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Ray Dalio: "If You Don't Own Gold, You Know Neither History Nor Economics"
Bridgewater's Ray Dalio explains in under 120 seconds why everyone should allocate some of their portfolio to gold:
"If you dont own gold...there is no sensible reason other than you dont know history or you dont know the economics of it..."
Of course, few 'status quo' believers will pay heed to the $150 billion AUM fund manager, despite his imploring everyone that to be successful, one must "Think Independently, Stay Humble"
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Answer: YARD SALES!
http://images.sodahead.com/polls/001585449/4854749137_simpsons_nelson_haha_1_xlarge.jpeg
i wonder if this guy can tell me how much my liquor inventory will be worth when the SHTF?
i wonder if this guy can tell me which is more easily converted in a barter type economy, my $275,000.00 inventory or gold?
i wonder, which will be worth more?
I agree. Plus I enjoy stacking alcohol much more.
$275,000.00 inventory of liquor? Either you run a liquor distibutor or you have a serious drinking problem. That stock of booze will take about 20 minutes for the FSA rioters to clear the shelves.
Actually, less than five minutes...we saw how all the booze gets cleared out of drugstores at the last couple of riots.
I sure hope all that inventory is in metal flasks.
When this catastrophe comes; it will not matter what you have or do not have, for the "do not haves" will far outnumber the "haves" and that will be ugly. However there is something that one can possess that transcends all of these things that only a few have, but it is all one will ever need to survive and thrive.
A functioning brain.....
And luck, i reckon
I'm glad that ZH still has some real brains laying around here, spot on....
See you in a while crocodile...
Some bitcoin ?
a low profile and a shitty looking house.
(check and check)
Winner! Winner! Chicken dinner.. is this the answer?
https://www.youtube.com/watch?v=XKLD5yVl0PM
Having AU is good. Having PM plus other Appreciating Assets is better.
For those who can't afford fancy Art, maybe stocking up on Ammo, Alcohol First Aid and Toiletries (especially Feminine Hygiene Products) will probably work nice.
Well, 10% of how much, let's say 3 billion? You must have a deep pond behind your McMansion, mr. Dalio.
what if where ever gold is said in his talk, it was real estate. suppose with enough gold bricks I could crawl inside. at least huffing and puffing wouldn't blow the fucker over...
Date of interview is Septmber 12, 2012.
Agree with Dalio, but Tylers using VERY old material.
The amount of propaganda ZH and Tyler are pumping out recently is ridiculous. Now its just a circlejerk for idiots.
Oh thank God someone else caught the whole irony of this stupidity. Had you listened to this fartknocker... you would have 67 cents of every dollar...
MOAR Stupidity.
If you don't own guns you either don't know history or economics
If you don't own cows you either don't know history or economics
If you don't own a garden you either don't know history or economics
If you don't own a well you either don't know history or economics
If you don't own an energy source you either don't know history or economics
If you don't own farmland you either don't know history or economics
If you don't own survival skills you either don't know history or economics
If you don't own...........
So everyone should become Amish.
Then the department of BLM, EPA, IRS, ETC come calling....
There is no solution to a Kleptocratic Oligarchy, you can try a revolution, but history has proven how that ends...
There are plenty of solutions to a Kleptocratic Oligarchy. Few of which require participation by the masses. The choice are not either Kelptocracy or Revolution.....
External solutions are the key words...
(I'm fairly certain Russia, India, Iran, North Korea, Vietnam, Japan, and China has the "solutions"...)
Cows. Now there's something I haven't thought of. Well, not up the chain from the hamburger and stuff. But what happens if Elsie starts shitting on the rugs? One can become very attached to pet cows. Why, an acquaintance of mine (well, I know who she is and have spoken with her several times, but I don't think getting to know her is a good idea) thinks that her uncle Fred came back as a cow in Nepal and's planning to go over there to see him. Look, she a native Californian, FFS, so don't look at me that way.
From personal experience, keeping calves in our garage during the winter of 1974, I highly recommend the deluxe cow diapers when they're in the house. Cow patties spatter on tile and concrete for what would have been hundreds of feet, except walls were nearby that managed to stop and contain inches of such spatter. The mass of bullshit is even more complicated by dragging in bales of alfalfa that manages to decompress and layer withing the growing mound.
