#6543895 - 05/27/12 05:39 PM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: Barak]
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Campfire 'Bwana
Registered: 08/13/05
Posts: 10623
Loc: the 'burbs
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folks, all we have available to us is a consensus answer, imho. once technology gets to the point of mining asteroids, the moon, and other extraterrestrial bodies, we're be to the point of one of two things happening. we've be flooded, and therefore overrun with gold, and/or another more "rare" mineral will be discovered, and the fight will be on.  you goldbugs need to hold on to the gold, for better or worse. the rest of us will work to distribute the annual productivity of the Earth amongst the general citizenry, so that only a minimum starve on an annual basis.
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#6543961 - 05/27/12 06:09 PM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: Barak]
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Campfire Oracle
Registered: 06/12/02
Posts: 57310
Loc: Northern Florida
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I wouldn't call that a gold standard; I'd call it currency freedom. A gold standard is when a government coercively decrees how gold must and must not be used. Yes, that's the sense in which I meant it, i.e., not a government imposed standard, but one chosen by the market by merely lifting legal barriers to using gold and silver as money. Essentially, a return to the system of "free coinage." An improvement to that system, however, would be the elimination of the practice of assigning a value to the coins, but rather only a weight and purity.
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"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning." - Henry Ford
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#6543985 - 05/27/12 06:19 PM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: The_Real_Hawkeye]
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Campfire 'Bwana
Registered: 08/13/05
Posts: 10623
Loc: the 'burbs
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omg, in due respect, do any of you people really understand what is being proposed?
we've already been there, and done that. you want the masses to go back to what has already failed? i understand your serious position. what i don't and can't understand is how gold, silver, etc.etc. would work in a day to day basis, as we mover futher into the post-modern era.
something is happening for sure. but i doubt gold is the solution.
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#6544048 - 05/27/12 06:42 PM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: Gus]
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Campfire Tracker
Registered: 07/15/07
Posts: 6416
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Here Gus, read this, it might make things more clear. BTW, it doesn't matter if it's post modern or pre modern, money is money and is necessary to facilitate trade. Until we get to mining asteroids for gold making it as common as dirt, it will be held in esteem as a preserver of wealth, simply because it is rare and difficult to come by.
www.zerohedge.com/news/it's-capital-we-guarantee-it
Well, the dadgum link won't work, so just type it in.
Edited by mike762 (05/27/12 06:46 PM)
_________________________
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
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#6544734 - 05/28/12 04:23 AM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: mike762]
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Campfire Oracle
Registered: 06/12/02
Posts: 57310
Loc: Northern Florida
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Here Gus, read this, it might make things more clear. BTW, it doesn't matter if it's post modern or pre modern, money is money and is necessary to facilitate trade. Until we get to mining asteroids for gold making it as common as dirt, it will be held in esteem as a preserver of wealth, simply because it is rare and difficult to come by.
www.zerohedge.com/news/it's-capital-we-guarantee-it
Well, the dadgum link won't work, so just type it in. I know you don't like a negative comment to be directed at Gus, so long as he refrains from bad language, but what you might not realize is that I've been through this with him several times. In the end, after you've presented him with the facts and arguments, he will pretend that he cannot grasp the concepts and that he was never provided with the facts that refute his arguments, thus nullifying your efforts. But I guess this is one of those things you will have to learn on your own through bitter experience. He's not the sincere seeker of information and understanding that he pretends to be, is my point. He has his own very bizarre agenda. But carry on, because it's good to get you commenting on this stuff for the rest of the folks to potentially learn from.
_________________________
"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning." - Henry Ford
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#6544779 - 05/28/12 05:07 AM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: The_Real_Hawkeye]
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Campfire Tracker
Registered: 07/15/07
Posts: 6416
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Roger that.
_________________________
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
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#6545240 - 05/28/12 08:14 AM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: mike762]
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Campfire Guide
Registered: 02/06/04
Posts: 4751
Loc: North of Des Moines
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OK. Now you have me worried. I don't have gold or silver and if the collapse occurs in short order:
As Mike said:
"Then there is the next debt ceiling kabuki show, due in late September or early October just prior to the election, which could result in further downgrades of our debte"
At least I have my house paid for and some seniority at the local Walmart so I should have a job. How do you all think this will affect those of us getting a retirement check. Our retirement program is tied in with the stock market and government securities. Both of which appear to be on shaky ground.
I do have trading fodder to include firearms and ammuntion. Hopefully we will not need them but having them may add comfort to the owners, or future owners.
I agree the way America has been doing business cannot go on. I'm sure some of Europe has similar issues. Maybe it's time to take out that bank loan and buy primers and powder. It's not gold but as close as I can come.
kwg
_________________________
My college diploma says "DD Form 214" at the bottom.
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#6545245 - 05/28/12 08:15 AM
Re: Excerpt from _The Real Crash_ by Peter Schiff
[Re: kwg020]
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Campfire Oracle
Registered: 06/12/02
Posts: 57310
Loc: Northern Florida
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OK. Now you have me worried. I don't have gold or silver and if the collapse occurs in short order:
As Mike said:
"Then there is the next debt ceiling kabuki show, due in late September or early October just prior to the election, which could result in further downgrades of our debte"
At least I have my house paid for and some seniority at the local Walmart so I should have a job. How do you all think this will affect those of us getting a retirement check. Our retirement program is tied in with the stock market and government securities. Both of which appear to be on shaky ground.
I do have trading fodder to include firearms and ammuntion. Hopefully we will not need them but having them may add comfort to the owners, or future owners.
I agree the way America has been doing business cannot go on. I'm sure some of Europe has similar issues. Maybe it's time to take out that bank loan and buy primers and powder. It's not gold but as close as I can come.
kwg Buy gold and silver in the dips. Currently, they're both on sale.
_________________________
"It is perhaps well enough that the people of the Nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning." - Henry Ford
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