Thursday, January 08, 2009


Trust us on it, says the Fed. And with a record like this, why not?

No one has any money right now because there's too little around. Eventually no one will have any because there will be too much around.


Blogger GoldenScrooge said...

Unless you own gold, silver, guns, and bullets. Then you will be fine.

1/08/2009 11:15 AM  
Blogger Miss Bliss said...

hey...keep in mind that you can't eat or drink gold, silver, guns or bullets...though you can steal the food and water with guns and there's a thought eh? Love this Brave New World.

1/08/2009 1:54 PM  
Anonymous Anonymous said...

See National Geographic article, "The Real Price of Gold" and understand why the human and environmental consequences of owning gold are never mentioned on the economic blogs.

1/08/2009 2:16 PM  
Anonymous Anonymous said...

pace Yogi Berra: "Nobody goes there anymore, it's too crowded."

1/08/2009 5:28 PM  
Blogger GoldenScrooge said... people can be soooo dumb. Ask any Zimbabwean today if they would rather have paper currency or gold. Even if the entire global economy any functioning economy gold will have value. The guns and bullets are for the transition period for when this economy collapses and the new one begins. LMAO. As far as the human and environmental causes of owning gold...we live in a country that drops bombs on, denies medical supplies, and sanitary supplies on a country for 16 years than violently invades them litering their country with uranium waste products and occupies them for 4 years. We insist that we are bringing them "freedom". We have gone to war and killed more people on this planet than any other country this century. The "human and environmental causes"...LMAO. I spit on your "human and environmental causes". When the political leaders of this country stop playing Napoleon because they have exhausted and bankrupted this country...When we are all functioning in a real economy making products for the Indians and Chinese (hahahaha) because we can't afford to bomb, kill, and destroy anymore...maybe then we can have a pointless debate about "the human and environmental causes of owning gold". hahahahaha. There is so much gold above ground anyways it can still be used as currency. It wouldn't matter if you outlawed gold mining from this point forward. There is enough above ground already. hahaha. As gold is destroyed you would have very slow deflation...rather than the inflation of the printing press and being slaves of central banks and wall street investment banks. This would be vastly preferable to our current state of affairs...but like I said this is a pointless discussion. You will continue(Like 90 percent of America) to cling to your paper dollars and your Hero Obama. I am going to cling to gold, silver, guns, and bullets. We'll see who comes out ahead. LMAO.

1/08/2009 6:47 PM  
Anonymous Anonymous said...

I'd almost pay attention to your theology, GoldWhatever, if only you managed to learn the miracle of paragraph structure. Of course, I understand that any really proper screed should be as structurally incoherent as it is plain old incoherent.
-- sglover

1/08/2009 7:15 PM  
Blogger GoldenScrooge said...

hahahahaha...I am posting on a comment section in blog. hahahaha
Obama my hero...hahahaha

1/09/2009 1:17 AM  
Anonymous Anonymous said...


I would consider the same environmental and human consequences apply to your I-Pod and your Nike shoes or the pvc and copper pipes in your house or the gas in your car. Try getting anything out of the ground in an environmental friendly manner. I hand you a shovel ... start digging!

Talk to the Catholic Church about human reproduction ... In case nobody has noticed the World is over populated and when population exceeds natural resources you get this! Perhaps everyone here in America could ease their guilt of the CONSUMER NATION label if we had an old fashioned Bird Flu pandemic! Preferably it would start in some over-crowded country with sweat shops full of peasants like China, so Americans would not have to suffer any.

As to gold ... gold is real money. All that has been produced over the past ten centuries is still here on this planet. It has not been thrown away and if you check your neighborhood humongous DUMP(kak: land fill)full of plastic bottles and old toasters and TVs and Huggies you'd be hard pressed to find Credit Suisse one ounce gold bars! But if you do find one then call me up and I'll fly over and gladly remove it from your guilt-ridden hands! HA!!

For Americans to complain about gold production is like Hitler complaining about his gas bill!

