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Amazing Coincidence – Bernanke gets a grilliing and the next day the Employment up, Dollar up, Gold Down

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  • Fri, Dec 04, 2009 - 02:48pm

    #1
    Ken C

    Ken C

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    Amazing Coincidence – Bernanke gets a grilliing and the next day the Employment up, Dollar up, Gold Down

I find it fascinating that the day after Bernanke testifies to congress the Employment report gets revised upward, The dollar strengthens, gold is down and all is right with the world.

 

I smell a rat and it smells like the PPT in overdrive

 

I have to go now – time to get some more gold and silver

 

Ken

 

  • Fri, Dec 04, 2009 - 03:17pm

    #2
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

The spin in the news today is the unemployment rate went done by one calculation but jobs were still cut by other surveys; of course the positive statistics get played up as “unexpected” good news and the negative doesn’t count because it “sometimes varies”.

http://finance.yahoo.com/news/Nov-jobless-rate-falls-to-10-apf-4164274048.html?x=0&sec=topStories&pos=main&asset=&ccode=

  • Fri, Dec 04, 2009 - 03:54pm

    #3
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

PPT has been REALLY busy these days! 

  • Fri, Dec 04, 2009 - 10:30pm

    #4
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

[quote=kenc]

I find it fascinating that the day after Bernanke testifies to congress the Employment report gets revised upward, The dollar strengthens, gold is down and all is right with the world.

I smell a rat and it smells like the PPT in overdrive

I have to go now – time to get some more gold and silver

[/quote]

The unemployment number did what has been expected, only sooner.  Too early to know if 10.2 was the peak, but accepted that it wasn’t going above 10.4-10.6%.  Bernanke wasn’t the one buying cars at an 11mm annualized rate in November (that’s w/o ‘cash for clunkers’).  Falling unemployment presages rising interest rates.  That’s a given and why gold moved.  We’ll see what the rest of the world does Sunday and Monday.

  • Sat, Dec 05, 2009 - 12:42am

    #5
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

[quote=FinPro]

[quote=kenc]

I find it fascinating that the day after Bernanke testifies to congress the Employment report gets revised upward, The dollar strengthens, gold is down and all is right with the world.

I smell a rat and it smells like the PPT in overdrive

I have to go now – time to get some more gold and silver

[/quote]

 

The unemployment number did what has been expected, only sooner.  Too early to know if 10.2 was the peak, but accepted that it wasn’t going above 10.4-10.6%.  Bernanke wasn’t the one buying cars at an 11mm annualized rate in November (that’s w/o ‘cash for clunkers’).  Falling unemployment presages rising interest rates.  That’s a given and why gold moved.  We’ll see what the rest of the world does Sunday and Monday.

[/quote]

My Goodness!  You’ve either bought this governments BS Hook, Line and Sinker or you’re a mole.  I worked with these scum at the “Hill” level for years and know for a fact that what you’re implying is not the case!  Open your mind for once and look at the facts!  You’re views are so obviously “skewed” by your naive’ thought process.  Let me know where you’re living when the dollar collapses and your savings is worth “nil”.  

Ugh!

  • Sat, Dec 05, 2009 - 03:44am

    #6
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

[quote=LogansRun]

[quote=FinPro]

[quote=kenc]

I find it fascinating that the day after Bernanke testifies to congress the Employment report gets revised upward, The dollar strengthens, gold is down and all is right with the world.

I smell a rat and it smells like the PPT in overdrive

I have to go now – time to get some more gold and silver

[/quote]

 

The unemployment number did what has been expected, only sooner.  Too early to know if 10.2 was the peak, but accepted that it wasn’t going above 10.4-10.6%.  Bernanke wasn’t the one buying cars at an 11mm annualized rate in November (that’s w/o ‘cash for clunkers’).  Falling unemployment presages rising interest rates.  That’s a given and why gold moved.  We’ll see what the rest of the world does Sunday and Monday.

[/quote]

My Goodness!  You’ve either bought this governments BS Hook, Line and Sinker or you’re a mole.  I worked with these scum at the “Hill” level for years and know for a fact that what you’re implying is not the case!  Open your mind for once and look at the facts!  You’re views are so obviously “skewed” by your naive’ thought process.  Let me know where you’re living when the dollar collapses and your savings is worth “nil”.  

Ugh!

[/quote]

LogansRun,

Please forgive my naivete, although I’m highly suspicious of anything that comes out of a politicians mouth, I just  don’t see all the angles at play here. My mind is open, perhaps you could do us the courtesy of enlightening us with the insight provided by the benefit of your experience before my savings (all $3 of it) is worth nil.  ‘Cause I’m just not gettin’ it.

