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Martian Central Bank Interested in Buying 100 $1 Trillion Coins

Tyler Durden's picture





 

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

The $1 trillion coin saga takes an unexpected twist....

The $1 trillion platinum coin saga took a surprising turn as the Central Bank of Mars has expressed interest in buying 100 of the proposed coins. Interpreters are puzzling over the meaning and subtexts of the Martian communique; since Martian is described as an often-ambiguous combination of Fortran and Hungarian, this is no easy task.

Opinion on the Martian offer is divided. Some suspect the Martian Central Bank intends to buy the $100 trillion in platinum coins with electronically created quatloos, i.e. worthless currency.

These observers believe the Martians intend to claim the $100 trillion in platinum coins constitutes a claim on the entire U.S.A., the purchase of which would effectively give the Martian Central Bank a massive beachhead on Earth.

Others believe the Martian Central Bank is simply playing an interplanetary practical joke, showing that any central bank that issues its own currency can magically create phantom money and assets. What better way to illustrate this than to buy $100 trillion in phantom assets with equally phantom quatloos?

A smaller cadre of analysts suspect the Martian Central Bank naively believes the fantasy that the arbitrary creation of assets, either via platinum coins or electronic entries in the Federal Reserve's balance sheet, creates actual value. Though this credulity borders on the fantastic, these analysts point to the many commentators in the U.S. who have bought into the platinum coin fantasy.

If Paul Krugman et al. have swallowed the fantasy that something of real value can be created from nothing, then why not the Martian Central Bank?

 


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Thu, 01/10/2013 - 16:06 | Link to Comment The Alarmist
The Alarmist's picture

Sorry, but Dr. Evil has dibs on the first run.

Thu, 01/10/2013 - 16:10 | Link to Comment kaiserhoff
kaiserhoff's picture

This is beyond counterfeiting.  It is madness, which is why the shitheads in DC love it.

Thu, 01/10/2013 - 16:20 | Link to Comment nope-1004
nope-1004's picture

The notion is floated over the news wires to judge public response.  As stupid as the concept is, TPTB are constantly sending out trial balloons to gauge public opinion.  The goal is to avoid civil unrest when the new system is unveiled, the shape of which needs to be preplanned.

 

Thu, 01/10/2013 - 16:22 | Link to Comment Pladizow
Pladizow's picture

Was'nt it only a couple of months ago that Krugman was talking about an alien invasion?

http://www.youtube.com/watch?v=jaED2ErdIv8

May be he knows something.

NAAAAAAHHHHHH!

Thu, 01/10/2013 - 16:25 | Link to Comment Bunga Bunga
Bunga Bunga's picture

No, it is just another Nigerian scam.

Thu, 01/10/2013 - 18:22 | Link to Comment francis_sawyer
francis_sawyer's picture

We're gonna need a bigger Mars...

Fri, 01/11/2013 - 01:27 | Link to Comment Bohm Squad
Bohm Squad's picture

I heard we had to send the coins Western Union as soon as we deposited their check for $200 Trillion.  On the bright side, we get to keep the extra for our troubles!

Thu, 01/10/2013 - 17:54 | Link to Comment tallen
tallen's picture

Makes more sense than our current financial system anyway. Go ahead Martians.

Thu, 01/10/2013 - 20:02 | Link to Comment aminorex
aminorex's picture

Amongst the least respectable means of smearing your opponent when you can't win a rational debate is the invocation of the "giggle factor".  They used it on  Ron Paul, and now they use it on the monetization via platinum plan.  Fact is, the dollar is backed by petroleum and air craft carriers.  Fact is, debts have to be paid.  Creditors would prefer the debts to be paid in hard currency, but there just isn't enough.  Debtors win this round, unless creditors decide to blow up the theatre with their children in it, out of sheer malice.

 

Thu, 01/10/2013 - 22:14 | Link to Comment kchrisc
kchrisc's picture

Best synopsis on the dollar's backing that I've ever seen.

Thu, 01/10/2013 - 20:51 | Link to Comment Carp Flounderson
Carp Flounderson's picture

Yes yes, maybe he knows like the rest of you hedgies that value can only be created by digging shiny rocks out of the ground.  ;)  buahahaha, gold standard... suckers.

Thu, 01/10/2013 - 16:24 | Link to Comment krispkritter
krispkritter's picture

Re: balloons...