America ... wake up ... its your EMPIRE out pillaging the World now, not the Brits, not the Spaniards, not the Romans! Its the AMERICAN EMPIRE now ... What we are now seeing both financially and morally is the unwinding of that EMPIRE! Now that is okay, since that is what all empires eventually do. Let it go!

1/09/2009 9:38 AM  
Anonymous Anonymous said...


Oh yeah ... You cannot eat or drink I-Pods or SUVs either! You can eat a $5 FRN paper note though. With a little ketchup it almost tastes like "chicken"! The $100 note, though, hardly needs any ketsup at all!!! UMMMMM ... Yummy!!!

1/09/2009 9:45 AM  
Blogger GoldenScrooge said...

Peter attempting to educate the ignorant

1/09/2009 12:41 PM  
Anonymous Anonymous said...

Where do you get off, you sick little twist? Sexual? I'm not sexual with them. I'm not abusive with them, how dare you write that in your paper without knowing nothing about me, biting's not sex, it's biting! I'm not sick like that. Maybe I should come bite you, would you like that, scotty? I bet you would like that, I am right? You write about me like I'm sick. You're the sick one, you know that? Is that why you like me, scotty? Is that why? I could come bite you; you tell me how sexual it is. You humiliate me like that? You mortify me like that in front of my father? My father's father? Listen to me, smack daddy, crack daddy, little baby whack daddy, here's what's happening. You ain't never going to find them anymore. You aint never gonna see them no more. I'm sending you something right now, You take a good look at this guy, because you ain't ver going to see him no more.

1/09/2009 1:29 PM  
Anonymous Anonymous said...

goldhorder, the question is will it be a functioning economy. If our economy collapses completely, gold won't have much value, it will simply be a heavy pliable metal that isn't good for much. I doubt it will get that ugly, but a complete collapse would render gold pretty useless. However, if it doesn't get that ugly, yes, gold will be a nice thing to have.

1/09/2009 1:46 PM  
Anonymous Anonymous said...

Yes, a bit of Yogi B there.

1/09/2009 2:46 PM  
Anonymous Anonymous said...

This gold nonsense has gotten out of hand. Not since 1971 have Americans associated gold with any form of movable currency. For one to think he will be better off sitting on 100 ounces of gold if the economy truly collapses is the definition of absurd. While gold serves as a worthwhile investment during certain periods of economic contraction, to believe it will become the defacto currency in the aftermath of some form of economic meltdown is extremely farfetched, not to mention completely devoid of historical precedent.

Don't confuse investment with currency.

If one really expects the future to look like Thunderdome, one would be wiser to invest in a small plot of arable land near a water source, a few good books on sustainable gardening, a collection of seeds that can provide a year-round crop rotation, seasoned compost, and a solid set of gardening hand tools, which you can sharpen and maintain yourself.

Arming yourself to the hilt with no means to feed yourself makes you part of the problem, not the solution.

1/09/2009 3:47 PM  
Blogger GoldenScrooge said...

This comment has been removed by the author.

1/09/2009 5:18 PM  
Blogger GoldenScrooge said...

Arming yourself gives you the ability to feed yourself. Bullets (or shot) kill animals. hahaha. but really...Yes 1971...US has a 37 year history as a fiat currency. Gold has been a store of value for human economic activity for thousands of years. There will be economic activity on this planet even if the US imploded. In those countries gold will have value. There is nothing special about the US federal government. The world would be a much better place without it.

1/09/2009 5:20 PM  
Blogger GoldenScrooge said...

I realize that your public school education has taught you to worship your masters in DC like Gods. But they are not Gods. They are evil wicked little creatures who have sold America down the river for their own unsatiable greed.

1/09/2009 5:25 PM  
Anonymous Anonymous said...

I realize that your public school education has taught you to worship....

Thanks for the clincher. You're not arguing with anyone here -- you're arguing with voices in your own head. All the gold in Switzerland won't be much good for that, either.
-- sglover

1/09/2009 5:40 PM  
Anonymous Anonymous said...

What the timeline for the next inflation surge?

1/10/2009 8:28 AM  
Blogger Chris said...

