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$10,000 Gold And 'Monetary' Roots: From Kunta Kinte To Keynes
The saga of an American family centered around Kunta Kinte's roller-coaster life through freedom and slavery made Santiago Capital's Brent Johnson reflect on just how critical 'roots' are in many aspects of our lives. From anthropology and linguistics to the root of law in the US Constitution and Bill of Rights, Johnson extends the analogy to precious metal derivatives exchanges rooted in trust and explains that money is not the root of all evil. While his political taunts and Keynesian antagonism is well worth the price of admission, it is the discussion of the 'manipulation and debasement of money' as the root of all evil that is key as the manager explains gold's centuries long avoidance of this Lenin- or Keynes-inspired comprehension of how governments can "confiscate wealth" and by a "process of inflation... can overturn the existing basis of society." Gold provides the roots or solid base on which economies have grown (or individuals stored value) for all of recorded history. His conclusion is key - a tree (currency) with no roots simply cannot stand for long and the market will eventually come to the same conclusion it has for the last 5000 years as the OTC derivative bubble implodes.
3:00 Precious Metal Derivatives
3:20 Money
4:10 Root of Today's Economic Problems
4:50 Lenin and Keynes
5:10 Monetary Roots
6:30 Why Is This Important for Gold
7:30 How much will be needed -
- To back just 25% of the US Dollar, Gold would need to rise 50% in price
- To back 100% of the US Dollar, Gold would need to be over $10,000.
9:10 What would a military conflict do to the price of gold?
Always remember Gandhi's dying words of the 'roots of violence' - "wealth without work, pleasure without conscience, commerce without morality, science without humanity, worship without sacrifice, and politics without principles."
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I knew
Kunta Kintewould come in handy...
Your name is Toby
what's your name boy...
kunta kinte never existed, the story was plagiarized
Hey Trav, remember you told me in Weimar germany gold rose more than silver because it was easier to sneak around, less bulky...?
lol
Trav was born a poor black child ....
Maybe, but he is absolutely correct about "Roots." There was no Kunte Kinte, Alex Haley ripped off the work of a white writer called "The African."
Kizzy...fetch me some water...
I loved Roots.
It was a popular mini-series back when I was a kid.
My favorite character was Chicken George.
I also liked Driving Miss Daisy.
http://www.angrysinner.blogspot.kr/2013/01/wednesday.html
Gold is the Methuselah of money.
(Edit: Tyler - you might run one of your Google search queries to see if there's an uptick on "Kunta Kinte" searches...)
Why the down arrows? It's the form of money that has been around the longest. How did you interpret the comparison?
Hakuna Matata!
Zimbabwe Ben and his Flying Monkeys.
No inflation, but commodities soaring over past 6 months.
http://confoundedinterest.wordpress.com/2012/12/31/no-inflation-housing-...
10,000 gold means a 21 dollar carton of eggs..............
Complete and utter fallacy.
really???? you buy into the idea that gold soar without a currency crisis??? sorry to say, gold, at best, will preserve what you have...which isnt bad.......but id rather be the one raising the chickens and selling the eggs...............
yep.
Some wiggle room included for production declines
I don't know why Kito's comment always gets junked. Gold at 10k/oz would be the byproduct of a seriously collapsing dollar.
The dollar does not have to do anything for gold to get to 10K. Gold is already worth more than that.
That is exactly correct.
If gold has to be over $10,000 to back the US Dollar.......what price does it have to be to back the Chinese Yuan???????
That is what matters in the future
Gold is worth approximately $1655.00, not to be confused with what people want it to be.
Not a real market, not a real price bro. I'm sure there are people who would negociate for a higher price. There are plenty of private markets...
People on ebay want it to be more than $1800 to $2000 per troy ounce. There's a huge difference in your paper market quote and the real world. Paper carries a significant discount! :)
You have never been to a bullion dealer, and never bought a piece of physical gold, and think you can't do that at a few percent over spot? And you argue that the "real" price of physical gold is determined by.. eBay??
lol. Some of you guys are just too much.
It could also be worth zero when going by the paper price ;) And to that effect I truly hope so!
Kito is totally correct......+/- a few eggs. Gold will only buy, in exchange, what it has always gotten, in exchange. Its not going to shoot to the fucking moon, and neither is silver. The principle behind holding gold is to preserve your purchasing power of stuff. Moreover, you don't need 100% backing of fiat in gold! Thats asinine and is why people think a gold standard is whacked. Fiat backed by gold is no longer fiat. So lets forget about fiat. Instead think of a gold back declared currency in whatever terms you like. Fix a value in exchange, and let prices (in whatever currency you elect) move to reflect the relevant distribution of gold to currency. Kito is right. $10,000 gold is approximately 6 times current prices, implying $3.50 X 6, or $21/carton. As a side bar, I have noticed that gold has tracked well with the price of arable land. cheers.
You're assuming a linear relationship will always exist in its current ratios...
If gold becomes relatively more desirable than eggs, it will rise in cost at a greater rate. The two values cannot and should not be pegged. The world is not that rational.
