news.goldseek.com >> 2 July 2009
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news.goldseek.com >> 2 July 2009 |
Silver Takes on Gold Supremecy
By: Richard Daughty, The Mogambo Guru
Mark at Northwest Territorial Mint suggests that instead of me always yammering about buying “gold, silver and oil”, maybe I should switch to “silver, gold and oil”, which he deems “might even merit an exclamation point” since silver should precede gold in the lineup since silver is probably the most astoundingly under-priced element on the face of the planet!
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news.goldseek.com >> 30 June 2009 |
The Ups and Downs of Money Supply Growth
By: Richard Daughty, The Mogambo Guru
I usually have a get “prepared” to visit John Williams at his famous shadowstats.com site so that I am “feeling no pain,” and this time I was happy I was, as his headline was “Inflation, Money Supply, GDP, Unemployment and the Dollar – Alternate Data Series”.
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news.goldseek.com >> 28 June 2009 |
All the Collateral that’s Fit to Print
By: Richard Daughty, The Mogambo Guru
I was really ready for a laugh when I read the Bloomberg article, “Derivatives Industry Gets Second Look From Congress.” To start off the festivities, it opens with a photo of the odious Christopher Dodd, the self-important arrogant loudmouth from Connecticut who milks the job for special “favors” and personal aggrandizement, actually chairs the House banking committee and, as a long-time member of Congress, is directly responsible for the economic catastrophe befalling us and the world, a sorry fact that I hope is a complete and utter embarrassment to the voters of Connecticut.
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news.goldseek.com >> 26 June 2009 |
Worthless Money from the US to Zimbabwe
By: Richard Daughty, The Mogambo Guru
I had been getting ready for the release of the latest totals of how much credit the damned Federal Reserve had created in the last week, and I am afraid that I overdid it a little. Prying open one bloodshot eye with a numbed finger, I looked at the number and saw that they had created another $29.4 billion in new credit last week! Which wasn’t all that much, in comparison to the records of new money they created in the last year!
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news.goldseek.com >> 24 June 2009 |
The Mysterious Omen that is ‘Divisor Change’
By: Richard Daughty, The Mogambo Guru
In Barron’s this week, they had a big notice, labeled “Divisor Change” pasted onto the chart of the Dow Jones Industrials Average, which leads off their Market Laboratory section. The notice was necessary since General Motors and Citigroup were taken out of the DJI index, while Cisco Systems and Travelers were added, and a difference in their capitalizations means that there must be a divisor change so that the index itself would not change as a result of the substitution. The new divisor is 0.132319125, which is different than the old divisor, which was 0.125552709.
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news.goldseek.com >> 23 June 2009 |
Nightmarish Financial Numbers
By: Richard Daughty, The Mogambo Guru
Minyanville.com had the headline, “Velocity of Money Comes to a Standstill.” The report starts off with the news that “Current consumption, which at $8.2 trillion is around 70% of GDP, has fallen $150 billion from last year,” and that investment, which represents things like building factories, is $1.3 trillion or 11% of GDP, and down 23.3% from last year.”
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news.goldseek.com >> 22 June 2009 |
Solar Powered Economic Downturn
By: Richard Daughty, The Mogambo Guru
If you are one of those people who thinks that the Earth revolves around the sun and that the sun has important implications for life on earth, then I know that you are not a government employee, as everyone from the president, to the Congress, right on down to the municipal employee whose miserable job it is to clean up the filthy toilets after the government employees have messed them up, all think that they can overcome any obstacle – man-made, natural or wrath of a supernatural force – if only given more money in their salaries and budgets.
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news.goldseek.com >> 19 June 2009 |
The Euphoric High of Government Spending
By: Richard Daughty, The Mogambo Guru
I gotta admit that I am confused by lots of things, like how come if my kids hate it here so much, why don’t they run away from home and save us all a lot of aggravation? And then there is my confusion over the Bloomberg.com report that “Brazil and Russia joined China this week in saying they would shift some $70 billion of reserves into multicurrency bonds issued by the International Monetary Fund.” Huh?
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news.goldseek.com >> 18 June 2009 |
Trusting Banks as Far as You Can Throw Them
By: Richard Daughty, The Mogambo Guru
I was kind of dozing, idly dreaming of playing golf, where if I wasn’t putting the ball right into the cup from 25 feet away, then I was chipping it in from 25 yards out, wowing the crowd with deft wedge action, whereupon my caddy, a beautiful girl in a bikini and stiletto heels, would say, “Oooh! Nice one! You are so good that it gets me hot! I am panting for you, my Hot Mogambo Golfing Stud (HMGS)!”
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news.goldseek.com >> 17 June 2009 |
Purchasing Gold as a Product of Plagiarism
By: Richard Daughty, The Mogambo Guru
My latest sure-fire, money-maker idea is to sue Yu Yongding, former bigshot with the Chinese central bank, for plagiarism, as he is the guy who said that “If the US can find a way to protect China’s assets, America’s standing here will increase.”
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news.goldseek.com >> 16 June 2009 |
Chinese Laughter the Sound of US Stupidity
By: Richard Daughty, The Mogambo Guru
The winner of the Mogambo Award For Most Imbecilic Statement Of The Month (MAFMISOTM) comes from a Financial Times article where we read that Tim Geithner, whom I ungraciously call (with a sneer and a voice dripping with a tone of Pure Mogambo Contempt (PMC)), the “rat-like Treasury Secretary of the United States,” tried to convince China that “the US would do what was necessary to bring its budget under control.” Hahahaha!
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news.goldseek.com >> 14 June 2009 |
The Unmistakable Stench of Bad Fiscal Policy
By: Richard Daughty, The Mogambo Guru
I keep marveling at the Financial Times article talking about Angela Merkel, the German chancellor, breaking tradition and ridiculing central banks and their idiotic monetary policies.
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news.goldseek.com >> 12 June 2009 |
It’s All Funny Money
By: Richard Daughty, The Mogambo Guru
The column I wrote last week about the gold content of the Krugerrand versus the Austrian Philharmonic was, it seems, a mistake, and I am really embarrassed. For some reason, I always remember that the Krugerrand (a coin that is 91% gold) always sold for less money than pure-gold coins like the Austrian Philharmonic, and so I was surprised to see that they are now selling at the same price, leading to an incorrect conclusion and a stupid column.
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news.goldseek.com >> 11 June 2009 |
Standing at the Gates of Economic Hell
By: Richard Daughty, The Mogambo Guru
Since being recently stung by my own poor research, bad work habits, a faltering memory and a complete lack of concern, I feebly try to make amends by precisely looking at a $2.7 trillion contraction in available credit, and then mentally comparing that to the $14 trillion in total GDP of the Whole Freaking Country (WFC) and saying, with Typical Mogambo Inexactitude (TMI), “That’s a lot!”
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news.goldseek.com >> 10 June 2009 |
An Economy at the End of its Rope
By: Richard Daughty, The Mogambo Guru
And since inflation is the thing I most fear, I knew that I needed money, and fast. So I spent most of the week setting up Step One of my plan, which involved setting up a fall-guy using the DaVinci Code method to find the words “Danny in accounting will loot the employee pension fund” somewhere in the Bible, but it was pretty much a bust.
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news.goldseek.com >> 9 June 2009 |
Stepping on the Commodities Gas Pedal
By: Richard Daughty, The Mogambo Guru
Oil has, finally, started to rise again, having been down below the breakeven point of pumping it, as they, too, have all kinds of rising costs like everybody else, as well as pension programs and myriad, large governmental entitlement programs to pay for.
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news.goldseek.com >> 5 June 2009 |
The Gold Bull Market and the Fed it Rode In On
By: Richard Daughty, The Mogambo Guru
I thought that as part of the new Mogambo Program To Stop Freaking Out (MPTSFO) and maybe get some sleep that is not disturbed by screaming at nightmares of the horrors of inflation and economic ruin that are the just desserts of an America that has now embraced ignorance, stupidity and sloth as virtues, I had turned off the alarms in the Mogambo Bunker (the MoBu) that were connected to the circuits monitoring the creation of bank credit by the Federal Reserve.
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news.goldseek.com >> 4 June 2009 |
The Unfortunate Adventures of Long-Term Investors
By: Richard Daughty, The Mogambo Guru
Junior Mogambo Ranger (JMR) Michael S. called to make sure I got the new Department of Labor report that says it is beginning on work that “Reforms the Unemployment Insurance System” to “make the UI program a more responsive and effective social safety net and economic stabilizer,” which I assume means higher unemployment insurance premiums for businesses, making them raise their prices, so that the government can hand out more unemployment insurance money.
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news.goldseek.com >> 3 June 2009 |
Economic Extinction of the Least Financially Fit
By: Richard Daughty, The Mogambo Guru
I was settling down with a little microwave pizza as I was watching the YouTube.com video that was featured at InformationClearingHouse.info, titled “The REAL Maverick: Present Economy Worse Than Depression” which was an interview with Nassim Nicholas Taleb and Benoit Mandelbrot.
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news.goldseek.com >> 2 June 2009 |
The Dangers of an Exploding Money Supply
By: Richard Daughty, The Mogambo Guru
With all the trillions of dollars of new money being deficit-spent by the federal government, not the least of which is the mind-boggling $1.84 trillion in new deficit-spending that the Obama administration and Congress have conspired to enact and spend This Freaking Year (TFY), it is at least amusing to know that we taxpayers are paying taxes for nothing! Hahaha! Paying taxes for nothing!
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news.goldseek.com >> 1 June 2009 |
The Reliable Money Supply Spigots
By: Richard Daughty, The Mogambo Guru
Foreign central banks, proving that they are just as stupid and corrupt as I thought they were, continue to buy American Treasury and agency debt with both hands, and their holdings stashed at the Fed jumped a big $26 billion last week as a result!
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news.goldseek.com >> 29 May 2009 |
Yuan to Jump on the Golden Bandwagon?
By: Richard Daughty, The Mogambo Guru
Maybe the fact that central banks, banks and governments around the world are acting like monetary idiots explains why gold is shooting up in price; or maybe that it is going up in price explains why there is such a new interest in gold; or maybe it just explains why people are as disrespectful of the dollar, as am I.
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news.goldseek.com >> 28 May 2009 |
Growing Accustomed to Fed Stupidity
By: Richard Daughty, The MOGAMBO GURU
I knew that gold was doing okay, but I did not know how well exactly, although I knew that gold bullion was up about 3.5% from this time last year, which is better, and by a long shot, than almost anything else you can name, but which is not, I admit, very much.
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news.goldseek.com >> 27 May 2009 |
China Offers the IMF and Indecent Proposal
By: Richard Daughty, The MOGAMBO GURU
This preposterous P/E ratio is caused by the earnings of the companies in the S&P 500 index dropping to a miniscule $7.21 per share (down from the 2007 high of over $84 per share!) at the same time as there are so many complete morons willing to pay $882 a share! Hahaha! Morons!
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news.goldseek.com >> 26 May 2009 |
The Only Two Reasons to Own Gold
By: Richard Daughty, The Mogambo Guru
I always get a real kick out of hearing that “the consumer is 70 percent of the economy,” mostly because it gives me a chance to heap ridicule and scorn on whoever said it, and I say that the consumer is 100 percent of the economy!
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news.goldseek.com >> 25 May 2009 |
The Sharpened Sticks of Quantitative Easing
By: Richard Daughty, The Mogambo Guru
I am proud to announce that I am the winner of the Mogambo Guru newsletter’s famous and much-anticipated “Name The Era Contest” – a task made easier by the fact that I just invented the contest and mine was the only entry.
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news.goldseek.com >> 22 May 2009 |
The Beginnings of the Bottom?
By: Richard Daughty, The MOGAMBO GURU
I despise Alan Greenspan more than all others (which is saying a lot, as I think most Earthlings are pretty damned stupid!), and it is he that I ungraciously characterize as the most obviously mentally ill, low-IQ, delusional lowlife scumbag on the face of the planet because he is directly responsible for every economic and financial problem...
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news.goldseek.com >> 21 May 2009 |
The “Hollywood Star” Method of Economic Prosperity
By: Richard Daughty, The MOGAMBO GURU
I took one last shot of bourbon as an essential anesthetic before I dared venture to that foul den of evil incarnate known as the Federal Reserve, and I am glad I did! I realize that I should be numb to these sick excesses of the Federal Reserve, but I am not sure that I will ever become numb to, for example, last week’s stunning $75 billion increase in Total Fed Credit, which is, literally, the fabled “money from thin air” of story and song.
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news.goldseek.com >> 20 May 2009 |
Delusions of Endless Credit
By: Richard Daughty, The MOGAMBO GURU
James Howard Kunstler, famous author and speaker, opines, “For now, the ‘bottom’ is in” which took me completely by surprise! I mean, how could anybody in their Right Freaking Mind (RFM) think that “the bottom is in” as far as the economy is concerned?
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news.goldseek.com >> 19 May 2009 |
BLS Has One Letter Too Many
By: Richard Daughty, The MOGAMBO GURU
The big news, of course, is that the Bureau of Labor Statistics at the Department of Labor reported that non-farm payroll employment continued to fall in April, and 539,000 jobs were lost, which probably explains why they later note that “Overall, private-sector employment fell by 611,000” and that “the unemployment rate rose from 8.5 to 8.9 percent.”
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news.goldseek.com >> 17 May 2009 |
Quantitative Rising Demand for Silver
By: Richard Daughty, The Mogambo Guru
If you are one of the people who write to me and question my consistent advice to buy gold, silver and oil (“Dear Mogambo, You’re an idiot, which means that you are probably wrong about gold, silver and oil, too! (signed) A guy who can recognize idiots from a mile away”), and who must think that oil will remain low forever, think again:
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news.goldseek.com >> 15 May 2009 |
The Long and Short of Bonds and Gold
By: Richard Daughty, The Mogambo Guru
John Stepek at Money Morning notes that Neils C. Jensen, in The Absolute Return Letter, reports that “using IMF statistics drawn from previous banking crises…the 12 most industrialised countries (including the US, UK and Japan) could need to issue a total of $33 trillion in debt to cover the costs of the crisis. And that’s not even a worst-case scenario – that’s based on the average rise in public debt in the three years following a banking crisis.”
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news.goldseek.com >> 14 May 2009 |
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
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news.goldseek.com >> 13 May 2009 |
Inflation and the Mass Confusion to Follow
By: Richard Daughty, The MOGAMBO GURU
This massive creation of money and credit will lead to a lot of inflation in consumer prices sooner or later (mostly sooner, and for a long time, too!), because that is what always happens, which explains why I have gold and guns, but does not explain why I wear an aluminum foil hat.
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news.goldseek.com >> 12 May 2009 |
Selling Shorts Out Naked in the Cold
By: Richard Daughty, The MOGAMBO GURU
In a bit of good news, NyTimes.com had the headline “Goodbye to Naked Shorting” by Floyd Norris. He reports that it looks like “naked shorting – the practice of selling shares short without borrowing them – is almost gone.”
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news.goldseek.com >> 10 May 2009 |
Gold in the Face of Government Stupidity
By: Richard Daughty, The MOGAMBO GURU
“Gold Isn’t Going To $2,000 An Ounce” is both the headline and the announcement of Jeff Clark at CaseyResearch.com, a conclusion he apparently reached after he “decided to take a fresh look at calculations that could be used to appraise gold’s upside potential.”
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news.goldseek.com >> 8 May 2009 |
Financial Death by Gold Deficiency
By: Richard Daughty, The MOGAMBO GURU
If you are like me, then you realize the importance of gold and understand the relative unimportance of things like family, friends, coworkers, community and career, none of which are needed when you have a lot of money because you spend all your time having a wonderful, wonderful time, and the only communication you have with any of those vampires sucking the last of your will to live from your dry, drained soul is to say to them, “Tell it to my lawyer!”
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news.goldseek.com >> 7 May 2009 |
Surprised by Money Destruction
By: Richard Daughty, The MOGAMBO GURU
I was pretty surprised that Total Fed Credit fell by a gigantic $81.5 billion last week, taking the total down to $2.088 trillion – but not THAT surprised, since the Federal Reserve has acted so despicably that I am hardly surprised at anything they do anymore, including a huge drop in Fed Credit, even though the Federal Reserve itself bought up $22 billion in various crap last week!
