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Somali proverb on the heirarchy of loyalty

 

Me and my clan against the world, Me and my family against my clan, Me and my brother against my family, Me against my brother.

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“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. If there were, the government would have to

make its holding illegal, as was done in the case of gold.” Alan Greenspan, “Gold and

Economic Freedom”, 1966.

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It is important to remember that government interference always means either violent action or the threat of such action. The funds that a government spends for whatever purposes are levied by taxation. And taxes are paid because the taxpayers are afraid of offering resistance to the tax gatherers. They know that any disobedience or resistance is hopeless. As long as this is the state of affairs, the government is able to collect the money that it wants to spend. Government is in the last resort the employment of armed men, of policemen, gendarmes, soldiers, prison guards, and hangmen. The essential feature of government is the enforcement of its decrees by beating, killing, and imprisoning. Those who are asking for more government interference are asking ultimately for more compulsion and less freedom.

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All charming people have something to conceal, usually their total dependence on the appreciation of others.

- Cyril Connolly

 

If I could drop dead right now, I'd be the happiest man alive.

- Samuel Goldwyn

 

Clothes make the man. Naked people have little or no influence on society.

Mark Twain

 

Courage is resistance to fear, mastery of fear - not absence of fear.

Mark Twain

 

http://www.quotationspage.com/qotd.html

 

I have quotes of the day come up on my personalised igoogle page - if you havent tried igoogle you should, its really quite good

 

www.google.com/ig

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A little experiment

 

It is not advisable, James, to venture unsolicited opinions. You should spare yourself the embarrassing discovery of their exact value to your listener.

Ayn Rand, Atlas Shrugged, 1957

 

The spread of evil is the symptom of a vacuum. whenever evil wins, it is only by default: by the moral failure of those who evade the fact that there can be no compromise on basic principles.

Ayn Rand, Capitalism: The Unknown Ideal, 1966

 

Until and unless you discover that money is the root of all good, you ask for your own destruction. When money ceases to become the means by which men deal with one another, then men become the tools of other men. Blood, whips and guns--or dollars. Take your choice--there is no other.

Ayn Rand, Atlas Shrugged

 

 

Ayn Rand had a little influence upon Greenspan apparently, when he was younger - this might explain his addiction to free market fundamentalism

 

Alan Greenspan quotes follow - all full of irony given the present situation

 

http://thinkexist.com/quotes/alan_greenspan/

or

http://www.alangreenspan.org/more.html

 

“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said”

 

 

Protectionism will do little to create jobs and if foreigners retaliate, we will surely lose jobs.”

 

 

“I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.”

 

The Fact that our economical models at The Fed, the best in the world, have been wrong for fourteen straight quarters, does not mean they will not be right in the fifteenth quarter”

 

“I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more”

 

“An almost hysterical antagonism toward the gold standard is one issue which unites statists of all persuasions. They seem to sense... that gold and economic freedom are inseparable.”

 

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.”

 

“The more flexible an economy, the greater its ability to self-correct in response to inevitable, often unanticipated, disturbances and thus to contain the size and consequences of cyclical imbalances.”

 

“History has not dealt kindly with the aftermath of protracted periods of low risk premiums.”

 

If we delay, the adjustments could be abrupt and painful

 

There are no easy choices. Easy choices are long gone,

 

edit - he did get something partially right

 

Federal Reserve Chairman Alan Greenspan cautioned yesterday that certain types of increasingly popular, risky home mortgages could be "disastrous" for some borrowers betting on ever-rising house prices.

 

"There's potential for individual disaster there," Greenspan told the House Financial Services Committee. It was his strongest warning yet about the potential pitfalls for consumers and lenders in the nation's red-hot housing market.

 

Greenspan also warned lenders to "fully appreciate the risk that some households may have trouble meeting monthly payments as interest rates and the macroeconomic climate change."

 

Greenspan discussed the housing market while delivering an upbeat assessment of the

http://www.highbeam.com/doc/1P2-49788.html

 

shame he didnt follow it through

 

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All universal moral principles are idle fancies.

- Marquis de Sade

 

The truth is rarely pure and never simple.

- Oscar Wilde

 

Just because some famous bloke said it, doesn't mean *@#&.

- Me

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The UK must combine its recent success with a dash of humility.

- Baron Mandelson of Foy in the county of Herefordshire and Hartlepool in the county of Durham.

 

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Life is like a $hit sandwich....

 

The more bread you have the less $hit you have to eat.

 

FK

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Keeping our word is one of the things that make us better than you.

 

Are your men on the right pills?

 

We're going to empty your memory as we might empty your pockets... Doctor.

 

Some great quotes from a great film

 

 

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”Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if they have any, in manufacturing, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits. Profits which are the price of no useful industry of theirs.” (1813). President Thomas Jefferson.

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We've seen house prices rise by about 180 per cent over the last 10 years and they have risen by about 18 per cent over the last three years, so a 2.5 per cent fall is something that is containable.

 

our great leader trying to play down the Halifax figures 02/04/08.