 

<Marvin on the DEBT BUBBLE>  "Where's the kaboom? There was supposed to be an economy shattering kaboom!?"

Thu, 01/10/2013 - 16:28 | Link to Comment Flakmeister
Flakmeister's picture

Actually, this would apply to the majority of the posters here waiting for the dollar to implode...

It will, but not today...

Thu, 01/10/2013 - 16:40 | Link to Comment SilverIsKing
SilverIsKing's picture

Tomorrow?

Thu, 01/10/2013 - 16:51 | Link to Comment Flakmeister
Flakmeister's picture

~ 7-10 years or the House of Saud getting deposed.... Whichever comes first...  YMMV

As the JPY, GBP and EUR go through their death throes liquid assets in USD will be seen as safe havens... The Chinese will peg the Yuan as long as they can and will not drop the band as long the coupon from USD assets they have pays for ~25% of their oil imports...  

Thu, 01/10/2013 - 16:29 | Link to Comment kaiserhoff
kaiserhoff's picture

Yes, to judge public stupidity.  Let's say I value my underwear at $200,000.  I then put a gun to a bankster's head and say he must accept said drawers in satisfaction of my mortgage.  The fraud is in matching an insanely overpriced asset with a real liability.  The counterfeiting and money printing are in the same transaction.

Collect underpants >  Defraud the Public = Profit ;)

May Rufus and fellow travelers get what they deserve.

 

Thu, 01/10/2013 - 17:41 | Link to Comment Encroaching Darkness
Encroaching Darkness's picture

You and the SouthPark underwear gnomes have a real scam going!

Discharging a real liability by creating a fake asset, then pricing that asset to discharge the liability, is a FRAUD. If I did it, it would be a fraud (per your illustration). If You did it, it would still be a fraud.

If the government does it ... well, Marvin the Martian will be the least of our troubles!

Thu, 01/10/2013 - 19:26 | Link to Comment corvettekenny
corvettekenny's picture

If the Margaritaville machine was worth $92 billion, then surely a pair of underpants is worth $200k!

Thu, 01/10/2013 - 18:19 | Link to Comment midtowng
midtowng's picture

The actual name is Central Bank of Barsoom.

Thu, 01/10/2013 - 16:11 | Link to Comment magpie
magpie's picture

Dr. Evil sure knew how to teach people about inflation

Thu, 01/10/2013 - 16:45 | Link to Comment CPL
CPL's picture

I understand the Pixies of pixie villiage have upped the bid from one trillion bazillion dollar unicorns.

 

Rock solid...can't lose.

Thu, 01/10/2013 - 17:46 | Link to Comment toady
toady's picture

screw the martiins, the Japanese will trade you a quadrillion yen coin for 100 trillion dollar coins.

Fri, 01/11/2013 - 02:22 | Link to Comment TPTB_r_TBTF
TPTB_r_TBTF's picture

Be nice to the Martians! 

When they take delivery, treat them nicely!

 

from an FBI X-file:

 

A very serious situation may develop at any time with regard to the “flying saucers”. If one of these should be attacked, the attacking plane will almost certainly be destroyed. In the public mind, this might create near panic and international suspicion. The principal data concerning these craft is now at hand and must be offered, no matter how fantastic and unintelligible it may seem to minds not previously instructed in thinking of this type.

 

...

 

We give information and warning and can do no more. Let the newcomers be treated with every kindness. Unless the disks are withd-(illegible) a (illegible, illegible) with which our culture and science are incapable of dealing. A heavy responsibility rests upon the few in authority who are able to understand this matter.

 

DonT "screw the martians", or you risk upsetting the sheeple!

Misconceptions about the Galactic Federation need to be avoided!

Thu, 01/10/2013 - 19:00 | Link to Comment Tursas
Tursas's picture

Martian dictionary defines "inflation" as "envy"...

Thu, 01/10/2013 - 16:13 | Link to Comment Ghordius
Ghordius's picture

a friend was telling this story:

he had a long, long night flight with a lady next to him that was absolutely convinced that her country was going to solve all problems "because in the Treasury they have found one trillion platinum coins"

oh, and "I have no idea why didn't they look in the Treasury before - you know, there is a reason for the name"

Thu, 01/10/2013 - 18:23 | Link to Comment grid-b-gone
grid-b-gone's picture

Sadly, this will probably be the typical level of understanding of the average reset survivor. Those who understand and take steps to zag when official action zigs risk getting crushed. 

