• "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"

BIS: Basel III Return Of Gold As Money

smilershouse

Gold Member
Gold Chaser
Joined
Apr 1, 2010
Messages
2,423
Likes
1,218
Location
Australia
#2
GiM2 naysayers aside, I am with this vid GH, and share the sentiment of Ag blowing away all expectations when it happens. I believe I speak for the majority when I say,that its the waiting that is pissing us all off. PM's should have exploded during 9/11, but bankers and govt to the rescue. There should have been a banking crisis during Greece, Spain, Italy, Portugal and Irish debacle when Ag lifted to $50 ounce , yet a bigger and better Rabbit called "A debt based cycle" was invented and revered as the final solution.

What next?

After 2 X failed bail outs the next 'out' will be more of an 'in' and, will light the working person/tax payers powder keg. Cash will be valuable for a while, until the pair make rules and change the face of the currency redeeming the old face as worthless. PM's and Crypto will be the only trusting currencies left IMO, if not, be sure you have a skill which is in big demand, when fiscal incompetence manifests, and corrects itself. Not to mention a melt down in highly leverages options and that of the derivative markets But whatever you do, stay as independent from the system, as possible. This concept was the backbone of Jesus's teachings and way of life life.

SH .
 
Last edited:

Ebie

Midas Member
Midas Member
Joined
Apr 9, 2010
Messages
7,378
Likes
1,733
#4
Would people on the street give you a $5 frn for a 1 oz ASE?
 

smilershouse

Gold Member
Gold Chaser
Joined
Apr 1, 2010
Messages
2,423
Likes
1,218
Location
Australia
#5
It only took 30 pieces of silver to take out the son of God.

Indeed. But betrayal was not a part of Jesus' teaching. Although rancid/rabid greed, hypocrisy, and idolatry were discussed among the populace and disciplines as no no's. that same personality type who betrayed Him was illuminated, and at the same time that irony was not lost but remembered.

SH
 

skychief

enthusiastic stacker
Silver Miner
Joined
Sep 25, 2014
Messages
848
Likes
1,084
Location
California Coast
#6
Gresham's Law states that any circulating currency consisting of both "good" and "bad" money (both forms required to be accepted at equal value under legal tender law) quickly becomes dominated by the "bad" money. This is because people spending money will hand over the "bad" coins rather than the "good" ones, keeping the "good" ones for themselves.

As long as there is fiat money (legal tender), neither Gold nor silver will be considered as money.

The exception is when SHTF or complete collapse of the (fiat) currency.
 

madhu

Silver Member
Silver Miner
Joined
Apr 2, 2010
Messages
1,065
Likes
788
#7
Gresham's Law states that any circulating currency consisting of both "good" and "bad" money (both forms required to be accepted at equal value under legal tender law) quickly becomes dominated by the "bad" money. This is because people spending money will hand over the "bad" coins rather than the "good" ones, keeping the "good" ones for themselves.

As long as there is fiat money (legal tender), neither Gold nor silver will be considered as money.

The exception is when SHTF or complete collapse of the (fiat) currency.
Yes agree. But even the hoarders of the good money would not want the SHTF as it might be impossible to control the situation from irrational zombies who have nothing to loose but need a quick fix for their withdrawal symptoms.
 

Cigarlover

Gold Member
Gold Chaser
Sr Site Supporter
Joined
Dec 18, 2011
Messages
5,697
Likes
10,368
#8
With a recession looming I think all assets classes go down. Gold and silver among them. Thats if they allow the right thing to happen and let the recession fix things.
Under Bush the fed dropped money from helicopters. Obama gave the fed a loan and both ramped up Gov spending to levels never before seen in history. Consumer debt also ramped up to highest levels ever, including, student loans, personal debt, car debt and home mortgages. Corporations have done their part as well by borrowing as much as possible and doing stock buybacks with the proceeds.
Trump appears to be following the same game plan. So, it does appear that rather than a recession they are ramping up for hyperinflation. After that we get the depression. I'd gladly take a long recession (3-5 years) over the collapse of everything. With the fed rate at 2% it's not like the fed has a lot of bullets left and no one has any borrowing power left. Seems like the only play left now is printing and getting the helicopters fired up. Back to step 1 where all taxpayers get a check.
In reality set one should have been the last step. Everything they did between printing money and handing out checks and today was just to try to stave off the next recession. Now its gonna be worse because of all f it. Just one big experiment and we were the guinea pigs.
 

Merlin

Gold Member
Gold Chaser
Sr Site Supporter
Joined
Mar 30, 2010
Messages
2,635
Likes
3,468
#9
Would people on the street give you a $5 frn for a 1 oz ASE?
Probably. Have you looked at one recently. Exquisitely beautiful.
 

smilershouse

Gold Member
Gold Chaser
Joined
Apr 1, 2010
Messages
2,423
Likes
1,218
Location
Australia
#10
Yes agree. But even the hoarders of the good money would not want the SHTF as it might be impossible to control the situation from irrational zombies who have nothing to loose but need a quick fix for their withdrawal symptoms.
Hence the ramping up of media hedged articles denouncing the rights of gun ownership. Pissed of law-abiding taxpaying populaces with guns means business. Hence take away the right to bear arms and the right to defend oneself against Zombies, and the plan comes into view. Whilst there is a social slaughter/battle between the employed have, and the unemployed have not, The elite will feel safer I am sure, and in due course will no doubt be laughing and enjoying the spectacle? Especially post Tas and NZ strict by laws, where it is rumored such will be heading when TSHTF


SH
 
Last edited: