obama is nothing but an extension of the same policy path started with the assassination of JFK. Eisenhower warned us of this military engine, and it has already bankrupted us. The point I was making was that this spending can only come from taxation, borrowing, or inflation (printing). Taxes have been exhausted as a politically viable means of spending, borrowing is now at a maximum where other countries are starting to refuse to lend out any more, and therefore printing or "monetizing our debt" is the only option left. Thus the contradiction I alluded to: Americans who refuse taxation but keep voting for entitlements and military protection will see inflation as the financing instrument of choice.
So I do think we're talking from the same point of view.

Steve W said:
Zyll,
I was actually physically ill to hear the man I worked so hard to elect go down the same military intervention road as Johnson/Bush ! No mention was ever made about how to pay for this. Further, no mention was made about the need for National sacrifice for everyone.