Adrian Ash of BullionVault.com writes that “the International Monetary Fund said it has completed the gold bullion sales program begun in October 2009,” and now 403 tonnes of gold have been sold.
I bring this up all the time because the whole thing pisses me off because we gave those IMF bastards the gold to provide gold-standard legitimacy for their stupid fiat currency, the Special Drawing Right (SDR). And yet here they are selling the gold we loaned them! Gaaahhh!
Mr. Ash is apparently not particularly interested in how I have such a low opinion of the IMF and its little empires of crooks and liars, probably because, at the root, they are just more corrupt bankers, and it is always bankers who are the source of all economic problems, as they are the ones who can create money out of thin air just by making an accounting notation.
Oddly enough, early in my career, I tried this “accounting notation” approach with my boss as a way to “fix” the problem of my poor work performance and dismal results, instead of firing me on the spot, which was her original plan.
The way I explained it was that my Brilliant Mogambo Plan (BMP) was inspired by the fact that We’re Freaking Doomed (WFD) because the foul Federal Reserve is creating so much money. Thus inspired, I suggested that we likewise bring sales forward by creating them out of that selfsame thin air, we book the sales as a profit, thus showing that I am highly profitable, and not incompetent as implied in those lying Quarterly Employee Performance Evaluations.
When she asked, with this stupid look of confusion on her face, “Huh? What? How did you get into my office?” I allayed her natural suspicions by telling her that I figured that this would be offset by subsequent cancellations of those sales, along with our “paying” penalties for breaking the contracts, meaning that, in effect, we would deduct these additional phantom expenses from income to shelter real income from taxation, turning a loss into a profit, everybody’s happy, and we would both get all kinds of terrific bonuses and awards and promotions, and make a lot more money, too!
I remember leaning in towards her and whispering, “All it would take is for the accounting department to ‘play ball’ with us to somehow create money out of thin air, and it is your job to get their compliance and complicity, like Wall Street lobbyists extort compliance from Congress!”
The rest of the story is too ugly to talk about, and suffice it to say that it did not turn out well for me, the moral of which seems to be that creating things out of thin air, like money or sales, is a Very Bad Idea (VBI).
I could tell by the look of puzzlement on Mr. Ash’s face that he probably wonders what in the hell some stupid story, by some stupid guy, about some stupid tax fraud proposed a long time ago, and that probably never happened at all, has to do with gold, or the IMF, or anything that anyone cares about.
Suddenly, I realized he was right! So I sat down and shut up, and was pretty embarrassed until he said, “Some 57% of the 403-tonne total was bought directly by central banks, led by India.”
Inquisitive and suspicious, I wondered, “How much gold is that in terms of ounces?” Quickly, my Agile Mogambo Mind (AMM) set to the task of multiplying 32,150 ounces per tonne times 403 tonnes, only to realize I have no idea what I am doing, and sure to be wrong, as I have been so, so wrong so, so many times about so, so many things, including, and especially, math, ranking, as it does, second on the list of Things That Confuse The Mogambo (TTCTM), losing the top spot to, “What women want and why they just don’t shut up when I tell them to shut up about my not knowing what they want like I am some kind of stupid mind-reader or something.”
That is why I am happy to report that, thanks to some help, we know that 32,150 ounces times 403 tonnes is just under 13 million ounces, which actually ain’t much at $1,400 an ounce, amounting to a lousy $18 billion, which is so little money in an age when the word “trillion” and “trillions” appears so many times in the literature, including that magazine reader who wrote in to say that he liked the beautiful Miss February so much that he could stare at her for a trillion years and never get tired of it.
The point is not that I am rambling and apparently have forgotten to take my pills this morning, but that central banks, Junior Mogambo Rangers (JMRs) and everybody else is buying gold, gold, gold, which should indicate to you that you should, too.
And if you don’t, you will learn that life can be hard, instead of easy, and which is so easy to achieve because merely buying gold and silver is enough, making it so, so easy that you giggle as you say, “Whee! This investing stuff is easy!”
The Mogambo Guru
for The Daily Reckoning
The Last Angry Man’s Problem With IMF Gold Sales originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."