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GOLD QUOTES

 

http://www.goldassets.co.uk/research/quotations.php

 

In effect, there is nothing inherently wrong with fiat money, provided we get perfect authority and god-like intelligence for kings.

Aristotle, Greek philosopher and genius (384-322BC)

 

Gold is the sovereign of all sovereigns.

Democritus, Greek philosopher (460-341BC)

 

Gold can make its way through the midst of guards, and break through the strongest barriers more easily than the lightning's bolt.

Horace, Roman poet (65-8BC)

 

When gold speaks, all tongues are silent

Italian Proverb

 

All that glitters is not gold . . . . gold that's put to use, more gold begets.

William Shakespeare, English dramatist & poet (1564-1616)

 

Paper money eventually returns to its intrinsic value: zero.

Voltaire, French poet, historian & philosopher (1694 - 1778)

 

Gold is a living God.

Percy Bysshe Shelley, English poet (1792-1822)

 

As good as gold.

Charles Dickens, English writer & social commentator (1812-1870)

 

Although gold and silver are not by nature money, money is by nature gold and silver.

Karl Marx, German philosopher & social theorist (1818-1883)

 

We are in danger of being overwhelmed with irredeemable paper, mere paper, representing not gold nor silver; no sir, representing nothing but broken promises, bad faith, bankrupt corporations, cheated creditors and a ruined people...

Daniel Webster, statesman & orator, speech in the Senate, 1833 (1782-1852)

 

You have to choose [as a voter] between trusting to the natural stability of gold or the natural stability and intelligence of the government. And with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold

George Bernard Shaw, Irish dramatist, theorist & philosopher (1856-1950)

 

Gold is money, and nothing else.

Testifying before the Pujo Commission, 1913. J.P. Morgan, industrialist, financier & banker (1837- 1913)

 

Gold is not necessary. I have no interest in gold. We will build a solid state, without an ounce of gold behind it. Anyone who sells above the set prices, let him be marched off to a concentration camp. That's the bastion of money.

Adolf Hitler, fascist & dictator (1889-1945)

* Hitler had a contempt for gold and wrongly believed that the authority and military might of a state could confer legitimacy on it's currency.

 

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Ernest Hemingway, writer, journalist and lover of life (1899-1961)

 

There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence

Charles de Gaulle, President of France (1890-1970)

 

The great merit of gold is precisely that it is scarce; that its quantity is limited by nature; that it is costly to discover, to mine, and to process; and that it cannot be created by political fiat or caprice.

Henry Hazlitt, libertarian philosopher & economist of Austrian school (1894- 1993)

 

For more than two thousand years gold's natural qualities made it man's universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper. No other commodity enjoys as much universal acceptability and marketability as gold.

Hans F. Sennholz, author & economist of Austrian school (1922-2007)

 

If you don't trust gold, do you trust the logic of taking a beautiful pine tree, worth about $4,000 - $5,000, cutting it up, turning it into pulp and then paper, putting some ink on it and then calling it one billion dollars?

Kenneth J. Gerbino, investment manager & gold bug

 

There are about three hundred economists in the world who are against gold, and they think that gold is a barbarous relic - and they might be right. Unfortunately, there are some three billion inhabitants of the world who believe in gold.

Janos Fekete, Czech economist of the Austrian school

 

Meanwhile, the world economy continues to sail along precariously with its unstable monetary non-system. There can be as many G7 or G8 meetings as one can imagine , but nobody has the slightest idea how the monetary system can be restored. Sadly, the knowledge of what an appropriate currency system ought to be has nearly been lost. There are only a precious few people left who know that only an honest monetary system with people freely choosing what they prefer as the medium of exchange - for which there are compelling reasons pointing to gold - can remedy the present disastrous currency muddle. The knowledge of those few who have taken the time and effort to study the history of money and man will be needed one day. When the time has come, it will serve to end the suffering of mankind and to relaunch the world economy by putting the world financial system back on a safe, golden track.

Ferdinand Lips, Gold theorist, monetary historian and author of 'Gold Wars', a study of gold, golds history and gold and the global monetary systems future.

 

When the international monetary system was linked to gold, the latter managed the interdependence of the currency system, established an anchor for fixed exchange rates and stabilized inflation. When the gold standard broke down, these valuable functions were no longer performed and the world moved into a regime of permanent inflation. What will be the character of the international monetary system in the next century and how will gold intersect with it? This subject may strike modern audiences as a strange topic, but back in the 1960s, when people were deliberating about the future of the international monetary system, gold figured importantly in the discussions. Even today, the importance of gold in the international monetary system is reflected in the fact that it is today the only commodity held as reserve by the monetary authorities, and it constitutes the largest component after dollars in the total reserves of the international monetary system.