If you never stack, or prep, or resist, you will simply trade your old currency in for the new currency worth X % less, adjust the balances in your accounts held in electronic form, redo your budget for the paycheck hit, and go on with life.

Your shows will still come on at their same times, race cars will still run counter-clockwise, and your favorite beverages will still be brewed.

As Mr. White says, maybe stupid can't be fixed, but it is also so very simple. Why not go with it? /sarc off  

Thu, 01/10/2013 - 16:26 | Link to Comment Snakeeyes
Snakeeyes's picture

Dr Evil: 1 trillion dollars!

Only Martians would be dumb enough to listen to Krugman.

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

Thu, 01/10/2013 - 16:07 | Link to Comment fonzannoon
fonzannoon's picture

yesterday i heard Rick Santelli say "Ben Bernanke is a great American" and just now he emphatically said treasuries ard not in a bubble. WTF.

Thu, 01/10/2013 - 16:20 | Link to Comment bigdumbnugly
bigdumbnugly's picture

maybe someone palmed him a nice trillion dollar platinum coin, fonz.

everybody has their price.

Thu, 01/10/2013 - 16:54 | Link to Comment fuu
fuu's picture

Also he is on TV and wants to take our guns.

Thu, 01/10/2013 - 16:07 | Link to Comment Badabing
Badabing's picture

welcome you thing from another world you

Thu, 01/10/2013 - 16:09 | Link to Comment Big Corked Boots
Big Corked Boots's picture

Thank you for making me use a few brain cells that I thought had died of old age!

Thu, 01/10/2013 - 16:07 | Link to Comment AccreditedEYE
AccreditedEYE's picture

At this point, just mint the f-ing coin so we can get done with this crap... pretending like money has any value anymore.

Thu, 01/10/2013 - 16:29 | Link to Comment Buzz Hacksaw
Buzz Hacksaw's picture

The way I see it is they minted that coin around 2008. It's sitting under wraps up Bernak's ass_ets.

Thu, 01/10/2013 - 17:49 | Link to Comment Poor Grogman
Poor Grogman's picture

I will get the jeweler down the road to knock one up next week if I get a spare minute or two.

I reckon it will cost about two hundred for something passable.

It won't be overly large, but please realize that keeping costs down IS important.

Thu, 01/10/2013 - 16:12 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Sorry, but the Venusians have first dibs on any Treasury/Mint overruns.

<"However a large deposit can hold you place in line" - Krugman>

 

Thu, 01/10/2013 - 16:48 | Link to Comment CPL
CPL's picture

Not if the Sasquatch counter parties omit their standing on the commodities managing the affair.

 

If that doesn't happen the Smurfs and the Snorks will walk.

 

WALK I TELL YOU!  THen all HELL Breaks lose with no smurf bidders.

Thu, 01/10/2013 - 17:19 | Link to Comment knukles
knukles's picture

All this is making my testes painfully shrivel up inside my torso

Thu, 01/10/2013 - 16:11 | Link to Comment cougar_w
cougar_w's picture

No you dumbasses, Mars has no Platinum and they need about 100 coins worth of the stuff to energize their Earthblaster 2000 laser cannon.

Next, Krugman gets that invasion he's always going on about.

Thu, 01/10/2013 - 16:20 | Link to Comment Flakmeister
Flakmeister's picture

Actually its the Illudium Q-36 explosive space modulator

Thu, 01/10/2013 - 16:54 | Link to Comment cougar_w
cougar_w's picture

They can do it with Platinum instead of Illudium except it overheats a bit.

Thu, 01/10/2013 - 18:25 | Link to Comment francis_sawyer
Thu, 01/10/2013 - 17:17 | Link to Comment eaglerock
eaglerock's picture

Danger Will Robinson!

Thu, 01/10/2013 - 16:11 | Link to Comment JustPrintMoreDuh
JustPrintMoreDuh's picture

Holy Shit!  There's life on Mars!?

Thu, 01/10/2013 - 16:19 | Link to Comment LouisDega
Thu, 01/10/2013 - 16:36 | Link to Comment magpie
magpie's picture

It is life...just not intelligent life.

