Date: Fri Jun 24 2005 16:19
trotsky (fustrated@CoTs) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
i note two potential positives: 1. the small traders haven't yet become overly enthusiastic and 2. the commercial hedgers continue to maintain very large net long positions in Euro, Swiss Franc and the Yen.
still, the danger zone approacheth... ( btw. the bulk of the positioning change appears to have happened in a single large trade on Tuesday if i can believe my charts...iow, a single big player stepped in. possibly a 'strong hand'? we'll see. )
Date: Fri Jun 24 2005 15:32
trotsky (Aurum@New York Times) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
i agree. George Reisman has recently written a critique exposing the fallacies in one of the NYT's articles on taxation ( which apparently was bursting at the seams with long discredited leftist claptrap ) :
mises.org
Date: Fri Jun 24 2005 15:22
trotsky (steve bell) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
another masterful illustration of the US effort in Iraq:
guardian.co.uk
Date: Fri Jun 24 2005 15:15
trotsky (James) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
yes, Liu's intelligent...i know him from way back when he was posting at the old Longwaves forum. and i'm not saying he makes no valid points at all. but that makes him all the more dangerous, as is evidenced by the many intelligent people drawn in by his arguments. ultimately it's all a very cleverly designed edifice that targets the free market and by extension liberty...and that can not possibly be countenanced or defended imo.
of course you're free to wish for the Soviet paradise Liu us envisaging for us all , but i will forever remain opposed.
Date: Fri Jun 24 2005 15:06
trotsky (mozel) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"Explain that connection using the wage paid to supremem court justices as your test case."
LOL! they not productive enough? why, they just produced proof that shattered the last illusions Americans may have had regarding security of property and all the unimportant little things that flow from it...what more do you want?
Date: Fri Jun 24 2005 14:42
trotsky (JD@Liu) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
he's doing just fine when he denounces imperialism, but i detest his attacks on the free market. of course we don't really HAVE a free market anyway, but at least we don't have a completely centrally planned economy of the sort Liu is pining for.
Date: Fri Jun 24 2005 13:56
trotsky (RIP) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
"wage parity"? i think it would make more sense to talk about 'unit labor cost parity'. after all there is a connection between wages and productivity.
Date: Fri Jun 24 2005 12:09
trotsky (JD@Liu) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
'oppose it all you like'
i certainly will. imo Marxism is truly evil, and Liu clearly is a Marxist.
Date: Fri Jun 24 2005 11:53
trotsky (verily...) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
there's little reason to complain. the gold stocks are holding up quite well in the face of a weaker PoG and a weak broader stock market. it looks more like a sign of inherent strength than anything else.
Date: Fri Jun 24 2005 11:44
trotsky (Cogold) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
yes, everybody should be taken aback by this sentence at the end of the article:
"Anthony Pettigrew, a spokesman for the DEA in Boston, said he could not comment on the lawsuit. But he said federal asset forfeiture laws allow agents to seize suspected drug profits."
in other words, you already live in a police state. any amount of cash found on your person can be declared a 'suspected drug profit' at the discretion of a DEA agent, and i imagine getting it back isn't easy. 'home of the free'? not anymore.
Date: Fri Jun 24 2005 11:36
trotsky (@gold contract) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
now this looks a bit like an attempt at reigning it in before it comes too close to the by now famous Aug. 445 strike. there's a lot of money riding on that strike not being violated. otoh, the funds may well be gunning for this strike, for the very same reason. would be nice to see them win this particular battle...
Date: Fri Jun 24 2005 10:30
trotsky (JD@Liu) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
you posted this excerpt:
"A severe and prolonged depression could trigger the end of the market economy, when intelligent human beings are finally faced with the realization that the business cycle inherent in the market economy cannot be regulated sufficiently to prevent its innate destructiveness to human welfare and are forced to seek new economic arrangements for human development. The principle of diminishing returns will lead people to reject the market economy, however sophisticatedly regulated. "
this is what the avowed Marxist Liu WISHES for. however, the business cycle is not 'inherent in the market economy', it is a result of central bank intervention. unfortunately it is all too likely that the market economy will be blamed when the downturn comes, and that Liu and his Marxist cohorts will see their dreams fulfilled. we have historical examples proving this beyond doubt. both Hitler and FDR came to power after a major credit expansion by the central banks foundered and led to the Great Depression, and what these two gentlemen had in common was their penchant for socialism. Hitler introduced it in the form of fascistic state capitalism while FDR went for Keynesian intervention on a grand scale, in the process destroying the last vestiges of the American Republic and lengthening and deepening the depression. ultimately the efforts of these central planners led to war, after they had, of course, 'sophisticatedly regulated' the market economy.
i'm astonished, or perhaps i shouldn't be, that Liu thinks his readers stupid enough to buy into the assertion that the market economy harbors an "innate destructiveness to human welfare", when it is the free market that has made human welfare POSSIBLE ( without it, we'd still be living in caves ) ; so it can not be "sufficiently regulated" to "prevent its innate destructiveness"?? what utter drivel. the more regulation, the less free the market economy is, and the less able it is to provide its essential function of advancing civilization and human welfare.
i urge everybody to look at Liu's screeds with the critical distance and skepticism they deserve - they are nothing but communist propaganda. he's a demagogue of the worst sort...people like him have brought the evil slave system of communism that has oppressed millions of innocent human beings for decades, all under the guise of wanting to 'improve human welfare' and falsely labeling the system of free enterprise an exercise in exploitation. of course when their wishes are fulfilled, they themselves will live in luxury and want for nothing, while millions will chafe under their tyrannical rule. Liu must be opposed vigorously at every turn.
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