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WeaLTHY INDiaN PHD MiNTS GoLD SHiRT To MaKe A PoiNT...

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INDIAN CLAIMS GOLD IS CLOTHING NOT MONEY

BANZAI7 NEWS--A wealthy Indian PhD has had a gold shirt minted in order to prove a point : Gold is clothing, not money.

 

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Tue, 01/08/2013 - 00:57 | 3131858 ShakaZulu
ShakaZulu's picture

I believe that outfit would look more fitting with the beaches and banks of the Grand Cayman's setting it off.

Mon, 01/07/2013 - 12:55 | 3129742 Money 4 Nothing
Money 4 Nothing's picture

How fucking Barbaric!

Mon, 01/07/2013 - 12:44 | 3129715 Swarmee
Swarmee's picture

WB7 great work as always! But the first thing I thought when I saw all those gold chains was Mr. T! Would you grace us with a version of the above with the iconic Mr. T mohawk? Maybe with the old A-Team (ctrl-P Team) van in the background dispensing Bernank0-bucks to the masses?

Keep it up!

Mon, 01/07/2013 - 12:27 | 3129647 the grateful un...
the grateful unemployed's picture

does Debt Bro have it in Hawaiian style?

Mon, 01/07/2013 - 12:21 | 3129631 lakecity55
lakecity55's picture

Are you sure it's not made of Tungsten?

Mon, 01/07/2013 - 12:22 | 3129630 ebworthen
ebworthen's picture

People say Gold is not money; why then is it not free or nearly so?

If it isn't money, why are people willing to pay over $1,600/ounce?

If it is mass hysteria on a global scale it at least has something tangible to it; unlike fiat.

Who is that masked man!?!?  Look!  At the printing press!  Able to leap over skyscrapers of debt with a single Ctrl+P$ stroke!  Benny the Banana Republic Man!

Mon, 01/07/2013 - 13:04 | 3129765 sgt_doom
sgt_doom's picture

There's no real essential difference between fiat money, and fiat gold, when it was used as a basis for the currency standard.

That IS the origin of fiat money, BTW.

It is the hierarchical control of money, specifically the "divine right" to "create" money, per se.

Recall, please that shortly prior to the assassination of President Kennedy, he not only issued an upcoming budget proposal to congress which stressed overall economic democracy, and the ending of the oil depletion allowance (in effect since 1913), and the Alliance For Progress, to stress economic democracy and land reform in South America, but did a run around -- avoiding the Federal Reserve -- to directly create money by going through the US Treasury, to the tune of approximately $4.3 billion.

(For the first time in about forty years or so, I actually read about that once again in an actual publication -- last time was in Vogue magazine back in the 1960s, when there still existed a form of free speech and free press in Amerika.)

http://www.ideasanddiscoveries.com/

President Kennedy, Rev. Martin Luther King, Jr., Sen. Bobby Kennedy (and I believe Malcolm X also) all came to stree economic democracy, or opportunity for the majority, and shared prosperity, the complete opposite from the hierarchical control of money and the money creation process.

Mon, 01/07/2013 - 11:58 | 3129549 the grateful un...
the grateful unemployed's picture

wait until the NBA hears about this

Mon, 01/07/2013 - 11:15 | 3129405 villainvomit
villainvomit's picture

Haha ! That is the funniest thing I have seen all a.m. Thx!

Mon, 01/07/2013 - 11:39 | 3129482 whatsinaname
whatsinaname's picture

Yes that is funny but what is he doing outside the Federal Reserve ?

Mon, 01/07/2013 - 11:08 | 3129383 Agent P
Agent P's picture

I pity the fool.

Mon, 01/07/2013 - 10:30 | 3129273 Jack Sheet
Jack Sheet's picture

Clocked in just to vote you a 5 WB! Cool stuff!

Mon, 01/07/2013 - 10:15 | 3129234 Fix It Again Timmy
Fix It Again Timmy's picture

Gold is simply a way to store the fruits of your labor in a manner that has worked for the last 5,000 years.  Some may be comfortable with the storage consisting of digital 1's and 0's on a whirling platter or being represented by a piece of paper in various forms.

