Conspiracy theories are only theories until they become conspiracy facts. The straws are blowing in the wind as this main-stream CNBC panel discusses the reasoning behind Germany’s gold repatriation. The Bundesbank (Central Bank of Germany) recently stated they have plans to move their gold held at other central banks back to the Father Land. This includes moving 374 tonnes from France’s Banque de France & 300 tonnes from the New York Federal Reserve Bank. Could it be that, as Pimco’s Bill Gross opined, that the central banks of the west are starting to lose faith in one another?
- Tag Archives CNBC
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Attacking the Rich?
All this talk in Washington about going after the rich to pay more taxes is just a smoke screen. As Rick Santelli explains in the clip below, the arguments between the Democrats and Republicans are using numbers that ignore inflation & mislead the public on who they’re actually targeting with tax increases.
- To say that the tax increases will only affect those making $250K/year is really talking about those making $165K/year (in 1993 dollars), which is a 35% miss when it comes to being honest about the actual situation our economy is facing.
- Or worse, when they talk about only taxing the millionaires and yet begin their arguments with finding ways to tax those making $250K/year, that’s a 75% miss.
The main point is that by ignoring the inflation, these government leaders are purposely hiding their ever-increasing extortion of wealth from the middle class, not from the rich!
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Ron Paul on the ‘One-Party’ System
The illusion of choice continues to be exposed, although one wonders if the public is either too hypnotized or too apathetic to recognize what’s really happening. Jimmy Rogers had earlier inferred on CNBC that neither Obama nor Romney understood enough about economics to make appropriate comments on policy.
Ron Paul then notes that the established banking powers, i.e. the Fed, will be equally served by either the Republican or the Democrat… “they both know how to play the game and they represent a one-party system.” This system depends on the Fed to keep printing money for bail-outs and government spending. [Under such a system, isn't it obvious that the real power does not reside in the White House?] Furthermore, Paul states, “I’ve been in this business for a long time and believe me, there is essentially no difference from one administration to another, no matter what the platform.”
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Approaching the Fiscal Cliff
The US is coming up fast on the so-called Fiscal Cliff, but neither of the two political parties’ candidates are openly discussing the potential economic calamity or any remedies to overcome any resultant disaster. On this CNBC interview, Lloyd Blankfein, CEO of Goldman Sachs, Alan Simpson & Erskine Bowles of the Deficit Commission discuss the reasons why so many major corporations are holding their cash at this uncertain juncture.
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