MONEY: US 90 percent silver coins minted before 1965

Monday, July 21, 2014

http://www.alt-market.com/articles/2229-the-immorality-of-paper-money

The Immorality Of Paper Money
Monday, 14 July 2014 16:44 Bob Livingston

*** begin quote ***

I still like U.S. 90 percent silver coins minted before 1965. They can be purchased in bags of $1,000 face amount or in smaller increments — even individually. (Find a local, reputable coin dealer with a good rating with the Better Business Bureau and a history in the community.) Buy for great price explosion upward as well as for survival coins. As paper money fails, a silver dollar will buy a week’s groceries any time.

*** end quote ***

A silver dollar is probably worth 19 U$D in melt value.

Don’t think that buys a week’s groceries. That’s probably hype.

But, it’s not hard to look at Zimbabwe, Argentina, Venezuela, or the pre-WW2 Germany experiences for an approximation of what could happen here.

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MONEY: Nickels are “poor man’s gold”

Wednesday, January 29, 2014

http://www.lewrockwell.com/2014/01/robert-wenzel/machinations-at-the-mint/

Price Inflation Will Force the US Mint to Once Again Change the Metal Content of Coins
By Robert Wenzel
Economic Policy Journal

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The Mint is considering a change to the mix of metals it uses to make quarters, dimes and nickels, because of the climbing cost of production of the coins. reports WSJ.

It now costs 1.8 cents to make a penny and 9.4 cents to make a nickel, costing the federal government about $104.5 million last year.

*** and ***

I fully expect that in the next bout of accelerating price inflation that the value of the metal content of current nickels will soar. Thus, nickels are a great no downside investment. If the price inflation I anticipate doesn’t develop, just spend the nickels. For more on nickels as an investment see: Why You Need to Own Nickels, Right Now

http://www.economicpolicyjournal.com/2011/02/why-you-need-to-own-nickels-right-now.html

*** end quote ***

Nickels are “poor man’s gold”.

Argh!

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POLITICAL: Global financiers create political cover

Sunday, January 19, 2014

http://www.zerohedge.com/news/2013-12-13/war-china-inevitable

Is War With China Inevitable?
Submitted by Tyler Durden on 12/13/2013 22:10 -0500

*** begin quote ***

Global financiers created the circumstances that have led to America’s probable economic demise, but they don’t want to be blamed for it. War provides the perfect cover for monetary collapse, and a war with China might become the cover to end all covers. The resulting fiscal damage and the terror Americans would face could be overwhelming. Activists who question the legitimacy of the U.S. government and its actions, once considered champions of free speech, could easily be labeled “treasonous” during wartime by authorities and the frightened masses. (If the government is willing to use the Internal Revenue Service against us today, just think about who it will send after us during the chaos of a losing war tomorrow.) A lockdown of civil liberties could be instituted behind the fog of this national panic.

*** end quote ***

You have to look at the financial fraud being pulled by the Fed.

The Chinese are in control of our fate. (Not that they don’t have their own problems.)

So, when these very ugly chickens come home to roost, how will the elite avoid the “french revolution’s guillotine”? 

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MONEY: A negative on bitcoin

Saturday, January 18, 2014

http://dont-tread-on.me/?p=31861

26 Reasons Why I Will Never Support Bitcoin
By Silver Shield, on December 21st, 2013

*** begin quote ***

20. Then there is that anti government aspect of it.  Really? It seems the Anglo American bankers love it, including Ben Bernanke and JP Morgan.  It is right up their alley with something for nothing.  They may crack down on Bitcoin only to launch their own brand.  Look at the Lotto.  They went after the mob for running numbers, but then made it legal for them to profit off of.  They went after Charles Ponzi and then created their own Ponzi Scheme with Social Security.  I am telling you Bitcoin or something just like Bitcoin will be used to sell to the people after the dollar collapse, a new electronic worthless currency.  Who knows maybe we will get bonus points for watching TV and using it?  They already have millions hooked on EBT cards, get the corporations involved and the government muscle and you could see the final realization of a digital currency where they can cut you off if you get out of line.  How many stories do we already hear about bank bailins and IRS and NSA messing with people’s bank accounts.  Having real wealth outside of the system is the only antidote for that.

