MooPig 'Stuff No One Wants to Hear About' Department :: "Devaluation of our Dollar"

I Believe It, because I Lived It
Compiled articles by Pat Darnell  |  Mar 16, 2014  |  Bryan TX

[Picture LINK] Rockefeller is probably hoarding tons of gold, I bet he has a few rooms like this.

After 3000+ posts, MooPig Wisdom is finally putting the final pieces in to complete the jigsaw puzzle that is our current government, and business environment. Finding reasons for current events is a humbling task. We cannot say it is not without a bunch of zigging and zagging to go from the question "What in the name of God is our government doing?" ... to today's question ... "Oh, so that is why they are doing all this boondoggling?"

We have in essence been rehashing issues that bubbled up during the 60's - 70's. UCLA Berkeley says:

1971 Termination of Gold/Dollar Convertability - Timeline - Slaying the Dragon of Debt - Regional Oral History Office - University of California, Berkeley: "Under the Bretton Woods agreement of 1944 the U.S. dollar was the only national currency directly backed by gold. Other currencies were valued against the dollar, which could be exchanged through the U.S. government's "gold window" for a fixed amount of gold. Over the course of the 1960's, however, this system came under strain. Spending on the Vietnam War and Great Society as well as the revival of Western Europe and Japan led to a decline in the U.S. balance of payments. This, in turn, placed significant pressure on the dollar: U.S. gold holdings could not keep pace with the expanded money supply required by domestic and international economic growth. Fearful that other governments would rush to convert their dollars into gold and thereby precipitate a run on the dollar, on August 15, 1971 Richard Nixon unilaterally suspended dollar-gold convertibility."

'via Blog this'

CONCLUSION
It is as if Globalization, and International ambiguity hit the USA like a conflagration in the 1960's. Due to the spending on international pet projects like the Vietnam War and the Great Society, Nixon took away the gold standard of our currency. Our gold holdings could not keep up with our spending abroad. What would happen if Vietnamese suddenly turned all their dollars in for gold?

That act set in motion ripples in every phase of government, industry, business, and life withstanding. We are still riding this ripple today, like surfers with lots of fiat cash in our hip pockets.


___________________Reference
http://bancroft.berkeley.edu/ROHO/projects/debt/terminationgolddollar.html
http://www.abovetopsecret.com/forum/thread448462/pg9
http://bancroft.berkeley.edu/ROHO/projects/debt/oilcrisis.html

MooPig Economic Crisis Department :: "Filling Geithner's (Small) Shoes"

Retrieved by Pat Darnell  |  Oct 22, 2012  |  Bryan TX  | Thanks to Pribek.net

[Picture LINK] ...Timmy Geithner Knows Diddly-Squat...

Our Economic Crisis is years -- no, decades -- in the making. Propaganda has been spewed about a "strong dollar" ... "trade partners" ... "why the costs of gold and silver rose..." and what does all the talk bring us?

For answers you have to research Tim Geithner's regime as Treasury Secretary. Ho-hum... boring... it's not about kittens and teenagers. No; it's more like a story about "if you can't screw it, or throw money at it, it isn't worth anything..." rhetoric.

Here's how that rhetoric goes:

" ... Unbowed by the dollar's recent weakness — it hit its lowest level since August 2008 Tuesday -- or record-setting gold and silver prices, Geithner reiterated a now familiar theme among policymakers: The dollar's strength during the "darkest moments" of the crisis is "very encouraging," he said, and shows investors "retain fundamental confidence in the ability of the U.S. to manage" its long-term budget issues. (Cohen, Dave. 04/27/2011. HERE) ... "

 Filling Geithner's (Small) Shoes: "In an economic crisis, the treasury secretary (tied with the Fed chairman) becomes the most important domestic public official after the president. Two huge and interconnected issues will face the next secretary: what to do about the still dysfunctional and largely unreformed banking system; and how to deal with the elite clamor for deficit reduction uber alles." (Robert Kuttner: 09/23/2012. HERE)

'via Blog this'


Timothy Geithner has said that he'll step down as Treasury Secretary at the end of Obama's first term. Assuming that Mitt Romney keeps self-destructing and Obama wins a second term, who should succeed him?

