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Even Professional Wrestlers Understand "The Fed Is The Enemy"
When 325lb WWE/WWF Professional Wrestler "Kane" speaks, one tends to listen and so when Glenn Thomas Jacobs addresses the reality of the Fed and the actions of the Jekyll-Island-created "entity" the world should perhaps pay attention. When an admittedly eloquent giant of mass media explains discusses "our enemy the Fed," and the tasks facing Americans, we hope (for 2 brief minutes) the message gets past the Miley Cyrus headlines...
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The last ride, indeed.
[Insert fed audit here to learn how soylent dollars are created]
Audit the Fed, abolish the Fed, end the Fed.
fuck the audit...lets smash them with a chair, than a pile driver than....
This 325lb wrestler is more eloquent than dear leader and obviously more sincere. Perhaps we can get the WWE to arrange a death match between the two...
Who would have thought...
http://www.youtube.com/watch?v=-bWJwJr-R68
Barry would shat himself at the mere thought of facing a "Real Man"
Rand Paul says no Yellen without an "Audit the FED Bill". Let's see if he can muster the votes to enforce it?
I wonder what Kane's brother, the Undertaker, has to say about all this?
Probably not a whole lot, as Kane is clearly the intellectual of the family.
but he comes in his pants at the thought of facing away from a real man. A real man who likes to screw other man. So, not so much a real man but, you know
After watching that video, this blast from the near past popped up:"Peter Schiff Owning Everyone's Ass on C-Span"
http://www.youtube.com/watch?v=YW9f2KsyaOI
Crankin´ vid!
The BIGGEST SCAM in the history of mankind indeed!
http://www.youtube.com/watch?v=iFDe5kUUyT0
i am shocked at the level of awareness on the fed. when my mom, pro wrestlers, and the heads of big asset managers start complaining about QE you know we are fricking doomed.
There are a lot of pretty smart pro wrestlers, contrary to popular perception. People make a lot of fun of Jesse Ventura, but he didn't get to be a state governer by being totally stupid. Plus he knew before most that the fed was evil, and informed a lot of people via his radio show. Or at least, he informed people who could see past the persona he projected, which wasn't very serious until he ran for office (and not really even then).
Well said. I remember hearing a similar quotable thing in the last year or two by somebody, maybe it was James Grant? I can't remember, but it was about how awareness and at least cursory level knowledge of the Fed has become very mainstream and well known. It was pointed out that in no other time that anybody else can remember was "The Federal Reserve" even uttered by anybody, because nobody simply cared. I tend to agree with you, that that in it of itself is the "masses" becoming aware of whats coming, and generally I'd say the masses don't become aware, till its real.
i am shocked at the level of awareness on the fed.
The times, they are a-changing. Slower than we'd like, perhaps, but definitely changing.
About 4% of people do most of thinking for everyone, IMO. Early adopters, in marketing speak.
The American Revolution was fought by about 5% of the populace.
The civil war wasn't. Quite a bit more than 5% I might say.
Wish I could see the video, no link no nothing.... Black box.
WGAS anyway probably 10 minutes of ads then 30 seconds of WWE spokesman ads. Whatever.
Over.
http://mises.org/
I see what you did there. Are you saying "You didn't miss a thing" misses.a.thing.org??
Good one. lol
Over.
Just for being stupid.
Edit: And not funny.
That hurt big time bro. You got me. Ouch. I'm tapping out over here.
Over.
i linked another location where the video was posted
as i thought, from your comment, you had a problem viewing it here;
i did nothing else as far as i can tell.
disclaimer: my comments and or links are not to be taken as
promotional in any way, merely potential educational offerings.
i believe whole heatedly in the sanctity of the conscious and
unconscious human, and otherwise, mind, body and spirit;
interdependent and glowing truth eternal!
that is what i meant to do and i thank you for making me
say it.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I got it thanks. Mine was just commentary that Tyler alienates a large portion of the audience by not including a link to the medium (audio, video, text, scribd and whatnot).
Many of the audience members would prefer to download the youtube video through a proxy using a service like keepvid.com in order to bypass the google-spy apparatus in place at youtube or cnbc or whatnot.
Many of us do not want to be part of the new American dream but we're being forced to participate or be left in the vacuum.
Thank you for your efforts to redirect me.
Over.
I'm sorry, could you repeat that?