The aroma of the garage spilled into the house from the seals of the door and merely walking into the garage sent a mist throughout the house that dampened pillows and blankets. One would take a nice hot shower then go to bed on pillow and blankets with cold, slimy, calf shit permeating them. And, as the one assigned to look after them, I had direct, twice a day, intimate contact with both of them and that garage as I bottle-fed, then weaned them. Castration was mostly viewed as revenge when I was twelve.
From then, until I shot them in their heads two years later, I was their mom.
It took four years of leaving the garage door open (in the desert) and monthly scraping and cleaning, before it was possible to turn the garage into a den. Over fifty years later, there's still a bit of cow perfume in that den.
Well..property taxes are killing the Amish..I always hated that tax more than all of them because it means one never really owns their land/property....anther proof that "Freedom" is the grand delusion; just ask Mr. Webster...no one who talks about freedom has overlooked at the actual meaning...compared to slaves or enslaved, which we all are according to my dear friend (R.I.P.) Mr. Webster
I think Nevada was the last state with allodial title, and they just ended that fairly recently. It's definitely something that should be brought back nationally.
Sigh.
Wife shot down my dream farm/recreational/bugout property.
This parcel of land hit all the checkboxes.
Sigh.....
No. Make that FUCK!
Ditch the wife? If you can't convince her, just a thought...
Trust me, that is definitely in the matrix of choices.
You should consider it.
No Moar Wives.
it is easier to feed one person. cheap hot labor will be abundant.
Well look on the bright side, you will soon get to say 'I told you so.....'
Ha.
Now this made me laugh.
it would be good advice to email that message from an unknown location.
Before men were financially and socially castrated, they controlled the finance and bought land as they saw fit. You can thank Feminism and the Usual Suspects.
So you're really douche enough to suggest that your wife should get no say?
Wow... I got junked on this without a word of explanation. Apparently all of ZH figures women ought to be property and no explanation needed.
Six years ago my wife thought I was a nut. Now she has two years worth of food, goes with me to the gun range, has gotten to be a pretty decent shot at twenty yards, and is helping me decide the allocation between gold and silver. Oh, and she's suggested that we get a generator and/or solar power and a two thousand gallon water tank. (That's my 60 yo gal! I may talk shit about her from time to time but no one has a finer wife!) She even wants me to start buying silver/gold for our grandson.
It takes a while, just keep letting her know what you're seeing; eventually she'll realize she's seeing the same thing, only now she knows what it is.
If you own, you are the descendant of the fat greedy hunter who one day sat down in forest and said "I can't be arsed to hunt anymore, would you dig some earth for me?"
Old news. But You better be 3 years early than 1 day late.
Notice he used the phrase "Let me be clear"; sound familiar? It is the Liberal phrase of the Obama administration along with the word "folks" and when put together "folks, let me be clear", then you know a lie is coming. Just something I noticed. I agree the the idea of having precious metals as a bet against the debt or a hedge.
you right/left, liberal/conservative loonies are the problem, not part of the problem. you are the enablers of the matrix., the key to the illusion.
"you are the enablers of the matrix., the key to the illusion"
not even close! it goes much deeper.
Society is your parents' writ large. Your parents were nothing but agents of this society.
It is all a conspiracy:
- The parents,
- The teachers,
- The policeman,
- The magistrate,
- The president — they are all together.
It is all a conspiracy: They are all holding the future of all children.
– Osho, the book of children, chapter 3, Conditioning
I was an asshole parent. I didn't/don't care how much I embarrassed my sons. When my oldest got straight F's in his first semester of high school I accompanied him for a couple days to classes to see what the hell was going on. (Schools will call you to say that he wasn't there but won't call you about grades. When they called he was legitimately sick. When they didn't call he was legitimately needing his ass kicked.)
One son, the younger, is an eagle scout and at 26, has been promoted to Junior Assistant Flunky at Starbucks. (I don't know what they do there, I drink Folgers and am not about to pay $5 for a fucking coffee...but he's held a stable job at better than minimum wage.) About to get his Associates with no debt (I've bought the books).
The other son has been a contractor in Afghanistan for the last 13 years. He's now the #2 or #3 civilian contractor for the entire nation under some general (I don't keep track anymore) and was personally offered a White House job by Bush while on AF1 (turned it down because he has MY attitude and mouth.) Smartest fucking guy in any room and barely passed high school.