*** end quote ***

It’s the “intrinsic value” argument that hits me hardest.

In POW camps of WW2, cigarettes were “money”.

Gold and silver have the advantage of “intrinsic value”. Junk silver, (i.e., pre-1964 US coins), will be the money of TEOTWAWKI (The End Of The World As We Know It)!

The survivalist community plans to use ammo as money. As well as commodities, like liquor, can be barter fodder. 

Remember barter will precede “money”.

So, save wealth in forms that are not paper!

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POLITICAL: Bernard von NotHaus, “Rosa Parks” opposing the FED

Friday, January 17, 2014

LIBERTY DOLLAR NEWS:
December 2013 Vol. 15 No. 12

Tortured Without Being Sentenced: Bernard von NotHaus

*** begin quote ***

Judy Shelton, a noted economist who knows which way is up, author of The Coming Soviet Crash (1989) and Money Meltdown (1994) that influenced my work on the Liberty Dollar, a longtime veteran of Washington, a friend who was an approved witness for my trial by not called to testify by my Dumb and Dumber attorneys and the first person to brand me as the “Rosa Parks of monetary policy,” has published a quick 68 page booklet, Fixing the Dollar Now.

*** end quote ***

This fellow, Bernard von NotHaus, made a mistake. Poking the Banking Cartel, called the “Federal Reserve System” (i.e., the OPEC of money). Note that despite the name, it’s not “Federal”. It’s a private cartel!

And, as Bernard von NotHaus pointed out, the “dollar”, (technically The Federal Reserve Note), is NOT a store of value.

This is a direct assault on the wealth of the People. It hurts the “non-rich”, who have the capability of holding non-dollar denominated assets. The poor and those on fixed income, who have to spend most or all of their income, are paying the hidden taxes. And when they get a few dollars ahead, their savings are marginalized by low rates of return and the Fed’s printing press.

You have to hold gold, silver, nickels, or any asset that is not in “dollars”. Jury is still out on bit coins in my mind.

YMMV!

I call this political because Bernard von NotHaus is a political prisoner in limbo!

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MONEY: Another business takes bitcoins

Wednesday, January 15, 2014

http://www.huffingtonpost.com/2014/01/08/bitcoins-lemonade-stand_n_4563348.html?ncid=txtlnkusaolp00000540

These Girls Accept Bitcoins At Their Lemonade Stand
Posted: 01/08/2014 3:46 pm EST | Updated: 01/09/2014 11:44 am EST

*** begin quote ***

Bitcoins have been everywhere in the news lately. Their value crashed, it crashed again, yet more and more businesses are accepting them. One particular business has really caught the Internet’s attention: a lemonade stand run by two adorable girls in San Francisco.

*** end quote ***

Inevitable?

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MONEY: Inflation – a tax on capital

Friday, November 1, 2013

http://www.nytimes.com/2013/10/27/business/economy/in-fed-and-out-many-now-think-inflation-helps.html?_r=0

In Fed and Out, Many Now Think Inflation Helps
By BINYAMIN APPELBAUM
Published: October 26, 2013

*** begin quote ***

WASHINGTON — Inflation is widely reviled as a kind of tax on modern life, but as Federal Reserve policy makers prepare to meet this week, there is growing concern inside and outside the Fed that inflation is not rising fast enough.

Some economists say more inflation is just what the American economy needs to escape from a half-decade of sluggish growth and high unemployment.

The Fed has worked for decades to suppress inflation, but economists, including Janet Yellen, President Obama’s nominee to lead the Fed starting next year, have long argued that a little inflation is particularly valuable when the economy is weak. Rising prices help companies increase profits; rising wages help borrowers repay debts. Inflation also encourages people and businesses to borrow money and spend it more quickly.

