This page has been archived and commenting is disabled.

Ron Paul: “6,000 Years of History, Gold Is Always Money, Paper Money Fails”

Tyler Durden's picture


From GoldCore

Ron Paul: “6,000 Years of History, Gold Is Always Money, Paper Money Fails”

Ron Paul spoke with Bloomberg television and said that we are in a currency war and we have been for decades. He noted that governments have always competed against each other’s currencies even under Bretton Woods. It has always been a form or protectionism and will make people want to export more.

Dr. Paul said don’t blame countries like China and Japan just look at the debt the U.S. is buying. There will always be currency wars. The Bank of Japan claims it has to defend itself against deflation and decades of slow growth.

Ron Paul noted that the Bank of Japan’s yen devaluations will eventually lead to further price inflations that are to come. Investors and citizens will eventually reject the yen and switch to other currencies like dollars or Swiss francs.  Then eventually people will move to hard assets altogether as they are losing confidence in paper assets. 

Dr. Paul was asked, “Do you think protectionism will lead to a crash in the international monetary system? He replied, “Nothing good can come of it. Even short run trade benefits leads to a weaker economy and higher prices. It doesn't solve the problem they won't face the truth. That is that all governments spend too much money, there is too much debt and they get away with it by taxing people”.

“It seems that all we have is more debt, more printing money, and more government interventions. Governments won’t even talk cutting things. They only want to make slight decreases of proposed increases in their budgets!”

On the next U.S. Treasury Secretary, Jack Lew, Paul says, “We don't need an intervener.  He should have a strong dollar policy by defining it, and not by propping up the market. Don't devalue a currency. It is then that you hurt savers and cost of living goes up. This only damages the middle class and the poor no matter what welfare programmes you have because they lose purchasing power.”

Dr. Paul says that he feels the Obama administration is trying to devalue the dollar, they are very different then sound people and different then the Austrian economists. They feel debt is ok.

The interviewer noted that the gold standard has not immunized us from financial crisis.

Dr. Paul retorts, “If you look at it over several years it does maintain money. There were flaws with the gold standard, during wars, there were problems in the past and we understand so much more today and we could do better.”

“If you think we need a wiser Federal Reserve, central economic planning for the manipulation of credit, or a better Treasury Secretary, I reject that. “

After all, Ron Paul says for over 6000 years of history gold is always money and paper money fails. 

IMF Russia Gold in Million Fine Troy Oz, Monthly – (Bloomberg)

Russia buys gold to protect against “cataclysm with the dollar, euro, pound or any other reserve currency"

Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.

“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.

Gold, coveted by Russian rulers including Tsar Nicholas II and the Bolshevik leader whose forces assassinated him, Vladimir Lenin, has soared almost 400% in the period of Putin’s purchases. Central banks around the world have printed money to escape the global financial crisis, sapping investor appetite for dollars and euros and setting off a scramble for safety.

In 1998, the year Russia defaulted on $40 billion of domestic debt, it took as many as 28 barrels of crude to buy an ounce of gold, data compiled by Bloomberg show. That ratio tumbled to 11.5 by the time Putin first came to power a year later and in 2005, after it touched 6.5 -- less than half what it is now -- the president told the central bank to buy.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mon, 02/11/2013 - 11:10 | 3233193 EscapeKey
EscapeKey's picture

I thought the Keynesians had redefined history to "anything that's happened since 1971", ie, "US Treasuries have always historically been the safest asset".

Mon, 02/11/2013 - 11:19 | 3233230 Cognitive Dissonance
Cognitive Dissonance's picture

Yes........they have.

It's different this time. Really!

Mon, 02/11/2013 - 11:27 | 3233265 MillionDollarBonus_
MillionDollarBonus_'s picture

It just doesn’t matter how many times goldbug and silverbug lemmings get destroyed by a brutal collapse in the gold price or blowtorched by a “junior mining stock” – they always come back for more. Goldbugs and silverbugs show all the symptoms of addiction. They plow their life’s savings into shiny metal and junior mining stocks that just keep falling, and to fill the black hole in their wallets they indulge in fantasies of “financial collapse” and “monetary revolution”. They cling to the ridiculous idea that, simply by “stacking” these shiny bars of metal, they will be one day become kings of the universe. I’m afraid that precious metals cultists are in for a rude awakening. This IS a bubble. The gold market WILL collapse. I can’t say whether it will be a week or two months, but the collapse is coming, and goldbugs better brace themselves for a hair raising shock from which the doomer libertarian community may never recover.

Mon, 02/11/2013 - 11:29 | 3233277 EscapeKey
EscapeKey's picture

Well, it's a good thing I recently sold all my gold and invested it all in LinkedIn, Facebook, and Amazon. As you say, gold is clearly a bubble just waiting to pop.

Mon, 02/11/2013 - 12:06 | 3233364 francis_sawyer
francis_sawyer's picture

Gold is money because it's 'backed' by lead...


MDB [bent over & holding his ankles] is "backed" by Bernanke's 7 inch long 'Hebrew National'...

Mon, 02/11/2013 - 12:53 | 3233680 BaBaBouy
BaBaBouy's picture

US Has 7 Drones Constantly Tracking Ron Paul !!!

Mon, 02/11/2013 - 13:36 | 3233826 redpill
redpill's picture

Tin drones and Chris Dorner comin'

We're finally gonna see

This winter I hear the drummin'

4 dead at L.A.P.D.

Mon, 02/11/2013 - 13:49 | 3233870 BaBaBouy
BaBaBouy's picture

They Probably already have Dorner at CLUB WATERBOARD, Guantanamo ...

Never to be seen or heard from again...


Ahhhh, isn't it nice to live in the land Of The Free And Brave...


Mon, 02/11/2013 - 13:58 | 3233911 redpill
redpill's picture

Buy your own Predator Drone today!**


** Due process not included

Tue, 02/12/2013 - 00:44 | 3235789 kchrisc
kchrisc's picture

I've heard that he may be the drone equivalent of Sandy Hook.

