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"It's Time To Hold Physical Cash", Fidelity Manager Warns Ahead Of "Systemic Event"

Tyler Durden's picture




 

As Jamie Dimon recently noted while discussing the perils of illiquid fixed income markets, the statistics around “tail events” can no longer be trusted.

In other words, 6, 7, or 8 standard deviation moves that in theory should only happen once every two or three billion years may now start to show up once every two to three months. Evidence of this can be found in October's Treasury flash crash, January's fantastic franc fuss, and last month's Bund VaR shock.  

Why is this happening? Simple. There’s no liquidity left and the idea of efficient markets facilitating reliable price discovery is an anachronism. 

Today’s broken, “mangled” (to use Citi’s descriptor) markets come courtesy of: 1) frontrunning, parasitic HFTs, 2) the post-crisis regulatory regime which, to the extent it’s well meaning, was conceived by people who never had any hope of evaluating the likely knock-on effects of their policies, and 3) central banks, who have commandeered sovereign debt markets, leaving a trail of illiquidity and shrunken repo in their wake. 

Meanwhile, equity and fixed income bubbles continue to inflate on the back on central bank largesse and the only two options for rescuing a highly leveraged world are writedowns and/or inflating away the debt.

So what is a savvy investor to do in this powderkeg environment? Simple, says Fidelity’s Ian Spreadbury: own gold, silver, and physical cash. 

Via The Telegraph:

The manager of one of Britain’s biggest bond funds has urged investors to keep cash under the mattress.

 

Ian Spreadbury, who invests more than £4bn of investors’ money across a handful of bond funds for Fidelity, including the flagship Moneybuilder Income fund, is concerned that a “systemic event” could rock markets, possibly similar in magnitude to the financial crisis of 2008, which began in Britain with a run on Northern Rock.

 

“Systemic risk is in the system and as an investor you have to be aware of that,” he told Telegraph Money.

 

The best strategy to deal with this, he said, was for investors to spread their money widely into different assets, including gold and silver, as well as cash in savings accounts. But he went further, suggesting it was wise to hold some “physical cash”, an unusual suggestion from a mainstream fund manager.

 

He pointed out that a saver was covered only up to £85,000 per bank under the Financial Services Compensation Scheme – which is effectively unfunded – and that the Government has said it will not rescue banks in future, hence his suggestion that some money should be held in physical cash.

 

He declined to predict the exact trigger but said it was more likely to happen in the next five years rather than 10. The current woes of Greece, which may crash out of the euro, already has many market watchers concerned..

 

Mr Spreadbury's views are timely, aside from Greece. A growing number of professional investors and commentators are expressing unease about what happens next..

 

“The problem is that people are struggling to work out how to diversify if QE programmes stop,” he said.

 

Mr Spreadbury added: “We have rock-bottom rates and QE is still going on – this is all experimental policy and means we are in uncharted territory.

 

“The message is diversification. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

 


As The Telegraph notes, this is "an unusual" piece of advice coming from "a mainstream strategist" and it suggests the "serious people" are starting to realize that a certain tin foil hat fringe blog — which can already count LIBOR manipulation and HFT proliferation as examples of conspiracy theories turned world-changing conspiracy facts — may be correct to warn that if the current state of affairs persists for much longer, the "market" may one day be halted and simply never reopen.

 

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Sun, 06/21/2015 - 13:26 | 6219404 JustObserving
JustObserving's picture
"It's Time To Hold Physical Cash"

He has been trained by the US Fed to never mention gold and silver just as Greek journalists were trained by the IMF to never reveal that Greek debt was unsustainable? Always remember that CNBC is your friend, especially appropriately named Liesman

The IMF "Trained" Greek Journalists In Washington To Spin Stories In Favor Of Troika

“In Greece, certain individuals who work for the mass media were contracted to conceal the fact that the Greek debt was not sustainable.”

http://www.zerohedge.com/news/2015-06-19/imf-trained-greek-journalists-w...

Sun, 06/21/2015 - 13:39 | 6219453 Billy the Poet
Billy the Poet's picture

 

 

Mr Spreadbury added: “We have rock-bottom rates and QE is still going on – this is all experimental policy and means we are in uncharted territory.

“The message is diversification. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

Sun, 06/21/2015 - 13:42 | 6219461 JustObserving
JustObserving's picture

Thanks - saw that at end of article - last two lines of Telegraph article.

http://www.telegraph.co.uk/finance/personalfinance/investing/11686199/It...

Sun, 06/21/2015 - 13:46 | 6219472 Billy the Poet
Billy the Poet's picture

Not in the headline and not until the end of the article. I can imagine that Mr. Spreadbury was more emphatic in the actual interview and it was the editor's decision to marginalize that part of the message. It's a wonder they printed it at all.

Sun, 06/21/2015 - 14:09 | 6219536 MonetaryApostate
MonetaryApostate's picture

I would HIGHLY suggest that you start stashing Alcohol & Cannabis (If it's legal to do so in your state)...

Now that's what I call diversified! :D

Here's why...  http://galeinnes.blogspot.com/2015/06/conspiracy-theory-war-on-alcohol.h...

(That's a huge fooking investing tip, you'll thank me later...)

 

Cash is going to be trash & we all know it...

Sun, 06/21/2015 - 14:22 | 6219568 Billy the Poet
Billy the Poet's picture

If the system fails cannabis will become almost worthless as it is the illegal status of that substance that increases it price. Sans government it's just a weed.

Again you've failed to think things through before making your grand pronouncement to the peons but that's just your style.

Sun, 06/21/2015 - 14:48 | 6219610 Captain Debtcrash
Captain Debtcrash's picture

And what exactly happens to that physical cash you hold when they ban cash.  I don’t know but it will probably look pretty good for the banks, but it it ends up in negative interest rates it will result in even larger bubbles. 

Sun, 06/21/2015 - 15:03 | 6219646 Port of Pursia
Port of Pursia's picture

Tyler, you've been saying the sky is falling for seven years. Learn from a real journalist.

https://youtu.be/VMjCZWS5-dw

Sun, 06/21/2015 - 15:32 | 6219715 God
God's picture

GOD says fuck cash, hold copper/silver/gold.

END OF CASH STORY!

Sun, 06/21/2015 - 15:37 | 6219733 James_Cole
James_Cole's picture

Just because it's fathers day every site on the internet has to take a giant dump in my cornflakes? Hold the end of the world stuff till Monday, c'mon. 

Sun, 06/21/2015 - 15:51 | 6219771 Soul Glow
Soul Glow's picture

BE YOUR OWN BANK - BUY SILVER

:)

Sun, 06/21/2015 - 16:03 | 6219797 crazytechnician
crazytechnician's picture

Don't forget about bitcoin .....

Sun, 06/21/2015 - 16:19 | 6219850 Captain Debtcrash
Captain Debtcrash's picture

Frankly crazy tech I think your right.  You don’t need a huge allocation but to hold some bitcoin does make sense.  I have my doubts about the crypto currency, but I would have a hard time dealing with making all the right calls on the failing monetary system except what asset to hold to protect myself and family.

http://debtcrash.report/entry/the-case-for-owning-bitcoin-from-a-crypto-...

