murphy, in case you have not seen/read this yet, Stefan Molyneux on our 'masters':
IS7 -- hope you feel better. While spending time with an ex- is not always a surefire recipe for curing a headache, swimming with your daughter sure sounds like it might do it. Just don't have too many beers beforehand.
Just catching up after a few days AWOL as the Barclays thing was just doing my noodle in so had to tune out all news for a bit and immerse myself in reading a different kind of book - Fifty Shades of Grey ;)
Pining - nice to see you back & a lot of people here I am hearing speak of playing the banks at their own game - spending on credit and letting them carry the can when it all goes sour.
Murph - like Turd's podcasts on TTM but haven't checked in there for a few days. Only subscribed for a month to see how it went and not decided long term.
Hammer - I think Nigel Farage is Xty's love interest ..... (although I do like) Also when you are over count me in for a pint and a bag of chips. As for the Clash I was invited to a pink or punk party as a teenager and they were playing live. Had no idea at the time how lucky I was :)
Eric O & IS7 - flying to Berlin tomorrow for a long w/end so will indulge in a few steins and some German sausage ....
And to all my US compatriots Happy Independence Day.
Auf Wiedersehen, Pet ;)
RaRa
Look past the liberal posturing / 'court jester' constraints -- and enjoy (esp. John Oliver):
- Economists
- Wall Street
- Trickle-down economics
- Recessions and depressions
- Banks
http://www.thedailyshow.com/collections/correspondents-explain
Rara, I stand corrected. Farange is Xty's love, tabberto, hopefully, something can be sorted out nearer the time re a UK meet up. Twould be great fun :)
"Thomas Jefferson lives."
-John Adams July 4, 1826
Many do not know that both Thomas Jefferson and John Adams died on the same day exactly 50 years after the Declaration of Independence. Both had been very involved in penning the document as IS-7's painting portrays. Adams' last words were purported to be the quote posted above. Many scholars lament that he was wrong with that statement as Jefferson had died several hours previously. Personally, I tend to believe that Adams did in actuality "see" his old friend in spirit as his life was ebbing.
As a physician I have taken care of many patients in the last hours of their lives. Sometimes, if their passing is slow and peaceful, they will tell me of seeing their husband, wife or someone very close to them as their time approaches. Their conversations with me are personal and sacred at such times and I have believed in their sincerity. Despite their many flaws and differences; Adams and Jefferson corresponded extensively in their final years. I believe they were close enough in the end that such an interaction could have occurred on July 4, 1826
How simply and lovingly you describe the passing of some of your patients.
'Sacred conversations' are beautiful words of description that reveal your respect, care and spirituality.
The passing ones and their families are blessed to have you as their physician.
@Hammer
It's true that paper markets could get disrupted upon a currency collapse scenario. In such a scenario, there would be alot more to worry about than my paper assets as there would likely be a total disruption of global trade. . And there are multiple "if's" that would have to occur for me to loose my money altogether. There would have to be multiple levels of failure including clearinghouses and insurance companies. And if there are that many layers of failure, we all have something to worry about. Many have made the case, and I've posted those arguments on here, Martin Armstrong, Rick Rule, that neither a hyperinflation or a currency collapse is in the cards in our lifetime. Alot of different scenario's being played out. Any and all could happen.
At this time, I am as comfortable taking on that risk as I am with the possibility that my stack could be at jeopardy , because I have little time to evacuate from a wild fire and I wouldn't be able to get all that silver in a car. I've been quietly wondering if any of those stories are out there fro the Colorado fires, or last summer's torrent of tornado's we had in the united states. Or even the geologic calamity that you experienced first hand.
And I know from a person who has been stacking many years, when it was time to move, he couldn't lug it all. Had to cash it in, along with piles of expensive numismatic coins, and convert it to gold and cash which took a few days. So there are risks with physical as well and right now with all the wildfires in the west, millions of people in the United States still without electricity for over a week from crazy storms, we are living in a world of RISK ON for just about everything.
However, in a hyperinflationary scenario, followed by a currency collapse, with no clear replacement currency available (which as far as I understand that the IMF is standing by with one) my stack would more than cover everything I lost in paper. Even $5000.00 gold would do the job nicely.
Some beautiful acoustics:
Excalibur: Thanks for the kind comments. This one is for you:
Hmmm, things that make you go........
http://www.nytimes.com/2012/07/05/world/middleeast/oil-embargo-leads-ira...
GL, without a shadow of a doubt regarding having to bug out, au is far far superior - what other thing that you fit in the palm of your hand carry so much purchasing power" - other than the blueprints to some undiscovered technological advancement that changes the course of history (or a loved one) I can't think of any :) That is why au is tops and always will be.
'Flagellation of a female samboe slave' depicts his horror at the treatment of slaves
and this to me shows his belief in the need for respect between races. 'Europe supported by Africa and America'. Do the cast down eyes of the white woman convey shame, as the touch shows closeness? The thread of humanity connects them.
http://online.wsj.com/article/SB10001424052702304141204577508390779869810.html?mod=googlenews_wsj
China cuts rates amid growth fears
http://www.ft.com/cms/s/0/a59f6a26-c694-11e1-963a-00144feabdc0.html#axzz1zkWkQMlk
Looks to me as Nigel and Jim Rickards are diametrically opposed about how events will unfold in the future as they were with the future of Greece.
Jim Rickards@JamesGRickards
Look for #UK to join the #Euro in the next few years. UK does not have enough #gold to go it alone, will need help from Europe’s 10,000 tons.
I'm staying with paper markets probably until 2014. We could be near a speculation frenzy in many things besides the precious metals. I think Real Estate certainly. then it would be prudent to withdraw from paper markets after a frenzied accumulation of wealth.
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Were actually on good terms. That's what it needs to be for my kids, so it is.
I don't drink that often and might not make it into the pool anyway and just watch. I have a couple bad discs in my neck and I turned my head the other day and felt click/crack/ouch and it's just progressed from there into my skull/neck/shoulder. Can't turn my head real easy right now. But it's better then a couple days ago, so it's getting there.
It's just as well I don't swim. I need to catch up on 'Currency Wars' and do some reading. I'm having a hard time just plowing through it for whatever reason. It's an easy read and relevant to what we talk about on here but it almost seems like old news or I already recognize what he's getting at. I think most of us do.
We're so well informed on here from lots of sources it takes quite a bit newer info. to stimulate our interest. I'll knock off a couple chapters today.
Maybe a couple beers also.
__________________
B. Bernanke: "QE is necessary....the benefits outweigh the costs." Jackson Hole ~ 8/31/12
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