Yes, we leave our imprint on our kids. But you can trust in the fact that we had no idea what we were doing. We winged it each and every day. Hell, neither one of us even read Dr. Spock, nor have. We were just ordinary rednecks doing what we thought was a little better than what we went through when we were kids. (I've never used a 2x4 on either one, nor a belt on a bare ass, nor a belt (come to think of it), or a fist (and that was MOM! Dad was worse!)
My kids still think we're embarrassing and low class. I'm fine with it. I thought the same of my parents until my 30's, then realized how impressive they really were. I guess I'm waitng to be impressive.
So your kids have entered the matrix and are feeding the machine. Not sure exactly what you're proud of there.
You knee-jerk "enlightened" ones who mindlessly parrot the meme that there is no difference between left/right and liberal/conservative ARE the real problem.
Again, for you slow learners: Yes, RED/BLUE ... no difference. However, LEFT/RIGHT or CONSERVATIVE/LIBERAL ... BIG difference.
That is ... Unless words have no meaning anymore.
Right, but people can't think in terms like he's talking. They either hate gold and don't own a single gram, or they go buck wild and bet the entire farm on Gold Eagles.
What he's saying has been sound advice since the advent of paper money: you better have some gold to hedge your counterparty risks.
It is being manipulated lower these last few years, before that they ran the price up to $1,900 an ozt. It has been stomped for a few years now, but sooner or later they'll run up the price to a new high. Maybe then a new low, who knows.
Look at Roman times because our Senate (TPP) is as corrupt or more corrupt than Rome's. Total scum.
Ray Dalio is a smart guy and arguably the best money manager in the world. He is also pretty clean and does not try to overthrow govts and destroy countries like Soros and other evil shit.
IS ''let me be clear'' the same as '''to be honest with you''? Like you were lying to me before?
Is that like products with ''new improved'' as if it was crap before?
Also note who he was speaking to...
CFR wannabe Davos elites.
They already know about gold... they just don't want us to have any.
Dovie'andi se tovya sagain (It's time to toss the dice)
Didn't you notice how they laughed at the suggestion of having gold?
They're not as smart as they think they, and we, they are.
The difference being that the fund manager can lie all day long and I can choose to ignore him. When Obama lies, people die, become impoverished, or go to jail when we ignore him.
People give the most honest answers during Q & A. No teleprompters.
"If you don't own gold, you own a popcorn fart"
Al Czervyk
Righto. In other words: gold "is" "real" "weath".
Shiny rocks are real wealth? I'd rather have good friends and live in a self-sufficient community.
Self sufficient community. How the simple mind works. The entire world is now the self sufficient community. Gone are the days when you can get by with 3 skinny sheep and some rye grass.
If you had this community, then you would need a way to trade and store capital. You can choose anything you like for that purpose. Rocks, leaves, toadstools, dried sheep crap. However, over millennia it is precious metals that have risen through market choice to be the predominate type of money. It wasn't some arbitrary decision by some blokes gathered around a fire, it was chosen by the world market, by everyone, as the best.
If you don't have shiny rock then you would be forced to produce in order to get some, otherwise you will be stuck with barter and will probably starve whilst waiting to turn that arrow into eggs. Thus an agreed money will always be in play. History has shown us that it will be Gold because it always has been. So, best to have some as seed capital to buy those eggs, so you are sufficiently well fed to produce those arrows.
So where can I sell my 2 tons of gold and get some change to buy a candy bar? Gold is money, right?
Oh, you say, when the gold standard is introduced only govt';s can own gold? Good look fencing your gold.
It's a reasonable question. How will you conduct commerce if the State says you must digitally transact? Don't tell me barter, because those with that ability is tiny. How can one transact w/ PM's, when very few if any commerical activities will accept it as money? Seems to me that it's a circular argument so long as the State...the fascist-socialist State survives.
Easy, you sell and ask the buyer to pay you in a spice of your own choosing. I have often paid small debts to friends by shopping with them and paying for them.
Kids do it all the time when they ask adults to buy them some beer.
When was gold ever used to purchase small consumable goods?
The answer: probably so infrequently that someone would have thought you a moron for doing so.
There were other things that bought bread or beer or a night at an inn. Or a toll on a road. Silver. Copper. Beads. Sometimes just a credit was Issued and you settled the account after many months.
