GOLD: Everyone’s dumber than dirt

In 2013, Germany Asked for Its Stored Gold. HaHaHaHaHa.
By Gary North
The Tea Party Economist
June 27, 2014

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In January 2013, the German central bank asked for half of its gold back. It was being stored by the Federal Reserve Bank of New York on behalf of the German government.

The Federal Reserve said: “Sure. In seven years, maybe.”

This week, the German government said: “We were only kidding. We don’t want our gold. We trust the American government.”

*** and ***

There has never been a full audit of the gold held by the Federal Reserve or at Fort Knox. “Trust us.”

If the voters in Germany go along with this, they will announce for all the world to hear: “We are dumber than dirt.”

*** end quote ***

What happened to “trust, but verify”?


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GOLD: Smuggling into India is akin to drugs in prisons

Saturday, November 16, 2013

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November 16, 2013
Bangkok, Thailand

Thailand is known for a lot of things– quintessential white sandy beaches, hard partying nightlife, quiet Buddhist reverence…

*** and ***

And now, thanks to India’s sagging economy, they can add one more to this list: gold smuggling.

*** and ***

This constitutes theft, plain and simple. By eliminating options to hold anything other than rapidly depreciating paper, Indian politicians essentially stole the purchasing power of people’s savings

*** and ***

The World Gold Council recently released its quarterly data on global trends, and the numbers are very clear: India’s gold demand cratered, dropping 32% because of the restrictions.

In Thailand, however, gold demand is up 125% from the 3rd quarter of 2012.

*** end quote ***

Yup. The Gooferment can’t print any more commodities. Fiat currencies always go to zero.

Drugs in prisons. Humans are nature’s version of rats and roaches in a larger size.

Best way to get something done is to tell someone they can’t!

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GOLD: Cash is not a “store of value”

Sunday, October 13, 2013

AP IMPACT: Families hoard cash 5 yrs after crisis

Associated Press BERNARD CONDON 3 hours ago

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NEW YORK (AP) — Five years after U.S. investment bank Lehman Brothers collapsed, triggering a global financial crisis and shattering confidence worldwide, families in major countries around the world are still hunkered down, too spooked and distrustful to take chances with their money.

An Associated Press analysis of households in the 10 biggest economies shows that families continue to spend cautiously and have pulled hundreds of billions of dollars out of stocks, cut borrowing for the first time in decades and poured money into savings and bonds that offer puny interest payments, often too low to keep up with inflation.

“It doesn’t take very much to destroy confidence, but it takes an awful lot to build it back,” says Ian Bright, senior economist at ING, a global bank based in Amsterdam. “The attitude toward risk is permanently reset.”

A flight to safety on such a global scale is unprecedented since the end of World War II.

The implications are huge: Shunning debt and spending less can be good for one family’s finances. When hundreds of millions do it together, it can starve the global economy.

Weak growth around the world means wages in the United States, which aren’t keeping up with inflation, will continue to rise slowly. Record unemployment in parts of Europe, higher than 35 percent among youth in several countries, won’t fall quickly. Another wave of Chinese, Brazilians and Indians rising into the middle class, as hundreds of millions did during the boom years last decade, is unlikely.

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“Money is a matter of functions four, a medium, a measure, a standard, a store.” He repeated that four times like poetry. “Six Characters in Money: Portable – Durable – Divisible – Uniformity – Limited Supply – Acceptability.” — CHURCH 10●19●62 (Vol 1) 978-0-557-08387-9 page 110

Sorry, but “cash” isn’t money these days. While it is a “medium of exchange” and “measure”, it fails as a “standard” or “store”.

And maybe if it fails “standard”, it may be failing “measure”.

OK, it does serve as a “medium of exchange”. 

But that’s it.

Note that in disasters and civil unrest, there is no exchange.

And, the TEOTWAWKI (The End Of The World As We Know It) preppers point out you can eat money. But you can make an expensive fire and poor quality toilet paper out of it.

Let’s tackle “standard” next. What is a “dollar”? It’s got no measure. It’s purchasing power decreases year over year due to inflation. An ounce, a gallon, a meter — they don’t change.