*** end quote ***

Excuse me, are reporter that deceitful — it’s a tax on capital; not modern life.

Excuse me, are ecknominists that obtuse? They know that inflation is theft.

Excuse me, are The Sheeple that stupid? Guess they are!

So anyone, who is on a fixed income, poor, or certificates of depreciation, loses purchasing power?

Put more air in an already inflated balloon.

Why? 

To fool people into spending more!

Argh!

Consumer prices will go up and the poor will be left behind.

Stable commodity based money is a benefit to society. Those on fixed incomes and the poor benefit from stability.

Save your nickels!

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GOLD: Cash is not a “store of value”

Sunday, October 13, 2013

http://news.yahoo.com/ap-impact-families-hoard-cash-5-yrs-crisis-042042926.html

AP IMPACT: Families hoard cash 5 yrs after crisis

Associated Press BERNARD CONDON 3 hours ago

*** begin quote ***

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.

*** end quote ***

“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.

Argh!

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

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POLITICAL: the Rosa Parks of alternative money

Thursday, October 10, 2013

http://dailyreckoning.com/the-domestic-terrorist-you-can-call-a-hero/

Daily Reckoning
The “Domestic Terrorist” You Can Call a Hero
Jeffrey Tucker
Posted Sep 10, 2013.

*** begin quote ***

I dreamed I saw Bernard von NotHaus, alive as you or me.

Said I, “But Bernard, you’ve been jailed two years.”

“I never was,” said he.

Bernard has been the called the Rosa Parks of the alternative money movement. More than 10 years ago, he had this idea that he would make his own money — not the fake stuff we are used to, but the real stuff made of actual silver. He called his currency the Liberty Dollar (and why not, since there is no trademark on the word dollar?).

The feds raided him in in 2006. In 2007, the government outright stole 2 tons of coins from him, many of them featuring an image of Ron Paul, plus 500 silver coins and 50 gold coins. They threw him in jail and dragged his name through the mud many times.

He was later convicted of making counterfeit coins — an ironic conviction given that he was making silver coins to compete with official coins made out of scrap metal. That conviction was in March 2011, fully 2½ years ago. The government labeled him a “domestic terrorist.” Yet — and this is what amazed me — he still hasn’t been sentenced. He walks around as free as you or me.

*** end quote ***

It’s all about keeping the Sheeple sleeping.

I bought Liberty Dollars.

As a hedge.

The two silver discs are a little tarnished, but retain their value.

I forget what I paid for them but they have “held” their value.

The only mistake Bernard made was to put the word “dollar” on them. 

(Even though it’s not a restricted term.)

He should have just stuck to the weight.

But they are no more “counterfeit” than they are “worthless”.

Argh!

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GOLDBUG: Commodity Discs

Wednesday, October 9, 2013

http://commoditydiscs.com/

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 Arlo@CommodityDiscs.com.

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

https://www.facebook.com/CommodityDiscs

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The next NoFed!

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GOLDBUG: JP Morgan manipulates gold and silver

Monday, October 7, 2013

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/13_Morgan_Whistleblowers_Confess_Bank_Manipulates_Gold_%26_Silver.html

Morgan Whistleblowers Confess Bank Manipulates Gold & Silver

*** begin quote ***

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.

Argh!

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GOLD: An EXTRA 4,000 metric tons!

Saturday, September 7, 2013

http://dailyreckoning.com/a-huge-gold-prediction-from-reality-tv/

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

*** begin quote ***

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!

Argh!

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RANT: Free Competition in Currency Act of 2013

Sunday, August 25, 2013

Letterhead
August 23, 2013
Mr. Ferdinand Reinke
1641 International Dr Unit 414
McLean, VA 22102-4831

Dear Mr. Reinke:

Thank you for contacting me about H.R. 77. I appreciate hearing from you.

