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Saks upgraded by JP Morgan, stock has 43% of its float sold short, now the stock is up 6%...
'The age old question - is gold a currency.'
Spend any appreciable time in Asia and you know this question is irrelevant
Metals food guns ammo equals peace of mind.
i don't mean to be a party pooper.
i don't understand gold.
i can't eat it.
Go long sugar, in that case
I hope you enjoy greenbacks with ketchup
Actually, I am growing my own tobacco here in Ohio. It's a good medium of exchange with the local farmer's markets.
And regarding not being able to eat gold, I would suggest that equities go very well with a nice Great Lakes wine. The fruity taste of a Ferrante ice wine compliment the fruity action behind the scam of equities. Mmmmm delicious.
I am planting tobacco this year for the very first time.(Va)
When do you plant and how do you deal with the very small seeds?
depending on where you live, seeds should be germinating in a small hot house right about now or very soon. They take about 4 weeks to germinate and grow and can get big pretty quickly. Once the last frost makes it way through your area, acclimate them to the outdoors without the top of the hot house. Plant after acclimated and fertilize with ash from a good fire (Federal Reserve Note work great, but I use the ashes from burnt decorative grasses as they are rich in Nitrogen). Water regularly and the leaves are ready to pick when they start to yellow late in the fall.
The seeds were a pain in the ass and I haven't found a good way to sow them without dumping dozens. Make sure you sow your seeds on top of the soil and mist to water until they establish after growing.
If all else fails, google "growing my own tobacco" and there should be loads of info. The smoke is a shitton better than this garbage they sell in pre-packaged cartons too.
I'll be rolling cigars, so will be planting Connecticut shade too.
Watched plenty of harvesting and drying as a kid, just never experienced planting those small seeds.
No problem. Not only am I addicted to tobaccy, but this forum must have nicotine in it as well.
The forum is addicting. Can't wait to try "organic" tobacco.
BTW, found a novel way to grow tomato plants from seed, which has always been my bugaboo. I just feed the chickens tomatoes or mix the seed in with their feed, and then plant the chicken shit.
Fastest, healthiest tomato plants I have ever seen. The warm (108 degree) and moist interior of a chicken is perfect to sprout those seeds....self fertilizing too...no shit!
That is freaking awesome. I wonder if there are hundreds of tips like this that have been washed away from our collective consciousness due to the fact that we Americans don't have to make much of anything other than fat and dead brain cells.
Your tip just brightened the shit our of my day. I have to tell me buddy who raises chickens about this.
Humankind has lost a ton of knowledge. Archimedes discovered and worked out integral calculus in 225 BC.He understood limits (as they apply to calculus). This knowledge was erased and replaced by religious writings and recovered by a project at Stanford.Had this knowledge of Integral Calculus not been erased, we would be living in an entirely different world, because the discovery of derivatives would be soon to follow.
Burning of the Library at Alexandria another big loss.
The chicken shit planting method was just an accidental discovery on my part. It made my day too! I will put a few tobacco seeds through a chicken and see how that goes....
Wow! Planting chicken shit. That's unbelievably awesome. That rocks like a crazy rocking thing that rocks. I love discoveries like this; it's what makes humans different from non-humans. I need to figure out how to try this. They're loosening chicken-raising rules in my area due to increased interest. I've never gotten decent tomato plants from seed; this will be great. Wait until Monsanto patents the digestive tract of a chicken; then we're screwed.
LOL, Monsanto is the devil, LOL
I could never get a tomato plant from seed, ever....
Greenest, thickest tomato plant leaves I have ever seen
Happy fucking chickens too...
Great garden fresh tomatoes
An all around winner...
Only downside is you will need to thin out the plants a bit..
You might like this:
Thanks, will read. you may enjoy:
Logsdon, living at nature's pace and contrary farmer
Anything from Joel Salatin
Malabar Farm by Louis Bromfield
The unsettling of America by Wendell Berry
The Good life by Helen and Scott Nearing
Amish living type books:
Better off: flipping the switch on Technology by Brende
(brende, being a MIT grad, has an interesting perspective
on Amish techniques)
Great possessions by David Klein
All most excellent books. Enjoy
It preserves your buying power. That is all. And thank goodness for that.
Then why do you understand greenbacks/FRNs?
They are both mediums of exchange and supposedly stores of value. One requires a huge effort to mine, refine and mint. The other is created by keystrokes on a computer. One is easy to debase, the other can't be debased without it being easily discerned. One has no intrinsic value other than the cost of paper/ink/keystrokes and the other contains the value of the labor needed to free it from the earth.
And you eat Federal Reserve Notes? Or do you exchange them for things of value to you?... Just like gold? Let me see, gold--6,000 years as a proven store of value or federal reseve notes--40 years since we totally left the gold standard, hmmm... which is a more dependable stor of value? I guess maybe you need a higher degree of education, it is a very tough question. Good news: That education's coming!
When was the last time you ate a dollar bill?