But I'm sure some guy posting on the Internet somehow outsmarted 6000 years of human experience with money.
I guess Ray Dalio thinks he's a jew from 1920's Vienna.
Good for gold and even better for (high) energy prices in E.U.
Ethnic Albanians involved in recent violent clashes in the northern Macedonian city of Kumanovo used by Washington to threaten construction plans for Russia's Turkish Stream gas pipeline.
and
Clashes between the police and a group of Albanian gunmen lasted for two days, claiming the lives of at least 22 people, and leaving NATO and the EU anxious about the unrest in their candidate country.
Sorry, you lost me on the fact that this asshole is speaking before the CFR!
I suggested commodity prices were going to move lower, {excluding Xa & Xu} last week.
Owning gold is no sure thing. The government could outlaw it like they did in 1933, like they may even do to cash in the not-to-distant future.
Gold in the near term will advance some...
http://www.globaldeflationnews.com/gold-elliott-wave-update-for-week-end...
But there are no absolute safe havens... not even gold.
http://www.globaldeflationnews.com/governments-are-secretly-preparing-to...
You can discount all information that makes it public if it orginates from the CFR
.
If you are going to invest in precious metals, I do not advise anything in Silver Eagles as these are heavily counterfeited and are readily available on both Ebay and Ali Baba. Canadian limited editions and Perth mint are both better than eagles.
Also, there are many other things that can be invested in. Ammo, guns, heirloom seeds, medicine, tools, and non perishible goods like flour, sugar, salt, etc., will all be very valuable if we revisit another financial collapse like many think is coming (including myself)... perhaps even more valuable than precious metals which will be used in the interim for bartering and/or wealth preservation after cash becomes worthless.
In the short term, you should not underestimate cash or the need to have some on hand... in your hand. Your cash is not safe in the bank. Have at least three-six months of cash reserves on hand in case the banks decide to do a "bail-in". The legislation for such an event has already been passed.
Perhaps all of this is for nothing. But if it's not, and the smart people are right, you will be glad you prepared. Because more than 90% of Americans will not be... they are too caught up in American Idol to be worried about such nonsense.
"Investing" means you want a return, usually in FRNs. Savings are the result of stacking. :) One should save in silver and gold money, Silver Eagles are easy to determine authenticity of as they have especific weight and volume. Generally I agree with you but saving and investing are not the same thing. Put FRNs in a bank you are investing as an unsecured creditor getting little or no return.
Fiat cash is the only way to go.
Best item to barter will be alcoholic beverages like whiskey, rum, gin, brandy
Not the expensive ones.
Oh no, I hope this ain't another setup of the dum goy. Sumfin tells me gold aint worth a shit, learnt it on the TV.
But history never had SkyNet before.
Hey Tyler(s)! Very interesting piece on Seeking Alpha:
http://seekingalpha.com/article/3178896-the-real-reason-china-is-buying-...
Very plausible, and doesn't involve anyone trying to implement an overt Gold standard. Makes a lot of sense to me. US screwed either way.
I know for a fact, that his fund is short gold. Take that for what it is
Along with Gold, Ammo.
funny he's mentioning 10%...thats what I've been thinking as a good target myself.
However I wouldnt narrow it down to gold only.
If all the preppers waiting for armageddon ("you can't eat gold") and all the "hate-the-rich" types are finished, we should admit that the hated Dalio DOES make a good point.
Youj can't eat your car either nor FEDERAL RESERVE NOTES (sic.), does that make them worthless?
How about IAPPS and IWATCH? SHeeples think it is great to own these .
Hoepefully one has at least enough gold to get one through the various road blocks as one is fleeing the burning cities.
Nobody really knows the true details of specific periods in history, nor can they forecast the future. Dalio is talking to institutions and telling them that they should have some gold in their portfolios as a hedge, he's not talking to individuals. He's talking business to asset managers, etc. The role of gold has changed drastically. It is just a commodity now and you can only win with it if you do a trade at the right time (get in, get out) and make some money. It will never be a currency as it is small in quantity and finite. We're global now. We're digital now. We have centralized governments now who seek total power and control. Governments will tell you what your currency is and will be (until you have more military, police, weapons and prisons then they do). Government will confiscate or make illegal any currency that the people try to use that government isn't in agreement with. The USD, EURO, etc. are NOT fiat money. Fiat money is money where the government sets its value and price. The US Treasury or Congress isn't saying that "a USD = 23 cents" or whatever. Last time there was fiat currency was when a king said "this farthing is worth 2 cows" or some such. We're going digital and digital currencies will be controlled by individual governments and/or some international institution.