Not sure on that, but Sandy Hook is definitely a false-flag.



Mon, 02/11/2013 - 12:59 | 3233698 Hippocratic Oaf
Hippocratic Oaf's picture

I think giving him 7 is too much credit.

Mon, 02/11/2013 - 13:40 | 3233844 redpill
redpill's picture

Might as well just round to the nearest $20.  They put bank-killer Jackson's pic on there just to piss on his grave.

Mon, 02/11/2013 - 16:42 | 3234001 EscapingProgress
EscapingProgress's picture

Ya, that was a low blow by the banksters.

Mon, 02/11/2013 - 11:48 | 3233376 eclectic syncretist
eclectic syncretist's picture

Are you shittin' me?  And you didn't buy any Salesforce (CRM), Priceline (PCLN) or Netflix (NFLX)?  You're just not getting diversified there Escape.  

Mon, 02/11/2013 - 12:28 | 3233591 gwar5
gwar5's picture

From your lips to Robotraders ears.


Mon, 02/11/2013 - 17:35 | 3234756 hmmtellmemore
hmmtellmemore's picture

Actually, Amazon is an amazing company that is basically crushing its online retail competition.  I wouldn't put them in the same sentence as Facebook.

Mon, 02/11/2013 - 11:30 | 3233282 Cognitive Dissonance
Cognitive Dissonance's picture

I just love it when MDB whispers sweet nothings in my ear.

Say it again MDB, say it again.

Mon, 02/11/2013 - 11:31 | 3233286 DoChenRollingBearing
DoChenRollingBearing's picture

$million, that's not the kind of thing I am reading from the brand new magazine American Hard Assets, which I just bought at Barnes & Noble Saturday.  That magazine is oriented to us friends of gold...

Mon, 02/11/2013 - 11:35 | 3233306 Whiteshadowmovement
Whiteshadowmovement's picture

amazing that a magazine whose business it is to sell as many copies as possible, will say things their target audience wants to hear...

Mon, 02/11/2013 - 11:41 | 3233345 forwardho
forwardho's picture

That Sir is capitalism at work.

+1 for the publisher knowing his target market.


Mon, 02/11/2013 - 11:43 | 3233356 Whiteshadowmovement
Whiteshadowmovement's picture

Absolutely right- there's a sucker born every minute and two to take him

Mon, 02/11/2013 - 12:47 | 3233654 A Nanny Moose
A Nanny Moose's picture

..and government is there to coerce the transaction. Bobody willfully participates in a transaction which is of no personal benefit. All value is subjective.

Mon, 02/11/2013 - 12:58 | 3233690 Whiteshadowmovement
Whiteshadowmovement's picture

yeah so true- all value is subjective- like what paying $7 for a magazine (with lots of ads on top of that), whose purpose is to reinforce your confirmation bias, your does for each of us...small wonder most other magazine circulations are declining...

Mon, 02/11/2013 - 13:14 | 3233747 Pegasus Muse
Pegasus Muse's picture

If you're having trouble with the video link above, try this one.  Worked for me:

Are We in a Currency War? Ron Paul on Bloomberg TV

Mon, 02/11/2013 - 13:21 | 3233767 Whiteshadowmovement
Whiteshadowmovement's picture

At least nobody's trying to charge $7 for it...

Mon, 02/11/2013 - 13:17 | 3233754 NidStyles
NidStyles's picture

Speaking of Confirmation Bias, I rarely if ever see you anywhere but attacking PM supporters...

Mon, 02/11/2013 - 13:22 | 3233764 Whiteshadowmovement
Whiteshadowmovement's picture

I also told people to buy AAPL at $435. Pms are just where I find myself on the opposite side from most ZH'ers so its the most interesting debate for me...(maybe I am missing something)

Mon, 02/11/2013 - 11:37 | 3233322 moonstears
moonstears's picture

MDB, will not "goldbug and silverbug lemmings", simply buy more at $1500, and $500, and $300, then? I mean, being "lemmings" and all. 

Mon, 02/11/2013 - 11:40 | 3233333 Nostradamus
Nostradamus's picture

You wouldn't know a bubble if it was tickling your nose. 

Mon, 02/11/2013 - 11:42 | 3233346 caconhma
caconhma's picture


A few years ago, I bought physical gold for $530/oz and now it is $1,650. What is your problem shill?

In one to two years, gold will be well over $3,000. Gold is not for trading unless you are a part of the Central Banking Mafia. It is for having physical and holding it.


Mon, 02/11/2013 - 11:44 | 3233362 Whiteshadowmovement
Whiteshadowmovement's picture

In all seriousness I am just asking- have you ever considered taking profits, it sounds like youve had a great run?

Mon, 02/11/2013 - 11:58 | 3233430 DoChenRollingBearing
DoChenRollingBearing's picture

NEVER sell your gold.  GIVE it to your children.

Mon, 02/11/2013 - 12:03 | 3233452 Whiteshadowmovement
Whiteshadowmovement's picture

This is actually a good point, if you really have this mindset, I think gold makes an excellent generational heirloom

Mon, 02/11/2013 - 12:56 | 3233686 TerminalDebt
TerminalDebt's picture

you're wasting money on children?


Mon, 02/11/2013 - 13:01 | 3233707 Ghordius
Ghordius's picture

eventually they grow up

Mon, 02/11/2013 - 12:02 | 3233443 I need more cowbell
I need more cowbell's picture

You honestly dont get it, do you? Once you exchange your fiat for a tangible good, you have at that point been paid in full ( for whatever labor you performed to acquire said fiat ). If you have more fiat than is necessary at a point in time to buy necessities, you exchange it for gold or some other store of value, for use in the future but only when required. Gold has historically been the most preferred SoV: fungible, transportable, universally coveted, doesn't oxidize, etc. Yes, I know your mindset, you're a trader and gold to you is just another buy low, sell high thingy. For truly wealthy folks, it is not, it is generational wealth, par excellence.

