24hourcampfire.com
24hourcampfire.com
Previous Thread
Next Thread
Print Thread
Hop To
Page 2 of 3 1 2 3
Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by TF49
Originally Posted by antelope_sniper
They are not manipulating gold. Gold goes down during a bull market in stocks. Gold won't begin heading north again until interest rates start jumping up quickly.




Gold price manipulated???

http://www.bloomberg.com/news/2014-...igns-of-decade-of-bank-manipulation.html

http://www.zerohedge.com/news/chris-martenson-explains-how-gold-manipulated-and-why-thats-okay

Fact of the matter is that the Fed is "in" a number of markets.

Also, you may want to check the correlation of gold and the DOW. Often they move in concert. Depends upon the time period chosen depending on how one desires to promote a premise.

TF


Martenson, another nut, who predicted we were already at peak oil in 2008, predicting oil was headed to $200.00 a barrel.

He reminds me of Jevons prediction that we were at peak coal in the 60's....1860's that is. We have more reserved now then ever.

Martenson is just another permabear.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
BP-B2

Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
Originally Posted by TF49
Originally Posted by antelope_sniper
They are not manipulating gold. Gold goes down during a bull market in stocks. Gold won't begin heading north again until interest rates start jumping up quickly.




Gold price manipulated???

http://www.bloomberg.com/news/2014-...igns-of-decade-of-bank-manipulation.html

http://www.zerohedge.com/news/chris-martenson-explains-how-gold-manipulated-and-why-thats-okay

Fact of the matter is that the Fed is "in" a number of markets.

Also, you may want to check the correlation of gold and the DOW. Often they move in concert. Depends upon the time period chosen depending on how one desires to promote a premise.

TF


Martenson, another nut, who predicted we were already at peak oil in 2008, predicting oil was headed to $200.00 a barrel.

He reminds me of Jevons prediction that we were at peak coal in the 60's....1860's that is. We have more reserved now then ever.

Martenson is just another permabear.




AS,

Abusive fallacy � a subtype of "ad hominem" when it turns into verbal abuse of the opponent rather than arguing about the originally proposed argument.

You seem not able to participate without resorting to discrediting an author or premise by simply dismissing them as a "kook."

I think you should do a quick internet search and post some links.

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
If you want to sell all your stocks and buy Gold, be my guest. We will see where both are in a year.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
If you want to learn about economics, start with the best:

Uncle Milton explains it better then I can:



You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
If you want to sell all your stocks and buy Gold, be my guest. We will see where both are in a year.


AS,

Now you know I did not say or recommend the sale of stocks and to buy gold. I did however point out that stocks and gold sometimes move together.

YOU are the one that said stocks and gold move in opposing directions.

Are you trying to lead readers to a false conclusion? It would seem so.

You erroneously define my position and then you debate your own mistatement!

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

IC B2

Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
AS,


A MF quote:

Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer�and the right answer�is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Money Mischief (1992), Ch. 2 The Mystery of Money


So what happens when folks lose that belief? That thought is already with us and is a growing concern in the US.

MF charted the course and set the US on its current tack.

Milton Freidman took the easy way out and traded away long term stability for short term gains. May have been in the pocket of the bankers and politicians. He was pro debt and pro inflation but, in his favor, he did seem to know that limits existed. That seems forgotten now.

Debt does not go away. It is always paid. By someone in some way.

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
http://www.spdrgoldshares.com/media/GLD/file/Gold%26USStockIndicesDEC200120fina.pdf

Originally Posted by From the abstract
The short-run correlation between returns on gold and returns on US stock price
indices is small and negative and for some series and time periods insignificantly
different from zero.... Only
short-run relationships are evident. Granger causality tests find evidence of unidirectional causality from US stock returns to returns on the gold price set in the London morning fixing and the closing price. For the price set in the afternoon fixing, there is clear evidence of feedback between the markets for gold and US stocks.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
http://www.spdrgoldshares.com/media/GLD/file/Gold%26USStockIndicesDEC200120fina.pdf

Originally Posted by From the abstract
The short-run correlation between returns on gold and returns on US stock price
indices is small and negative and for some series and time periods insignificantly
different from zero.... Only
short-run relationships are evident. Granger causality tests find evidence of unidirectional causality from US stock returns to returns on the gold price set in the London morning fixing and the closing price. For the price set in the afternoon fixing, there is clear evidence of feedback between the markets for gold and US stocks.



