Tuesday, 12/24, Market WrapUp(The Bear is Coming After California)

Financial Sense Online ^ | 12/24/2002 | James J. Puplava

[cibco]

Thanks and MERRY CHRISTMAS!!! :0)

[snopercod]

When my father first came to this country, it was possible to support a family on the wages of one spouse. Today for most American families the husband’s wages pay the bills and the wife’s salary goes to paying the taxes

Things used to be better, and can be again.

[snopercod]

Only $401? I'm still waiting for the price of gold to get back up to $520 where I bought all those Krugerrands in the 80's. I just hope I don't die before I break even.

Food for thought Dept.:

"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation... The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves...Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process."

--Alan Greenspan, Gold and Economic Freedom July 1966, The Objectivest

It seems clear to me that the war on Iraq, the new Homeland Security Department, and all that will not be paid for via a tax increase. Neither will it be paid for via a booming economy. That only leaves the method of choice for politicians through the ages: Inflation.

[arete]

This guy probably sees black hellicopters outside his house.

As a matter of fact, there are black helicopters outside my house.

Richard W.

[rohry]

"As stated on this thread did you read the wager as I did?"

No, but I'm not anal enough to parse statements that seem clear in their intent...

[rohry]

"So far the FED hasnt mismanaged anything..."

Welcome to Free Republic...your sense of humor will be much appreciated here...

[B4Ranch]

Norfed Liberty Dollar

Has anyone heard about this Liberty Dollar?

[rohry]

"Has anyone heard about this Liberty Dollar?"

Nope. Make sure you read the disclaimer at the bottom first though:

Disclaimer: Gold and Silver Libertys are neither legal tender, money, "current money" nor coins; they do not resemble nor appear to be coinage minted, issued, authorized, or approved by any government agency; and do not relate to taxation or avoidance of taxation. They are privately minted one-ounce gold and silver examples of the goods on deposit for the NORFED warehouse receipts.

That means that they may reneg on delivery if the price goes through the roof...

[DarkWaters]

'And yes Freepers the Gold Standard is a horrible idea. It was one of the major contributors to the Great Depression.'

If this is true as you say then prove it. Give the reasons why this is so rather than stating a point. The Gold Standard by the way prevented the government from inflating the currency without consequence. Paper money will always go to zero if you keep printing it and their hasn't been a government yet that has not eventually given in to this temptation. Simply linking the currency to gold greats currency stability(i.e. no large VIOLENT swings in prices to either way at least without a place where your money won’t suffer from the actions of government) and as I am sure you know stability is key to one's economic, social, political, and military structure.

If the Gold standard is guilty as charged, and this is a serious charge, then please give the reasons why and back them up with sound logic and/or links that take a historical perspective.

[Tauzero]

A broker I know is installing a big natural gas tank in his home...

[Tauzero]

"The primary anti-deflation tool to be used during periods of threatened or real deflation price-wise is GOLD."

Governments are always the last institution to react. By the time they do anything like restore the gold cover clause, the deflation will indeed be over.

[Tauzero]

"They have prevented the economy from falling deeper"

Pure BS. All the Fed can do is follow the market. Anything else just makes things worse.

[Tauzero]

"why is it Freepers are always so negative on the economy?"

I don't think it's necessarily true that they are.

But if they are, perhaps it is because they don't buy all the crap in the mainstream media.

[Tauzero]

Yes, I've heard of that. I prefer physical possession of the metal.

No counterparty risk, as another alluded.

[4Americaslove]

"No, but I'm not anal enough to parse statements that seem clear in their intent..."

Yes, the statement is very clear as to what the wager is. Too bad that not enough people have that modicum of intelligence to comprehend it.

The wager is very clear as to its terms. No need to parse words. Too bad you do not comprehend declarative statements.

[headsonpikes]

I was browsing a volume of my 11th edition Britannicas yesterday P.M. when I came upon the article 'Money'.

It has a wonderful discussion of the virtues of the gold standard money system and why it had replaced all others.

I don't know if it's available on the net or not.

The only practical problem with the gold standard is the inelasticity of wages in a constantly price-dropping world, as would likely be the case.

[AdamSelene235]

So far the FED hasnt mismanaged anything.

why is it Freepers are always so negative on the economy?

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