Question: you win a million dollars, but have to wait 10 years to collect ( lousy lottery rules, but at least you won ). You have a choice of any fiat you prefer; dollars; euros; yen, swiss francs to put in the ten year safe, or gold. What do you choose?

Mon, 02/11/2013 - 12:09 | 3233472 Whiteshadowmovement
Whiteshadowmovement's picture

No I do get it, I happen to think though that within the realm of hard assets, gold may be a medium term (perhaps 10 years as you mentioned) underpeformer. The above poster could theoretically book his 300% profit in gold and put it in another hard asset that has not appreciated quite as fast (land perhaps). And yes I do look it as a trader, so I think even stackers would be better off waiting a good deal longer until the Bernank is through crushing the price rather than just having the same "every dip should be bought mentality" that is no different from equity traders. 

To answer your question: I would really rather put art or antiques (of my choice) in that lottery safe (or even equities of my selection before any of your choices), but if its between those options or losing the prize, then my honest answer would be CHF

Mon, 02/11/2013 - 12:10 | 3233493 fuu
fuu's picture

"I would really rather put art or antiques (of my choice) in that lottery safe (or even equities of my selection before any of your choices), but if its between those options or losing the prize, then my honest answer would be CHF"

We call that the Simon Black method.

Mon, 02/11/2013 - 12:58 | 3233695 francis_sawyer
francis_sawyer's picture

Thanks fuu for finally pointing it out...


Whiteshadowmovement = Simon Black

Mon, 02/11/2013 - 13:04 | 3233696 francis_sawyer
francis_sawyer's picture

<== I want to hear Simon Black stories all day

<== I'd rather blow my head clean off with a Magnum

Mon, 02/11/2013 - 13:08 | 3233730 espirit
espirit's picture

I think I understand what you really mean.

Mon, 02/11/2013 - 13:10 | 3233734 Whiteshadowmovement
Whiteshadowmovement's picture

I kind of like Simon but I find myself disagreeing with him as often as not. Living and investing in Latin America, i have done a little of both, is not nearly what he makes it out to be, good luck if you ever find yourself in the grip of their court systems! Also, for my taste he is too bearish on the dollar and most of the advice he gives has little practical use.

Mon, 02/11/2013 - 13:28 | 3233790 francis_sawyer
francis_sawyer's picture

Make sure you 'diversify' into 9 million rand South African vineyards, swiss joobuck francs, & Renoirs to survive the coming apocalypse...


Me?... I'm just trying to acclimate myself to the taste of scorpions [which aren't actually that bad]...

Mon, 02/11/2013 - 13:34 | 3233822 Whiteshadowmovement
Whiteshadowmovement's picture

Well good luck witht that, but you make it sound like I only recommend the most expensive things on the planet, but Ive also mentioned plenty of things people can buy for less than 20 oz of gold. Anyway, you might not have to eat scorpions if you are willing to consider the idea of '"if you can't beat 'em, join 'em"

Mon, 02/11/2013 - 14:05 | 3233937 fonzannoon
fonzannoon's picture

whiteshadow all the people on this thread took their ball and went home, and they are happier that way. You keep ringing their doorbell and yelling for them to come back out and play. They ain't comin back.

Your main point is, hey, the market is a complete and total giant manipulated fraud. But a bunch of people higher up on the food chain who completely and totally don't give a shit about you, are intent on getting you to throw your money at their ponzi....which they have dumped on your head several times maybe you should throw your money into the ponzi again?

That is a tough sell here.

Mon, 02/11/2013 - 14:19 | 3233976 Whiteshadowmovement
Whiteshadowmovement's picture

Yeah tell me about it fonz, but you know what, the bottom line is really the ponzi didnt collapse and every day we get further away from March 2009, the odds of a near term collapse seem to be going down.

What in my opinion people are missing here is that gold, much as they all would like to think is exempt from this ponzi, is nothing of the sort, its just another button for the Fed to hit.

The truth is fonz, there is no taking your toys and going home, you can leave but the toys stay right where they are. Even these people who have been stacking their phyz will lose purchasing power, unless of course they really do accept it could take a long while to make it back.

Dude there really is a way for people to profit in this casino, and use zh to help them rather than just dig a deeper bunker, if only theyd be willing to
open their eyes and pay attention to how rigged the mearket really is.

Btw fonz, check out AGNCs and MTGEs conference callt from friday, if theres anyone who knows how to make money from the new normal its gary kain

Mon, 02/11/2013 - 14:42 | 3234071 fonzannoon
fonzannoon's picture

"Dude there really is a way for people to profit in this casino, and use zh to help them rather than just dig a deeper bunker, if only theyd be willing to
open their eyes and pay attention to how rigged the mearket really is."

This is from the ZH Janet Yellen article just now from Tyler(s).

"And there are those who wonder why we detest "central planned" attempts to attain a fake equilibrium more than anything. Luckily, now that the core driver of economic growth has failed just so a centrally planned administration can get 4 more years of "hope and change" it won't be much longer until the wheels finally and terminaly fall off the centrally panned bus tour."

How do you reconcile those two statements?

Mon, 02/11/2013 - 14:49 | 3234107 Whiteshadowmovement
Whiteshadowmovement's picture

Very simple, the bottom article is fully accurate except for the "won't be much longer until the wheels finally and terminaly fall off the centrally panned bus tour" which is nothing but wishful thinking. I now understand thats primarily why people come here, not to LEARN about the rigged market, but rather its like those cults where e cult leader predicts the end of the earth but has to adjust it every few years. Except here readers come to hear "tomorrow"

Mon, 02/11/2013 - 15:01 | 3234162 fonzannoon
fonzannoon's picture

when everyone has agreed the wheels will absolutely fall off and the only point of contention is when, that does not make the best etrade commercial.

People come here not to learn about a rigged market, they come here to realize the market is rigged. What they do from there is up to them.

Mon, 02/11/2013 - 15:07 | 3234186 Whiteshadowmovement
Whiteshadowmovement's picture

Lol, yeah as I said, once etrade starts taking ebt cards, thats the day the game is over. You knowmy thinking behind the welfare state providing lots and lots more extend and pretend:

PS- fonz, did you happen to see my last comment to you friday?