Back to “measure”, a 100 is still a 100. But it’s like baseball and football records. How do we measure if every year they change the definition of distance?

And cash is certainly not a “store”. The “rats” are eating the “seed corn” of value.


I suggest the preppers’ mantra — beans, bullets, bandaids, and then bullion!

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GOLDBUG: Commodity Discs

Wednesday, October 9, 2013

Misrepresenting Commodity Discs as coins or legal tender is prohibited.

Commodity Discs are intended to be used as a PRIVATE market-driven barter currency, to be traded for goods and services as an ALTERNATIVE to legal tender.

To acquire Commodity Discs, or if you would like to accept Commodity Discs as payment, sign your business up to be listed for free on our up and coming Silver Pages Directory by emailing your info to

Learn more, place orders, give feedback and keep up to date on our Facebook Page.

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The next NoFed!

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GOLDBUG: JP Morgan manipulates gold and silver

Monday, October 7, 2013

Morgan Whistleblowers Confess Bank Manipulates Gold & Silver

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In a stunning development, two JP Morgan whistleblowers have confessed that the bank manipulates the gold and silver markets. This is truly a shocking admission by the courageous JP Morgan whistleblowers. In a blockbuster King World News interview, London metals trader Andrew Maguire told KWN that the two JP Morgan employees came directly to him with hard evidence that the bank was actively manipulating the gold and silver markets.

This is a truly catastrophic event for JP Morgan, which up to now has denied manipulating these markets. Below Maguire takes KWN readers around the world on a trip down the rabbit hole as he discusses how he led the two JP Morgan employees to turn over the evidence to a law firm which specializes in high profile whistleblowers, and also to the CFTC. According to Maguire, the CFTC has virtually buried this information. Is this a cover up, or the next LIBOR scandal about to be exposed?

*** end quote ***

What a surprise.

“I’m shocked, shocked to find that gambling is going on in here!” Captain Renault in Casablanca

Manipulation of the metals allows the Banking Cartel, the OPEC of Banking, to support Big Gooferment in its robbery of the People.


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GOLD: An EXTRA 4,000 metric tons!

Saturday, September 7, 2013

A Huge Gold Prediction… From Reality TV
Matt Insleyby Matt Insley.Posted Aug 30, 2013.

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You wouldn’t expect to find gold under Ghana’s tan brown soil.

But it’s there. Lots of it.

Whether it’s a brand new Caterpillar 330b, a piecemeal front end loader or an army of low-paid workers, excavators are moving top soil to unearth the gold-rich gravel. I’ve seen it all.

There’s a frenzied pace in this boom-country… today we’ll take a look. But more importantly we’ll see how Ghana’s gold rush has shed light on the decade’s MOST important gold trend.

*** and ***

In short, the two American yahoos, while trying to secure a mining claim, found thousands of Chinese nationals are overtaking many of the mining concessions in Ghana. It’s illegal, but no one was stopping the brute force of the Chinese. As one local tribesman admitted, the Chinese “have guns” and aren’t easy to move from a claim.

How Do You Say “Claim Jumper” In Chinese?

If you’re watching the reality show looking for a good plot the Chinese claim jumpers make for a good antagonist. But if you’re tuned in to the show as a gold watcher, you know there’s a lot more to this story.

For starters, what the heck are thousands of Chinese nationals crawling around Ghana’s gold fields for?

*** and ***

If we do some back of the envelope math, since the country’s last “official” announcement we’ll quickly see that China could be holding an EXTRA 4,000 metric tons (or more) of gold. That’s enough gold to place them firmly as the world’s second largest gold holder.

But let’s get back to that reality TV bit above. China, the way I see it, isn’t just producing large amounts of gold and legally importing bullion from Hong Kong.

*** end quote ***

Unless you think the Chinese are stupid, why are they pursuing the “barbarous relic”?

Do they suspect that the paper chase will end when the music stops?

And what does the poor Sheeple do?

Debt and “saves” in “dollars” (whatever those are) paying the inflation tax!


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GOLD: Gooferment can’t fool all of the people; even if they are illiterate!

