Gold Falls 31% As Rich Flee ETP Markets

Gold Funds See Unprecedented 31% Slump as World Loses Faith in the very silly ‘ETP’ market whereby one doesn’t own much of anything except a piece of paper saying, ‘You own part of this hidden gold hoard which you can never touch’.  HAHAHA.  One can hardly make up how silly this is.  As silly as the bitcoin scam.  Yes, a Vegas developer selling $7.85M mansion for bitcoin as a publicity stunt.  Also a OC Lamborghini dealership sells car for 91.4 bitcoins which is also a publicity stunt, too.  He could sell this car for one million roosters, for example.  Or a truckload of black tulip bulbs.  Or in exchange for sex with a house full of prostitutes or trade it for a pound of pure cocaine since many of the main customers are connected with whores and drugs.

 

Could AIG Happen Again? YOU BETCHA!

 

We just had yet another election and now Congress is pushing our government off the fiscal cliff.  Everyone is focused on this cliff while ignoring the real fiscal cliff: the annihilation of our sovereign wealth.  This was caused by military overseas spending, the US imperial work since WWII, free trade causing our trade deficit to soar to incredible levels and the floating fiat currency regime imposed by Nixon one fine Sunday several decades ago.  This real fiscal cliff has destroyed our capital base pretty completely so to keep lending money, the bankers rigged up the odious derivative bank and insurance schemes which circumvent the need for real capital.  Only, this collapsed.