Sun, 06/21/2015 - 16:21 | 6219852 The Steaksmith
The Steaksmith's picture

What Len Hen  ^ says up there ;-)

Sun, 06/21/2015 - 17:13 | 6219978 invisible touch
invisible touch's picture

at the end of monday everything is like any day of fearmongering to make it more bullish, and all here won't not even feel like idiots if they have courage to reread what they wrote on the sunday...

Sun, 06/21/2015 - 19:18 | 6220298 Soul Glow
Soul Glow's picture

Ah but you see the system is a fiat system by decree pushed up against one ginormous truth - REALITY.

You see there is a reality out there, not controlled by any man nor group.  It is the LAW, the real law, that which holds true for nature.  It is the natural, the all that is and all that was and all that will ever be.

In this realm there is no make believe, no bullshit.  This is where the gods play, for it is they who create.  We, men, live within their realm.

In this realm there are finite resources.  Creativity in the form of technology can improve short term modes of standard but will never create things like oil and gold in aggrigate.  If we had replaced oil with another form of cheap fuel then yes we wouldn't need oil, but we haven't.  Yes if people could all trust each other and barter and trade like brothers and sisters we wouldn't need gold as the form by which trade occurs, but some people lie; some people don't pay their debts.  Thus why will will be using oil to power our cars and electrical grids and use gold as money until the end of time.  

The only thing that is in question is - at what price?  At what price will oil trade for?  At what price will gold trade for?

In this reality the bankers have found loopholes to manipulate a docile public.  The public will remain willingly docile for ever, but when the prices of the above get too high - based on supply/demand - then everything comes to a head and the illusion breaks.

So we wait.  We wait for a large order of gold not to arrive at a Chinese bullion bank or a large Saudi oil field to run dry.  But one day, and mark my words, those things will happen, and when that day comes, you won't want fiat currency, be it dollars or bitcoin.

You will want gold and silver.

You will want gold and silver to pay your bills.  You will want gold and silver to purchase goods.  You will want gold and silver to pay for labor.  These will hold a premium and through high demand you will want to use them.

Skill sets will matter and it will be possible to live without them as many people live pay check to paycheck now, but as far as savings go, you will want gold and silver.

Sun, 06/21/2015 - 19:19 | 6220318 Waylon Bits
Waylon Bits's picture

Cash is trash.

Physical Silver + Bitcoin for the win!

Sun, 06/21/2015 - 23:19 | 6220870 Pairadimes
Pairadimes's picture

Over the years I have read quite a bit of sound analysis that suggests that we will experience a cash crunch at some point prior to seeing serious inflation. I have set aside a bit of cash for the time being, as long as the opportunity cost of being prepared for this possibility does not go too high.

The end game of all of this is of course mountains of worthless debt. There can be no other alternative when the vast majority of the world's wealth and almost all of its financial paper is denominated in fiat currencies. These fiat currencies are in turn based on trust in economies experiencing declining productivity and increasing economic dependency, both toxic to value creation. To me, this speaks strongly of impending deflation, which means we must soon see an unprecedented global destruction of value in financial instruments.

Fiat will only have meaningful value in the near term. Over the long haul, owning assets that can be successfully protected from capital controls and which do not require banks in order to exchange them is the only way to play this mess.

Tue, 06/23/2015 - 02:33 | 6224635 gladius17
gladius17's picture

"Over the years I have read quite a bit of sound analysis that suggests that we will experience a cash crunch at some point prior to seeing serious inflation."

It's happening right now...at least in my area (north Alabama.) Inflation in the stores, sharp deflation in the secondhand market. I've seen people going around offering to do work for people, trying to make some money, at half the price of what they "should" be asking. I just bought $700 worth of parts from a small time junkyard owner who could have easily gotten $1000 plus, in different market conditions. (Most of those parts will end up getting shipped to rich collectors of classic American cars in Finland.) I have a $4,000 top of the line drumset, in excellent condition, which I couldn't even think of selling in this market because it probably wouldn't even get $1,500. People are broke.

Sun, 06/21/2015 - 19:11 | 6220282 Soul Glow
Soul Glow's picture

Thanks Steaksmith

:)

Sun, 06/21/2015 - 20:09 | 6220444 847328_3527
847328_3527's picture

If you don't hold it, you can easily be Corzined!

 

Via con Dios!!

Sun, 06/21/2015 - 22:07 | 6220745 RaceToTheBottom
RaceToTheBottom's picture

I agree physical is the way but Corzine was still able to steal peoples allocated physical.  There is always risk

Sun, 06/21/2015 - 17:55 | 6220089 mortem-tyrannus
mortem-tyrannus's picture

I bought a single bitcoin 4 or 5 months ago to start futzing around with converting to namecoin and all that happy horseshit.

I say this as a public warning since most of my investments (the kind I can't hold in my hand at least) usually go to zero sooner than later. ;)

Here is to hoping I am wrong with this one.

Sun, 06/21/2015 - 19:00 | 6220279 BarkingCat
BarkingCat's picture

Fuck bitcoin. It has no real value. None. You might as welk hold Second Life currency or some other such thing.
Also, spare me you superior attitude like you're the only one who understands it. My degree is in computer science and I understand it perfectly.
Bitcoin is a virtual asset with imaginary worth.

Mon, 06/22/2015 - 01:19 | 6221007 MonetaryApostate
MonetaryApostate's picture

I believe that there needs to be a better clarity of thought like you have stated BarkingCat, there is a lot that will NOT be worth much in the coming turmoil, cash, bitcoin, pysical metals, and other forms of currency all stand to be either manipulated, become worthless, outlawed, or devalued significantly quite possibly as well... Who's to say what the future holds?  Well, if you look at the history of the Great Depression, that should at least be a guide to what is possible, like the confiscation of gold in the 1930s for example, and though I'd like to be optimistic to believe that they wouldn't do it again, but I wouldn't put it past them to reach for everyone's wealth in any way they can.

It's tough to say if crypto-currency will even be a safehaven against what's coming, but the elite are pushing the hell out of it that is for certain, and more & more countries are adopting it's usage, which could be because other people realize they are manipulating everything and their is no financial security to be found anywhere it seems.  I've listened to Max Keiser push crypto-currency for years now, also I've seen guest on his show talk about how they made a fortune off of bitcoin, so it leads me to believe that it's nothing more than yet another ponzi-scheme that only the wealthy will profit from because they were "First investors" or "Creators" of said crypto-currencies....

I would EXPECT the worst, prepare for it indeed, and if I was to give someone advice, it would be to convert most currency you have to things you will be able to sell if the shit hits the fan, like storable (non-perishable) foods include A LOT of water, alcohol, cannabis, or anything else you will be able to barter with.  I believe that once they bring the world under a "One World Digital Bank", which is of course only a conspiracy at this point (But a highly probable one), that we will likely be forced to deal with hard goods, so get diversified at the very least, and that is probably the best advice you will get from anyone with a financial education at this point.  (Also, If you can invest in utility companies, DO IT!)

Mon, 06/22/2015 - 06:47 | 6221236 FoundInTranslation
FoundInTranslation's picture

lol at all the fundamentalist goldbugs and other ignoramouses on here upvoting rabid bitcoin hate. You people don't have a fucking clue. Bitcoin is superior to every other form of money that has ever been used in human history. Keep stacking your hunks of metal, guys. They will retain their value, I'm sure. In the meantime, hyperbitcoinization is going to make anyone with half a brain who understands this new technology incrediby rich. 

