Gold Wars

In 2001, the late Ferdinand Lips wrote the definitive expose on gold market manipulation. Many think gold manipulation is a conspiracy theory, only dreamed up in recent years. Those people are wrong and ignorant of history. Instead, gold price control and manipulation is a conspiracy FACT and it has been ongoing for over sixty years, since the introduction of the current, dollar-based global currency regime.

First, some background. As most of you know, I arrived at my awakening in an unconventional way. Most pundits and analysts first grasped the rationale for manipulation and then found proof in the market action. As a trader, I saw the market action and knew that it was manipulated...I just wasn't sure why it was happening. I had to re-educate myself on monetary theory, Keynesianism and foreign exchange dynamics. Once I did that, all of the pieces fell into place and now, whenever I hear of someone who denies that gold (and silver) is manipulated, I simply shake my head and turn away as that person is either:

  • Not aware or unwilling to consider the documented history
  • Knows the history and is aware but instead chooses to deliberately misinform

A few weeks back, my friend Ned Naylor-Leyland sent me a copy of the book, "Gold Wars", by Ferdinand Lips. Ned had read it over a decade ago and it sent him off on a path for truth, a path that has taken him to his position of prominence in the precious metals world. He implored me to read it as soon as possible.

What Mr. Lips has left for us as his legacy is a detailed history of the manipulation of gold, going back to the 1930s and accelerating with the Bretton Woods Agreement at the end of World War II. He details the attempts to control price (and dollar-gold exchanges) through the 1950s that eventually led to the creation of The London Gold Pool in 1961. The LGP was "funded" with gold from eight countries, half of which was supplied by the United States, and was set up specifically to provide physical supply for the gold market anytime that price threatened to break away from the $35 cap. Sound familiar?

Global demand for gold (again, sound familiar?) led to the eventual dissolution of the LGP in 1968 but attempts to control price continued. However, the U.S. government's need for cash was so great that it's printing demands escalated. This dollar devaluation prompted other countries, led by France, to demand more and more gold in exchange for their dollar reserves. Faced with the prospect of losing almost all of the United States' gold through this Bretton Woods exchange mechanism, President Milhous I closed "the gold window" on August 15, 1971. The U.S. and, by extension, the entire world has been on a confidence-based, fiat currency system ever since.

Closing the gold window had the additional impact of making gold price manipulation even more important. The survival of the entire global currency system now relied upon trust and confidence. A sharply rising gold price was, and still is, a reflection of a general lack of confidence and trust in the viability of paper money.

And did you know this? In an attempt to spur Americans to re-acquire gold from the global market, President Chevy Chase signed a bill in 1974 making it legal once again for American citizens to own physical gold. The law went into effect on January 1, 1975. Do you know your history well enough to know when The Comex began trading paper gold futures? (It's OK. I didn't know this, either.) Trading in Comex gold futures was launched on December 31, 1974. Isn't that handy? Well, anyway, Mr. Lips' book is chock full of nuggets such as this one and it's why I'm so emphatically recommending it to you today.

Here's one more example. This is a copy and paste of pages 102-104. Read this first and then we'll adjust a few things and have some fun:

Failure of the Greatest Bear Raid in History (1975-1976)

Meanwhile, the U.S. Treasury still thought it was stronger than gold. It announced its first gold auction at about the same time Americans were allowed to buy back what had been taken from them by Roosevelt. In December of 1974, a few days before U.S citizens were permitted to buy gold in any form, official Washington started its historic bear raid. When Nixon closed the gold window in 1971, the U.S. government was afraid of losing more gold. Now, the fear was that an additional appreciation of the gold price would further discredit the fiat dollar.

In the meantime, many Europeans were equally brainwashed and believed in the efficacy of the dollar again. In Europe, it was at least technically possible to buy physical gold. Again, the best- organized market was in Switzerland, where service was perfect in even the smallest branch offices in tiny villages. But there were also many statist hurdles to be overcome in Europe.

In many countries heavy value-added taxes (VAT) were imposed, which discouraged would-be buyers. In America, buying physical gold was not easy. There were so many hindrances that millions of would-be buyers gave up. The bank staff at the teller level was not well trained, but trained enough to discourage customers from buying gold. The public in general had no idea where gold could be bought. Many had never seen a gold coin in their lifetime. In short, buying gold was made very difficult. Even Paul Volcker did not know where to buy gold. One day he asked John Exter, former central banker and director of ASA, "John, where do you buy your gold coins?"