Saturday, August 31, 2013

Indian Gold Dealer: “Gold Is Now Trading At $1800oz.—Small Factories And Workshops Are Shutting Down”
August 23, 2013 | By Tekoa Da Silva

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The gang acting as the “Gooferment of India” tried to suppress the free market. But the “free market” still tell the unvarnished truth!

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GOLDBUG: India’s Gold Saga

Wednesday, August 21, 2013

The Lesson Of India’s Gold Saga
Gold Silver Worlds | August 20, 2013 | Category: Physical Market

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The Indian rupee hit a record low yesterday. The Indian government’s efforts did not succeed to stop its decline. What’s more, bond yields surged to five-year highs driven by market forces. Reuters writes:

Efforts to prop up the currency, which has tumbled nearly 13 percent against the dollar this year, have thus far proved ineffective, making it the worst performer in emerging Asia and threatening to drive the region’s third-largest economy towards a full-blown crisis.

The long term chart of the Indian rupee says it all. Pay special attention to the evolution since the end of 2011 and particularly the last months of this year

*** and ***

Linked to their currency debasement is the growing current account deficit. In an attempt to solve this, the country issued several sanctions to discourage their currency flowing into gold. We described for instance in Indian Government Desperately Tries To Discourage Gold Demand several import taxes. More recently, Indian officials increased the gold import duty to 10%. Needless to say that gold imports have almost frozen in the past couple of weeks.

*** end quote ***

Interesting that the illiterate Indians know they are get inflated by fiat currency.

When will the very literate Sheeple here in the USA get the picture?


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GOLDBUG: 92.5% loss of value

Saturday, August 3, 2013

OP/ED | 7/29/2013 @ 8:00AM |1,698 views
Gold Defined Money And Monetary History At The Cato Institute: A Velvet Underground Event?
Ralph Benko, Contributor

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“Since the end of convertibility in 1971, average real wages per hour of work in the United States have been stagnant. Average annual American economic growth since 2000 has been about half the average annual real growth of the previous two American centuries. The real purchasing power of a 1971 dollar saved in the bank, adjusted by the CPI, has declined to a value of about 15 cents. That is to say, the price level has risen from 1971 to 2013 by about six-fold, a rise unparalleled in the history of the American Republic. In a word the American middle class, relatively speaking, has been gradually dispossessed.

“The consequences of the collapse of real money worldwide are still unfolding. But let it be said that only one century of post-World War I financial disorder has been written.

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One can quibble about exactly how much a dollar has shrunk!

Personally, I’d suggest 30¢ for a gallon of gas in 1964 versus $4 on 2013 equals 92.5% loss of value!

Put it another way, a 13 fold increase in the price level.

No wonder an 8$ minimum wage doesn’t look good!

Retirees, the poor, the wage slaves, and anyone with savings is getting royally <synonym for the past tense of the procreation act> !

Convert currency and dollar denominated assets into things the Gooferment can’t print!

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GOLDBUG: Gold, Silver, and Oil

Monday, July 22, 2013

Gold and Silver Investors Greatest Secret Weapon
Commodities / Gold and Silver 2013 Jul 18, 2013 – 04:01 AM GMT

By: Steve_St_Angelo

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As the FED turns up the heat in the central bank frying pan, the frogs (public) don’t realize they are being cooked to death by inflation. I am quite amazed how loud the sizzling sound has become, but for some odd reason hardly anyone notices it.

Unfortunately, we are well past the point of no return. It’s only a matter of time now before the whole “Financial Cliff” falls off the mountain side. Until then, gold and silver investors will have to put up with some of the worst analysis ever to come out of government and MSM.

*** end quote ***

Another indication that “someone” is cooking the books.

In a free market, commodities don’t diverge from glacial trends.

Of course, as a tin foil hat, I suspect manipulation.

The FED can print “dollars”, but they can’t print gold, silver, oil, land, food, water, bandaids, or bullets.

This is all a fraud being pulled on the Sheeple and Clovers.

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GOLDBUG: Ugly chickens

Sunday, July 14, 2013

The Daily Reckoning by The Daily Reckoning / 1d // keep unread // preview
Why Gold Will Make a Comeback

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You might be tempted to think that the global economy is recovering, the dollar strengthening and gold will finally sink into obscurity. Think again.