Thu, 01/10/2013 - 17:37 | Link to Comment SpanishGoop
SpanishGoop's picture

A planet inhabited soly by banksters ?

 

Thu, 01/10/2013 - 22:54 | Link to Comment NoClueSneaker
NoClueSneaker's picture

... definately .... Black Holes are just the cloaks for a Intergalactical Imperium Of TBTF Banksters .... ( we don't see a shit, and they're feeding on galaxies ).

Thu, 01/10/2013 - 22:00 | Link to Comment WmMcK
WmMcK's picture

That boy's as sharp as a bowling ball.

Thu, 01/10/2013 - 16:12 | Link to Comment Martin Silenus
Martin Silenus's picture

The Bernank is very angry...very angry indeed.

Thu, 01/10/2013 - 17:27 | Link to Comment NotApplicable
NotApplicable's picture

Oh, heavens to murgatroid!

Thu, 01/10/2013 - 22:57 | Link to Comment NoClueSneaker
NoClueSneaker's picture

... ugly politicians don't allow him to print his monthly trillion. Frustrating, indeed .....

Thu, 01/10/2013 - 16:12 | Link to Comment e_goldstein
e_goldstein's picture

Fail. You assume that anyone other than Earthlings are stupid enough to adopt central banking.

Thu, 01/10/2013 - 16:18 | Link to Comment Ghordius
Ghordius's picture

I beg to differ. central banking gives to the adopters a very big military advantage

of course if you also say that having wars is seriously stupid then I have to rest my case

Thu, 01/10/2013 - 16:13 | Link to Comment Buzz Hacksaw
Buzz Hacksaw's picture

Please advise the martian contingent that it's as good as done and add that we will keep it in our secure vaults for them. We promise.

Thu, 01/10/2013 - 16:14 | Link to Comment magnumpk
magnumpk's picture

Krugman won't go for it.  He wants war with the Martians.

Thu, 01/10/2013 - 16:50 | Link to Comment CPL
CPL's picture

Only after he writes a book nobody reads, fucks one of his grad students and the photos end up on facebook somewhere.

 

You have to time the deflection of bad news properly.  Goddamn martians.

Thu, 01/10/2013 - 23:35 | Link to Comment willwork4food
willwork4food's picture

They probably have WMD's. Invade!!

Thu, 01/10/2013 - 16:16 | Link to Comment Banksters
Banksters's picture

Is it true that the major ratings agencies believe there is in fact a market for US treasuries and that the fed is simply buying them to hold interest rates down?   

Fri, 01/11/2013 - 14:12 | Link to Comment Matt
Matt's picture

The penalty for failure to believe is imprisonment as a tax evading criminal.

Thu, 01/10/2013 - 16:20 | Link to Comment Sudden Debt
Sudden Debt's picture

somebody should mint 1 trillion silver 1oz bullion coins :)
I'd buy a few rolls :)

Thu, 01/10/2013 - 16:21 | Link to Comment azzhatter
azzhatter's picture

Why so hard on Krugey? He's just one of many fucktards, we actually elected most of them

Thu, 01/10/2013 - 16:23 | Link to Comment lunaticfringe
lunaticfringe's picture

Who do I make the check out to?

Thu, 01/10/2013 - 16:23 | Link to Comment Bunga Bunga
Bunga Bunga's picture

As the newly appointed ambassador of Alpha Centauri I have another good news for planet Earth and it's intelectual leader Dr. Paul Krugman. The government of Alpha Centauri will buy not only 100 legal tender platinum coins of the United States of America, but also all debt obligations of Earthian governments. The biplanetary negotiations will start next week, earth will be represented by Dr. Paul Krugman,  Alpha Centauri will by represented by his Excellency Ambassador Bunga Bunga of Alpha Centauri.

Thu, 01/10/2013 - 16:24 | Link to Comment gould's fisker
gould&#039;s fisker's picture

If the proceeds can go to a M-QE we may make it through 2025--go long Martians is probably our only hope.

Thu, 01/10/2013 - 16:26 | Link to Comment realtick
realtick's picture

Tell them they have a deal as long as they take Krugman as part of the agreement.

Thu, 01/10/2013 - 16:35 | Link to Comment butchee
butchee's picture

It is called the BIS....not the Martian Central Bank.