 

Tue, 06/23/2015 - 02:27 | 6224630 gladius17
gladius17's picture

"Bitcoin is superior to every other form of money that has ever been used in human history."

LMFAO. You are quite simply a moron.

Mon, 06/22/2015 - 01:15 | 6221004 fascismlover
fascismlover's picture

Yea...it is funny.  When the MSMs are telling you to hold PM or physical currency, I think I might just go with PM.  Notes look cool with all of their presidential faces and security stripes but they are hard on the bum.  Long PMs and actual toilet paper.  

Sun, 06/21/2015 - 18:11 | 6220128 ThirteenthFloor
ThirteenthFloor's picture

"a time to gather stones together"

Sun, 06/21/2015 - 16:21 | 6219854 frankly scarlet
frankly scarlet's picture

Capt...when the bankers ban cash the locals will start printing up their own...

Sun, 06/21/2015 - 17:36 | 6220040 WillyGroper
WillyGroper's picture

Seen the new 5er's?

Sun, 06/21/2015 - 17:43 | 6220060 Fun Facts
Fun Facts's picture

The reason they want to ban cash is precisely for the same reason that the fund manager recommends it.

They are plotting a "no escape route" from their totalitarian global financial tyranny.

Note: physical gold has zero counterparty risk, does not depend on political systems, and also protects against a loss of purchasing power. For these reasons, it is in many ways far superior to cash.

Not to mention the fact that cash is an iou and gold represents a debt that has already been paid.

Sun, 06/21/2015 - 22:10 | 6220753 conscious being
conscious being's picture

My question is, does Ian Spreadbury know how to operate a nail gun?

Mon, 06/22/2015 - 02:16 | 6221062 SHRAGS
SHRAGS's picture

Its never been required knowledge for this mode of banker "suicide".

Mon, 06/22/2015 - 07:45 | 6221318 FinalEvent
FinalEvent's picture

Try to send your gold through a wire. #bitcoin

Sun, 06/21/2015 - 15:09 | 6219648 KenShabby
KenShabby's picture

I didn't read the link but I had to chime in -

Do you know how many people smoke cannabis? A fucking lot - by everyday Joes to a lot of so called "respectable" people. Quite frankly it is amazing.

With that said, I could easily see "weed" as a vehicle for exchange of goods.

It's legality may dampen the price but people enjoy it for a variety of reasons which only increases it's "marketability."

Just thinking out loud. 

 

Sun, 06/21/2015 - 15:22 | 6219687 Billy the Poet
Billy the Poet's picture

Tobacco can be grown in most states but it takes some experience to get it right. Tobacco is also a physically addictive substance which users employ in much greater quantities than cannabis. Tobacco has a long history of use as an alternate currency.

Mon, 06/22/2015 - 19:03 | 6223663 layman_please
Tue, 06/23/2015 - 02:35 | 6224638 gladius17
gladius17's picture

"Tobacco can be grown in most states but it takes some experience to get it right."

Bui weed is "just a weed", right? No experience or skills needed there whatsoever?

Sun, 06/21/2015 - 15:52 | 6219773 EINSILVERGUY
EINSILVERGUY's picture

Maybe in the short run ( as cigarettes or chocolate  were in post WW2 for a bried period of time) but "weed" would never satisfy the requirements of true money.

Its is not a store of wealth same as Salt or walnuts or a million other items 

It is not fungible as all weed is not equal in quality

 

 

 

 

 

Sun, 06/21/2015 - 15:54 | 6219780 VWAndy
VWAndy's picture

Hemp is. You could build a localy sourced economy on it.

Sun, 06/21/2015 - 16:09 | 6219825 Billy the Poet
Billy the Poet's picture

 

 

All we've eaten mate for the last four bleeding weeks is lupin soup, roast lupin, steamed lupin, braised lupin in lupin sauce, lupin in the basket with sauted lupins, lupin meringue pie, lupin sorbet... we sit on lupins, we sleep in lupins, we feed the cat on lupins, we burn lupins, we even wear the bloody things!

Sun, 06/21/2015 - 17:28 | 6220024 willwork4food
willwork4food's picture

But lupins don't have electrolytes...

Sun, 06/21/2015 - 23:27 | 6220880 Fourmyle
Fourmyle's picture

+50 Python ref.

This redistribution of wealth is trickier then it looks.

Tue, 06/23/2015 - 02:25 | 6224629 gladius17
gladius17's picture

"Maybe in the short run ( as cigarettes or chocolate  were in post WW2 for a bried period of time) but "weed" would never satisfy the requirements of true money."

Hogwash.

"Its is not a store of wealth same as Salt or walnuts or a million other items "

Wrong.

"It is not fungible as all weed is not equal in quality"

Irrelevant.

Gold and silver are not equal in quality either.

It does not HAVE to be equal in quality.

First, not everyone's weed is accepted into the weed bank for issuance of currency. The weed bank issues rules and sets standards for acceptance. The samples are assayed, evaluated, and sorted into categories (by individual producer if necessary) and currency is issued against the classes of weed, whose valuation floats freely on the open market. It can all be done electronically. There is no reason the value of AcmeCorp's Skunk Xtreme has to be equal in value to DaveyJones Super Lemon, or even to Bobco's Skunk Xtreme.

There's no reason you have to work exclusively with cannabis flowers, either. There is hash, and hash oil...which can be handled, measured, divided, assayed, etc much more easily than silver or gold can.

Sun, 06/21/2015 - 16:15 | 6219839 Carpenter1
Carpenter1's picture

Crash commences Monday/Tuesday.

 

Elites love their numerology, they ALWAYS use numbers to make big moves. 

 

22 is the most powerful number by far, potential for a great downfall or great ascendancy. 

 

Meeting is on the 22nd, but is it ascendancy or downfall?

 

Time is 7pm. Evening meetings designate an end, or fall. 7 is the number of completion.

 

You don't have to believe in numerlogy, know that they do. When they do something on the 22nd, at 7pm, you can know it ain't good.

Sun, 06/21/2015 - 20:03 | 6220399 daveO
daveO's picture

Yes. Remember Lagarde? "As you can tell, I do as I'm told".

http://www.youtube.com/watch?v=Sx_IZ-AcQ_I

At the time, people thought she was pointing to an event on 7/20/14. Well, guess what happened on 7/17/14. Yea this, flight 17;

http://en.wikipedia.org/wiki/Malaysia_Airlines_Flight_17

A 777 was shot down! Possibly the very same 777 that disappeared as flight MH370.

That's a lotta damn 7's.

Here's another one for all the youngsters;

http://en.wikipedia.org/wiki/Korean_Air_Lines_Flight_007 

It carried a HUGE anti-Communist named Larry and happened on 9/1/83;

http://en.wikipedia.org/wiki/Larry_McDonald

The wolf in sheep's clothing took over his seat. From Wiki;

After being raised Lutheran and spending most of his adult life as a Southern Baptist, Gingrich converted to Roman Catholicism in 2009.

 

 

Sun, 06/21/2015 - 16:17 | 6219840 Carpenter1
Carpenter1's picture

For all those who actually believed that CB's "have to" keep the system up. 