" ... Here are some people who might be taken seriously. I hope my comments don't spoil it for the relative good guys...

• Erskine Bowles.
• Jack Lew.
• Larry Fink
• Lael Brainard.
• Gene Sperling.
• Michael Barr.
• Laura Tyson.
• Daniel Tarullo.
• Gary Gensler.
• Ben Bernanke.
• Janet Yellen.
• Sheila Bair.
• Martin Gruenberg.
• Sarah Bloom Raskin.
• Barney Frank,
• James Galbraith,
• Damon Silvers
• Joseph Stiglitz, Brooksley Born, Phil Angelides.

" ... Heh-heh-heh-heh-heh. This is a key appointment, folks. Should not be left to the usual suspects. Progressive community should be paying attention, big time. (Robert Kuttner: 09/23/2012. HERE) ..."


_____________________Reference
http://www.huffingtonpost.com/robert-kuttner/filling-geithners-small-s_b_1908111.html
http://www.declineoftheempire.com/2011/04/timmy-geithner-knows-diddly-squat.html

Olympic Gold Melee and Primeval Jousting: Basketball Team USA

USA versus Spain for the Gold 2008 in Basketball, by Pat Darnell

I remember being excited once. We were watching and cheering our basketball team in junior high school. For some reason our Pershing Pandas had a fantastic team who played and passed with a flow of motion. It was an emotional team. They had one guy named Mars who looked like a giraffe. He was tall for our age, and he was contrasted with a short guy named Keys. So Keys and Mars created an incredible tension for the other team, and great drama for us fans.

It's 4 AM and the US Basketball team just won its last game for the gold medal. It was very exciting. Our guys ran hard and played like they were a foot off the ground at all times. The Spaniards are taller over all, or so it seems. They are fleet too. They have some too tall forwards, who seemed to always be standing in the middle of the pathways to goals.

Yes, Spain's forwards looked like those enormous balustrades that are placed in the ocean where ferry's maneuver for docking. Big horns blowing, feet the size of Brooking to Alaska, huge white drawers catching the breeze of Kobe Bryant zipping by... describes the Spaniards. Those fellows must be drinking unpasteurized whole milk in the mornings; Tequila in the evening.

Team USA were golly-gee-bewhiskered all night, smiling at every shot, furrowed brows at every ref whistle and call, and a new way to pass the ball at every offense attack. They wanted badly to "play" but they were denied this by the big salamandar arms with knuckles dragging on their opponents.

One time the ball went back and forth like volley ball as our guys stole then they stole, all crazy like. Each time one broke for his goal, the camera would get caught going the wrong way, because the ball was intercepted again. The shot clock kept restarting. Then somebody tripped, and it was one of those get the man with the ball. I am positive the Spaniard's seven footers were tripping our guys. Both of them would be eight feet 6 inches tall if so much of them wasn't turned under. Their feet looked like river barges with a little extra ramp attached for loading tanks.

Every time the ball whipped through a bunch to the middle, some how all the crisis's converged on that very moment. It resembled a loose ruck in a rugby match underneath the basket, not just once but all night long. Once USA grabbed the lead, they held onto it for the rest of the game, though. Much due to the completion of free shots from the melee under the rims.

Our big guy, Duane Wade, sometimes looked like he was doing a butterfly stroke as he started toward the basket with the ball in both hands; only to have his arms slapped down while only his head continued to the hoop. Then with sweat flying everywhere, it resembled Mike Phelps on third leg of the swimming relays.

There also were unusual moments when bodies were sliding across the key, and piling up there amid lots of squirming. One or the other team mate would squirt out from underneath, and toss to a standing team mate; that's right, a lateral from the floor. In the old days, like I remember, this used to be a jump ball. The ref's in this match were alternating from turning into pillars of salt to back into ref's.

I remember the game got sweaty and hot in the gym at our alma mater Pershing. The floors had to be wiped several times by team supporters, because of players falling and sliding. Olympic Gold playoff tonight was just that playful. China's towel guys and gals had to mop up plenty all night. I got the feeling that this was a major joy for them.

Near the end Kobe Bryant sidled up to Coach, and sort of giggled, then poured a bottled water all over him. Very funny, you should've been there.

USA 118 -- Spain 107
Bronze goes to Lithuania