[arete]

Greenspan's whole new era flim flam economy of paper IOU's piled on other paper IOU's depends on keeping the confidence of the ponzi participants. Buying gold or silver shows a lack of confidence in the debt ponzi scheme. As I told someone the other day, can you imagine what would happen if just 20% of savers went to the bank and tried to close their accounts and asked for cash? The whole ponzi debt scheme would collapse overnight. Last person out the door turn off the lights cause the party is over.

Richard W.

[WatchNKorea]

"As I told someone the other day, can you imagine what would happen if just 20% of savers went to the bank and tried to close their accounts and asked for cash?"

About two months ago there was another gold bullion thread running here at FR and at that time gold was hovering around $320 per ounce. In that thread there were some of us predicting gold would be at or above $450 to $500 within a year. I called some of my immediate family members and relatives to invest in American Eagles that same week and they did. Hmmm, I think I'll call these same family members and ask for my commission now ...rofl.

[WatchNKorea]

"Last person out the door turn off the lights cause the party is over."

Could very well be.