Why we got off the gold standard
on 03/11/2009 at 03:40 PM
I love gold. I wish the wife would let me buy more
trouble is the pound is so weak now that $930 equates to £670 and on top of that is a ten percent premium. You will also recall that Gordon Brown the UK premier and self styled saviour of the Universe sold off hundreds of tons of UK gold when it was at an all time low. The bastard.
It’s all part of the plan Lyndon, all part of the plan.
A bankrupt nation can’t oust the existing government, can they? And still prosper? The new government such a revolution would form would have nothing to use for collateral. And all your jobs are overseas now anyway.
One of the few areas where I will give Obama and Pelosi credit for telling the truth is that they described this whole mess as a “crisis of confidence”, that the backing of money is confidence in the government’s claim that a dollar is actually worth a dollar. But:
1. Dodd, Frank et. al. spent years demolishing the value of a dollar in the home mortgage market.
2. Much of Congress, both parties, spent several years demolishing the banking system (as if the federal reserve wasn’t bad enough re: confidence).3. The last President just spent $700 billion that WE DON’T HAVE.
4. The current President spent nearly a trillion WE DON’T HAVE, and is planning to spend easily 3 times that much.
Meanwhile,
5. Dodd, Frank et. al. not only walk free but keep their positions of power. Their party, the one currently in power, denies there was ever any wrongdoing.
6. The people doing the actual destruction not only are not jailed but are awarded cabinet positions.
7. The “economic stimulus package” is loaded up with wasteful spending, while our President flatly lies and says there is “no pork” in it.
8. The first time anyone tries to call the President on his and his party’s waste, his answer is, “I won.”
9. The ‘09 budget is going through, loaded up with pork. But once again because of the President’s “crisis management” style, no one should be allowed to take the time to do anything about it.
10. The people who demanded the wreck of our home ownership and banking systems are members of “the most ethical Congress ever.” The people who executed that wreck have become members of “the most transparent and accountable Presidency ever”.
That’s hardly all, but that’s enough for right off the top of my head. The list goes on.
I guess my question in all this is for those worrying about a “crisis of confidence”: What did you expect? Did you really expect the things above to inspire CONFIDENCE?
Drew you may well be right. The British government introduced a “Civil Contingencies Act” in 2004. There was alrready an existing law on the statute books called the Emergency Powers Act 1920 but the socialist control freaks are never satisfied. They can suspend parliament in the event of an “emergency”.
Labour’s support in the polls is now below 30%. This I would say represents the core vote. Since in many towns now the majority are employed by the public sector it is likely a lot of them would vote for Labour. Many of them would vote for a dead donkey if it had a red rosette on it. Even with their core support the socialists will be hammered in the next election. There are also boundary changes which will benefit the Conservatives at the expense of Labour. There has to be a general election by May 2010
Maybe they will go gracefully but I have my doubts. They have become arrogant having been in power for a decade they feel they have a divine right to rule. You can see this in the way Brown keeps making out he is the saviour of the world. What’s the betting an “emergency” crops up next year so they can invoke emergency powers?
"20 pennies was a shilling, 1 Troy ounce. 12 shillings made a pound.”
Whoops: 12 pennies in a shilling; 20 shillings in a pound.
Also: 5 shillings in a crown (hence “half-a-crown”, i.e. 2s/6d); 2 shillings in a florin.
Only braggers use guineas (1 pound + 1 shilling)!HTH.
03/11/2009 at 07:08 PM
03/17/2009 at 07:18 AM