It all a dream Sweetness. Yawn, scratch you nether regions and go back to sleep
Guys you probably have noticed it long time ago, however I have realized it just right now – so FUNNY, take a closer look at Big Ben Shalom’s picture on the Time Magazine Cover – the letter “M” behind his head looks like two little horns :) He looks like he came from down under … :)
Bernanke is Australian???
Yeah, from Hell :)
Hey, that's an insult to Australia!!
"The reason I own gold is because I'm worried about the long-term solvency of developed market governments."
I really wish I could learn to be this succinct.
I really wish I could learn to be this succinct.
Indeed. Good thing I get paid this week: Need to buy more stuff. :)
I am putting that line to memory
Indeed SWR. I should just memorize the sentence so that next time someone asks me why I like gold.
better find a good hiding place for it.
Mine was lost in a boating accident, along with my guns.
bull buskets .. twice your mouth opens, each time the quality of brain cells goes down .
why dont the gold bashers know any thing but something they learned in a 3rd grade economics sing about ,
Anyone dumb enough to hand their gold over to the Fed. The govt did not come looking for it. People "voluntarily" complied.
In any case, there was always silver.
Don't feed the clowns fellow ZHers.
Ohhh, ohhh, history trivia! I got one:
Thatcher's demise and the near-complete destruction of the Conservative Party can be traced to:
1. Busting the coal unions
2. The Falklands War
3. The Poll Tax Riots
chee-zee muzak plays....toes tap.... and the winner is....
Glad to be at the top of the class for once -
Remaining on a positive note, the Irish trade surplus is setting record levels chiefly because of a huge decline of imports which fed unnecessary consumption - also our exports while down are still in demand as they chiefly consist of goods that do not rely so heavily on consumer credit.
P.s. - We may be Green Austrians now but we still rely on the rest of the world to be nice Keynesians and Friedmanites
The Irish experience is like the Great Famine.
Britain and the BOE ran that ponzi and now it's like "take your medicine, fuckers."
Meanwhile, the larger UK gets a nice dose of QE and the City gets bailed out.
Yea if the potato crop fails this summer we will be truly fucked
Mr. Grice you're gonna piss a lot of people off when you use common sense like this.
I did that on anther site last week. Got meself banned for it, too. :)
Great read, thanks.
Excellent article with many points to ponder. I think that the US leadership will act more like the Weimar Republic than Ireland (or England under Thatcher). For one thing, our current administration is a wholly owned subsidiary of Big Labor.
However, at the risk of coming across as Cato the Elder, I will repeat often raised point about owning gold (although I own some, secondhand, through mining stocks) is that by the time precious metals become the best asset class, ownership will become illegal. It happened during the Great Depression. It will happen even quicker under our current government. The politics of envy are more prevalent than in the 30's and the concept of individual liberty is greatly eroded.
Buy gold if it makes you feel more secure but it will not protect you in the country I see us inhabiting in the near future. It will only make you a target of theft from our government, or of thieves (sorry, I repeat myself).
Just as in Rome, this system will only change through collapse. We are too big and too dysfunctional to reverse course (even temporarily) as Great Britain did under Thatcher.
Still, excellent article. Thanks, ZH, for bringing it to my attention.
Not only is the current system too big, but--as you pointed out--any resistance to needed change will be accompanied with the force of law. :(
Exactly. There is also an additional consideration. When faced with extreme economic distress, societies become unwieldy. Thus having gold is not the same thing as being able to consume it or keep it.
Since we are looking at Romans, a good example can be seen in the silver hordes unearthed in Britain. Roman culture continued in Britain for more than a century afte ther departure of the legions. However, Viking raids and general strife slowly engulfed the province (then kingdoms). Rich merchants buried their silver and gold hordes thinking they would recover them when times calmed down. They never retrieved them; obviously they died.
This is what survivalists do not understand. Forget about government expropriation which would come much before this. You simply cannot live in a bunker all your life. Society has to be stable to enjoy your wealth
SOME of them were never retrieved, and you don't know how those people lost their lives. It's just as likely that they died of plague, an infection, or they were killed in some other way.
Also, the Vikings didn't invade the British Isles until the 800s. The Romans pulled out in 410AD. That's a 400 year gap.
You can carry gold to another country.
May surprise people, but the legal status of various articles does not arbitrate their value.
Or are hookers and coke worthless?
The GD illegalization was to coin that traded in competition with the FRN. There is no such article now. And if ownership of bullion were illegal, you will see a sudden resurgence in the popularity of being Mr. T.
But gold won't be "worth" more than its equivalent in oil or land or anything else people want. It's not special to rob it anymore than it was 1000 years ago. Jesus, people steal cattle and chickens too, as well as vegetables. Hell, they may cart off your daughters.
Should a full blown government crisis develop and price supression mechanisms be removed, watch what happens when the rush to cover massive shorts ensues.
The short squeeze will be triggered by the world's Central Banks-as they buy in a panic-trying to stabalize collapsing currency's--
That's who will be paying the big prices to gold holders-
So what will the little guys do-when gold is so expensive?
They'll buy silver-which will outperform gold in terms of % gains--
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