Central bankers like Ben S. Bernanke may tell you that banks hold gold bullion only for sake of “tradition,” but gold traders know otherwise — gold is real money, and despite what bankers, economists and mainstream investors have been saying, their actions show they are terrified of a coming currency crisis.

This Daily Reckoning video will show you exactly what is going on under the radar at some of the world’s biggest central banks, and how it is destined to affect gold prices.

*** end quote ***

There are some very very ugly chickens coming home to roost.

All the “dollars” that the Federal Reserve has created out of thin air are sitting in the Big Banks. Just cause they are not “circulating” doesn’t mean that we are off the hook.

The Gooferment must inflate to “pay off” their unsustainable debt, unfunded liabilities, and spending.

So what are us “little people” supposed to do?

Prepare for hard times. Save and invest in things that preserve your “wealth” when the situation winds down.

Learn a real skill, economize, pay down “bad debt”, buy productive land, bullets, beans, band aids, commodities.

Gold, silver, and nickels.

Anything to preserve value.

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GOLDBUG: The true price of gold and silver

Wednesday, June 19, 2013

We’re a Long Way from the 1970’s
12 JUNE 2013 
By Greg Hunter’s (Updated)

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In the 1970’s, we had reporters investigating the White House. Today, we have the White House investigating reporters for doing their jobs. What Nixon did in the Watergate break-in is child’s play compared to the Obama Administration’s use of the IRS to target hundreds of groups considered political enemies. Let’s not forget the data collection on millions of Americans by the NSA and the brave souls that lost their lives in Benghazi. Revelations from multiple scandals seem to keep coming. This is, at the very least, a reflection of bad management of USA Inc. and not good for the U.S. dollar.

So, is the gold rush over? Not if you ask China, India, Russia and multiple hedge funds. Can precious metals prices still be suppressed and pushed lower? Yes, but only until the markets cannot or will not deliver physical metal. When that happens, there will be no more selling what you don’t have. It you want to sell 50,000 ounces of gold, you’ll have to produce it. The markets will be “cash only.” Then and only then will you get the true price of gold and silver.

We are a long way from the 1970′s. What is happening now has never happened in all of recorded history. No country has ever been more indebted than the U.S. Money printing has never been a coordinated global event. The risk to a black swan event such as nuclear war has never been greater in human history. So, when will the gold rush be over? The short answer: when there’s world peace and there is trust and integrity in the financial system.

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It’s interesting when you thing of the giant Ponzi scheme that the dollar represents.

Once upon a time, a “dollar” was:

*** begin quote ***

The U.S. dollar was created by the Constitution and defined by the Coinage Act of 1792. It specified a “dollar” to be based in the Spanish milled dollar and of 371 grains and 4 sixteenths part of a grain of pure or 416 grains (27.0 g) of standard silver and an “eagle” to be 247 and 4 eighths of a grain or 270 grains (17 g) of gold (again depending on purity).[36] The choice of the value 371 grains arose from Alexander Hamilton’s decision to base the new American unit on the average weight of a selection of worn Spanish dollars. Hamilton got the treasury to weigh a sample of Spanish dollars and the average weight came out to be 371 grains. A new Spanish dollar was usually about 377 grains in weight, and so the new U.S. dollar was at a slight discount in relation to the Spanish dollar.

*** end quote ***

What is it worth now?


Is the answer “not much”?

And shrinking every minute.

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GOLDBUG: Waiting lists for coins and bars?

Tuesday, May 7, 2013

Gold buyers forced to go on waiting list
Gold buyers are having to wait up to six weeks for their bars and coins after a price dip led to increased interest.

By Rosie Murray-West3:55PM BST 30 Apr 201358

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Investment company Physical Gold said there were waiting lists of three weeks for some coins, and four to six weeks for gold bars. “Previously all would have been available within a few days,” the company said.
The company said that it had seen a 50pc increase in enquiries about purchasing gold and a 35pc increase in sales, with people buying tax-free gold coins. “We are now starting to experience physical gold shortages,” said Daniel Fisher, CEO of Physical Gold.