In a publication by the AIER Why Gold? by Ernest P. Welker, the bear raid and its failure are very well described:

Beginning in 1975, the United States, aided by the principal members of the International Monetary Fund (IMF), began a Bear Raid on the gold market of the world. It was a raid of unprecedented proportions and duration. The underlying purpose of this raid was to convince the citizens of the major nations that paper currencies are better than gold. Success of the operation would ensure that inflating by excessive issues of paper currencies could continue indefinitely.

Every effort was made to convince the public that gold is a barbaric relic, outmoded by the ingenuity of man in devising new, rational monetary systems.

Some economists predicted that gold would prove to be nearly worthless in the absence of an official demand for monetary purposes. Some observers suggested figures near $25 per ounce as the probable equilibrium price for gold based on non-monetary demand.

Monetary officials had good reason to devise and implement their bear raid. During 1973 and 1974, general prices increased in double-digit rates in most countries, and the price of gold rose more than 200%. There was talk in this period about the possibility of runaway inflation, a flight from currency, and a collapse of international monetary arrangements.

In January 1975, the first gold auction took place. Two million ounces were sold. In June of the same year a second auction took place with half a million ounces sold.

In August 1975, and in a further move to demonetize gold, the Group of 10 (G-10) leading industrial nations and Switzerland decided that official reserves of the G-10 and the IMF should not be increased. To the contrary, it was decided that the IMF gold stock should be decreased by 50 million ounces, of which 25 million ounces were to be sold over a four-year period. The first auction took place on June 2, 1976, and the last on May 7, 1980.

But gold was stronger. After having reached a low of $103.50, it started its historic upward move reaching a level of $430 in September of 1979.

OK, now I'm going to Copy and paste that section again. Only this time, I'm going to bring it up to current day with changes and emphasis added:

Failure of the Greatest Bear Raid in History (2011-2013)

Meanwhile, the U.S. Treasury still thought it was stronger than gold. It announced its first gold auction at about the same time Americans were allowed to buy back what had been taken from them by Roosevelt. In September of 2011, a few days after the credit rating of the U.S. was downgraded and the Swiss Franc was officially pegged to the euro, official Washington started its historic bear raid. When Nixon closed the gold window in 1971, the U.S. government was afraid of losing more gold. Now, the fear was that an additional appreciation of the gold price would further discredit the fiat dollar and fiat euro.

In the meantime, many Europeans were equally brainwashed and believed in the efficacy of the dollar and euro again. In Europe, it was at least technically possible to buy physical gold. Again, the best- organized market was in Switzerland, where service was perfect in even the smallest branch offices in tiny villages. But there were also many statist hurdles to be overcome in Europe.

In many countries (including India) heavy value-added taxes (VAT) and other taxes were imposed, which discouraged would-be buyers. In America, buying physical gold was not easy. There were so many hindrances that millions of would-be buyers gave up. The investment firms at the broker level was not well trained, but trained enough to discourage customers from buying gold. The public in general had no idea where gold could be bought. Many had never seen a gold coin in their lifetime. In short, buying gold was made very difficult. Even Paul Volcker did not know where to buy gold. One day he asked John Exter, former central banker and director of ASA, "John, where do you buy your gold coins?"

In a publication by the AIER Why Gold? by Ernest P. Welker, the bear raid and its failure are very well described:

Beginning in 2011, the United States, aided by the principal members of the International Monetary Fund (IMF), began a Bear Raid on the gold market of the world. It was a raid of unprecedented proportions and duration. The underlying purpose of this raid was to convince the citizens of the major nations that paper currencies are better than gold. Success of the operation would ensure that inflating by excessive issues of paper currencies could continue indefinitely.

Every effort was made to convince the public that gold is a barbaric relic, outmoded by the ingenuity of man in devising new, rational monetary systems.

Some economists predicted that gold would prove to be nearly worthless in the absence of an official demand for monetary purposes. Some observers suggested figures near $850 per ounce as the probable equilibrium price for gold based on non-monetary demand.

Monetary officials had good reason to devise and implement their bear raid. During 2010 and 2011, after the initiation of QE∞, general prices increased in double-digit rates in most countries, and the price of gold rose more than 80%. There was talk in this period about the possibility of runaway inflation, a flight from currency, and a collapse of international monetary arrangements.

