Discussions about a Platinum Coin to Cover Our Debt… How Come No One Is Reporting that it is “Impossible”

So they want Timmy Geithner to “mint” a trillion dollar platinum coin, and deposit it at the Federal Reserve, thus eliminating the “Debt Ceiling” debates facing the President in a few weeks.

Kind of bizarre, given the facts on PLATINUM:

So you want a trillion dollar platinum coin? Ok: here are some facts:

• Platinum has traditionally been the most valuable precious metal for one simple reason: it is rare.
• It is so rare, that all the platinum ever mined could fit into a 25 cubic foot box.
• The weight of that box comes out to just over 16 tons: this is how much platinum has been mined since the start of time.
• A coin valued at $1 trillion and made out of platinum would, at today’s price of $1557/ounce, weigh in at 642.3 million ounces.
• 642.3 million ounces is also roughly 18 thousand tons, or about 1100 times more than all the platinum mined.

SEE Graph @ ZeroHedge: http://www.zerohedge.com/news/2013-01-04/putting-trillion-dollars-platinum-perspective

Warning Signs Being Touted for the Global Economy

(Reuters) – The debt crisis and central bank policy responses have degraded the quality and value of debt markets and signal a “potential breaking point” in the global economy, PIMCO’s Bill Gross, manager of the world’s largest bond fund, said in his monthly letter to investors.

In his June outlook entitled “Wall Street Food Chain,” Gross said stimulus policies by the Federal Reserve and the European Central Bank have led to riskier government bonds with lower value and paved the way for higher inflation.

“Policy responses by fiscal and monetary authorities have managed to prevent substantial haircutting of the $200 trillion or so of financial assets that comprise our global monetary system, yet in the process have increased the risk and lowered the return of sovereign securities which represent its core,” Gross said.

“Both the lower quality and lower yields of previously sacrosanct debt therefore represent a potential breaking point in our now 40-year old global monetary system,” he added.

for full article: http://www.reuters.com/article/2012/05/31/us-pimco-debt-idUSBRE84U15320120531?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29&utm_content=Google+Reader

ARE YOU “PREPPING” YET?

 

Herman Cain Bio

Received the following in my email “Inbox” today:

Herman Cain;    Here’s his bio:  

   • Bachelor’s degree in Mathematics.

   • Master’s degree in Computer Science.

   • Mathematician for the Navy, where he worked on missile ballistics (making him a rocket scientist?).

   • Computer systems analyst for Coca-Cola.

   • VP of Corporate Data Systems and Services for Pillsbury (this is the top of the ladder in the computer world, being in charge of information systems for a major corporation).

 

All achieved before reaching the age of 35. Since he reached the top of the information systems world, he changed careers!

   • Business Manager. Took charge of Pillsbury’s 400 Burger King restaurants in the Philadelphia area, which were the company’s poorest performers in the country. Spent the first nine months learning the business from the ground up, cooking hamburger and yes, cleaning toilets. After three years he had turned them into the company’s best performers.

   • Godfather’s Pizza CEO. Was asked by Pillsbury to take charge of their Godfather’s Pizza chain (which was on the verge of bankruptcy). He made it profitable in 14 months.

   • In 1988 he led a buyout of the Godfather’s Pizza chain from Pillsbury. He was now the owner of a restaurant chain. Again he reached the top of the ladder of another industry.

   • He was also chairman of the National Restaurant Association during this time. This is a group that interacts with government on behalf of the restaurant industry, and it gave him political experience from the non-politician side.

 

Having reached the top of a second industry, he changed careers again!

   • Adviser to the Federal Reserve System. Herman Cain went to work for the Federal Reserve Banking System advising them on how monetary policy changes would affect American businesses.

   • Chairman of the Kansas City Federal Reserve Bank. He worked his way up to the chairmanship of a regional Federal Reserve bank. This is only one step below the chairmanship of the entire Federal Reserve System (the top banking position in the country). This position allowed him to see how monetary policy is made from the inside, and understand the political forces that impact the monetary system.

 

After reaching the top of the banking industry, he changed careers for a fourth time!

   • Writer and public speaker. He then started to write and speak on leadership. His books include   Speak as a Leader ,   CEO of Self ,   Leadership is Common Sense , and   They Think You’re Stupid .

   • Radio Host. Around 2007—after a remarkable 40 year career—he started hosting a radio show on WSB in Atlanta (the largest talk radio station in the country).

 

He did all this starting from rock bottom (his father was a chauffeur and his mother was a maid). When you add up his accomplishments in his life—including reaching the top of three unrelated industries: information systems, business management, and banking.

 

Herman Cain may have the most impressive resume of anyone that has run for the presidency in the last half century.

