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where are the gold threads?
05-15-2010, 09:08 PM
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#1
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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where are the gold threads?
so i breezed through the thread titles from 2010 - and didnt see anything about gold (or silver).
with the outrageous monetary inflation by the private company known as "the fed".....it is prudent to have some REAL money in your portfolio. real money, as defined by the constitution is gold and silver coins. the paper money printers have gone insane since their house of cards blew up in 2007/2008....see the trillion to europe for their latest escapade --
we are looking at a potential inflationary nightmare resembling..or worse than the late 70's. bonds will be CRUSHED. tips are a guaranteed loser...as they are tied to the bald-faced lie CPI.
imo there are only two places to hide from the insanity - precious metals and a distant second would be oil.
as soon as velocity picks up, the inflation monster will appear. you cannot game the laws of economics.
insane money printing = rising prices
if you are overweight bonds, now is a GREAT time to sell. you can buy them back after they take their lumps.
i'm waiting on double digit 30 yr treasuries.....to ride off into the sunset.
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05-15-2010, 09:16 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,000
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Some folks sign up on the forum and introduce themselves here following the suggestions found here.
Others do the online version of walking into a crowded room and start shouting...
__________________
Numbers is hard
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05-15-2010, 09:20 PM
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#3
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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Quote:
Originally Posted by REWahoo
Others do the online version of walking into a crowded room and start shouting...
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I had the same vision in my mind as I was reading the OP before I gave up at about the second sentence. At least he didn't write it in all CAPS.
I keep asking the same question - if gold is such a great investment, why does it require so many sales pitches?
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
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05-15-2010, 09:25 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,293
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where are the gold threads?
__________________
There's no need to complicate, our time is short..
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05-15-2010, 09:29 PM
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#5
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Administrator
Join Date: Apr 2006
Posts: 22,923
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I don't see in the Constitution where "real money" is defined as gold and silver coins, or, in fact, defined at all. But then I'm not very educated.
__________________
Living an analog life in the Digital Age.
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05-15-2010, 09:31 PM
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#6
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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wahoo - i'm shouting fire because there is a fire. i am worried about the bond holdings of many of the members. they are sitting on a keg of gasoline...while the fire rages in the room next door.
and thanks for the warm welcome?!
leon - the gold sales pitches pale in comparison to the onslaught pushing paper assets.
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05-15-2010, 09:35 PM
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#7
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Quote:
Originally Posted by Gumby
I don't see in the Constitution where "real money" is defined as gold and silver coins, or, in fact, defined at all. But then I'm not very educated.
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it's there. the founding fathers knew the dangers of paper (easily debased) money.
until recently the money printers have used the boiled frog technique -- slowly stealing the purchasing power.
the heat has been turned up...and so will prices (as soon as velocity returns).
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05-15-2010, 09:38 PM
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#8
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Administrator
Join Date: Apr 2006
Posts: 22,923
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Quote:
Originally Posted by endthefed
it's there.
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Where? i.e -- article and clause
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Living an analog life in the Digital Age.
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05-15-2010, 09:39 PM
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#9
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Article 1, Section 10, Clause 1
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
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05-15-2010, 09:39 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
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Quote:
Originally Posted by endthefed
wahoo - i'm shouting fire because there is a fire. i am worried about the bond holdings of many of the members. they are sitting on a keg of gasoline...while the fire rages in the room next door.
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You are so kind to be concerned about our well being, since you know very little about any of us.
Ha
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"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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05-15-2010, 09:41 PM
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#11
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Thinks s/he gets paid by the post
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
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Quote:
Originally Posted by endthefed
leon - the gold sales pitches pale in comparison to the onslaught pushing paper assets.
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So, if I were to ask, would you be in the way of knowing just where and how a wise investor could take advantage of the opportunities to own some of this real money?
__________________
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
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05-15-2010, 09:45 PM
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#12
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Quote:
Originally Posted by haha
You are so kind to be concerned about our well being, since you know very little about any of us.
Ha
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i've been lurking. i liked what i saw, so i joined. seemed to be a good group -
the reception isn't what i expected.
i see high inflation coming - what's wrong with raising the warning flag?
economics is my thing -- i am looking foward to exchanging ideas/info with all of you.
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05-15-2010, 09:49 PM
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#13
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Quote:
Originally Posted by Leonidas
So, if I were to ask, would you be in the way of knowing just where and how a wise investor could take advantage of the opportunities to own some of this real money?
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#1 physical possession. coin shops or online dealers -
#2 closed end funds - such as phys or cef
avoid etf's - gld, slv....they dont have the goods. just more paper -
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05-15-2010, 09:49 PM
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#14
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Administrator
Join Date: Apr 2006
Posts: 22,923
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Quote:
Originally Posted by endthefed
Article 1, Section 10, Clause 1
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
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So the states can't issue their own banknotes. It doesn't say jack about the power of the federal government to do so. In fact, the Supreme Court has specifically held that paper money is not unconstitutional. See Knox v. Lee, 79 U.S 547 (1870) and its progeny.
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Living an analog life in the Digital Age.
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05-15-2010, 09:49 PM
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#15
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 34,021
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Quote:
Originally Posted by endthefed
i see high inflation coming - what's wrong with raising the warning flag?
economics is my thing -- i am looking foward to exchanging ideas/info with all of you.
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So have you looked at this thread on what to do about inflation ?
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Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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05-15-2010, 09:56 PM
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#16
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Moderator Emeritus
Join Date: May 2007
Posts: 12,890
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Thanks for your concerns. Personally, I am more concerned about deflationary forces right now. Governments are set to raise taxes and cut spending around the world (in response to rising deficits). I don't see how it's going to help spur inflation anytime soon.
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05-15-2010, 09:58 PM
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#17
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Moderator Emeritus
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
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Popcorn, anyone?
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Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.
Happily retired since 2009, at age 61. Best years of my life by far!
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05-15-2010, 10:01 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2006
Location: Collin County, TX
Posts: 9,293
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Yes...extra butter please...
__________________
There's no need to complicate, our time is short..
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05-15-2010, 10:01 PM
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#19
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Quote:
Originally Posted by Gumby
So the states can't issue their own banknotes. It doesn't say jack about the power of the federal government to do so. In fact, the Supreme Court has specifically held that paper money is not unconstitutional. See Knox v. Lee, 79 U.S 547 (1870) and its progeny.
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is that the same supreme court that just declared that corporations are protected under the bill of rights? which allows them to contribute UNLIMITED amount of money to political campaigns...
i rest my case.
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05-15-2010, 10:05 PM
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#20
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Recycles dryer sheets
Join Date: May 2010
Location: houston
Posts: 96
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Quote:
Originally Posted by FIREdreamer
Thanks for your concerns. Personally, I am more concerned about deflationary forces right now. Governments are set to raise taxes and cut spending around the world (in response to rising deficits). I don't see how it's going to help spur inflation anytime soon.
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on my home board we had this debate raging for a looong time. the deflationists have buckled. if the greatest crash since the great depression couldnt overcome the money printers (and cause deflation)....what can?
with that being said, it's never smart to go all in for either -
but almost everyone has dollars as their savings -- only betting on deflation. this is a highly aggressive bet on deflation - when history has shown that rising prices dominate.
a precious metals savings account balances out your cash savings account - you are betting on both sides then.
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