"...waste not want not, pick it up and eat it." c.h.
.
Pretenders Waste Not Want Not
http://www.youtube.com/watch?v=UkL9SwhuDQQ
.
Pretenders Waste Not Want Not Lyrics
Songwriters: HYNDE, CHRISSIE
.
Take, take, take, takin' what you don't need
You'll get, get, gettin' what you don't need
Stand back, take a look and take heed
All the children in god's kingdom bleed
See the networks of concrete and steel
They've no mystery but what they reveal
Tells a story of a future that's void
Of the beauty and the majesty that life on
Earth is meant to be
Talk, talk, talk, talk about the government
And not a word about political favour
Everything touched is my political choice
The life you take is your political voice
The sacred cows come crashing to their knees
Golden harvest reaped without intelligence
There's no chance between the heavens and the seas
In a blood bath don't laugh
Grab your piece of golden calf
Waste not want not pick it up
Waste not want not pick it up
Waste not want not pick it up
Waste not want not
Do unto others as you wish be done to you
There's a million lies 'round everything true
You slaughter when you feast
You disrespect the beast
Make our beds and lie there, take your share
Waste not want not pick it up
Waste not want not pick it up
Waste not want not pick it up
Pick it up and eat it
Waste not want not
.
while we're here ...
http://www.youtube.com/watch?v=STy8FWhQPwU
Try this: http://www.youtube.com/watch?v=iFDe5kUUyT0
and this !
.
An adorable baby breaks down in tears as her mother sings Rod Stewart classic My Heart Can’t Tell You No.
http://metro.co.uk/2013/10/29/video-emotional-baby-cries-as-mother-sings...
*tears shedding, bald eagles flying in the background, epic metal playing*
That was beautiful. Who doesn't want to listen to that guy tell you stuff!?
It would be MUCH more effective, if he had been in his Wrestler Persona, and after winning a match, he would have said. Kill the FED.
It would have gotten to the people that need to have this information, the next generation of kids, and couch potatoes...
double post due to fucking flash player crashing due to ads...
I replied to the post below from Macho Man, who changed its contents in the version above while I was writing this:
That is an ironic comment coming from a Macho Man. Actually the best professional wrestlers are superb athletes, who understand the following as the basis of the show they put on for the public, which is a totally appropriate metaphor for comparing the financial world, and their puppet politicians, to professional wrestling:
http://en.wikipedia.org/wiki/Kayfabe
In professional wrestling, kayfabe is the portrayal of staged events within the industry as "real" or "true," specifically the portrayal of competition, rivalries, and relationships between participants as being genuine and not of a staged or pre-determined nature. Kayfabe has also evolved to become a code word of sorts for maintaining this "reality" within the realm of the general public. Kayfabe was long held as a closely guarded secret within the professional wrestling industry; however, with the advent of the Internet, it has evolved into an open secret in the industry that is generally only adhered to during shows.
Kayfabe is often seen as the suspension of disbelief that is used to create the non-wrestling aspects of promotions, such as feuds, angles, and gimmicks, in a manner similar to other forms of fictional entertainment. In relative terms, a wrestler breaking kayfabe during a show would be likened to an actor breaking character on camera. ...
It was commonplace for wrestlers to adhere to kayfabe in public, even when outside the ring and off-camera, in order to preserve the illusion that the competition in pro wrestling was not staged. This was due in no small part to feuds between wrestlers sometimes lasting for years, and which could be utterly destroyed in seconds if they were shown associating as friends in public, and thus potentially affect ticket revenue.
With the advent of the Internet wrestling community, as well as the sports entertainment movement, the pro wrestling industry has become less concerned with protecting so-called backstage secrets and typically maintains kayfabe only during performances.
It is interesting how the Internet forced a transformation of the degree of kayfabe that could still be maintained. It is an open question whether our civilization will survive long enough for the "Internet Reformation" to enable its potential, like the invention of the printing press (only more so), to more fully develop? Way more people, because of their use of the Internet, are becoming aware of the degree of kayfabe in the financial world!
http://www.edge.org/response-detail/11783
Kayfabe
By Eric R. Weinstein
The sophisticated "scientific concept" with the greatest potential to enhance human understanding may be argued to come not from the halls of academe, but rather from the unlikely research environment of professional wrestling.
