Posted on 01/13/2006 1:17:20 PM PST by Travis McGee
dope
Hey - you are the one paying $56 for a Chinese meal.
At least you are vaguely in touch with the gold price
Watch the Chrissy Mathews show. It's actually been very very watchable. He's been covering Iran's nukes for the last two days
Thanks and ping and read the posts below
And you may have a scintilla of a sense of humor which you have not yet demonstrated.
I just bought my first 1/10 oz Eagle yesterday! I bought it just to feel it and see it and show it. (I don't leave the big ones around!)
In my new novel, small gold coins are going into circulation just as you mentioned. The coins are minted at Indian casinos, where they are happy to take gold in trade from gamblers. The casinos become freewheeling money and gold changing centers, where the devaluing paper money is changed for gold coins.
And yes, that Chinese restaurant would be MORE than happy to take a couple of 1/10 OZ gold pieces in return for a magnificent private room dinner for 10. They would use a calculator and figure the value of the gold in several currencies as fast as you could run a credit card.
You are my friend so keep your eye on US debt and keep your eye on gold. Gold is real money. Play your paper and plastic (credit card) games but gold is real money
You have a good memory and are so correct. Don't forget the complicity of the MSM who purposefully ignored positive economic developments until after the election.
Anyone who does not look at the chart at #35 and not take it like a bucket of cold water in the face is in a coma.
I think I have an extra not in 51.
By printing more money and dropping it from helicopters.
Shhhh! Better not let the sheeple know. Maybe we better stop releasing M-3 data.
This is not the same country it was 20 years ago.
Then we were a creditor nation. Now we are a debtor name.
Then we produced things. Now we consume them.
And so on.
Point one: Our currency has not been debased, but the value storage medum has changed from gold to GDP. It is not a big change as the only requirement is that a currency be backed with some form of value storage.
Point Two: If we printed more currency than our GDP would allow, we would experience inflation, less and we would experience deflation. Printing more money than we have in value storage, (generally for the benefit of government programs) would be a debasement of our currency. Simply trading one value storage medium for another is not debasement.
Point three: Since the Humphrey-Hawkins act has been permanently placed in the freezer for the future, the Federal Reserve, under the leadership of Paul Volcker and Alan Greenspan, have busied themselves with only one primary objective: To tabilize prices. THAT IS THE ROLE OF THE CENTRAL BANK, IN THIS COUNTRY AS WELL AS OTHERS. To adjust money and credit supply to match the available value of value stored in our GDP.
Point Four: Gold will never again be the backing for currencies. There just isn't enough gold to go around and the value can be easily manipulated by large holders of the metal. It is worth less industrially as it has been replaced by other metals that are more available and easier to use in industrial applications.
Point five: Credit is money. There is actually a very small amount of paper and coin currency in circulatiom. Most transactions are handled through credit cards and loans. I have heard that less than 5% of the transactions in the US involve specie and I suspect it is less than that.
Point six: The Economist is, in some ways, a holdover from the time when most economists, because most of their funding came from the Feds, were substantially left wing and many of them were socialist. This has started to change because of the successes of the "Supply-siders" (Classical economists). The Economist has been warning the world of the impending death of the American economy since the Reagan administration and they have been consistently wrong. I cancelled my subscription because I felt that they had become agenda driven or had become ossified due their presence in and their outlook for the EU and thier particular regard for the socialist policies that the EU has pursued.
Many of their insights into the American economy have not been dead wrong, but 180% wrong. And I refuse to pay for that level of expertise, no matter how prestigious the publication.
Bull. I have been living on Lewis Farrakan's earth orbiting cylinder, quite happily I might add.
BTW, did you remember to stop by the store and buy some gold about six months ago?
Chinese people and Indian casinos are working at a true instinctual level. Of course they know the value of gold and gold coins
You have a great scenario there for your novel. Where Injuns become gold to cash brokers
superlative
I'm feeling good tonite because Chrissy is defending Alito and has been talking Iran/nukes
THANKS CHRIS MATTHEWS AND I MEAN THAT
Thank you
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.