 

You do not understand who rules the world and what their motives are. You deserve to lose your money.

Mon, 06/22/2015 - 06:04 | 6221217 MonetaryApostate
MonetaryApostate's picture

Seriously KenShabby, read this man >>>   http://galeinnes.blogspot.com/2015/06/conspiracy-theory-war-on-alcohol.h...

I've outline as much as I could find so far, I'm still digging though, and my research is far from over I assure you...

When cash is outlawed (tick tock), you're are going to need something people need & want badly like guns & ammo, weed (Who's going to want to deal with reality eh?), food (Non-persihable), and water will all most likely be the best diversified NON-CASH things with the most tradability to have after the "changes come"...

Sun, 06/21/2015 - 17:51 | 6220075 mortem-tyrannus
mortem-tyrannus's picture

Some of us peons like his grand pronouncements. I sense a smidgeon of jealousy in your reply.

Mon, 06/22/2015 - 12:47 | 6222212 Ass Burger
Ass Burger's picture

These two have a real Sam and Diane thing going on.

Tue, 06/23/2015 - 02:14 | 6224623 gladius17
gladius17's picture

I too wish Billy would shut up with his grand pronouncements about subjects he's ignorant about.

Sun, 06/21/2015 - 18:42 | 6220220 JessieSharpton
JessieSharpton's picture

"If the system fails cannabis will become almost worthless as it is the illegal status of that substance that increases it price. Sans government it's just a weed.
"

I logged in just to downrate this comment, and some others of yours because.....

What you've just said is one of the most insanely idiotic things I have ever heard. At no point in your incoherent response were you even close to anything that could be considered a rational thought. Everyone on this forum is now dumber for having listened to it. I award you no points, and may God have mercy on your soul.

What I don't get?
You have a lot of people upvoting your nonsense!
Thats just insane!

Please, do the world a favor and off yourself.
You will thank me for giving you the idea, I promise.

Sun, 06/21/2015 - 19:09 | 6220292 BarkingCat
BarkingCat's picture

It will be pretty worthless. Why do you think they call it weed?
It is easy to grow and if there is a breakdown in law enforcement, everyone will be able to grow it.
It is basic law of supply and demand after that.
Lots of weed available and the price crashes.
Who would be stupid enough to pay for something they can grow themselves without any effort?

Sun, 06/21/2015 - 19:48 | 6220383 Billy the Poet
Billy the Poet's picture

If the system does fail most of us would use the opportunity to try to secure our freedom and live more productively. But there are a few who can't seem to aspire to being anything more than later day hippies.

Logic is wasted on them as they are simply wasted themselves. Notice how they make no effort to explain why cannabis would make a good currency despite the fact that it would be as common as the leaves on a tree.

I don't suffer fools gladly and if fools take offense so be it.

Sun, 06/21/2015 - 22:04 | 6220739 JessieSharpton
JessieSharpton's picture

"Notice how they make no effort to explain why cannabis would make a good "

“Make the most you can of the Indian Hemp seed and sow it everywhere.”
George Washington

“Hemp is of first necessity to the wealth & protection of the country.” -Thomas Jefferson

“Some of my finest hours have been spent sitting on my back veranda, smoking hemp and observing as far as my eye can see.”
-Thomas Jefferson

Ben Franklin started a hemp mill.

The US government holds a patent on hemp.
They grow it in Arlington VA to use on ships.
Like the ancient egyptians did.
Like people still do now.

You are such a a stupid fool as are your followers.

Sun, 06/21/2015 - 22:18 | 6220769 conscious being
conscious being's picture

All true, but none of it addresses the point that LE enforcement of drug laws constrict the supply, which drives up the price. End the enforcement of drug laws in a break down and supply will expand for all the reasons you point out.

Mon, 06/22/2015 - 06:51 | 6221239 Socratic Dog
Socratic Dog's picture

I know guys who have already stopped growing indoors because the margins have become too thin in CA.  And it's still (sorta) illegal.

Tue, 06/23/2015 - 02:13 | 6224622 gladius17
gladius17's picture

"All true, but none of it addresses the point that LE enforcement of drug laws constrict the supply, which drives up the price. End the enforcement of drug laws in a break down and supply will expand for all the reasons you point out."

This is completely irrelevant. Who cares?

If gold were only consistently worth $50 an ounce, would it still be worth investing in?

I dunno, why don't you ask the silver bulls?

Cannabis has even more uses in industry than silver does.

Cannabis works fine as a store of value. Which is what money is. In fact it makes a better currency than silver in some ways.

Sun, 06/21/2015 - 22:30 | 6220775 Billy the Poet
Billy the Poet's picture

If you think I have "followers" you're way too stoned.

Before your next bong hit take note that not one of your quotes (real or imagined) says that cannabis makes a suitable currency which is what is being discussed.

 

And to further disabuse you of certain notions see this:

 

Quotation: "Some of my finest hours have been spent on my back veranda, smoking hemp and observing as far as my eye can see."

Variations: None known.

Sources consulted: (searching on "hemp" and "smoking")

  1. Papers of Thomas Jefferson Digital Edition
  2. Thomas Jefferson Retirement Papers
  3. Ford Edition
  4. Lipscomb-Bergh Edition (via Google Books)

Status: This statement has not been found in any of the writings of Thomas Jefferson. It appears to be of extremely recent vintage, and does not appear in any secondary print sources available online. Thomas Jefferson did grow hemp, but there is no evidence to suggest that Jefferson was a habitual smoker of hemp, tobacco, or any other substance.

http://www.monticello.org/site/jefferson/some-my-finest-hours-have-been-...

 

Here's a tip. This guy is not a good source:

https://www.youtube.com/watch?v=ZYbCPNBQJ4U

 

Mon, 06/22/2015 - 06:35 | 6221231 JessieSharpton
JessieSharpton's picture

Lmao!

You used an actual link to the "Monticello.org" site to try to debunk a link!

Thats funny.

Your aren't even stupid enough to be clever.

Good try though.

I give you a 1 out if 10 for "effort".

Mon, 06/22/2015 - 11:05 | 6221850 Billy the Poet
Billy the Poet's picture

You used an actual link to the "Monticello.org" site to try to debunk a link!

 

The fact that your imaginary quote doesn't appear anywhere in the known record of Jefferson writings debunks it. Please cite the original source if your quote is real. Otherwise keep on giggling, the men with the butterfly nets will be along directly.

Why does it never occur to you people to check your facts and provide citations? Is there something inhibiting your ability to concentrate?

Tue, 06/23/2015 - 01:59 | 6224609 gladius17
gladius17's picture

"If you think I have "followers" you're way too stoned.

Before your next bong hit take note that not one of your quotes (real or imagined)"

 

What a fucking asshole you are. Clearly, you don't realize that the more bong hits a person takes, the smarter they get. But then again your type wouldn't know such a thing.

 

"says that cannabis makes a suitable currency which is what is being discussed."

So because you personally are not able to visualize and understand, then it's not possible?

 

Yes, cannabis can indeed be used as a currency. I'm the one who brought this up on this very web site in a comment thread the other day. The reason people are taking the idea and running with it (and running into knobs like yourself in the process) is because they can understand why it will work.