Thu, 01/10/2013 - 16:35 | Link to Comment Dr. Engali
Dr. Engali's picture

Why don't we just mint a 700 trillion coin and cover all of our unfunded liabilities?

Thu, 01/10/2013 - 20:55 | Link to Comment Temporalist
Temporalist's picture

I said the same thing the other day Dr. E.  Why not just mint up a few and buy the whole world?  GWP is about 70 trillion.  Just own the whole shit bucket...why pretend anymore that it's not like that anyway?

Thu, 01/10/2013 - 16:40 | Link to Comment debtor of last ...
debtor of last resort's picture

I've heard R2D2's liver was transplanted in the Bernanks body yesterday so he wouldn't blink when announcing QE23.

Thu, 01/10/2013 - 16:41 | Link to Comment ebworthen
ebworthen's picture

LOL!

Looney Tunes are making more sense than this ponziconomy.

"I'm going to blow up the Earth".

Please do, just start with Wall Street and Washington then wait a year and see if things don't get better down here after that.

Thu, 01/10/2013 - 16:42 | Link to Comment robobbob
robobbob's picture

Perhaps platinum doesn't exist on Mars. As such, by obataining some to put into the MCB reserve accounts, it will solve their current deficit issues, because the coins are actually worth One Trillion in Martian Bucks when they switch to their new metal backed currency.

Thu, 01/10/2013 - 16:43 | Link to Comment Nothing To See Here
Nothing To See Here's picture

Krugman must be puzzled now. On the one hand, Martians could buy his 1 trillion $ coins and stimulate the economy, but they could also invade us and still stimulate our economy. Which way to go OMG ?!?

Fri, 01/11/2013 - 14:16 | Link to Comment Matt
Matt's picture

The clear superior solution is, of course, both.

Thu, 01/10/2013 - 16:45 | Link to Comment Dr. Gonzo
Dr. Gonzo's picture

I have the $100 version of the U.S. Platinum eagle. It would take 10 billion oz of platinum to mint a 1 trillion U.S eagle trillion dollar coin.

Thu, 01/10/2013 - 16:47 | Link to Comment LoneuhRanger
LoneuhRanger's picture

Not to brag but I'm packing Amex Platinum.

How much for two doze T-coins? Engraving?

Thu, 01/10/2013 - 16:52 | Link to Comment DollarDive
DollarDive's picture

Instead of just one coin, why not issue every homeowner a coin that they can use to payoff their mortages.  This will solve the mortgage problem.  It will recapitalize our banks and at the same time free up future cash flows that can be used for more productive things like ramping the stock market higher instead of on interest payments.  This will insure that all Americans will have enough for retirement. Banks could then loan money to the Eurozone... and that would solve their problems... and they can then.....

 

This country has gone completely APESHIT !

 

Let's put Krugman's Face on one side and his asshole on the other.

Thu, 01/10/2013 - 18:34 | Link to Comment grid-b-gone
grid-b-gone's picture

In your plan, title to your house does not transfer to a member bank or hedge fund, and as such, is unworkable.

Thu, 01/10/2013 - 16:56 | Link to Comment John McCloy
John McCloy's picture

This sounds scary right...Wronggg
An Ivy league educated professor who is often vaunted as a potential Treasury or Fed Reserve chairman actually recently said to paraphrase." Nobel laureate economist Paul Krugman repeated his assertion this week that the United States could benefit economically if the government began pouring money into anti-ET defense in preparation for a possible alien invasion of Earth.
Even a faked war of the worlds scare might help, he suggested"
And this sums up Keynesianism. If you believe anything is past these people and ever doubt nearly any conspiracy that retains the status quo and enriches their buddies remember this moment.
They speak in terms of fear, theatrics and using their power and resources to consolidate while the rest of us speaking in historical basis and that which cannot be outrun.

Thu, 01/10/2013 - 17:22 | Link to Comment eaglerock
eaglerock's picture

When Krugman is asked why the stimulus isn't working, his answer is that 'we didn't spend enough'.  And I just got back from Las Vegas and I had no winnings because I didn't gamble enough.

Thu, 01/10/2013 - 17:47 | Link to Comment Encroaching Darkness
Encroaching Darkness's picture

+several hundred, with comp meals and an overnight room thrown in!

I was net positive on my Las Vegas gambling (trivial, slots at the airport & such) until about the third trip. The house does win, eventually, always.

