GOLDBUG: 8,133 metric tons if it is there

Friday, November 7, 2025

https://www.theburningplatform.com/2025/10/28/more-hints-at-whats-coming-in-2026/

More Hints at What’s Coming in 2026

Administrator — Posted on October 28, 2025Categories 

*** begin quote ***

In an interview last week, the U.S. Secretary of Treasury made an odd statement that was simultaneously ignored and discarded. We caught it, though, and you should again be made aware of what it foreshadows.

And what was that odd statement from Secretary Bessent?

As you undoubtedly know, the U.S. dollar has not been connected to the gold price since 1971 and the U.S. currently carries its 8,133 metric tonnes of gold at $42.22 per ounce. As such, how in the heck does a rising gold price “help the U.S. substantially”? Why does it even matter? And in this context, it’s a very odd thing for the sitting U.S. Secretary of Treasury to say.

However, what if we changed the context?

  • What if, instead, the U.S. is planning to monetize the asset side of its balance sheet?
  • What if, instead, the U.S. is planning to revalue its gold reserves in order to create a “deficit neutral” funding vehicle for its planned Bitcoin Reserve?
  • What if the U.S. Congress was considering a new bill to codify a gold revaluation as part of a Bitcoin and Sovereign Wealth Fund?
  • What if The U.S. Federal Reserve was already studying the impact of an official gold price revaluation?

Under those conditions, the seemingly odd, throwaway comment by Secretary Bessent makes a lot of sense. The higher the gold price, the more “deficit neutral” funding cash becomes available. Again, here’s the process. It’s plainly written into both bills that are currently before Congress:

*** end quote ***

8,133 metric tons is about 259,200,000 ounces at ~4k$ per ounce is 1,036,800,000,000 or ~1T$.

Guess that could make a dent in the 33T$ national debt?  NOT!

— 30 —

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GOLDBUG: The shift from dollar-based global economy to something else is glacially slow but you can see it happening

Saturday, November 2, 2024

https://www.gold-eagle.com/article/commodity-currency-revolution

The Commodity Currency Revolution
Alasdair Macleod
Author & Head of Research @ Goldmoney
April 7, 2022

*** begin quote ***

We will look back at current events and realise that they marked the change from a dollar-based global economy underwritten by financial assets to commodity-backed currencies. We face a change from collateral being purely financial in nature to becoming commodity based. It is collateral that underwrites the whole financial system.

The ending of the financially based system is being hastened by geopolitical developments. The West is desperately trying to sanction Russia into economic submission, but is only succeeding in driving up energy, commodity, and food prices against itself. Central banks will have no option but to inflate their currencies to pay for it all. Russia is linking the rouble to commodity prices through a moving gold peg instead, and China has already demonstrated an understanding of the West’s inflationary game by having stockpiled commodities and essential grains for the last two years and allowed her currency to rise against the dollar.China and Russia are not going down the path of the West’s inflating currencies. Instead, they are moving towards a sounder money strategy with the prospect of stable interest rates and prices while the West accelerates in the opposite direction.

The Credit Suisse analyst, Zoltan Pozsar, calls it Bretton Woods III. This article looks at how it is likely to play out, concluding that the dollar and Western currencies, not the rouble, will have the greatest difficulty dealing with the end of fifty years of economic financialisation.

Pure finance is being replaced with commodity finance

*** end quote ***

We’ve seen the price of gold in dollars rise.  ₿itcoin is another example of the little people seeking to save in the face of massive inflation.  And, those ₿itcoiners who are holding on for dear life (aka HODLers) are obviously big winners and just don’t let go.

Some Gooferment just levied a 42% tax on ₿itcoin capital gains.  Good luck collecting that.  That’s why self-custody is almost mandatory.  I can see generations of family practicing tax evasion and avoidance as wealth is transferred inter-generationally by means of ₿itcoin, precious metal “coins” (i.e., rounds), and other hard invisible assets.  

For the “tiny savers”, for whom the price of gold and silver is too big a barrier to entry, ₿itcoin and Goldbacks are low cost ways to enter the market.

Not every seismic change happens quickly like a Tsunami, Earthquake, or Hurricane.  But like small tremors lead up to a big quake, this is happening right before us.

—30—

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GOLD: Pot of Gold found; testament to its eternal value

Saturday, August 24, 2024

https://www.goodnewsnetwork.org/archaeologists-find-literal-pot-of-gold-but-its-not-in-ireland/

Archaeologists Find Literal Pot of Gold, but it’s Not in Ireland
By Andy Corbley – Aug 8, 202

*** begin quote ***

It’s one of the best things an archaeologist can hope to find: a hoard of gold coins. One was dug up recently in a terracotta pot, meaning that, if one sustains the pun, they found a pot of gold.