Hey fonz, this is my over and out, i just want to recommend one more film that came out this year that I would fucking love to recommend to you:

This documentary is a straight masterpiece fonz, its gets uclose and personal with David Siegel (timeshare king) and his family, right as they happen to almost go bankrupt. a great movie because what is so nicely illustrated is that this guy's comically grotesque fortune was built with the same cheap money that he uses to sell timeshares to people that can't afford them. And as soon as 2008 hits, all of a sudden his money spigot is cut off and he barely has the money to keep the lights on in his 20,000
sq. ft house...not to mention finish construction on is 90,000 sq. ft. mausoleum where good taste apparently goes to die. The whole of what this film accomplishes is an unbelievaably deep insight into the American financial system, though it wasnt the films original intent.

Try to check it out bro, if i recommend only 1 movie to you, this might be it:

Fonz, if you dont love this movie, I will buy you all the pizza and pints you want when you end up moving here. Seriously, i really hope youll give it a watch. Its the best movie on the financialmcollapse ive ever seen

Mon, 02/11/2013 - 15:10 | 3234197 fonzannoon
fonzannoon's picture

yeah I am planning on checking it out this week. Thanks for throwing it out there.

Mon, 02/11/2013 - 15:13 | 3234209 Whiteshadowmovement
Whiteshadowmovement's picture

Awesome bro, i am actually really looking forward to hearing what you think, i have a feeling youll love it...

Mon, 02/11/2013 - 15:13 | 3234211 Whiteshadowmovement
Whiteshadowmovement's picture

Awesome bro, i am actually really looking forward to hearing what you think, i have a feeling youll love it...

In a way it can sum up my whole argument better than i ever could in writing

Mon, 02/11/2013 - 15:11 | 3234201 fuu
fuu's picture

wtf would you link to a torrent?

Mon, 02/11/2013 - 15:15 | 3234220 Whiteshadowmovement
Whiteshadowmovement's picture

God cant you read, im trying to recommend a film to fonz and i included the link to reviews and the torrent where he can dowload it for his convenience

Mon, 02/11/2013 - 15:27 | 3234269 fuu
fuu's picture

"the torrent where he can dowload" the copywritten movie from a compromised file sharing site.

Bravo dude.

Mon, 02/11/2013 - 15:36 | 3234290 Whiteshadowmovement
Whiteshadowmovement's picture

hahaha you cant be serious- copyright infringement? Is this fightclub or are you a high school guidance counsellor? Theres nothing compromised about it, I downloaded the film at the same place (kind of hard to access movies otherwise in certain parts of the world) and hundreds of others without issues...

Mon, 02/11/2013 - 15:10 | 3234199 Whiteshadowmovement
Whiteshadowmovement's picture

Ps- i do think zh provides plenty of useful articles in helping people see how trade the system, especially when zh exposes how the algos are in control and how things like low volume dont seem to matter

Mon, 02/11/2013 - 12:10 | 3233494 I need more cowbell
I need more cowbell's picture

Kewl. It takes all kinds to make a world.

Mon, 02/11/2013 - 12:17 | 3233530 Whiteshadowmovement
Whiteshadowmovement's picture

yeah, i feel the same, nice talking and see you around

Mon, 02/11/2013 - 12:40 | 3233634 I need more cowbell
I need more cowbell's picture

Gotta love fight club, lol. you get junked on a " see ya round" salutation. Some people.

Mon, 02/11/2013 - 12:52 | 3233672 Whiteshadowmovement
Whiteshadowmovement's picture

yup, lol, and they did the same again- sometimes it feels more like a middle school playground than fight club...

Mon, 02/11/2013 - 12:59 | 3233702 francis_sawyer
francis_sawyer's picture

cept when you're around... Then it feels more like a Simon Black travelogue...

Mon, 02/11/2013 - 14:15 | 3233977 JimS
JimS's picture

White: I am not sure where you live, but I live in a farming heartland, and the price of farmland has appreciated 3 fold in the last few years. So what was your point with your post? Trading is not something that anyone should do now, just ask the MF Global account holders. Gold/siver, in your hand, is a good value. Period.

Mon, 02/11/2013 - 14:35 | 3234024 Whiteshadowmovement
Whiteshadowmovement's picture

Jim i know the prices of iowa farmland have tripled for example, but that really isnt true of all hard assets. Good forest land can be had relatively cheaply, as low as $800 per acres in many areas in NA. Ive also had a long discussion on the classic car market (where the appreciation is slower than gold in recent history but much steadier).

Lots of antiques also do well, antique guns for example hold eir value quite well depending on rarity and condition (much like any antique market)

Mon, 02/11/2013 - 12:14 | 3233516 Burr's 2nd Shot
Burr&#039;s 2nd Shot's picture

You mean by converting to silver or farmland?

Mon, 02/11/2013 - 12:19 | 3233545 Whiteshadowmovement
Whiteshadowmovement's picture

Yes, this actually is what I mean (though I would contend silver is much the same bet as gold), or art or antiques or even certain equities (i have a feeling SWHC might very well appreciate faster than gold over the next 6 months)

Mon, 02/11/2013 - 13:16 | 3233753 espirit
espirit's picture

I worked with an old Alabama boy that told me 'As long as they still make thutty eight pistols and gas stations, I'll never go back to farmin'.

Also, history is not kind to farmers governed by occupying forces.  That and the fact that you do not really own the land, or that it is a liquid asset.

Jeez, how naive. 

Mon, 02/11/2013 - 13:25 | 3233787 Whiteshadowmovement
Whiteshadowmovement's picture

Well if thats your mentality, then every square inch of this planet is held by one occupying force or another. You dont own the gold either according to that logic, sure it may be in your possession, but if the whole world is but an occupied planet, its going to be tough for you to do anything except "squat" on the occupiers land and carry your gold around in a briefcase handcuffed to your arm...