Clearly, you look down on pot smokers. You might want to ask yourself why you despise a person for being smarter than you.

Tue, 06/23/2015 - 02:08 | 6224615 gladius17
gladius17's picture

"If the system does fail most of us would use the opportunity to try to secure our freedom and live more productively. But there are a few who can't seem to aspire to being anything more than later day hippies."

So as long as "securing freedom" means being free to do the things you like and enjoy, then it's all well and good, but as soon as someone wants to be free to do other things, that's when you turn into a judgmental little bitch boy.

 

"Logic is wasted on them as they are simply wasted themselves."

 

What it boils down to is you're a dumb fuck who is prejudiced against weed smokers, for whatever obtuse, ignorant reason. You're an arrogant prick who thinks he's better than us, and above us. And you're wrong. Hilariously wrong.

"Notice how they make no effort to explain why cannabis would make a good currency despite the fact that it would be as common as the leaves on a tree."

Actually, some of us HAVE explained it. I've explained it. I'm not going to repeat the explanation, because the number of people who will benefit from said explanation is close to zero. A closed minded prick like you definitely won't be helped.

Educate yourself on what money is, and on the details of how to grow and process weed to A+ quality (which you will find is NOT as simple and easy as you think, and is indeed a resource-limited and challenging activity, even for the pros), and then maybe you will be learned enough to participate in this conversation.

Free clue: who cares if it were "common as dirt"? The valuation floats on a free market....and most importantly, is not subject to massive unexpected and unexplained shifts in price. Which is exactly what you want in a money supply.

"I don't suffer fools gladly and if fools take offense so be it."

BIlly, you are the king of fools. And you're too arrogant to see it.

Stick to your poetry.

Sun, 06/21/2015 - 20:11 | 6220449 daveO
daveO's picture

Still more valuable than bitcoin after the EMT they keep promoting(promising?). 

Mon, 06/22/2015 - 03:20 | 6221139 bid the soldier...
bid the soldiers shoot's picture

A drone overflew my friend's backyard on Saturday, where he had six pot plants growing.

I told him to dig up the plants and get them off his property. He dindu what I told him.

just sayin.

Tue, 06/23/2015 - 02:10 | 6224621 gladius17
gladius17's picture

"It will be pretty worthless. Why do you think they call it weed?
It is easy to grow and if there is a breakdown in law enforcement, everyone will be able to grow it."

Nonsense. Hogwash. You clearly know nothing about growing cannabis.

Mon, 06/22/2015 - 01:58 | 6221042 MonetaryApostate
MonetaryApostate's picture

Billy the Poet "If the system fails cannabis will become almost worthless as it is the illegal status of that substance that increases it price. Sans government it's just a weed."

"Again you've failed to think things through before making your grand pronouncement to the peons but that's just your style."

I have two words for you Billy the fail....  Kush Incorporated

Mon, 06/22/2015 - 11:10 | 6221868 Billy the Poet
Billy the Poet's picture

Thanks for mentioning two words and then giving no rationale as to why they are important to this debate. Can you put down the pipe long enough to actually say what you mean in a convincing manner?

Are you currently using this Kush Incorporate currency? Do your local shops accept it? Can you pay your mortgage with it or buy a car? Or have you simply forgotten the topic at hand and begun arbitrarily raving?

Tue, 06/23/2015 - 01:56 | 6224602 gladius17
gladius17's picture

"Thanks for mentioning two words and then giving no rationale as to why they are important to this debate."

There isn't any debate. It only exists inside your mind. The rest of us are clued in.

"Are you currently using this Kush Incorporate currency? Do your local shops accept it? Can you pay your mortgage with it or buy a car?"

What makes you think anyone is going to be worried about "paying their mortgage" after a total collapse of our civilization, simpleton?

They will still be smoking cannabis, of that you can be assured.

Yes, cannabis can be used as a currency, and a damn good one too.

Mon, 06/22/2015 - 03:21 | 6221141 123dobryden
123dobryden's picture

why in theoretical terms, just look libya, afganistan, somalia. syria, eastern ukraine, what is worthless and whats not

Mon, 06/22/2015 - 07:57 | 6221340 Random
Random's picture

Not necessarily true that cannabis will become almost worthless. Not anyone has the good seeds, indoor growing won't be a thing coz ya know, no power, not anyone will be able to grow the plants well and for sure not anyone will be able to extract the oil (medicine). It will be left to individual ability to grow, protect and sell the product (in the myriad of ways possible). So there's great value right there, just like in anything else.

Mon, 06/22/2015 - 10:07 | 6221632 plane jain
plane jain's picture

Value yes.

So much higher than other crops? Not likely.

Want a store of value? Learn to garden and save seeds.

Heck, even diversify and have some cannabis seeds, but storing bud, well it doesn't keep forever like whiskey or spam.

Tue, 06/23/2015 - 01:54 | 6224599 gladius17
gladius17's picture

"So much higher than other crops? Not likely."

You don't know much about humanity, apparently.

"Want a store of value? Learn to garden and save seeds."

Free clue: weed gardeners make good general gardeners, too.

"Heck, even diversify and have some cannabis seeds, but storing bud, well it doesn't keep forever like whiskey or spam."

To put it simply, you have no clue what you're talking about.

Tue, 06/23/2015 - 01:53 | 6224597 gladius17
gladius17's picture

"the system fails cannabis will become almost worthless as it is the illegal status of that substance that increases it price. Sans government it's just a weed."

You write good poetry, but when it comes to facts, oftentimes you come up short-handed. And arrogant.

Take it from an expert: the illegality is NOT the sole reason why cannabis is expensive.

Weed growers know there is faaaar more to growing and processing cannabis than most people think. "It's just a weed" is an oversimplification.

Most people couldn't grow a good crop of cannabis, or cure it properly, to save their lives....at least not without 4-5 years of practice to learn the craft.

As long as people are alive, they will get high. If anything, cannabis and alcohol will increase in price after a collapse. What else do you expect to happen, when demand is still high, but 95% of the supply chain are no longer functioning?

The few people (*raises hand*) who plan to keep producing even when the worst happens, are the ones who will come out on top when it's over with.

"Again you've failed to think things through before making your grand pronouncement to the peons but that's just your style."

Look in the mirror.

Sun, 06/21/2015 - 14:29 | 6219582 Miffed Microbio...
Miffed Microbiologist's picture

I have never considered the legality of something as a determination whether I participate or not. My only thought is in the avoidance of capture.

They do not play by the rules, why should I?

Miffed

Sun, 06/21/2015 - 14:48 | 6219609 Tall Tom
Tall Tom's picture

It does not matter if you win or lose but how you play the game.

 

If that is the case then play to win, I say...but without cheating.

 

You can use their rules, and even their own violation of their rules, to outsmart them, Miffed. That is the challenge. They are not that bright. That is why they cheat.

Sun, 06/21/2015 - 16:24 | 6219856 Tall Tom
Tall Tom's picture

To the junkers...

 

If the Banksters were smart then for what reason did they create a system that would ultimately destroy themselves?

 

If you really believe that Nuclear Wars are survivable then you are just as nuts as they are. And yes it will go to a Hot War over this. And nobody wins a Nuclear War...NOBODY.

 

If the Banksters were that smart then do tell me for what reason would they need to cheat?

