The Comedian's "Economic Holocaust" ping list...
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
Posted on 11/14/2010 3:14:18 PM PST by Whenifhow
GOLD & SILVER - The Final Countdown - Get prepared don’t hesitate. PART 1 -
http://www.youtube.com/watch?v=Do3kzXLfE4A
GOLD & SILVER - The Final Countdown - Get prepared don’t hesitate. PART 2 -
http://www.youtube.com/watch?v=ctTtYBX_JSo
bfl
Shorting silver means you expect the metal to decrease in value.
With the trillions in dollars that the Fed is floating, the price of silver should continue its climb.
Don’t invest in gold or silver, invest in lead.
This is all supposed to happen like, tomorrow?!
Not for me to say when - listen to the video and prepare.
It’s not that simple.
Gold and silver are more correlated with FEAR of economic decline, not inflation the way some think.
later
Bring it on. Get it over with!
Tired of hearing the doom and gloom and then nothing happens.
Fear drives the day to day and week to week swings.
Inflation determines the long term trend line.
If gold and silver can’t hack it as currencies, basically because there is not enough of either of them to be used as currency, there is a sensible alternative, one that is both legal, was used extensively during the Great Depression, and is very stabilizing and practical, at the local level.
It is called ‘scrip’. It is an alternative, or complementary currency, that is not legal tender. It is based solely on the credibility of the issuer as a person or group that can be trusted by other people.
The more businesses that accept a scrip, and the more people who use it, the more powerful and effective it is. When used properly, it can keep local government and markets functioning.
It is also a tightly controlled currency. It does not suffer from inflation or deflation. Prices are fixed. And the currency can be recalled or reissued at any time. During the Great Depression it was used hundreds of times, and greatly improved the lot of people in its area that used it.
Today, a modern version of scrip could even be printed on plain paper, with little or no worry that it could be counterfeited or used in the black market. This is because the reverse of the scrip would be printed with a (public domain) encrypted data matrix bar code. Data matrix bar code readers are common.
http://en.wikipedia.org/wiki/Data_matrix_(computer)
How does scrip work?
People take dollars to the scrip issuer and get scrip in return, at the fixed exchange rate. Even if the dollar inflates, the scrip retains its value. Retailers sell goods for scrip at a fixed price, or include their own discount, and are able to buy more goods from producers for scrip as well. Then the producers redeem their scrip for dollars from the issuer.
While the issuer has a bunch of dollars, he can use them to bulk purchase goods (like pharmaceuticals) not made in the region. This gives the most efficient use for dollars. These he can then provide to retailers just like a producer. This also gives participating retailers exclusive goods that no other retailers carry.
Because of the encrypted bar code, scrip can be registered as the property of a particular person. It remains theirs alone until it is scanned, and the owner enters a PIN number to verify the sale.
Even the value of a scrip bill can change automatically, to subtract sales taxes. Some scrip bills lose 2% of their value automatically each month, to discourage hoarding.
And ironically, people who are now saving gold and silver should not in any way see scrip as a threat to their assets—in fact, scrip *protects* the value of their gold and silver. It provides an exchange system in which they can cash it in if they need to, so they can have the common currency. In other words, they can make change, which matters if you have an ounce of gold, yet just want to buy a dozen apples.
So they should become as familiar as they can with scrip.
Importantly, though, the one thing that is forbidden is for people to try and *base* their scrip on gold and silver, because this will summon the federals like nothing else. So the gold and silver have to remain on the periphery of the system—which is probably fine and dandy with those who have gold and silver.
Today, a modern version of scrip could even be printed on plain paper, with little or no worry that it could be counterfeited or used in the black market. This is because the reverse of the scrip would be printed with a (public domain) encrypted data matrix bar code. Data matrix bar code readers are common.
http://en.wikipedia.org/wiki/Data_matrix_(computer)
How does scrip work?
People take dollars to the scrip issuer and get scrip in return, at the fixed exchange rate. Even if the dollar inflates, the scrip retains its value. Retailers sell goods for scrip at a fixed price, or include their own discount, and are able to buy more goods from producers for scrip as well. Then the producers redeem their scrip for dollars from the issuer.
^^^^^^^^^^^^^^^^^^
Thanks!
And the issuer gets rich.
bump
Thx for the pings.
Make sure you stock up on FRN’s, they taste great when boiled...
“Bring it on. Get it over with!”
I’m starting to feel that way as well. It’s too late in a lot of areas, so it’s best to let nature take its course so we can rise from the ashes and move on as soon as possible.
Being in ‘limbo’ is getting hard too.
Devaluing The Dollar... GOLD & SILVER - Alert
Article, then # 2 , and # 11 .
Scrip? Are you kidding? Unless you have a fanny that needs wiping with worthless paper, I’d stick to money!
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