They didn’t find it at the end of a rainbow, however, but it was at the ‘end’ of something—Asia—as the Ancient Greeks would have considered it.

Excavations among the ruins of Notion, an ancient city-state in modern-day Turkey, turned up the foundations of a house dating to the Achaemenid Persian Empire buried under another house built from the Hellenistic Period, or about 180 years later.

“The coins were buried in a corner of the older building,” Dr. Christopher Ratté, lead archaeologist on the project, told the New York Times. “We weren’t actually looking for a pot of gold.”

The coins are known as darics, which stems from the name of the Emperor Darius I, or from ‘dari-‘ the root word for gold in the Persian language. Dating to the 5th century BCE, it was a time of great upheaval as Greek city-states fought against each other, against Persia, and sometimes on behalf of Persia against other Greeks, when mercenary soldiers made up key components of many major armies in Asia Minor.

The running hypothesis as to the coins’ provenance is that they were buried with the full intention of recovering them later. They probably represented savings, as each daric would be around one month’s pay. However, the fact that they were never dug up from their little hole in the corner of the house suggests the worst.

*** end quote ***

For a number of reasons, I loved this story.  Sad for the original owner who never was able to retrieve his stash.  Wondering about any reward for the discoverers.  Curious how much they are worth.

Mine aren’t buried, but could be if need arises. 

There is something practical about having stashes and caches in turbulent times.

As usual, the politicians and bureaucrats of the Gooferment want everything they can steal so stash and cache are two prudent strategies for dealing with the modern day equivalent of pirates.

Argh!

—30—

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GOLD: Time to become a gold bug — just like a good Hindu should

Wednesday, July 3, 2024

https://internationalman.com/articles/time-to-become-a-hindu/

Time to Become a Hindu by Jeff Thomas

*** begin quote ***

For centuries, East Indians have regarded gold as the primary source of wealth. All Indians own gold if they can afford to. They keep it as close as possible, sometimes in coin form, but often as jewellery, since “wearing wealth” means that it can be kept very close. They’re often especially reluctant to trust banks to hold their gold.

Hindus make up 80% of India’s population and, to Hindus, gold is sacred. Lakshmi (pictured above) is the Hindu goddess of purity, prosperity and good fortune. Her symbol is gold, so gold plays an important part in Hindu ceremonial occasions and Hindus donate large amounts of gold to the temples in Lakshmi’s name.

In recent years, the Indian government has tried one ploy after another to gain control of the temples’ gold. The most recent ploy was a programme whereby the temples could deposit the parishioners’ gifts to Lakshmi in banks. The gold would then be melted down and the temples would be given cash in an amount that would exceed the value of the gold.

*** and ***

As every Indian – even those of limited means – understands, the greatest protection from such looting by governments is to liquidate assets and convert the proceeds into precious metals.

It’s unlikely that the average westerner will become a Hindu, but, if he’s wise, he’ll acquire his own personal Lakshmi in the form of precious metals storage and he’ll do so outside of his home jurisdiction, in order to have even greater insurance against confiscation.

*** end quote ***

FDR’s diktat robbed Americans of their gold and their freedom at the same time.  Time to take both back!

—30—

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GOLD: Time to become a gold bug — just like a good Hindu should

Sunday, June 30, 2024

https://internationalman.com/articles/time-to-become-a-hindu/

Time to Become a Hindu by Jeff Thomas

*** begin quote ***

For centuries, East Indians have regarded gold as the primary source of wealth. All Indians own gold if they can afford to. They keep it as close as possible, sometimes in coin form, but often as jewellery, since “wearing wealth” means that it can be kept very close. They’re often especially reluctant to trust banks to hold their gold.

Hindus make up 80% of India’s population and, to Hindus, gold is sacred. Lakshmi (pictured above) is the Hindu goddess of purity, prosperity and good fortune. Her symbol is gold, so gold plays an important part in Hindu ceremonial occasions and Hindus donate large amounts of gold to the temples in Lakshmi’s name.

In recent years, the Indian government has tried one ploy after another to gain control of the temples’ gold. The most recent ploy was a programme whereby the temples could deposit the parishioners’ gifts to Lakshmi in banks. The gold would then be melted down and the temples would be given cash in an amount that would exceed the value of the gold.

*** and ***

As every Indian – even those of limited means – understands, the greatest protection from such looting by governments is to liquidate assets and convert the proceeds into precious metals.

It’s unlikely that the average westerner will become a Hindu, but, if he’s wise, he’ll acquire his own personal Lakshmi in the form of precious metals storage and he’ll do so outside of his home jurisdiction, in order to have even greater insurance against confiscation.

*** end quote ***

FDR’s diktat robbed Americans of their gold and their freedom at the same time.  Time to take both back!