 

The rules would initially be written so that no matter what happens then they win. But they did not do that initially, did they? That is the reason for CHANGING THE RULES as they lack FORESIGHT.

 

No. They are not that smart. That is evidential. It would be much different than it is if they had some semblance of brilliance.

 

And if you believe them to be smart then they have you right where they want you, buffaloed and confused.

 

Play within the rules and outsmart them. We don't have that much time left anyway and you can go to your grave knowing that you played the game HONORABLY...in that style which escapes far too many.

 

We are all dead anyway as the Human Race will become extinct.

 

(That includes them. They have sown the seed of their own destruction. Real fucking smart, eh?)

 

But junk away...Do not think about what I wrote, please do not.

 

Do not engage. Why bother?

 

 

Sun, 06/21/2015 - 16:38 | 6219890 Billy the Poet
Billy the Poet's picture

I would submit that the bankers couldn't create a system in which they stay on top forever because that is an unattainable goal. They could fool most individuals forever if that's what it took but that tactic alone can't secure the prize. Despite what people say they will always act in what they perceive to be in their interest. They will find loopholes and exploit unintentional niches created by the very regulations meant to ensnare them. This is how living things evolve if they want to remain alive.

And because top down systems always reach a point where it is obvious to a growing number of individuals that the elites are gorging themselves at the expense of everyone else we end up with cycles in which the tree must occasionally be watered.

Sun, 06/21/2015 - 20:11 | 6220450 847328_3527
847328_3527's picture

Miffed, you have a point there. "Playing by the rules," is for the little people, according to Bankers.

Mon, 06/22/2015 - 06:06 | 6221216 Trucker Glock
Trucker Glock's picture

And, according to law enforcement and prosecutors, from the Attorney General on down.  And .gov regulators.  And politicians.  And...

Mon, 06/22/2015 - 07:52 | 6221330 Tall Tom
Tall Tom's picture

Miffed is very clever and enjoys challenges. She can skirt the rules.

 

Personally I take it as a challenge and have some fun with it,

Mon, 06/22/2015 - 08:46 | 6221435 Tall Tom
Tall Tom's picture

I would submit that the bankers couldn't create a system in which they stay on top forever because that is an unattainable goal.

 

I agree. But if that is so obvious to both you and I then why in the hell are they so stupid enough to even try it repeatedly?

 

The definition of insanity is repeating the same experiment and expecting a different result. History is replete with lessons from the past of Empires gained and lost.

 

Perhaps it is time to move on from the failed paradigm and try something else?

 

Yet it seems that they are too self consumed with greed and power to think clearly and attempt something else which may be sustainable.

 

This is the reason that History rhymes...Myopia combined with Bitemporal Hemianopia, both debilitating forms of blindness, a profound LACK OF VISION.

 

If they were truly clever then they'd have the VISION in order to affect a CHANGE from the failures of the past.

 

Now I know that Miffed is very clever from reading what she posts here.

 

I can GUARANTEE that she has more Brain Power than any Bankster.

 

So she needs to have some fun with it.

 

Use their own rules to fuck with them.

 

 

Mon, 06/22/2015 - 11:18 | 6221889 Billy the Poet
Billy the Poet's picture

The elites are definitely not as elite as they'd like to think they are. Their program can bring great wealth for a time, plateau and then eventually fail dramatically. Like low class grifters they will simply try to slip out of town at the last moment leaving us with the mess.

Waiting for the system to fail before retaking the reigns seems to be the only choice for us but it remains a very dangerous choice as the damage being done in the meantime may in some cases be irreversible. They're killing millions and the dead will not return.

Sun, 06/21/2015 - 22:41 | 6220818 sleigher
sleigher's picture

"If you really believe that Nuclear Wars are survivable then you are just as nuts as they are. And yes it will go to a Hot War over this. And nobody wins a Nuclear War...NOBODY."

 

Which raises the question, if indeed it does go hot as you attest, where will said elites hide for 100-10K years while the dust settles.  Don't get me wrong, I think I agree with you.  This can only end badly and really it is a question of degrees of badness.  But as far as I know they don't have bunkers on mars yet. (Maybe they do?)  Are they gonna just not nuke Australia and New Zealand and all go live there?  

"(That includes them. They have sown the seed of their own destruction. Real fucking smart, eh?)"

 

Do you really think that?  They are gonna nuke themselves because they can't win at money/control/emperor of the world?


Mon, 06/22/2015 - 03:10 | 6221130 bid the soldier...
bid the soldiers shoot's picture

Righto

 

After a few score years in Oceania, the peeps will wish there had been a nuclear war.

But no.  The super rich wing (12 or 13 figures) of TPTB will black ball one.

Mon, 06/22/2015 - 03:25 | 6221145 MonetaryApostate
MonetaryApostate's picture

TPTB are expecting the nuclear holocaust, so they've dug DEEP bunkers to watch the fireworks show...  :/

 

I'm afraid the rest of the world is completely & undeniably fuxored for sure...

Mon, 06/22/2015 - 15:01 | 6222786 bid the soldier...
bid the soldiers shoot's picture

the super rich love to be seen getting in their custom Bugattis, boarding their jets and mooring off Monaco in their indescribable yachts.

They'd never nuke their audience.  Why be rich if there's no one poor around to see you?

Mon, 06/22/2015 - 09:09 | 6221493 Tall Tom
Tall Tom's picture

Do you really think that?  They are gonna nuke themselves because they can't win at money/control/emperor of the world?

 

 

I have not met a man who owned a tool which he elected not to use. Yes. When it threatens their own existence in the style to which they have become accustomed then they will use the Nukes.

 

Will you use a gun to defend your property? I will. I am not blaming you. I am just pointing it out. That is the reason for owning the weapon in the first place.

 

If China were to Nuke the USA then the USA will retailiate overwhelmingly. That is what the protocol of MAD (Mutually Assured Destruction) means.

 

Yes we will destroy the entire God Damned Planet if we are nuked. It is woven into our own Political and Military Doctrines. It is both basic and profound.

 

Ever hear of Aesop's Fable of the Dog in the Manger?

 

THe dog was so angered by his lack of food that he defended the hay in the manger that would allow any of the other animals to eat rather than go out and hunt down some food.

 

That is Human Nature. If I cannot have it then neither shall you. The drama is played out on the microcosm when a man kills another for his wallet. IT is played out when a man kills another over a woman..."HIS woman" as if the woman were a possession, a thing, without her own agenda, her own accord, and totally unable to act volitionally.

 

And this prevalent attitude can be elevated to abstract concepts such as control and power in the macrocosm.

 

We have seen and experienced this throughout all of Human History with wars of conquest throughout the centuries.

 

It is different this time as we now have the ability to annihilate ourselves.

 

Unless there is a profound change in Human Nature, in underlying attitudes, then we are also doomed to myopic self destruction. And so the story goes...

 

And I do not see that change, even here expressed upon the comments of Zerohedge, many here who have been enlightened to the ugly truth behind the facade of civilization.

 

I have no hope for this. None whatsoever.

