Posted on 12/06/2005 11:25:43 PM PST by Capitalism2003
The great real estate Chicago BUBBLE, which burst in 1873, wasn't due to banks issuing more credit than they had gold to back it up with and the ensuing recession came on the heels of that bust BUBBLE.
The Panic of 1836-37 had nothing whatsoever to do with credit or loans. Like many other panics, recessions, and depressions, world affairs are involved.
And then, there have been the speculators, who have tried to or actually did "corner the market" on different commodities, which have fueled manias and then recessions and depressions.
In that case, you may want to consider SILVER, which has heavy demand from dozens of industries, and is in extremely short supply today. Some say there is less silver above ground than gold, yet despite the recent rally, it is still only 1/60 the price.
BTW...I don't shill for anyone or anything.
But thanks for the rest of your post.
But it was also partly fueled by events in England. President Andrew Jackson said so, as did others.
Well, I'm impressed :-O
Hoyt's analysis of this is indispensable and is also very helpful in understanding many other events; including Black Monday and the Japanese stock market crash of 1990.
It's true...how many here were on an exchange floor that day?
And NOT worth the M3 supply.
Of course there is something backing up the dollar that no one seems to think about. Ever wonder why there is so much federal land?
I just post facts and trash the goldbuggers. :-)
No, he's not. In fact, this article by him is rubbish. Goofball didn't even show up to vote against Murtha's "cut and run from Iraq" bill a few weeks ago.
I experienced it as a tourist activity, but if you check it out seriously, gold panning is legal on most federal lands. You can look for gold without a permit if you use shovel and pan and smaller equipment like rockers and sluices (I think). But dredging requires a federal permit.
In tourist areas, you can get a few dollars worth - at least that's what the owners of the place put the value on the gold flecks that you pan.
Panning is actually cold, back breaking work - you slosh around in cold gravel streams, bent over your pan looking for "color". It can be exciting, but requires patience, practice, and luck.
With gold at around $500/oz. I suppose it's more rewarding now....8-)
Wall Street is not a machine, and the tech bubble was nothing more than tech companies, one after the other, becoming publically traded companies. The tech industry has become completely saturated since then by either themselves merely existing, the fluidity of technological advancements, mergers, diversity (by companies like IBM for example) and bankruptcy.
And to be perfectly honest, the tech bubble was all driven by media hype over a new household luxury called "the internet". It's no coincidence, in my estimation, that this so called tech bubble started when the internet become a household luxury that anyone with a computer and a modem could readily enjoy.
So I've got some money looking for a home but I thought I'd hang out in cash for a bit and see what happens with bonds.
But I'll continue to keep an eye on it, thanks.
The assets of the U.S. government are certainly worth vastly more than a few tons of refined yellow metal in a safe.
And NOT worth the M3 supply. >>
Of course it is. By definition.
Of course there is something backing up the dollar that no one seems to think about. Ever wonder why there is so much federal land?>>
What do you think I meant by "assets"?
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.