Desirable relarive to what? I mean, thats the point isn't it? Under what circumstances does gold become more desirable than what it normally fetches in exchange? Would we say one day, for example, that gold fetching 1 acre of arable land, would suddenly be worth 5, 10, 100? Fiat becoming worthless does not change the exchange value of gold. Scarcity, maybe, or properties of the metal that newly discovered offers an incremental market benefit not before realized. However, debasing the currency would imply gold rising to infinity, and in the measure of the currency debased that would be true, it will still only fetch you about 1 acre of land.
I never thought about the ratio of an oZ. of gold to an acre of land, thanks, now i have a better idea of how to judge land prices and value. my problem with owning land is property taxes can effectively be expropriating and your ownership is a public record. Historically farmers have been sharecroppers as much as owners because of demands by overlords for part of the crop or money as taxes.
What land? An acre of Iowa crop land or Kentucky pasture land? While I might consider paying $2,000/acre for 50 acres of Pike County, Illinois CRP surrounded by 150 acres of mature timberland because I love to hunt whitetails, no farmer in his right mind would pay an ounce of gold per acre for such non-productive agricultural land. I might be making your point, because that acre of Iowa crop land is going to fetch far more than 1 ounce of gold (at today's prices) while I could buy more than 1 acre of pasture land for an ounce of gold (at today's prices) and two, maybe more, acres of my dream deer hunting land.
trader joe's jumbo white eggs-- $1.99 doz.
Gold for wealth preservation, Silver for speculation.
Gold has outpreformed inflation for 14 years, why not in the future?
agreed thats complete bullshit, i thought u people were smarter than that
Klito, that is utter rubbish. Gold will again become real money and an oz. of Au will buy a pissload of eggs in the near future.
You've got it backwards, Kito. A $21 dollar carton of eggs brings on gold revalued to something well beyond $10,000 an ounce.
Kito's point is that gold will hold your purchasing power. I thought that is all we ever wanted it to do?
No, that's just the basic expectation.
We don't mind gold yielding some bonus too.
Call it an "award" for holding on to it all those years.
And I dont mean a bonus in "dollars"... fuck the dollar.
I'll take a par on gold when my 401k eats shit and dies, or when salaries don't keep up with costs. That gold is in the horse latitudes right now tells me that one or both of those scenarios is playing out momentarily.
A small proportion of PM holders here do it for capital preservation. The rest hold it for speculative purposes, have been sold some "silver at $1,000" bs, and are no better than speculators of any other kind.
Your collective psychic power is truly astonishing, to know just what each and every poster here is and has been thinking. Utterly remarkable.
Now, can you go pick next week's Super Lotto numbers with equal prowess?
I actually read posters' comments, dipshit, that's how I know.
I realize that's a foreign concept for those of you that just reflexively downvote based on your preconceived notion of posters
Now have you got anything of value to contribute? Nooo? Didn't think so.
$10,000 gold? How about we just get to $2000 this year before we get carried away? I wish I had an oz. of silver for every time I heard a pie in the sky forecast.
These criminals have it well under control, I guess until they don't.
Agreed. And by the time it gets to $2,000+, it means that the Elite will have bought up all the Phys. and the price won't matter if you can't get any.
Time to "get real". As in "real-in-your-hand-gold".
IMO, that would be another way to force the paper/ETF-Gold over the cliff: When the demand for Phys way outpaces supply, word will get around like wildfire. Then the "naked Emperor" of paper-gold will be exposed for all to see. His shame will be on www and MSM. And the consequences on fiat will be very uggly. Worse than Golden Showers.
I'm seeing Gold Eagles selling on ebay for $2000...but most around $1800...
You really are a fucking retard.
Don't be so hard on yourself.
On second thought, you're right --- please continue.
Do you actually think you are funny? This is a serious question. Did you think that comment was in the least bit witty?
Now go buy some Jesus Toast on eBay, someone was asking $100,000 for it, so that's what it must be worth in the "real" world.
If my comment was lacking in wit, it was only because I felt no great need to make any more of an effort to be funny than you habitually seem to do here in trying to make an intelligent comment or argument.
You have long ago proven yourself unworthy of serious consideration or response, and frankly I do not give a damn in the least what you find funny or not. Given your consistently insulting, idiotic, and unintelligent blathering, I feel no responsibility to treat you with any respect whatsoever.
So you don't care that your attempts at jokes are not funny, and that your attempts at serious comments are not intelligent?
Well at least you are recognizing your limitations.
Now go fuck yourself.
I laugh at human maggots like you.
Just off Kitco _ USD $ 1,739.28 ea.
Finally you doomers capitulate. Admit Bernanke saved us from a Depression and BTFD already! Stop it with this "FU Bernanke" stuff already.
he must have taken a drive thru NJ, those Christmas looking trees with the weak roots, were knocked down everywhere.......
7:30 How much will be needed -
Yet more gibberish promoting the quantity doctrine. The value of a bankers obligation is not a product of its quantity.
Gold does not need to be over $10000 to "back 100% of the US Dollar". No price of gold will back the US Dollar, because the US Dollar is junk. You & everybody else just don't realise it.
