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2011 – The year when money starts to die
http://www.financeandeconomics.org/ ^
| Alasdair Macleod
Posted on 01/05/2011 9:54:25 PM PST by dollarbull
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Kansas City Fed Gov out today saying gold standard is "legitimate".
Paperbugs getting nervous?
To: dollarbull
2
posted on
01/05/2011 10:00:18 PM PST
by
wendy1946
To: wendy1946
The value of the fiat dollar is what is based on psychology.
Gold has a 5000+ year history of being valuable. You cannot reconcile that with your beliefs...cognitive dissonance if I’ve ever seen it.
3
posted on
01/05/2011 10:04:30 PM PST
by
dollarbull
(why are paperbugs so bad at history?)
To: wendy1946
There has never been a time when Gold was worth nothing.
4
posted on
01/05/2011 10:08:11 PM PST
by
BooBoo1000
(" Let go, and Let God")
To: BooBoo1000; wendy1946
There has never been a time when Gold was worth nothing.
Correct. And paper money becomes worthless EVERY time.
Wendy doesn't get it
5
posted on
01/05/2011 10:10:53 PM PST
by
dollarbull
(why are paperbugs so bad at history?)
To: dollarbull
Martin Armstrong has written some great things lately. He was held in prison on contempt of court in one of the weirdest cases in history.
http://www.martinarmstrong.org/economic_projections.htm
He said govts have been defaulting on debt for over 2,000 years. The American public is so manipulated by the media especially TV - ALL of TV is garbage including Fox. CNBC is the worst. I am so glad I dumped TV over a year ago.
If you want to learn something more about this:
http://www.youtube.com/watch?v=WKTQze2UKWc
6
posted on
01/05/2011 10:15:23 PM PST
by
Frantzie
(Slaves do not have freedom only the illusion of freedom & their cable TV to drool at)
To: BooBoo1000
There has never been a time when Gold was worth nothing.
There's always a first time. For example, if you and one other guy were stuck on a desert island with two loaves of bread, would you sell your loaf to him for all of his gold? I doubt it. If we experience financial collapse in this country, which would most likely also mean financial collapse of the world, what will gold truly be worth? Or would barter be better?
7
posted on
01/05/2011 10:38:40 PM PST
by
fr_freak
To: fr_freak
People will barter (trade). They will trade whatever they have for whatever they need.
8
posted on
01/05/2011 10:46:00 PM PST
by
Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
To: fr_freak
If we experience financial collapse in this country, which would most likely also mean financial collapse of the world, what will gold truly be worth? Or would barter be better?
There have been literally 100s of financial collapses in history. Gold always holds its value and paper money always fails.
OTOH, no one has ever been trapped on a deserted island with gold, bread and a stranger.
To each his own...but those that know their history can see what's coming.
9
posted on
01/05/2011 10:47:42 PM PST
by
dollarbull
(why are paperbugs so bad at history?)
To: wendy1946
Wendy is absolutely correct: “the value of gold is entirely based on psychology”.
Federal Reserve Notes are much, much more secure than gold because they are backed by US Treasury securities, which are in turn backed by the full faith and credit of the US government. Well, they used to be ... now there are bunch of junk mortgages backing US dollars, but there are still a whole lot of US Treasury securities on the Fed’s balance sheet.
So the question is, which do you put your faith in, gold or the US government?
To: dollarbull; wendy1946
Of course. The value of every economic thing is "based on psychology."
11
posted on
01/05/2011 10:53:25 PM PST
by
Erasmus
(Personal goal: Have a bigger carbon footprint than Tony Robbins.)
To: wendy1946
Again the problem... the value of gold is entirely based on psychology and psychiatry and not on economics and physics. The danger is that the world could wake up to that reality.Dream on. You can stick with Keynes and the Experts in Washington. A Psychological aberration that has persisted universally for in excess of 5 millennias is probably at least as reliable as the wonderfully rational fiat money of the government experts for so long as there have been governments and has been very reliably debased to the destruction of systems and empires over and over again for almost that same period of time.
12
posted on
01/05/2011 11:03:01 PM PST
by
arthurus
(Read Hazlitt's "Economics In One Lesson.")
To: wendy1946
Again the problem... the value of gold is entirely based on psychology and psychiatry and not on economics and physics. The danger is that the world could wake up to that reality.Dream on. You can stick with Keynes and the Experts in Washington. A Psychological aberration that has persisted universally for in excess of 5 millennia is probably at least as reliable as the wonderfully rational fiat money of the government experts for so long as there have been governments and has been very reliably debased to the destruction of systems and empires over and over again for almost that same period of time.
13
posted on
01/05/2011 11:03:21 PM PST
by
arthurus
(Read Hazlitt's "Economics In One Lesson.")
To: dollarbull
OTOH, no one has ever been trapped on a deserted island with gold, bread and a stranger.
Really? You're absolutely sure about that? Well, let me tell you a story, then. It all began with a 3 hour tour...
14
posted on
01/05/2011 11:14:40 PM PST
by
fr_freak
To: wendy1946
Only Government can take something as useful as paper and make it worthless by adding ink to it.
Unless you think this "can never happen here" that is:
To: Secret Agent Man
People will barter (trade). They will trade whatever they have for whatever they need.What happens if the person that has what you need doesn't need what you have?
16
posted on
01/05/2011 11:23:41 PM PST
by
Antonello
(Oh my God, don't shoot the banana!)
To: Antonello
What happens if the person that has what you need doesn't need what you have?
that is the purpose of money. that is what defines money. it is the good that has the most utility in barter. that's why gold and silver are money, will always be money.
17
posted on
01/05/2011 11:26:55 PM PST
by
dollarbull
(why are paperbugs so bad at history?)
To: jiggyboy; PA Engineer; blam; TigerLikesRooster; Cheap_Hessian; CJinVA; Jet Jaguar; ...
To: dollarbull
19
posted on
01/05/2011 11:28:13 PM PST
by
TruthConquers
(Delendae sunt publicae scholae)
To: dollarbull
that is the purpose of money. that is what defines money. it is the good that has the most utility in barter. that's why gold and silver are money, will always be money.Does that not then simply make gold and silver a symbolic measure of the total production of an economy? If that is the case and the total amount of precious metal reserves set aside for currency remains fixed, would a prosperous, growing economy strengthen or weaken the buying power of a gold-backed unit of money?
20
posted on
01/05/2011 11:37:27 PM PST
by
Antonello
(Oh my God, don't shoot the banana!)
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