Thu, 01/10/2013 - 18:25 | Link to Comment Acidtest Dummy
Acidtest Dummy's picture

Di'int you know, casinos are for losers.

Thu, 01/10/2013 - 19:19 | Link to Comment tip e. canoe
tip e. canoe's picture

with all due respect John, Reagan first brought up the subject in a speech to the UN way back when.   it's interesting though that the Kroog is putting it out there in the memescape now.    there's an increasing amount of discussion in the woo-woo world surrounding the "breakaway civilization" (even Catherine Austin-Fitts is mentioning it).   a skeptical mind might consider this all tinfoil, but considering that the Kroog keeps hammering away at the idea, i'm beginning to wonder whether there's fire behind the smoke...

Thu, 01/10/2013 - 17:03 | Link to Comment Overfed
Overfed's picture

Personally, I would like to offer a warm welcome to our new Martian overlords. And to say that I don't know these other people.

Thu, 01/10/2013 - 17:23 | Link to Comment knukles
knukles's picture

Wait, I'm in this with him....

Thu, 01/10/2013 - 17:03 | Link to Comment falak pema
falak pema's picture

Jules Vernes could have written this in his voyage to the center of of King Solomon's platinum mines.

Potus is the Wa-Tutsi warrior in charge of this new mine! 

Thu, 01/10/2013 - 17:21 | Link to Comment de Cosmos
de Cosmos's picture

Message begins --  We are the Borg.   The Central Bank of Borg hereby offers to buy 1000 of the coins.  You cannot refuse our offer.   We will add your biological, technological, fiscal and monetary distinctiveness to our own. Resistance is futile.  Prepare to be assimilated.   -- End of Message.

Thu, 01/10/2013 - 17:22 | Link to Comment ptoemmes
ptoemmes's picture

Marvin The Martian, please do not buy any Trillion Dollar Coins.  It will only delay the inevitable KABOOM.

 

http://www.youtube.com/watch?v=Ot73XFXagMw

Thu, 01/10/2013 - 17:46 | Link to Comment GreatUncle
GreatUncle's picture

Better pray for a martian trader / government to purchase your 1 trillion dollar coins.

The concept!

A single unified global economy is f%^ked because it has nobody to trade with external to itself and where all this is heading. The only thing left for the single unified global economy to do to survive is start devouring itself while pray for that wandering intergalactic trader to appear.

If I was a martian I would f^&k off out of this solar system because there are real s%^ts living on the planet next door called humans.

Thu, 01/10/2013 - 18:23 | Link to Comment BlackVoid
BlackVoid's picture

Central Bank of Mars? So Mars has a World Government? So the NWO guys have won there? No wonder they want to support the FED. They want to create the Central Bank of the Solar System.

Thu, 01/10/2013 - 18:24 | Link to Comment monad
monad's picture

Paul Krugman IS Peter Keating

Thu, 01/10/2013 - 18:40 | Link to Comment newengland
newengland's picture

Crookman is a shill, a propagandist ... just the sort much liked by Goebbels.

Thu, 01/10/2013 - 18:33 | Link to Comment Acidtest Dummy
Acidtest Dummy's picture

Imagine, if you would, that scientists in the USA invent the zero-point energy module; they isolate dark energy and monetize it. How long does this postpone the US bankrupture?

Thu, 01/10/2013 - 18:35 | Link to Comment alfred b.
alfred b.'s picture

 

      This trillion dollar coin idea is silly!  Why not just have the Fed open a 10 trillion-dollar Swap line with the Martian Central Bank...I'm sure these martians are just dying to get a piece of these here Union of States!

  Problem solved...somebody call Krugman!

 

 

Thu, 01/10/2013 - 18:38 | Link to Comment newengland
newengland's picture

This comment by Charles is the best chuckle from ZH since boating accidents became a new sport. Cheers.


'Many a true word is spoken in jest.'

 "Some truths, too painful or too likely to provoke, can be spoken only when the listener has been disarmed by laughter. A proverbial truth known for centuries, this notion was apparently first recorded by Chaucer with the line, 'A man may seye full sooth (truth) in game and pley,' from 'Canterbury Tales' (c. 1387). In 'King Lear' , William Shakespeare wrote, 'Jesters do oft prove prophets,' and some years later, essentially the modern version was rendered in the 'Roxburghe Ballad' (c. 1665): Many a true word hath been spoken in jest.."