In January 1975, the first gold auction took place. Two million ounces were sold. In June of the same year a second auction took place with half a million ounces sold.

In August 1975, and in a further move to demonetize gold, the Group of 10 (G-10) leading industrial nations and Switzerland decided that official reserves of the G-10 and the IMF should not be increased. To the contrary, it was decided that the IMF gold stock should be decreased by 50 million ounces, of which 25 million ounces were to be sold over a four-year period. The first auction took place on June 2, 1976, and the last on May 7, 1980.

But gold was stronger. After having reached a low of $1180, it started its historic upward move reaching a level of $??,??? in September of 2016.

Proof once again that though history may not repeat, it certainly does rhyme.

Below is a link to Amazon if you'd like to buy a hard copy of this excellent book. You can also find it online in pdf format by clicking here: http://www.fame.org/pdf/Gold%20Wars%200-9710380-0-7%20%20-%2001.21.02.pdf

Just as Ned did for me, I implore you to buy/read this book immediately. At this critical time, you must know the history of gold and gold manipulation. Once armed with knowledge and facts, no one will be able to mislead you into selling the most important asset you will ever have.

TF

 

90 Comments

wouldyoubelieve...'s picture

1st

wow, kitco imploding, says gold down $48, but spot is $1271, someone loan them a calculator

kryton619's picture

Deux

First top 5!!!!

As I get older, the phrase "history repeats itself" becomes more evident.

Mr. Fix's picture

House republicans schedule impeachment hearings!

House Republicans Schedule Obama Impeachment HearingsHouse Republicans Schedule Obama Impeachment HearingsRepublicans in the House of Representatives have scheduled impeachment proceedings against President Obama, claiming his inability to halt the federal government shutdown makes him unfit for office.
 
Congresswoman Michele Bachmann introduced a resolution to impeach Obama this morning and referred the matter to the House Judiciary Committee. Senior aides close to judiciary chairman Bob Goodlatte say hearings will begin Thursday.
 
"I think it's high time President Obama be held accountable for his crimes," explains Bachmann, "For two weeks now, vital government services have been disrupted, federal workers have gone without pay and national memorials have been closed - all because of the president's refusal to negotiate over Obamacare.
 
"This isn't just poor leadership. The Obama administration is corrupt to the core. The scandals surrounding the IRS, Benghazi, Fast in the Furious and Solyndra have shown us this cabal will do anything to stay in power.
 
"But in shutting down the government President Obama has committed economic treason against the United States of America, and he must be removed before it's too late. The Constitution provides us the mechanism of impeachment. It's time to end this dictatorial regime and return the presidency back to the American people."
 
Read more here:

http://www.codewit.com/north-america/13034-house-republicans-schedule-obama-impeachment-hearings

PS:

Turd,

Thank you for the book report, I've been anxiously awaiting it.

And don't worry about me selling my  gold anytime soon, my wife has been trying to talk me into that for the past couple years.

She doesn't have a chance.wink

What the heck just happened here?

Talk about manipulation![Most Recent USD from www.kitco.com]

3rd!smiley

achmachat's picture

nice!

this is very timely.

I read this book yesterday after somebody linked to it on main street.

(thank you, O thou whose name I have forgotten)

Turd Ferguson's picture

Of course...

MODERATOR
silver66's picture

Well written

Buy and read

Download and read, just F#%kin read it smiley

Silver66

JAL's picture

History Repeating...

Great post Turd!yes

Turd Ferguson's picture

Btw, if you're looking for charts...

MODERATOR

This is the only one that matters:

Mr. Fix's picture

Does anyone still think this matters?..... ;)

So Much For Negotiating: White House Rejects House Republican Proposal

Before Boehner and his merry men even had a chance to explain themselves, the White House has pre-empted...
  • WHITE HOUSE SAYS LATEST FISCAL PROPOSAL FROM HOUSE REPUBLICANS IS "PARTISAN ATTEMPT TO APPEASE A SMALL GROUP OF TEA PARTY REPUBLICANS
  • WHITE HOUSE SAYS DEMOCRATS, REPUBLICANS IN SENATE HAVE BEEN WORKING IN GOOD FAITH ON FISCAL IMPASSE, AND TIME FOR HOUSE TO DO SAME
  • WHITE HOUSE REJECTS HOUSE GOP PROPOSAL TO RAISE DEBT LIMIT AND REOPEN GOVERNMENT

Between Boehner's "Senate bill is hand grenade" and Van Hollen's "House Bill is reckless" comments, how anyone can argue we are getting closer to deal is beyond us... Obama is at least consistent -"unconditional surrender or default" remains the only play for now...