AS,

And your point is what?

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Here's a peer reviewed article using a multiple linear regression model, which once again found a negative correlation between Gold prices and stock prices, but found a strong positive correlation between M1 and Gold Prices, which of course is what Uncle Milton said in the video I posted above:

http://thescipub.com/PDF/ajassp.2009.1509.1514.pdf



You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by TF49
Originally Posted by antelope_sniper
http://www.spdrgoldshares.com/media/GLD/file/Gold%26USStockIndicesDEC200120fina.pdf

Originally Posted by From the abstract
The short-run correlation between returns on gold and returns on US stock price
indices is small and negative and for some series and time periods insignificantly
different from zero.... Only
short-run relationships are evident. Granger causality tests find evidence of unidirectional causality from US stock returns to returns on the gold price set in the London morning fixing and the closing price. For the price set in the afternoon fixing, there is clear evidence of feedback between the markets for gold and US stocks.



AS,

And your point is what?

TF


The point is, exactly what I said that sparked you off.

The correlation between equities and gold is negative, don't buy gold in a bull market.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
IC B3

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by TF49
AS,


A MF quote:

Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer�and the right answer�is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Money Mischief (1992), Ch. 2 The Mystery of Money


So what happens when folks lose that belief? That thought is already with us and is a growing concern in the US.

MF charted the course and set the US on its current tack.

Milton Freidman took the easy way out and traded away long term stability for short term gains. May have been in the pocket of the bankers and politicians. He was pro debt and pro inflation but, in his favor, he did seem to know that limits existed. That seems forgotten now.

Debt does not go away. It is always paid. By someone in some way.

TF


"The pieces of green paper have value because everybody thinks they have value"

I'd make one small modification to the above.

The pieces of green paper have value because everybody's thinks they have value agreed to accept them as a medium of exchange.

We all know those little green slips of paper have not real value. We've all just agreed to use them instead of barter.

As for Milton Friedman believing in inflation, he was in favor of a Constitutional Amendment limiting the growth of the money supply, so to say he was in favor of inflation is just not true.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
Originally Posted by TF49
AS,


A MF quote:

Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer�and the right answer�is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Money Mischief (1992), Ch. 2 The Mystery of Money


So what happens when folks lose that belief? That thought is already with us and is a growing concern in the US.

MF charted the course and set the US on its current tack.

Milton Freidman took the easy way out and traded away long term stability for short term gains. May have been in the pocket of the bankers and politicians. He was pro debt and pro inflation but, in his favor, he did seem to know that limits existed. That seems forgotten now.

Debt does not go away. It is always paid. By someone in some way.

TF


"The pieces of green paper have value because everybody thinks they have value"

I'd make one small modification to the above.

The pieces of green paper have value because everybody's thinks they have value agreed to accept them as a medium of exchange.

We all know those little green slips of paper have not real value. We've all just agreed to use them instead of barter.

As for Milton Friedman believing in inflation, he was in favor of a Constitutional Amendment limiting the growth of the money supply, so to say he was in favor of inflation is just not true.



AS,

I wonder what he meant when he said this:

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. � A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
The Counter-Revolution in Monetary Theory (1970)


This is what we did and it got out of hand.

From another article on MF:

"Friedman was the main proponent of the monetarist school of economics. He maintained that there is a close and stable association between inflation and the money supply, mainly that inflation could be avoided with proper regulation of the monetary base's growth rate. He famously used the analogy of "dropping money out of a helicopter.",[40] in order to avoid dealing with money injection mechanisms and other factors that would overcomplicate his models.

His protege Ben Bernanke famously quoted MF in regard to the use of helicopters.

I would think that he would not have favored the current financial shenanigans and debt, he did in fact favor inflation as a spur to growth. Just got out of hand when politicians got drunk on monetary excess and the bankers got into it.

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by TF49
Originally Posted by antelope_sniper
Originally Posted by TF49
AS,


A MF quote:

Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer�and the right answer�is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Money Mischief (1992), Ch. 2 The Mystery of Money


So what happens when folks lose that belief? That thought is already with us and is a growing concern in the US.