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news.goldseek.com >> 6 May 2009 |
When Fresh Money Goes Rotten
By: Richard Daughty, The MOGAMBO GURU
Economist Robert P. Murphy at the blog Free Advice must have heard me screeching with Total Mogambo Disrespect (TMD) about Congress and Obama deficit-spending almost $2 trillion this year, and he says, “If fiscal policy is a disaster, monetary policy is even worse.”
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news.goldseek.com >> 5 May 2009 |
The Killing of a Worthless Currency
By: Richard Daughty, The MOGAMBO GURU
All of our economic problems are caused by the Federal Reserve creating the excess of money and credit that produced the bubbles in stocks, bonds, houses and size of government, but doesn’t have to be electronic money made from electronic credit.
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news.goldseek.com >> 3 May 2009 |
U.S. Dollar Stuck Between Supply and a Hard Place
By: Richard Daughty, The MOGAMBO GURU
As I look at the pile of bills on my desk – each of them for amounts always marginally higher than they have ever been (since prices are higher than they have ever been and getting higher Every Freaking Day (EFD)) – I can’t help but reflect that our whole Sorry Economic Mess (SEM) is caused by people not paying their debts by borrowing more money with which to pay their debts...
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news.goldseek.com >> 1 May 2009 |
The Limits of Economic Garbage
By: Richard Daughty, The MOGAMBO GURU
I was pretty sloshed as I put another shot of tequila to my now-benumbed lips, but the same thought kept going through my whirling head: Total Fed Credit (also referred to as Federal Reserve Credit), zoomed $70.3 billion last week! Yikes! $70.3 billion of new credit appeared, as if by magic, in the accounts of banks in One Freaking Week (OFW)!
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news.goldseek.com >> 30 April 2009 |
China Stockpiles the “Perfect Money”
By: Richard Daughty, The MOGAMBO GURU
I was amused by the Reuters headline “China Admits to Building Up Stockpile of Gold” – although it kind of took me by surprise that they bought about 600 tons of gold without telling anyone since 2003, growing their stash by 75% since then.
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news.goldseek.com >> 29 April 2009 |
Economic BBQ on the Credit Default Spit
By: Richard Daughty, The MOGAMBO GURU
Addison Wiggin, as part of an advertisement for the new Richebächer Letter, reminded us that “Last holiday season was the slowest in four decades” which is bad news, of course, but it does explain how come I got so few Christmas presents 40 years ago, a time from which I am still carrying a grudge against Santa Claus for the flashy Harley chopper I never got, even though I asked for one every freaking year.
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news.goldseek.com >> 28 April 2009 |
Worthless “Officials” Sell Off Precious Gold
By: Richard Daughty, The MOGAMBO GURU
Gold is thus functioning perfectly, as it retains its value when everything else has turned to crap, and yet here is some “official” of the worthless World Bank looking us right in the eye and saying they want to get rid of it all! Wow! What numbskulls!
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news.goldseek.com >> 26 April 2009 |
Overly Expensive Low-Rent Health Premiums
By: Richard Daughty, The MOGAMBO GURU
My eyes fell upon the opening sentence, as I thought that the New York Post was asking a comical question, “How absurd is the price of health care in New York City?” which I thought would be followed by a comical retort, such as, “So high that it makes you sick!” Hahaha!
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news.goldseek.com >> 24 April 2009 |
Taking Liberties with Price Stability
By: Richard Daughty, The MOGAMBO GURU
Paul Volcker, the legendary former chairman of the Federal Reserve who heroically defeated a raging inflation, against powerful political opposition, which was the result of massive government spending in the ’60s and ’70s on wars and increased entitlement spending, and who is now mysteriously part of the ridiculous Obama team of economic nitwits occupying in the White House, has finally said something!
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news.goldseek.com >> 23 April 2009 |
Marooned on an Island of Debt by Greenspan’s Money Flood
By: Richard Daughty, The MOGAMBO GURU
As usual, I put on an adult-sized diaper and my tinfoil hat in careful preparation to look at the change in Total Fed Credit last week, and it is a good thing I did, too, because the Federal Reserve (as expressed in their secret motto “We Are Evil”) created, out thin air, $29 billion new dollars in bank credit! Wow!
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news.goldseek.com >> 22 April 2009 |
Silver Taste. Base Metal Money.
By: Richard Daughty, The MOGAMBO GURU
Dominic Frisby of MoneyMorning.com writes, “According to Jeff Christian of commodities research firm CPM Group, investors bought 70m ounces of silver in 2007; 100m in 2008; and based on current trends, they’re on track to buy 180m ounces in 2009.”
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news.goldseek.com >> 21 April 2009 |
Demand for Gold is in Mint Condition
By: Richard Daughty, The MOGAMBO GURU
This is where I stand up, look around, and make crude and rude farting sounds to express my complete disbelief that people are not buying gold, silver and oil against this kind of monstrous expansion of the money supply; a behavior which I have promised to no longer do at the dinner table, either at home or someplace else, ever again.
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news.goldseek.com >> 19 April 2009 |
Monetary Lab Experiments on Inflation
By: Richard Daughty, The Mogambo Guru
Bloomberg.com reports that Janet Yellen, president of the San Francisco Fed bank, says, to my complete disbelief, “For some time to come, disinflation, and even deflation, will represent greater risks than inflation.”
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news.goldseek.com >> 17 April 2009 |
The National Debt and the U.S. Selling Spree
By: Richard Daughty, The MOGAMBO GURU
Merely looking at the expression of profound disbelief on my Disbelieving Mogambo Face (DMF) and the sheer terror shining in my eyes lets you know that something is seriously, seriously wrong, and what is wrong is that this $956.8 billion half-year federal financial deficit – alone! – is more than the entire monetary base of the United States of one year ago ($826.9 billion)!!!
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news.goldseek.com >> 16 April 2009 |
Recession Plays the Inflation Fighter
By: Richard Daughty, The Mogambo Guru
The Census Bureau released its estimates of retail and food services sales for March, which they “adjusted for seasonal variation and holiday and trading-day differences, but not for price changes” which is too bad since I don’t feel right unless I have something to be angry about, and I am angry about the Federal Reserve creating so much new money and credit that it will allow the Congress to deficit-spend almost $2 trillion this year alone...
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news.goldseek.com >> 15 April 2009 |
Drawing Blood From Anemic Taxpayers
By: Richard Daughty, The Mogambo Guru
The worst part of the problem is, of course, that people seem, astonishingly, to agree that the purpose of government is to constantly enact new laws and expand entitlement spending. I don’t know where they got that stupid idea, but what happened for half a century was, as we see, disastrous.
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news.goldseek.com >> 14 April 2009 |
Golden Shorts in an Economic Winter
By: Richard Daughty, The MOGAMBO GURU
Now, before I go off ranting and raving about how another bunch of scumbags perpetrated another scam with compliance from government scumbags, let’s concentrate on the important fact that not only are a bunch of guys buying gold and demanding delivery of the actual metal, but now increasing demand has swamped supply! Amazing!
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news.goldseek.com >> 12 April 2009 |
The Means of Surviving Price Inflation
By: Richard Daughty, The Mogambo Guru
Some readers helpfully write that they have detected a new pessimism in recent Mogambo Guru newsletters, not to mention a serious decline in writing quality and a big increase in Valueless Mogambo Stupidity (VMS), which they cheerfully enlighten me about with emails such as...
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news.goldseek.com >> 10 April 2009 |
“We the People” Who Prefer Deflation
By: Richard Daughty, The Mogambo Guru
Patrick J. Buchanan, writing at amconmag.com, asks “Should We Kill the Fed?” which is such a good idea that I herewith volunteer to forthwith do the job as soon as my embarrassingly huge salary and benefit package is finalized.
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news.goldseek.com >> 9 April 2009 |
Employed and Unemployed Both Feel the Pinch
By: Richard Daughty, The MOGAMBO GURU
It ain’t really news that employment is falling along with the economy falling off a cliff because everybody is up to their freaking eyebrows in debt and people and businesses are naturally reluctant to be rushing out to borrow more money will-nilly to spend more, and more, on more and more Cheap Consumer Crap (CCC), and businesses sure don’t need a lot of employees to make or sell less stuff.
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news.goldseek.com >> 8 April 2009 |
No Gold. No Silver. Just Inflation and Hotcakes.
By: Richard Daughty, The MOGAMBO GURU
I’ll bet that if the foreign exchange markets don’t know that the currency of a nation of fiscal and monetary idiots was “a negative for currencies”, then I guess that they also don’t know that gold and silver, when priced in the currencies of fiscal and monetary idiots, will soar as the currency falls in buying power, which is so elementary that I am shocked that they are that stupid!
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news.goldseek.com >> 7 April 2009 |
Useless Currencies of the World Unite!
By: Richard Daughty, The Mogambo Guru
My brain went into some kind of weird spasm when Zhou Xiaochaun, head of the People’s Bank of China, went on record as saying that he doesn’t trust the dollar to be the world’s reserve currency anymore, and wants, instead of gold, the International Monetary Fund to expand the supply of Special Drawing Rights (SDRs), which is just another stupid fiat currency, to use as the world’s reserve currency! Gaaahhhh!
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news.goldseek.com >> 5 April 2009 |
No Debt Left Behind
By: Richard Daughty, The Mogambo Guru
Over at Whiskey & Gunpowder, an essay by Don Stott of coloradogold.com reveals that we are more alike than we thought, in that he, too, is “astonished at the credulity and unabashed total economic illiteracy of the American and even the world’s public. We’re headed for hyperinflation, with prices of everything going through the roof, and America is buying stocks rather than gold and silver?”
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news.goldseek.com >> 3 April 2009 |
Dinosaur Economists and their Paper Currency
By: Richard Daughty, The MOGAMBO GURU
It all seems so weirdly surreal when federal deficit-spending exceeds 14% of GDP, which doesn’t even include the 7% of GDP that is the “balanced part” of the federal government’s budget!
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news.goldseek.com >> 2 April 2009 |
The Foul Stench of Rotten Economic Theory
By: Richard Daughty, The MOGAMBO GURU
I am known throughout this galaxy as a guy who “gets things done” with the still-experimental Mogambo Insulting Method Of Pedantry (MIMOP), whereby I instruct pupils in the subtleties of the True Mogambo Way (TMW) by insulting them, mostly by easily ridiculing their intelligence by merely casually noting that none of them own gold and silver...
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news.goldseek.com >> 1 April 2009 |
Credit-Based Money System and the Plight of Un-rich Peons
By: Richard Daughty, The MOGAMBO GURU
George Ure of UrbanSurvival.com writes that the magic of just pounding money into the economy doesn’t seem to be working this time, and it reminds him of “the old engineering/design flow-chart joke that went around about 20-years back that had a place in the engineering process labeled ‘Insert Miracle Here’.” Hahaha! Good one!
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news.goldseek.com >> 31 March 2009 |
Gasoline on the Money Supply Fire
By: Richard Daughty, The MOGAMBO GURU
Agora Financial’s 5-Minute Forecast conveniently distills the Truly Horrifying News (THN) of recent Federal Reserve action by saying, “In a single breath, the Fed committed another $1.15 trillion to the credit quagmire” with “$750 billion for purchasing mortgage-backed securities from Fannie Mae and Freddie Mac (on top of the $500 billion the Fed has already promised)” plus “Another $100 billion directly toward Fannie and Freddie’s debt. That’s also atop a pre-existing $100 billion program.”
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news.goldseek.com >> 30 March 2009 |
U.S. Government Buys Hypocrisy With Fiat Currency
By: Richard Daughty, The MOGAMBO GURU
Doug Noland of PrudentBear.com has found all kinds of interesting things this week, especially if you enjoy heart palpitations and crushing chest pains, which is what you get when you read Mr. Noland reporting that “The M2 (narrow) ‘money’ supply surged $39.8bn to a record $8.343 TN (week of 3/9)” which means, “Narrow ‘money’ has now inflated at an 18% rate over the past 25 weeks and $766bn over the past year, or 10.1%”! Yikes!
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news.goldseek.com >> 22 March 2009 |
Quantitatively Easing into a Stupid Idea
By: Richard Daughty, The Mogambo Guru
The most popular question that I get asked these days is still the perennial favorite, “Is there something wrong with you that makes you sound stupid?” (Answer: yes), but the second most popular question is, “What’s next?” to which I reply, “Time for dessert! And if not, then time for a snack of high sugar and low nutritional value of some sort! And ditto a beverage!”
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news.goldseek.com >> 20 March 2009 |
Solid Gold Advice for Chinese Economists
By: Richard Daughty, The MOGAMBO GURU
In case Mr. Wen Jaibao wants to know how much of a rise in price inflation that will follow such a rise in the money supply, I will tell him, “I have no idea, but (in keeping with mixing up Eastern philosophies with religions), I have a riddle for you, Wen, baby: ‘What is the sound of one hand clapping when the hand is burned to a cinder with two red-hot pokers instead of just one red-hot poker?’“
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news.goldseek.com >> 19 March 2009 |
Stupid Ideas that Drag Down Consumer Spending
By: Richard Daughty, The Mogambo Guru
We have, I assume, entered into some kind of parallel universe, mental illness, bizarro-world Economic Stimulus Package From Hell (ESPFH) that makes me howl in paralyzing fear, shouting “This can’t be happening! We’re freaking doomed!”
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news.goldseek.com >> 18 March 2009 |
There’s No Place Like Gold
By: Richard Daughty, The Mogambo Guru
I was captivated by the Wall Street Journal headline “Bearish Big Investors Catch Gold Bug” by Gregory Zuckerman, because I don’t ever expect to see anything favorable about gold in the WSJ since it is concerned primarily with providing information and news about stocks and bonds so that you will be motivated to constantly buy and sell stocks and bonds.
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news.goldseek.com >> 17 March 2009 |
The End of the Dividend Fallout
By: Richard Daughty, The Mogambo Guru
There are a lot of stockholders who buy stocks for the dividends that they pay, which is supposed to be one of THE major reasons why people buy stocks in the first place, and it makes sense… Why would you buy a business if you never got any money out of it?
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news.goldseek.com >> 15 March 2009 |
‘Going Galt’ is a Futile Fad
By: Richard Daughty, The Mogambo Guru
So, if you think that the federal government needs your stupid tax money or that you can hurt them by working less, then I laugh – Hahahaha! – at the very concept! The Fed can, literally, create unlimited amounts of credit in the banks, which becomes unlimited amounts of money, with which to buy unlimited amounts of Treasury debt so that the government can spend unlimited more amounts of money than it collects in taxes!
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news.goldseek.com >> 13 March 2009 |
Trade Deficit Steals Private Sector’s Wallet
By: Richard Daughty, The Mogambo Guru
I was at the bar, having a social drink and explaining to the usual crowd of drunken morons how the Federal Reserve has destroyed the purchasing power of the dollar by their insane over-creation of money and credit and that is why things always cost more and more, when the room started spinning and my head suddenly fell forward in a drunken coma.
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news.goldseek.com >> 12 March 2009 |
Nowhere at Best – Wiped Out at Worst
By: Richard Daughty, The MOGAMBO GURU
The Bureau of Labor Statistics of the U.S. Department of Labor came out and confirmed what everybody already knew; people are losing their jobs at a terrifying clip – which makes me wonder how long it will be before I get fired, too, and I wish that I had more gold, silver, oil and armaments with which to ward off those people who do NOT have gold, silver and oil...
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news.goldseek.com >> 11 March 2009 |
Attack of the Debt Mobs
By: Richard Daughty, The MOGAMBO GURU
I am so outraged at this that I say we ought to rise up in outrage and rush to our telephones, where operators are standing by to take your order for “Mogambo Brand” Mob Supplies (MBMS), including not only the popular Mogambo Flaming Torch (MFT) and Mogambo Long-Tine Pitchfork (MLTP)...
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news.goldseek.com >> 10 March 2009 |
Dividend Drop-Off: When Cushions Turn to Rocks
By: Richard Daughty, The MOGAMBO GURU
I thought that my eyes were playing tricks on me, but it looked like the earnings of the S&P Industrials Index went down last week, plummeting to $65.86 from $85.90 the week before, all of which probably explains why the Wall Street Journal reports that railroads “have seen shipping volumes drop by double-digit percentages in recent months”, and that “the nation’s five largest railroads have put more than 30% of their boxcars – 206,000 in all – into storage.” Yikes! A third less volume!
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news.goldseek.com >> 8 March 2009 |
Neo-Keynesians Draw Laughter from Surrounding Planets
By: Richard Daughty, The Mogambo Guru
The bad news is that the National Association of REALTORS announced that existing-home sales plunged 5.3% in January, and that, even more worrisome, 45% of the houses sold were of “distressed properties.”
