Reinke Faces Life

http://lewrockwell.com/faber/faber153.html

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”.

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

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http://www.telegraph.co.uk/news/newstopics/howaboutthat/8829908/Biggest-haul-of-Roman-gold-in-Britain-could-have-been-found.html

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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.”

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

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http://www.nysun.com/national/plan-to-return-america-to-the-gold-standard-set/87495/

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

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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.

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

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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.

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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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http://www.wnd.com/index.php?fa=PAGE.view&pageId=279429#ixzz1HnfX2FgQ

Tangible investments … that lick your hand

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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.

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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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And, it’s like a blinking neon sign, to those that don’t.

Be careful not to buy gold from TV ads or to pay more than 10% over spot price. You don’t want “collectibles” or strange coins from strange lands. 1 ounce bullion rounds only.

Gold or silver for investment amounts.

And for those who don’t believe or don’t have the ready funds, don’t forget the “poor man’s gold” — nickels. Last I looked they were worth 8¢ each. (Only the Gooferment can produce “money” and lose money doing it.)

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http://www.survivalblog.com/2011/02/the_nitty_gritty_on_nickels.html

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$300 face value (150 rolls @$2 face value per roll) fit easily fit in a standard U.S. Postal Service Medium Flat Rate Box, and that weighs about 68 pounds.) They can be mailed from coast to coast for less than $25. Doing so will take a bit of reinforcement. Given enough wraps of strapping tape, a corrugated box will securely transport $300 worth of Nickels

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Everyone will laugh at “investing” in nickels, but he who laffs last …

Today, pre-64 silver coins command a 20 times face value. And, that’s what you get retail.

2011 – 1964 = 47 years

20x = 2000%

2000 / 47 = 42% roi

There is NO reason to think that nickels won’t have a similar experience.

Like the author says, the only the things that are certain in life are death, taxes, and inflation!

In fifty years, you’ll be saying “Shoulda, coulda, and woulda! if I’d a listened to that crazy fat old white guy injineer, I’d be rich.” I will be dealing with other problems when you say, so I will be unavailable to say “I told you so.”

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http://www.lewrockwell.com/orig10/fry5.1.1.html

Tracing the Fed’s Vital Role in the Decline of the US Dollar
by Eric Fry

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… let’s consider the plight of two hypothetical buddies from 1914. The first buddy, Caleb, stashes a $500 “rainy day” fund under the floorboards of his house – a roll of ten $50 Ulysses S. Grant dollar bills. The second buddy, Josiah, also stashes $500 under the floorboards – he walks into the neighborhood bank with ten $50 Ulysses S. Grant Gold Certificates and exchanges them for gold. Josiah then takes his gold and hides it under his floorboards.

Both buddies forget about their hidden stashes. Eventually, let’s say 2010, the respective heirs of these two long-deceased buddies happen to conduct simultaneous renovations of their respective residences. Caleb’s heirs find the ten ancient $50 bills. “How quaint,” they think to themselves. Josiah’s heirs find $32,172 worth of gold!

Thus, 98 years of history demonstrates conclusively that a blind monkey could have preserved the dollar’s purchasing power better than a Federal Reserve Chairman. Unfortunately, it’s tough to find a blind monkey who will take the job.

Reprinted with permission from The Daily Reckoning.

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A longer version of my summation: “Which would you rather find? A pirate’s chest of gold coins, a chest full of Confederate money, or a chest full of Federal Reserve Banknotes?”

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http://www.lewrockwell.com/rockwell/gold-standard-never-dies159.html  

The gold standard never dies
LewRockwell.Com
by Llewellyn H. Rockwell, Jr.
(11/12/10)

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John Maynard Keynes thought he had pretty well killed gold as a monetary standard back in the 1930s. Governments of the world did their best to help him. It took longer than they thought. Gold in the money survived all the way to Nixon, and it was he who finally drove the stake in once and for all. That was supposed to be the end of it, and the beginning of the glorious new age of paper prosperity. It didn’t work out as they thought.

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“We, The Sheeple” have to change our thinking. Fiat currency — paper is money because the “King” says it is — is nothing more than an IOU from the politicians and bureaucrats. They have no wealth; they can only spend what they steal from someone else.

Repeal the “legal tender” laws. Let the people choose what they will consider to be money.

Kill the FED.

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http://irisheagle.blogspot.com/2010/11/better-euro-dies-than-we-leave-it.html

Tuesday, November 16, 2010
Better the euro dies than we leave it

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Okay, call me nuts and I don’t really believe that our government or Department of Finance folks have this sort of courage, but what if our government has suddenly realized that the euro doesn’t suit our economy? Would it be better to leave the euro with our tail between our legs or to hope for the complete collapse of the currency?

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Ireland could become the “economic Switzerland” with one “modest” change. Very simple. Leave the euro, create an Irish Currency Unit (the golden Punt?), and tie it to some amount of gold. Forget the current price of gold. Figure out the number of Punts in circulation and how much gold or silver is in the Treasury. Then, the Central Bank opens the “gold window” to buy them back for gold and sell them for gold. Purchasable from the central bank in gold and redeemable by the average joe — paddie in your case — in gold. From the Central Bank’s concern it’s a near zero some game; they can even have a few basis points small commission on each transaction to cover their costs. As the world’s only non-fiat currency, it would quickly become the world’s reserve currency. It makes the Punt worth something intrinsically. internationally as the only non-fiat currency it becomes a proxy for gold. The Central Bank could even mint the golden punt — like the Sadam supported, proposed im Malaysia, golden dinar http://en.wikipedia.org/wiki/Islamic_gold_dinar . What a shock to the global economy. It would hamstring the Irish Gooferment to only spend what it could afford in taxes. But, wow, the recovery would be dramatic.

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http://www.lewrockwell.com/orig11/powell-chris1.1.1.html

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The valid documentation about the gold market also practically screams at financial journalists:

• There are the huge and disproportionate gold, silver, and interest rate derivative positions built up at just two or three international banks, positions that never could be undertaken without the express or implicit underwriting of the U.S. government.

• And there are the dozens of official records, records collected and publicized by GATA over the years, demonstrating the plans and desire of the U.S. government to suppress and control the price of gold.

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Perhaps a few “coins” (i.e., bullion gold, bullion silver, common nickels) might be a valid “investment choice”? But, to avoid all the scams, you have to have them in your possession.

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http://www.lewrockwell.com/holland/holland31.1.html

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If you trust the gold reserves are in Fort Knox then just buy more gold from time to time on price dips. But, if you believe “it’s not just the beer talkin,” then take actions while you still can to secure your gold now before we have a crisis and a repeat of Roosevelt’s confiscation program.

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Regardless of whether or not it’s there, no there, there but we don’t own it, it’s a disaster waiting to happen.

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http://www.lewrockwell.com/orig5/johnsson8.1.1.html

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Gold is probably the only asset that could eliminate the mountains of debt we see today. And the folks in the governments of China, Russia, Nepal, etc., have already realized this. Hundreds of millions of people around the planet has also already realized this. Or rather, they haven’t forgotten, or they haven’t been brainwashed into believing gold is simply a “barbarous relic.” They are accumulating gold. For example, in China the government is running TV ads (available at YouTube) encouraging people to have at least 5% of their assets in physical gold and you can get gold coins and bars at any decent shopping mall, at banks and at airports. I know it’s the same in Russia, and I wouldn’t be surprised if it’s the same in India.

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5% is a modest amount. But, most folks in the US have zero. They may have etfs, or such paper. That’s not gold!

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