MF charted the course and set the US on its current tack.

Milton Freidman took the easy way out and traded away long term stability for short term gains. May have been in the pocket of the bankers and politicians. He was pro debt and pro inflation but, in his favor, he did seem to know that limits existed. That seems forgotten now.

Debt does not go away. It is always paid. By someone in some way.

TF


"The pieces of green paper have value because everybody thinks they have value"

I'd make one small modification to the above.

The pieces of green paper have value because everybody's thinks they have value agreed to accept them as a medium of exchange.

We all know those little green slips of paper have not real value. We've all just agreed to use them instead of barter.

As for Milton Friedman believing in inflation, he was in favor of a Constitutional Amendment limiting the growth of the money supply, so to say he was in favor of inflation is just not true.



AS,

I wonder what he meant when he said this:

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. � A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
The Counter-Revolution in Monetary Theory (1970)


This is what we did and it got out of hand.

From another article on MF:

"Friedman was the main proponent of the monetarist school of economics. He maintained that there is a close and stable association between inflation and the money supply, mainly that inflation could be avoided with proper regulation of the monetary base's growth rate. He famously used the analogy of "dropping money out of a helicopter.",[40] in order to avoid dealing with money injection mechanisms and other factors that would overcomplicate his models.

His protege Ben Bernanke famously quoted MF in regard to the use of helicopters.

I would think that he would not have favored the current financial shenanigans and debt, he did in fact favor inflation as a spur to growth. Just got out of hand when politicians got drunk on monetary excess and the bankers got into it.

TF


You didn't watch the video....did you?

As for Nephew Ben, a Great Depression scholar, he saved us from an even worse financial crisis.

Last edited by antelope_sniper; 12/18/14.

You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
http://www.spdrgoldshares.com/media/GLD/file/Gold%26USStockIndicesDEC200120fina.pdf

Originally Posted by From the abstract
The short-run correlation between returns on gold and returns on US stock price
indices is small and negative and for some series and time periods insignificantly
different from zero.... Only
short-run relationships are evident. Granger causality tests find evidence of unidirectional causality from US stock returns to returns on the gold price set in the London morning fixing and the closing price. For the price set in the afternoon fixing, there is clear evidence of feedback between the markets for gold and US stocks.


AS,

Not sure what your point is. I think you are trying to show that when the stock markets go up the gold price goes down and vice versa. As I said, they can move in concert. Gold prices and the Dow both moved up nicely from 2009 through 2012. Four years. In the ten year period from 2003 to 2012 gold and the DOW reached year end levels over the previous year 8 years out of ten.

It is a gross and erroneous error to believe that gold and the DOW have a reverse relationship. Nice and simple but wrong.

It could be that both the DOW and gold move up in the next two years.

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Did you read the paper I posted?

The correlation is negative, it's just not the only variable.

Last edited by antelope_sniper; 12/18/14.

You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
Originally Posted by TF49
Originally Posted by antelope_sniper
Originally Posted by TF49
AS,


A MF quote:

Why should they also be accepted by private persons in private transactions in exchange for goods and services?
The short answer�and the right answer�is that private persons accept these pieces of paper because they are confident that others will. The pieces of green paper have value because everybody thinks they have value. Everybody thinks they have value because in everybody's experience they have had value...
Money Mischief (1992), Ch. 2 The Mystery of Money


So what happens when folks lose that belief? That thought is already with us and is a growing concern in the US.

MF charted the course and set the US on its current tack.

Milton Freidman took the easy way out and traded away long term stability for short term gains. May have been in the pocket of the bankers and politicians. He was pro debt and pro inflation but, in his favor, he did seem to know that limits existed. That seems forgotten now.

Debt does not go away. It is always paid. By someone in some way.

TF


"The pieces of green paper have value because everybody thinks they have value"

I'd make one small modification to the above.

The pieces of green paper have value because everybody's thinks they have value agreed to accept them as a medium of exchange.

We all know those little green slips of paper have not real value. We've all just agreed to use them instead of barter.

As for Milton Friedman believing in inflation, he was in favor of a Constitutional Amendment limiting the growth of the money supply, so to say he was in favor of inflation is just not true.