 
Turd Ferguson's picture

And again

MODERATOR
Mickey's picture

gold wars

also, if you can figure out what Larry Summers is saying in Gibsons Paradox, you see its how to manipulate interest rates and gold together. Not that the US or Fed would manipulate interest rates or anything.

I think summers uses the word "control" vs manipulate.  A fine person to have been treasury secretary and advisor to Obama and to be considered for fed chief.

Paul O Neill was honest and look what happened to him

Turd Ferguson's picture

This is cute

MODERATOR

Gotta love Kitco. Down $47.50??

Bollocks's picture

Haha - speaking of gold...

Just as I agreed with SilverDog66 in the last thread that Atkinsons are the cheapest in the UK for gold and silver, I've now noticed they have just launched a new website and have whacked their prices right up!

They're now one of the most expensive for gold, and their silver looks to be about average for the UK. This is a big change from before the new site went up.

Bugger. That's them off my list. Oh well.

Urban Roman's picture

No no no,

The President's name was Gerald Ford. Chevy Chase was the guy that did him on SNL, back when SNL was funny. 

Levon's picture

Can anyone remember a more negative time?

I can't remember a more negative time in the gold market. Every bank and analyst I have ever heard of is calling for $1000 or lower. Even Grandich seems to have thrown in the towel to the manipulators and says gold will only go up when Goldman says so. For the past 13 years negativity from the MSM has meant nothing more than the best time to buy but I have never seen such a universal hatred of gold. I can only think of Turd and Clive Maund as positive in the near term (and Maund has probably changed his call 6 times since). Each time the negativity has arisen I have bought but this time the negativity is truly overwhelming. I have a feeling that the smash to break the back of the bull is imminent and it could stay down for months. Not a good feeling.

Turd Ferguson's picture

Hard to find links

MODERATOR
Response to: No no no,
Turd Ferguson's picture

Well, this is interesting

MODERATOR
JY896's picture

NPR morning show host openly talking USD failure...

...with Simon Johnson. Manipulation of global economy, a reserve currency propped up with smoke & mirrors, Ron Paul, the need for countries worldwide to find dollar alternatives...

Wow. Nothing new for us, but amazing to hear from a source that NEVER fails to find a positive side to any government policy being discussed.

Hammer's picture

http://www.atimes.com/atimes/

http://www.atimes.com/atimes/World/WOR-02-151013.html

This is it. China has had enough. The (diplomatic) gloves are off. It's time to build a "de-Americanized" world. It's time for a "new international reserve currency" to replace the US dollar. 

It's all here, in a Xinhua editorial, straight from the dragon's mouth. And the year is only 2013. Fasten your seat belts - and that applies especially to the Washington elites. It's gonna be a bumpy ride. 

Long gone are the Deng Xiaoping days of "keeping a low profile". The Xinhua editorial summarizes the straw that broke the dragon's back - the current US shutdown. After the Wall Street-provoked

financial crisis, after the war on Iraq, a "befuddled world", and not only China, wants change. 

This paragraph couldn't be more graphic:

Instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.

 
Sparks fly out my ass's picture

Figured out what to do with my phyzz

I'm getting a "grille"! Nice post Turd.

Turd Ferguson's picture

Teach your children well

MODERATOR

Some folks teach their children to take the initiative, go out and fix the situation themselves.

Some folks teach their children to sit around and wait for "the government" to do something about it.

Which are you?

http://ca.news.yahoo.com/squirrels-relish-white-house-kitchen-garden-shutdown-sidelines-220104454--business.html

http://obamafoodorama.blogspot.com/2013/10/during-government-shutdown-michelle.html

Do you wait for the government to fix it OR do you grab your kids and say: "Get off your butt. Let's get outside, weed the garden and pick the vegetables!"

murphy's picture

new from Grant Williams

The Fed Breaking Bad.

During my recent hiatus a number of things happened which I suspect will be the subject of feverish debate amongst the chattering classes (myself included) for months if not years to come.

Amidst it all was a bald, bearded man of a certain age, who had transformed himself from a lifelong academic into a feared and almost mythical leader, becoming in the process the focus of the world as he stared down all kinds of trouble in the name of protecting his "family".