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news.goldseek.com >> 6 March 2009 |
Golden Butter on Inflation Toasted Dollars
By: Richard Daughty, The Mogambo Guru
There are obviously a lot of differences between me and damned near everybody else, one of which is that I spend a lot of time screaming in outrage about the stupidities of Congress (spendthrift morons and their half-witted commie/socialist absurdities) and the Federal Reserve (for creating too much money and credit, with which to buy the Treasury debt necessitated by Congress’s continual, crazy, catastrophic deficit-spending).
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news.goldseek.com >> 5 March 2009 |
The U.S. Financial System: A Flimsy House of Paper Promises
By: Richard Daughty, The MOGAMBO GURU
Junior Mogambo Ranger (JMR) Phil S. sent me the essay titled “Government: A Successful Failure” by Robert Anderson, erstwhile professor of economics at Hillsdale College and executive secretary of FEE, and posted at LewRockwell.com.
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news.goldseek.com >> 4 March 2009 |
U.S. Taxpayers: The Few. The Proud. The Unprofitable.
By: Richard Daughty, The MOGAMBO GURU
There are many things that scare me in this world, but none is more horrendous than the short extrapolation that came out a few years after government debt went from 78% of GDP in one year to 100% the next.
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news.goldseek.com >> 3 March 2009 |
A Government of Spendaholics
By: Richard Daughty, The MOGAMBO GURU
The catastrophe of such a thing like that happening kind of dazed me with a sort of petrifying fear, and the next thing I knew they were talking about the federal budget deficit, too, and that the deficit for 2009 “is now estimated at between $2 trillion and $3 trillion, give or take a few hundred billion.”
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news.goldseek.com >> 1 March 2009 |
Confidence in Asian Benevolence
By: Richard Daughty, The Mogambo Guru
The Conference Board’s index of consumer confidence declined to the lowest level since they started collecting data in 1967, which is why Bloomberg.com reported that “Confidence among U.S. consumers plunged to a record low in February, signaling spending will slump further as unemployment soars.”
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news.goldseek.com >> 27 February 2009 |
Optimism in the Face of Inflation
By: Richard Daughty, The MOGAMBO GURU
I thought I was still asleep and merely dreaming when I opened up Barron’s and saw that the earnings of the S&P 500 dropped to $28.75, which is down from last week’s $45.95, which is down from last year’s $78.80.
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news.goldseek.com >> 26 February 2009 |
Go Ahead, Make My Money
By: Richard Daughty, The MOGAMBO GURU
Total Fed Credit, otherwise known as Federal Reserve Credit, ballooned by a huge $76.9 billion last week, taking the Fed’s total “help” to the scumbag banks to a nice, cool $1.9 trillion, of which a whopping $56 billion gob of the money created last week by the Fed was used by the Fed itself to buy Treasury securities for itself! Hahaha! What a scam!
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news.goldseek.com >> 25 February 2009 |
The Devastating Chaos of Financial Butterflies
By: Richard Daughty, The Mogambo Guru
Gerald Celente, founder and director of the Trends Research Institute opines, “To be using 1930s models to get the U.S. out of this is really stupid. Back then when we first crashed, most people didn’t have homes. There was no such thing as home equity loan. And back then, people didn’t have credit cards. The consumer wasn’t 14 trillion dollars in debt. We had a manufacturing base that built the world out of the Great Depression following World War Two. We no longer have that.”
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news.goldseek.com >> 24 February 2009 |
Gold in the Art of Bread Consumption
By: Richard Daughty, The MOGAMBO GURU
And with universal participation, because all currencies will fall due to over-issuance, everybody in the whole world is going to jealously watch their neighbors and relatives making profits by buying gold and holding it against the guaranteed loss of buying power of their money! Wow! Everybody in the world!
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news.goldseek.com >> 22 February 2009 |
Gold: Finding Honest Money in the Midwest
By: Richard Daughty, The MOGAMBO GURU
An article by Ambrose Evans-Pritchard in the Telegraph had the headline, “If Eastern Europe falls, world is next”, which I take to be a new domino theory, as the domino theories I am used to, run along the lines of, “If anything happens to America, everybody else is freaking toast!” and the more personal, “If anything happens to the cookies in my lunchbox, Mogambo, you are a dead man!”
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news.goldseek.com >> 20 February 2009 |
Chinese Fiat Coupons
By: Richard Daughty, The MOGAMBO GURU
An easy way to increase the money supply is by counterfeiting money, or its equivalent, by printing coupons, and this is now being done by the Chinese, as we learn from the report titled “Chinese Offered Consumer Tickets” by Olivia Chung at atimes.com.
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news.goldseek.com >> 19 February 2009 |
The Government-Based Economy
By: Richard Daughty, The MOGAMBO GURU
Using my time constructively, I am standing here, still seething about the corruption of the Congress and the Federal Reserve and plotting my revenge as I wait for him to take his argument to the next step and say that since we have a fiat currency, a corrupt Congress and a complicit Federal Reserve, then let’s really get this thing in gear!
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news.goldseek.com >> 18 February 2009 |
Financial Contracts and the Lying Liars Who Create Them
By: Richard Daughty, The Mogambo Guru
The Economist magazine innocently asks, “Why is finance so unstable?” Immediately, I jump to my feet to scream my guts out that, “It’s because the amount of corruption is, like it always is at the end of long booms, completely off the freaking charts, and nothing is as it seems; everybody is lying to you; everybody is trying to steal your identity and you are being ripped off every freaking day, in countless ways, by corrupt thieving morons in government who are so, so desperate at this point that they are resorting to insanity!”
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news.goldseek.com >> 17 February 2009 |
An Edifice of Pure Economic Crapola
By: Richard Daughty, The MOGAMBO GURU
Benn Steil, who is on the Council of Foreign Relations and an editor of an economics journal, is writing in the Financial Times, see, and his essay has the catchy headline “Keynes and the Triumph of Hope over Economics”, which is so terrifically profound and funny at the same time that I laughed out loud, which was unfortunate, as I had just taken a big bite of a yummy chilidog and it sprayed all over the place as a result of my mighty guffaw.
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news.goldseek.com >> 16 February 2009 |
Buy American: Protection From Yourself
By: Richard Daughty, The Mogambo Guru
Unbelievably, the abject stupidity of protectionism, in this case the so-called “Buy American” protectionism, is now resurfacing after all these decades of everything “going global” so that now the stupidity of protectionism is even more glaringly stupid since the globe has grown into a huge, incestuous, corrupt labyrinth interwoven with...
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news.goldseek.com >> 14 February 2009 |
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
A Sobering Look at Gold Investing
By: Richard Daughty, The MOGAMBO GURU
I looked around the barroom and said, “The gold exchange on the Comex is a den of lying, thieving, corrupt bastards who are in cahoots with the lying, thieving, corrupt banks and the lying, thieving, corrupt government!”
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news.goldseek.com >> 13 February 2009 |
SOS: Suffocating On Spending
By: Richard Daughty, The MOGAMBO GURU
Voluminous police reports through the years chronicle my wailing and screaming in fear, often far into the night, as neighbors and family complain until the police come by the house in their squad cars to investigate, like I am so stupid that I don’t know enough to shut up when I see them coming! Morons!
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news.goldseek.com >> 12 February 2009 |
Silver and Gold Will Make You More Attractive
By: Richard Daughty, The MOGAMBO GURU
SilverForecaster.com announces that “silver has done well” recently, as far as its price is concerned, which is almost certainly explained by the old demand-versus-supply market-clearing pricing mechanism, which means that since the price went up, then demand must be up, too, and more than supply is up; or it means that supply is down more than demand is down; or it means something else entirely, maybe, since I have seemingly confused myself.
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news.goldseek.com >> 11 February 2009 |
Don’t Pay Your Debt: A Page from the Fed’s Playbook
By: Richard Daughty, The MOGAMBO GURU
Frosty Wooldridge, writing at NewsWithViews.com, has the same kind of attitude I do, and has titled a recent essay, in all-capital letters, “BAILOUTS: A COMPLETE FRAUD AGAINST THE AMERICAN WORKER” which is certainly attention-getting… But, alas, lacks the requisite proper punctuation, which in this case I judge to be two exclamation points, at least. Probably three.
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news.goldseek.com >> 8 February 2009 |
Unemployment Figures, Right Between the Eyes
By: Richard Daughty, The Mogambo Guru
So the Big Freaking Question (BFQ) is: How long before the hyperinflationary phase about which I have been yammering begins – bringing back up the prices of stocks, bonds and houses so that the moronic government can once again wallow in a sea of tax receipts? Hahahaha!
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news.goldseek.com >> 6 February 2009 |
Inflation Took My Medication
By: Richard Daughty, The MOGAMBO GURU
The Harper’s Index had the interesting entry, “Percentage by which the $750 billion bailout exceeds the total U.S. GDP of a century ago, adjusted for inflation: 50.” Naturally, I am confused as to what in the hell this actually means since there are so many variables, including traveling through time, and it looks like it means that the GDP of a century ago was an inflation-adjusted $500 billion, but that involves math, and so I can’t be sure of anything.
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news.goldseek.com >> 5 February 2009 |
U.S. Recession: Is the End Nigh?
By: Richard Daughty, The MOGAMBO GURU
Frank Holmes at USFunds.com writes, “When it comes to the global economy, there’s a huge surplus of bad news and there’s a good chance that more is coming” – so much so that “Positive indicators are in short supply” which he qualifies by saying, “but there’s a good chance that more of these are coming, too.”
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news.goldseek.com >> 4 February 2009 |
Sound Money Falls on Deaf Paper Ears
By: Richard Daughty, The MOGAMBO GURU
James Turk of GoldMoney.com has penned “Restoring Sound Money in America”, which makes me cry out in despair when one considers the fraud of the Federal Reserve’s constantly increasing amounts of fiat currency and credit, a corrupt and complicit Congress that condones it, a despicable Supreme Court which allows it all (by negating Article 1, Section 10 of the Constitution mandating that gold will be money), and the legions of people (Wall Street, Congress and the bankers) to whom a sound, non-inflating currency means the end of their loathsome, corrupt businesses and speculative excesses.
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news.goldseek.com >> 3 February 2009 |
Retail Sales Gobbledy-Gook
By: Richard Daughty, The MOGAMBO GURU
From census.gov we get the news that retail and food services sales were down a huge 2.7% in December compared with sales in November, and sales were down “9.8 percent below December 2007.”
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news.goldseek.com >> 1 February 2009 |
Deficit Spending and the Credit You Rode In On
By: Richard Daughty, The Mogambo Guru
The AP news service reports that “The federal government already has run up a record deficit of $485.2 billion in just the first three months of the current budget year”, which is “more than four times the $108.8 billion in red ink recorded during the year-ago period.”
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news.goldseek.com >> 30 January 2009 |
Debt-Addled Coconuts on Gilligan’s Island
By: Richard Daughty, The MOGAMBO GURU
I was halfway through a pitcher of cheap beer when I began to have visions. I thought that a pretty girl at the end of the bar was flirting with me, but that turned out to be wrong when I heard her tell the bartender that she thought I was “creepy.”
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news.goldseek.com >> 29 January 2009 |
Money Creation, Tim Geithner and the Thin Air in Between
By: Richard Daughty, The MOGAMBO GURU
There was a photo of Tim Geithner, the former Governor of the Federal Reserve Bank of New York who is going to be the next Treasury Secretary of the USA, on the front page of the Financial Times last Thursday, and it is spooky in several ways.
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news.goldseek.com >> 28 January 2009 |
Bad News For Those Who Like Food
By: Richard Daughty, The MOGAMBO GURU
Always being on the lookout for inflation is part of The Mogambo Way (TMW), as there is nothing else that can destroy a society faster than a lot of angry people who cannot afford to buy food for themselves or their hungry children, and after awhile the incessant whining and crying of hungry babies gets on the nerves of the adults both in the room and for blocks around until, suddenly, one day, something just snaps and there is Hell To Pay (HTP).
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news.goldseek.com >> 27 January 2009 |
Patching Up the World With Golden Glue
By: Richard Daughty, The Mogambo Guru
The word 'Gaaaahhh!' escapes my throat, as all of this was BEFORE all the new promises of massive new deficit spending! Trillions of dollars of federal deficit spending per year, for years and years and years into the future! Again, 'Gaaaahhh!'
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news.goldseek.com >> 25 January 2009 |
Canceling the Debts of Greedy Pigs
By: Richard Daughty, The Mogambo Guru
In this case, the debts of greedy pigs are being cancelled by the government giving them their money back by buying worthless assets, a scam wherein we define the term 'greedy pigs' as 'all of us.'
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news.goldseek.com >> 23 January 2009 |
Shining Your Bank Account with a Liquidity Buffer
By: Richard Daughty, The MOGAMBO GURU
'Strategic priorities' are, of course, 'Keeping this thing going as long as possible so that I can keep this job where I spend a lot of my time goofing off and finagling to get the most money and benefits for myself', but what is a 'liquidity buffer'?
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news.goldseek.com >> 22 January 2009 |
Golden Eggs in the Hard Times Cafe
By: Richard Daughty, The MOGAMBO GURU
It took a moment for it to sink in that things are going to be 'hard', and that we will have to 'do right' to prove our character. When it did, I thought to myself, 'It's worse than we thought! We're freaking doomed!'
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news.goldseek.com >> 21 January 2009 |
Golden Sanity Amid Fits of Fiscal Madness
By: Richard Daughty, The MOGAMBO GURU
And as the bust continues, gold always becomes MORE valuable as everything else turns to crap and the government starts destroying everything with fits of fiscal madness in its insatiable quest for more money, more money, more money!
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news.goldseek.com >> 20 January 2009 |
A World of Financial Freeloaders
By: Richard Daughty, The MOGAMBO GURU
And then, as another benefit of giving money to people, I thought of older people who've had their damned grown children move 'back home' to live with them, all crammed into the one house, sometimes dragging their kids along…
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news.goldseek.com >> 18 January 2009 |
Government Gone Insane
By: Richard Daughty, The Mogambo Guru
It's just too bad that government workers are a deadweight loss, as they produce no profit from their labors with which to pay their bloated salary and benefits packages, and they produce profit-lowering costs for those who must obey their commands, sort of a lose-lose situation.
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news.goldseek.com >> 16 January 2009 |
What Can You Buy With 50 Billion Zimbabwe Dollars?
By: Richard Daughty, The MOGAMBO GURU
The biggest banknote in Zimbabwe is worth only enough to buy two lousy, stinking loaves of bread! Fifty billion Zimbabwe dollars for two loaves of bread!
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news.goldseek.com >> 15 January 2009 |
No Taxation Without Inflation
By: Richard Daughty, The MOGAMBO GURU
In the meantime, if you are like me - who is like Peter Finch's character in the movie Network - then you are either at, or near the point where you are standing in the street, screaming, 'I am as mad as hell and I'm not going to take this anymore!'
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news.goldseek.com >> 14 January 2009 |
There's Always Opportunity in Crisis
By: Richard Daughty, The MOGAMBO GURU
I know there is opportunity, just like I know you ruined my life! That is why I am buying gold, silver and oil at these ridiculously low prices, so that when they soar…I will be rich, rich, rich!
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news.goldseek.com >> 13 January 2009 |
The Troubled Asset Pension Fund
By: Richard Daughty, The MOGAMBO GURU
I hastily scrapped all the other 'it ain't my fault' defenses…and now…I immediately declared my little department to be a bank, and plowed all of the employee pension fund money into it as shareholders of the bank.
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news.goldseek.com >> 11 January 2009 |
World Record Debt! Somebody Call Guinness!
By: Richard Daughty, The MOGAMBO GURU
But this new spending is, of course, entirely predictable, as this is what has always been done by all other bankrupt, brain-dead corrupt governments on this planet in the past 4,500 years that had racked up so much debt that they collapsed.
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news.goldseek.com >> 9 January 2009 |
Interest Rates Have "One Too Many"
By: Richard Daughty, The MOGAMBO GURU
Apparently, the horrifying news of negative interest rates does not register with these morons; the bartender went back to talking to the pretty girl at the end of the bar, and the other barfly customers were flipping those little beer-stained cardboard coasters at me saying, 'Shut up!'