Mon, 02/11/2013 - 15:55 | 3234390 Bay of Pigs
Bay of Pigs's picture

WTF are you talking about? You don't seem well informed on gold or silver.

Mon, 02/11/2013 - 12:24 | 3233576 caconhma
caconhma's picture

I like to put my money in safe places, so, I can have a good night sleep.

Some people are afraid that Obama or any other scumbag might declare that holding gold is illegal. So what? Illegal just because some corrupt politician said so? WOW!

Booze was illegal in 1920s, and people did make good money on it because almost everybody used it. The same with drugs. Yes, they are illegal but people use it.

Only idiots who will giveaway their gold, booze, and guns to the government deserve their fucking misery!

Mon, 02/11/2013 - 12:47 | 3233655 Jack Sheet
Jack Sheet's picture

sell it for what?

Mon, 02/11/2013 - 17:42 | 3234782 hmmtellmemore
hmmtellmemore's picture

"In one to two years, gold will be well over $3,000."


Look dude, I'm a fan of gold hoarding as well.  But you are wrong.  In reality you will be waiting until 2020 until gold passes $3000.  That is still a decent store of wealth, don't get me wrong.  But I don't want you to delude yourself.

Mon, 02/11/2013 - 11:53 | 3233375 TWSceptic
TWSceptic's picture

from which the doomer libertarian community may never recover.


LOL. Despite the sarcasm I still have to junk or the newbies get confused.

Mon, 02/11/2013 - 12:03 | 3233455 LawsofPhysics
LawsofPhysics's picture

Isn't funny how an ounce of either gold or silver still purchases the same amount of just about any given commodity (you know those things you need to survive) as they did almost 100 years ago?  Bubble?  I think not.

Mon, 02/11/2013 - 12:07 | 3233471 narnia
narnia's picture

The gold & silver price will collapse in the next great margin call, along with everything else.

Mon, 02/11/2013 - 12:36 | 3233619 LawsofPhysics
LawsofPhysics's picture

Yet, a gram will still be a gram and still have significant purchasing power.  Some things never change.

Mon, 02/11/2013 - 12:48 | 3233662 Hongcha
Hongcha's picture

Yes Narnia and the chart tells the tale.  Smart PM traders, who have been up and down on the roller-coaster dozens of times since $260 oz., have seen this coming.

As always, we read here a mix of positions - traders who get in and out of the paper; and buyers of the hard metal - and both.

For the former, the handwriting was on the wall months ago.  As to the latter, it is a matter of indifference or should be.

You can have both intellectual positions (opinions, if you will) and still be correct.

Right now I would not touch the paper sector; it has fallen out of favor in the beauty contest and has more to fall.

I have my own shoebox collection at home, which I do not even remotely consider breaking out to recount, still less to sell.

No margin, no cry.


Mon, 02/11/2013 - 12:16 | 3233528 larz
larz's picture

HOLY SHIITE MDB!!!! I better start unloading THANKS for saving me from myself - run for CONgress got my vote

Mon, 02/11/2013 - 12:21 | 3233557 Jugdish
Jugdish's picture

What do gay guys like you invest in? Do tell.

Mon, 02/11/2013 - 12:26 | 3233581 lunaticfringe
lunaticfringe's picture

I realized that MDB has been right all along. I dumped all of my hard assets and junior miners. I bought all kinds of equities and Facebook after someone on CNBC said it was a screaming buy. 

I'm in MDB, thanks to you. Here's to DJ 15000 and more stimulus. Let the good times roll!

Mon, 02/11/2013 - 12:38 | 3233629 LawsofPhysics
LawsofPhysics's picture

So long as you are making predictions, what will a loaf of bread cost when the Dow hits 15K?  That sure is a lot of paper promises you have there...

Mon, 02/11/2013 - 13:05 | 3233721 RebelDevil
RebelDevil's picture

Your ignorance astounds me. - Sure "Gold is in a bubble, and it collaspe." .. eventually, that is after bonds collaspe first!

Anyone who's not a dumbass knows this: If you don't have precious metals after the bond bubble pops, you're fucked.

Mon, 02/11/2013 - 13:11 | 3233740 meghaljani
meghaljani's picture

Does US Government give you money to do this?

Mon, 02/11/2013 - 13:37 | 3233832 Watauga
Watauga's picture

MDB--Okay, "uncle!" I give. For what seems like years on ZH I have defended you as one who uses sarcasm in many of his posts to both make a point and make us laugh.  Well, you have now convinced me I was wrong, and I give.  You still make us laugh, but your point seems way off the mark.  In what universe does all the currency devaluation lead to the collapse of precious metals?  Answer: not this one.   

Mon, 02/11/2013 - 14:02 | 3233928 sgt_doom
sgt_doom's picture

Well spoken, MDB, and this entire post reads like a fundamentalist revival of religionist nutcakes!

It's not about the substances behind the currency, IT IS about the hierarchical control of it, the divine right of the banksters and private banksters to create money, i.e., the greatest entitlement program of all time, with untold riches going to those greedheads!

'Nuff said, doom out!

Mon, 02/11/2013 - 14:27 | 3234014 uplicidlit
uplicidlit's picture

Watauga, sgt_doom and all you other silly folk that can so easily be baited ---

My money says that Million Dollar Bonus = Tyler Durden .....providing counterpoint to his own articles and having a TON OF FUN watching you (ahem...cough,cough) otherwise intelligent people, fall all over yourselves in sputtering defensiveness.

Cool with me -- I enjoy the entertainment too.

(Tyler, thumbs up!)

Mon, 02/11/2013 - 17:41 | 3234775 orez65
orez65's picture

You are a mental retard or a complete shit head.

Brutal collapse? A 15% drop last year but an increase of $1400 per ounce since 2001!

Do you fucking know the definition of money, ass hole?

Read the "warning" on each and every dollar denomination: "This NOTE is legal tender for all debts public and private".

Dollars are PAPER, you shit head, signed by some asshole Federal Government bureaucrat.