“In particular there are waiting times on some gold bars and a real difficulty in obtaining mixed year Sovereigns. “However, many clients are willing to ‘do a deal’ and wait for delivery as they want to secure the current price as they feel it will be higher in the near future.”

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Yeah, the price drops on “paper” gold, but premiums (seniorage) on “hard” gold goes up.

Now who doesn’t think the Sheeple and Clovers aren’t being manipulated?

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GOLDBUG: Gold, Gold miners, and anything “honest” in China?

Saturday, February 9, 2013

Marc Faber: I’m Buying Gold Because I’m Fearful of a Systemic Crisis

by Constantine Gardner


Dr. Marc Faber the Swiss fund manager and Gloom Boom & Doom publisher believes markets will punish central banks, at some stage, for their extensive monetary easing. This could materialize as a bonds market collapse or a stock market bubble.

He reckons investors should enjoy the rally while it lasts, and says he is already unwinding his long positions because when ‘euphoria’ builds up and everybody is investing, markets turn down. He also thinks investors who don’t own gold are in “great danger”.



Gold, Gold miners, and anything “honest” in China?


GOLD: Gold bug died unnoticed; at least the state didn’t get it!

Tuesday, December 25, 2012–abc-news-topstories.html

Calif. Teacher Inherits Recluse Cousin’s $7 Million in Gold

By Christina Ng | ABC News Blogs – Wed, Dec 19, 2012 2:20 PM EST

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Samasko, 69, died in May due to heart problems and was not discovered until June when neighbors complained of an odor coming from his house.

When authorities went to clean out his Carson City home, they found boxes of gold coins in his home and garage.

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The story leaves out that the Government tried to claim the windfall.

On Christmas Day, remember all the old gold bugs with no one.

p.s., it is DUMB to hoarde in your own place. The gooferment or the bureacrats will steal it all. That’s why pirates buried their treasures.


GOLD: Fort Knox; a national joke on the taxpayers

Saturday, October 27, 2012

Fort Knox, an Impregnable Monument to Security Theater
By Michael O’Malley Oct 16, 2012 1:04 PM ET

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President Franklin D. Roosevelt used a similar trick when he authorized the construction of the U.S. Bullion Depository at Fort Knox, Kentucky.

Roosevelt took the U.S. off the domestic gold standard in 1934. Although the nation remained on the standard in international exchange, the Gold Reserve Act made it illegal for private citizens to hold “monetary gold” — that is, coins or bullion. Banks had to transfer to the U.S. government any title to gold reserves they held, in return for dollars. Individuals could still own gold jewelry and keep their gold dental fillings, but anyone owning monetary gold had to sell it to the government.
Psychic Compensation

In speeches explaining the change, Roosevelt paradoxically stressed the importance of gold reserves.“By making clear that we are establishing permanent metallic reserves in the possession and ownership of the federal government,” he told Congress in 1934, “we can organize a currency system which is both sound and adequate.” But the U.S. already had “metallic reserves” — the act had actually eliminated that gold’s legal function.

*** end quote ***

So what’s in there? And, who owns it?

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GOLD: Something has to break

Wednesday, October 10, 2012

Home » Economy, News, Politics
Dollar Alternative Anyone?
By Greg Hunter’s

Countries around the world have been actively seeking ways to not do business in dollars for the past few years. The U.S. dollar is the so-called world reserve currency, but the big question is for how long? China and Japan are beginning to shun the dollar in trade between the two countries. Mind you, this is the 2nd biggest economy in the world doing business without dollars with the 3rd biggest economy in the world. Russia and China, also, have an agreement to not use the dollar, and even India recently announced it would trade gold for oil with Iran. Additionally, the International Monetary Fund (IMF) has been calling for an alternative to the buck. The big push is not because the U.S. dollar is held in the highest regard but because it is losing its luster on the world stage. After all, the debt debacle facing America is worse than what the Greeks are facing according to a new report from U.S. Senator Jeff Sessions. (Click here to see for yourself.) Senator Sessions says every man, woman and child in the country is saddled with $44,000 in debt.

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So what is a poor retiree to do?