—30—

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GOLD: Time to become a gold bug — just like a good Hindu should

Sunday, June 30, 2024

https://internationalman.com/articles/time-to-become-a-hindu/

Time to Become a Hindu by Jeff Thomas

*** begin quote ***

For centuries, East Indians have regarded gold as the primary source of wealth. All Indians own gold if they can afford to. They keep it as close as possible, sometimes in coin form, but often as jewellery, since “wearing wealth” means that it can be kept very close. They’re often especially reluctant to trust banks to hold their gold.

Hindus make up 80% of India’s population and, to Hindus, gold is sacred. Lakshmi (pictured above) is the Hindu goddess of purity, prosperity and good fortune. Her symbol is gold, so gold plays an important part in Hindu ceremonial occasions and Hindus donate large amounts of gold to the temples in Lakshmi’s name.

In recent years, the Indian government has tried one ploy after another to gain control of the temples’ gold. The most recent ploy was a programme whereby the temples could deposit the parishioners’ gifts to Lakshmi in banks. The gold would then be melted down and the temples would be given cash in an amount that would exceed the value of the gold.

*** and ***

As every Indian – even those of limited means – understands, the greatest protection from such looting by governments is to liquidate assets and convert the proceeds into precious metals.

It’s unlikely that the average westerner will become a Hindu, but, if he’s wise, he’ll acquire his own personal Lakshmi in the form of precious metals storage and he’ll do so outside of his home jurisdiction, in order to have even greater insurance against confiscation.

*** end quote ***

FDR’s diktat robbed Americans of their gold and their freedom at the same time.  Time to take both back!

—30—

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GOLD: What does 80K$ / oz mean?

Saturday, December 30, 2023

https://www.zerohedge.com/markets/2023-goodbye-all

2023: Goodbye To All That
by Tyler Durden
Thursday, Dec 21, 2023 – 11:00 PM
Authored by Clive Hale via ‘The View From The Bridge’,

  • “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.”
  • Forecasts create the mirage that the future is knowable – Peter Bernstein

*** begin quote ***

    It may seem quaint, but there was a time pre-1971 when you could divide the monetary aggregates (there are several) by the amount of gold held by the US Treasury and you would derive the reference price of $35/oz.

    And in 1980 when gold soared to $800/oz the dollar was 100% backed by the gold the US held.

    What is shocking is the amount of paper money created since that time frame.

    If one were to do the same calculation today (monetary aggregates/gold ounces held by the US Treasury) it would take a gold price of $80,000/oz to balance the equation.

    A far cry from today’s $1,950/oz.

*** end quote ***

Wow, I’m not predicting that will be the price.  I am predicting that the value of the U$D has been largely “inflated” away and the rubes aka “We, The Sheeple” just haven’t realized it yet.

I wonder when Joe-Sixpack in the Weimar Republic in the 1920’s realized that his German Marks weren’t good for anything but as firestarter.  Likewise the folks in Zimbabwe who went out to pan for gold to buy bread.

Things retain “wealth” as folks eventually learn after getting screwed by politicians and bureaucrats with their paper money.

—30—

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GOLD: And you thought only baggage handlers were this brazen?

Sunday, October 1, 2023
 
FBI sued after allegedly losing hundreds of thousands in rare coins during raid | Fox News
Jeni Pearsons says FBI may have stolen $2,000 from her safe deposit box: ‘They took it or lost it’
By Teny Sahakian Fox News
Published September 24, 2023 9:00am EDT 
 
*** begin quote ***
 
Mellein, a 79-year-old retired civil servant, kept cash and 110 gold coins worth hundreds of thousands of dollars in his box to safeguard his financial security. He invested in the precious metals with the proceeds after he and his wife sold their Malibu home in 2002. 
 
Pearsons and her husband Michael Storc similarly rented a security deposit box in 2017 as a financial safeguard, storing around $20,000 in silver and $2,000 in cash. 
 
*** end quote ***
 
Those 110 gold coins represent a tidy sum.  No idea if they were Bullion or Numismatic.  Either way not simething to sneeze at.
 
Why is “civil forfeiture” even allowed?  
 
It’s really just another form of Gooferment theft!
 
Better off digging a hole in your backyard!
 
—30— 

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GOLDBUG: Gold vending machines should come to the USA

Monday, June 26, 2023

https://www.zerohedge.com/commodities/gold-bar-vending-machines-rolled-out-south-korean-convenience-stores

Gold-Bar Vending-Machines Rolled-Out At South-Korean Convenience-Stores
by Tyler Durden  — Friday, Jun 23, 2023 – 04:15 AM

*** begin quote ***

Buying physical precious metals is a time-proven method of securing generational wealth while reckless central bankers debase currencies and ignite the worst inflation storm in a generation. Gold and silver investing has long been seen as a hedge against inflation and a store of value against currencies. Access to physical precious metals is challenging and usually involves a bullion dealer. Sometimes online dealers take weeks to receive the delivery. 

