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Old 04-02-2012, 07:06 AM   #1
Ground Beetle
 
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Latest MaxKaiser's report is both good and hilarious

...titled "Kamikaze banking". Title says it all - "banzai!!!" - against all the reason, chances, and the common sense.

I love the part when he compares Bernanke to an alpha-gorilla, farting in front of the Congress, and the response received: "oh, your farting sounds like we are in a great shape, thank you Mr. Chairman". I've actually choked laughing in front of my PC, causing co-workers to cast me some frightened looks.

But also great summary on how the income gains were distributed in 2010 recovery (93% of the income increase in 2010 went to the top 1% of earners - surprise, surprise!)

Another mortgage frauds, moving toxic homes into govt-secured funds (FHA?).

And (behold), how the "bailouts", always increasing debt, and eventual assets realization (or the lack of underlying assets, or their great overvaluation) will ultimately lead to rediscover the bedrock of the whole financial system, which is gold (the only question is, how long it will take, isn't it, as usual...)
He also mentions briefly the amount of gold in the possession of CBs (30,000 metric tons) , and the global total (160,000 metric tons). So if these figures are accurate, luckily, it seems that the size of the market would be too big for the CBs to manipulate gold prices succesfully (?)

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