Make sure that you save enough of them to wipe the shit off your brain.

Mon, 02/11/2013 - 11:43 | 3233295 caconhma
caconhma's picture

I wish Ron Paul retire (he can take his Christian Zionist son with him) for good. He is just another "old timer" seeking publicity and a spotlight.

When the time came to be a man, he just “faded away” instead of indorsing independent candidate Johnson.  No, he did not want to upset the GOP establishment. Now, the old man will go for a pay-for-appearance speaking tour.


After all, there is no way to teach an old dog to new tricks.

Mon, 02/11/2013 - 11:56 | 3233425 lotusblue
lotusblue's picture

Paul crackpot he is,really must leave the stage.His fear mongerring,Birchers psychosis has been appealing to weak minds.The simpleton solutions Paul preaches entirely ridiculous when looked upon depthfully!

Mon, 02/11/2013 - 12:05 | 3233463 narnia
narnia's picture

If you believe the governments of the world aren't shilling out far too many promises they can't keep, setting up an inevitable global crisis, you are the weak mind.

Mon, 02/11/2013 - 13:14 | 3233736 Shell Game
Shell Game's picture

Channeling Yoda, he is..  

Dipshit Leftists like caconhma and lotusblue will never understand the systemic problems we face. These weaker hands look to boob-tube propaganda for guidance.  In the meantime, they're gonna garmmar, err, grammar the shit out of us.....

Mon, 02/11/2013 - 12:30 | 3233600 Obama4Ever
Obama4Ever's picture

Testify! I really hoped once Congressman RP was no more we'd never hear from him again. Go gently into that good night, you old goat.

Mon, 02/11/2013 - 13:41 | 3233846 Watauga
Watauga's picture

Barack Hussein Obama himself.  After all, the moniker is Obama4ever.  And the photo is all Obama.  Surely no human being on this planet, other than Obama himself, would use that moniker or photo.  Any one who did would be, of course, a disciple of his false god.  And that would be, well, just sick.

Mon, 02/11/2013 - 13:10 | 3233738 bernorange
Mon, 02/11/2013 - 16:11 | 3234464 jonan
jonan's picture

personally, 2008-2012 were the years of gold and silver

2013 and beyond will be the years of hollow points and lead...

i pity the fool who hasn't been buying either for the past 5 years...stack and pack bitches...

Tue, 02/12/2013 - 03:29 | 3235997 All Risk No Reward
All Risk No Reward's picture

"Keynesians" don't practice Keynesianism.  That's a false narrative designed to sucker in those with establishment gobemouche tendencies and to fool those who realize it can't work into thinking their paradigm is wrong.

These people are *criminals*.

Their one aim is simply moar for them and less for you.  They want to run the world and treat you like a Dark Ages serf...  or worse.  Remember all those torture devices in the castle basement? 

Easy access.  And guess what kind of world they are re-creating...

These people lie about everything.  How's that "Affordable Care Act" working out for ya?  Oh, yeah, the establishment gobemouches are taking it hard and heavy - the chumps.

The New World Order is easy to define...  they are liars...  Just review history at the Old World Disorder.

These criminals are authoritarian criminals.

Their power exists only because we don't call them out.  I do - almost every time I post.

How come so few others do?  I don't mean, "Bernanke's dumb."

No, he's smarter than you and ripping off your community's face while conning the masses that he's working for the masses.

Bernanke is a front puppet for the Debt Money Tyrants who want to run your impoverished community like "Work is Freedom."

Debt Money Tyranny

Mon, 02/11/2013 - 11:12 | 3233204 Mongo
Mongo's picture


Age of men is over

Time of thr bankster has come

Mon, 02/11/2013 - 11:17 | 3233226 LasVegasDave
LasVegasDave's picture

A box of Lake City .308 will fix that

Mon, 02/11/2013 - 11:23 | 3233240 redpill
redpill's picture

I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify bankers and I realized that they're not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment but bankers do not. They move to an emerging market and then enslave the people with debt until every human is a serf and the only way they can survive is to spread to another market. There is another organism on this planet that follows the same pattern. Do you know what it is? A virus. Bankers are a disease, a cancer of this planet. They are a plague and gold is the cure.

Mon, 02/11/2013 - 11:30 | 3233280 inevitablecollapse
inevitablecollapse's picture

the only 'cure' is a removal from the host.  i agree with the precept that bankers are a virus, but as with any virus, you can innoculate but still run the risk of infection. the best way to pre-emptively cure one self of a virus is an eradication.  unfortunately, this virus is a hardy one and is quite virulent.  

Mon, 02/11/2013 - 11:36 | 3233294 forwardho
forwardho's picture

Very fitting analogy.

Indeed a virus's success is based on the speed withwhich it kills its host.


Mon, 02/11/2013 - 11:45 | 3233309 Shell Game
Shell Game's picture

In biology, a well evolved parasite does relatively little damage to the host.  It's when parasites cross species, or encounter an immuno-compromise host, that disease becomes dramatic and totally destructive. 

This supports your observation that bankers are not human - they are poorly evolved parasites.  They are more vile than a cross-species disease.  They are evil.  Yes, gold is their bane and our cure..

Mon, 02/11/2013 - 11:58 | 3233435 eclectic syncretist
eclectic syncretist's picture

Welcome to the mind of the gangsta banksta!


Mon, 02/11/2013 - 12:23 | 3233573 gwar5
gwar5's picture

I was sidetracked by the nictitating membranes. 


Mon, 02/11/2013 - 11:29 | 3233271 Shell Game
Shell Game's picture

"Because gold is honest money, it is disliked my dishonest men." -Ron Paul, The Case for Gold

Mon, 02/11/2013 - 11:15 | 3233216 Sudden Debt
Sudden Debt's picture



Lookup 'Magdalene Laundries' and see that the church kept on doing it untill 1996

Mon, 02/11/2013 - 11:19 | 3233232 TheCanadianAustrian
TheCanadianAustrian's picture

And why 6,000? Was gold and silver not used 10,000 years ago?