From "Wise Words and Wives' Tales: The Origins, Meanings and Time-Honored Wisdom of Proverbs and Folk Sayings Olde and New" by Stuart Flexner and Doris Flexner (Avon Books, New York, 1993).

Thu, 01/10/2013 - 18:55 | Link to Comment laomei
laomei's picture

Sigh... get it through your thick skulls... money's not real.  It's not a thing, it's imaginary, it's made up.  It's worth something because someone with power says it is.  That's literally all there is to it.

Thu, 01/10/2013 - 19:15 | Link to Comment newengland
newengland's picture

Charles made that point, and you agree, apparently. It is a pity that the biggest fraudsters hide behind words like 'socialism', 'communism', and 'democracy' .... ably assisted by their 'dark knights', fellow bureaucrats in the main scream media and fake conservatives who also enjoy show time....at the expense of the majority and the minority who they exploit,  as per usual.

Gold, guns, silver, land and genuine community will thrive and prosper. All else fails. History tells us so. Long live the Republic of the USA, temporarily overtaken by new world order freak wannabes.


Thu, 01/10/2013 - 19:16 | Link to Comment laomei
laomei's picture

Thick skull as well I see.  In the end gold is a shiny metal with some interesting properties.  It only has a value because people decided it has a value.  

Thu, 01/10/2013 - 19:24 | Link to Comment tip e. canoe
tip e. canoe's picture

yes, on a certain level, i agree.    still, ever wonder why every human society throughout recorded history has valued gold above all else?   is there an interesting property that has yet to be 'discovered' by modern civilization?

Thu, 01/10/2013 - 19:48 | Link to Comment laomei
laomei's picture

monkey like shiny thing

it's easily divided, limited, requires effort to dig out, is easy to check for fakes.  In a world where trading with other nations requires similar systems, and most nations prefer gold on a weight basis, debasement is an issue to worry about.

it does not tarnish and is a soft metal which makes for easy crafting in high detail and has for thousands of years

 

There ya go, that's about it!  Silver tarnishes, platinum is relatively new, copper is common and reactive.

 

In the end it's just a single *thingy* that is a physical representation of a stored "value".  That's it, nothing more.  It's a "currency" which is NOT money.  A fancy monkey-invention.  Tons of things have been used in history to meet this "currency" purpose and there have been cultures which do not place a value on gold at all as anything important for trade.  It's just one step up from straight out bartering for goods.  Same thing as a tally stick.  I give you a sack of flour, you give me a piece of paper signifying that I sold you that flour.  I can use that paper to buy shit from you, or I can trade it to someone else who has a thing I want that you don't have.  It's a piece of paper signifying debt.  Gold is the same damn thing, just another form of it and in a world with paper money, there is an implied exchange rate as one is more scarce.

It's a social tool, which is governed by the acceptance of it by society.  If it's horribly broken and damaging to society, it needs to be rebooted.

Thu, 01/10/2013 - 21:35 | Link to Comment newengland
newengland's picture

Bow down to the genius among us. All heil 'laomei' who states the bleedin obvious as if it was new and shines.

Appoint yourself King of All, 'laomei'...the wannabe boy ruler.

Dim, and dimmer. Carry on....serving the Politburo of unabashed mass murderers in their own land,  and wage slave profiteers, serving the globalist corporatist fascists.

Nazis like willing slaves and cynics of your sort. No wonder your sort fear the people, the masses, and use force to keep them down, and you grifting off them. Fascist.

Fri, 01/11/2013 - 18:22 | Link to Comment are we there yet
are we there yet's picture

Iaomei, I dont care if multiple monkies like gold, but attractive individual women like the feel of gold on their skin from my experience.

Fri, 01/11/2013 - 02:35 | Link to Comment are we there yet
are we there yet's picture

Our Fiat is as good as our politicians word and honor. ..... Wait .... There may be a problem here...

Fri, 01/11/2013 - 07:41 | Link to Comment laomei
laomei's picture

It has nothing to do with the politicians. It's good as long as it's more or less universally accepted for trade within the borders of the nation and can be accepted for tax payments by the government.  It's IOUs on a worthless medium that are good for goods and services.  

 

United States coins and currency (including Federal Reserve notes and circulating notes of Federal Reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues."

