350zCommTech
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Alright! I only had $8 in cash in my trading account, so I bought one share of AIG for $2.70.![]()
You better be careful. I don't think AIG is on the shorting-ban list.

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Alright! I only had $8 in cash in my trading account, so I bought one share of AIG for $2.70.![]()
Awesome! Look at that angle of ascent.
Now THERES a positive attitude.![]()
Hello,
Do not misunderstand me. I know that a move down of 777 points is a horror show for the Dow. I fully appreciate 9% in one day for the Nasdaq. And, the single greatest combined one-day plunge for all the major US markets is hard to find positive. Those facts, aside, ask these questions:
Where was the panic when the market ran to 14,000? Where was the outrage when the commodity "bulls" were running wild? Where was the SEC, Treasury Department, federal reserve, and, government while all this (as we now refer to it) "toxic" mortgage paper was being floated in the first place?
The answers are: Non-existant, nowhere to be found, and, asleep at the wheel. (And for all you partisans out there, get off it. Stop the blaming of Bush, Bernanke, and, Paulson. They were not in office when this stuff started.)
The recent emotional hystrionics that suggest we are about to head into the next "Great Depression," then, seem a bit out of line with the facts. I mean, how could we be heading for a "Great Depression" when it was...
...JUST EARLIER THIS MONTH...
That Larry Kudlow declared "Goldilocks" was back? Didn't Jim Cramer just tell us that he was "sticking his neck out" that the "lows of July" would not be hit EVER AGAIN? Didn't Erin Burnett tell us that the US economy was "Economic Nirvana" last year?
Didn't Hank Paulson tell us that there was "no problem" with the US economy earlier this year in his testimony before congress? Didn't he say that all those new and "sweeping" powers he requested would be unnecessary, unused, and, underwhelming in actual scope?
Right.
But, I told you this would happen. For PETE'S SAKE, I did a video called, "THE GREAT CRASH OF 2007" where I laid out this very scenario we find ourselves in. (Watch that video here: http://www.youtube.com/watch?v=xKBM8Q_w0wg )
That was back when I was a nut. You know, a "conspiracy theorist". Easy to laugh at, and, easier to dismiss.
So, now, Jim Cramer (et al) have co-opted my word, "Depression". That's what'll happen when all the bullish bullshit you spun proved to be, well, you know...
The bulls of yesterday are the bears of today. But, did their advice profit you much last time they forgot to take their Zoloft? No. So, why do you think they will be right this time?
There is downside ahead. Okay, no kidding. We've not seen "the bottom" yet. Got it. But, folks we are down 4,000 points in a year.
I'm telling you that this sudden panic and fear from the likes of Jim Cramer (et al) portends we are closer to "A" bottom than THE top.
Get read to buy some stocks. I'm doing my best in my Gold Service to lead the way.
The gold standard and the Great Depression
How the gold standard contributed to the Great Depression.
There always seem to be voices raising the possibility that a return to a monetary gold standard could solve all our problems. Among those championing this meme this week were Chris Mayer at Daily Reckoning, Robert Blumen at Mises Economics Blog, and some of my fellow blogjammers.
Under a pure gold standard, the government would stand ready to trade dollars for gold at a fixed rate. Under such a monetary rule, it seems the dollar is "as good as gold."
Except that it really isn't-- the dollar is only as good as the government's credibility to stick with the standard. If a government can go on a gold standard, it can go off, and historically countries have done exactly that all the time. The fact that speculators know this means that any currency adhering to a gold standard (or, in more modern times, a fixed exchange rate) may be subject to a speculative attack.
...
CDARS® is the Certificate of Deposit Account Registry Service®. And it's the most convenient way to enjoy full FDIC insurance on deposits of up to $50 million. With CDARS, you sign one agreement with a participating local bank or other financial institution of your choice, earn one interest rate, and receive one regular statement. It's that easy.
One of my NYC friends, who is a public school teacher had off today (for the holidays) and spent it at an outlet mall. She says it was crowded. Good sign for the economy???![]()
It might be the only thing we will have left to barter with.Allah, you mean the consumer actually lives to spend money on jewels. What a country.
I'm partial to rubies. I have three princess cuts in my wedding band along with two diamonds and my wife wears a .96 pigeon blood ruby as her engagement ring. I bought this jewel many years ago and have never seen one of comparable quality in any jewelry store. I had the ring designed and it has two vvs2 type quality diamonds that surround it. She has two very nice matching ruby earrings that are very nicely cut. So much for beauty.
I'm partial to rubies. I have three princess cuts in my wedding band along with two diamonds and my wife wears a .96 pigeon blood ruby as her engagement ring. I bought this jewel many years ago and have never seen one of comparable quality in any jewelry store. I had the ring designed and it has two vvs2 type quality diamonds that surround it. She has two very nice matching ruby earrings that are very nicely cut. So much for beauty.