Rick Santelli Tries to “Educate” Ezra Klein on Failed Economic Policies

http://hotair.com/archives/2011/08/05/video-theyre-still-not-listening-to-rick-santelli/

Chief Economist States US is on the Verge of Great Depression

 

Thanks Barack… Chief Economist: “We’re On the Verge of a Great, Great Depression 

Wall Street is having a hard time figuring out what to do now that the U.S. economy appears to be sputtering and yields are so low, Peter Yastrow, market strategist for Yastrow Origer, told CNBC.

“What we’ve got right now is almost near panic going on with money managers and people who are responsible for money,” he said. “They can not find a yield and you just don’t want to be putting your money into commodities or things that are punts that might work out or they might not depending on what happens with the economy.

“We need to find real yield and real returns on these assets. You see bad data, you see Treasurys rally, you see all bonds and all fixed-income rally and then the people who are betting against the U.S. economy start getting bearish on stocks. That’s a huge mistake.”

Stocks extended losses after the manufacturing fell below expectations in May and the private sector added only 38,000 jobs during the month.

“Interest rates are amazingly low and that, thanks to Ben Bernanke, is driving everything,” Yastrow said. “We’re on the verge of a great, great depression. The [Federal Reserve] knows it.

http://gatewaypundit.rightnetwork.com/2011/06/thanks-barack-chief-economist-were-on-the-verge-of-a-great-great-depression/

 

 

Breaking the Debt Ceiling

“Now bear with us for a second: the most recently disclosed total debt was 14,211,567,662,931.23 as of March 28. This excludes the settlement of all of this week’s auctions which amount to $35 + $35 + $29 billion (including today) or $99 billion. Adding the two amounts to $14,310,567,662,931.23. As a reminder the debt ceiling is $14,294,000,000,000.00. In other words, the total US debt just passed the debt limit – break out the Champagne! Granted there is a buffer of $52.2 billion between the total debt and the debt actually subject to the ceiling, meaning that America is not in default, yet.”

 

http://www.zerohedge.com/article/treasury-sells-29-billion-bonds-bringing-total-settled-us-debt-14311-trillion-more-debt-ceil

Unemployment Drops Below 9%: Dems Tout “Spending” Finally Working

The labor market showed signs of strong growth in February, as the nation added 192,000 jobs and the unemployment rate dipped below 9 percent for the first time since April 2009.

The unemployment rate dropped to 8.9 percent in February from 9.1 percent in January, and is down from 9.8 percent as recently as November 2010.

******What they aren’t saying is :

Much of the drop comes from people who have left the workforce and given up pursuit of a job, but there is also increasing confidence that the economy is turning around. 

For full article: http://thehill.com/blogs/on-the-money/801-economy/147465-jobless-rate-drops-to-89-percent-economy-adds-192000-jobs

Rand Paul’s Speech @ CPAC: Words of Reality

In 2008, more than half of the American voters became spellbound by the “charisma” of Sen. Barack Obama, and his message of “Hope and Change”. In the two years since his inauguration, we have seen, though many are still in denial about, that his “words” do not match his “actions”.

When Sen. Rand Paul (R-Ky) addressed CPAC on February 11th, his words were those of REALITY, and he is putting his integrity behind them to force them into action.

The Fed Forces Small Town Bank to Remove Christmas Symbols and “Verse of the Day”

UPDATE: Sen. Inhoufe and Rep. Frank Lucas, both representing Oklahoma, sent a pointed letter to Fed Chairman Ben Bernanke asking if he stood by the Federal examiners actions. Later in the day, the examiners personally returned to the bank in Perkins, OK to retract their request for the removal of all Christmas and religious items.

The government warned a small town bank this week to remove the Christian symbols from its counters and off its website.

KOCO reported:

A small-town bank in Oklahoma said the Federal Reserve won’t let it keep religious signs and symbols on display.

Federal Reserve examiners come every four years to make sure banks are complying with a long list of regulations. The examiners came to Perkins last week. And the team from Kansas City deemed a Bible verse of the day, crosses on the teller’s counter and buttons that say “Merry Christmas, God With Us.” were inappropriate. The Bible verse of the day on the bank’s Internet site also had to be taken down.

“I don’t think there should be a problem with them displaying whatever religious symbols they want to display,” said Amy Weierman, a Perkins resident.

Specifically, the feds believed, the symbols violated the discouragement clause of Regulation B of the bank regulations. According to the clause, “…the use of words, symbols, models and other forms of communication … express, imply or suggest a discriminatory preference or policy of exclusion.”

http://gatewaypundit.rightnetwork.com/2010/12/it-begins-feds-demans-small-town-bank-remove-christian-symbols-christmas-decorations-from-counters-website/

Note: The home office of the bank we deal with ordered that no Christmas trees or Menorahs be displayed in the branches….. only poinsettas. The cite the need to “not offend anyone else.

My response… I told them that THEIR ACTIONS OFFEND ME !!

Preparing for HyperInflation: Don’t Think It Can’t Happen Here: We’re on a “Meltup”