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news.goldseek.com >> 8 January 2009 |
The U.S. Dollar: A Federal Reserve Thingy
By: Richard Daughty, The MOGAMBO GURU
And this, together with the economic disaster that is already out there, only proves the utter, utter failure of the Federal Reserve to 'preserve the value of the dollar', which is their freaking mission in life. Morons!
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news.goldseek.com >> 7 January 2009 |
Fed Refuses to Trade Secrets
By: Richard Daughty, The MOGAMBO GURU
Unfortunately, while I am exactly like the Federal Reserve in that we are both total, complete failures at our jobs, mostly through sheer stupidity, the repercussions are quite different.
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news.goldseek.com >> 6 January 2009 |
Steady Diet of Chinese Currency
By: Richard Daughty, The MOGAMBO GURU
Well, egg rolls or not, pretty soon everybody is going to have more egg rolls, as the Chinese are engaging in massive stimulus spending, too, just like we and everyone else are…
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news.goldseek.com >> 4 January 2009 |
Fixing the Unemployment Outlook
By: Richard Daughty, The Mogambo Guru
Hell, at that rate, I'll personally hire 5 or 6 people right now, full-time, to get my yard, trees and shrubberies in shape, wash and wax the cars, and do all of that fixing, painting and replacing of broken, leaking or noisy crap around the house…
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news.goldseek.com >> 2 January 2009 |
Silver Runs for Sanitation Commissioner
By: Richard Daughty, The Mogambo Guru
The good news is not only that I don't own any public facilities that have garbage disposal or HVAC liabilities, but also that both of these nightmares are solvable by silver, which is already in less supply than the demand can satisfy…
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news.goldseek.com >> 31 December 2008 |
No Lag When Indicating Inflation
By: Richard Daughty, The Mogambo Guru
And the reason is that the Lagging Indictor with its inflation detector attributes has been rising faster than the other two for as long as I can remember without doing the actual work to look it up.
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news.goldseek.com >> 30 December 2008 |
Illustrating How the Dollar Gets Whacked
By: Richard Daughty, The Mogambo Guru
In the last 7 years, the dollar has fallen 33% according to the dollar index, which has fallen from 120 to 80, which is actually up as the dollar has exploded back 15%, rising from 72 to 83, in the year.
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news.goldseek.com >> 26 December 2008 |
A Government of People-Eaters
By: Richard Daughty, The Mogambo Guru
And it is especially worrisome now that the government's monumental Social Security, Medicare and Prescription Drug Coverage problems would be solved if all of us old people suddenly died.
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news.goldseek.com >> 24 December 2008 |
Loaned, Sold, and Gone… But Still Owned
By: Richard Daughty, The Mogambo Guru
I realize, too late, that accounting was not the long suit of the audience, so I say, 'The guy to whom you loaned your car turned around and sold your car, kept the money, and you still think that you have the car? Hahahaha!'
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news.goldseek.com >> 23 December 2008 |
A Novel Approach to Debt Management
By: Richard Daughty, The Mogambo Guru
What? A $2 trillion federal budget deficit? In a $13 trillion national economy? Gaaahhhh! When the trade deficit is running at almost $900 billion a year? Double gaaahhhhh!
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news.goldseek.com >> 21 December 2008 |
Economic Pseudoscience
By: Richard Daughty, The Mogambo Guru
So, since all the world's currencies are now fiat currencies, and they can all be easily inflated by infinite amounts until they are as worthless as a Zimbabwean dollar, thus they are all equally as safe and ultimately as valuable, too!
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news.goldseek.com >> 19 December 2008 |
Are You Smarter than a Bond Trader?
By: Richard Daughty, The MOGAMBO GURU
Pardon me for interrupting today's Stupid Mogambo Rant (SMR) with my laughing…but every time I think of some bozo buying 30-year Treasury debt at a price that is so high that the bond then yields a teensy-weensy 3% or so for 30 freaking years, I have to laugh when I think of such blinding stupidity!
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news.goldseek.com >> 18 December 2008 |
Collapse and Ruination from Gluttonous Growth
By: Richard Daughty, The MOGAMBO GURU
If $2.8 trillion has been lost, then how much of this lost money that came into existence when it was first borrowed from a bank, is still owed to a bank? Or the shadow banking system?
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news.goldseek.com >> 17 December 2008 |
No Rest for the Unemployed
By: Richard Daughty, The Mogambo Guru
Oddly enough, there is no statistical offset for people like me, who are the nation's over-employed, which is to say we are chronically lazy, worthless and undependable louts who SHOULD be unemployed, but who actually have jobs!
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news.goldseek.com >> 16 December 2008 |
Markets Get an 'F' in P/E
By: Richard Daughty, The MOGAMBO GURU
Anyway, the point is that this current Price-to-Earnings ratio of 19 for the S&P 500 index is so high…that it is still near where the market soon started down in a huge bear market, and is still high even after losing half its value! I'm scared!
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news.goldseek.com >> 14 December 2008 |
Inflation: How Low is Too Low?
By: Richard Daughty, The Mogambo Guru
So how low is this 'low' inflation rate that will allow the cutting of interest rates even though inflation is still positive? Well, it is now 2.1%, which has just fallen from 3.2%, and 2% inflation is the ECB's target! 'Inflation falling too low'! Hahahaha!
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news.goldseek.com >> 12 December 2008 |
It's Always About the Money
By: Richard Daughty, The MOGAMBO GURU
'It is always about the money!' for me, and you are hoping that I will use my dictatorial powers to get your money back for you, again proving that 'It is always about the money!' with you, too! Hahaha!
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news.goldseek.com >> 11 December 2008 |
Emperor of the Gold Cartel
By: Richard Daughty, The Mogambo Guru
Yeah! Emperor! That's it! Taking over the world where I could dispatch armies of bad-tempered underlings to fetch Alan Greenspan and ferret out all the people who aided and abetted him all those years, like this Bernanke creep, and bring them all to me!
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news.goldseek.com >> 10 December 2008 |
Officially Screwed by the Real Inflation Rate
By: Richard Daughty, The MOGAMBO GURU
Screw the 'official' inflation rate! But let's not dwell on an inflation rate of 20 percent, which means that prices will double in about three and a half years, because that kind of inflationary mayhem is the stuff of which revolutions, economic ruination and Embarrassing Mogambo Episodes (EME) are made! Yikes!
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news.goldseek.com >> 9 December 2008 |
The $85 Billion Non-Event
By: Richard Daughty, The MOGAMBO GURU
But yet this huge reduction of $85 billion in a week is, somehow, a non-event, even when considering that the Fed has doubled the stock of fabled High Powered Money to over $2 trillion in just the last couple of months! Beyond astonishing!
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news.goldseek.com >> 7 December 2008 |
U.S. Hyperinflation Right Around the Corner?
By: Richard Daughty, The Mogambo Guru
Hell, everybody with any brains knows that if the government keeps creating more and more money and credit, then consumer prices will rise exponentially and the economy will be ruined, just like Zimbabwe today…
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news.goldseek.com >> 5 December 2008 |
Wearing Shorts in an Economic Winter
By: Richard Daughty, The Mogambo Guru
You want me to take the other side of your short by going long, even though the market is down, and has been going down, and every freaking technical indicator that anyone has ever thought up says the market will continue going down? Hahahaha!
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news.goldseek.com >> 4 December 2008 |
Tax Revenue Fails to Deliver
By: Richard Daughty, The MOGAMBO GURU
The worse news, from the standpoint of a whole cornucopia of governments and taxing authorities that have sprung into being over the last 40 years, is that these kinds of 'fails to deliver' things are losses, and losses are deductible against taxable gains…
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news.goldseek.com >> 3 December 2008 |
A Hitchhiker's Guide to Under-Priced Oil
By: Richard Daughty, The Mogambo Guru
Now I can afford to cruise the streets looking for hitchhikers, so that I can give them a ride while I explain to them, 'Hey, kid! Did you know that money is created by debt nowadays? It is!'
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news.goldseek.com >> 2 December 2008 |
Laughable "Loans" to Prevent the Bust
By: Richard Daughty, The Mogambo Guru
I have some bad news for the U.S. government; the taxpayers are not prepared to loan anything to anybody! Hell, total debt-to-GDP is over 350% already, maybe 450%, which is, either way, the highest, by far, of anything I've seen in U.S. history…
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news.goldseek.com >> 26 November 2008 |
Salvation in the Cheap Oil Army
By: Richard Daughty, The MOGAMBO GURU
And, as the news just keeps getting worse, Iran just asked OPEC to cut production by a further 1.5 million barrels per day, which comes just after OPEC cut production by 1.5 million barrels last month! Yikes!
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news.goldseek.com >> 25 November 2008 |
Roasting G-20 Weenies on a Golden Spit
By: Richard Daughty, The MOGAMBO GURU
As with my own future, Big Bad Things (BBT) are coming with regards to the value of the dollar and these G-20 weenies. And since simple prose seems so inadequate at a time like this, I give you a Mogambo Economic Poem (MEP)…
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news.goldseek.com >> 23 November 2008 |
Finance…the American Way
By: Richard Daughty, The MOGAMBO GURU
Hey! Deficit spending like profligate morons while running around the world taking what we want and killing anybody that gets in our way characterizes The American Way! You are proposing to destroy our native culture, you insensitive, genocidal, racist bastards!
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news.goldseek.com >> 21 November 2008 |
Corporate Earnings Go Cliff Diving
By: Richard Daughty, The MOGAMBO GURU
I run to the tables in Barron's, and I see that the earnings of the S&P500 - the 500 biggest corporations in the country - went down again last week to $46.10 from $51.37, a drop of about 10%!
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news.goldseek.com >> 20 November 2008 |
Fed Up With Fed Credit
By: Richard Daughty, The MOGAMBO GURU
I gasp in amazement that the total sum of Fed-supplied credit to the banks, accumulated bit by bit since the Fed was founded in 1913, totals $2.19 trillion, more than half of which was added in the last 9 weeks alone! Hahaha! We are so freaking doomed!
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news.goldseek.com >> 19 November 2008 |
When Inflation Comes a-Knockin'
By: Richard Daughty, The MOGAMBO GURU
Buy gold, silver and oil as fast as you can, you morons, or die a horrible death by inflation like the people of Zimbabwe!
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news.goldseek.com >> 18 November 2008 |
The Governmental Gong Show
By: Richard Daughty, The MOGAMBO GURU
I have two objections to this crap, one being that the People's Daily is wrong; the United States did NOT 'plunder' anybody; rather, the U.S. just took advantage of a bunch of ignorant rubes and hustled them out of their money!
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news.goldseek.com >> 16 November 2008 |
Shielding the World from Financial Folly
By: Richard Daughty, The MOGAMBO GURU
Apart from the fact that the English philosopher Herbert Spencer said, 'The ultimate result of shielding men from the effects of folly is to fill the world with fools', the joke is actually on me, as these Asian investors actually think that they deserve compensation for their stupidity by using the stupidity of us Americans as a model…
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news.goldseek.com >> 14 November 2008 |
Debt Clock Runs on Borrowed Time
By: Richard Daughty, The Mogambo Guru
And this time in history we have gone one step farther down the path of True Economic Insanity (TEI) in that we not only created and spent all that money on gluttonous consumption, but we borrowed it all into existence, too! Hahaha!
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news.goldseek.com >> 13 November 2008 |
Debt Clock Runs on Borrowed Time
By: Richard Daughty, The MOGAMBO GURU
And this time in history we have gone one step farther down the path of True Economic Insanity (TEI) in that we not only created and spent all that money on gluttonous consumption, but we borrowed it all into existence, too! Hahaha!
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news.goldseek.com >> 12 November 2008 |
Wounded Wolves on the Financial Prairie
By: Richard Daughty, The Mogambo Guru
I assume that bond buyers are all drug addicts who are not aware of what they are doing, morons who are not aware of what they are doing, or grubby slicksters who are buying them on behalf of drug addicts and morons! Hahaha!
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news.goldseek.com >> 11 November 2008 |
Wounded Wolves on the Financial Prairie
By: Richard Daughty, The MOGAMBO GURU
I assume that bond buyers are all drug addicts who are not aware of what they are doing, morons who are not aware of what they are doing, or grubby slicksters who are buying them on behalf of drug addicts and morons! Hahaha!
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news.goldseek.com >> 7 November 2008 |
The Incredible Growing Government
By: Richard Daughty, The Mogambo Guru
And now that the governments of America have literally become the economy (and paying themselves handsomely in the process!), there is no way that the government can be allowed to shrink…
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news.goldseek.com >> 6 November 2008 |
Hiding Under a Golden Rock
By: Richard Daughty, The MOGAMBO GURU
This horror again reminds me of Ure's Disease, which is clinically described above as 'the onset of sudden sobriety and the realization that there really may be nowhere to hide', which is why gold always rises at the realization that there truly is 'nowhere to hide' except in gold (and silver), as everything else is down as much, or more!
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news.goldseek.com >> 5 November 2008 |
Inflationary Record Book
By: Richard Daughty, The Mogambo Guru
With inflation in prices running at more than 10%, and inflation in credit running at up to 100% and more, bond investors are getting the lowest yield in half a freaking century? Hahahaha! Morons!
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news.goldseek.com >> 4 November 2008 |
No Soothing Salve for Economic Ills
By: Richard Daughty, The MOGAMBO GURU
I agree with this only because there IS no soothing salve for the globe's economic ills with which to effect a cure, which means that there is no economic 'solution' to over-indebtedness and governmental stupidity that does not involve incredible pain…
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news.goldseek.com >> 2 November 2008 |
Nightmares of Financial Misery
By: Richard Daughty, The MOGAMBO GURU
But this monetary expansion thing is the stuff of nightmares, too, and one day soon you will wake up screaming in the middle of the night, bathed in sweat, jolted out of a nightmare of financial misery and suffering that is all but unimaginable…
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news.goldseek.com >> 31 October 2008 |
Gold, Faith and Credit
By: Richard Daughty, The MOGAMBO GURU
But now these investors get (probably at best!) their money back; and probably only then after years of legal wrangling where the lawyers end up with most of the money anyway! Hahahaha! Welcome to the full faith and credit of American markets!
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news.goldseek.com >> 30 October 2008 |
A Bull in a Silver Shop
By: Richard Daughty, The Mogambo Guru
More than one-seventh of all the silver bullion 'thought to exist' in the whole world was suddenly bought up in less than a year, and yet the price of silver has been pounded down to less than 10 bucks an ounce? No wonder I am so bullish on silver!
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news.goldseek.com >> 29 October 2008 |
Mind Numbing Oil Facts
By: Richard Daughty, The MOGAMBO GURU
No wonder all our Treasury secretaries always said that 'a strong dollar is in the interests of America', and now we see that, similarly, a strong yuan is in the interests of China, as it makes oil, food and all imports cheaper!
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news.goldseek.com >> 28 October 2008 |
Reserved Seats for Big Credit Spenders
By: Richard Daughty, The MOGAMBO GURU
But whether they care or not, the fact is that last week the Federal Reserve boosted Total Fed Credit, namely the amount of fresh credit that appears on the books of the banks, by another staggering $245.4 billion! In One Freaking Week (OFW)!
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news.goldseek.com >> 26 October 2008 |
Unapologetic Economic Stupidity
By: Richard Daughty, The Mogambo Guru
And if you are not horrified at the prospect of continually inflating the money supply, then I know that you either work for the Federal Reserve, teach economics at Princeton or are just plain brain-damaged…
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news.goldseek.com >> 24 October 2008 |
The Velocity of Worthless Money
By: Richard Daughty, The Mogambo Guru
Although this ignores the ugly effect of taxes, which inexorably grinds the original dollar down to zero as it goes from hand to hand, it is also a good example of the velocity of money (the number of times per year that a dollar changes hands)…
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news.goldseek.com >> 23 October 2008 |
Financial Pop Quiz
By: Richard Daughty, The MOGAMBO GURU
This is Truly, Truly Staggering (TTS)! And to show you how staggering, perhaps it is time for a Mogambo Pop Quiz. Answer this multiple-choice question: 'Inflation in the money supply is the precursor to…'
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news.goldseek.com >> 22 October 2008 |
A Little Thing Called Inflation
By: Richard Daughty, The Mogambo Guru
The Fed is now giving foreigners 'unlimited amounts of dollar funds', and yet I cannot get another dollar with which to turn my ordinary burger-and-fries dinner into a Grande Feast of double fries and two perfectly-fried all-beef patties?
