Monday, May 14, 2012

IMF Now buying gold.

It wasn't too long ago that they were selling gold to raise money, now they are buying to cover credit risk.  It will be interesting to see how these purchases are facilitated or if it is simply purchases (or swaps) from central banks to provide liquidity for cash strapped debtor nations.   The sales were not done in the open market, the purchases probably won't either.


NEW YORK (Commodity Online): The International Monetary Fund (IMF) is planning to purchase more than $2 billion worth of gold on account of rising global risks. The IMF currently holds around 2800 tonnes of gold at various depositories.
“The Fund is facing increased credit risk in light of a surge in program lending in the context of the global crisis. While the Fund has a multi-layered framework for managing credit risks, including the strength of its lending policies and its preferred creditor status, there is a need to increase the Fund’s reserves in order to help mitigate the elevated credit risks”, Bloomberg quotes a report by an IMF staff while also adding that a $2.3 billion gold purchase is in the planning.
IMF's borrowers include Eurozone countries like Greece and Portugal. Greece is IMF's biggest borrower and the nation is currently caught in a political deadlock that seems bent on denying itself the much needed bailout fund.
Countries like Spain is also officially in recession after its first quarter GDP contracted. Other nations in the Eurozone region is also showing increased signs of slow manufacturing activity and economic growth.
In such a risky financial environment, the IMF's move could be considered wise and can be seen as an indication of how much trust the mainstream financial community now has on precious metals like gold.

Tuesday, April 24, 2012

Sound Money in the Show Me State.

I doubt that this will do much other than provide a legal president if the federal government tries to confiscate gold again.  Though if enough states do this and people actually use gold as money it could be a consideration when weighing monetary policy at the Federal Reserve.  


Really though if we get to this point SNAP cards are going to be worth as much as gold based debit cards.






Missouri's Sound Money Bill Is Really a Protest
By David Nicklaus
April 24, 2012

When the dreaded hyperinflation arrives, the Missouri House wants Missourians to be ready.

Last week, the legislative body passed the Missouri Sound Money Act of 2012, which declares U.S. gold and silver coins to be legal tender in the state.

That sounds a bit odd, especially since the federal government already recognizes its bullion coins as legal tender.  It's just that nobody's going to pull out a $50 gold piece to pay for snacks at QuikTrip, because the ounce of gold in the coin is really worth $1,600.

Backers of the Sound Money Act envision a system in which you could deposit gold and silver coins in a vault and get a debit card tied to their metal value. If the Federal Reserve debases the value of the dollar – a favorite prediction among the gold-bug set – gold and silver would rise in value, and prescient Missourians could brag about their enhanced purchasing power.

Utah passed a legal-tender law last year, and South Carolina's legislature is considering one this year.

Rich Danker, economics director of conservative lobbying group American Principles in Action, said a couple of institutions in Utah are working to create the gold debit-card system. Until that's in place, sound-money advocates have to spend out of bank accounts denominated in dollars, just like the rest of us.

Missouri's legal-tender bill would benefit precious metals investors by eliminating state capital gains taxes on U.S.-minted coins. A fiscal note says the state treasury could lose more than $370,000 a year.

That's a small price to pay, backers argue, for monetary freedom....


Read the rest here: Missouri's Sound Money Bill Is Really a Protest - St. Louis Today

Monday, March 19, 2012

Bypassing Sopa and Restricted Access

From codebangers


So if these bastards in DC decide to ruin the internet, here’s how to access your favorite sites in the event of a DNS takedown.



Here’s a tip for the do-it-yourself crowd: Go to your computer’s Start menu, and either go to “run” or just search for “cmd.” Open it up, and type in “ping [website address],”
Once you have the IP for a website, all you really need to do is enter it like you would a normal URL and hit enter/press go. Typing in “208.85.240.231” should bring you to the front page of AO3, for example, just as typing “174.121.194.34/dashboard” should bring you straight to your Tumblr dashboard. Since we’re obviously bracing for the worst case scenario which would involve you not being able to access the internet regularly, you should, save this list.

tumblr.com 174.121.194.34
wikipedia.org 208.80.152.201
# News
bbc.co.uk 212.58.241.131
aljazeera.com 198.78.201.252
# Social media
reddit.com 72.247.244.88
imgur.com 173.231.140.219
google.com 74.125.157.99
youtube.com 74.125.65.91
yahoo.com 98.137.149.56
hotmail.com 65.55.72.135
bing.com 65.55.175.254
digg.com 64.191.203.30
theonion.com 97.107.137.164
hush.com 65.39.178.43
gamespot.com 216.239.113.172
ign.com 69.10.25.46
cracked.com 98.124.248.77
sidereel.com 144.198.29.112
github.com 207.97.227.239
# Torrent sites
thepiratebay.org 194.71.107.15
mininova.com 80.94.76.5
btjunkie.com 93.158.65.211
demonoid.com 62.149.24.66
demonoid.me 62.149.24.67
# Social networking
facebook.com 69.171.224.11
twitter.com 199.59.149.230
tumblr.com 174.121.194.34
livejournal.com 209.200.154.225
dreamwidth.org 69.174.244.50
# Live Streaming Content
stickam.com 67.201.54.151
blogtv.com 84.22.170.149
justin.tv 199.9.249.21
chatroulette.com 184.173.141.231
omegle.com 97.107.132.144
own3d.tv 208.94.146.80
megavideo.com 174.140.154.32
# Television
gorillavid.com 178.17.165.74
videoweed.com 91.220.176.248
novamov.com 91.220.176.248
tvlinks.com 208.223.219.206
1channel.com 208.87.33.151
# Shopping
amazon.com 72.21.211.176
newegg.com 216.52.208.187
frys.com 209.31.22.39
# File Sharing
mediafire.com 205.196.120.13
megaupload.com 174.140.154.20
fileshare.com 208.87.33.151
multiupload.com 95.211.149.7
uploading.com 195.191.207.40
warez-bb.org 31.7.57.13
hotfile.com 199.7.177.218
gamespy.com 69.10.25.46
what.cd 67.21.232.223
warez.ag 178.162.238.136
putlocker.com 89.238.130.247
uploaded.to 95.211.143.200
dropbox.com 199.47.217.179
pastebin.com 69.65.13.216




Sunday, January 15, 2012

Improvised 12 Gauge Reloading with Matches.

Thi

This is a very clever alternative if you already have primers and reloading equipment.  This may be practical even in an everyday scenario like shooting at very close range in your backyard and not worrying about your neighbors.


Wednesday, January 11, 2012

Making Iron, Viking style.

Fascinating stuff, I still want to know what some guy named Olaf or Sven was thinking a millennium ago when they figured out that this is how you make iron. It looks a little involved to just stumble upon the process.