Mon, 01/07/2013 - 10:32 | 3129280 Snakeeyes
Snakeeyes's picture

Platinum is less expensive. Ben should have an amazing platinum dream coat.

http://confoundedinterest.wordpress.com/2013/01/06/pennies-40-ton-trilli...

Mon, 01/07/2013 - 10:03 | 3129204 24KGOLD FOIL HAT
24KGOLD FOIL HAT's picture

I been wearin my hat fer awhile.  Now I cant be a diffrent drummer anymore, evrybody doin it.

Mon, 01/07/2013 - 09:57 | 3129197 monad
monad's picture

Pimp!!!

Mon, 01/07/2013 - 10:08 | 3129211 d edwards
d edwards's picture

Bullshirt!

Mon, 01/07/2013 - 10:03 | 3129177 Anasteus
Anasteus's picture

"Here you have it... just a tradition! But I like it. If you like the shirt go and buy some, money must be circulating. And I'm doing my best to keep discount price."

Nice work William, as usual :-)

Mon, 01/07/2013 - 09:36 | 3129167 Aegelis
Aegelis's picture

I'll buy that worthless gold shirt for the same Wal-Mart price as every other shirt, $7.  Waiting for his reply.

Mon, 01/07/2013 - 09:15 | 3129129 stant
stant's picture

is idea of kickin back with some 40s is 40 bill in mbs

Mon, 01/07/2013 - 09:04 | 3129116 Stud Duck
Stud Duck's picture

Back when the OWS movement was gaining steam, a TV reporter was interviewing a CEO of a security firm and he stated that some very rich clients were inquiring on the cost of a submarine to load their gold on and escape if the people and pitch forks started comming after them. No mention on the client inquiry identity. 

I keep flashing back to that interview and wondered how really shook the PTB were of the OWSers. I suspect very afraid if this interview was not bullshit. when that Marine Vet got shot in the face with a teargas canister in Oakland, the very young local banker was taking notice. That's is when I introducted him the ZH, he has been a daily reader, and buying land as fast as possible.

Keep up the good work William, I am sure you are getting through to "them". they just don;t want to admit it!

 

Mon, 01/07/2013 - 08:56 | 3129101 shovelhead
shovelhead's picture

I agree.

Gold has no value unless the Govt. stamps a dead guy's face on it.

I think its along the same lines as the Catholics miracle of transubstantiation, where the Host becomes the body of Christ.

Behold the power of Timmeh.

Mon, 01/07/2013 - 10:23 | 3129239 WhiteNight123129
WhiteNight123129's picture

What you are saying is wrong. Gold is not an instrument of circulation until you stamp a dead face on it, agreed. But saying that it has no value would be to stay that

1. Money and instrument of circulation are the same thing (which is debatable). Today many non US central banks, use the USD as a monetary standard on the central bank s balance sheet, yet it is not an instrument of circulation in the domestic economy of those countries (Brazil, China).

2. Since uncoined bullion is also a commodity, that implies that commodities have no value? Granted this one has little consumable use.

3. That store of value and commodity form of store of value are incompatible.

4. And finally that the government decides for you what is a store of value (Treasuries let us say) and what is not.

5. As Menger said the value is in the eye of the beholder, so until you can brainwash people in thinking that commodity form of money has not value, good luck. But as Henry Thorton noted, a bank account with currency does not add to the aggregate stock of comercial capital of a country because it is at the same time debit of a bank, so net net 0. Gold is not in that camp. The unit of circulation can be moved up and down and create wealth effect though. The Gold is not intended to replace paper circulation, but to strengthen confidence in credit.

http://gentlemaneconomics.wordpress.com/2013/01/06/how-to-measure-the-ac...

Many things have value yet are not an instrument of circulation. The Gold versus paper is not new at all. Everytime there are questions on the paper circulation people ask for the bullion, this happens wether or not we are on a Gold standard. The fact that teh Government unpegs the dollar to Gold has done nothing to prevent people from on their decide what they say is a proper store of value. Summers tried to repress Gold, but it has been a massive failure. Pigs can not fly. Inflation is just the increase in circulation medium in excessive of the need of the circulation motivated by political considerations.