Thanks in advance.

  • Sat, Dec 05, 2009 - 09:41am

    #7
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

Earth,

My experience comes from being a “Lobbyist” in direct contact with most of the persons associated with this financial mess for over 12 years.  I’m still in contact with many of them (NOT the FED side/Congress/CFR mostly).  Toward the end of my tenure my eyes “opened” and I started seeing, hearing what these people were really doing/saying.  ie:  I remember sitting across from Sen. Boxer (D-Ca), Rep. Pelosi (D-Ca), Sen. Dodd (D-CT), and Rep. Wolf (R-Va) while having dinner at Olives (Downtown D.C. across from the White House/Late 2005) and discussing emissions proposals on a Federal Level.  At the time I worked for an entity representing the Big 3 automakers.  In the discussion I was arguing that the states have put in their own laws concerning the issue and that the Federal Governments involvement was not necessary.  My argument was that many states had adopted the same emissions laws that the State of California had instituted MANY years before and the trend was heading in that direction for all others.  I could go on and on about the costs that all automakers incur to make the vehicles CA certified and what it would have cost in order to be certified via the Federal Government but ….it’s a long story.  Anyway, by the end of the dinner and negotiations it came down to the “Cap and Trade” argument.  Essentially ALL 4 of them were arguing that they couldn’t “Tax” the consumer if they didn’t institute some type of Federal Law concerning emissions.  The audacity of them to want to “tax the consumer” as well as the fervor in the eyes was enough to scare the hell out of me!  I had started to get a “bad” feeling about the goings on of the D.C. gang maybe a year before.  Before this I had been an enthusiastic player in the games.  But when I started “awakening” reality really set in and with some investigation I found that I just couldn’t go along with the “game” any longer.  As I said, I do still keep up with many of the participants and have lunch with one at least every other week so I do still get alot of inside info (I was told of the economic collapse in April of 2008/told that it would happen in Sept. 2008 so I sold all equities).

Bottom line is that it’s all a game that only they can win at this point.  Finpro’s continued argument that the status quo is good, and the way the Fed and the gov’t have handled things is proper is naive IMO and comes from someone that hasn’t done his homework OR is sent to spread propaganda.

Cheers! 

  • Sat, Dec 05, 2009 - 03:19pm

    #8
    Peak Prosperity Admin

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    LogansRun, you could stand to learn a lesson from Sager!

[quote=LogansRun]

My Goodness!  You’ve either bought this governments BS Hook, Line and Sinker or you’re a mole.  I worked with these scum at the “Hill” level for years and know for a fact that what you’re implying is not the case!  Open your mind for once and look at the facts!  You’re views are so obviously “skewed” by your naive’ thought process.  Let me know where you’re living when the dollar collapses and your savings is worth “nil”.  

Ugh!

[/quote]

LogansRun,

Here are my reactions:

  1. I happen to agree 100% with the substantive part of what you are saying, and I agree with you that FinPro is probably buying into the mainstream BS and missing what’s realy going on.
  2. I am reminded of an exchange between Sager and AaronMoyer recently, where Sager reminded us that we’re a community here and that if we can’t respect one another and treat one another nicely, we’re doomed when TSHTF and we have to deal with all the crazy people who are panicking in the face of what we all saw coming for years. Aaron’s point was that while Sager may not be an economics Ph.D, he’s the kind of guy you want around when TSHTF because he’s a “let’s work together and get along” kind of personality.
  3. I’m kind of offended by the way you are treating FinPro. I’d rather give him the benefit of the doubt and assume he (or she?) is a good person who doesn’t yet see everything we see, rather than attacking him with insults and characterizing him (her?) as naieve.

Is there room to be more constructive in your posts, and enlighten rather than discredit and insult those who don’t share your grasp of the situation?

Just my two cents…

Erik

 

2) I

  • Sat, Dec 05, 2009 - 04:00pm

    #9
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

Assuming the future leaders of our world economy recognize the unsustainability of the U.S. Dollar as the world reserve currency and also move to add to their Gold holdings as a hedge against its collapse then they have a vested interest, at least in the short term, in both manipulating the dollar higher and the price of Gold lower.  Let us not act surprised when it happens but take advantage of the opportunity it presents.

  • Sat, Dec 05, 2009 - 04:52pm

    #10
    Peak Prosperity Admin

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    Re: Amazing Coincidence – Bernanke gets a grilliing and …

ErikTownsend,

Good post. Thanks for the “thumbs up”.

LogansRun,

You’ve got to slow down and explain things. You can’t just assume everyone else knows what you know.

FinPro is “wrong”, but we can prove it easier with logic than slander.

Cheers,

Aaron

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