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news.goldseek.com >> 21 October 2008 |
Theatre of the Fiscally Absurd
By: Richard Daughty, The Mogambo Guru
Does Bernanke think that monetary inflation produces price inflation everywhere except here in the USA? Hahaha! I don't remember Mr. Friedman saying that!
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news.goldseek.com >> 17 October 2008 |
Dubai Reads from America's Economic Playbook
By: Richard Daughty, The MOGAMBO GURU
I don't know about how they do it in Dubai, but here in America, we destroy our money by creating more and more of it, which I measure with Total Fed Credit, which is the magical stuff that appears in the banks as an increase in credit available for lending.
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news.goldseek.com >> 16 October 2008 |
A Left at Nobel Drive
By: Richard Daughty, The Mogambo Guru
This guy has now won a Nobel Prize, which is now just another award that used to have some prestige, but which is now - as the prizes to Al Gore and Krugman attest - just another filler blurb in the newspaper ('More Nobel Prizes awarded to miscellaneous friends of the Left').
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news.goldseek.com >> 15 October 2008 |
No Savings Allowed
By: Richard Daughty, The Mogambo Guru
I don't know why anybody is surprised at this, as, according to the novel-yet-laughably-stupid theory propounded by the financial services industry of always 'putting money and equity to work', you are SUPPOSED to have zero excess cash!
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news.goldseek.com >> 14 October 2008 |
Currencies Battle for Dirtbag Supremacy
By: Richard Daughty, The Mogambo Guru
Equally weird is that gold is also paradoxically going down in price, even though the dollar is going down in buying power because inflation is higher than the yields the dollars can buy, and the only strength of the dirtbag dollar is that it is appreciating against other currencies, but it is only because those other currencies are a worse bunch of dirtbags!
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news.goldseek.com >> 13 October 2008 |
Emperor of the Gold Cartel
By: Richard Daughty, The Mogambo Guru
Yeah! Emperor! That's it! Taking over the world where I could dispatch armies of bad-tempered underlings to fetch Alan Greenspan and ferret out all the people who aided and abetted him all those years, like this Bernanke creep, and bring them all to me!
Emperor of the Gold Cartel
By: Richard Daughty, The Mogambo Guru
Yeah! Emperor! That's it! Taking over the world where I could dispatch armies of bad-tempered underlings to fetch Alan Greenspan and ferret out all the people who aided and abetted him all those years, like this Bernanke creep, and bring them all to me!
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news.goldseek.com >> 12 October 2008 |
Targeting the Steady Inflation of Losses
By: Richard Daughty, The Mogambo Guru
Purposely causing inflation! This is insane! This is beyond insane! This is the work of the anti-Christ! The purpose of a central bank is to prevent inflation, and to make sure that inflation is always, always, always zero!
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news.goldseek.com >> 10 October 2008 |
Gobbled Up by the Giant Derivatives Monster
By: Richard Daughty, The Mogambo Guru
Well, I say that these foreigners will turn up to loan us money as long as we have weapons, technology, land and useful assets to sell them, but the time will soon come when they will be peddling them to us. In the meantime, how big is the derivatives monster that is going to destroy the world's economic system?
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news.goldseek.com >> 3 October 2008 |
Fed Up With Total Fed Credit
By: Richard Daughty, The Mogambo Guru
My voice trembles as I read aloud that now, for the first time ever, the Fed has created over a trillion dollars' worth of new credit, $1,134,942,000,000.00 to be exact, in the banks, which comes to $3,783 for every man, woman and child in America.
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news.goldseek.com >> 2 October 2008 |
The $200 Million House of Bread
By: Richard Daughty, The Mogambo Guru
In final preparation, I quickly calculated the price of bread 4 years into the future after suffering a 15.3% monthly inflation, and found that, in four years, a loaf of bread that costs $2 today will then cost $1,857.11!
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news.goldseek.com >> 1 October 2008 |
Inflation In-Stereo
By: Richard Daughty, The MOGAMBO GURU
The next thing I know, my stupid boss is at my door, glaring at me, and I can see in her eyes that she is really pissed about something important. But since I often scream like that about the horrors of inflation in prices, I know it can't be about that…
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news.goldseek.com >> 30 September 2008 |
The World's Most Powerful Currency?
By: Richard Daughty, The MOGAMBO GURU
In short, those crafty Chinese, a fifth of the world's population, may be getting ready to issue a gold-standard money, which will instantly make their currency the strongest in the world…
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news.goldseek.com >> 28 September 2008 |
Big Banks and Bumbling Idiots
By: Richard Daughty, The Mogambo Guru
Right now we have greedy, lying, thieving, staggeringly stupid weenies owning the banks, and tomorrow there will just be two more big banks owned by greedy, lying, thieving, staggeringly stupid weenies! Hahaha!
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news.goldseek.com >> 26 September 2008 |
Cower Before the Great and Powerful Paulson
By: Richard Daughty, The MOGAMBO GURU
My God! This is beyond belief! The Secretary of the Treasury will be above the law! My God! I was going to wax loudly indignant, as should all thinking people, when Mr. Sorkin eclipsed me…
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news.goldseek.com >> 25 September 2008 |
Who's Doing Who a Favor?
By: Richard Daughty, The MOGAMBO GURU
Instantly, I was out the door, into the car, careening crazily down the streets on my way to the bank! Bursting into the loan officer's office, I said, 'How much money you got? I'll borrow it all!'
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news.goldseek.com >> 24 September 2008 |
What is a Gold Bug?
By: Richard Daughty, The MOGAMBO GURU
A genuine gold bug is a person who is emboldened by knowing that 4,000 years of continuous economic history proves that EVERY fiat currency has failed, as they will always fail, and that gold will rise, just like it always has…
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news.goldseek.com >> 23 September 2008 |
Financial Head Loppings
By: Richard Daughty, The MOGAMBO GURU
So, for the Congressional Budget Office to bring up the totally irrelevant 2007 fiscal budget deficit of $161 billion makes me yell, 'Off with his head! Off with his head!' with every bit of imperious Red Queen arrogance I can muster.
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news.goldseek.com >> 21 September 2008 |
The Greatest Buying Opportunity of All Time
By: Richard Daughty, The MOGAMBO GURU
I can see that this is drifting too far to the "theoretical" side of things for my tastes, and my impatience flared, as all I want is a way to make a lot of money by betting on gold and silver soaring in price…
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news.goldseek.com >> 19 September 2008 |
Funding Your Retirement on Poor Pizza Profits
By: Richard Daughty, The Mogambo Guru
Ten years ago, the average investor invested a whole 6-slice pizza, and now, ten years later, they have as little as one slice of a pizza to show for their efforts? And somebody still thinks that they can fund a retirement on that kind of performance?
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news.goldseek.com >> 18 September 2008 |
Landing a Broken Airplane
By: Richard Daughty, The MOGAMBO GURU
I prove this brash allegation by showing how few of them own any gold, even as the Federal Reserve keeps expanding the money supply, which is so stupid that it qualifies as 'moronic.'
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news.goldseek.com >> 17 September 2008 |
Topsy Turvy Government Policy
By: Richard Daughty, The MOGAMBO GURU
Drawing myself up in a posture of overbearing arrogance born of what appears to be some kind of natural law or something, I point out that booms always turned to busts, and precious metals always turned out to be the best investment of all.
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news.goldseek.com >> 16 September 2008 |
Spooky Stats from the U.S. Mint
By: Richard Daughty, The Mogambo Guru
It gets spooky when he goes on to note that 'indeed, the Mint's inventory did vary monthly, up until March 2006. But according to the Treasury's reports, the Mint's working stock has remained exactly 2,783,218.656 ounces since April 2006.'
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news.goldseek.com >> 14 September 2008 |
Going into Debt to Buy a Debt
By: Richard Daughty, The MOGAMBO GURU
You elected corrupt, socialist scumbag morons who have now spent us into deficit-spending bankruptcy by letting the Federal Reserve create the money that people borrowed (thus creating a debt) so that they could buy Treasury debt! Hahaha! Going into debt to buy a debt!
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news.goldseek.com >> 12 September 2008 |
Stupidity Protection Plan
By: Richard Daughty, The MOGAMBO GURU
Man, oh man! 'Nothing is off the table'! Wow! How come I never have anyone covering my Mogambo Incompetent Butt (MIB) like that, saying, 'Let's protect Mogambo from the results of his own stupidity and stick somebody else with the bill?'
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news.goldseek.com >> 11 September 2008 |
Deployed to the Unemployment Line
By: Richard Daughty, The MOGAMBO GURU
The latest report of employment showed that the U.S. unemployment rate is now at 6.1%, which is up from 5.7% a month ago. Worse, of the 7 sectors tracked in the report, only in government and education/healthcare is employment rising!
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news.goldseek.com >> 10 September 2008 |
Robbing the Poor of Jeffersonian Wisdom
By: Richard Daughty, The MOGAMBO GURU
Because the government (in our case, through its proxy the Federal Reserve) creates excessive amounts of money and credit…the poor must consume less, and the money they spend flows to the rich guys who borrowed the money in the first place!
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news.goldseek.com >> 9 September 2008 |
No Accounting for Currency
By: Richard Daughty, The Mogambo Guru
Now I am curious to know how much an ounce of gold would be if the $829 billion in actual U.S. cash-and-coin that exists was netted against the 261 million ounces of gold that the Fed is supposed to have. Hmmm!
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news.goldseek.com >> 7 September 2008 |
The Assets of Penultimate Fools
By: Richard Daughty, The MOGAMBO GURU
all the money 'invested' during the boom in stocks, bonds and houses is lost unless more money is created for another crop of 'greater fools' to buy the assets from the 'penultimate fools!' Hahaha! It's insane!
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news.goldseek.com >> 5 September 2008 |
Pride in Acting Like a Pawnshop
By: Richard Daughty, The Mogambo Guru
And while I have never, to my knowledge, recommended that people 'act like pawnshops', I will note that they are accumulating gold, and so the advice seems like good advice, as opposed to my Usual Mogambo Crappy Advice (UMCA)!
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news.goldseek.com >> 4 September 2008 |
Lightening the Mood with the GDP Deflator
By: Richard Daughty, The MOGAMBO GURU
I am laughing insanely at the sheer hilarity that inflation is estimated to be 1.2%, and yet I am so scared and outraged at this insult to my intelligence that my teeth are clenched and grinding so hard that sparks are actually flying out of my mouth…
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news.goldseek.com >> 3 September 2008 |
Eliminating Income Tax?
By: Richard Daughty, The MOGAMBO GURU
I find myself getting up and finding out that the National Debt is now a terrifying $9.608 trillion, and which is up a whopping $637 billion from this time last year, while the government only admits that they borrowed half that! Yikes!
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news.goldseek.com >> 2 September 2008 |
Silver Stats that Will Make You Salivate
By: Richard Daughty, The MOGAMBO GURU
I'm a guy who is an investor in silver, and who would be a BIGGER investor in silver if my stubborn wife was more reasonable about how to apportion my pitiful income among the various clamoring creditors and greedy children…
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news.goldseek.com >> 1 September 2008 |
Central Bankers Go To Austrian School?
By: Richard Daughty, The MOGAMBO GURU
The Fed and the other central banks say they are finally, after all these years, going to restrict credit and keep the money supply from growing, to keep inflation from growing, like as with gold-backed money?
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news.goldseek.com >> 29 August 2008 |
Intaxicating Rebate Checks
By: Richard Daughty, The MOGAMBO GURU
The worst inflation in consumer prices is, in case you were wondering, in Venezuela, suffering a terrifying 33.7% inflation, followed by Pakistan at 24.3%, with Japan being the best at 2% inflation! A 2% inflation is the best in the world! Yikes!
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news.goldseek.com >> 28 August 2008 |
A-Holes at the J-Hole
By: Richard Daughty, The MOGAMBO GURU
This convention, which I routinely dub 'A-holes at the J-Hole', still makes me smile because it so perfectly describes my Disdainful And Highly Scornful (DAHS) attitude towards them all because of their Complete And Utter Failure (CAUF)…
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news.goldseek.com >> 27 August 2008 |
Retirement Wake-Up Call
By: Richard Daughty, The MOGAMBO GURU
Perhaps this loss in housing equity is why an AARP survey that found increasing numbers of people who are eligible for retirement are, instead, continuing to work, and some of them are even going back to work after retiring.
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news.goldseek.com >> 26 August 2008 |
Worthless Money, Worthless Economy
By: Richard Daughty, The MOGAMBO GURU
The worst part is that this is also true: worthless money, worthless economy. I wish I could find a laugh in there, but I can't. Plenty to weep about, though! And plenty of time to repent at leisure, too!
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news.goldseek.com >> 24 August 2008 |
Profits Get Beaten with an Ugly Stick
By: Richard Daughty, The Mogambo Guru
I will not go into it, as it usually means that I am going to be fired soon, and I don't want to think about that right now, other than to say that 'profits that suffer' is ugly in the best of times, and it will be Much, Much Uglier (MMU) this time…
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news.goldseek.com >> 22 August 2008 |
Double-Count Accounting Magic
By: Richard Daughty, The MOGAMBO GURU
The bad news is that their money is all gone, but the good news is that I have effectively doubled our family income if one is allowed (like the government and Social Security) to double-count the money I borrowed from them as still being in their accounts, although I spent it! Accounting magic!
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news.goldseek.com >> 21 August 2008 |
The New Silver: Now Made with Real Paper
By: Richard Daughty, The MOGAMBO GURU
So, from now on, if you ever want to buy some silver, MSS will sell it to you at the lowest price possible; the spot price! All you have to do is just send the money to me, in cash, in a plain brown envelope addressed to 'Occupant', and I will gladly send you a piece of paper that says I sold you some silver.
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news.goldseek.com >> 20 August 2008 |
The Profit Potential of Tasty Pork Products
By: Richard Daughty, The MOGAMBO GURU
I think there's a Big, Big, BIG Freaking Opportunity (BBBFO) for America and Canada to export pork to China! As one hog-industry observer put it, 'The potential for further Chinese importation of pork is almost incomprehensible.'
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news.goldseek.com >> 19 August 2008 |
Unemployment Survival Guide
By: Richard Daughty, The MOGAMBO GURU
All of this unemployment must be impacting demand for goods and services, which may be what prompted Jim Sinclair of jsmineset.com to ask a lot of questions, including 'Do you really believe that present inflation is demand driven?'
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news.goldseek.com >> 17 August 2008 |
A Big Stinking Economic Heap
By: Richard Daughty, The MOGAMBO GURU
And with a fiat currency and a demonstrated willingness on the part of Congress, and every other government on the face of the planet, to abide every possible corruption…they can spend and spend and spend, and it will never end until it collapses in a Big Stinking Heap (BSH)!
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news.goldseek.com >> 15 August 2008 |
Gold and the Out of Whack Economy
By: Richard Daughty, The MOGAMBO GURU
In case you were wondering, China actually kicked our American butt a long time ago, as China 'surpassed the United States as the world's second largest gold producer in 2007 with 270.491 tons of output.'
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news.goldseek.com >> 14 August 2008 |
The Great Variety of Poor Rich People
By: Richard Daughty, The Mogambo Guru
As I stretched out on a pile of rotting cabbage in preparation for this exciting bit of news, I was actually all tingly at the thought of seeing how the inequality between the rich and the poor can be shown to be offset by sheer variety of goods in the marketplace!
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news.goldseek.com >> 13 August 2008 |
The U.S. Dollar on Roman Steroids
By: Richard Daughty, The Mogambo Guru
'The modest decline corresponded with Rome's rise to become an empire. From the original 66 grains of silver, the value had only declined 10% to 60 grains, by the time of Julius Caesar (49 BC). But soon afterwards monetary tumult commenced in earnest.'
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news.goldseek.com >> 12 August 2008 |
The Pension Plan Cookie Thief
By: Richard Daughty, The Mogambo Guru
I will note for the record that every time I try that crap with the employee pension plan or the petty cash account at work, everybody starts running around screaming about what a thieving, lying, despicable crook I am…
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news.goldseek.com >> 8 August 2008 |
Fractional-Reserve Banking at its Finest
By: Richard Daughty, The Mogambo Guru
TFC is what gets created with the literal push of a button at the Fed, and then deposited into the banks (or into the Fed itself!) and then turned into actual money when someone borrows this just-created-out-of-thin-air credit…
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news.goldseek.com >> 7 August 2008 |
Monetary Joyride
By: Richard Daughty, The Mogambo Guru
I explained that, yes, I had my foot on the accelerator, but the car went fast all by itself! In fact, the more I stepped on the accelerator, the faster the car went! It's obviously one of the mysteries of the universe!
