Gold is their competition. Paper money based soley on paper money always becomes worthless at some point in time.
Posted on 09/23/2007 1:50:53 AM PDT by joefrocks
Read Jim Roger’s book. There is a commodity bull market going on. Accept it or not. I don’t care...
It is a dollar denominated “bull” market. There is a “bull” market in groceries and in oil, too. It’s called “inflation.” Creating ever more dollars at a rate higher than the market requires raises commodity prices and most other prices, too. And some people think they are getting rich because they have a few more dollars than they did last year.
Know your risk is infinite while mine is finite and defined.
LOL!
You do see where I'm going here... don't you? You need to stop wasting your time "lecturing" me and read some good books. Jim Roger's book would be an excellent start.
I’ve never heard of half of these guys that get their witch doctorates posted here. And I’ve been in the business 30 years.
Gold is their competition. Paper money based soley on paper money always becomes worthless at some point in time.
Well they sure haven’t been able to hold it down this time. It’s funny that they can’t, because they have all the money. Of course it could be that they aren’t trying to.
Alan Greenspan seemed to say that they are.
"Greenspan waved off the necessity for the CFTC to regulate gold derivatives, telling Congress to fear not, that the “central banks stand ready to lease gold in increasing quantities should the price rise.”
http://www.financialsense.com/editorials/casey/2007/0125.html "
It catches my attention that the quote is selectively presented. What came before the quotation marks? Probably not the words "fear not". I would have to see the whole testimony in its proper context to give it any validation.
Your source, Doug Casey, is a stock tout who makes money selling hot stocks, or stock tips, to suckers. Why should I believe anything he says?
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves." - Allen Greenspan - 1966
http://www.lewrockwell.com/north/north204.html
Of course I do. Those conditions are all the same thing. Supply is always “scarce” else there would not be “price.” Price rises because there is more money chasing the available goods both because there is more use and because there is more nominal money “printed.” There are several books I used to proffer for the edification of people with half an education and half an insight. But perceptive folks usually find them on their own and others can’t handle dry economics. Reagan was our most successful president economically because he one of two or three who have understood economics and was the only president with an Econ degree.
It is not even good as toilet paper- too scratchy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.