Mon, 02/11/2013 - 12:01 | 3233394 Haole
Haole's picture

It probably was but "science"and the establishment that controls information on this planet only has the ability and finds it necessary to lie about and bastardize our history going back 6K years. It's like an archeological attention span that fails even in it's brief snapshot in time. Do you think they actually want people to know humans have been on this planet for hundreds of thousands, perhaps millions of years (among other things)? I'm sure there's many on ZH who find this preposterous thanks to a lifetime of programming and brainwashing too.

Like how we've been led to believe, and many somehow hold this to be truth somehow, that all or most the crude oil on the planet comes from rotting lizards and seaweed. Utterly and absolutely ridiculous. For those morons I present the little red arrow up and to the left, go nuts. Utterly and absolutely ridiculous yet driven into us as "truth" since we're old enough to be duped.

Epic failures abound in this day and age but thank god failure is now success, for individuals to governments alike, otherwise we all might be in a bit of a spot...

Mon, 02/11/2013 - 12:05 | 3233462 Rusty Shorts
Rusty Shorts's picture


Mon, 02/11/2013 - 13:04 | 3233716 Tsukato
Tsukato's picture

Good to hear from someone with some insight. It's possible humans have been here for 100s of millions to even billions of years. there's tons of archaeological evidence to support this. Even proof that the Mahabharata is not just a fairy tale, and that nuclear weapons may have been used in the past, and radiation is still registered on radioactive hotspots in India, Libya, and Egypt. There's even a fair amount of proof that humans lived at the same time as dinosaurs, and may have even been created in prehistoric labs by humans at that time.

Mon, 02/11/2013 - 13:15 | 3233751 LawsofPhysics
LawsofPhysics's picture

Right, how about some links to all that peer-reviewed information.  I won't hold my breath.

Mon, 02/11/2013 - 13:29 | 3233803 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Science flummoxes some people...

Mon, 02/11/2013 - 13:45 | 3233848 Haole
Haole's picture

Classic example - AGW/Anthropogenic "Climate Change"

Sciganda, sci-ops and scigendas. Truth has nothing to do with it.

Mon, 02/11/2013 - 13:48 | 3233871 LawsofPhysics
LawsofPhysics's picture

Links to any of your "truths" might give you some credibility.  In the meantime, I'll believe my own eyes and hedge accordingly.

Mon, 02/11/2013 - 14:10 | 3233918 Haole
Haole's picture

I never claimed to know the absolute truth, only that much of what we've been programmed to believe all our lives is, to one extent or another, either not as it seems or bullshit altogether. Science has provided great advances for our species but it has also acted clandestinely and been used as a mechanism of profitable psychological and physical control bordering on and not unlike religion itself. Again, classic example, AGW/Anthropogenic "climate change". Religion under which suckers can enslave themselves. If you care to argue that then I'm sure you can do it without me...

Mon, 02/11/2013 - 14:12 | 3233961 Shell Game
Shell Game's picture

The problem I have with the anti-science movement, for lack of better words, is that it is very similar to the anti-gun movement:  a few criminal uses of it and it/they all should be banned.  

Mon, 02/11/2013 - 14:49 | 3234075 Haole
Haole's picture

Black, white, all, nothing...

Who said anything about "anti-science" as if all science is incorrect or dangerous and/or a "conspiracy"? That's just absurd.

It must suck ignoring or being oblivious to 99.9% of the spectrum of possibilities between the extremes as much of the population seems to be... That's nothing but extremism and fanaticism by definition.

Mon, 02/11/2013 - 14:09 | 3233950 Shell Game
Shell Game's picture

If some science is built on fraud, all of it must surely be..  Scigenda - you have a serious case of it.

Mon, 02/11/2013 - 14:13 | 3233959 Haole
Haole's picture

Oh, black or white, simple as that eh?

Glad to see my comments are attracting the real sensible geniuses at ZH, terrific...

Mon, 02/11/2013 - 14:14 | 3233971 Shell Game
Shell Game's picture

And real genius falls back on unreferenced statements of 'fact', ad hominems and Alinsky tactics, eh?  :^)

Mon, 02/11/2013 - 13:18 | 3233756 edifice
edifice's picture

Damnit, where's that picture of Jesus riding a pterodactyl?

Mon, 02/11/2013 - 13:18 | 3233759 Shell Game
Shell Game's picture

Please, please tell me there is a /sarc tag there somewhere..


Mon, 02/11/2013 - 13:27 | 3233795 espirit
espirit's picture

No sarc tag required.

It's obvious most prehistoric humans ended up as dinosaur poop.

Mon, 02/11/2013 - 14:59 | 3233833 Haole
Haole's picture

To think, your cars could currently be running on the rotted remnants of those "prehistoric" humans. Delusional Crude Soylent Green, bitchez...

Mon, 02/11/2013 - 13:43 | 3233856 Watauga
Watauga's picture

Better watch out.  Some high church Darwinians may execute you.

Mon, 02/11/2013 - 13:20 | 3233762 LawsofPhysics
LawsofPhysics's picture

Oh do tell us all where this magical oil spicket is?  I have many tractors that run on reduced hydrocarbons, and can not wait to back up to this source of oil appearing out of nothing.  I hope it appears faster as the population is still growing. Yes please there are no limits to anything, no biological cycles, Unicorns and skittles for all!

Must be my lying eyes then.

Mon, 02/11/2013 - 13:57 | 3233905 Haole
Haole's picture

Nobody in their right mind would claim that planetary resources of any kind are literally limitless but as Faulkner mused "facts and truth really don't have much to do with each other.”

Perception is everything and potentially nothing, our entire modern civilization has been built to excess on preventing eyes and ears from seeing and hearing truth in many regards.

Mon, 02/11/2013 - 14:17 | 3233982 LawsofPhysics
LawsofPhysics's picture

Indeed, wake me when you present some, facts that is. In the meantime, I have work to do, enjoy your mental masterbation.