South Korean convenience store GS Retail, with 10,000 locations, has understood the soaring demand for ‘sound money’ and wants to enhance accessibility. The company rolled out gold bar vending machines with offerings in five sizes, weighing 0.13 ounces to 1.3 ounces, according to UPI News Korea. 

“The most popular gold bar is the smallest, the 0.13-ounce one, which is currently priced at around $225,” a GS Retail representative told the media outlet. 

*** end quote ***

How else can some youngster “save” for retirement?

Certainly it’s NOT in “dollars” or even in dollar-denominated assets.  When the FED, aka the Gooferment, is inflating the fiat currency into worthlessness.  Remember Zimbabwe and the Weimar Republic?  Coming soon to the USA.  

How long can the Ponzi scheme last?

—30—

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GOLDBUG: And, the Decline of the (American) Empire began … …

Friday, May 19, 2023

https://dailyreckoning.com/dec-23-1913/

Dec. 23, 1913  — “I’ll do the deed first,” said the president of the United States, Woodrow Wilson. “And then I’ll have something to say.”

By Byron King  — May 13, 2023

*** begin quote ***

The Dollar’s Lost 99% of Its Value Since 1913

And as the U.S. monetary system stood, this is how things were established on Christmas Eve, 1913, when President Wilson used four gold pens to sign a new law to create a central bank for the U.S., and to help U.S. business better function in a world still working on a classical gold standard.

Now, not quite 110 years later and in no small measure due to long-term efforts of the Federal Reserve, that old $20 American gold coin is worth nearly $2,000 just for the precious metal, let alone the scarcity premium and markup for whatever value may come with numismatic rarity.

In other words, do the math here: Over the past century and one decade, the value of a dollar has declined by 99% if you use gold as the basis for comparison.

Looking ahead, where do things go? Well, we could discuss it all day.

*** end quote ***

Penny candy, the nickel cigar, the dime store novel, and three silver dime gas  — all represent the counterfeiting of the dollar.

The Dead Old White Guys knew the result of paper money.  They had seen France descend into “democratic” chaos as the franc went from a gold hockey puck to thin shirt button.  

The rich got richer until the mob chopped off their heads.

Is the USA heading for the same fate?

IDK but at best it might dissolve just like the Soviet Union.  

Hopefully, the ₿itcoin or gold might save us from chaos.

—30—

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GOLD: End the FED, FDIC, FLIC, Freddie,

Saturday, May 13, 2023

https://www.lewrockwell.com/2023/05/lew-rockwell/the-big-government-big-bank-plot-to-exploit-us/

The Big Government-Big Bank Plot To Exploit Us
By Llewellyn H. Rockwell, Jr.
May 8, 2023

*** begin quote ***

Putting an end to inflation requires not only the abolition of the Fed but also the abolition of the FDIC and FSLIC. At long last, banks would be treated like any firm in any other industry. In short, if they can’t meet their contractual obligations they will be required to go under and liquidate. It would be instructive to see how many banks would survive if the massive governmental props were finally taken away.”

We must do everything we can to end our corrupt monetary system, which threatens to bring down our economy through runaway inflation and bank insolvency. We need to restore the gold standard and end the Fed.

*** end quote ***

The only way to get Leviathan Gooferment under control is to starve it of resources, 

A gold based currency would “put the genie back in the bottle”. 

Gooferment politicians and bureaucrats would have to collect taxes and fees to run.  

Finally the “little people” could get a fair deal and opposed to all the other “Deals” they have been getting from Gooferment  — new, fair, square, etc etc.

—30—

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GOLDBUG: When priced in gold, beer was $3 a litre in 301AD

Friday, February 17, 2023

https://www.lewrockwell.com/2023/02/alasdair-macleod/golds-return-as-money/

Gold’s Return as Money
By Alasdair Macleod
Goldmoney
February 17, 2023

*** begin quote ***

To confirm gold’s price stability, we can go even further back to the time of Diocletian, who produced his edict of maximum prices in 301AD. The circumstances were that the purchasing power of the denarii coin was falling due to its debasement. From the edict, we find that a gramme of gold was fixed at 216 denarii, giving us a conversion value for goods listed in the edict for comparison with today. From this, we know that in today’s currency pork was about $4 a pound, sea fish about $8 a pound and a dozen eggs $3.32. Vin ordinaire was $2.96 for a 75cl bottle, and good quality wine $11.10 a bottle. Beer was $3 a litre. Clearly, prices for staples which we still consume were similar to today, irrefutable evidence that gold valued as money is stable even over thousands of years. 