 

Mon, 01/07/2013 - 12:07 | 3129581 the grateful un...
the grateful unemployed's picture

2. Since uncoined bullion is also a commodity, that implies that commodities have no value? Granted this one has little consumable use.

and what is a commodity? a raw material which has been refined to meet some measurable standards. if someone hands you a government gold coin, you know that the gold is there. if someone hands you a piece of gold, you aren't sure what you have (until its assayed and registered) which is why coins have a premium to buillion. funny how someone can state the obvious and then get pummeled. government works in the interest of the people (to commoditize things and set a fair market value for their distribution). that some people are occassionally corrupt, isn't the fault of government, [though of course some government policies amount to corruption of the free market standards they have promised to maintain] gold isn't worth anything until its been commoditized (measured and defined)

Mon, 01/07/2013 - 10:24 | 3129255 Dr Benway
Dr Benway's picture

I may be way offbase here, but I think the post you are responding to was sarcastic...

Mon, 01/07/2013 - 09:53 | 3129190 Enslavethechild...
EnslavethechildrenforBen's picture

You fucking dick.

PAPER HAS NO VALUE UNLESS YOU STAMP SOME DEAD GUYS FACE ON IT.

Mon, 01/07/2013 - 08:44 | 3129084 JOYFUL
JOYFUL's picture

From today's zaman -

"Iran appears to be the final destination of a cargo plane carrying 1.5 tons of gold, which is currently being held at an ?stanbul airport, a Turkish news report said on Sunday.
The plane, an Airbus A-300 owned by a Turkish private company, made an emergency landing at Atatürk Airport for refueling and personnel reshuffle on Jan. 1, the state-run Anatolia news agency reported on Saturday. The aircraft has been held at the airport since then due to missing documents.

Anatolia said the plane took off from an African country and was destined for Dubai. Several reports in the media said the African country in question was Ghana."

One and a half tons...
And no, that's not gold "ore" this time - that's enough shiny to fit out Irans' entire Republican Guard in "chic magnet" toggery!

Mon, 01/07/2013 - 08:29 | 3129076 jldpc
jldpc's picture

The absurbity of it all. A thousand or more very clever, or even brilliant WB comments through art - a national treasure really. But this one got to me - through to me - how fu_king absurd it all is. Like an Arc Light (1965) bombing attack - so beautiful to watch - such clarity, such depth, such a trigger to deep emotions about how futile it all is. Bomb the jungle; make 40 ft deep holes. For what we all died in vain; and finally it was over and we ran. Bomb the shit out of them Ben; and wear your gold shirt with pride; it is only a matter of time until you are gone; and then..........

Mon, 01/07/2013 - 08:56 | 3129097 williambanzai7
williambanzai7's picture

The same gold has been rattling around civilization for thousands of years and amazingly, it has held its value relatively constant.

Fiat paper? Well it's just paper. And the Trillion dollar coin idea is just highlighting the absurdity of the whole edifice.

Mon, 01/07/2013 - 09:51 | 3129186 Enslavethechild...
EnslavethechildrenforBen's picture

Amen to that.

Mon, 01/07/2013 - 13:42 | 3129895 Acidtest Dummy
Acidtest Dummy's picture

The history of currencies is unambiguous -- ashes to ashes.

-Someone smarter than me.

Mon, 01/07/2013 - 08:13 | 3129054 Frastric
Frastric's picture

Bernanke adorns himself with a relic as barbarous as he...

Mon, 01/07/2013 - 08:18 | 3129061 williambanzai7
williambanzai7's picture

I am amazed at how those gold threads actually fall naturally.

Mon, 01/07/2013 - 10:15 | 3129230 jackinrichmond
jackinrichmond's picture

i read that the shirt was made of gold rings

Mon, 01/07/2013 - 09:14 | 3129127 Wakanda
Wakanda's picture

I have seen some silk saris with gold threadings/decorations that drape beautifully.  The drawback is that the Au is rough to the touch compared to the silk that it's woven into.  Worn as an ostentatious outer layer, with a fine silk under layer, the gold may never touch the skin. 

It's all about the BLiNG, BeN - Barbarous relic is Da DoPe THReaDS!

