Date: Mon, 16 Feb 2009 16:16:44 -0800 (PST) From: Mervyn Lobo <mervynal...@yahoo.ca>
Marlon, The date on the above video, March 17, 2002 (St. Patrick's Day) has a special significance me and other gold bugs. I was in a pub in Napa Valley, California watching the faith based leader when the woman who was courting me said, "You know what, this guy is going to ruin the USA and the US dollar." That was the last day gold was at $292.00. The price of gold never returned to that price. In fact, it has tripled since. Coincidence? Mario observes: Is it coincidence, or the fourth explanation of how Mervyn picked the low price for gold way back then. As he explained in an exchange with Roland, the other three were, a) he looked at price charts in 2008 to find the low price of gold in 2002, b) he learned that all the central bankers, who are idiots by definition according to Mervyn, were selling gold, which told him he should be buying gold, and c) he figured out the low price of gold by working harder than everyone else, just like he did when catching more crabs than anyone else in Tanzania. Now we learn that he learned that gold would was at it's low point when being courted [???] by a woman in a pub in the Napa Valley:-)) Arre, vah! Kamaal hai! as they say in the slums in India. Mervyn wrote: As you know, all the major US banks have failed and are kept open today only because the US uses taxpayers money to support them. Mario responds: This is simply factually incorrect. To begin with there are some 7,600 banks in the US, in addition to over 8,000 credit unions. None of the banks have failed. Out of all these there were 116 banks that accepted federal bailout funds as of year-end 2008. If they had not been bailed out by the lurch towards socialism in the US most of the banks that had made bad decisions would have been acquired or merged with other banks, and their managers and stockholders would have paid the price as they should in a free market system, and the rest of the country would have been better off. Mervyn wrote: According to my newspapers today, the world is now looking to the socialist countries of Canada and Spain for the future of banking. Mario responds: Socialism has failed miserably in the long run wherever it has been tried. If socialism was the answer all its previous major proponents would not have relegated it to the thrash heap of history where it belongs. Marlon knows all this, or should, but, as we see once again, he is toothless in responding to balderdash by one of his cronies.