A stimulus package is a series of policies and programmes introduced by a government in order to deal with an economic crisis. When a crisis occurs (and, in a capitalist system, crises are inevitable from time to time), the problems that governments face include the loss of jobs as companies close down and the general lack of confidence. People, organizations and companies fear what is going to happen and so decide not to spend or invest in any money; when no one is spending money, therefore, more companies will go bust and unemployment increases further and the economy enters a vicious circle. The role of the government in such a situation is to stimulate the economy so as to increase employment and replace the spending that the private sector would otherwise have been making. It was one of the great breakthroughs in economic thought provided by John Maynard Keynes that governments must act in such situations and should, if necessary, borrow money to make sure that a sufficiently large stimulus package is implemented. The point is that stimulating growth now makes it much more possible to pay back the money owed later.
robert shumake detroit
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake detroit
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
Adrian Ash of BullionVault.com writes that “the International Monetary Fund said it has completed the gold bullion sales program begun in October 2009,” and now 403 tonnes of gold have been sold.
I bring this up all the time because the whole thing pisses me off because we gave those IMF bastards the gold to provide gold-standard legitimacy for their stupid fiat currency, the Special Drawing Right (SDR). And yet here they are selling the gold we loaned them! Gaaahhh!
Mr. Ash is apparently not particularly interested in how I have such a low opinion of the IMF and its little empires of crooks and liars, probably because, at the root, they are just more corrupt bankers, and it is always bankers who are the source of all economic problems, as they are the ones who can create money out of thin air just by making an accounting notation.
Oddly enough, early in my career, I tried this “accounting notation” approach with my boss as a way to “fix” the problem of my poor work performance and dismal results, instead of firing me on the spot, which was her original plan.
The way I explained it was that my Brilliant Mogambo Plan (BMP) was inspired by the fact that We’re Freaking Doomed (WFD) because the foul Federal Reserve is creating so much money. Thus inspired, I suggested that we likewise bring sales forward by creating them out of that selfsame thin air, we book the sales as a profit, thus showing that I am highly profitable, and not incompetent as implied in those lying Quarterly Employee Performance Evaluations.
When she asked, with this stupid look of confusion on her face, “Huh? What? How did you get into my office?” I allayed her natural suspicions by telling her that I figured that this would be offset by subsequent cancellations of those sales, along with our “paying” penalties for breaking the contracts, meaning that, in effect, we would deduct these additional phantom expenses from income to shelter real income from taxation, turning a loss into a profit, everybody’s happy, and we would both get all kinds of terrific bonuses and awards and promotions, and make a lot more money, too!
I remember leaning in towards her and whispering, “All it would take is for the accounting department to ‘play ball’ with us to somehow create money out of thin air, and it is your job to get their compliance and complicity, like Wall Street lobbyists extort compliance from Congress!”
The rest of the story is too ugly to talk about, and suffice it to say that it did not turn out well for me, the moral of which seems to be that creating things out of thin air, like money or sales, is a Very Bad Idea (VBI).
I could tell by the look of puzzlement on Mr. Ash’s face that he probably wonders what in the hell some stupid story, by some stupid guy, about some stupid tax fraud proposed a long time ago, and that probably never happened at all, has to do with gold, or the IMF, or anything that anyone cares about.
Suddenly, I realized he was right! So I sat down and shut up, and was pretty embarrassed until he said, “Some 57% of the 403-tonne total was bought directly by central banks, led by India.”
Inquisitive and suspicious, I wondered, “How much gold is that in terms of ounces?” Quickly, my Agile Mogambo Mind (AMM) set to the task of multiplying 32,150 ounces per tonne times 403 tonnes, only to realize I have no idea what I am doing, and sure to be wrong, as I have been so, so wrong so, so many times about so, so many things, including, and especially, math, ranking, as it does, second on the list of Things That Confuse The Mogambo (TTCTM), losing the top spot to, “What women want and why they just don’t shut up when I tell them to shut up about my not knowing what they want like I am some kind of stupid mind-reader or something.”
That is why I am happy to report that, thanks to some help, we know that 32,150 ounces times 403 tonnes is just under 13 million ounces, which actually ain’t much at $1,400 an ounce, amounting to a lousy $18 billion, which is so little money in an age when the word “trillion” and “trillions” appears so many times in the literature, including that magazine reader who wrote in to say that he liked the beautiful Miss February so much that he could stare at her for a trillion years and never get tired of it.
The point is not that I am rambling and apparently have forgotten to take my pills this morning, but that central banks, Junior Mogambo Rangers (JMRs) and everybody else is buying gold, gold, gold, which should indicate to you that you should, too.