Mon, 06/22/2015 - 17:19 | 6223324 bid the soldier...
bid the soldiers shoot's picture

A word of advice, my friend

Entrapment

there are a half dozen Russians in American prisons because they offered to buy items that are illegal to own in the US.  These transactions took place in foreign countries and the sellers were foreign nationals acting as agents for the NSA/FBI/CIA.

just sayin

 

Sun, 06/21/2015 - 14:19 | 6219561 DogOfSinope
DogOfSinope's picture

...when it changes it does so quickly, and the impossible becomes the inevitable without ever having been probable.

Sun, 06/21/2015 - 15:06 | 6219651 Billy the Poet
Billy the Poet's picture

Perceptive, succinct and artful. Well done.

Wanna get hitched, buddy?

Sun, 06/21/2015 - 14:14 | 6219548 Bokkenrijder
Bokkenrijder's picture

Yawn, more typical ZH scaremongering.

After the "Lehman weekend" that did not happen, and ahead of a "Greek capital controls Monday" that most probabaly will not happen, we are now supposed to rush to the ATM's and trigger a bankrun?

Sun, 06/21/2015 - 14:21 | 6219570 DetectiveStern
DetectiveStern's picture

I forgot that today is Monday. My boss is gonna be pissing blood when I show up tomorrow.

Sun, 06/21/2015 - 14:50 | 6219620 Tall Tom
Tall Tom's picture

we are now supposed to rush to the ATM's and trigger a bankrun?

 

Hey. Good strategy. Thanks.

 

Anything that you can do to CRASH THIS MARKET is in YOUR BEST INTERESTS. The time is NOW.

Sun, 06/21/2015 - 15:19 | 6219684 DogOfSinope
DogOfSinope's picture

Robbing banks as a career path - that's where the money is! ;-)

Sun, 06/21/2015 - 16:26 | 6219867 Tall Tom
Tall Tom's picture

Within the rules.

Sun, 06/21/2015 - 22:56 | 6220839 sleigher
sleigher's picture

You should probably just rob Staples and Office Depot as the blank paper will probably be worth more in the long run.

Sun, 06/21/2015 - 16:31 | 6219879 frankly scarlet
frankly scarlet's picture

Bokken..., Yes I read somewhere that the ECB sent along another 2B Euros to keep Greek banks in cash for a few more days....

Sun, 06/21/2015 - 14:05 | 6219527 Zandalf
Zandalf's picture

During hurricane Sandy I noticed that potato chips dissappeared from store shelves quicker than almost anything else..... drag is, is that they have a somewhat short shelf life.... good timing is: fresh chips!

Sun, 06/21/2015 - 14:17 | 6219557 Anusocracy
Anusocracy's picture

I got out the sewing machine and made up a copy of the local police uniform.

That's so I can help shoot the criminals when the SHTF. The real criminals.

On the other hand, moving to Chile makes a lot of sense.

Sun, 06/21/2015 - 15:46 | 6219758 nc551
nc551's picture

Be careful dressing like a criminal, you might be mistaken for one.

Sun, 06/21/2015 - 14:41 | 6219602 wendigo
wendigo's picture

It's the oil in em. Goes rancid. Can't store them long term, I've tried. 

 

For long term storage of fats consider coconut oil and spam. 

Sun, 06/21/2015 - 15:00 | 6219625 tc06rtw
tc06rtw's picture

 
 … the Breakfast of Champions… 

Sun, 06/21/2015 - 15:11 | 6219664 Billy the Poet
Billy the Poet's picture

 

 

“The things other people have put into my head, at any rate, do not fit together nicely, are often useless and ugly, are out of proportion with one another, are out of proportion with life as it really is outside my head.”  -- Kurt Vonnegut, Breakfast of Champions

Sun, 06/21/2015 - 21:06 | 6220609 BarkingCat
BarkingCat's picture

I tried storing young virgin girls.
Those too have shelf life. Given enough time they turn into old nags.

Sun, 06/21/2015 - 15:33 | 6219719 richiebaby
richiebaby's picture

Every time I try to hold all cash, I blow it on booze, coke and hookers

Sun, 06/21/2015 - 15:59 | 6219790 e_goldstein
e_goldstein's picture

...and the rest of it you waste.

Sun, 06/21/2015 - 18:31 | 6220193 fiftybagger
fiftybagger's picture

You forgot the casino

Sun, 06/21/2015 - 21:28 | 6220659 SilverFish
SilverFish's picture

Be it winner or loser, nobody forgets the casino.

Mon, 06/22/2015 - 02:11 | 6221058 Kirk2NCC1701
Kirk2NCC1701's picture

Just heard on German radio news (Monday, 0800 hr MET), that the German FinMin sees the latest Greek proposal as a "Good basis for progress".

IOW... Somebody's gonna cave: either Germany will bend backwards, or Greece will bend over forwards, for an Accommodation. 

Sun, 06/21/2015 - 13:26 | 6219424 Latitude25
Latitude25's picture

He who panics first panics best

Sun, 06/21/2015 - 14:03 | 6219524 Gordon Freeman
Gordon Freeman's picture

I guess it wasn't that Fidelity--oh, that tricky TD! he got me to look!

Sun, 06/21/2015 - 16:14 | 6219821 tenpanhandle
tenpanhandle's picture

"He who panics first panics best":  While that's a fun saying, it is absolutly untrue.  Panic should be entered into as if you were a contestent on the "Price is Right".  You want to get as close to the right time as possible without going over.  Go over you automatically lose. Panic way early you lose also.  I know this by experience.

However, with that said, I think its getting to be time.

Sun, 06/21/2015 - 17:34 | 6220039 willwork4food
willwork4food's picture

Yup, I can feel it too.

Mon, 06/22/2015 - 07:03 | 6221253 Socratic Dog
Socratic Dog's picture

I've been feeling it since 2009.  Yet somehow I'm feeling it more now.  Friday I went out for a stores replenishment, just in case. 

Well, I've been wrong six years on the trot now.  7th year lucky?

Sun, 06/21/2015 - 13:27 | 6219425 trulz4lulz
trulz4lulz's picture

I have a small amount of silver. Does that count?

Sun, 06/21/2015 - 13:30 | 6219427 JustObserving
JustObserving's picture

Not according to Yellen.

But the Indians and the Chinese will be happy to buy it from you:

Indian Silver Demand Explodes to US Silver Owners’ Delight

June 11, 2015

http://www.goldcore.com/us/gold-blog/indian-silver-demand-explodes-to-us...

Sun, 06/21/2015 - 13:34 | 6219443 trulz4lulz
trulz4lulz's picture

I'll keep it thank you very much! I'm just watching my garden grow. I have some tomatoes near six foot right now. Pumpkins are nice and healthy too. Going to turn the compost then head off to work tonight.

Long; land, water, seeds and know how.

Sun, 06/21/2015 - 13:51 | 6219491 Billy the Poet
Billy the Poet's picture

Folks probably hear the phrases, "Hi Ho!" and "Ho, ho, ho." quite a bit around your place.

 

For the young ones:

https://www.youtube.com/watch?v=QCO6smQrjJ8

https://www.youtube.com/watch?v=Q8ilBsr9n3o

Sun, 06/21/2015 - 13:52 | 6219497 Son of Loki
Son of Loki's picture

I'm also loading up with hundreds of loaves of bread and sutffing/storing them in the mattress ... to sell as "Bread Helmets" on Ebay when the SHTF.