AS,

I wonder what he meant when he said this:

Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. � A steady rate of monetary growth at a moderate level can provide a framework under which a country can have little inflation and much growth. It will not produce perfect stability; it will not produce heaven on earth; but it can make an important contribution to a stable economic society.
The Counter-Revolution in Monetary Theory (1970)


This is what we did and it got out of hand.

From another article on MF:

"Friedman was the main proponent of the monetarist school of economics. He maintained that there is a close and stable association between inflation and the money supply, mainly that inflation could be avoided with proper regulation of the monetary base's growth rate. He famously used the analogy of "dropping money out of a helicopter.",[40] in order to avoid dealing with money injection mechanisms and other factors that would overcomplicate his models.

His protege Ben Bernanke famously quoted MF in regard to the use of helicopters.

I would think that he would not have favored the current financial shenanigans and debt, he did in fact favor inflation as a spur to growth. Just got out of hand when politicians got drunk on monetary excess and the bankers got into it.

TF


You didn't watch the video....did you?

As for Nephew Ben, a Great Depression scholar, he saved us from an even worse financial crisis.


AS,

Here you are making another broad and sweeping statement. "Ben saved us".... No, it was only a reprieve and he went right back to forcing the money supply. Ben has made the situation much worse.

You need to see how the money supply grew under dear Ben.

TF

btw... here is a link for YOU and a few more comments:

http://www.theblaze.com/stories/201...ey-printing-policies-in-the-near-future/

Here is somehting else:

To combat deflation, Bernanke provided a prescription for the Federal Reserve to prevent it. He identified seven specific measures that the Fed can use to prevent deflation.

1) Increase the money supply (M1 and M2).

"The US government has a technology, called a printing press, that allows it to produce as many dollars as it wishes at essentially no cost." "Under a paper-money system, a determined government can always generate higher spending and, hence, positive inflation."[1]

You need to understand that the activity of the "printing press" is not just some benign Fed program... it has sowed the seeds of the dollars destruction and the impoverishment of at least one generation of citizens. It is debt that we cannot repay without some sort of cost or repudiation.

TF


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by TF49


AS,

Here you are making another broad and sweeping statement. "Ben saved us".... No, it was only a reprieve and he went right back to forcing the money supply. Ben has made the situation much worse.

You need to see how the money supply grew under dear Ben.

TF

btw... here is a link for YOU and a few more comments:

http://www.theblaze.com/stories/201...ey-printing-policies-in-the-near-future/

Here is somehting else:

To combat deflation, Bernanke provided a prescription for the Federal Reserve to prevent it. He identified seven specific measures that the Fed can use to prevent deflation.

1) Increase the money supply (M1 and M2).

"The US government has a technology, called a printing press, that allows it to produce as many dollars as it wishes at essentially no cost." "Under a paper-money system, a determined government can always generate higher spending and, hence, positive inflation."[1]

You need to understand that the activity of the "printing press" is not just some benign Fed program... it has sowed the seeds of the dollars destruction and the impoverishment of at least one generation of citizens. It is debt that we cannot repay without some sort of cost or repudiation.

TF


First, they didn't use the printing press, they used open market operations to purchase bonds. These purchases have stopped, and these bonds can be sold again. They will unwind it, or to extend your analogy, those little green pieces of paper can also be burned. This will become necessary as the velocity of money begins to normalize.

What Bernanke did was avoid prevent US capital markets markets from freezing by providing liquidity in a way that did not occur in 1929, because we all know how well THAT worked out for us.

As for M1 under Bernanke, yes I'm well aware of what happened to M1 under him, I'm also aware of what happened to the velocity of M1 under him:

http://research.stlouisfed.org/fred2/graph/?g=UXG



You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Joined: Jan 2011
Posts: 2,262
T
Campfire Regular
Online Content
Campfire Regular
T
Joined: Jan 2011
Posts: 2,262
Originally Posted by antelope_sniper
Here's a peer reviewed article using a multiple linear regression model, which once again found a negative correlation between Gold prices and stock prices, but found a strong positive correlation between M1 and Gold Prices, which of course is what Uncle Milton said in the video I posted above:

http://thescipub.com/PDF/ajassp.2009.1509.1514.pdf




AS,

You are avoiding the issue.