Your retirement savings get no interest. The stock market is dependent upon the inflation that the FED is pumping into it. And, that inflation has to come out somewhere — barf with the world rejecting the dollar as reserve currency or fart that inflation into the economy.

We have examples of hyperinflation in other countries. I lived through the Carter inflation of the 70’s.

Nickels, silver, and gold.

Seems obvious to me?

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GOLD: Western Economies Are Screwed

Tuesday, October 2, 2012

DEUTSCHE BANK: Western Economies Are Screwed, And Investors Face A ‘Disturbing Paradox’
Matthew Boesler | Sep. 20, 2012, 12:54 PM 

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In a new report entitled Gold: Adjusting For Zero, Deutsche Bank analysts Daniel Brebner and Xiao Fu paint an incredibly dark picture of the bind the global economy is in right now.

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Regardless of who wins the US elections, we are faced with a situation of Japan in the 80’s. It will take two generations to unwind the excesses of the past half decade.

  • A rotation out of the US dollar as the world’s reserve currency will effectively put the USA politician’s on a fiscal “diet”.
  • Gas prices are going to cripple the middle class.
  • The public pensions will cause a crisis as there are far more takers than makers.
  • The “free riders” and those on the dole, including Social Security, will make final discipline impossible.
  • The class warfare will end with the makers, like the Little Red Hen, just stop making; can’t take what isn’t made.

At some point in time, “We, The Sheeple” will recognize that they are being killed; not merely shorn.

That’s when the merry go round stops.

Gold, or nickels, is your best bet to survive.

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GOLDBUG: 500% implications = 25 * Carter’s 21%

Thursday, June 28, 2012

As Some Predict a 500 Percent Surge in Gold, Beware the Rise in Scams
Posted on June 22, 2012 at 10:00pm by Becket Adams Becket Adams

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The European bank and financial services company Societe Generale predicts that gold could surge as much as 500 percent in the near future. Of course, with an increase in value comes an increase in fraud

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This implies 10$ per gallon gas.

A five fold increase in commodities.

A 500% inflation will make Carter’s inflation look like child’s play.


Save your nickels!

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GOLD: Joe Scarborough Admits

Wednesday, April 4, 2012

Joe Scarborough Admits: ‘Glenn Beck Has Been Right’ About Gold
Posted on March 30, 2012 at 3:49pm by Becket Adams

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Today on MSNBC’s “Morning Joe,” Matthew Bishop, the US Business Editor and New York Bureau Chief for The Economist, talked about his new ebook “In Gold We Trust? The Future of Money in an Age of Uncertainty.”

Co-written with Michael Green, Bishop’s ebook discusses some awfully familiar themes: the instability of fiat currencies, the skyrocketing price of gold, and the future of the global economy.

“If you got volatile markets, why do you run to gold?” MSNBC host Joe Scarborough asked Bishop.

“This is a very interesting time because…the people who have been the most successful investors over the past few years, a lot of them basically are very worried about the future of the dollar, very worried about the future of the euro, and they see gold as the best alternative currency,” Bishop answered.

“And they’ve been right a lot,” Bishop added. “They have a lot of their money in that currency and I think the rest of need to understand why. It’s always dismissed as this kind of crazy rightwing thing to do,” Bishop added.

*** end quote ***


Bout time that someone, anyone, in the mainstream media acknowledges the economic reality.




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GOLD: Asian gold theft crisis in the UK

Tuesday, February 14, 2012

The great Asian gold theft crisis
With its value at a record high, gold has never been more attractive to thieves. Now burglars with metal detectors are targeting the homes of British Asian families for their collections of high-quality ‘Indian gold’ jewellery
Emine Saner        Emine Saner
Tuesday 31 January 2012 15.00 EST

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Five weeks ago, she came home one evening to find the door ajar. The downstairs floor of her house was relatively untouched but upstairs the bedrooms had been ransacked – drawers opened, wardrobes emptied, clothes and belongings scattered everywhere. “It was such a huge shock,” she says, sitting on the sofa, her voice breaking slightly. Her husband, Mr Rashid (neither want to give their full names), a big man sitting across the room, shakes his head. “They took it all,” he says.