Mon, 01/07/2013 - 10:57 | 3129345 trav777
trav777's picture

I know Brioni had a tie with some gold thread in it. How cool to have the fabric construction tag say "silk" and then "gold"...who the hell has gold in their clothes? That's pimp

Mon, 01/07/2013 - 12:35 | 3129683 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

"Pimp"?

Mon, 01/07/2013 - 13:53 | 3129932 Acidtest Dummy
Acidtest Dummy's picture

Come on LH, you should know better than to feed the trolls.

I know, to Tyler's army subtracting one from infinity is a another victory.

Mon, 01/07/2013 - 10:16 | 3129238 Dr Benway
Dr Benway's picture

I believe Datta actually took this one step even further:

 

It's not gold thread, its thousands of linked 22K gold rings. So the Amazing Gold Dreamcoat can double as (very soft) armor as well! 

Mon, 01/07/2013 - 07:56 | 3129043 Setarcos
Setarcos's picture

Um WB, every time that I have tried to point out the fact that gold is not money, unless minted as coinage and stamped with a face value, I've had a flurry of red arrows.

How come you get away with it?

BTW I regard you as a friend and generally like your contributions, especially because I could not do what you do.

Mon, 01/07/2013 - 12:31 | 3129664 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You get junked because you are WRONG. Money must "store value". Only precious metals meet that definition of money.

Mon, 01/07/2013 - 11:39 | 3129485 NotApplicable
NotApplicable's picture

It's likely due to your belief that for gold to be money, it has to have a face value stamped upon it, which means, you don't really understand what money is, as it has NOTHING at all to do with a fiat decree of official value (that's merely a sovereign tradition).

"Money" is simply something that is commonly known the lowest form of exchange (meaning that you don't have to exchange it first in order to spend it, thus possibly losing purchasing power having to discount it due to its lack of liquidity).

Any THING can be considered money, even an abstract thing such as one's debt. That it is denominated in dollars merely means it has a supposed standard of measure. In order to be recognized within a standard, gold coins merely need to be stamped with weight and fineness (or otherwise known via a recognizable mint mark).

Mon, 01/07/2013 - 12:41 | 3129705 cranky-old-geezer
cranky-old-geezer's picture

 

 

We don't even have "dollars" anymore.  We have bank notes called "dollars" out of habit.

But you're right, "dollar" is a unit of measure, not a currency.  We have FRN currency, called "dollars" incorrectly.

But it's all just a game anyway, nothing more than keeping score, because FRNs have no real value.

Mon, 01/07/2013 - 09:17 | 3129133 Wakanda
Wakanda's picture

Dope avatar Setarcos.

Mon, 01/07/2013 - 09:53 | 3129189 Ralph Spoilsport
Ralph Spoilsport's picture

Ever hear Richard Thompson's song about the Vincent Black Lightning?

https://www.youtube.com/watch?v=5yw2yKNLEPc

Mon, 01/07/2013 - 10:47 | 3129319 Wakanda
Wakanda's picture

Nice guitar playing on a very nice guitar

Mon, 01/07/2013 - 08:17 | 3129060 Ralph Spoilsport
Ralph Spoilsport's picture

Socrates, consider the red arrows as navigation aids to keep you on the path of ZH gestalted truthiness.

I'd give you more green arrows for the 1952 Vincent Black Lightning avatar if I could.

Mon, 01/07/2013 - 09:35 | 3129164 Wakanda
Wakanda's picture

Red arrows can also mean you're being punished for puncturing bloated egos.

Roll with it FiSHeS.

Mon, 01/07/2013 - 08:24 | 3129069 Setarcos
Setarcos's picture

Thanks, though I cannot really hold a candle to Socrates, who has been my inspiration to question everything and attempt to know myself.

Mon, 01/07/2013 - 08:16 | 3129058 williambanzai7
williambanzai7's picture

I'm just adding a flourish to the clown's own words. And the clown gets skewered by me at every opportunity.

I don't think it's the technical question of what is money that gets people ornery. It is the mainstream's general disparagement of PM as an investment or the notion of sound money, which is obviously driven by an agenda. Fiat money is not just a farce, it is an evil farce.

Don't worry about occasional rhetorical friction, I adhere to SI Hayakawas notion that agreeing with everything someone else says is a sure sign that you've both been brainwashed.

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