Papa Obama statement at 1:00 pm on Bond downgrade

[The Rabbi]

no questions

probably best

What kind of response do you give to
WTF????

 

[Baruch Menachem]

Gold is up 60. who here is old enough to remember its price was $35

 

[Sherry]

no questions

probably best

Perhaps it's above his pay grade.

 

[Rat in the Hat]

Gold is up 60. who here is old enough to remember its price was $35

Not $35, but I remember buying gold coins at $45.

 

[Two Thumbs]

Even the libs have to be shamed by this by now.

Seriously, it's time to admit you elected the cool black guy and didn't get a leader.

As many of you will recall, there was much rejoycing by the left when the dow went over 10k.
By this time tomorrow, it won't be, assuming it makes it that far.

 

[Neotrotsky]

Gold is up 60. who here is old enough to remember its price was $35

Not 35

I seem to remember it
was around 300 400 per troy ounce
when I was younger

35?
that has to be what 1970 or 1965?

 

[LibocalypseNow]

Will TOTUS be there?

Prediction: He will blame anyone and everyone except himself and the democratics...

I know that's like predicting the sun will come up tomorrow, right?

Yup.

 

[Avatar4321]

If Obama makes a campaign speech...trying to place the blame...we're doomed.

If he make a Presidential Speech...calming the markets and explaining solutions...there's hope.




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There is Hope. But President Obama has nothing to do with that.

 

[Baruch Menachem]

Up until 1971 when Nixon closed the Gold window and burned down Bretton Woods, gold was priced at 35 roughly from 1936. (I am not sure, but I think they devalued in 1949, but I am not sure)
Roosevelt nationalized all the gold in 1934 and you were forbidden to own any (except in the form of rings and such)
After the dollar was separated from gold, possession by private citizens was made legal again, I believe in 1972. It briefly went up to 300 before settling back down again around 90 or so, but then has gradually worked its way up.
Because Gold, like Silver, has lots of industrial uses and the new Gold mines have trouble keeping up with demand, Gold has usually tracked the rate of inflation, but has been leading just a bit. If we continued to use gold as the basis for money we would be suffering from continuous severe deflation of about 5%
The metal markets are also subject to abuse, as the example of the Hunt brothers showed back in 1979

 

[Intense]

He will blame the tea party because they deserve the blame

Yes Dear, The Tea Party has spent all of our money and leveraged everything not nailed down. Anything you say.

 

[Baruch Menachem]

When reading a TM post you are always glad she is not in the same room nearby, and she has no sharp objects.

 

[blastoff]

C'mon, people....RELAAAAAAX!!! In spite of all that's going on Barry just said, "No matter what some agency may say, we've always been and always will be a triple-A country."

Can we have a rimshot, please?

 

[Ravi]

Finally, 55 minutes after he was supposed to appear. Blaming the TP's.

Why do you feel the need to lie?

 

[Annie]

Finally, 55 minutes after he was supposed to appear. Blaming the TP's.

Why do you feel the need to lie?

Not a lie, well he was 58 minutes late, but I was close. He did blame the TP's.

 

[BDBoop]

Finally, 55 minutes after he was supposed to appear. Blaming the TP's.

Why do you feel the need to lie?

Habit?

 

[Ravi]

Finally, 55 minutes after he was supposed to appear. Blaming the TP's.

Why do you feel the need to lie?

Not a lie, well he was 58 minutes late, but I was close. He did blame the TP's.

No, he didn't. That's just your guilty conscience's paranoia. Or you're lying.

Hard to tell.

 

[BDBoop]

Oh, I know, I know!! Paranoia grid. They hear everything filtered through paranoia.

 

[Annie]

Why do you feel the need to lie?

Not a lie, well he was 58 minutes late, but I was close. He did blame the TP's.

No, he didn't. That's just your guilty conscience's paranoia. Or you're lying.

Hard to tell.

No guilt here. It's you that is lying or delusional.

 

[Two Thumbs]

If it wasn't the TP. Who did he blame?

B/c he certainly isn't man enough to accept any responsibility.

 

[Ravi]

If it wasn't the TP. Who did he blame?

B/c he certainly isn't man enough to accept any responsibility.

Basically he blamed Congress for not doing their job and being too married to idealology. Which is true.

He has also offered both cuts and tax increases, which are the only way we'll get ahead of our debt.

It's too bad people lie so much. But of course, they are hacks.