Israel, Palestine and the U.S. Congress
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Tuesday, September 29, 2009
Friday, September 04, 2009
Gold Poised for Move Upward
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Another of what I refer to as a "significant event" occurred this last week in China. The Chinese government is encouraging their citizens to buy gold and silver.
China pushes silver and gold investment to the masses
"A report suggests that the Chinese government is pushing the general public into buying gold and silver bullion, which could have a dramatic effect on the markets."
Source: Mineweb.co.za
The Chinese government is encouraging the public to "invest" in silver and gold. This promotion of precious metals as an investment option is a 180 degree turn about for the Chinese government. Just a few years ago, the sale of gold and silver was under strict government control. Now, for the first time, Chinese citizens can invest in silver bullion. Silver bars are available in weights from 500 grams to 5 kilograms with a purity of 99.9%.
Herein lies the significance of what the Chinese government is doing by promoting the investment of the Chinese public in precious metals: China holds over 1.5 trillion dollars of its reserves in US debt, mostly US Treasuries. If the Chinese were to switch these reserves into precious metals, like gold and silver, this move would undoubtedly drive the US dollar down and the global price of gold and silver up.
The Chinese government has recently publicaly stated their concerns about the dollar holding its value over the long term. They may be getting ready to take proactive steps to protect their interests.
Those who hold gold and or silver might well benefit from such a protective move.
A Second American Revolution is Needed
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Not enough of this type of "common sense" talk:
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Thursday, September 03, 2009
"Cash for Clunkers" - Why No "Buy American" Restriction?
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The CARS program ended sales on the Monday night with nearly 700,000 clunkers taken off the roads, replaced by far more fuel efficient vehicles. Rebate applications worth $2.877 billion were submitted by the 8 p.m. deadline, under the $3 billion provided by Congress to run the program.
Car Allowance Rebate System
"Cash for Clunkers" is an U.S. government subsidized program wherein taxpayer money was given to those who traded in their "clunker" for a new vehicle. As reported, almost 3 billion of American tax dollars were spent on this program.
The Top Ten Cars sold during the program:
1. Toyota Corolla
2. Honda Civic
3. Toyota Camry
4. Ford Focus
5. Hyundai Elantra
6. Nissan Versa
7. Toyota Prius
8. Honda Accord
9. Honda Fit
10. Ford Escape FWD.
source: Car Allowance Rebate System - PDF
Let's ignore for a moment the fact that no where in the U.S. Constitution is the federal government given permission by the people to take money from some people and give it to others. The CARS program, like so many others, was implemented and Americans, at this time, have to deal with what is, not with should be. But if there was ever a time when there should have been a condition placed on such a government give-away of other people's money, it should have been this CARS program.
With the US taxpayers now in what is essentially a partnership with GM and Chrysler, all of the "Cash for Clunkers" money should have been required to be used to buy American made cars exclusively. Instead, once again, American taxpayer money was used to benefit foreign companies and foreign workers, with much of that 3 billion dollars being sent outside of the US. Remember when taxpayer money used to bailout AIG was sent overseas to German and Swiss banks?
A Buy American requirement of this type - in light of the depression America is currently experiencing - would surely be understood by the foreign companies, Toyota, Honda, Nissan, et al, as a reasonable measure. That American taxpayer dollars was, during this time, going to be used to help American workers, American companies and America overall. America was going to come first.
Instead, what did we witness?
US Cash For Clunkers Scheme Helped Asian Car Groups
In the US lots more cars were sold, but America's brief $US3 billion 'Cash for Clunkers' car scrappage scheme has failed its basic test: it didn't produce an industry- wide improvement in sales, especially for the two US government restructured giants, General Motors and Chrysler.
Foreign producers like Toyota and Hyundai got significant boosts, as suspected from early figures, Ford was helped, but General Motors and Chrysler both saw lower than expected sales.
In fact the clunkers scheme pushed buyers towards more efficient, smaller cars produced by Asian car companies.
So Asian car groups grabbed an unprecedented 52.3% of all US car sales in August for the first time.
The fading Big three US groups, Ford, General Motors and Chrysler, saw their shares slide to a record low of 40.8%.
LiveNews.com.au
The lack of such a stipulation is, to me, more evidence that the US government is purposely destroying the American economy.
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