Father and Gramps used to have some terrible arguments about gold. Gramps was an old Bryan supporter and made the cross of gold argument all the time with Father. Father said he would keep his gold just the same.
Unfortunately Father bought stocks on margin in 1929. When the crash came we had to move out of the city house onto the farm. If he hadn't had his gold I think we would have starved during the 30's.
Of course that experience taught some lessons about the goodness of the land and gold's ability to keep folks solvent during the depression.
Darn Islamics and Asians buying all the gold, and the government hiding the M-3 money supply figures from the public so they can print all the money they want to. The working man in this country is getting it from every end.
Oh well. Still got the farm, still got the gold and still have most of my teeth.
HG
This recent non-stop gold launch began almost immediately after the M-3 announcement. There's a possibility that the new Dubai gold exchange, online as of last week or the week before, is having some impact. Whatever the case, it's starting to feel like someone somewhere knows of a critical impending change in world economics.
And note that the government hasn't even started "hiding" the M3 numbers. They won't be "HIDING" them at all, but they don't stop reporting them until march of next year.
They official position is that M3 won't be reported anymore because it is a useless piece of information.
I'm not sure how not knowing the extra value of large CDs and repurchase agreements allows the government to print more money (which is covered under the M0 number) or relaxing credit (covered under M1/M2)
Father and Gramps used to have some terrible arguments about gold. Gramps was an old Bryan supporter and made the cross of gold argument all the time with Father.
Insanity does run in some families. It's a miracle Grandma didn't take the side by side to the both of 'em.
Unfortunately Father bought stocks on margin in 1929.
I guess he can't claim to be an economist either.
Darn Islamics and Asians buying all the gold
I guess only aryans should have the bling.
The working man in this country is getting it from every end.
Gee, that's new, different, and original.
Still got the farm, still got the gold and still have most of my teeth.
How could Maslow miss these in his hierarchy of needs?
Sheesh....
If you were half as bright as a bar of gold, you'd be ok.
Do you know what the gold vs. silver argument was all about?
"Unfortunately Father bought stocks on margin in 1929. When the crash came we had to move out of the city house onto the farm. If he hadn't had his gold I think we would have starved during the 30's."
Your Dad's gold was confiscated by FDR in 1933.
Maybe so, but you would have been much better off with government bonds or even cash. Your grandfather and W. J. Bryan were right --- the overwhelming majority of people benefit from a low level of inflation, whereas gold is inherently deflationary.