Use access key #2 to skip to page content.

kdakota630 (29.56)

March 2012

Recs

14

Peter Schiff - CNBC - 03-27-12

March 31, 2012 – Comments (0)

Recs

16

How Big Would Be Treasury Dept's Very Last Debt Ceiling Request? (WOW!!!)

March 24, 2012 – Comments (4) | RELATED TICKERS: GLD , SLV

If this doesn't scare the s**t out of you - and scare you out of paper dollars and into real assets like gold and silver - then you are either brain dead or you just don't care anymore.

Tim Geithner (along with Bernanke) was testifying before the House Committee on Government Oversight and Reform yesterday.  Congressman Trey Gowdy (R-SC) - in a display of forcing Geithner to answer a question directly that Ron Paul should take notes on - asked Geithner if he had only ONE more debt increase request that could possibly be made, how big would it be.

After trying to shuffle - very awkwardly, I might add - around answering the question, Geithner responded with, "It would be a lot - it would make you uncomfortable."  Here's the exchange, which I found spine-chilling:

Geithner: “That I’d have to get to you in writing, I can’t do it in my head though.” (note: in the background someone says "he can't put that in writing.")
Gowdy: “How about a round number?”
Geithner: “No idea….
Gowdy: “$20 trillion?”
Geithner: “I just can’t do it in my head.”
Gowdy: “$50 trillion?”
Geithner: “I don’t know..."
Gowdy: “A lot? Can we agree it would be a lot?”
Geithner: “It would be a lot. It would make you uncomfortable.” 
  
Let that sink in for a moment.  Please note that Geithner did not try to dispute the $20/$50 trillion number that Congressman Gowdy threw out.  Here's the 3 minute video of the exchange, which I sourced from Ed Steer's Gold and Silver Daily:   [more]

Recs

8

Peter Schiff - Trade Rains on the Jobs Parade

March 21, 2012 – Comments (0)

Earlier this month the Labor Department reported that 227,000 new jobs were added to the economy in February, marking the third consecutive month of positive jobs growth. Many observers took the news as evidence that the recovery has taken hold in earnest, helping send the S&P 500 index to the highest level in nearly five years. However the very same day the Commerce Department reported that, after surging for much of the last year, the U.S. trade deficit increased to $52.6 billion for January, the largest monthly trade gap since October 2008. This second data set should dampen enthusiasm for the first.  [more]

Recs

10

Peter Schiff - Stress Tests No Sweat

March 15, 2012 – Comments (1)

The Federal Reserve ran another "stress test" on major financial institutions and has determined that 15 of the 19 tested are safe, even in the most extreme circumstances: an unemployment rate of 13%, a 50% decline in stock prices, and a further 21% decline in housing prices. The problem is that the most important factor that will determine these banks' long-term viability was purposefully overlooked - interest rates.  [more]

Recs

13

Peter Schiff - Why Buy the Cow?

March 07, 2012 – Comments (3)

The communist revolutions in the 20th century sought to nationalize the wealth generated by privately held industries back to the “exploited” workers on whose backs the profits were supposedly derived. America has made the rejection of this idea and its support of free market principles the centerpiece of its economic narrative. However, as a result of our current and proposed tax policies towards corporate shareholders, our government collects a portion of industrial output that would inspire envy in even the most rabid Bolshevik.  [more]

Featured Broker Partners


Advertisement