*** end quote ***

The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion — policemen, customs guards, penal courts, prisons, in some countries even executioners — had to be put into action in order to destroy the gold standard. Solemn pledges were broken, retroactive laws were promulgated, provisions of constitutions and bills of rights were openly defied. And hosts of servile writers praised what the governments had done and hailed the dawn of the fiat-money millennium. — Ludwig von Mises

I always use my three silver dimes for a gallon of gas in the Sixties to demonstrate that the “dollar” has lost its purchasing power due to inflation.  That and “penny candy” which has long since disappeared. 

I can’t translate what $3 per liter of beer equates to, money wise BUT, (and there is always a BIG butt), I do know that a liter is about 33 fluid ounces. That’s about two 16 ounce bottles that I pay 6$ each for at the local tavern.

So in 301AD two bottles would be 3$ and today it’s 12$.

So when the politicians and bureaucrats tell you “what inflation?”, you can tell them %$^#&@( themselves.

Argh!

—30—

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GOLD: The Shrinking Trust Horizon will boost the value of gold

Friday, February 3, 2023

https://www.zerohedge.com/markets/gold-and-shrinking-trust-horizon

Gold And The Shrinking Trust Horizon
Via John Rubino’s Substack,

*** begin quote ***

Last week I posted an article on the implosion of the official vaccine narrative.

That’s a controversial topic so not surprisingly it generated some heat on both sides. And a few readers expressed the wish that I’d stay in my lane (precious metals investing) and avoid venturing into unrelated and less well understood territory.

But believe it or not, the public health establishment losing its credibility is related to precious metals, via something called the trust horizon. It works like this: When things are good and the people in charge of big systems seem to be running them well, we’re content to trust the experts. We keep most of our money in banks, brokerage houses, and crypto wallets that exist for us only as websites. We buy produce that’s grown in a different hemisphere and shipped via boats, trains, and trucks to corporate chain grocery stores. We vaccinate ourselves and our kids according to the schedules set by the NIH or the CDC. We pop pills on our doctor’s orders without doing any research. We eat processed foods on the assumption that the FDA keeps them free of dangerous additives. And we believe what we see on cable news.

In other words, our trust horizon, defined as the distance from ourselves at which we’ll believe what we’re told, is global. We assume everything everywhere is working for our benefit and we’re thus willing to put our welfare in those distant hands.

*** end quote ***

So everytime the Gooferment screws up, “We, The Sheeple” trust it less.

Guess what happens when they realize that their wealth has been stolen by monetary inflation?

—30—

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GOLDBUG: When does the clock strike midnight and Cinderella’s dream world end?

Tuesday, November 22, 2022

https://www.lewrockwell.com/2022/11/alasdair-macleod/the-upside-down-world-of-currency/

The Upside-Down World of Currency
By Alasdair Macleod
Goldmoney
November 19, 2022

*** begin quote ***

The gap between fiat currency values and that of legal money, which is gold, has widened so that dollars retain only 2% of their pre-1970s value, and for sterling it is as little as 1%. Yet it is commonly averred that currency is money, and gold is irrelevant.

*** and ***

At some stage, the inversion of monetary reality, where legal money is priced in fiat, will change. Instead of legal money being priced in fiat, fiat currencies will be priced in legal money. But that will be the death of the fiat swindle.

*** end quote ***

Goldbugs have been predicting disaster since the 60’s when the welfare / warfare state went financially nuts.

It’s hard not to be a permanent-bear when the “facts” seem so obvious.

Nothing seems to wake up “We, The Sheeple” who are sleepwalking towards this economic disaster.

Look at modern day Japan that has a debt to GDP of 230%.  The USA is 124%.  This is pure insanity.

What can we tell future generations other than “sorry suckers; deal with it”?

What should we be telling people to do?  Like Casandra, the Oracle at Delphi, who could see the future but couldn’t change it.

If I was advising a youngster, then it would be to study and live like the Amish. Buy land, do some farming, bury some bullion, get a cheap education, minimize your wants, and prepare for the hard times to come.

Success for your generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.

Like the Amish!

Argh!

—30—

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GOLD: A gold back currency

Saturday, April 2, 2022

https://www.theburningplatform.com/2022/04/02/russia-could-be-planning-the-ultimate-gold-move/

Russia Could Be Planning the Ultimate Gold Move

*** begin quote ***

Imagine the global response to the first national currency of the 21st Century backed by physical gold! At a stroke, Russia could reposition itself as a globally relevant economy, virtually guarantee international investor interest, and re-establish its currency as a store of value. And it could do all this without violating sanctions.

Consider the response from the U.S. and EU, both suffering four-decade high inflation, both crippled by debt and awash in freshly-printed currency. A new Russian gold standard would represent an economic coup over the west. All without firing a single shot.