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news.goldseek.com >> 6 August 2008 |
Nowhere to Hide from Inflation
By: Richard Daughty, The Mogambo Guru
Well, as far as I can tell, diving back into my dark little cubbyhole in renewed fear, the economy is already in shambles because of inflation in consumer prices, and my marriage, my life and my career are in shambles because everybody hates me and is out to get me, and that is why I seem to be broke all the damned time.
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news.goldseek.com >> 5 August 2008 |
The Half and Half in Your Economic Coffee
By: Richard Daughty, The Mogambo Guru
And given that banks, when selling foreclosed houses, actually net about half the price of the mortgage, that means to me that houses are, by extension, overpriced by half, and as such will surely not be rising in price for a long, long time to come.
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news.goldseek.com >> 3 August 2008 |
Betrayed by the Village Idiot
By: Richard Daughty, The Mogambo Guru
I say that the lesson to be learned here is that we have been betrayed by Congress, again and again, as it screws up everything it touches, which is what government routinely does, which is why it is obvious that the Constitution never meant for them to be doing this.
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news.goldseek.com >> 1 August 2008 |
Inflationary Horror Movie
By: Richard Daughty, The Mogambo Guru
But real inflation…is roaring far above a measly 5%, and while 'annual CPI-U Surges to 5.0%', as per the headlines, inflation measured the older, pre-Clinton way is 12.6% in June! Which is up from 11.8% in May! Yow yow yow! We're freaking doomed!
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news.goldseek.com >> 31 July 2008 |
Too Little, Too Late to Stop Creating Money
By: Richard Daughty, The Mogambo Guru
So why am I so disconsolate that the Fed is not increasing money and credit, and so is not increasing the money supply and so is not increasing inflation in consumer prices? Shouldn't I be happy?…No, because it is too late to stop now!
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news.goldseek.com >> 30 July 2008 |
How to Be Naked With Shorts On
By: Richard Daughty, The Mogambo Guru
The problem in 'going short' is obvious, as you are thinking, 'How do you sell something that you don't own? Is this another of your Sleazy Mogambo Tricks (SMT) to take my money…'
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news.goldseek.com >> 29 July 2008 |
Confessions of a Silver Optimist
By: Richard Daughty, The Mogambo Guru
The historical high for silver was set 531 years ago…at a princely $806 an ounce. By comparison, the price of silver less than $19 an ounce today, and was only about $5 an ounce in 1998, after having bottomed at under $4 an ounce in 1992.
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news.goldseek.com >> 28 July 2008 |
Experience in Catastrophe
By: Richard Daughty, The Mogambo Guru
One of the things that he finds worrisome is that 'things may even be worse than I first thought', which probably shows why he was not selected to be the Republican presidential nominee; he is inexperienced in catastrophe.
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news.goldseek.com >> 25 July 2008 |
Mr. Foreign Investor's Neighborhood
By: Richard Daughty, The Mogambo Guru
Perhaps the reason that Treasury Secretary Paulson wants to bail out Government Sponsored Entities (GSEs) like Fannie Mae and Freddy Mac is because of who owns the shares of the companies, which will go to zero if Fannie and Freddie are allowed to fail like they deserve to do.
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news.goldseek.com >> 24 July 2008 |
The Problem Solving Paulson Package
By: Richard Daughty, The Mogambo Guru
The Paulson Package solves all of our problems! It merely requires you to give me permission to use either unlimited company funds to spend at my total secret discretion, or give me immunity to use a bazooka or baseball bat to whack our enemies…
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news.goldseek.com >> 23 July 2008 |
Economy Forces Strippers to Jockey for Pole Position
By: Richard Daughty, The MOGAMBO GURU
An adult-club owner named Joe Redner says that although business is down 25%, 'the economy does have one upside for the business - it's bringing out more women willing to give pole dancing a try.' Hahaha!
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news.goldseek.com >> 22 July 2008 |
The Power of the Chinese Credit Card
By: Richard Daughty, The MOGAMBO GURU
Note the clever way that I used three exclamation points to emphasize the fact that 1.58 billion cards in the hands of Chinese shoppers is a lot, and is equal to 5 cards for every man, woman and child in America! That's buying power!
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news.goldseek.com >> 20 July 2008 |
Inflation Induced Fainting Spells
By: Richard Daughty, The MOGAMBO GURU
My head is swimming and I feel a swoon coming on at the idea of 38% inflation, and I would have fainted, too, if I hadn't remembered what happened the LAST time I had a fainting spell because of inflation in consumer prices…
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news.goldseek.com >> 18 July 2008 |
The Voyages of the Debt-Addled Enterprise
By: Richard Daughty, The MOGAMBO GURU
Yet, against this staggering load of incestuous liabilities, and liabilities masquerading as assets that totals a third of the annual GDP output of the whole freaking country, these two greedy, corrupt, filthy pieces of debt-addled Government Sponsored Enterprise crap have only a paltry $80 billion in capital! Hahahaha!
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news.goldseek.com >> 17 July 2008 |
A Poor Job of Stamping Out Food Price Inflation
By: Richard Daughty, The MOGAMBO GURU
Currency in Circulation, which is actual cash money created out of real paper and ink or various metals, rose over $6.3 billion last week alone! $6 billion bucks! In one week! That's almost $20 for every man, woman and child in America! In one week!
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news.goldseek.com >> 16 July 2008 |
Highway to the Fiscal Danger Zone
By: Richard Daughty, The Mogambo Guru
Yesterday, when inflation in the money supply raised the prices of stocks and the prices of bonds and the prices of houses and the prices of monumental government spending (including the money for programs like his), that was not a 'danger zone' either.
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news.goldseek.com >> 15 July 2008 |
A Better Use for Your 401(k)
By: Richard Daughty, The MOGAMBO GURU
The advice to never touch your 401(k) is not so cut-and-dried, and it could easily be that immediately taking all that money out of the retirement plan would be the optimal move…
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news.goldseek.com >> 14 July 2008 |
New Car Smells Like Long-Term Investing
By: Richard Daughty, The MOGAMBO GURU
Your gain on the $7,200 is just enough for you to have, after 28 years, an after-tax price of a new car ($26,950), which means that you just break even! Hahaha! In essence, you invested a new car to get a new car, after waiting 28 years! Hahaha!
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news.goldseek.com >> 11 July 2008 |
Government Sanctioned Ponzi Schemes
By: Richard Daughty, The MOGAMBO GURU
The Implacable Screaming Mogambo (ISM) goes freaking berserk at the economic insanity of it all as he watches, horrified, as asset prices get bid higher and higher in a boiling frenzy of speculation with all of this new Federal Reserve money and credit, and which will end badly when the Ponzi game falls apart…
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news.goldseek.com >> 10 July 2008 |
To Hell in a Currency Basket
By: Richard Daughty, The MOGAMBO GURU
Some morons suggest that they should peg their currencies against a basket of other currencies! Hahaha! I may be drunk out of my Freaking Mogambo Mind (FMM) on some really cheap hooch, but even so, I am sure that this is a Particularly Bad Idea (PBI), as those other countries are pegging their currencies to the dollar, too!
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news.goldseek.com >> 9 July 2008 |
Sleeping Through a Catastrophic Economy
By: Richard Daughty, The MOGAMBO GURU
I told you to buy gold… But did you? No! You called the police and had them come over here to make me shut up just because it was 2:00 AM and you wanted to sleep like a stupid little baby through the catastrophe that IS the damned economy!
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news.goldseek.com >> 8 July 2008 |
A World Without Inflation
By: Richard Daughty, The Mogambo Guru
'If the inflation introduced in the United States is excluded, a small miracle is revealed, namely something approaching price stability.' Hahahaha! Let me get this straight: If you take out inflation from the rise in prices, then prices did not rise?
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news.goldseek.com >> 7 July 2008 |
The Biggest Loser of Purchasing Power
By: Richard Daughty, The MOGAMBO GURU
You will lose more in purchasing power (as central bank monetary inflation destroys the currency by printing enough to finance the higher stock prices) than you will ever net in gains…
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news.goldseek.com >> 3 July 2008 |
Vaguely Resembling Real Price Inflation
By: Richard Daughty, The MOGAMBO GURU
Mr. Samuelson is also admitting that he is completely ignorant of John Williams and his shadowstats.com, where inflation is calculated the way it was actually measured in 1974, and which shows that price inflation is now HIGHER than it was in 1974…
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news.goldseek.com >> 2 July 2008 |
More Bats and a Bigger Budget
By: Richard Daughty, The MOGAMBO GURU
Looking furtively about with my beady, rat-like eyes to a route of escape, I was nevertheless frozen to the spot when he said, 'Our nation has come to expect the Federal Reserve to step in to avert events that pose unacceptable systemic risk.'
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news.goldseek.com >> 1 July 2008 |
Funding the Bacchanalian Excess
By: Richard Daughty, The MOGAMBO GURU
The bad news is that today's feasters, gorging themselves at the government trough, are not going to commit suicide. They are going to riot, and elect politicians to continue the feast, regardless of the cost.
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news.goldseek.com >> 29 June 2008 |
Gold Bats a Thousand on Softball Questions
By: Richard Daughty, The MOGAMBO GURU
And since we are talking soft, fluffy, slow-pitch questions, I'll ask one: What monetary policy is the best and most stringent? Easy one: The gold standard!
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news.goldseek.com >> 27 June 2008 |
Love/Hate Inflationship
By: Richard Daughty, The MOGAMBO GURU
We love inflation and we hate inflation! So, it's a love/hate relationship! The most confusing kind! No wonder my head is spinning all the time!
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news.goldseek.com >> 26 June 2008 |
Using Modern Economics to Scare Children
By: Richard Daughty, The Mogambo Guru
And don't get me started on how increases in Social Security payments have lagged increases in prices for years and years, because I hear plenty of that from people who depend on Social Security checks.
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news.goldseek.com >> 25 June 2008 |
Economic Egomaniacs
By: Richard Daughty, The MOGAMBO GURU
Now, total government taxation consumes half of all incomes, all of which goes around and around until my head is spinning and I wonder how it is possible that any country with as many schools, colleges and universities as we have can be so freakishly, perversely, brain-dead as to believe that such idiocy was even freaking possible?
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news.goldseek.com >> 22 June 2008 |
Asking Too Much of a Fiat Currency
By: Richard Daughty, The MOGAMBO GURU
Trying to preserve buying power with advanced purchases of oil! Sort of like buying gold and silver, but messier. Stick with silver and gold. You'll be glad you did, as your motives are the same as everybody else's…
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news.goldseek.com >> 20 June 2008 |
Nothing to Be Done
By: Richard Daughty, The MOGAMBO GURU
Perhaps the fact that nothing can be done explains their inaction, because if something could be done, somebody would have thought of it in the last 3,000 years of idiotic governments destroying themselves with creating too much money and credit.
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news.goldseek.com >> 19 June 2008 |
Raising the Roof on the Debt Ceiling
By: Richard Daughty, The MOGAMBO GURU
The debt ceiling was raised less than a year ago from $8.965 trillion, which means that the despicable Congress (except Ron Paul) authorized themselves to spend about $500 billion…
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news.goldseek.com >> 18 June 2008 |
Many Thanks to the Damn Greedy Banks
By: Richard Daughty, The MOGAMBO GURU
I am so scared and paranoid at the economic horror that is looming in our future that I have been drinking heavily and consuming various medications in various quantities just so I can stop screaming…in horror about inflation in prices…
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news.goldseek.com >> 17 June 2008 |
Silver Saves Investors Big and Small
By: Richard Daughty, The MOGAMBO GURU
And why is everybody, big and small investors alike, suddenly buying all of this silver? Could it be because silver…has always (for the last 4,000 years in a row, anyway) gone up in price when the value of the money went down? Hahaha! You bet it is!
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news.goldseek.com >> 15 June 2008 |
A Phantom Increase in Income
By: Richard Daughty, The MOGAMBO GURU
If you are like me, you are suddenly realizing that your income did not go up by 0.2%, or any percent, because if it did, it seems like you would have remembered it. And anyway, if my income DID go up, then where in the hell is all of this money?
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news.goldseek.com >> 13 June 2008 |
Investing Made Simple
By: Richard Daughty, The MOGAMBO GURU
Suddenly I think, 'Ahhh! I see! Demand is more than supply, meaning price will go up until demand equals supply!', at which point I think, 'Whee! Investing is easy when you know to avoid stocks and bonds and buy gold, silver and oil…'
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news.goldseek.com >> 12 June 2008 |
Jabba the Gold
By: Richard Daughty, The MOGAMBO GURU
To get a hot chick to say, 'Take me and ravish me, you Hot Mogambo Stud (HMS)!', you can't use force like old Jabba there. And that means willful cooperation, and that means you are going to need some serious, serious money.
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news.goldseek.com >> 11 June 2008 |
Crude Up and Kills Created Money
By: Richard Daughty, The MOGAMBO GURU
This is the Big, Big Reason (BBR) that I am now looking for a cushy job as an oil company CEO, because I would make a lot of money for doing practically nothing and apparently knowing even less. It's perfect for me!
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news.goldseek.com >> 10 June 2008 |
The Declining Quality of Dollar Menus
By: Richard Daughty, The MOGAMBO GURU
To show you how things really work in the real world, Mr. Pento says that nobody is sacrificing profits, as 'In the case of McDonald's, it may be necessary to reduce the quantity or quality of items on the dollar menu in order to maintain the price.'"
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news.goldseek.com >> 8 June 2008 |
Economic Lessons from Alexander Pope
By: Richard Daughty, The MOGAMBO GURU
Luckily, I had been transferring lots of money from the operating account at the bank into cash in the office safe in case of some kind of emergency. And sure enough, here's an emergency! Who says I don't know how to plan ahead? Hahaha!
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news.goldseek.com >> 6 June 2008 |
How to Remain Calm During a Price Explosion
By: Richard Daughty, The MOGAMBO GURU
I'm barricaded in my house; there are a zillion 'Trespassers will be shot!' signs all over the yard; and I am buying gold and silver with every dime I can steal from my wife's purse or the kids' piggy banks.
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news.goldseek.com >> 5 June 2008 |
Sounding the Government Debt Alarm
By: Richard Daughty, The MOGAMBO GURU
But that was not the only thing that was causing mayhem with the Mogambo Economic Alarm System (MEAS), as the Federal Reserve itself sold off another $11 billion of its government debt last week! Yikes!
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news.goldseek.com >> 4 June 2008 |
Howling at the Moon
By: Richard Daughty, The MOGAMBO GURU
You invested $100 in 2002 buying power to get back, after five years, $76 in 2002 buying power! Hahaha! Your 'fabulous' investment made a paper gain, but produced a real, inflation-adjusted loss of 25% of your money! Hahaha!
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news.goldseek.com >> 3 June 2008 |
A Paralyzing Rise in Money Supply
By: Richard Daughty, The MOGAMBO GURU
Apparently, he mistook the look of sheer, paralyzing horror on my face at this revelation of such a massive expansion of the money supply (because it will lead directly to inflation in consumer prices), to be mere confusion on my part.
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news.goldseek.com >> 1 June 2008 |
A Worrisome Economic Understatement
By: Richard Daughty, The MOGAMBO GURU
Monetary policy is so loose that real interest rates (the nominal interest rate less the rate of inflation) are less than zero, and they think it is 'worrying'? Hahahaha! Talk about British reserve and understatement! Hahahaha! Wow!
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news.goldseek.com >> 30 May 2008 |
The Dollar Aligned Dollar
By: Richard Daughty, The MOGAMBO GURU
And in case you want to know if the dollar is aligned with the dollar, then - Hahaha! - yes, the dollar is most certainly aligned with the dollar, and therefore, as the Economist magazine says, we well see 'the biggest price rises.'
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news.goldseek.com >> 29 May 2008 |
Fiat Ruination
By: Richard Daughty, The MOGAMBO GURU
As the solid foundation of your True Mogambo Enlightenment (TME), you have the fact that not once in the 4,000-year history of man and money has this 'fiat money' crap NOT led to total ruination. Not once. Not even close.