This man did whatever he felt was necessary in order to further his agenda; and though it meant making many enemies, he dared look straight into the eyes of both his detractors and those who would defy him, and he never blinked.

He did what had to be done.

But lately he had been trying to find a way out. He didn't want the responsibility anymore, and he felt as though it was time to quit and leave the empire to whoever was bold enough to seize it.

Sure, he tried to quit, but that wasn't something he could just do on a whim. Loose ends needed to be tied up, and promises had to be made good and powerful people placated.

For anyone who doesn't know the outcome of this tale, don't worry that I might ruin the ending ... because that outcome hasn't been written yet. The best we can do is just guess at how it all plays out.

Wait? What? Oh... Breaking Bad? Nooooo... I wasn't talking about Walter White, I was talking about Ben Bernanke. Except, he DID blink...

Freaking%20Fed%20Sized.psd

http://www.mauldineconomics.com/ttmygh/chekhovs-gun

And as our friend Green Lantern has been talking about where the inflation is... You just have to know where to look

In March of 2008, Bear Stearns received a 28-day, $25 billion loan from the Federal Reserve in order to avert its collapse (and the global financial system being brought to its knees), and just days later that $25 billion loan to Bear Stearns morphed into a $30 billion loan to JP Morgan, who in absorbing Bear Stearns kept the global financial system from being brought to its knees.

Six months later, on September 15th, Lehman Brothers went belly-up; and in order to stop the global financial system from becoming the global financial system being brought to its knees, Buysenberg and then-Treasury Secretary Hank Paulson (or, as they were known back in those days, "Los Pollos Hermanos"), crafted a $787 billion bailout package (the Fabled TARP), which, thankfully, prevented the global financial system being brought to its knees.

Los%20Pollos.psd

Now, a mere five years on, we find ourselves in the position of requiring roughly three Bear Stearns bailouts every month just to keep things humming.

Put another way, we require 23.6 LTCM bailouts or 65.38 Baring Brothers bailouts every month, just to keep the global financial system from being brought to its knees.

"How does that stack up against CPI?", I hear you say. Well, I'm glad you asked.

The $1.3 billion tab for Barings in 1995, when adjusted for CPI, equates to $2 billion in 2013 dollars.

But the Fed is spending 42.5x that amount. Every. Single. Month.

No inflation, you say? Well some things are increasing in price at an annualised rate that belies the 1.8% core rate published by the BLS. We've already looked at bailouts, and there's never any shortage of press about wine auctions or fine-art sales breaking record after record, but what about... oh I don't know, diamonds, perhaps?

(Sky News): A "flawless" white diamond which is the size of a small egg has been sold at auction for a record $30.6m (£19m).

The 118-carat oval gem is the largest and most significant such diamond graded by the Gemological Institute of America.

It weighed 299 carats when it was mined in southern Africa in 2011 but Sotheby's will not name the country because the seller wishes to remain anonymous.

Two phone bidders competed for the diamond in six minutes of bidding until one dropped out.

It was bought for $27.3m at the jewellery auction in Hong Kong, but the total price including commission came to $30.6m.

That was more than the previous record of $26.7m (£16.6m) for a white diamond set in May at Christie's in Geneva, Switzerland.

Or maybe racehorses?

(Yahoo): A world record fee has been paid for a one-year-old filly which became the most expensive horse in history.

Qatari Sheikh Joann Al Thani successfully bid five million guineas (£5.25 million) for the yearling filly at the Tattersalls bloodstock auction in Newmarket.

The as-yet-unnamed filly is the daughter of the most sought-after stallion on the planet, 2001 Derby winner Galileo, and Alluring Park, and became the most expensive horse of any age sold at public auction in Europe, beating a record set in 2006 by Magical Romance (4.6m guineas).

But... tuna fish?

Last January, a world record was set for the most expensive bluefin tuna fish ever sold, when Kiyoshi Kimura, president of the Japanese chain Sushi Zanmai, bought a 593-pound fish for US$736,000. The previous record? $416,000.

This year, Kimura-san outdid himself:

(Eater.com): Kiyoshi Kimura, a businessman who owns the Sushi Zanmai chain of restaurants in Japan, has once again set the record for purchasing the most expensive bluefin tuna ever. According to the New York Times, Kimura paid 155.4 million yen (US $1.76 million) for the 488 pound fish. That's around $3,600 per pound. Kimura also set the same record about a year ago when he paid $736,000 for a 593 pound bluefin.