At least there are still six billion people on earth who know the benefit of owning some gold.
And those six billion are likely far from trusting 'digital'.
Poor people are better buying working tools and making some money than turning their life savings into an entire gram of gold.
It's capital. You have to work to accrue capital first, so yes, production before capital accumulation. One has to have liquid funds to invest wisely in tools and skills to make more capital. However you must understand that if capital cannot be accumulated there can be no advances. The poor man will live from hand to mouth from cradle to grave.
Gold is a last resort, a final hedge. When sufficient liquid capital is accumulated then part of that should be converted into gold. Gold is illiquid capital. It's not working capital. It's like that old oil lamp you keep around for when the power fails, or the life insurance policy, or the tools you keep stashed in the boot of the car-just in case.
If you never use it, then at the end of your life you can convert it into cash, or give it to your kids. It's the untouched portion of your capital. It is like an ark which contains precious seed.
Gold is the best performing asset class of the monstized new millenium, bar none, for a very obvious reason, and that ain't chaning anytime soon.
Be sure to call me when that changes Jethro.
Please define "currency" and differentiate it from the word "money" so we know what you are talking about.
Being an old guy, I was living in the beach cities not far from Camp Pendleton, where there were gold tents set up to exchange gold for dollars for the Vietnamese and others during the mid- and late 70s. Gold was one of the reasons they were able to escape from their homeland. Tell them that gold has no value in survival.
Could you elaborate more on what you observed please?
Approx 17% of the people actually surrendered their gold. If one cannot take the 2 minutes to listen, fewer will tactfully read, research, and apply critical thinking.
http://en.wikipedia.org/wiki/Gold_Reserve_Act
Please do not buy gold.
What about lead?
What about silver?
So I watched the video then I saw another one he did about how the economy works with all kinds of neat animations. However, after all the talk about credit and debt cycles showing that the debt use just creates misery (he doesn't say that, just shows it). He talks about how the Banksters (He does not call them that.) can use redistribution of wealth and printing money as ways to "fix" the economy. The thing he NEVER talks about is that the debt created to fund this cycle accrues unpayable permanent interest debt in the system when fiat money is used as is being done currently. THis is a BIG factor no one hardly EVER talks about. He also does not talk abotu this system being a big Ponzie fraud pyramid scheme that is enslaving the people to perpetual debt. (Until they revolt, whis coming to a country near you soon.)
Oh, in the "talk" to the CFR he calls gold a "currency" this is complete BS. "Currency" is a Note a.k.a. I.O.U., that is due and current. Gold and silver are metals and make the best material for making the tool called "money".
Besides some metals, I would suggest tobacco, liquor, asprin, toilet paper, tampons, sardines, bandages, water filters, chlorine, salt and many other things to supplement your physical. Just MHO.
and ammo
The most important is a one to one relationship with your Creator, Jesus Christ. With Him on you side; all is good whether you live or you die...always a win-win. BTW - All do die; except the CEO of Google; self-deceived fool that he apparently is.
Eh?
To quote Nepleon when crossing the Muese river.....
Marshal Ney, "God willing we'll be in Brussels by nightfall."
Napoleon, "God has nothing to do with it".
Can't say it better myself. If you are looking for God/Jesus/Buddha/Mohammad etc to save you from what's coming.....you're going to be disappointed ans starve.
God helps those who help themselves.....translation, "Luck favors the prepared".
Another quip that comes in handy as well, from the good the bad and the ugly, "God's not on our side because God hates idiots.".
Pray all you want if that gives you peace, but keep stacking your gold and ammo. The cows don't milk themselves.
Squid
Zerohedge has gone full born again christian. Its a natural reaction after seeing what an atheism/judaism combo has done to the US. But it wont last, church is boring and only simpletons can stand it.
Not that theres anything wrong with simpletons! Simpletons, a.k.a small farmers with a hunting rifle, are Zerohedge's ideal of the superman.
"Luck favors the prepared".
Today's 'Luck' is the results of yesterdays hard work.
You misinterpreted what Jesus said. It's necessary to read between the lines of books interpreted from ancient languages and compiled by those with a vested interest in maintaining power.