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news.goldseek.com >> 28 May 2008 |
All Sell and No Buy
By: Richard Daughty, The MOGAMBO GURU
I can see by the look of horror on your face that you have heard enough today. We'll take it up again tomorrow, or whenever I sober up after hearing this Awful, Awful News (AAN) myself. Brrr! The blood runs cold!
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news.goldseek.com >> 27 May 2008 |
Inflationary Tortillas
By: Richard Daughty, The MOGAMBO GURU
Consumers are suffering because the stupid European governments boosted spending for a decade or more, the money financed by debt, and it is all of this spending that has made the purchasing power of the euro to fall.
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news.goldseek.com >> 26 May 2008 |
Screwed Out of Buying Power
By: Richard Daughty, The MOGAMBO GURU
But maybe bondholders are so used to being screwed out of buying power that they don't even notice anymore. Or they are all taking drugs and don't realize that they are being screwed out of buying power.
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news.goldseek.com >> 23 May 2008 |
Applauding the Ridiculous
By: Richard Daughty, The MOGAMBO GURU
'For 25 years, the Fed has kept inflation at an average of 3.2 per cent a year - that should be applauded'! Hahaha! You will go a Long, Long Time (LLT) long time before you hear something so ridiculous! Hahahaha! Applauded! Hahahaha!
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news.goldseek.com >> 22 May 2008 |
Banking on Incompetence and Theft
By: Richard Daughty, The MOGAMBO GURU
I will point out that you can make an argument that the corporate motto of 'No refunds for any reason, including incompetence and theft!' is not even original, as that is the whole attitude of the banks in general and the Federal Reserve in particular: incompetence and theft!
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news.goldseek.com >> 21 May 2008 |
Relishing a Golden Experience
By: Richard Daughty, The MOGAMBO GURU
Soon everything you love will be gone, and then you will appreciate the wry humor of the expression 'Experience is what you have left when everything else is gone.' Hahahaha!
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news.goldseek.com >> 20 May 2008 |
'Oil Bust' Headline Makes a Good Punch Line
By: Richard Daughty, The MOGAMBO GURU
Perhaps part of the humor is that this comes at the same time as the price of gasoline went up 3 cents to another record high of an average of $3.70 a gallon. This is up 22% from this time last year! 22 percent! 22! Hahahaha!
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news.goldseek.com >> 18 May 2008 |
The Earthling Economics Experiment
By: Richard Daughty, The MOGAMBO GURU
Why don't they do what they know they should, especially since the freaking Constitution of the United States of America requires that money be only of only silver and gold, so that a fiat currency would be impossible?
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news.goldseek.com >> 16 May 2008 |
The Economic Sky Has Fallen
By: Richard Daughty, The MOGAMBO GURU
I naturally jump to the conclusion that this is the worst inflation in U.S. history, and that it is time to seal myself into the Impregnable Mogambo Bunker (IMB) and shoot at anything that moves because the economic sky has fallen…
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news.goldseek.com >> 15 May 2008 |
A Shrinking Trade Deficit is Still a Deficit
By: Richard Daughty, The MOGAMBO GURU
So the total swing from a monthly surplus of $63 to a deficit of $58 billion has been a staggering $121 billion! You can probably tell by the way my eyes spin comically in my head that this is a Big Freaking Change, and it scares the hell out of me.
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news.goldseek.com >> 13 May 2008 |
Government Approves 'Unemployed' as Job Description
By: Richard Daughty, The MOGAMBO GURU
Maybe this 'recession' thing is why the Labor Department reported that the U.S. lost another 20,000 jobs in April. In fact, the economy has shed 260,000 jobs since New Year's Day!
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news.goldseek.com >> 11 May 2008 |
Stranger than Fictional Balance Sheets
By: Richard Daughty, The MOGAMBO GURU
I am curious as to what 'lowering assumptions' means to these S&P people, as I have recently been told by my family that they have 'lowered' their assumptions again, too, and that they now collectively assume that I have hit bottom…
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news.goldseek.com >> 9 May 2008 |
The REAL Reason Everything Costs So Much
By: Richard Daughty, The MOGAMBO GURU
So where is that other $49 billion, if they borrowed it but did not add it to reserves? Who the hell knows? Gaaahh! My head is spinning! I cannot even understand this new corrupt crap anymore!
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news.goldseek.com >> 8 May 2008 |
A Fear of Falling Fed Credit
By: Richard Daughty, The MOGAMBO GURU
As I was contemplating how my blood got suddenly colder, I was taking a long pull from a bottle of really cheap tequila to try and calm my ragged nerves about this lack of additional TFC thing.
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news.goldseek.com >> 7 May 2008 |
Higher Prices for Smaller Portions
By: Richard Daughty, The MOGAMBO GURU
The result is that the price of packaged food is going up by more than the rise in the underlying commodities would suggest, which (according to government statistics) is at least 20% in the last year, and often much, much more.
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news.goldseek.com >> 6 May 2008 |
The Magic of 'Product Substitution'
By: Richard Daughty, The MOGAMBO GURU
It is this last fraud that has been used to such success by Mogambo Inter-Planetary Industries (MIPI), by which we commit an as-yet legalized extortion by utilizing the word 'improved'.
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news.goldseek.com >> 4 May 2008 |
Gold Price Suppression Scheme
By: Richard Daughty, The MOGAMBO GURU
And as to the notion that the Fed has sold half of our nation's gold, I think that is being generous as hell, as I see no reason why the Fed would stop at only half…
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news.goldseek.com >> 2 May 2008 |
The Velocity of Floral Inflation
By: Richard Daughty, The MOGAMBO GURU
But after all of this, you suddenly realize that the money that was taxed away comes roaring back into the economy as government spending, making a mockery of the whole thing, and then there is inflation to consider…
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news.goldseek.com >> 1 May 2008 |
Trainee Makes Bank Bosses Look Stupid
By: Richard Daughty, The MOGAMBO GURU
You can see how I am despondent and angry that I am the one who is wearing a stupid nametag that says 'Trainee' and getting hot grease spattered all over me, while they make the big money by being so freaking wrong!
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news.goldseek.com >> 30 April 2008 |
At the Center of a Snowball of Debt
By: Richard Daughty, The MOGAMBO GURU
Total debt everywhere, like Old Man River, just keeps rolling along, like a snowball rolling downhill, getting bigger and bigger, which is such a strange mix of metaphors that I realize that I am completely confused and frightened.
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news.goldseek.com >> 29 April 2008 |
Fried in the Financial Sun
By: Richard Daughty, The MOGAMBO GURU
By how much is the Libor lending rate understated? Maybe as much as 0.3%, which doesn't sound like that much, but when you are talking about trillions and trillions of pounds and euros of debt, it adds up to a lot of money!
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news.goldseek.com >> 27 April 2008 |
Shocking the Food Right Out of Your Mouth
By: Richard Daughty, The MOGAMBO GURU
This is the basis of the new Mogambo Diet Plan (MDP), and you can see how that kind of 'kiss your own nasty butt goodbye because you are going to die' news, delivered in a constant, shrill, high-decibel voice would make you lose weight!
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news.goldseek.com >> 25 April 2008 |
Funding the Food Price Fiasco
By: Richard Daughty, The MOGAMBO GURU
The IMF, glorying as ever in its failures, just like the Federal Reserve, now promotes the laughable idea to 'tackle' rising food prices by having donor economies give other people money to pay higher food prices! Hahaha!
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news.goldseek.com >> 24 April 2008 |
Magical Money from Thin Air
By: Richard Daughty, The MOGAMBO GURU
This TFC-not-expanding thing is Bad, Bad News (BBN) because this is the stuff that the Federal Reserve creates at their whim, which causes credit to appear on the books of the banks, which turns into money when someone takes out a loan at a bank.
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news.goldseek.com >> 23 April 2008 |
8 Million Golden Reasons
By: Richard Daughty, The MOGAMBO GURU
A lot of people have a lot of theories as to why gold is going down, when the theory and the entire history of economic mankind say it should be going up, and most of them are right, to one degree or another, as there are as many reasons for acting as there are actors, and there are eight million stories in the naked city.
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news.goldseek.com >> 22 April 2008 |
Disproportionate Derivatives
By: Richard Daughty, The MOGAMBO GURU
The total value of the existing global gargantuan globular glut of derivatives is estimated to be more than $700 trillion! Compare this stupefying fact to the associated fact that global GDP is only about a lousy $50 trillion!
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news.goldseek.com >> 20 April 2008 |
Inflation of the Third Kind
By: Richard Daughty, The MOGAMBO GURU
My God! This is all inflation news that is beyond terrible, but it seems so much less than that after the 73% rate of crude goods! But the reality is that we're freaking doomed, whether it seems like it or not!
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news.goldseek.com >> 18 April 2008 |
Heart Attacks and Tax Codes
By: Richard Daughty, The MOGAMBO GURU
Already beset by demons of my deteriorating mental and cardiac capacity, the idea that the capital gains tax was already 5% and I hadn't even noticed had me in a panic! What else wasn't I aware of? I shuddered to think!
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news.goldseek.com >> 17 April 2008 |
The Monetarist School of Economic Assassins
By: Richard Daughty, The Mogambo Guru
On a stand-still basis for foreign exporters, we would have to pay prices that are 20% higher for our imports, just for them to break even when converting dollars back into their native currencies! Hahaha! We pay more for things! Welcome to the hell of a falling currency!
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news.goldseek.com >> 16 April 2008 |
Melting a Grammy for the Gold
By: Richard Daughty, The MOGAMBO GURU
I hope you have a good grip on your hat because it is going to fly up off of your freaking head when I tell you that right now the S&P500 is sporting a P/E of 21, and the freaking Dow is so overly-valued that it is selling at a P/E of 53!
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news.goldseek.com >> 15 April 2008 |
Cursing the Loss of Purchasing Power
By: Richard Daughty, The MOGAMBO GURU
This amazing phenomenon proves either that the government's Plunge Protection Team exists and is massively operating to intervene in the markets, or that people are truly idiots. Or maybe delightful little fairies guard our dreams and protect us in life!
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news.goldseek.com >> 13 April 2008 |
Government Spending Burns the Toast
By: Richard Daughty, The MOGAMBO GURU
This same bankrupt America is getting ready to send out $160 billion in 'economic stimulus' checks, where the government is literally giving people free money even though the government is borrowing like crazy just to keep afloat, which means that we that are truly, truly toast.
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news.goldseek.com >> 11 April 2008 |
Not-So-Quiet Food Riots
By: Richard Daughty, The MOGAMBO GURU
And worse yet for us alcohol-besotted worthless lushes out here, heroically keeping bartenders and comely barmaids gainfully employed year around, the price of hops, an integral ingredient in beer making, has soared from $4 a pound to $40.
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news.goldseek.com >> 10 April 2008 |
Perched on an Economic Fault Line
By: Richard Daughty, The MOGAMBO GURU
And one of the sensitive Mogambo Economic Tremor Detectors (METD) shows that the apparent slowdown in Total Fed Credit for the past few months has now been revealed as a mirage, and Federal Reserve Credit has now ballooned another $6.1 billion…
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news.goldseek.com >> 9 April 2008 |
Trillions Embarrass a Billion-Dollar Bulwark
By: Richard Daughty, The MOGAMBO GURU
Half of the Fed's stash of government debt has been used up already! Yikes! And how big is the entire rest of the Fed's stash of government securities? A piddly $629 billion! Hahaha!
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news.goldseek.com >> 8 April 2008 |
The Government Genie Flips a Coin
By: Richard Daughty, The MOGAMBO GURU
If you think that a negative lease rate for gold is weird… You are a winner! You have won the chance to choose between the two Mogambo Doors Of Mystery (MDOM) and claim the fabulous prize that is waiting there for you!
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news.goldseek.com >> 6 April 2008 |
A Crude Source of Welfare
By: Richard Daughty, The MOGAMBO GURU
In short, apparently these countries need the price of oil to stay high to pay for their welfare expenses…which means that they will necessarily be raising oil prices again pretty soon…
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news.goldseek.com >> 4 April 2008 |
Another Bar of Golden Idiots
By: Richard Daughty, The MOGAMBO GURU
Well, then, you're an idiot, Frank! A big, stupid moron! In fact, all you stupid people in this bar are stupid, because you all think that you are not going to be destroyed by the fires of an inflationary hell…
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news.goldseek.com >> 3 April 2008 |
Insane Economic News of the Day
By: Richard Daughty, The Mogambo Guru
And as more Insane Economic News Of The Day (IENOTD), the Fed's personal stash of U.S. government debt is down another gigantic $48 billion last week! $48 billion! In one week! One freaking week!
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news.goldseek.com >> 2 April 2008 |
Financial Humor isn't Funny
By: Richard Daughty, The MOGAMBO GURU
Mr. Dunkelberg is more direct, and says that people who depend on their little bits of interest that they make on their saved money (like the elderly) 'are being screwed by the Fed'…
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news.goldseek.com >> 1 April 2008 |
The Voyages of the Economic Enterprise
By: Richard Daughty, The MOGAMBO GURU
Computer, research the economic history of the planet Earth and all the planets in this galaxy, and find any instance of a healthy economic boom that started after 'the biggest orgy of speculation and debt creation' the planet had ever seen!
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news.goldseek.com >> 30 March 2008 |
Kids Go to Gold Camp
By: Richard Daughty, The MOGAMBO GURU
How in the hell can the global glut of derivatives be 37 times as big as total, global GDP? Hell, just a yield of 0.1%, a tenth of a percent, would mean that $516 billion would be needed just to annually service the debt of that $516 trillion! Hahahaha!
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news.goldseek.com >> 28 March 2008 |
The Great Silver Sell Out Caper
By: Richard Daughty, The MOGAMBO GURU
I know that you think it is such a bargain that you cannot resist, and so I urge you to hurry, hurry, hurry to the Mogambo Silver Storage Service (MSSS), where our motto is, 'Send us the money, then we'll talk.'
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news.goldseek.com >> 27 March 2008 |
Ingesting the Polluted Ocean of Commerce
By: Richard Daughty, The MOGAMBO GURU
Now get this: Total reserves are $43 billion (about the same as it has been for more than a decade!), and out of that total, $17 billion of it is borrowed from the Fed! Hahahaha! We are so freaking doomed!
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news.goldseek.com >> 26 March 2008 |
Inflationary Economy Causes Massive Coronary
By: Richard Daughty, The MOGAMBO GURU
I am frantically pantomiming 'dialing the telephone' with the little mobility I have in my right arm, trying to get someone to call 911 to get me a little medical attention, and maybe save my life from the heart attack caused by such terrible news about inflation.
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news.goldseek.com >> 25 March 2008 |
Risk Management Addiction
By: Richard Daughty, The MOGAMBO GURU
I sat the kids down and told them that gambling with every dime I can squeeze out of anything is not 'gambling' anymore; it is 'risk management', and it is now obvious that I am a modern kind of guy seeking to "maximize risk-adjusted rates of return'!
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news.goldseek.com >> 23 March 2008 |
Sadly Repeating Economic Stupidity
By: Richard Daughty, The MOGAMBO GURU
And even if you COULD pay off everyone's debts, to have another boom with the existing structure left intact would require the same degree of economic stupidity all over again! And nobody is that stupid. Are they?
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news.goldseek.com >> 20 March 2008 |
A Bunch of Government Gobbledy-Gook
By: Richard Daughty, The MOGAMBO GURU
I am happy to report that Mr. Williams kindly does respond to requests from subscribers, and is now introducing the SGS-Alternate Unemployment Rate, which sounds like a bunch of government gobbledy-gook, which it actually is…
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news.goldseek.com >> 19 March 2008 |
Stepping Up the Spending Surveillance
By: Richard Daughty, The MOGAMBO GURU
I note with alarm that with the index at 1293, everybody who bought the stocks of this index since the third quarter of 2006 has lost money! Hahaha! Nice investing, dudes!
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news.goldseek.com >> 18 March 2008 |
Borrowing to Get a Better Bargain
By: Richard Daughty, The MOGAMBO GURU
And what percent of each class felt like they were so far in debt that 'they will never be able to get out'? Oops! Low income: 25 percent. Middle income: 14 percent. Upper income: 10 percent!
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news.goldseek.com >> 16 March 2008 |
Bad News for Tax Revenues
By: Richard Daughty, The MOGAMBO GURU
Losses on this kind of scale are the worst kind of bad news for tax revenues and those governments and recipients who depend on tax revenues, which rhymes so well that I am going to turn it into a Mogambo Hit Song (MHS)…
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news.goldseek.com >> 14 March 2008 |
The Dinosaur Gold-Standard Economy
By: Richard Daughty, The MOGAMBO GURU
The dinosaurs had a monetary system based on gold, which explains why the historical record shows absolutely no inflation in prices during the entire Jurassic period, and anyone who says otherwise is a lying bag of crap.