H.R. 77, the Free Competition in Currency Act of 2013, was introduced by Representative Paul Broun on January 3, 2013 and was referred to the House Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial and Antitrust Law. This legislation would allow any metal coins issued by a government or individual to be legally accepted currency.

The Federal Reserve System was established in 1913 to provide stability in the banking system through the regulation of bank reserves. It is the central bank of the United States and formulates the nation’s monetary policy, with a dual mandate of fostering maximum employment and price stability. It is also the “lender of last resort” in our nation’s financial system. Its record reflects its commitment to promoting low levels of inflation and unemployment, as well as maintaining economic stability.

The Fed is purchasing $85 billion in assets each month in an effort to stimulate spending and spur investment in businesses and homes. These asset purchases are known as quantitative easing (QE). There is uncertainty about the Fed’s ability to unwind from QE without some financial or economic disruption, including inflation. However, currently inflation and inflation expectations remain low; consumer prices rose 2% in July 2013, compared to a year earlier.

Since August 2012, the Fed has released quarterly financial statements in addition to its annual reports, in response to demands for accountability and openness. I think this is an important step and believe we will continue to see such measures from the Fed in the future.

Thank you again for contacting me with your views.

Sincerely,

Signature

Tim Kaine

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Notice that he never addresses the issue.

I know what the fluff says.

But the dollar has lost 99% of its purchasing power in my life time.

Argh!

Why bother writing these goes?

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GOLDBUG: 92.5% loss of value

Saturday, August 3, 2013

http://www.forbes.com/sites/ralphbenko/2013/07/29/gold-defined-money-and-monetary-history-at-the-cato-institute-a-velvet-underground-event/

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

*** begin quote ***

“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: Ugly chickens

Sunday, July 14, 2013

http://dailyreckoning.com/why-gold-will-make-a-comeback/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+dailyreckoning+%28The+Daily+Reckoning%29

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

*** begin quote ***

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

http://usawatchdog.com/were-a-long-way-from-the-1970s/

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

*** begin quote ***

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.

*** end quote ***

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

Once upon a time, a “dollar” was:

https://en.wikipedia.org/wiki/United_States_dollar

*** 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?

Argh!

Is the answer “not much”?

And shrinking every minute.

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GOLDBUG: Waiting lists for coins and bars?

Tuesday, May 7, 2013

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/10028183/Gold-buyers-forced-to-go-on-waiting-list.html

HOME»FINANCE»PERSONAL FINANCE»INVESTING»GOLD
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

*** begin quote ***

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.”

*** end quote ***

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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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QUOTE: Not enough to cover the giant web of obligations

Thursday, March 28, 2013

“What remains are games of musical chairs, Ponzi schemes, frauds, swindles, stonewalls, ruses, ploys, scams, dodges, bluffs, subterfuges, QE martingales, interventions, rehypothecations, pretenses and other modes of evading or disguising reality. The reality is that there is not enough real wealth to go around, certainly not enough to cover the giant web of obligations that masquerades as ‘money.'” – James Howard Kunstler in an essay titled The Cyprus Fiasco Is A Metaphor For The Entire Global Financial System

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POLITICAL: “… steal the passenger lifeboats …”

Sunday, November 4, 2012

http://lewrockwell.com/holland/holland72.1.html

Gold, Switzerland and the European Secessionist Movement
Anthony Wile interviews Ron Holland
The Daily Bell

*** begin quote ***

Ron Holland: Cutting rates, monetary stimulation and creating more fiat money seems to be the only option left to the central banking cartel in Europe and America. For the US, this creates a higher stock market thus making citizens feel more prosperous and less destitute than they really are. This always occurs during a presidential election campaign as the party in power and the president up for re-election need a positive – or in this case an improving – economy to increase their chances of winning the election. Both parties have done this for the last 40 years or so; nothing unusual here.