 

As long as that stays in place, then that's all that matters.  A gold standard did nothing but make that medium of exchange into an object that carried some value in and of itself, that could be melted down and reused.  It also pretty much required a pegged value stating x grams of gold = x "dollars".  Unfortunately, this standard makes money in and of itself a scarcity, which is retarded when all that is required is a universally accepted placeholder for value.  Fiat allows for inflation as well, which means no, sorry, you can't just corner the market on cash.  They'll just print more.  And if you dump it all, they'll just retract it from circulation as it comes back in.  If you have any awareness of the bullshit that raged on under a gold standard, you'd understand this.

Fri, 01/11/2013 - 18:16 | Link to Comment are we there yet
are we there yet's picture

Iaomi, Yes, ZH readers know US fiat is a managed symbol of value by increasing and decreasing paper fiat in responce to money velocity and inflation goals.  The problem from roman days to the present is that politicians always, repeat always debase their fiat currency or coin (see nero silver cladding) over time because they can. All fiat over time fails. Usually rapidly at its end either by market forces, or like russia did not long ago by reissuing a new kind of ruble with fewer zeros. As an investor I bought pm gold at $1,000/oz and see it continuing to go up in years to come. I am betting that long term fiat dollars, yen, euro are going to be printed/created a lot faster than gold will be mined. Gold and pm is insurance against politicans doing what they cant help but do.

Fri, 01/11/2013 - 20:39 | Link to Comment helping_friendl...
helping_friendly_book's picture

So is time. What's your point?

Thu, 01/10/2013 - 19:04 | Link to Comment nmewn
nmewn's picture

This is as good as the ObamaFawn Lady...lol.

Thu, 01/10/2013 - 20:04 | Link to Comment Papasmurf
Papasmurf's picture

Has Goldman opened a new branch there?

Thu, 01/10/2013 - 22:57 | Link to Comment CheapBastard
CheapBastard's picture

Sorry, The Aliens are busy buying up all the Zombie Titles:

 

The Kellers are caught up in a little-known horror of the U.S. housing bust: the zombie title. Six years in, thousands of homeowners are finding themselves legally liable for houses they didn't know they still owned after banks decided it wasn't worth their while to complete foreclosures on them. With impunity, banks have been walking away from foreclosures much the way some homeowners walked away from their mortgages when the housing market first crashed.

 

http://www.reuters.com/article/2013/01/10/us-usa-foreclosures-zombies-id...

Fri, 01/11/2013 - 00:09 | Link to Comment willwork4food
willwork4food's picture

Jesus. Thanks for posting that CB.

Fri, 01/11/2013 - 02:30 | Link to Comment are we there yet
are we there yet's picture

A 1 trillion dollar collector coin that not even Bill Gates could buy is not a collector item by definition, unless someone decides to buy it. Otherwise I know of a billion dollar cat you can buy.

Fri, 01/11/2013 - 14:37 | Link to Comment Matt
Matt's picture

Ben Bernanke is the only one who needs to decide if he wants to buy it.

Actually, scratch that. The Social Security Administration, China and Japan could offer to "buy" it with the US government bonds they hold. 

Heck, Goldman Sachs could buy it by placing the highest bid at auction, then listing it as an asset, borrowing money against that asset, then using the borrowed money to pay for the coin.

Unfortunately, only bankers can do this, not mere mortals.

Fri, 01/11/2013 - 02:46 | Link to Comment monad
monad's picture

My father told me that God came to him and taught him secret things. He told my father that he gives us and our descendents Mars forever and ever. These rotten dirty yuppy Martians are trespassing. It is your obligation to God and to me the chosen people, to go up there and evict them. So what are you waiting for? Go get my planet for me, and maybe I'll rent you a place! Will this fishhead hat make you happy? Walk this way...

Fri, 01/11/2013 - 02:49 | Link to Comment Lord Of Finance
Lord Of Finance's picture

"TAKE ME TO YOUR LEADER"

Fri, 01/11/2013 - 06:40 | Link to Comment 100pcDredge
Fri, 01/11/2013 - 14:03 | Link to Comment nonplused
nonplused's picture

I'd buy some of the new "trillions" too for around $1,700 each.  Same as I buy $50 gold coins for $1650.  I think they'd be an awesome keepsake.

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