Dec 29th, 2011
More on the growing crisis via IndiaInfoLine:
"Gold plummeted yet again today; witnessing a free fall to extend its mega downward lurch towards its September lows. The metal has been getting hammered amid year end trades and the primary influencing factor is yet again the US dollar. Dollar broke under 1.2900 levels against the Euro today, extending its recent rally to test fresh highs for the current year as European stock markets pared earlier gains after mixed results from the auction of Italian longer-dated government bonds. Yields on three and 10-year debt fell as Italy sold €7.017 billion ($9.07 billion) in the auction, though the amount fell short of the expected €8.5 billion. "
Showing posts with label Benjamin Goldberger. Show all posts
Showing posts with label Benjamin Goldberger. Show all posts
Thursday, December 29, 2011
Gold!!!
Dec 29th, 2011
One more time, gold is a commodity.
It is not magic, ever-rising-value metal. It was never going to not drop as a tradeable element.
Someone tell both Ron Paul and Glenn Beck to shut up for a minute and consider just how much damage their fear-mongering has likely caused. Think about it. Using convenient alarmism, they elevated the paranoia and distrust of our "fiat currency" to heights previously only seen in John Birch Society meetings. And people reacted.
How many Americans liquidated other, more stable assets to put it all into gold? How many people bought gold in September of this year and are now being wiped out?
Go to MoneyWeek. Here's what the situation looks like over the last month.
David Frum has his own chart from MoneyWeek (it's interactive and you should go check it out). He is seriously appalled:
"The price of gold dropped $31 an ounce yesterday. Gold has dropped $400 since the summer. Gold still shows gains over one year ago. And of course people who bought gold at the prices that prevailed before 2008 can claim profits of 50% or better on their investment. (NB: The best returns have flowed to large-scale investors who eschewed physical gold in favor of futures. And as always, coins are for suckers.)
Further declines look likely. Gold sales have plunged in India, the world’s largest market for gold jewelry. The rupee has steeply declined against the dollar, raising the cost of gold to Indian customers. Traders are speculating that India’s gold imports could tumble by possibly half.
Gold is a uniquely strange asset, because so many people in the gold market buy gold as a matter of ideology and identity. Cocoa, copper, or cotton trade as commodities. Gold trades as a way to make a statement. That’s simply not a sensible way to invest. A great many Americans are paying a steep price – and may pay a much steeper price yet – for allowing hucksters and ideologues to sway their economic judgment."
One more time, gold is a commodity.
It is not magic, ever-rising-value metal. It was never going to not drop as a tradeable element.
Someone tell both Ron Paul and Glenn Beck to shut up for a minute and consider just how much damage their fear-mongering has likely caused. Think about it. Using convenient alarmism, they elevated the paranoia and distrust of our "fiat currency" to heights previously only seen in John Birch Society meetings. And people reacted.
How many Americans liquidated other, more stable assets to put it all into gold? How many people bought gold in September of this year and are now being wiped out?
Go to MoneyWeek. Here's what the situation looks like over the last month.
David Frum has his own chart from MoneyWeek (it's interactive and you should go check it out). He is seriously appalled:
"The price of gold dropped $31 an ounce yesterday. Gold has dropped $400 since the summer. Gold still shows gains over one year ago. And of course people who bought gold at the prices that prevailed before 2008 can claim profits of 50% or better on their investment. (NB: The best returns have flowed to large-scale investors who eschewed physical gold in favor of futures. And as always, coins are for suckers.)
Further declines look likely. Gold sales have plunged in India, the world’s largest market for gold jewelry. The rupee has steeply declined against the dollar, raising the cost of gold to Indian customers. Traders are speculating that India’s gold imports could tumble by possibly half.
Gold is a uniquely strange asset, because so many people in the gold market buy gold as a matter of ideology and identity. Cocoa, copper, or cotton trade as commodities. Gold trades as a way to make a statement. That’s simply not a sensible way to invest. A great many Americans are paying a steep price – and may pay a much steeper price yet – for allowing hucksters and ideologues to sway their economic judgment."
Saturday, December 24, 2011
The Boston DA Vs Twitter
Dec 24th, 2011
The Boston District Attorney has apparently subpoenaed twitter for a huge amount of personal information corresponding to citizens that tweeted about that city's Occupy Movement.
To the left is the cover page of their request that twitter violate the privacy of thousands of users.
Privacy SOS reports:
"On December 20, 2011, Twitter revealed to the targets that Assistant District Attorney of Suffolk County (Boston) Benjamin Goldberger had subpoenaed their account information in a document dated December 14, 2011. ADA Goldberger asked for:"
They targeted not only specific users, but also all personal information related to several hashtags. Twitter did do the right thing. Instead of honoring the ADA's request or their demand that the subpoena be kept secret, they went public and contacted the individual targets directly.
The Boston District Attorney has apparently subpoenaed twitter for a huge amount of personal information corresponding to citizens that tweeted about that city's Occupy Movement.
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| CLICK IMAGE FOR BETTER VIEW via |
Privacy SOS reports:
"On December 20, 2011, Twitter revealed to the targets that Assistant District Attorney of Suffolk County (Boston) Benjamin Goldberger had subpoenaed their account information in a document dated December 14, 2011. ADA Goldberger asked for:"
They targeted not only specific users, but also all personal information related to several hashtags. Twitter did do the right thing. Instead of honoring the ADA's request or their demand that the subpoena be kept secret, they went public and contacted the individual targets directly.
He also suggests that citizens contact ADA Goldberger and "ask him what his office is up to," with the caveat, "but you really should keep it polite -- he seems pretty litigious."
Mr. Goldberger is attempting cast a net wide enough to expose the IP addresses of anyone who had the audacity to speak about a political issue.
It's not just bullshit. It's seriously frightening bullshit.
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