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Sunday, October 24, 2010
Bob Chapman We See Totally Surreal Markets
Bob Chapman interview with www.contraryinvestorscafe.com. 20 Oct 2010
An excerpt from Bob Chapman's weekly publication The International Forecaster :
October 20 2010: US dollar finding a temporary bottom, gold, silver, and commodities continue to make sense, mortgage scandals, surreal markets, dollar devaluation guaranteed, record deficits, US finally tries to live within its means.
As we write, the US dollar is in the process of trying to find at least a temporary bottom at 76.50 and to launch a countertrend rally. We would think a rally back to 80 is achievable, but we do not believe it’s sustainable - only some stabilization through the election. Japan drew a line in the sand at 82 and finished last Friday trading at 81.37. That does not smack of success, but we see improvement over the next two weeks.
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Whats a US Dollar Worth? : The Fed, Money as Debt
Many ask: What is "Injecting Liquidity"? Do Deficits matter? Where is the US Dollar going with this war spending and Debt?
See more: Paul Grignon's 47-minute animated presentation of "Money as Debt"
"Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers."
- Congressman Ron Paul
""The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit... In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value... Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
---Alan Greenspan
See more: Paul Grignon's 47-minute animated presentation of "Money as Debt"
"Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers."
- Congressman Ron Paul
""The abandonment of the gold standard made it possible for the welfare statists to use the banking system as a means to an unlimited expansion of credit... In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value... Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."
---Alan Greenspan
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