This comment has been removed by the author.

1/10/2009 10:23 PM  
Blogger Chris said...

Wow. This discussion, while filled with fantastic scenarios and excitement not seen in at least a few hundred years by the "civilized" among us, strikes me as without merit or direction. We can argue doomsday until we're blue in the face, but we still aren't there and we have time to salvage what's been done to this point. Discount me all you want with insults about hope or audacity, but if there ever was a time to fix our mess it would be in the present.
Preparing for war by stocking up on gold, guns and bullets never led to anything in human history but war, cold or hot. Preparing for peace before all arms had been laid down never led to anything but unpreparedness for any civilization. Name calling, insults and blind rejection of any theory never led to anything besides blind hatred, racism, divisiveness, deceit and finally war or massacre.
The answer is not just in left-leaning policies or right-leaning policies, but in HOW we go about the discussion; how we interact as people, and how we treat one another.
So, the time is now to work together. To build trust. To solve the coming crisis, not whine about it.

1/10/2009 10:24 PM  
Blogger GoldenScrooge said...

"Hyperinflation - a massive and rapid increase in the amount of money, which is not supported by growth in the output of goods and services"
Good luck with that. I'm buying Gold. LMAO

1/11/2009 10:12 PM  
Blogger GoldenScrooge said...

Eric deCarbonnel's description of hyperinflation's onset in Germany 's Weimar Republic

"As an example of deflation leading to hyperinflation, consider the case of the Weimar Republic . In 1920, Germany experienced a deflationary collapse, with the average citizen finding it harder and harder to get enough money for necessities. Banks, short of money, could not honor checks, and businesses were strapped for cash to buy materials and meet payroll. Fearing a collapse that would throw millions of workers out on the street, the German government desperately printed money in an attempt to re-inflate the economy. During this period, despite the government's money printing, the mark actually gained in value against foreign currencies, so that prices of imported goods fell by some 50%.

"Eventually, as a result of the money supply's rapid expansion, the nation's massive foreign debt, and the shrinking economy, German citizens lost all confidence in their currency, and the Weimar Republic experienced one of the worst cases of hyperinflation in modern economic history. Billions of hoarded marks came out of hiding and entered the marketplace.

Thank God we have Obama our Saviour to keep us clear of any of that. LOL

1/11/2009 11:40 PM  
Anonymous Anonymous said...

We have developed a few commentators that would be better served by their own blogs..... after the 6th or 10th message, it becomes clear that goldenscrooge and mrs panstreppon aren't really interested in the posted piece.... They want a platform for their own "wisdom."

How 'bout you both go start your own blogs, where you can rant on topics of your choosing, and see how that works out for you? It would work out better for me, that's for sure.

1/12/2009 12:00 AM  
Anonymous Anonymous said...

There is plenty of money around but nobody is lending it. In the meantime trillions of dollars of 'near money', all those l great modern financial instruments, securitizations and the like, have gone to money heaven. All those assets which were inflating, like homes, cannot be borrowed against, which feeds back into the dearth of lending thing.

As for gold it very well could rise against any or all currencies sometime. Huge perhaps. It's impossible as a medium of exchange however, which is modern monies number one function.

Money isn't sacred. It serves a function. Yes its functionality is hurt by not having its relative value based upon some sort of rules or logical measurement. And of course having its creation in the hands of a tiny self serving elite. Still there will never be a perfect money. All and every money ends up being manipulated and concentrated with the political/financial elites.

In the hay days of American hard money, the 1890's and early 1900's JP Morgan essentially controlled the money and markets in the US. During the Panic of 07 writing a nice note to TR suggesting their "peope get together and work things out".

There can never be a perfect system. Certainly no mechanistic one that will unerringly be the most fair and just. For ever system is subject to manipulation. As night follows day the beneficiaries of any system demand that everyone must do such and such in order to serve the system. This is utilitarianism and is ultimately evil. Men must not be made to serve systems but rather systems must serve people. The maximum number of people in the fairest way possible.

1/12/2009 7:45 AM  
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