Jesus was a man. He was trying to change the idea of the divine right of kings and priests who were kings and priests because God said so. Once that ideology of God as a remote, invisible being, is removed then Kings have no place to hang their crowns.
Access to the Kingdom of heaven is stated as 'being through Jesus' but this isn't what was meant. It was salvation through Christ consciousness and not through prayer to gods, Kings or priests. In other words salvation is in your own hands through the raising of consciousness.
We raise consciousness by self knowledge, not simply by acquiring skills, or reading books, but by cultivation logic and reasoning - the higher mind ( see where the idea of heaven above comes from). It's necessary to cultivate these higher functions in order to distinguish between lies and truths, to cast aside tricky words and false arguments (this is commonly referred to as the Devils tongue).
This is all Jesus meant. Don't be suckered in by Kings, false Gods, prophets, wordsmiths, priests or even your own poor thoughts. Learn to think for yourself, raise your reasoning skills to the highest, act in accordance with this higher mind. That is why heaven is only attained through me ( him, human, self) not through any other. He was trying to teach this to wake the people up and not to regard him as yet one more divine king.
If you don't understand what was being said, then your actions will be that of a slave. You will not be able to distinguish between truth and lie and be at the mercy of false tongues. That's why he said the way is hard and narrow. That it is easier for a camel than a rich man. It is because we carry so much mystic baggage and fear that we are rich. One must work hard to carve out ones self in the right image. To be a rock against which all evil will crash. Believing in Jesus is simply a beginning. A desire for change to the good. It's like buying a gym membership, unless you actually work out it won't help. Praying to the machines for a fitter body doesn't cut it. You have to figure out what it is you are trying to achieve, study the methods, figure out what is a rotten lie and the truth, then apply yourself to the take diligently.
Crocki. Dang! That was your answer? Then I was off a bit when I suggested a full auto YKW.
I'm going to be the largest post-collapse seller of Fanta. My boys laugh at me now, but after a long day fighting off Lord Humongous, ain't nothing going to taste better than a luke warm Fanta.
Gold is a hedge pure and simple. Money is anything that is a medium of exchange. Over thousands of years and an almost infinite number of transactions in the market, gold emerged as one of the best monies. Nothing has changed. Fiat currency was built on gold as vouchers of exchange for gold.
The end of the Gold standard wasn't the end for Gold as money, instead it was effectively banned by governments because it controlled their spending and prohibited their friends in the banks from issuing huge piles of paper credit for a tiny cost and making a big fat profit with virtually zero risk.
Gold becomes I extremely valuable if fiat currency collapses by a loss of confidence. It isn't as convenient as paper, but it can allow the holder to issue their own currency against it. The owner becomes a central bank able to act as lender an guarantor. In a world in which paper had become worthless this would be one of the few ways with which to establish a function market place for trade and loans. The alternative would be barter which is very inefficient and stems liquid capital creation and the extension of loans to entrepreneurs.
Everyone should own some gold, not for security, or profit-Good though these things are-but because without it trade would grind to a halt and civilisaction would retreat. It should be considered a duty to own it as a hedge against economic failure for everyone.
It is not "curency" if it is not redeemable. It is just script or an I.O.U. nothing if you will.
"It is not "curency" if it is not redeemable. It is just script or an I.O.U. nothing if you will."
Gold is NOT currency, its money.
Those two things are different.
Squid
No, Gold is used to make money. Not the same thing. Like Steel is not a hammer but it is used to make a hammer. Remember, gold/Silver are the substance of money but precise pruity and amount plus identifiability make money. It is why we have the word "gold", "silver" and "money". Each mean a different thing.
The word you're really grasping for here is "fungible". Gold is always money, no matter what shape it is. Oh and do you know what the French word for money is? No I expect you probably don't ;-)
There was a time when the wome, for the most part, did not have to work (be "employed" earning "money") but they were not creating Bankster collateral so TPTB had to change that nad destroy the family so they could claim that less than 50% of the people not "employed" was a bad thing.
There is no money in nurturing and raising the next generation for the good of their family and the nation. Got Fermi-nazied?
---“One generation plants the trees and another gets the shade.” - proverb--------------
In light of the moral and spiritual decay that plagues our society we must consider this question.
What kind of trees are being planted today to shade the future generation from what may well be the blistering heat of an Antichrist dominated world. Are we planting anything or are we leaving our children totally exposed?