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news.goldseek.com >> 13 March 2008 |
In Phony-Baloney Money We Trust?
By: Richard Daughty, The MOGAMBO GURU
And the good news is that CD buyers are looking downright intelligent compared to the morons buying two-year notes, which have been bid up so high that they are nominally yielding less than 1.5%!
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news.goldseek.com >> 12 March 2008 |
Golden Lifeboats Flee the Titanic
By: Richard Daughty, The MOGAMBO GURU
Gold is essentially a rock! So why is it so valuable? Why do people always turn to gold at the end? The answer is that there is nothing else to take its place as a store of wealth that does not rot, corrode or disappear…
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news.goldseek.com >> 11 March 2008 |
Bernanke Gets it Backwards
By: Richard Daughty, The MOGAMBO GURU
The rise in retail prices is caused by…the Federal Reserve creating excessive amounts of money and credit. High prices, therefore, are the RESULT of the ridiculous excesses of the Federal Reserve, not the cause.
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news.goldseek.com >> 9 March 2008 |
An Apple a Day Will Kill You
By: Richard Daughty, The MOGAMBO GURU
An apple a day may keep the doctor away, as the saying goes, but you had better not say that anymore, either, because Big Pharma has yet to invent a drug that emulates apples, either!
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news.goldseek.com >> 7 March 2008 |
"It Makes Your Money Worthless - Guaranteed!"
By: Richard Daughty, The MOGAMBO GURU
There is no known example, in the history of the world, where a fiat currency was debased in a wild fractional-reserve multiplication by the greedy banks that did NOT end badly. And 100% of the time is as close as you can get to 'guaranteed'.
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news.goldseek.com >> 6 March 2008 |
Drunk With Absolute Purchasing Power
By: Richard Daughty, The MOGAMBO GURU
So if people could buy oil with gold, the price would have been unchanged for 60 years! Wow! Now you see the beauty of gold as money; prices never change! Your purchasing power is absolute!
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news.goldseek.com >> 5 March 2008 |
Gold Explosion in a Precious Metal Mine Field
By: Richard Daughty, The MOGAMBO GURU
With an M3 money supply of about $12 trillion, this means that if gold rose to $46,153.00 per ounce, the entire money supply could be 100% backed by gold! We'd get back to the gold standard required by the Constitution!
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news.goldseek.com >> 4 March 2008 |
A World Without Demand
By: Richard Daughty, The MOGAMBO GURU
Oops! Without demand, supply overwhelms supply, and prices plummet, and without new derivative sales to finance the existing clot of derivatives, things go from bad to worse!
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news.goldseek.com >> 2 March 2008 |
The Inevitable Doom of Inflation Targeting
By: Richard Daughty, The MOGAMBO GURU
But price increases of such magnitude that they have never been seen before? And in the food business, which means that prices for food will rise faster (and probably higher) than at any time in history? Yikes!
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news.goldseek.com >> 29 February 2008 |
Heads I Win, Tails I Break Even
By: Richard Daughty, The MOGAMBO GURU
And the borrowers just saw a chance to benefit by the bank's stupidity, and they borrowed the money on the 'heads I win, tails I break even' chance that they could later sell at a profit or walk away.
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news.goldseek.com >> 28 February 2008 |
TFC Goes Down on the Upside
By: Richard Daughty, The MOGAMBO GURU
But if TFC was plotted out on this mysterious logarithmic paper, the line on the graph would be sloping down, even though the line on the familiar linear graph of TFC would still be going up!
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news.goldseek.com >> 27 February 2008 |
The Euro Only Commits Misdemeanors
By: Richard Daughty, The MOGAMBO GURU
'Only' 15.6% inflation in prices! It's like your stupid children getting arrested, and they brag all the way home about how they haven't ever been charged with a felony, only misdemeanors, while their friends have all done hard time!
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news.goldseek.com >> 26 February 2008 |
Nearly Perfect Data
By: Richard Daughty, The MOGAMBO GURU
And for a little perspective, that $3.594 trillion in additional debt means that, at even 5% interest, the government is now paying out $180 billion a year, just in the additional interest payments on just this additional debt…
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news.goldseek.com >> 24 February 2008 |
Economic Miseries Measured by the Second
By: Richard Daughty, The MOGAMBO GURU
And if you wonder exactly what I mean by 'doomed', I will demonstrate by telling you that the video I am offering you is priced $499.99 today, but it will be $699.99 next year. You figure it out.
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news.goldseek.com >> 22 February 2008 |
401-Keg Plan Matures in Britain
By: Richard Daughty, The MOGAMBO GURU
Then I recall that the average retirement plan in America, like a 401(k), has somewhere between $25,000 and $60,000 in it, and I wonder how long that would last if one lousy chicken cost $15 million. Hahahaha!
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news.goldseek.com >> 21 February 2008 |
Learning How to Spell "Inflationary Depression"
By: Richard Daughty, The MOGAMBO GURU
Of course, now that actual reserves in the banks are (unbelievably) no longer required, financial corruption in the banks has now reached its zenith, as the banks are now totally free to create as much money as Ben Bernanke will let them…
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news.goldseek.com >> 20 February 2008 |
"Everybody Hurts" - Inflation's Theme Song
By: Richard Daughty, The MOGAMBO GURU
Mr. Sprott says that such a ridiculous scheme, "will inevitably fail due to an acute shortage of physical gold stemming from exploding investment demand, shrinking mine supply and diminishing western central-bank reserves", and that, "As a result, somebody is going to take a terrible hosing on the short side of the market. The antidote to the upcoming financial debacle is to own as much physical gold as you can procure."
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news.goldseek.com >> 19 February 2008 |
The Happy Mogambo Retirement Fund
By: Richard Daughty, The MOGAMBO GURU
They only want to talk about how they found out that the 0.5% deduction in their paychecks for HMRF is actually the Happy Mogambo Retirement Fund (HMRF), which means that I am taking money out of their paychecks for my own use.
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news.goldseek.com >> 18 February 2008 |
The Deadly Quicksand of Deficit Spending
By: Richard Daughty, The MOGAMBO GURU
It is then that the movie turns into a farce, as Ms. Pelosi is crying out, 'Quick! Give him some more money!' Hahahaha! Nice work, Ms. Pelosi! Groucho Marx would have been proud of us both!
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news.goldseek.com >> 15 February 2008 |
Prehistoric Problems With Fiat Currency
By: Richard Daughty, The MOGAMBO GURU
And it is made absolutely terrifying when you learn that all of the money that has been lost is, amazingly, borrowed and is still owed! Hahaha! This is the downside of having an economic system where debt creates money! Hahaha!
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news.goldseek.com >> 14 February 2008 |
Saddled By Electronic Pixie Dust
By: Richard Daughty, The MOGAMBO GURU
And it doesn't take a real genius to see that higher costs for producers means they will have to charge higher prices, which means that when Brits buy something from now on, they will pay higher prices.
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news.goldseek.com >> 12 February 2008 |
Oil Crisis Rush Hour
By: Richard Daughty, The MOGAMBO GURU
The dollar going down in purchasing power, which is the same as an increase in prices, has cost them 13% in one year, all thanks to the despicable Federal Reserve creating all that money and credit, so that the government could borrow it and spend it…
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news.goldseek.com >> 10 February 2008 |
Enough of this Economic Claptrap
By: Richard Daughty, The MOGAMBO GURU
Enough of this econometric claptrap crap! Lowering interest rates may send the stock of Mogambo Global Enterprises up, but the management (me) is still the same stupid embezzling halfwit who continually has us on the brink of disaster!
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news.goldseek.com >> 8 February 2008 |
The Fresh But Ephemeral Hell of the U.S. Economy
By: Richard Daughty, The MOGAMBO GURU
Not only have bank reserves not gone up in 10 years by so much as a dime, but the Treasury bonds that the Fed bought, by creating the money to buy them, are also disappearing! As Dorothy Parker so famously said, 'What fresh hell is this?'
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news.goldseek.com >> 7 February 2008 |
The Mogambo 'Big Budget' Movie Review
By: Richard Daughty, The MOGAMBO GURU
Well, he couldn't be more right about us spending ourselves to death, as the national debt is actually $9.1 trillion, already grown by $500 billion since he was interviewed for a movie so new that it just premiered! Hahaha!
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news.goldseek.com >> 6 February 2008 |
Golden Prices from Decreased Production
By: Richard Daughty, The MOGAMBO GURU
Ergo, the price of gold must equilibrate lower supply versus higher demand at a higher price! To those who own gold, or plan to own gold before things get kicked into high gear, this means, 'Wheee!…'
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news.goldseek.com >> 5 February 2008 |
Freaking Doomed by Doubling Power
By: Richard Daughty, The MOGAMBO GURU
Hoping that they were wrong, because this rate of inflation would be horrendous, I went to Mr. William's ShadowStats.com to find, sure enough, that inflation has taken a sudden spike to 12%, with no sign of stopping! Yikes!
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news.goldseek.com >> 3 February 2008 |
A Million Millions
By: Richard Daughty, The MOGAMBO GURU
The shock of the exclamation points, coupled with the revelation that the total losses are going to be at least 10 times as big as estimates project, temporarily revived me by jolting me into a Mindless Mogambo Episode Of Anger And Outrage (MMEOAAO)…
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news.goldseek.com >> 1 February 2008 |
Candy Vs. Currency: A Debate on Value
By: Richard Daughty, The MOGAMBO GURU
Hershey, 'the world's largest candy maker', has to raise its prices on a third of its chocolate candy by 13% because of the soaring prices of energy, milk and cocoa. And they are going to raise prices by 3% over Hershey's entire U.S. product line!
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news.goldseek.com >> 31 January 2008 |
The Tragic Tale of the Last Fool in Line
By: Richard Daughty, The MOGAMBO GURU
And the last guy, who may be otherwise known as the Last Fool In Line who bought at the exact top at the exact highest price, still has to find somebody to sell to at a profit, or the system goes into loss mode.
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news.goldseek.com >> 30 January 2008 |
An Indication the Economy is Lagging
By: Richard Daughty, The MOGAMBO GURU
And, worse, the Lagging Indicator has been outdistancing both the Leading and Coincident indicators for months and months, too, indicating that costs are going up. And they were. And they are. And they will continue to do so.
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news.goldseek.com >> 29 January 2008 |
Bernanke's Magic Money Button
By: Richard Daughty, The MOGAMBO GURU
Fortunately, I was heavily sedated and in a straightjacket at the time, tied to a chair as the minimum precautions to watching Federal Reserve chairmen appearing in public, especially in front of one clueless Congressional bunch of yahoos or another.
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news.goldseek.com >> 27 January 2008 |
Keynesian Quackery
By: Richard Daughty, The Mogambo Guru
And now some piddly $150 billion is going to make a big difference in preventing the overdue bust at the end of the biggest boom the world has ever seen? Hahahaha! Stop! I'm laughing so hard my stomach hurts! Hahahaha! Stop! Stop! Hahahaha!
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news.goldseek.com >> 25 January 2008 |
The Bank Robbing Effect of Financial Desperation
By: Richard Daughty, The MOGAMBO GURU
The point is that not only is bank robbing 40% more popular by 40% than last year, but the FBI used to solve 75% of bank robberies in 2003, but only about half now.
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news.goldseek.com >> 24 January 2008 |
A Piddly $4.4 Billion 'Drop in the Bucket'
By: Richard Daughty, The MOGAMBO GURU
OF COURSE $4.4 billion is not enough! The economic system and the players in it have to absorb trillions of dollars of current and future losses! A piddly $4.4 billion? Hahahaha! Talk about your proverbial 'drop in the bucket'! Hahaha!
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news.goldseek.com >> 23 January 2008 |
Avoiding Responsibility
By: Richard Daughty, The MOGAMBO GURU
And let's not forget that this lying lowlife loser, St. Louis Federal Reserve President William Poole, is a guy about whom Marketwatch.com reports, 'Last year, he voted in favor of all the FOMC's rate cuts'! Hahaha! What a creepy little worm!
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news.goldseek.com >> 22 January 2008 |
Oil Battles Gold for Investment Supremacy
By: Richard Daughty, The MOGAMBO GURU
Naturally, even a bonehead like me knows that a one percent chance is not very good, and I saw that my chances of him coming across with that cool thousand bucks was now slipping away.
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news.goldseek.com >> 21 January 2008 |
The Golden Commodity Compass
By: Richard Daughty, The MOGAMBO GURU
You will be glad to know that we have given up slaughtering American natives, although we keep our skills up by killing thousands of natives in OTHER countries, but we don't do it for gold. Nowadays, we do it for money and oil.
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news.goldseek.com >> 18 January 2008 |
The Futility of the Economic Weatherman
By: Richard Daughty, The MOGAMBO GURU
Federal Reserve chairman Ben Bernanke has no such qualms about shame, and said he is ready to take "substantive additional action", which the media and markets took as saying, 'Rates are going down, dudes!'
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news.goldseek.com >> 17 January 2008 |
Let Gold Yell For You
By: Richard Daughty, The MOGAMBO GURU
And what the chart shows, but nobody is saying, is that it wasn't until 1960 that the Dow high, again rose high enough to equal the very peak in 1929. 'Investing for the long term'! Hahaha!
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news.goldseek.com >> 16 January 2008 |
Stealing Metaphors for Excess Money
By: Richard Daughty, The MOGAMBO GURU
So, if inflation in prices is not caused by a depreciating dollar or monetary policy, then Mr. Central Bank Governor Sultan Bin Nasser al-Suwaidi better find out what in the hell is causing it, and pronto!
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news.goldseek.com >> 15 January 2008 |
Free Money to the Rescue
By: Richard Daughty, The MOGAMBO GURU
And when that government check hits my mailbox, brother, I'll show you exactly how giving people free money stimulates spending! Whee! Insanity in economics is fun! And it will be ironically profitable if you use the money to buy gold! Whee!
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news.goldseek.com >> 11 January 2008 |
Incredible Inedible Ethanol
By: Richard Daughty, The MOGAMBO GURU
An entire third of the grain output of the American farm system will disappear from the world's food supply? On top of the terrifying increases in prices we are already seeing? Yow! We are totally, totally, totally freaking screwed!
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news.goldseek.com >> 10 January 2008 |
Free Money is Surprisingly Popular
By: Richard Daughty, The MOGAMBO GURU
Not surprisingly, 'The Fed announcement indicated that the auction process it began last month has been successful in providing a source of loans for cash-strapped banks.' Hahaha! Free money is popular? Hahaha! Who knew? Hahaha! Popular?
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news.goldseek.com >> 9 January 2008 |
"Will Work for Taxes"
By: Richard Daughty, The MOGAMBO GURU
Instead of the town saying, 'Oh, my God! What kind of ravenous vampires have we become?' and lowering their…damned taxes, 'The town is pushing a program that would let seniors work part-time…to help pay off some of their property taxes.'"
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news.goldseek.com >> 8 January 2008 |
The Cornered Rat Defense of Inflationary Collapse
By: Richard Daughty, The MOGAMBO GURU
You gotta admit; it seems to be a compelling argument; the money supply will fall as loans go bad, which means consumer prices will fall. And with loans going bad, nobody is going to either make a loan or take one, and so the money supply will not grow.
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news.goldseek.com >> 6 January 2008 |
The Increase of Deadweight Losses
By: Richard Daughty, The MOGAMBO GURU
The beauty of a gold-as-money economic system is that inflation in prices is all but impossible under a gold standard under normal conditions with a restrained banking system, and…ruinous inflation is inevitable under a fiat currency standard.
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news.goldseek.com >> 3 January 2008 |
Well Worth the 20 Bucks
By: Richard Daughty, The MOGAMBO GURU
Now you know just a teensy, weensy part of the reason why the Fed is creating so much money and credit; they have to, just to pay the interest on the debt! All of which will turn into, I am sorry to say, inflation in prices.
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news.goldseek.com >> 2 January 2008 |
Paying More for Less Beer
By: Richard Daughty, The MOGAMBO GURU
And don't look at me with that incredulous look on your face! I mean, the average stockholder and the average bondholder have been continuously losing money for years and years! They don't raise a stink because they don't know it…