Though the odds of such a move seem low, it looks like the kind of out-of-left-field move that Putin delights in. We’ll be paying close attention to developments in this story over the next few months.

*** end quote ***

Hell, I’d buy me some roubles.  A gold back currency,  Where do I sign up?

—30—

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GOLDBUG: Time to diversify savings?

Saturday, February 12, 2022

EMAIL TO LUDDITE AND OTHERS

Bitcoin: The Inevitable Path Toward Global Adoption Of The Next World Reserve Currency https://www.zerohedge.com/crypto/bitcoin-inevitable-path-toward-global-adoption-next-world-reserve-currency

So, if the USD has a shelf life partially due to historical precedence and partially due to fiscal irresponsibility (overprinting of the money supply), what comes next? What replaces the USD? Another fiat currency? It’s possible, but my guess is the days of trusting a centralized party to maintain a stable supply of a currency have come and gone. Why trust, when you can just verify? An argument could be made that gold is today’s reserve asset as it is held by the majority of central banks.

RESPONSE

Not sure what to say on this, it’s above my pay grade.

MY CONCLUSION

Me neither. But, with the Gooferment’s inflation destroying the U$D’s value, it would seem that “diversification” of savings is essential to preserving what little wealth one has. 

Pre-1913, people saved gold and silver coins.  Since there was a gentle price deflation in the USA during that interval, it was a great strategy for preserving wealth.  After 1913, the erosion began, I blogged in June of 2006 about Evy’s Dad and his Fifty Dollar bill  —

https://reinkefaceslife.com/2006/06/30/rant-a-visit-from-one-of-my-favorite-socialists/

*** begin quote ***

My now departed father in law used to have a folded up fifty dollar bill in his wallet. He had carried it their since he was a young man, so that he’d “never be broke”. He was blue collar working guy. Salt of the either. Raised his family, paid his bills, and did the best he could. He was poor! BUT, he never realized, (I didn’t tell him cause he wouldn’t have believed me! I was just a child in his eyes.) that HIS beloved DEMOCRATIC (not that the R’s are any different), silently stole his “fifty in sunken city”. Yup, when he put that Fifty in his wallet if could buy lots of stuff: A hundred gallons of gasoline. Feed his family for a week. Ffity cartons of his beloved Lucky Strikes. Pay an entire hospital bill for an accident. It had value 60 years ago. After 60 years of inflation, I didn’t have the heart to tell him that his beloved Fifty was really was worth about 13 cents. Sad isn’t it.

*** end quote ***

As you know I like gold and silver bullion coins, but recently I’ve been thinking about diversifying to bitcoin.  Now I’m thinking about GOLDBACKS. I’ve dabble in BITCOIN and ETHERIUM.  I’ll probably dabble in GOLDBACKs too.  My bullion coin dealer is shifting out of coins and into middleman.  (Why use him when I can go directly AMPEX or others?). Sigh. So in March, I’ll be shifting.  Not sure exactly what mix but I’ll do something.

YMMV

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“Three hundred years from now where will you be and where shall I be?” — Thich Nhat Hanh

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GOLD: Central Bank digital currencies are the path tp further devaluation of the US$

Sunday, September 12, 2021

https://www.activistpost.com/2021/09/warning-digital-currencies-portend-deeply-negative-interest-rates.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+ActivistPost+%28Activist+Post%29

Warning: Digital Currencies Portend Deeply Negative Interest Rates
TOPICS:Banking,CBDC,Patrick Wood,Technocracy
SEPTEMBER 8, 2021

As a matter of Technocrat policy, “If people can’t hoard physical money, it becomes much easier to cut rates far below zero.” This means your banked funds risk being plundered at the will of the policy makers. Eventually, all money accrues to the takers while the depositors see their wealth vanish. ⁃ Technocracy News & Trends Editor Patrick Wood

By: James Mackintosh via WSJ

*** begin quote ***

Investors have been ignoring progress toward government-issued electronic money, even as many countries are progressing rapidly toward their own online cash. They should ask two questions: Will the Federal Reserve issue a digital dollar? And will it eventually replace physical bank notes?

I think the answer to both questions is yes, and those who agree should be assessing the impact on future monetary policy already, because dramatic change is likely within the timespan of the 30-year Treasury.

The main monetary power of the digital dollar comes from the abolition of bank notes. If people can’t hoard physical money, it becomes much easier to cut interest rates far below zero; otherwise the zero rate on bank notes stuffed under the mattress looks attractive. And if interest rates can go far below zero, monetary policy is suddenly much more powerful and better suited to tackle deflation.

*** end quote ***

Holding gold and silver is one strategy to defeat the Central Bankers.

Crypto currencies like ₿ Bitcoin and Bitcoin cash or other “private” digital currencies might (EMPHASIS on the MIGHT) be another strategy.

