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.308 match grade hollow points have value due to tradition (and the ability to reach out an "touch" someone at 800 yards). Make sure you diversify your portfolio with beans, bullets and bullion.
Make that "buried bullion"?
You limited the range.............
That's a tough shot beyond that. I admire your optimism and possibly your skill, but think you might have a little bit more of one than the other ;0
Ben should be on stage every day. Every time he speaks the once cute little gold bug is fed a little bit more fiat, growing into a ferocious gold monster.
I working on a real time chart: he spoke from 10-12:30pm - gold increased about $15.36 during that time.
I'd like him to do appearances every day!
Ben does for gold prices, what Barry has done for gun sales.
If he really believed this, his actions would be otherwise.
I don't know how RP didn't bust a gut on that.
He is as pshychotic as they come...
YOUTUBE OF IT: http://www.youtube.com/watch?v=YGK5z2LBn7k
Thank you for posting the video. That was CLASSIC!
I second that. Thanks!
I'm not the one who uploaded it, but you're welcome.
Ahhh.. just as sweet as the first time I heard it. thanks! I've duely emailed this out for many to see.
"The price of gold reflects many things...." Ben Bernanke.
I'll add that the valuation of the dollar reflects only a few things.
There is a much shorter list of what the meaning of a weak dollar portends.
So, which is the better "asset"?
I guess Paul will be asking soon 'so how long you think the dollar with last?' since he can back it up by saying no fiat survives forever so it is a fair question. But another one to avoid like the plague for the Bernak
You think he would give the same answer....Tradition?
No, he would say "It's the RESERVE currency of the World".
Why not seashells?
Because there is no tradition linking seashells to wealth.
There are rarer things than Gold which have less value.
An asset is only worth what someone else will pay for it. If everyone thinks gold is great than it is worth money. The same way paintings sell for millions. I personally wouldn't pay 10 bucks for paintings that sell for millions, except for the fact that I know I can probably sell it on to someone who would pay the earth to show how wealthy they are to others.
I like seashells, they're pretty! I WANT CBs TO HOLD SEASHELLS!
Well if you can convince enough people that seashells are the thing to have then you'll make millions.
Millions still believe in God. Gold having value is relatively rational by comparison.
They're not shiny enuf.
Here's a checklist for you:
Beat me to it!
You must admit, though, it's hard to print seashells.
so those japanese school girl used panties vending machines are really ATMs?
He gave 10 characterists for sound money and your example has one of them: rare. This is just for the record. May God have mercy on your soul.
Rocky just to add to Fungible: It is globally substituted and exchanged for like amounts.
Yeah!Like used Japanese school girl panties.The panties I mean.
And people think the Japs have a problem because of Fuckushittinme.
Humanity is doomed.There is no veneer of civilization remaining.
Hmmm silver rusts and decays, maybe that's why it won't be held by CBs?
Bitcoins? Have you ever had a hard drive crash? Ever had a memory stick die on you? Bitcoins are just bits, not quite as durable as metal, or diamonds...
How about "easy to get through a metal detector" ?
As we head into Armageddon, diamonds will rise in value too.
Umm, not so true. Go to Papau, New Guinea and see their shell money. They still use it as a means for exchange. Even the IMF could not convince them to reduce the use of shell money. I have some, but you could google for more info.
But if they don't use shells at Wall Street, why do they keep playing the shell game with us?
They don't have much indoor plumbing though. Or live past 55 years old. Not that either is a necessity, but both nice to have.
Do these rarer things have similar characterists to gold (elemental, metal, non-toxic, non-reactive, et al)?
Crowded Beaches as people search for seashells would cause land shifts. Problems such as Guam tipping over would happen all over the world.
Good call, bringing that back to light. But you know that these are the annoited and illustrious leaders you're villifying, didn't you hear yesterday from King Putt himself that these matters are best left to professional politicians. Tiny filthy peons like us need not understand.
"King Putt" LOL!
can't take credit for it, read it on another blog yesterday. But I'm sure as hell going to spread it around!
That's funny, when Ron Paul asked GREENSPAN the same question in 2005 he got a COMPLETELY different answer:
That might be the dumbest and most ridiculous thing Bernanke has ever said.
Here is where it all went wrong then. Alan Greenspan on gold and gold standard: "So I think central banking, I believe, has learned the dangers of fiat money, and I think, as a consequence of that, we've behaved as though there are, indeed, real reserves underneath the system."
I wonder where Alan Greenspan learned how to speak English.
I'm always amazed how quickly Greenspan changed from speaking with a mouth full of marbles to being quite coherent. It began two minutes after his term with the Fed ended.
Strange coincidence, don't you think?
Not really. If he really is, in his heart of hearts, a Randian then his job is done. He has done more than any other to bring the system down.
Since the bottom in gold in the first quarter of 2001...the U.S. dollar has lost almost 85% of its purchasing power vs. the yellow metal since then. I would think that the chart for every other currency on Planet Earth would bear a striking resemblance to this chart.
Nice Rocky, may have to add that one to my blog list. I had not visited that link before.
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