Evolutionary biologists Richard Alexander and Robert Trivers have recently emphasized that it is deception rather than information that often plays the decisive role in systems of selective pressures. Yet most of our thinking continues to treat deception as something of a perturbation on the exchange of pure information, leaving us unprepared to contemplate a world in which fakery may reliably crowd out the genuine. In particular, humanity's future selective pressures appear likely to remain tied to economic theory which currently uses as its central construct a market model based on assumptions of perfect information.
If we are to take selection more seriously within humans, we may fairly ask what rigorous system would be capable of tying together an altered reality of layered falsehoods in which absolutely nothing can be assumed to be as it appears. Such a system, in continuous development for more than a century, is known to exist and now supports an intricate multi-billion dollar business empire of pure hokum. It is known to wrestling's insiders as "Kayfabe".
Because professional wrestling is a simulated sport, all competitors who face each other in the ring are actually close collaborators who must form a closed system (called "a promotion") sealed against outsiders. With external competitors generally excluded, antagonists are chosen from within the promotion and their ritualized battles are largely negotiated, choreographed, and rehearsed at a significantly decreased risk of injury or death. With outcomes predetermined under Kayfabe, betrayal in wrestling comes not from engaging in unsportsmanlike conduct, but by the surprise appearance of actual sporting behavior. Such unwelcome sportsmanship which "breaks Kayfabe" is called "shooting" to distinguish it from the expected scripted deception called "working".
Were Kayfabe to become part of our toolkit for the twenty-first century, we would undoubtedly have an easier time understanding a world in which investigative journalism seems to have vanished and bitter corporate rivals cooperate on everything from joint ventures to lobbying efforts. Perhaps confusing battles between "freshwater" Chicago macro economists and Ivy league "Saltwater" theorists could be best understood as happening within a single "orthodox promotion" given that both groups suffered no injury from failing (equally) to predict the recent financial crisis. The decades old battle in theoretical physics over bragging rights between the "string" and "loop" camps would seem to be an even more significant example within the hard sciences of a collaborative intra-promotion rivalry given the apparent failure of both groups to produce a quantum theory of gravity.
What makes Kayfabe remarkable is that it gives us potentially the most complete example of the general process by which a wide class of important endeavors transition from failed reality to successful fakery. While most modern sports enthusiasts are aware of wrestling's status as a pseudo sport, what few alive today remember is that it evolved out of a failed real sport (known as "catch" wrestling) which held its last honest title match early in the 20th century. Typical matches could last hours with no satisfying action, or end suddenly with crippling injuries to a promising athlete in whom much had been invested. This highlighted the close relationship between two paradoxical risks which define the category of activity which wrestling shares with other human spheres:
• A) Occasional but Extreme Peril for the participants.
• B) General: Monotony for both audience and participants.
Kayfabrication (the process of transition from reality towards Kayfabe) arises out of attempts to deliver a dependably engaging product for a mass audience while removing the unpredictable upheavals that imperil participants. As such Kayfabrication is a dependable feature of many of our most important systems which share the above two characteristics such as war, finance, love, politics and science.
Importantly, Kayfabe also seems to have discovered the limits of how much disbelief the human mind is capable of successfully suspending before fantasy and reality become fully conflated. Wrestling's system of lies has recently become so intricate that wrestlers have occasionally found themselves engaging in real life adultery following exactly behind the introduction of a fictitious adulterous plot twist in a Kayfabe back-story. Eventually, even Kayfabe itself became a victim of its own success as it grew to a level of deceit that could not be maintained when the wrestling world collided with outside regulators exercising oversight over major sporting events.
At the point Kayfabe was forced to own up to the fact that professional wrestling contained no sport whatsoever, it did more than avoid being regulated and taxed into oblivion. Wrestling discovered the unthinkable: its audience did not seem to require even a thin veneer of realism. Professional wrestling had come full circle to its honest origins by at last moving the responsibility for deception off of the shoulders of the performers and into the willing minds of the audience.
I EMPHASIZE THAT "It is deception rather than information that often plays the decisive role in systems of selective pressures." ALL OUR POLITICS HAS BEEN KAYFABED! Therefore, a professional wrestler is particularly qualified to speak about HOW THE FINANCIAL AND POLITICAL WORLDS REALLY WORK!
+10000
Thanks for the informative post RM
Please dude. No one believed wrestling was real from the beginnings in the 1940's. Fuck "kayfabe". No one cared. We just wanted to see action.
