With the Federal Reserve printing money out of thin air and banks now failing from their fraudulent activities, I think it's a good idea to preserve your wealth in precious metals.I would suggest diversifying some of your savings into gold and silver. It owes no one and will never go to ZERO. In a Taiwanese media interview, Mike Maloney describes gold's historic investment value while all paper assets eventually go to zero.gold and silver may go down priced in paper money but it will NEVER go to Zero.
gold/silver or plain industrial metals are the only non encumbered wealth an individual can hold. It is not taxed, and can be concealed. it removes currency from the system, and stores it with the individual; this is why banks/financial institutions discourage gold. paper currency is aslowly defaulting debt IOU; real estate ownership is a mere tenancy, all you really have is right of use. stocks? corporate inflated debt, much like currencies are' only they require brokers to liquidate.
Wednesday, March 23, 2011
Should the US restore the Gold Standard
The gold standard is what kept politicians in line, and kept out dollar strong. Arbitrarily printing money is weakening it - $4.7 trillion to $8.2 from 2001-2008 says everything. a dollar as good as gold could solve a lot of our trouble , the dollar's been devalued on purpose to prop up our real asset prices and stimulate exports and foreign investment in the US. It's all about increasing liquidity when there's a danger of liquidity drying up.Like any tangible commodity, the value of gold is arbitrary and susceptible to manipulation by the market. Altering the fraction in such a way would cause the value of Gold to rise exponentially at first, as I pointed out in a previous post, and then crash upon its value becoming inflated, resulting in an economic collapse. No, if such a transition would occur, it could be a gradual process only after the economy hits rock bottom and U.S. Treasuries begin to move into gold and other tangibles.
Gold was chosen, once upon a time, for its properties. Diamonds are not so practical as gold in that you can break up into any number of denominations without changing its mass/volume ratio. Can't do that with diamonds or Rubys. Silver has been used; in fact you could use it as another denomination as nickel and copper have been. Ever heard of nickels dimes and pennys?
You also have to remember that we had the gold standard in 1929 and the first four years of a depression. Nixon was forced to give it up because other countries would exchange their dollars for USD and buy gold. Result was gold was cheap to them. Therefore, the country was being depleted of gold. We have to be careful on what we do. But definitely END THE FED. Remember it is not the stock market that causes a depression. Rather it is the contraction of the money supplyortheammountof *principal.
Gold was chosen, once upon a time, for its properties. Diamonds are not so practical as gold in that you can break up into any number of denominations without changing its mass/volume ratio. Can't do that with diamonds or Rubys. Silver has been used; in fact you could use it as another denomination as nickel and copper have been. Ever heard of nickels dimes and pennys?
You also have to remember that we had the gold standard in 1929 and the first four years of a depression. Nixon was forced to give it up because other countries would exchange their dollars for USD and buy gold. Result was gold was cheap to them. Therefore, the country was being depleted of gold. We have to be careful on what we do. But definitely END THE FED. Remember it is not the stock market that causes a depression. Rather it is the contraction of the money supplyortheammountof *principal.
Gold Over $1,440 , Silver over $37
Gold in the sprint after the drop in new home sales in New York, with prices rising by 0.8% over the $ 1,440 back. Silver advanced to over $ 37.22 an ounce, the highest since 1980
Subscribe to:
Posts (Atom)