To concatenate a couple of quotes from around 1720;
A very good point.
People often promote this "quantity doctrine", because deep down they hope we can have a painless transition to some kind of gold standard, and have everything continue without any kind of reset.
Of course that's bullshit.
It's only from our viewpoint today that we might make the approximation of 10'000$.
If the dollar continues to die.... at one point it will be dead.... d'uh.
An analogy: imagine a beauty queen who is the beauty standard for all women in the world.
Over the years eventually she will get old and sick ... how long is she going to plaster her face...
Also the ideal of beauty changes over time. Maybe we should abandon the anorexic bony look and return to the thick voluptuous curves of real women?
The two are not comparable with each other... at one point there must be a hard transition.
Gold will simply not be measured in dollars anymore the higher the number gets.
But what if the anorexic look gives me a woody?
There is nothing wrong with that CP, but if I had it to do over, I would cultivate an attraction to fat women -- there certainly are a lot of them.
Fiat money - ANAGRAM - Famine Toy
Coincidence?
Kunta Kinte is a bogus myth. Can you actually imagine a bunch of fresh off the boat square dancing drunk white guys, press ganged into service against their will, with no rythm and no maps, and no teeth due to malnutrition, running through the jungle in pantaloons, capturing the locals? I wouldn't invest in that plan. The African tribes, the islamic Doheny empire, emptied their prisons and got rid of their political enemies by selling them to the Dutch. Just like when Castro unloaded his convicts on FLA. The European word for slave references the Eastern Europeans, caucs, not Africans. Its roots go back to the Greek empire, prior to the Roman empire, long before the semites invented Abraham - back when they were performing human sacrifices to Ba'al. However the semitic word for slaves is the same as their word for Africans - blacks. And it was the semitic people who ran the global slave trade - and still do.
Of course they taught you a different version, one that clears them of their crimes against humanity. The hidden hand is red with blood. Ask the Greeks.
how dare you question orthodox dogma!!!! whitey raped black women, dammit. And chased down and enslaved hundreds to put on ships. Then whipped and beat and raped every single day like psychopaths.
I actually met a black girl who was raped by a white man; this was almost literally the only occurrence of this sort of thing in the past god knows how many years. The opposite is a 30,000-a-year crime epidemic.
Slavery is an economic condition. What do you call it when the IRS holds you down so congress can take turns on you?
Forcible Rape. But it's our fault because we wear short skirts.
Brown shvarzer, how come you taste so good? Brown shvarzer, just like a lil shmear should.
If I put a gun to your head and demand your money it's called robbery.
If the government puts a 'gun' to your head and demands your money it's called TAX.
Theft in both cases.
What part of that made sense?
Not very coherent, I'll admit, but he's not wrong. According to the most recent government stats, there are about 30,000 black-on-white rapes per year, compared to fewer than 10 white-on-black rapes, if that. Not sure what that has to do with the subject, though . . .
This is the first time I've heard some of this. Do you have any good sources to read?
Hannibal by Patrick Hunt 2007, iTunes U Stanford collection
The Empire of the City, EC Knuth http://archive.org/details/TheEmpireOftheCity
Look at the Lehman brothers and their associationsThanks!
So they *forced* the Dutch to buy their slaves? Is that what you're saying?
Lenin said and Keynes agreed: 'The way to crush the bourgeoisie is to grind them between the millstones of taxation and inflation.'
Why? Because one lot of powerbrokers want to unseat the other lot of powerbrokers. That is why the founding fathers put specific checks and balances into the Constitution. They understood that government becomes a magnet for venal powerbrokers, and the people must have the capacity to defend themselves in a Republic - a Republic, not that venal thing called democracy whereby the majority can dictate, whether they are freeloaders or honest.
Socialists and communists use the word 'democracy' to tyrannise, grab wealth and power for the inner party, and oppress everyone outside their exalted bureaucracy, and money masters, Fiat debt slave masters.
Just a thought....
So read the message at the top of Provident Metals page. They have hired extra people and extended there working day to ship to their customers because of the "overwelming" volume they have. And I would think that about the time gold would reach $10,000, 1/4 oz of silver would easily buy a dozen eggs. If you can keep your chickens; because by that time the stores will have been stripped by starving looters and the transportation system would have broken down. Same goes for fuel and anything else outside of the root system. He should have said at the end of the vid, which is ok, as it does have some base in fact, "Good 'Fucking' Luck to all. Because your going to need it."
And I'm never "Sarcastic."
Reading between the lines, they are selling PM's they don't yet have.
I'll take Kunta Kinte and raise you a Mansa Musa. Now thats some Gold Bitchezzz!!!
January 6, 2013
"SB-99 will add a new Chapter to the Indiana Code effectively making all taxes on gold and silver coins and transactions a thing of the past."
http://libertycrier.com/finance/gold-and-silver-legal-tender-law-introdu...
You can use these last buble months to prepare, but u can also use the collapse to get rich. Own gold or trade gold and silver with leverage using cfd's.
Reading between the lines, they are selling PM's they don't yet have.