MONEY: Bitcoin “Not Backed”; so what “backs” FRNs?

Thursday, December 7, 2017

https://fee.org/articles/fed-official-decries-bitcoin-as-not-backed/

Friday, December 01, 2017

Fed Official Decries Bitcoin as “Not Backed”
Bitcoin is backed by the use value of the distributed ledger in the underlying technology of the Blockchain.
by  Jeffrey A. Tucker

*** begin quote ***

Randal K. Quarles, a Trump administration appointee to the Federal Reserve Board of Governors and Vice Chair for bank supervision, has given a lengthy speech (“Thoughts on Prudent Innovation in the Payment System”) that directly targets Bitcoin as a danger to the monetary and financial system.

To reiterate, an official speaking for the nation’s central bank that manages the global reserve currency – the institution that has long bragged about its power to bail out the entire world with the magic powers of the alchemist – has put down Bitcoin for being untrustworthy, unbacked, and unsound.

*** end quote ***

Will someone please tell me what is backing up the current Federal Reserve Notes that pass for “money” today?

I can’t believe the hubris of some people.

The Federal Reserve Note, since 1970, has lost 99.99% of its value. There maybe even some 9’s at the end of that percentage.

I’m just shaking me head at this “attack” on bitcoin.

I’m speechless.

You should be too.

Save your nickels! It’s only thing worth anything — it still has some silver content. For now!

Argh!

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TINFOILHAT: Am I Asking the Wrong Questions?

Saturday, June 13, 2015

http://deviantinvestor.com/7070/asking-the-wrong-questions/

Asking the Wrong Questions
Posted on June 3, 2015 by Gary Christenson

*** begin quote ***

We often hear (the wrong) questions such as:

What did politicians know about that scandal?
Will the stock market rally another year?
{Extraneous Deleted}
What happened to penny candy?
How much longer can “they” hold it together?
Will gold prices ever get to $2,000?
And 101 more…

In my opinion these are often the wrong questions. Ask better questions and we receive more relevant answers.

*** and ***

Garbage in, garbage out! Ask better questions and the answers will be more useful. The same thinking that brought the world to this point will not be helpful in solving the problems that threaten our financial well-being.

Gary Christenson

*** end quote ***

I find this funny because HRC won’t answer questions, BHO just flat out lies (i.e., keep your doctor), and politicians just stall until you give up.

Sharyl Attkisson just gave written testimony how the Gooferment evades and stonewalls FOI requests.

And, everything Gooferment plans to do is either classified, secret, or redacted.

So, when the author cites Groucho, I understand.

“Who are you going to believe, me or your own eyes?” —Groucho Marx

It’s related to: “I wouldn’t believe you, if your tongue came notarized.” … attributed to Judge Marilyn Milian, but may have an earlier history.

I see an county that is going quickly in the wrong direction, but have no idea how to stop it.

Argh!

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GOLDBUG: Gold, Silver, and Oil

Monday, July 22, 2013

http://www.marketoracle.co.uk/Article41457.html

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

By: Steve_St_Angelo

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

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

*** end quote ***

Another indication that “someone” is cooking the books.

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

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

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

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

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

Tuesday, December 25, 2012

http://gma.yahoo.com/blogs/abc-blogs/calif-teacher-inherits-recluse-cousins-7-million-gold-192002163–abc-news-topstories.html

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

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

*** begin quote ***

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

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

*** end quote ***

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

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

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

–30–


MONEY: PT is less than AU?

Thursday, October 18, 2012

KITCO Metals quotes

 

 

Take a look at the price of platinum versus gold.

What does this signal?

Price manipulation in the commodities markets in advance of the election?

Wonder when we’ll hear about the derivative contracts that are used to move the market.

Argh!

—30—


GOLD: Joe Scarborough Admits

Wednesday, April 4, 2012

http://www.theblaze.com/stories/joe-scarborough-admits-glenn-beck-has-been-right-about-gold/

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

*** begin quote ***

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

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

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

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

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

*** end quote ***

ROFL!

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

 

 

 

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