Gold/Silver Soar - Depression Coming?

Things don't look good.

On Sep 17, 2:11*pm, Voltronicus wrote:
Things don't look good.

Is this your entry in the understatement of the year contest?

On Sep 17, 6:28*pm, bgg wrote:
On Sep 17, 2:11*pm, Voltronicus wrote:

Things don't look good.

Is this your entry in the understatement of the year contest?

Was that your entry in the asshole of the year contest?

"Voltronicus" wrote in message
...
Things don't look good.

Hello

You can blame the 109th Congress of the 1990's for
the problems we now have. Read the information below.
The Glass-Steagall Act repeal was lead by a one, Senator
Phil Grame. He is now John McCain economic advisor at
this time.

Unemployment during the Great Depresson ran from 9.0
percent to 25.0 percent. We are only three percentage
points from being 9.0 percent unemployment.



FROM:
http://www.investopedia.com/articles/03/071603.asp

In 1933, in the wake of the 1929 stock market crash and
during a nationwide commercial bank failure and the Great
Depression, two members of Congress put their names on
what is known today as the Glass-Steagall Act (GSA). This
act separated investment and commercial banking
activities. At the time, "improper banking activity", or
what was considered overzealous commercial bank involvement
in stock market investment, was deemed the main culprit of
the financial crash. According to that reasoning, commercial
banks took on too much risk with depositors' money.
Additional and sometimes non-related explanations for the
Great Depression evolved over the years, and many questioned
whether the GSA hindered the establishment of financial
services firms that can equally compete against each other.
We will take a look at why the GSA was established and what
led to its final repeal in 1999.

Reasons for the Act - Commercial Speculation

Commercial banks were accused of being too speculative in
the pre-Depression era, not only because they were investing
their assets but also because they were buying new issues
for resale to the public. Thus, banks became greedy, taking
on huge risks in the hope of even bigger rewards. Banking
itself became sloppy and objectives became blurred. Unsound
loans were issued to companies in which the bank had
invested, and clients would be encouraged to invest in those
same stocks.

Effects of the Act - Creating Barriers

Senator Carter Glass, a former Treasury secretary and the
founder of the U.S. Federal Reserve System, was the primary
force behind the GSA. Henry Bascom Steagall was a House of
Representatives member and chairman of the House Banking and
Currency Committee. Steagall agreed to support the act with
Glass after an amendment was added permitting bank deposit
insurance (this was the first time it was allowed).

As a collective reaction to one of the worst financial crises
at the time, the GSA set up a regulatory firewall between
commercial and investment bank activities, both of which
were curbed and controlled. Banks were given a year to decide
on whether they would specialize in commercial or in
investment banking. Only 10% of commercial banks' total
income could stem from securities; however, an exception
allowed commercial banks to underwrite government-issued
bonds. Financial giants at the time such as JP Morgan and
Company, which were seen as part of the problem, were
directly targeted and forced to cut their services and,
hence, a main source of their income. By creating this
barrier, the GSA was aiming to prevent the banks' use of
deposits in the case of a failed underwriting job.

The GSA, however, was considered harsh by most in the
financial community, and it was reported that even Glass
himself moved to repeal the GSA shortly after it was
passed, claiming it was an overreaction to the crisis.

...

On Sep 17, 4:09*pm, Voltronicus wrote:
On Sep 17, 6:28*pm, bgg wrote:

On Sep 17, 2:11*pm, Voltronicus wrote:

Things don't look good.

Is this your entry in the understatement of the year contest?

Was that your entry in the asshole of the year contest?

Shucks. I was just agreeing with you...

On Sep 17, 8:17*pm, bgg wrote:
On Sep 17, 4:09*pm, Voltronicus wrote:

On Sep 17, 6:28*pm, bgg wrote:

On Sep 17, 2:11*pm, Voltronicus wrote:

Things don't look good.

Is this your entry in the understatement of the year contest?

Was that your entry in the asshole of the year contest?

Shucks. *I was just agreeing with you...

Sorry.

On Sep 17, 5:52*pm, Voltronicus wrote:
On Sep 17, 8:17*pm, bgg wrote:

On Sep 17, 4:09*pm, Voltronicus wrote:

On Sep 17, 6:28*pm, bgg wrote:

On Sep 17, 2:11*pm, Voltronicus wrote:

Things don't look good.

Is this your entry in the understatement of the year contest?

Was that your entry in the asshole of the year contest?

Shucks. *I was just agreeing with you...

Sorry.

NP. As it turns out, I was way nicer than the next guy.

"Voltronicus" wrote in message
...
Things don't look good.

Translation: I, Voltronicus am an imbecile who likes to state the obvious
just to hear the fart noises flatulate out of my facehole.

"Voltronicus" wrote in message
...
Things don't look good.

I'm going to buy stock in a company that
sells air freshener. I figure by the time Laurel
and Hardy finish unloading wallstreets toxic
waste dumps in every taxpayers living room
sales of Air Freshener will be booming.
That can even be a campaign promise you know:
"A can Air Freshener on every shelf." And more
promises of vouchers for anyone with chee-drins.

On Sep 18, 7:54*am, "Longnine009"
wrote:
"Voltronicus" wrote in message

...

Things don't look good.

I'm going to buy stock in a company that
sells air freshener. I figure by the time Laurel
and Hardy finish unloading wallstreets toxic
waste dumps in every taxpayers living room
sales *of *Air Freshener will *be booming.
That can even be a campaign promise you know:
"A can Air Freshener on every shelf." * And more
promises of vouchers for anyone *with chee-drins.

Why not invest in tombstones, they're probably going to be alot of
early graves soon. Yeah I know its an ugly comment but alot of people
killed them selves back in 1929. Might also try food stocks like
General Meals or who ever makes the Ramon noodles. They're will be
alot of people buying them types of food if they market gets much
worse.