I really don’t view monetary easing as particularly harmful as it only postpones the inevitable for a little while longer, like moving up the angle of the Titanic as it was sinking from the bow with the stern higher up in the air. You stay dry for a few minutes longer but in the end, you still drown. Today politicians and central bankers are sort of like some crews on recent sinking cruise ships. They are using their time to steal the passenger lifeboats and safely get away while leaving the passengers to swim to shore or drown.

Also, the European Central Bank (ECB) and banking elite efforts to postpone their day of reckoning in Europe and New York is actually somewhat helpful to American citizens and investors. The investor risk in Europe is actually propelling funds into the American stock and bond markets as well as the dollar buying us a little extra time before the crisis crosses the Atlantic. In addition, the EU problems are helping the dollar in the near term on a relative basis to be stronger than it would be otherwise.

*** end quote ***

This is an insightful metaphor (i.e., the Titanic’s lifeboats).

It’s interesting and dangerous times.

How does the individual protect themselves and their families?

Clearly, one has to diversify one’s risks.

Make “insurance bets”.

If inflation picks up (more than it is now; if you believe the Gooferment’s numbers), then you have to take precautions.

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GOVERNACIDE: Poor growth tied to fiat money; it’s a “killer”

Friday, October 26, 2012

Markets Alert
from The Wall Street Journal

U.S. economic growth picked up in the third quarter as consumers spent more, federal government spending accelerated and the housing industry improved in the months leading up to November’s presidential election.

The nation’s gross domestic product–the broadest measure of goods and services produced by the economy–grew at an annual rate of 2% between July and September, the Commerce Department said Friday.

http://online.wsj.com/home-page?mod=djemalertMARKET

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A national disgrace.

IF you believe the Gooferment’s numbers!

Doesn’t “feel” like 2% to me. Just like “unemployment” doesn’t feel like 8%. And, inflation, don’t make me laff, ain’t ZERO! (Gasoline four years ago was UNDER $2 / per gallon and yday I paid 3¾$ per gallon! That’s 80% over four years or 20% per year. Consider that gas costs gets built into EVERY product and service created!)

Sorry, but we a “KILLING” people.

I trace it back to the “funny money”. It allows the politicians and bureaucrats to fool us. And, the standard that money should represent. 

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MONEY: What is the value of a fiat currency?

Wednesday, August 15, 2012

http://www.silverdoctors.com/cnbc-are-fiat-currencies-headed-for-a-collapse/

Are Fiat Currencies Headed for a Collapse?
Published: Friday, 27 Jul 2012 | 5:27 AM ET
By: Lisa Oake
Anchor, CNBC Asia-Pacific

*** begin quote ***

Shockingly, CNBC even points out in the article that “Every single fiat currency in history has collapsed, this time will be no different.”

*** and ***

A fiat currency derives its worth from the issuing government – it is not fixed in value to any objective standard. That means central banks can print as much money as they want. If an economy is struggling, injecting more notes into the system juices activity but lowers the value of the currency in question.

Mark Mobius, Executive Chairman of Templeton Emerging Markets Group, says investors will soon start to demand fiat currencies be backed by gold or other hard assets.

“It’s already happening, you’re beginning to see that trend with central banks stocking up on gold. The estimate is that at least half of the buying is central bank buying. They are looking to the day when they can say okay, our currency is backed by gold and therefore we’re a strong country,” Mobius told CNBC Asia.

*** end quote ***

Argh!

All one has to do is study a little history and you have to be afraid.

Weimar Republic, Zimbabwe, Iraq — come immediately to mind.

We’ve been the guinea pigs in a hundred year experiment in a fiat currency. Now the free ride is coming to an end.

The fun question is how does it unwind?

With a thud!

Does the Carter-style inflation return? Or does it just start to accellerate, continue, and never stops until the value is zero?

When the wild ride starts, it’s too late to covert to hard assets.

Argh!

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GOLD: Unfunded liabilities

Monday, January 9, 2012

http://lewrockwell.com/spl3/gold-chart-walk-2012.html

Gold Chart Walk 2012
by Morris Hubbartt

*** begin quote ***

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.”

Argh!

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