FINANCIAL: Great chart of the boom bust cycle

Tuesday, June 17, 2025

 

FROM Bitcoin.com Weekly Update

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You don’t have to wade through a ton of Austrian Economic texts although it’s very worthwhile.  This chart should serve to know why we need “honest money” and should #endtheFed!

By “honest money”, I mean gold and silver in the physical money.  Paper should be redeemable in a commodity.

By “#endtheFed”, I mean that “We, The Sheeple” have to recognize what the Fed is.  The Federal Reserve Bank is a misnomer. It ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians.

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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)

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

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

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

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

Once upon a time, a “dollar” was:

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

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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.

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What is it worth now?

Argh!

Is the answer “not much”?

And shrinking every minute.

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GOLDBUG: 5k$ gold?

Tuesday, July 14, 2009

http://www.bi-me.com/main.php?id=38821&t=1&c=62&cg=4&mset=

Gold is ultimate store of value for a discredited dollar, says Peter Schiff
Author: BI-ME staff
Source: BI-ME
Published: Fri July 10, 2009 4:12 pm

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INTERNATIONAL. Renowned Wall Street financial forecaster and economist Peter Schiff, the president of investment firm Euro Pacific Capital and author of ‘Bull Moves in Bear Markets’ said gold prices are poised for a “spectacular” and prolonged rally as the recession deepens and investors finally become disillusioned with the US dollar.

Schiff, who warned of the October 2008 stock market crash and accompanying recession as far back as 2006, has predicted a gold price of US$2,000, and rising as high as US$5,000 as inflation takes hold.

Speaking at a recent interview with Business News Wire, Schiff suggests that the looming prospect of a hyper-inflationary environment in the US will severely debase the US Dollar over the next few years.

“The global investment community will realise that gold represents the ultimate “store of value” as a safe haven replacement for a discredited dollar,” Schiff said.

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“The only solution to the economic problems that we have today is a return to sound money… The world is ultimately going to have to move away from the ‘Dollar Standard’ and back their currencies with something real. I think gold is the best thing to use. Gold has been money for 5,000 years,” he said.

“One of the reasons that gold isn’t stronger is because of this temporary strength of the dollar. This is keeping the gold market in check. And the dollar is getting some of the safe haven money that should be going into gold,” Schiff added.

“At some point that will stop. The people who are buying dollars will realize that there’s no safety in dollars. Because the central banks are going to try to pay for the economic bailouts and stimuli by looting the world’s savings and by printing money and debasing it.”

“So, if you want to escape that, you hold gold, which is something that the government cannot debase,” he concludes.

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Music to a Gold Bug’s ears.

The implication of 5k$ gold is that inflation as measured in dollars is 400%. That translates to a gallon of gas is $16, a package of hot dogs is $10, and a six pack of cheap beer is $20! Makes Frau’s social security check and my pension a lot lot smaller!

On the positive side, it makes it much easier to pay off the 11T$ “national debt”. But, how do you think the Chinese will feel holding 5T$ of diminished purchasing power? Not too happy!

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