There's millions of poor people in India and China that own some gold....Are you saying poor Americans are on a lower rung than poor Asians?
If he doesn't, I'll say that.
Bitcoin is so much easier to smuggle across borders, gold is just a big heavy shackle.
I'll carry your gold for you if it is too heavy.
I volunteer to help you; 50/50 split :)
Till the electric goes out or an algorithm steals it or a government (which created it) decides to change the rules in the middle of the game or a million other crypto-currencies plague the entire system. Wasn't too long ago that Bitcoin was worth about an ounce of gold, now it is worth about 10 ounces of silver and falling. There are no good answers because the root problem resides in the human DNA. There is one solution, but not many find it and of the few that do; well they are at a level of peace regardless of any circumstances that surpasses human understanding.
Good luck trading buttcoin for a chicken
IF ONLY Columbus had wits to see and sail back and tell the queen "my queen, we got it all wrong".
He sounds almost apologetic for owning up to the fact that he has gold. And the laughing from the audience makes me wonder who he was addressing?
"Hi, My Name it Ray, and I own gold" Could be the local AA!
Buy a place way out in the country, around good neighbors who are all armed to the teeth, away from niggers(they will be the ones who come breaking into your house robbing and killing you), grow a garden and own gold.
Chad_the_short_... Buy a place way out in the country, around good neighbors who are all armed to the teeth, away from niggers(they will be the ones who come breaking into your house robbing and killing you), grow a garden and own gold.
-----
In desparate times, color doesn't or relations don't necessariy matter. I don't care if you are a cousin or a person of a different race. I don't care if others around me are armed to the teeth. That is their business. I am only concerned if I am equally armed to defend myself.
And I have never believed in the word nigger. I think the correct term is Negro.
In my mind that term "negro" is a person that "needs to grow" up. And that isn't racial. Lot so people of any color need to grow up.
Niggers will be niggers. Believe me.
I am more worried when the government comes looking for you! Millions of people have been killed by their GOVERNMENT!
The government is just an army. You fight an army by raising or joining an enemy army. Or cheering on said enemy army from a safe distance if it looks like they are winning. Dont expect to get any loot though.
Saddam Hussein's plan.
Siiggghhh. I can't believe how many people believe this rubbish. I actually can't imagine a believable scenario in which a gold stash is going to be useful. Here's my thinking:
1) The present power structures are probably going to survive, and the masses are going to remain under their thumb. Said power structures will outlaw the use of gold/silver as a medium of exchange, and make very bloody examples of any who try to go under the radar.
2) Some form of confiscation will be passed into law as well. It won't be enforceable and I doubt they'll seriously try, but it will have the effect of making gold far too risky to use even in a black market context.
3) The apprecation of gold will continue to be manipulated below the rate of inflation. This along with the two points above make gold useless assuming the present power structures remain in control. This is the most likely scenario.
4) Okay... let's go the opposite direction. The failure of the present system of control will almost certainly mean a tech crash. If you think gold is going to be worth anything in a hard crash scenario you are wildly delusional. Saving it for coming out the other side? Maybe... but that could be longer than you think, and you'll be lucky to survive it anyway. I really do think that survival in a hard crash is going to have more to do with luck than preps, and even if you survive don't be surprised if you come out the other side to find an extreme bare minimum existence going on in which buying and selling isn't quite as much of a thing as it is now.
Honestly, i think someone upthread said it best. PMs are a deliberatley laid trap. If the power structures survive they will be unexchangable, and in a hard crash it won't matter.
No one knows what's going to happen in a serious crash. Right?
So lets assume you are correct.
Nobody wants the junk. Exactly how is that going to hurt you? You lay it off to one side and wait it out like everyone else. It's not helping nor is it hindering.
Now lets assume your wrong.
Everybody wants it. Everyone is trading with it. But you don't have any. Your screwed.
Personally, I don't see the problem getting the stuff while you can and it's available. I'm sure not going to call someone stupid for storing anything that might help because until it happens it'll be all guess work.
Like paying for insurance hoping you never have to use it.
you realize the odds of a tech crash are vanishingly small. The current power structures are going to hold
Shennanigans!
you must be right, gold/silver as money has never survived the downfall of any country or economic system. wait wait, is that right or "its survived every downfall", i can never remember which one it is. I wonder why china and a bunch of other countries are collecting that worthless shit?