For those of you at home doing the math on a cost-per-pound basis, that's an increase of 290% in 12 months.

Inflation goes where the money goes — and the money is going to the wealthy, so is it any wonder we read pieces like this?

Turd Ferguson's picture

To that end and along those lines

MODERATOR

Posted yesterday in The Vault:

I guessed that the GLD would need to shed another 10-15 mts before October ends. It got clipped for another 1.85 mts today so now we just need to lose another 8-13 cheeky

New GLD "inventory" is 889.13 mts. This is now down 460.79 metric tonnes YTD or 34.13%.

Btw, 460.79 mts = 14,814,742 troy ounces of gold or a little more than 37,000 London bars.

14,814,742 troy ounces also equals 460,790 kilograms of gold

OR

460,790 of these babies:

(No wonder all those Swiss refiners are so busy...)

dgstage's picture

China Call’s To “Pull the Plug” on the US Dollar

China Call’s To “Pull the Plug” on the US Dollar and “De-Americanize” ASAP – Obama’s America Called “World Parasite” – World Financial Leaders Say this is the 3rd Time Obama Screwed Up, No More Chances.

http://beforeitsnews.com/obama/2013/10/chinas-calls-to-pull-the-plug-on-the-us-dollar-and-de-americanize-asap-obamas-america-called-world-parasite-2456682.html

Turd Ferguson's picture

Understand this

MODERATOR

http://www.zerohedge.com/news/2013-10-15/usa-credit-risk-now-worse-2011

...the fact that the cost of 1Y protection is at 2011 extremes (implying around a 6.5% probability of default) and has been higher (inverted) relative to 5Y now for 3 weeks is a clear indication that investor anxiety is very high this time (just look at T-Bills!)....

Mr. Fix's picture

These guys just keep doubling down on dumb!

Nobel Prize Winner as Keynesian Crackpot

  •              

economicpolicyjournal.com

October 15, 2013

So what does one of the latest Nobel Prize winners, Robert Shiller, think causes unemployment? Capitalism.

I am not making this up.

In a paper titled,  Austerity and Demoralization, he wrote:

Unemployment is a product of capitalism: people who are no longer needed are simply made redundant. On the traditional family farm, there was no unemployment.

The man doesn’t understand simple supply and demand economics, which teaches that any unemployment is transitory (unless government regulations somehow distort the market, e.g. minimum wage laws, unemployment payments). Shiller, further, has no clue as to the phases of the business cycle and why there is a sudden cluster of unemployment in the liquidation phase of the business cycle.

One solution he promotes, though he ultimately dismisses it, is this, which reinforces the idea that he just doesn’t get supply and demand economics:

Work-sharing might keep more people marginally attached to their jobs in an economic slump, thereby preserving their self-esteem. Instead of laying off 25% of its workforce in a recession, a company could temporarily reduce workers’ hours from, say, eight per day to six.

Unless, we are in paradise, there is always demand for workers. The central bank caused business cycle downturns are simply a period when work opportunities shift—no need to force employers into misallocating labor via work-share programs.

Shiller ultimately turns to a  Keynesian 101 solution. More government spending:

[W]e need fiscal stimulus – ideally, the debt-friendly stimulus that raises taxes and expenditures equally. The increased tax burden for all who are employed is analogous to the reduced hours in work-sharing.

But, if tax increases are not politically expedient, policymakers should proceed with old-fashioned deficit spending. The important thing is to achieve any fiscal stimulus that boosts job creation and puts the unemployed back to work.

Yes, anything involving government spending—just don’t allow the free market to resolve central bank induced episodes of high, but transitory unemployment.

That’s the new Nobel prize winner.

 
SteveW's picture

Impeachment hearings

Oh great, if this gains traction it surely increases the likelihood of Obama seizing absolute power due to the debt ceiling emergency affecting National Security. A possibility I understand is already encoded into law and regulation.

May you live in interesting times.- Ancient Chinese curse.

Bollocks's picture

Turd

You forgot to add the link in to Amazon.

Hammer's picture

To be fair, the article I

To be fair, the article I referred to ends,

Of course, the purpose of promoting these changes is not to completely toss the United States aside, which is also impossible. Rather, it is to encourage Washington to play a much more constructive role in addressing global affairs.

And among all options, it is suggested that the beltway politicians first begin with ending the pernicious impasse.

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