Yes, definitely, a professional wrestler speaking about political issues would not be met with the slightest bit of skepticism...
No more or less than Hollywood celebrities speaking about political issues.
i like where this is going.
Is that you Tyler?
Considering the mean IQ in America and their preoccupation with celebrities, Oprah is a shoe in for POTUS next time around. Now if she can only master the figure-4-leglock.
The Federal Reserve and the Federal Government are the enemy.
End 'em both, and let the "devolution revolution" begin:
http://www.zerohedge.com/article/guest-post-transition-free-society
The BIGGEST SCAM in the history of mankind indeed!
http://www.youtube.com/watch?v=iFDe5kUUyT0
What I really mean to say — and it can't be said enough — is that they — the Fed/Gov and those who control them, both inside and out — are ending themselves and that the best we can do is to get out of both their path and their wake.
Easier said than done, I know, but the more who do, the more who survive.
So be among those of us who are trying our best to do so, with apologies for being a broken record on sharing this link:
http://readynutrition.com/resources/52-weeks-to-preparedness-an-introduc...
All these folks got together to implement OLD systems of manipulation and control... modern methods alter only the style, names, players, and other superficial matters... the structures and mechanisms are ancient.
Hope that guy doesn't drive a Mercedes!
I wanna see Ben and Mario in a tag team match!!!
Fuck that, I wanna see The Chair Satan and Paul Krugman take on Kane and Jesse Ventura. They could fight for five minutes, and then debate for five minutes. I'd buy the PPV for that!
I'd buy that but the fight must be first.
"Mischief springs from the power which the moneyed interest derives from a paper currency which they are able to control, from the multitude of corporations with exclusive privileges which are employed altogether for their benefit."
Andrew Jackson
.
"The press is the hired agent of a monied system, and set up for no other purpose than to tell lies where their interests are involved."
Henry Adams
.
http://jessescrossroadscafe.blogspot.com/
Clearly Pro Wrestlers are a whole lot smarter and richer than most MBA's I know.
And smarter than the MSM or our snob-culture gives them credit for. They are Performance Athletes, just like the guys in the NFL, NBA, NASCAR, etc. Except that many of these Athletes have their heads up their... just like their poo' friends they left behind.
Cue sound bites from Dog Chapman claiming Bernanke's scalp...
'ha, ha, ha' (in Dog's voice)
The "People's Elbow" is long overdue.
The Fed may die but fiat will not.
What is wrong with debt backed money? It is afterall based on YOUR promise to pay your note....are you not going to keep your promise?
Fiat is easy to use and move. It is just not a store of value. It is not inherently a bad thing. It is a tool that has been misused because the system it is used in has no good reliable store of value. If that is corrected and fiat is used only as a medium of exchange (not held for long periods either as cash or cash derivatives) it can redeem itself even to the users here at ZH.
Exactly.
Hold 15 percent in assets in precious metals and you are fully hedged for the zombie apocalypse.
Cash is trash. Hold the smallest amount necessary
Money is "a promise to complete a trade". A trading promise is a "debt" until it is delivered ... at which point the money is extingushed. So it is obvious that money is debt ... and that's not bad. What is bad is DEFAULTs not matched by INTEREST collections resulting in non zero INFLATION.
Todd Marshall
Plantersville,TX
He's going to be audited, 'visited' and 'listed.'
Better check his motor mounts.
http://www.youtube.com/watch?v=4fV6ZdtbTYA
The Parable of the Old Man and the Young ~ Wilfred Owen ~ Kenneth
.
http://jessescrossroadscafe.blogspot.com/2013/10/gold-daily-and-silver-w...
jca
.
"For the game had never been fair, the dice were loaded. They were swindlers and thieves of pennies and dimes, and they had been trapped and put out of the way by the swindlers and thieves of millions of dollars."
Upton Sinclair
more jca ..
http://jessescrossroadscafe.blogspot.com/2013/10/sp-500-and-ndx-futures-...
I prefer Mr. T telling me to buy gold. and to not be a fool.
How long before they ban this kind of "Truthiness" as Seditious and a threat to "National Security"**?
** Where "National Security" = The security and interest (simple or compound) of the 1% that owns most of the country, and controls all of it. The 1% are the Owners/Controlling-Shareholders are the Wolves, the 99% are the Sheep.