Robert A. Mundell, Nobel Laureate for Economics, 1999

 

The prospect of gold breaking the six-year highs hit in February increased this week when so-called 'open interest' in US gold futures on Comex in New York reached a record high, after a large surge in trading on Wednesday. Andy Smith, analyst at Mitsui Global Precious Metals, said the increase in open interest, which is more than 26 million ounces or more than 40 percent of last year's world gold production, suggested that there was perhaps new buying by investors who do not traditionally venture into the precious metals market. The purchases were worth about $6.9 billion, relatively small by equity or bond market values, but very large for gold.

Financial Times, 28/08/03

 

We are watching an historic event, the flight from paper into tangible assets. Stocks are bust, bonds are bust, the leading currency is bust, property is about to go bust. Investors are going to look for capital protection, they are sick of all the hot shot advice to make money out of stocks. Capital protection remains the global objective as I see it. This is not protection from the eroding effect of inflation but from total loss of capital in unstable markets. History is very close at hand as the gold price in Swiss Francs is has broken upside and that is my indicator of a massive change in global investment attitudes. But also note that gold is outperforming EVERY major currency.

Clive Roffey, 31/08/03

 

Blink and you might have missed it. Deflation, we were told by US Federal Reserve chairman Alan Greenspan, was "unwelcome" and was hanging over the markets like a weapon of mass destruction. He sent a great column of forces against it, cutting interest rates and threatening to intervene in the bond market. As the battle raged, the dollar dropped too. Yesterday, the gold market declared victory and said deflation - or continuously falling prices - had been routed, before it even left its barracks.

London Telegraph, 29/08/03

 

Moreover, it is the US economy that lies at the heart of the trouble, with the dollar (the safe- haven asset of the last century) likely to be a casualty on the path back to economic wellbeing. This bodes well for gold.

Metal Most Attractive, The London Spectator 12/06/03

 

Governments lie; bankers lie; even auditors sometimes lie: gold tells the truth.

Lord Rees Mogg, economist & former editor of The Times & assistant editor of The Sunday Times

 

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, that allows us to print as many dollars as it wishes at essentially no cost

Ben Bernanke, Federal Reserve Chairman

 

Governments lie; bankers lie; even auditors sometimes lie: gold tells the truth.

Lord Rees Mogg, economist & former editor of The Times & assistant editor of The Sunday Times

 

. . . gold and economic freedom are inseparable . . . Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of that insidious process.

Alan Greenspan's famous essay - 'Gold & Economic Freedom'

 

Gold still represents the ultimate form of payment in the world. . . . Fiat money, in extremis, is accepted by nobody. Gold is always accepted.

In a speech, 1999, Alan Greenspan, former US Federal Reserve Chairman

 

The study of history, while it does not endow with prophecy, may indicate lines of probability.

John Steinbeck, Writer and social commentator, (1902-1968)

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No business wants to invest in a place where the government skims 20% off the top, or the head of the Port Authority is corrupt. No person wants to live in a society where the rule of law gives way to the rule of brutality and bribery. That is not democracy, that is tyranny, even if occasionally you sprinkle an election in there ... and now is the time for that style of governance to end

 

- Barack Obama on AmeAfrica

 

No country is going to create wealth if its leaders exploit the economy to enrich themselves, or if police can be bought off by drug traffickers

 

- Same speech

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“Subsidies . . . prolong the life of inefficient firms at the expense of efficient ones, distort the productive system, and hamper the mobility of factors [of production] from less to more value-productive locations. They injure the market greatly and prevent the full satisfaction of consumer wants. . . . The greater the extent of government subsidy in the economy, therefore, the more the market is prevented from working, and the more inefficient will the market be in catering to consumer wants. Hence, the greater the government subsidy, the lower will be the standard of living of everyone, of all the consumers.”

 

–Murray Rothbard, Man, Economy and State and Power and Market (Mises Institute), 2nd ed., p. 1255

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“I will love the light for it shows me the way, yet I will endure the darkness because it shows me the stars.”

 

“Live this day as if it will be your last. Remember that you will only find ''tomorrow'' on the calendars of fools. Forget yesterday's defeats and ignore the problems of tomorrow. This is it. Doomsday. All you have. Make it the best day of your year. The saddest words you can ever utter are, ''If I had my life to live over again. ''Take the baton, now. Run with it! This is your day! Beginning today, treat everyone you meet, friend or foe, loved one or stranger, as if they were going to be dead at midnight. Extend to each person, no matter how trivial the contact, all the care and kindness and understanding and love that you can muster, and do it with no thought of any reward. Your life will never be the same again.”

 

Og Mandino

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For those like me that worry too much.

 

"My life has been full of terrible misfortunes -- most of which have never happened." ~ Michel de Montaigne

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Ayn Rand had a little influence upon Greenspan apparently, when he was younger - this might explain his addiction to free market fundamentalism

 

Alan Greenspan quotes follow - all full of irony given the present situation

 

http://thinkexist.com/quotes/alan_greenspan/

or

http://www.alangreenspan.org/more.html

 

“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said”

 

"Greenspan became an applause-meter... listening only to Wall Street" - Bill Fleckenstein

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President Andrew Jackson

 

QUOTE

"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out."

 

 

Boy history sure does rhyme

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