The thieves who broke into this semi-detached house in Earley, near Reading, stole around £70,000-worth of gold jewellery. To those who are not from a south Asian family, it might seem remarkable to own so much valuable jewellery, but families such as the Rashids (Mr Rashid runs a small business) live in ordinary houses and are not particularly wealthy. Their gold collection – elaborate necklaces, rings, earrings and bangles – is treasure that has been handed down from generations of their families in Pakistan or bought as wedding gifts. It’s our savings, our security, says Mrs Rashid, visibly upset. If, in future, the family needed money, they would have sold some pieces. “It’s like paying a mortgage for 20 years and then having a house worth thousands of pounds afterwards – it’s the same thing with gold,” she says. “Our parents gave it to us, we would have given it to our children, they would have given it to their children,” says her husband. They tried to put their gold in the bank, but “there were no lockers available. Everyone is looking for one.”

*** end quote ***


You have to not look like a victim. And, make it hard to find.

Crazy that you can’t be secure in your own home.

Tie that back to the UK’s dole, gun laws, and generally tolerant attitude towards crime.

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GOLD: Unfunded liabilities

Monday, January 9, 2012

Gold Chart Walk 2012
by Morris Hubbartt

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Unlimited government requires unlimited funding. The unfunded liabilities of the USA are staggering. Over the next 20-25 years there is probably a gigantic $75 trillion unfunded liability problem for the US government. Think of the move in gold against the dollar with a debt of $15 trillion. Can you imagine the action in gold with a debt five times the current size?

The United States could be headed towards decades of dollar devaluation. With all of the problems in Europe, why isn’t the euro hitting new lows? Why can’t the dollar mount a real rally, instead of this tiny bit of strength?

The answer is that the dollar isn’t really very strong at all. If America goes into a crisis like you’ve just seen in Europe, the fall in the dollar could dwarf the euro’s fall, because America is the largest debtor nation in the history of the world.

The nature of all fiat currencies is to be competitive, with each currency group looking for an advantage in trade, and more importantly, an advantage in debt relief for the governments that issue these currencies. Fiat currencies are designed to be depreciated over time. Buy Gold in this time of gold price weakness, because your opportunity won’t last forever.

*** end quote ***

Regardless of how you feel about gold — the magic mineral, an obsolete anachronism, or something in between — this quote should strike fear into the heart on anyone who understands “real life”.

As if “unlimited government” was NOT scary enough, “unlimited funding” should be down right terrifying.

The national debt stands at 15T$ and growing every second.

Then you hit the guesstimate of 75T$ of unfunded liability, which should knock your socks off. It does mine.

How did “we” get in this mess? Even a crooked accountant, with two sets of books, has one that tells him the truth. Even Bernie Made-off knew he was “underwater”. We don’t even have ONE set that tells us the truth.

“Jobs created or saved”, “unemployment” stats that don’t account for the “99 week”-ers, and an inflation rate that doesn’t include food or fuel.

These are the statisticians that you’re looking to tell you “the truth”.

Can you even handle “the truth”?

“The truth” is that we’re going to be like Japan, the Soviet Union, and Zimbabwe all rolled into one.

As one of those war movies said: “Tell everyone to get small in their holes because trouble is coming.”


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GOLDBUG: Confiscations in time

Tuesday, October 25, 2011

*** begin quote ***

In other cases, someone who was under threat could have buried them because they wanted to hide their wealth.

Another regular occurrence was coins being recalled, so they could be melted down to produce more currency. When that happened, Romans would head into the garden, and bury their money to keep it safe for the future.

It will be fascinating to find out what is there in terms of coins, but also why, and how, it came to be buried there. “Every hoard is different, and the bigger the number of coins, the more we can find out about the history of the area.”

*** end quote ***

Wow, gold confiscations weren’t limited to FDR. Tell you anything?

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GOLDBUG: Return to a gold standard?

Friday, September 30, 2011

Plan To Return America To the Gold Standard Set To Be Offered at Washington
Lehrman, One-Time Member of Reagan-Era Gold Commission, Foresees Five-Year Transition
By SETH LIPSKY, Special to the Sun | September 26, 2011

*** begin quote ***

Step two in the Lehrman Plan would be the minting by the Treasury and authorized private mints of what Mr. Lehrman calls “legal tender gold coin in appropriate denominations, free of any and all taxation.” The taxation point is a key one. Currently, if the value of the dollar collapses while one is holding gold coins, one can be taxed when one spends those coins.