And if you don’t, you will learn that life can be hard, instead of easy, and which is so easy to achieve because merely buying gold and silver is enough, making it so, so easy that you giggle as you say, “Whee! This investing stuff is easy!”
The Mogambo Guru
for The Daily Reckoning
The Last Angry Man’s Problem With IMF Gold Sales originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."
A stimulus package is a series of policies and programmes introduced by a government in order to deal with an economic crisis. When a crisis occurs (and, in a capitalist system, crises are inevitable from time to time), the problems that governments face include the loss of jobs as companies close down and the general lack of confidence. People, organizations and companies fear what is going to happen and so decide not to spend or invest in any money; when no one is spending money, therefore, more companies will go bust and unemployment increases further and the economy enters a vicious circle. The role of the government in such a situation is to stimulate the economy so as to increase employment and replace the spending that the private sector would otherwise have been making. It was one of the great breakthroughs in economic thought provided by John Maynard Keynes that governments must act in such situations and should, if necessary, borrow money to make sure that a sufficiently large stimulus package is implemented. The point is that stimulating growth now makes it much more possible to pay back the money owed later.
robert shumake
robert shumake
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake detroit
It used to be that competition among females was for a man. Now women are competing for the j.o.b. Female camaraderie among professional women in top positions is almost obsolete in today's corporate world. It could be partly because women have always had to prove themselves and struggle to get ahead on the job, while men were always the highest paid, quickest to be promoted, and in the top positions. But, one would think that in the new millennium when women are in top, key positions that an attitude of camaraderie would start to exist once again. When a female is threatened by another female a rivalry or battle begins, and any thing from back stabbing to lying on each other to make oneself look better begins to take place.
The truth is that most females that have arrived to the top, in key positions, seem to feel threatened by other strong, intelligent, educated females trying to get to the top. It used to be that women had an attitude of working together and helping each other to get ahead in the workplace. Somewhere down the road the attitude of partnering with each other has changed. Partners work together for a common goal. Partners don't mind assisting each other, or sharing information and inspiring each other to reach their goals. On the other hand rivals compete with each other to try to reach the goal first. No sharing or assisting. Rivals struggle against each other and make the job difficult for the next person. Rivals are vindictive and set up blocks to stop the other person. Rivals make comments to make them selves outshine the other person and even belittle the other person. And women better than men, know how to say just the right thing to hurt or break another woman's morale. Women can be ones best friend, or ones worst enemy. A threatened female in the workplace can stunt growth in more ways than a little. For example when a woman is threatened by another female she forgets the common goal in the best interest of the company. Her goal becomes to get rid of the rival. She forgets about customer service, she forgets about production, she forgets about the bottom line, making money. She forgets about strategic goals. Don't let the female manager feel threatened by an employee. She can make life a living hell for the employee and that within itself can stunt production. At some point this issue has to be faced and dealt with if professional women are going to continue to rise to the top. Where does the rivalry stop and the camaraderie begin? How can this problem be solved?
robert shumake
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake detroit
robert shumake
Adrian Ash of BullionVault.com writes that “the International Monetary Fund said it has completed the gold bullion sales program begun in October 2009,” and now 403 tonnes of gold have been sold.
I bring this up all the time because the whole thing pisses me off because we gave those IMF bastards the gold to provide gold-standard legitimacy for their stupid fiat currency, the Special Drawing Right (SDR). And yet here they are selling the gold we loaned them! Gaaahhh!
Mr. Ash is apparently not particularly interested in how I have such a low opinion of the IMF and its little empires of crooks and liars, probably because, at the root, they are just more corrupt bankers, and it is always bankers who are the source of all economic problems, as they are the ones who can create money out of thin air just by making an accounting notation.
Oddly enough, early in my career, I tried this “accounting notation” approach with my boss as a way to “fix” the problem of my poor work performance and dismal results, instead of firing me on the spot, which was her original plan.
The way I explained it was that my Brilliant Mogambo Plan (BMP) was inspired by the fact that We’re Freaking Doomed (WFD) because the foul Federal Reserve is creating so much money. Thus inspired, I suggested that we likewise bring sales forward by creating them out of that selfsame thin air, we book the sales as a profit, thus showing that I am highly profitable, and not incompetent as implied in those lying Quarterly Employee Performance Evaluations.
