OT: Countdown: Three Weeks to Chaos

[partypup]

[quote=Eugene]false rumor, encouraged and spread by some less than knowledgeable writers, of the oil nations turning away from the dollar was the catalyst for the stampede this past week into Gold. That rumor was later decisively quashed by Reuters. [/quote]

Hmmmm…so this is a false rumor because it’s been “decisively quashed” by Reuters? Wow, I’ll be sure to pay more attention next time when Reuters says that recovery and “green shoots” are in sight. LOL.

Of course the usual suspects are going to deny that the meeting took place, Eugene! Do you really expect them to admit, “Yeah, you got us. We were trying to dump the dollar and hoped to keep it under the table. Boy, you guys are good. Nicely done, Fisk!”

The good Mr. Nadler may have theories, as he sits in his little cubicle at Kitco. But Mr. Engendahl has actually spoken with the folks who matter:

“The secret plan was first reported by respected Middle East correspondent, Robert Fisk, in the British newspaper The Independent. [2] Fisk claims to have confirmed the existence of the plan from Arab as well as Hong Kong Chinese sources. I have confirmed from very senior and well-informed Gulf sources that the talks are real.”

http://www.atimes.com/atimes/Middle_East/KJ09Ak01.html

Max Keiser is also hearing the same thing from his sources in Paris and the MidEast:

Eugene, I don’t know how old you are, but if you are over 40 you should absolutely know NOT to believe something – until it is officially denied. And in fact, a Chinese banker quoted in the Fisk article prepared the more aware among us for this outcome:

“These plans will change the face of international financial transactions,” one Chinese banker said. “America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.”

Sorry to break it to you, Eugene, but gold didn’t even shoot up like this when the market collapsed last Fall. That’s when the real “panic” occurred – when the world was visibly falling apart – and yet gold did not move to $1060. Strange, don’t you think, that it is moving determinedly higher now without a market collapse on the front page of newspapers? That’s because something different is happening now. It’s not panic; it’s the methodical, deliberate destruction of the dollar.

If you pay close attention, you’ll notice that gold is not moving swiftly like a bull in a china shop; rather, it is moving slowly and methodically in an upward trajectory, dropping back a bit, then holding, then inching upward again.

This isn’t “panic”. This move indicates heavy players who are attempting to accumulate large sums of the metal without sending the market into convulsions by driving up the price quickly. This is precisely what one would expect from players who are moving in secret, while simultaneously denying that they are making moves.

You can fight what’s coming all you want, but it won’t change the outcome. You can either get on this train or get mowed over by it, Eugene. Your choice. But denial is futile at this point.

Enjoy your dollars – while you can.

[Arraya]

What the hell does a congressman do when they get a report like this.

Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly

* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.

* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!

* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.

[Arraya]

What the hell does a congressman do when they get a report like this.

Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly

* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.

* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!

* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.

[Arraya]

What the hell does a congressman do when they get a report like this.

Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly

* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.

* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!

* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.

[Arraya]

What the hell does a congressman do when they get a report like this.

Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly

* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.

* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!

* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.

[Arraya]

What the hell does a congressman do when they get a report like this.

Three recently released government reports now point to fiscal doomsday for America; and one of the reports, issued by the Congressional Budget Office (CBO), says so explicitly

* The CBO paints two future scenarios for the U.S. budget deficit and the national debt. But it plainly declares that fiscal disaster will strike in EITHER scenario. Furthermore …

* The CBO states that its fiscal disaster scenarios could cause severe economic declines for decades to come, including hyperinflation and destruction of retirement savings.

* The CBO then proceeds to admit that even its worse-case scenario could be understated by a wide margin due to panic in the financial markets or vicious cycles that are beyond control.

* Separately, in its Flow of Funds Report for the second quarter, the Federal Reserve provides irrefutable data that we are already beginning to witness the first of these consequences in the United States: an unprecedented cut-off of credit to businesses and consumers.

* Meanwhile, the Treasury Department shows that America’s fate remains, as before, in the hands of foreigners, with the U.S. still owing them $7.9 trillion!

* And despite all this, neither Congress nor the Obama Administration have proposed a plan or a timetable for averting these doomsday scenarios. Their sole solution is to issue more bonds, borrow more, and print more without restraint.

That is the epitome of insanity.

[Aecetia]

Obviously, they hide there head in the sand and vote for it. No historians in Washington!

[Aecetia]

Obviously, they hide there head in the sand and vote for it. No historians in Washington!

[Aecetia]

Obviously, they hide there head in the sand and vote for it. No historians in Washington!

[Aecetia]

Obviously, they hide there head in the sand and vote for it. No historians in Washington!

[Aecetia]

Obviously, they hide there head in the sand and vote for it. No historians in Washington!

[Arraya]

They must be shitting their pants at this point. There won’t be any kicking the can down the road this time.

[Arraya]

They must be shitting their pants at this point. There won’t be any kicking the can down the road this time.

[Arraya]

They must be shitting their pants at this point. There won’t be any kicking the can down the road this time.

[Arraya]

They must be shitting their pants at this point. There won’t be any kicking the can down the road this time.

[Author]

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