The only problem with the theory is that these people are communists and it will never get better only worse.
Why are gold-bugs verbose?
"Restructuring" is such a nice word. It's sort of a post hoc legalization of theft, combined with the notion that those robbed never lost anything.
Ping for later
Well Gold WILL go way past the damn moon when Israel finally nukes the crap out of Iran.
Saw your comment on the locked thread...I agree. The folks selling it either have more than enough, or are making money selling it. The only thing that keeps me out of the current market is the 20% fees - about 10% premium to buy, and then another 10% to sell. I used to own gold & silver (and did well, thank you), now I think food and ammo are better investments...
I think gold and silver bottomed today, but I’ll wait until Monday to buy in anyway. Lots of forced liquidations in other stuff made gold the sale of last resort, we’re about done time wise with the almost-mandatory end of the month pre-settlement takedown, and Cramer’s fleeced his viewers again for about fifty bucks.
Re silver, $17.50 is not the greatest round number there is, but it’s been of interest chartwise before, and it bounced off it hard when it hit it for the second time in two days this morning,
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How do you counter the argument that gold based currencies limit expansion? I provide widgets that add productivity and efficiency into a process, increasing wealth growth - how does a metal reserve allow this? I mean all that “wealth” sits in a vault, how do create growth in the money supply? I think I heard Hugh Hewitt comment along these lines.
I object to his repeated use of the term paper money. In the total, there is not enough paper money to stand for the electronic bits that are actually the money. In today’s world, money is accounting entries on electronic ledgers.
The article is a good piece but overlooks one extremely important consideration, inflation. As the debt payment is stretched out, the total in the out years is decreased by the coming inflation. The value Of $10 in 2020 $$ measured against 2010 value will be only $5 or less.
By then, gold will be at least $2,500 per ounce and gas in America $6 or $7 per gallon, that is if there is still an America. With the Mexican conquest the new leaders migh t make gas be sold in liters.
How many ounces of gold in a pound? I can vision Obama decreasing the price of gold by messing with this number.