Graze accordingly, if you can't mutate into the 1% of Wolves. Happy Halloween. Aooooo!
Can't be long coming. I read today that the US military code would not welcome the founding fathers of the country into service today, as they would be considered subversives. And there you have it.
Living under a gold standard sucks ass. Prices and labor are sticky downwards. It is a tough economic system to work under because of natural deflation tendencies colliding with people's loss aversion.
I prefer to be jacked off by the soft hand of fiat with two percent inflation lube annually.
The fed needs to be reformed and the financial oligarchy hanged however.
How do you feel about "Zero" inflation ... at all times ... everywhere ... unconditionally guaranteed.
It's possbile and trivial to accomplish.
Todd Marshall
Plantersville, TX
Due to the deflationary effects of productivity in an inflexible money supply you have downward pressure on price and wages which people naturally resist due to loss aversion bias (nominal losses are what people react to).
In a gold standard you dont have zero inflation in a growing economy. You constantly face deflation jamming up the wheels of commerce. I prefer just a tiny bit of lube in the form of inflation.
Of course if it is proven that no one can manage a fiat money supply without ultimate financial collapse then the benefits of a gold standard out weigh the theoretical benefits of a fiat standard, if such fiat standard always gets fucked up.
America cannot be great without inflation. Inflation erodes the value of debt that America issues. With low or no inflation we might have to pay back face value.
Phzzzt to that! Long live the FED!
Over.
As far as it being proven or not- is there an example in history of a fiat currency having long term staying power over centuries and not collapsing into nothing?
No. And there is no example in history of a fiat currency being properly managed such that INFLATION = DEFAULT - INTEREST; INTEREST is collected equaling DEFAULT experience; yielding zero INFLATION every where all the time.
You are precisely right Carl when you say gold is "guaranteed" to be deflationary ... and that' really really bad. Among the reasons is it becomes wise to hoard gold ... and what percent of the society do you think becomes the gold hoarders. Right ... the 0.1%. With their stash they have unlimited power over the entire marketplace. It's truly ugly!
And don't forget the random inflation when something like the Yukon gold rush (let alone Spain robbing the New World) happens.
I prefer to be jacked off by the soft hand of fiat with two percent inflation lube annually.
Stroke however you like, but don't force it on the rest of us.
How would your tool feel with zero inflation ... guaranteed at all times everywhere. Would it prefer the 2% lube to zero lube?
I love the fact a wider range of speakers carry the same message or at least speaking out on tangents to the problem.
Different audiences hearing this is good. More are awakening.....
He says "if the government paid all its debts there would be no money". He is wrong. Debt is "a promise to complete a trade". Governments aren't the only traders in our marketplace. However, they are the only ones allowed to perpetually DEFAULT. Thus, you don't ever have to worry about them paying off their debt. But if they did, there would still be money circulating from other traders undelivered promises. However, if more INTEREST has been collected than DEFAULTs, there wouldn't be enough money to pay all traders debts. As long as governments are allowed to trade and DEFAULT with impunity and pay the lowest of INTEREST rates, we will always have INFLATION.
Todd Marshall
Plantersville,TX
It is interesting to read the political debates on the gold versus fiat argument before the fed was established.
Essentially there wasnt much money-credit in a gold standard. Gold had a low circulation velocity and individual bills of credit circulated with great inefficiency and loss of productivity. Imagine a million producers of fiat of varying levels of trust trying to serve in place of a standard FRN.
Ultimately it was felt that uniformity of money credit would produce greater economic efficiency, rather than a business scrutinizing the credit-money of farmer A versus Farmer B in their respective promissary notes.
In a gold standard when credit-money creation was truly a cottage industry theses private promisory notes always curculated at a Large discount because no one could evaluate every damn individual promisary note or bill of credit.
Little people actually do better under a homogenized national unitary credit creation system such as the Fed in theory. They capture more of the discount (pay less interest). The FRN is not discounted as much when it curculates, as opposed to private credit-money of farmer Joe and Hank the propane guy with their individual promsory notes. Individual losses due to some private credit-money (promisory notes) failing to perform cease to exist. Hence the ready acceptance of the FRN, increased velocity, and market clearing as opposed to milliOns of individual credit-money (promisory notes) with uncertain values. We essentially decided to back the credit of the individual with the full faith and credit of our country with the FRN.
oh god.. no.. not LOSS OF PRODUCTIVITY!!! ahhh the horrors.. the people might actually stop and enjoy their lives and work less
Just what point are you trying to make? Is it not true that right now we have several credit card companies (all private) that essentially perform as a medium of exchange? They hide their cost in the cost of the products we buy (the merchants just adding the swipe fees into the sales price). A more efficient and less costly system is possible ... and without the Fed and without any inflation or deflation of the MOE itself.
