Posted on 02/01/2016 3:14:38 PM PST by blam
I know! I think he was using Tec-9’s with lasers!
<8{o
I encourage you to take seriously the central bankers, as they are the ones who own the printing presses that can only impoverish you.
"The conclusion that deflation is always reversible under a fiat money system follows from basic economic reasoning. A little parable may prove useful: Today an ounce of gold sells for $300 [ed note: this was 2002], more or less. Now suppose that a modern alchemist solves his subject's oldest problem by finding a way to produce unlimited amounts of new gold at essentially no cost. Moreover, his invention is widely publicized and scientifically verified, and he announces his intention to begin massive production of gold within days. What would happen to the price of gold? Presumably, the potentially unlimited supply of cheap gold would cause the market price of gold to plummet. Indeed, if the market for gold is to any degree efficient, the price of gold would collapse immediately after the announcement of the invention, before the alchemist had produced and marketed a single ounce of yellow metal.
What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation."
$8000 gold in the era of $40 a barrel oil seems unlikely.
$8000 gold in the era of $40 a barrel oil seems unlikely.
Back in the 1930’s people trusted the government, they (including Republicans) felt if president Roosevelt believed that by turning in their gold it would help the country get going again, then by golly it is their patriotic duty as Americans to turn it over.
Very few people (not even Liberals) would feel the same way today if Hillary or Bernie gave such an order. Unless Gold went to $10,000+ an ounce, it would cost more trying to track everybody’s gold down that it wouldn’t be worth it.
Plus, today there is a much bigger, more tempting target for the government to go after that FDR only wishes he had. 401Ks
I buy Morgan Silver Dollars 1922 uncirculated.
Gave those out to my friends and family as Christmas Gifts.
Always keep one in my pocket as a good luck charm.
Imagine how fragile a cashless society is. Knock out the data transfer and all trading stops. No food, fuel nothing.
Don’t get me wrong - I own some physical gold as insurance,and I despise central banking. It’s just that I tire of the voices prodding me to buy more and more, like that dope Eric King at KWN, are tiresome with their preditions. One day gold will be that bridge to a new monetary system, but the gold permabulls at ZH and KWN ought to tone it down.
These sorts of predictions are an indicator that something undesireable is about to happen.
All is not well.
Exactly.
That has been my thinking for the last decade.
Unfortunately, the thieves who run the financial world seem to have anticipated that.
I think that is precisely why you are suddenly seeing stories about 'outlawing cash.'
Can't have the little people thinking they don't have to bow the knee like the rest.
You bought 20oz of copper?
Yes. If a currency actually flops then copper becomes valuable for exchange just like it used to be.
Back in 1797 a US penny was one ounce of copper.
What did that cost you if I may ask?
The copper was about $1 per ounce and the silver was a bit less than $18 an ounce.
This is the place I order from and you can check it to see their current prices.
http://www.providentmetals.com/
Thanks.
I enjoyed a nice laugh at this. Learn some economics.
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