Here is what you posted: "... Gold goes down during a bull market in stocks. ...."

To support this thesis you provide links to esoteric articles and proclaim your thesis to be defended. This is nothing more than obfuscation on your part.

Your statement is wrong period. Stick with me and I can show you in a couple of paragraphs. If one takes year end values for gold and the DOW from 2002 until 2012...it becomes clear.During this time period the Dow went up 157% and gold went up 398%. If the range is expanded to 2014, the DOW shows an increase of 288% while the Dow went up 212%.

Has the DOW been in a bull market? Yes....has gold been going up during that bull market? Yes...

No esoteric bankster baloney required to see it.

Does that mean that gold is a better buy than the DOW now? Not necessarily. Does that mean than one should forsake gold for the DOW? Not necessarily. The point is, gold can go up in a DOW bull market.

TF


btw, I am aware that dividends were not included in the above figures. THe conclusion is still the same.


The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”

Joined: Feb 2001
Posts: 1,323
Campfire Regular
Offline
Campfire Regular
Joined: Feb 2001
Posts: 1,323
To me the FRNs serve a dual purpose.

1. They are very handy when it comes to settling private and public debts and provide a neat small package to do so versus carrying in a bag of potatoes into the barber shop to settle up on a haircut, or pay for my reloading components at the corner SG store.

2. They give one a universal basis to use as comparison of value. If establishment A charges $29.00 for a brick of primers and establishment B charges $37.00 for the same brick, one can then compare and decide on their purchase. That is depending on whether each establishment still accepts FRN's

On the other hand, gold and silver will get me from the possibility of our fiat currency being recalled and replaced with some other form of fiat currency. In other words it will get me from here to there, as and far as I know gold and silver have never been worth nothing. To me that is a good reason to have some on hand, same as having cash on hand.


Take your kids and your grand kids huntin' and shootin'.
Joined: Nov 2011
Posts: 30,595
A
Campfire 'Bwana
Online Content
Campfire 'Bwana
A
Joined: Nov 2011
Posts: 30,595
Originally Posted by Chainsaw
To me the FRNs serve a dual purpose.

1. They are very handy when it comes to settling private and public debts and provide a neat small package to do so versus carrying in a bag of potatoes into the barber shop to settle up on a haircut, or pay for my reloading components at the corner SG store.

2. They give one a universal basis to use as comparison of value. If establishment A charges $29.00 for a brick of primers and establishment B charges $37.00 for the same brick, one can then compare and decide on their purchase. That is depending on whether each establishment still accepts FRN's

On the other hand, gold and silver will get me from the possibility of our fiat currency being recalled and replaced with some other form of fiat currency. In other words it will get me from here to there, as and far as I know gold and silver have never been worth nothing. To me that is a good reason to have some on hand, same as having cash on hand.


Gold and Silver have been worth nothing. There we considered of no value to the American Indian. Specifically the Sioux called it "The rock that makes white men crazy".

Gold and Silver are also subject to inflation and deflation, and can also be debased or recalled. It happened in this country during the 1930's.


You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.

You cannot over estimate the unimportance of nearly everything. John Maxwell
Page 2 of 3 1 2 3

Moderated by  RickBin 

Link Copied to Clipboard
YB23

Who's Online Now
689 members (12308300, 10gaugemag, 007FJ, 160user, 10Glocks, 06hunter59, 69 invisible), 2,793 guests, and 1,293 robots.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums81
Topics1,187,632
Posts18,398,846
Members73,817
Most Online11,491
Jul 7th, 2023


 







Fish & Game Departments | Solunar Tables | Mission Statement | Privacy Policy | Contact Us | DMCA
Hunting | Fishing | Camping | Backpacking | Reloading | Campfire Forums | Gear Shop
Copyright © 2000-2024 24hourcampfire.com, Inc. All Rights Reserved.
Powered by UBB.threads™ PHP Forum Software 7.7.5
(Release build 20201027)
Responsive Width:

PHP: 7.3.33 Page Time: 0.139s Queries: 15 (0.004s) Memory: 0.9271 MB (Peak: 1.1368 MB) Data Comp: Zlib Server Time: 2024-03-28 16:39:01 UTC
Valid HTML 5 and Valid CSS