*** end quote ***

As a fat old white guy injineer, I have learned to ignore what politicians and bureaucrats say and look at results.

The Federal Reserve Bank — which neither “federal”, nor a “bank”, while “reserve”-ing nothing — is nothing more than an “OPEC” for a secret money cabal.

So let’s look at the track record of the FED. Now bear in mind that their stated objective, depending upon what mumbo jumbo you’ve listened to, is either or both “strong dollar”, “full” employment, “weak dollar”, “price stability”, or a “weak dollar”.

But let’s focus on the results!

Since 1970, the purchasing power of the dollar has dropped arguably between 95 to 99%.

If “money” is supposed to have a “store of value” attribute, then the dollar fails in that key characteristic.

A most telling argument from a recent Republican Presidential Debate was Ron Paul’s assertion that the price of gas in terms of silver hasn’t changed. Three pre-1964 dimes bought a gallon of gas in the 60’s and those same dimes when converted to Federal Reserve Notes today — 3 time $2.80 = $8.40 — would buy more than a gallon of gas anywhere in the USA.

SOOOooo it’s the value of the dollar that has eroded.

I wish this gallant warrior “Good Luck” getting the USA back to the gold standard. I don’t see it happening peacefully.

Secession is the only path.

When common folk begin to save their wealth in gold and silver, then the days of the FED are over.

When “We, The Sheeple” recognize that they’ve been defrauded, then we have a chance to recover.

All that has to happen is the repeal of legal tender laws, and the free market will fix the problem.

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GOLDBUG: Between the borrowers and the savers

Monday, August 22, 2011

LinkedIn Groups
Group: Risk, Regulation & Reporting
Discussion: Should the World Go Back to the Gold Standard?

*** begin quote ***

during the glory days of the gold standard in the US, 1870-1914, prices declined steadily at 2% p.a. for the 1st half o the period and then increased at 2% p.a. for the 2nd half. There was “price stability” if one means that prices in 1914 were the same as they were in 1870, otherwise not. Gold will make the rates of inflation in all countries on the gold standard approximately the same.

*** end quote ***

Can you even IMAGINE zero inflation?

Talk about radically changing the balance between the borrowers and the savers. Between the workers and the drones.

What a concept.

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GOLDBUG: Think tangibles; it’s no April Fool’s joke

Friday, April 1, 2011

Tangible investments … that lick your hand

*** begin quote ***

We’ve decided on this radical tactic because money is losing its value at a startling rate. In the last eight months it has lost 14 percent of its value. This “dollar’s road to hell,” in the words of Gonzalo Lira, mean useful things like heifers and canning jars and storable food will only cost more and more as time goes by. So why not purchase them now while we can still afford them?

At this juncture I’ll point out that I’m not a financial adviser. I don’t even play one on TV. I’m a housewife on a limited budget. But my husband and I can’t afford to have that limited budget evaporate in value because we naïvely swallowed Ben Bernanke’s lies that our economy is just fine, thank you, and recovery is right around the corner.

We believe foolish people trustingly keep their money in the bank and don’t notice when its purchasing power dwindles (or when their solid dependable bank just … goes away). We believe foolish people think the stock market can never fall to catastrophic lows (again). We believe foolish people think our economy is fundamentally sound despite all evidence to the contrary.

We believe smart people pay off debt and get rid of unneeded luxuries and put their money into things that will provide a useful function in the future. We believe smart people invest their retirement money in physical gold and silver rather than 401(k) plans.

Tangible. Think tangible.

*** end quote ***

Gold bullion coins, silver bullion coins, rolls of nickels … … are my preferred investments.

Don’t laugh.

Read about post WW1 Germany, Hungry, Zimbabwe.

It can happen here.

Humor me. Buy a $2 roll of nickels every time you go to the bank and put them out of the way at home. (The Gooferment’s nickel in now worth about 8¢ in metal content alone.)

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