Revelation 18 (King James Version)
King James Version (KJV)
18 And after these things I saw another angel come down from heaven, having great power; and the earth was lightened with his glory.
2 And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen, and is become the habitation of devils, and the hold of every foul spirit, and a cage of every unclean and hateful bird.
3 For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies.
4 And I heard another voice from heaven, saying, Come out of her, my people, that ye be not partakers of her sins, and that ye receive not of her plagues.
5 For her sins have reached unto heaven, and God hath remembered her iniquities.
6 Reward her even as she rewarded you, and double unto her double according to her works: in the cup which she hath filled fill to her double.
7 How much she hath glorified herself, and lived deliciously, so much torment and sorrow give her: for she saith in her heart, I sit a queen, and am no widow, and shall see no sorrow.
8 Therefore shall her plagues come in one day, death, and mourning, and famine; and she shall be utterly burned with fire: for strong is the Lord God who judgeth her.
9 And the kings of the earth, who have committed fornication and lived deliciously with her, shall bewail her, and lament for her, when they shall see the smoke of her burning,
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
11 And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:
12 The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble,
13 And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.
14 And the fruits that thy soul lusted after are departed from thee, and all things which were dainty and goodly are departed from thee, and thou shalt find them no more at all.
15 The merchants of these things, which were made rich by her, shall stand afar off for the fear of her torment, weeping and wailing,
16 And saying, Alas, alas that great city, that was clothed in fine linen, and purple, and scarlet, and decked with gold, and precious stones, and pearls!
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
18 And cried when they saw the smoke of her burning, saying, What city is like unto this great city!
Is someone expecting a crisis soon, and happens to have some extra fiat cash lying around to get rid of?
This may be a simple instance of political corruption. The mayor will look at each company’s contributions to his political opposition (the NRA) and determine whether the company will get a city purchase order. It is an attack on the NRA performed by threatening the NRA’s supporters.
Hey, if you eat at Bob’s restaurant, I might not be buying my next car from you. Maybe you should reconsider where you eat...whadya think?
Unvarnished, old-fashioned corruption.
Joe W. has been banging this drum for years - and has been wrong for years. The day we have real positive interest rates is the day the US goes broke or devalues the currency. Interest rates cannot be allowed to rise since the debt is unpayable. As long as we have negative real rates, gold will be strong.
The conditions that have steadily debased the dollar vs. gold over the past 12 years are not better than they have been; they are worsening and aggregate, excess debt is increasing. The world's debt to hard collateral ratio is astounding and is worsening. I'll keep holding my bullion, thank you.
IMO an amalgam of brass, copper & lead represents the best prospect in the metals futures market.
Some junk silver in the safe helps, too.
Perhaps the “PTB” will manipulate the “paper” price of gold and silver down to the point we won’t be able to find any “physical”
Peter Schiff breaks it down for you:
Very, very liberal business publication. They’re an anomaly.
They've done it before.
Even for Joe Weisenthal, this is pretty weak cheese. Well, let’s just get to ‘em, one by one:
1) Current rates are purely the result of the Fed buying every debt instrument in sight with printed money, nonstop.
2) Gold is above its long term average, so what? A bag of chips has surged to new all time highs and is currently above its long term average too; should I expect it to be cut back to its 1968 price?
3) Official CPI has been fraudulent for forty years, and increasing in the level of fraud with every adjustment. Draw that again with real inflation numbers and we can talk. (Does anybody know what the numbers on the Y-axis here mean?)
4) Gold is overvalued because the biggest housing bubble in the history of the world busted?
5) Any talk of “the Eurozone” being “saved” in the near or far future is simply foolishness. They have only one solution for their debt problems: pay off that debt with more debt-backed debt.
6) Now all of a sudden, something out of trend is supposed to continue to go out of trend, instead of reverting to “historical average”. That same graph shows that two years ago, the price moved 3 standard deviations in less than a year, twice.
7) Cherry-picking graph points. The full graph from 2010 on says nothing more than that we’re bouncing around at zero. (NB that each bounce is weaker than the one before.)
8) Again, from 2010 on, it’s just a graph of random movement.
10) Housing prices are going up again? Again, so what? BTW, shouldn’t this be indexed to CPI, excuse me, to real CPI?
11) It doesn’t follow that an increase in households implies an increase in housing. I need to see this broken down as home ownership vs rentals.
12) More cherry-picking. The decades-old adage of a silver quarter buying a gallon of gas and an ounce of gold buying you one hell of a suit still holds.
Over time, there is a 90% correlation between Federal reserve credit expansion (buying feral debt/printing money). The Fed Head has committed to open-ended credit expansion until the unemployment rate become acceptable. To assert that the dollar price of gold will fall in a period where the Federal Reserve is funding about half of federal spending by printing money and notating it with a journal entry defies logic.
Moreover, when about 25% of grocery spending is funded by social programs and when 50% of citizens receive some kind of government payment and the federal government is borrowing more than 50% of the money it spends, how much of the sales and profit of consumer goods companies like P & G is funded by money-printing?
What percent of the SP500 index is made up of companies whose customers are people who receive government benefits, or direct business from government? What percent of the SP500 index is funded by air-backed FedBucks? And so what fraction of the DJI is inflated by air backed FedBucks and when the Fed gets exhausted, how much will the SP500 and the DJI drop?
Call me cynical in my advancing years, but wouldn’t a concerted effort to drive down the price of gold make it easier for Obama and the Fed to accrue and pay for the 300 Tons of it that they owe Germany?
Whatever happens to gold will not be revealed by the “analysis” of trillion $ coin Joe Weisenthal and the other giddy MMT girls of Business Insider.
Ah, here’s something that we should know about. See the drought forecast through April 30.
Sometime in the near future, global agricultural interests will be unable to keep meat prices down by taking revenues from other businesses/debt, IMO. It will be difficult to tell, though, as to when to buy livestock. I’m holding off on getting yaks for at least another year (high altitude and cold here for year-round cattle that consume more hay). Hay’s very difficult to find and afford in the West.
Oh, so our national debt is under control then? No? Didn’t think so. Gold prices have plenty of room to grow just as fast as that debt has been. The Market Makers send out these pinheads to spread propaganda and then buy or sell depending on what they need. Happens all the time, and anyone that is serious in the financial world only listens to them to know which way they are trying to manipulate the markets.