If I remember my history class, gold was first used as money by the US, but it didn't work out, so a guy named Nixon closed the drive-up window where you used to be able to buy government gold, and as a result the dollar finally became the world's reserve currency.
And then all the gold magically went to the East and nary a man in the West could care less, because Mr Nixon was obviously some kind of demigod who could determine medium of exchange for the whole world forever and that was the end of history.
Gold survives, but will the owners do?
Lots of pirate treasures around, lots of dead pirates too.
Yes, it's a currency. You can take it into a shop and buy stuff. Or to a bank and they will give you....wait. Let me come back on that one.
I thought everyone knew that...
...Except Bankers.
I know the outfit and the guys that make submarines for Ray Dalio. Also have known a few treasure seekers up the eastern seaboard. Done a little bit myself. None of us were looking for ancient bearer bonds. #LongShiny
Once China figures they can control the gold market they'll peg the Renminbi to gold and set the price of gold at several multiples of the current price. COMEX has very little gold, mine production is down and Fort Knox is likely as empty as the Ukranuan gold vaults they will be successful since there wn't be sufficient gold reserves available for arbitrage, they'll win by default... pun intended.
Lots of people disregard gold because they say "if the SHTF what good will gold be?"
It will be a way to change your savings from 2015 dollars into 2020 gold backed yuan, or some SDR put out by the the new world government...That's why I have it. I hope I never need it.
I have gold and silver and it's well hidden and well protected, but I don't believe for a minute it will be worth shit in a collapse. Maybe afterwards when a legitimate (ie Constitutional) monetary system is devised, but beans and bullets will rule the day and will be the difference between life or death in a collapse situation.
Oh, so you're the SOB who's been snatching up every round of 22lr the morning it hit's the shelves!
I am seriously curious though, what is the valuation for 22lr ( in some ordinary items, eggs, gallon of kerosene, etc) expected to be post melt down?
If 22lr is the next currency, some folks in my neck of the woods must be planning to be filthy rich.
Back to killin' snakes...
Reply to Mongoose:
.22 LR ammo is GREAT if you live in (or intend to move to) a location with plenty of woods for shooting small game for food. If that is your situation, I would recommend buying all the 22LR ammo you can find - for your use and for barter.
But NOT for defense.
If one lives in a city or suburbs close to a large city, then I would suggest:
1.) Two (2) or more semi-auto pistols (9mm or 45 cal) with the appropriate hollow-point ammo and extra high-capacity magazines;
Barrel lengths should be 4.25 inches minimum - for a longer sight-radius.
2.) A semi-auto large bore rifle (e.g., AR-15) with plenty of ammo and extra high-capacity magazines; a SCOPE or other sighting device would be a big plus!
3.) Optional: a 12-gauge shotgun (pump action) with plenty of ammo
I know history and economics, Ray, but I don't own any gold....CUZ I NEED TO EAT. I don't make enough to invest. It's all here and gone.
You just need to make more money. Try investment banking, I think it is still pretty lucrative.
Not enough Smarmy Jackass in me to make the cut. But thanks for the suggestion.
When he says Gold...is he refering to GOLDMAN...like you should have a good crooked bank and a good crooked accounting and a Senator all named Goldman?
"If you dont own gold...there is no sensible reason other than you dont know history or you dont know the economics of it..."
Lookit...
A guy heeds the call to buy gold in case of a major currency/economic collapse.
Thereafter, the shit hits a very big fan; it's scattered all over the place.
This guy has a few gold bars or a short stack of coins. He soon needs things like, food...
So he finds a few remaining suppliers of groceries. He needs, say, a loaf of bread.
He asks, "How much for a loaf of bread?"
The supplier asks, "How much do you have?"
"I have a gold coin", says the guy.
"Well, then...", the supplier says, "that's what a loaf of bread now costs."
And that's the problem with holding PM's or other fungible things. If they're worth anything, you won't have much for long. Things will cost what they cost, no matter how much one stacks.
Folks will be much better off buying the tools and other things needed to survive TODAY, rather than trying to hang on with gold or silver. It's the "stuff" these things presumably will buy that you'll want.
Why wait to have to buy them with hoarded PM later?
Buy it now while dollars are still accepted. The things really needed may not be available at any price someday.
m