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chopjob wrote:He looks like the guy from the Pi movie.

So there's that.

^one of my favorite movies.

In celebration of Paul's victory another record day for real money, I thought I'd share this great Bernanke quote I just came across...

Ben Bernanke, November 21, 2002 wrote:Today an ounce of gold sells for $300, more or less. Now suppose that a modern alchemist solves his subject's oldest problem by finding a way to produce unlimited amounts of new gold at essentially no cost. Moreover, his invention is widely publicized and scientifically verified, and he announces his intention to begin massive production of gold within days. What would happen to the price of gold?
Presumably, the potentially unlimited supply of cheap gold would cause the market price of gold to plummet. Indeed, if the market for gold is to any degree efficient, the price of gold would collapse immediately after the announcement of the invention, before the alchemist had produced and marketed a single ounce of yellow metal.

What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services.


http://www.federalreserve.gov/boardDocs ... efault.htm

Yeah, Oil was up to $104 earlier, when Russia starts selling oil in rubles, with Iranian support and other countries switch to the Euro, the petro-dollar will totally collapse. I'm thinking sometime around the Summer is when it could really heat up, all the world's eyes will be on China and this could represent a symbolic shift in world power. A big unanswered question is what are they going to do with a trillion of these:



There is also some interesting stuff happening in the PM markets right now.
Silver is already over $21 in overnight trading and we may even see $1000 gold today which would be a big wake up call. There's also speculation that some large commercial shorts are squirming and we may be heading for a short squeeze on silver sooner rather than later. Not only have they been selling silver they don't have, but it may not even exist. I'd be panicking too...

There's a decent (albeit short) article about the impact of Paul's campaign on msnbc.com

http://www.msnbc.msn.com/id/23485858/

The title's a bit frustrating, but contains a good quote from a Paul supporter:

"Conditions in this country will have to improve before the American people accept an intellectual campaign similar to Paul's, versus the personality cult of Obama.”

Intellectual?

Haw haw haw.

edit: nevermind. Just....nevermind.

If you want the intellectual campaigns spearheaded by such brilliant folks as Chris Matthews, Keith Olbermann, and Oprah Winfrey, then I won't stop you. I won't be anywhere near you.

Good man.

Give it a rest.

I think I might.

unarmedman wrote:edit: nevermind. Just....nevermind.

If you want the intellectual campaigns spearheaded by such brilliant folks as Chris Matthews, Keith Olbermann, and Oprah Winfrey, then I won't stop you. I won't be anywhere near you.

An intellectual campaign indeed.



If your idea of intellectual is 1000s of Aspie Paulbots spamming every forum, youtube video, and blog posting with their incessant whining anytime someone dares to hold the slightest notion that Ron Paul can't heal lepers with his touch. Go read a fucking Ayn Rand book if you're just gonna get all butthurt when someone attacks the Almighty.


Intellectual Positions:

George Bush- Support the war on terror or you hate freedom.

Paultard- Support everything our lord and savior Ron Paul hath decreed from on high or you hate freedom.

I have spoken, you have listened.