Central Bank cryptos are merely a way to keep “We, The Sheeple” in the pen to be sheered or worse.

Argh!

“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand? . . .” — Alexander Solzhenitsyn

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GOLDBUG: What if all the gold in Fort Know has long since left the country

Monday, August 9, 2021

https://www.zerohedge.com/markets/extinction-gold-derivatives?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

The Extinction Of Gold Derivatives
BY TYLER DURDEN
SATURDAY, AUG 07, 2021 – 07:00 AM
Authored by Alasdair Macleod via GoldMoney.com,

*** begin quote ***

The escape route of digital currencies probably explains why reducing the role of commercial banks in financial markets by curtailing their derivative activities is not raising serious concerns at the central bank level, let alone over the likely impact on the gold price. We can only conclude that at the highest levels of government the authorities are no longer concerned that a rising gold price is a challenge to fiat currencies and can be simply dismissed — in which case they will have underestimated the likely consequences of reversing a fifty-year tide of gold suppression.

*** end quote ***

All fiat currencies fail; it’s just a question of when.

In the pre-Fed pre-FDR days, one could save gold and silver coins as a “store of value”.  Since then “everyone” believes in the good old U$D.

I don’t.  

Catholic high school, taught by grizzly vets of WWII and Korea turned into religious, we learned Roman history.  Often struggling over the Latin. “nequam” stuck in my mind about the amount of silver in the Roman denarii.  

On a visit to the Smithsonian, I saw a display of the French franc of Louis I to Louis XVII which went from a hockey puck of gold to a paper thin shirt button.

At least in those cases, you could see the only shrink.  Now the FRB “greenbacks” look the same but their value has shrunk to next to nothing.

I don’t know when this very ugly chicken will come home to roost, but it will come.

Anyone not saving some silver and gold coins will have a rude awakening.

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GOLDBUG: TWO DOZEN REASONS WHY OWNING PHYSICAL GOLD IS IMPERATIVE

Thursday, April 1, 2021

https://goldswitzerland.com/why-buy-gold-when-there-is-bitcoin-tesla/

WHY BUY GOLD WHEN THERE IS BITCOIN & TESLA
March 24, 2021By Egon von Greyerz

*** begin quote ***

TWO DOZEN REASONS WHY OWNING PHYSICAL GOLD IS IMPERATIVE

Let me give people who are frustrated with the gold price the reasons why they shouldn’t be:

1. Firstly, physical gold is not bought for instant gains but as insurance and protection against a rotten financial system and constantly depreciating currencies.

*** and ***

5. In relation to US money supply, gold is today at the same level as in 1970 when the gold price was $35 or in 2000 when gold was $290.

*** and ***

20. Exponential deficit and debt growth combined with galloping money printing will inevitably destroy most paper currencies in coming years.

21. The major structural shortages of physical gold and a failure of the gold paper markets could make physical gold unavailable at any price.

*** end quote ***

Yes, I am a goldbug. Aside from its beauty and simplicity, it’s the only asset without a counterparty risk.

When I consider the debt and deficit, I don’t understand how the USA doesn’t become like the Weimar Republic?  (You know where the children played with bank notes, bundled of notes were burned for heat, and some wag said: “Only government can take perfectly good paper, cover it with perfectly good ink and make the combination worthless.”  (Yes, I know it was Milton Friedman)

When you consider the currently in charge politicians and bureaucrats, who want to raise taxes and create a wealth tax, what better way to “insure” your portfolio.

Remember in “beans, bullets, bandaids, and bullion”, gold is number 4. 

I won’t quibble if you add a fifth B — bitcoin — to the list.

Sigh!

Glad I won’t be around to observe or absorb the suffering.

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GOLD: Will the price of gas reflect the price of gold?

Friday, July 31, 2020

“… … the idea that gold will break above $5,000 per ounce in due time.”
https://www.economicpolicyjournal.com/2020/07/gold-price-breaks-above-1900.html

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​This will be a disaster for Joe Sixpack and “We, The Sheeple”.

5k$/oz gold implies 50$​/oz silver and if I go my math correctly 12.50$/gal gasoline.

I don’t think the USA can survive that.

Today the price of gold and silver is artificially suppressed by the Gooferments and the Central Banks of the world.  If, and not so big an “if” imho, the U$D loses its “reserve currency” status and the “petrodollar” monopoly ends,  the USA will be hurting as the “very ugly chickens” come home to roost (i.e., the FED printed trillions come back to the USA).

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GOLDBUG: The Greatest Gold Quotes Of All Time | Zero Hedge

Tuesday, February 25, 2020

“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.” – Norm Franz

Source: The Greatest Gold Quotes Of All Time | Zero Hedge

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I liked this one best!