Gold as a MOE is a nonsequiter ... there's nowhere near enough of the stuff even if it was better than fiat in other respects (which it is not).
So Russel Brand is either not stupid or more stupid than a pro wrestler.
I would say the wrestler has it all over Russell Brand.
Russel Brand is a statist douche.
http://www.collective-evolution.com/2013/10/27/russell-brand-speaks-of-r...
eeeeeeeeeeewwwwwwwww......
Nobody with half a brain endorses gold backing 100% of the money supply. Even a 15 to 20 % requirement would be a healthy throttle on the abuses of the Central Banks/Politicians. In addition the Gold inventories increase every year to allow for a slow but healthy increase in the money supply. No expert here-just sayin .....
Wrong about gold. The yearly amount mined as a percentage is becomming less and less of the total amount of gold already above ground. That percentage is becoming closer to zero as the years go by. Gold is slowly becoming a standard for currencies, and it will become the standard soon. Fiat is almost over as currency. Long live gold!
Yes, but that just changes the price which will be adjusted from time to time to allow for growth in the money supply. Gold is becoming harder to mine not disappearing. The real point being that Gold as part of the required reserves could slow down but never stop the abuses of the Central Banks. I can pretty much say with confidence that Gold will still be mined 200 years from now, but to your point, at a decreasing rate of production.
The amount mined has to equal the expansion of trade ... which is assumed to parallel population expansion (which of course it doesn't). So gold, as you illustrate is very deflationary ... and that's very very bad.
Having a precious metal backed medium is every bit as unnecessary as having a capital backed medium of exchange.
The issue is proper management: Monitor DEFAULTs; collect an equal amount of INTEREST; maintains INFLATION at zero always by the relation: INFLATION = DEFAULT - INTEREST.
The amount of money in circulation is always exactly equal to the amount demanded, because money is "a promise to complete a trade" and trading promises are always in perfect balance.
Yeh ... great. Then it backs $10,000 per persons ... as long as only 20% of the people demand backing at any time. Ridiculous!
That's no different than reserve requirement being only 20% of loaned out money.
The big scam is almost over. Rejoice in the collapse (as long as you have the neccessities to survive such collapse. Keep your knives sharp and your powder dry.).
yep, learned about this in 2004 from a book called "The Creature from Jekyl Island".
Which was a total plagiarization of Eustace Mullin's "The Secrets of the Federal Reserve".
Yes, sir! This is the kind of humble plain talking that people need to hear and see.
'A man persuaded against his will holds the same opinion still.'
For those who want to know the truth, they will seek it. The rest will grift on as per usual.
And let's remember that the term 'conspiracy theory' was devised by the CIA representing biggest banks after the assassination of JFK in order to marginalise and then demonise any honest questions or dissent, legitimately asking the powers that be to explain themselves. They hate public exposure most. They are the new feudalists, same as the old feudalists; killing as they please and expecting the pitiful debt serfs to comply with orders.
The funny thing about all this is... those credit cards in your pocket have the same end result as the Fed's loose monetary policy, and similarly bank loans, when you use them... money out of nothing, artifical price inflation. Same. Dam. Thing.
If we took credit away from the table across the board and people had to pay with their savings, those prices would fall faster than you can say The Bernanke.
Wrong. Actually, credit cards work perfectly as a medium of exchange if the user pays his balance every month. And for those that don't, there is interest collection, that not only collects any amount defaulted but also provides great profit to the credit card company. The only thing credit cards can't do which a properly managed medium of exchange can do is "hold value" over all time everywhere. The key is "proper management" by collecting INTEREST equal to DEFAULT experience such that INFLATION is zero at all times everywhere. The operative relation is: INFLATION = DEFAULT - INTEREST, and the only acceptable result is zero.
I'm sorry... but it disturbs me very much that such people know of an upcoming crisis.
At the end of an boom there should be euphoria...where is it?
Throw the beast into the pit already.
If you need fake wrestling to combat a fake system you know how late it is.