Mon, 02/11/2013 - 15:00 | 3234037 Haole
Haole's picture

Sorry to interrupt your day, you seem to have quite a lot of time to post your brand of usually condescending mental masturbation all over ZH so I'm so sorry you have to avoid more.

Where would the world be if people ignored everything other than working the soil. Dismissed ideas outright and resisted any flexibility whatsoever in their ideology and/or established knowledge base..?

Descendants of the people that were laughing at the Wright brothers before they flew seem to be everywhere and coincidently folks like these are pretty sure they know the truth of it all. Fancy that...

Mon, 02/11/2013 - 16:12 | 3234468 LawsofPhysics
LawsofPhysics's picture

The question is not whether or not the wright brothers were innovative or not, they were.  The question is whether or not you are or if you have anything of significant intelligence to add..

So far, nada...

Mon, 02/11/2013 - 16:42 | 3234492 Haole
Haole's picture

I thought you had to get back to work a while ago, posting in threads on ZH ever since... A mental jerk-off addict and an intellectual descendant of ignorance incarnate avoiding any idea that clashes with his belief structure... Beautiful, good for you. Oh but you have to get back "to work" again, right?

My point had virtually nothing to do do with how innovative the Wright brothers were but more so the utter ignorance and ridicule inflicted on them by people that wouldn't allow an original or imaginative thought if their life depended on it. Hmmm, sounds familiar eh?

Don't change the subject or the context to suit your own personal agenda of ridiculing me simply for posing ideas which may or may not be true even as far as you know, or more accurately, don't know.

Mon, 02/11/2013 - 13:24 | 3233783 dick cheneys ghost
dick cheneys ghost's picture

Rockefeller net worth a 'state secret'...............fossil fuel my ass.........

Mon, 02/11/2013 - 12:51 | 3233668 Canucklehead
Canucklehead's picture

How did those 17 Jews get those millions of slaves out of Africa?  Did a few little guys show up on the coast of Africa and everyone on the continent realized the "gig" was up?  Was the "Hava Nagila" hypnotic and exotic enough that the locals could not get enough?  Did a few notes cause the populations to march into the boats and head off to the new continent?

Do the Zionists really have that kind of power? 

If they did then, do they still have that power now? 

If they lost that power, how was that accomplished?  Is there anything we can learn (assuming you have a national IQ above 89) to apply to the situation as we find it today?

If they didn't lose that power, what can we try that hasn't been tried before?

Mon, 02/11/2013 - 12:53 | 3233678 Canucklehead
Canucklehead's picture

I forgot to mention that Ron Paul is a douche of the First Order.  After what he said about Chris Kyle...

Ron Paul wanted to be President?  What a joke!  Ron Paul could not make a decision if someone's life depended on it!

Mon, 02/11/2013 - 14:19 | 3233989 Renewable Life
Renewable Life's picture

Ron said the guy "lived by the sword, and died by the sword" it's the fucking truth, get over your rah rah, we "kill the bad people in the name of" bullshit!

I have no problem with Chris Kyle, he was a hired killer, for the US government, and he did his job better then all the rest! His killing was celebrated by you and others, as his duty or some shit! But the rogue cop in LA is also a killer, his targets are NOT sanctioned by the government and its minions of brainwashed idiots, therefor he is a terrorists and a murderer! Both the same man, one profits from his killing, (books, tv, contracts, movie deals) the other is targeted by the system, because he attacks the system, not the governments enemies! The rogue cop would have loved to be Chris Kyle, but fate (and probably a level of skill) wouldn't have it!! But both, still the same man! And if your sorry rah rah bullshit ass doesn't think, Chris Kyle wouldn't have done the same thing to government "agents" if they were attacking him or taking his livelihood, your fucking delusional!

Attacking RP for pointing this out or anyone else for that matter, makes YOU the fucking douche!

Tue, 02/12/2013 - 13:56 | 3237126 Canucklehead
Canucklehead's picture

Ron Paul is a douche of the first order.  If he thinks in any way as you state that you do, Ron Paul is also a douche of the second order.

Mon, 02/11/2013 - 14:56 | 3234140 Haole
Haole's picture

Whoever down votes you for posting this is a bona fide fucking tool... Step right up ZH, I know there's at least a few more of you out there.

Mon, 02/11/2013 - 14:06 | 3233938 Not Too Important
Not Too Important's picture

Why does everyone pick on the 'Jews'? They are no more guilty than any other 'religious' group for evil commiitted by a few.

The Rothschilds didn't care that the Holocaust occured, as long as they made money. They were content to let millions of their own die.

The money they spend on Israel is blood money. But they'll make more trillions financing both sides of the massacre of Israel yet to come, as the NWO has clearly shown their allegience to violent jihadist Islam, through the Muslim Brotherhood.

The evil of a few, does not make the rest guilty.

Mon, 02/11/2013 - 15:02 | 3234150 Haole
Haole's picture

The question you might want to ask is why do people still generally confuse Zionists with Jews by definition?

Mon, 02/11/2013 - 11:25 | 3233253 EscapeKey
EscapeKey's picture

Corrections Corp of America.

Mon, 02/11/2013 - 11:17 | 3233227 Cognitive Dissonance
Cognitive Dissonance's picture

"Heretic. Burn the bastard at the stake." - Bernanke

Mon, 02/11/2013 - 11:18 | 3233228 Squid Vicious
Squid Vicious's picture

maybe the hot blond chick can be RP's becky quick?

Mon, 02/11/2013 - 11:19 | 3233231 dick cheneys ghost
dick cheneys ghost's picture

Fuck you rothschilds

Mon, 02/11/2013 - 11:20 | 3233235 moonstears
moonstears's picture

I hear people say "I bought gold at $300, or $700 or $900, wish I'd bought more". Wonder If "I bought at $1700, wish I'd bought more" will be said?

Mon, 02/11/2013 - 11:22 | 3233245 Hulk
Hulk's picture

You Betcha !!! (read in your mental "Fargo" voice)

Do NOT follow this link or you will be banned from the site!