“We are often told that the Gold Standard will shackle us to the United States. I will deal with that in a moment. I will tell you what it will shackle us to. It will shackle us to reality. For good or for ill, it will shackle us to reality.” – Winston Churchill

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GOLDBUG: This Gold Rally Is Different For One Critical Reason

Thursday, September 12, 2019

From Birch Gold Group This week, Your News to Know rounds up the latest top stories involving gold and the overall economy. Stories include: Why the gold rally might be different this time, gold could continue to soar if the Fed keeps cutting rates, and gold and silver prices push higher following weak U.S. jobs data.

Source: This Gold Rally Is Different For One Critical Reason

*** begin quote ***

Isbitts believes that this one, however, will be markedly different. In the previous two instances, while the gold market flourished, it also had a safe-haven competitor in the form of government bonds, as the 10-year Treasury’s yields stayed between 4% and 5%.

*** end quote ***

It certainly seems that the Gooferment bonds are no longer competitive in the “safety” dimension. Nor, would they compete on the “ROI” dimension (i.e., gold pays no interest)!

It’s a sad state of affairs the “We, The Sheeple” will find themselves in. Like Venezuela, Zimbabwe, and German Weirmar Republic.

Hope everyone is saving nickels since they are the only currently circulating US coin with any intrinsic value.

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GOLDBUG: Seems real simple!

Thursday, April 18, 2019

Goldtradewar

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GOLD: How can we ever get the debt and continual deficits under control?

Monday, February 12, 2018

https://www.zerohedge.com/news/2018-02-08/strong-dollarweak-dollarwhat-about-gold-backed-dollar

“Strong Dollar”…”Weak Dollar”…What About A Gold-Backed Dollar?
by Tyler Durden
Fri, 02/09/2018 – 05:00

*** begin quote ***

Contradictory Palaver

The recent hullabaloo among President Trump’s top monetary officials about the Administration’s “dollar policy” is just the start of what will likely be the first of many contradictory pronouncements and reversals which will take place in the coming months and years as the world’s reserve currency continues to be compromised.  So far, the Greenback has had its worst start since 1987, the year of a major stock market reset.

*** end quote ***

How can we ever get the debt and continual deficits under control as long as the Gooferment has an unlimited checkbook?

Argh!

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GOLD: Why should gold be money? No bureaucrats required!

Sunday, July 16, 2017

2017-Jul-16

From (the brilliant) Alasdair Macleod: “Understanding Money and Prices”

“Gold matters, because, excepting silver, it is the only form of money that has survived since individuals discovered the convenience of money over barter. It is beyond the control of governments, as they cannot issue it without acquiring it first. It is subject to the constraints of its quality, so that as a medium of credit it cannot be debauched, only defaulted upon. Its relative inflexibility and its soundness are the primary reason governments do not like monetary gold, and force their preferred alternative on their citizenry. The vested interest of government is therefore to discourage, or even ban the use of gold as competing money.”

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Imagine the world without any “central banks”?

Imagine the world without bureaucrats “setting” interest rates?

Imagine the world without politicians borrowing “money” to spend to buy votes?

Sounds like a pretty good world to me.

You could save for your retirement and know that Gooferment “inflation” couldn’t steal your wealth from you.

If a politician wants to start a war, then they have to pay for it.

If a bureaucrat wants to increase his staff, then they have to pay for it.

If the “community organizer” wants to get “free” stuff, then they have to pay for it.

Go ahead “raise taxes” and see how that worshippers out for you.

Argh!

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GOLDBUG: Alternatives to “soon be virtually worthless Federal Reserve Notes”

Tuesday, May 30, 2017

https://www.lewrockwell.com/2017/05/no_author/another-ron-paul-victory/

LewRockwell.com anti-state•anti-war•pro-market

In Blow to Federal Reserve, Arizona Just Legalized Gold and Silver as Currency
By Shaun Bradley
The Anti-Media
May 27, 2017

*** begin quote ***

The current economic realities affecting our quality of life will continue to force local representatives to take action while Congress faces gridlock. Without establishing alternative options for communities across the country, our entire standard of living may fall fully into the hands of the establishment politicians in Washington DC — more so than it already has.

There is a subtle ongoing realization that no matter what the pundits and politicians claim, there is no easy way out of this mess. The public’s confidence in central banking is clearly eroding, and hopefully, it will be enough to allow a new kind of financial freedom that hasn’t been seen in the United States’ economic system for over 100 years.

*** end quote ***

It’s not enough to see the future. One MUST be able to change it. That was the Oracle at Delphi’s problem.

I’m not a fatalist; just a cynic.

The politicians and bureaucrats are worried about any future; other than their own.

Maybe I should be so short sighted.

Save your nickels.

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