Friday, July 13, 2012

Debt, Gold and Miami!

I note today that the Debt Widget above shows us that we are about to clock over $130,000 per TAXPAYER by the time many of you read this.  Soon after I started my blog in May, 2011, I took note that the widget turned over $119,000.  So in the 14 or so months since I noted the widget reaching $119,000 that debt per taxpayer has grown $11,000 more...

So how many here are ready, willing and able to cough up $11,000 MORE to pay "our fair share"?  Not me and not most of you.

I once again note that the above widget throws off a slightly different number than other sources.  But, so what?  In a sense, it is all imaginary...  The debt will NEVER be paid off, how can it be?  It will not be paid off.  It will continue to grow, and at some point it will be defaulted on, by inflation or outright default.

And if Treasury rates go up, the interest burden upon us will just get that much worse.  Yet 10-year Treasuries hover around 1.50%...  Weird.., hey, you tell me!


Gold is moving up today, creeping up to nearly $1600.

I think that physical gold at $1600 is still way underpriced, I ate my own dogfood just yesterday by buying a little more.  When will I sell it?  Never.  It will be given away.

I read here and there that China continues to import lots of gold.  China is already the Number One producer of gold, yet they import more.  China now has about 1040 tonnes (official gold holdings, I printed out the chart from a Zero Hedge article yesterday), but many think they have more that they quietly buy...

Apparently LOTS of physical gold is moving from London to Hong Kong (and then to China).

FOFOA has a new article out:  He discusses why "paper gold" functions differently from physical gold as well as "paper corn" and other commodities.  FOFOA's previous piece is his concise interview with the newspaper journalist from India, and highly recommend that article as well.  FOFOA may be more popular in INDIA than here in the USA!


Since moving here to Miami some 11 years ago, I have picked up some statistics on "The Magic City" that some of you may enjoy!  Hey, we're Number One!  Among major US cities, we are number one in (I am unable to cite sources, heard them on the radio over the years):

-- worst driving in the country!
-- worst road rage!
-- poorest city in the USA (nudging out San Antonio some 3 years ago)
-- stupidest city (lowest educational attainment)
-- VAINEST city (guys working out, women having "work" done on them)
-- and now..., the SEXIEST city (177 times per year, 73% sexually satisfied)

Update!  One of my "key readers" advised me that Miami is No. 1 in yet another way:

#1 in cannibal zombies too! 


"We're Number One!"

Miami is "The Magic City"!  Hey, I believe it, because it ALL happens here!

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