When she asked, with this stupid look of confusion on her face, “Huh? What? How did you get into my office?” I allayed her natural suspicions by telling her that I figured that this would be offset by subsequent cancellations of those sales, along with our “paying” penalties for breaking the contracts, meaning that, in effect, we would deduct these additional phantom expenses from income to shelter real income from taxation, turning a loss into a profit, everybody’s happy, and we would both get all kinds of terrific bonuses and awards and promotions, and make a lot more money, too!
I remember leaning in towards her and whispering, “All it would take is for the accounting department to ‘play ball’ with us to somehow create money out of thin air, and it is your job to get their compliance and complicity, like Wall Street lobbyists extort compliance from Congress!”
The rest of the story is too ugly to talk about, and suffice it to say that it did not turn out well for me, the moral of which seems to be that creating things out of thin air, like money or sales, is a Very Bad Idea (VBI).
I could tell by the look of puzzlement on Mr. Ash’s face that he probably wonders what in the hell some stupid story, by some stupid guy, about some stupid tax fraud proposed a long time ago, and that probably never happened at all, has to do with gold, or the IMF, or anything that anyone cares about.
Suddenly, I realized he was right! So I sat down and shut up, and was pretty embarrassed until he said, “Some 57% of the 403-tonne total was bought directly by central banks, led by India.”
Inquisitive and suspicious, I wondered, “How much gold is that in terms of ounces?” Quickly, my Agile Mogambo Mind (AMM) set to the task of multiplying 32,150 ounces per tonne times 403 tonnes, only to realize I have no idea what I am doing, and sure to be wrong, as I have been so, so wrong so, so many times about so, so many things, including, and especially, math, ranking, as it does, second on the list of Things That Confuse The Mogambo (TTCTM), losing the top spot to, “What women want and why they just don’t shut up when I tell them to shut up about my not knowing what they want like I am some kind of stupid mind-reader or something.”
That is why I am happy to report that, thanks to some help, we know that 32,150 ounces times 403 tonnes is just under 13 million ounces, which actually ain’t much at $1,400 an ounce, amounting to a lousy $18 billion, which is so little money in an age when the word “trillion” and “trillions” appears so many times in the literature, including that magazine reader who wrote in to say that he liked the beautiful Miss February so much that he could stare at her for a trillion years and never get tired of it.
The point is not that I am rambling and apparently have forgotten to take my pills this morning, but that central banks, Junior Mogambo Rangers (JMRs) and everybody else is buying gold, gold, gold, which should indicate to you that you should, too.
And if you don’t, you will learn that life can be hard, instead of easy, and which is so easy to achieve because merely buying gold and silver is enough, making it so, so easy that you giggle as you say, “Whee! This investing stuff is easy!”
The Mogambo Guru
for The Daily Reckoning
The Last Angry Man’s Problem With IMF Gold Sales originally appeared in the Daily Reckoning. The Daily Reckoning, offers a uniquely refreshing, perspective on the global economy, investing, gold, stocks and today's markets. Its been called "the most entertaining read of the day."
A stimulus package is a series of policies and programmes introduced by a government in order to deal with an economic crisis. When a crisis occurs (and, in a capitalist system, crises are inevitable from time to time), the problems that governments face include the loss of jobs as companies close down and the general lack of confidence. People, organizations and companies fear what is going to happen and so decide not to spend or invest in any money; when no one is spending money, therefore, more companies will go bust and unemployment increases further and the economy enters a vicious circle. The role of the government in such a situation is to stimulate the economy so as to increase employment and replace the spending that the private sector would otherwise have been making. It was one of the great breakthroughs in economic thought provided by John Maynard Keynes that governments must act in such situations and should, if necessary, borrow money to make sure that a sufficiently large stimulus package is implemented. The point is that stimulating growth now makes it much more possible to pay back the money owed later.
robert shumake
CNN's John Roberts Joining Fox <b>News</b> | John Roberts | Mediaite
CNN's John Roberts is expected to join FOX News Channel as a senior national correspondent based in Atlanta and will be reporting on major domestic and international stories for the network. Roberts came up the ranks of CBS News, ...
Social <b>News</b> Site Reddit Reports 200%+ Growth in 2010
Social news site Reddit posted year-end numbers this afternoon including January and December page view stats that climbed from 250 million pageviews to more than 3X that number, ...
Mike Max's <b>News</b> And Notes « CBS Minnesota – <b>News</b>, Sports, Weather <b>...</b>
In this week's News and Notes, a celebrity spotting at a Timberwolves game and what's ahead for the Vikes during their off season.
robert shumake
robert shumake detroit
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