Mon, 06/22/2015 - 02:55 | 6221109 bid the soldier...
bid the soldiers shoot's picture

It appears you're short fun, unless six foot tomatoes do something I never thought of.

Sun, 06/21/2015 - 13:35 | 6219446 trulz4lulz
trulz4lulz's picture

Down voted myself to fat fingers and a tablet. In case people are keeping score.

Sun, 06/21/2015 - 13:47 | 6219476 Citxmech
Citxmech's picture

Sure, but keep trying to turn that small amount into a larger amount.

Sun, 06/21/2015 - 13:46 | 6219428 Bighorn_100b
Bighorn_100b's picture

Already done, done, and done. Looks like I was to early.

Edit: have had no debt for over 10 years.

If I didn't smoke and drink I would be a millionaire by now.

Sun, 06/21/2015 - 13:47 | 6219477 Winston Churchill
Winston Churchill's picture

Crack is expensive.

Mon, 06/22/2015 - 01:37 | 6221022 Kirk2NCC1701
Kirk2NCC1701's picture

It depends on whose crack it is.

;-)

Sun, 06/21/2015 - 15:45 | 6219755 TheMeatTrapper
TheMeatTrapper's picture

I blew most of my money on women and booze. I wasted the rest.

Sun, 06/21/2015 - 13:30 | 6219429 Drain Bamage
Drain Bamage's picture

The dude's name is "Spreadbury".  I did that last night. 

Sun, 06/21/2015 - 13:31 | 6219433 DirkDiggler11
DirkDiggler11's picture

Welcome to the party Mr Ian Spreadburrymyheadupmyass. We hope you enjoy the show ..

Sun, 06/21/2015 - 13:33 | 6219438 SilverDoctors
SilverDoctors's picture

You'll know the writing is on the wall when new billionaire Jamie D. starts liquidating his JPM shares and options...

Sun, 06/21/2015 - 16:18 | 6219847 tenpanhandle
tenpanhandle's picture

If you don't think that he has shorted all his shares and bought bullion then you don't know dick...I mean Jamie.

Sun, 06/21/2015 - 13:34 | 6219442 VWAndy
VWAndy's picture

Fiat as a safe haven? With all this noise of going cashless.

Sun, 06/21/2015 - 13:36 | 6219448 wstrub
wstrub's picture

Yes, then they do the re-set to devalue all cash.

Sun, 06/21/2015 - 13:38 | 6219451 New_Meat
New_Meat's picture

"An unusual suggestion from a mainstream fund manager."

Dude's gonna' hav'ta turn in his "reasonable man" card.  Doubt he ever was fiduciary.

- Ned


Sun, 06/21/2015 - 13:51 | 6219492 DirkDiggler11
DirkDiggler11's picture

Yea, probably a good idea for Spreadburrymyheadupmyass to avoid tall buildings and nail guns for a while too. Wouldn't want to end up suicided or shitgummed after all ....

Sun, 06/21/2015 - 13:55 | 6219507 Billy the Poet
Billy the Poet's picture

Bizarro world isn't much fun but it is predictable.

Sun, 06/21/2015 - 13:47 | 6219464 The Steaksmith
The Steaksmith's picture

I'm waiting for the Harriet Tubman $10 bill & the Caitlyn Jenner $3 bill before I start hoarding cash because I object to these 'terrorist', gun shootin', white heterosexual male portraits on my currency.

Sun, 06/21/2015 - 13:57 | 6219511 Billy the Poet
Billy the Poet's picture

I've always preferred Miss Liberty.

Sun, 06/21/2015 - 14:05 | 6219530 The Steaksmith
The Steaksmith's picture

Well then, by context of your statement, it would appears that 'LIBERTY' is female.

Sun, 06/21/2015 - 14:24 | 6219576 Billy the Poet
Billy the Poet's picture

Well that ain't the girl from Ipanema strolling across the face of a Walking Liberty.

Sun, 06/21/2015 - 15:02 | 6219645 Tall Tom
Tall Tom's picture

And Jesus asked the Pharisees, "Whose inscription is upon that coin?"

 

The Pharisees replied "Caesar".

 

Then Jesus replied, "Then render unto Caesar that which is Caesar's and to God that which is God's."

 

Since our DEAD Caesars are inscribed upon our currency then it is that which shall be rendered unto Caesar.

 

Since LADY LIBERTY is on our CURRENT Gold and Silver Coin then it is to LIBERTY that our dues are to be paid.

 

Understand? What does the currency represent but enslavement to the Caesars as they are DEBTOR's NOTES?

 

On the other hand the Gold and Silver Coins represent LIBERTY from that enslavement as they are without counterparty risk.

 

That was not done by accident or oversight. .

Sun, 06/21/2015 - 15:14 | 6219673 Billy the Poet
Billy the Poet's picture

Road to Roota?

Sun, 06/21/2015 - 15:44 | 6219750 Tall Tom
Tall Tom's picture

While I am aware of Bix Weir and the Road to Roota Theory, as a Coin Collector, I have been aware that Lady Liberty was incrementally removed from the Business Strikes, the coins intended for circulation, and replaced with our Dead Caesars since the advent of the Federal Reserve.

 

The test bed coin to see if there would be an outcry from the public happened in 1909 with the introduction of the Lincoln Cent and removal of the Indian Princess on the Indian Cent.

 

Then Lady Liberty was replaced by an American Indian Warrior on the US Nickel in 1913 with no public outcry.

 

The US Mint was so sensitive to the Public Outcry that when they introduced the 1916 Standing Liberty with a Bare Breast (Full Nipple) that in 1917 they redesigned and plut a Chain Mall Blouse over her Breast...because the Public felt that it was pornographic.

 

(Even Atty. General John Ashcroft, in the George Bush Administration, in the beginning of the 21st Century mind you, draped an American Flag over the bare breast of the statue in the Department of Justice, the same statue from which the coin had been designed. Now that is absolutely NUTS!!! But it happened.)

 

Lady Liberty was removed from the US Quarter in 1932 with another American Caesar, George Washington, who is still inscribed upon our coins today.

 

In 1945 President Roosevelt died. Since he had Polio and was a backer of the March of Dimes the US Mint removed Lady Liberty (The "Mercury Dime" which is officially knwn as the Winged Liberty design.) from the face of that denomination and replaced that with FDR's image, a tribute to another Dead Caesar.

 

Fianally in 1947 the Walking Liberty was removed from the Half Dollar and replaced with Ben Franklin, another dead caesar.

 

When the Silver Dollar was reintroduced in 1971 it was not reintroduced with an image of Lady Liberty but that of Dwight Eisenhower, another Dead Caesar.

 

Thus it was completed and it took about a Half a Century....Two and a half Generations...incrementally and insidiously.

 

People forgot what money was and what money is supposed to represent.

 

Money, real money, is real wealth and NOT DEBT.

 

When one is indebted then one becomes enslaved to the creditor, the antithesis of Liberty.

 

And far too many in our public have no clue as to what our entire nation was established upon and thus are content to be enslaved. That is what is very, very tragic.

Sun, 06/21/2015 - 16:01 | 6219783 Billy the Poet
Billy the Poet's picture

I always liked the liberty coins because they were far more beautiful than the dead president ones and also because they were older which made my mind reel with thoughts of people and days gone by. Great fun.

Sun, 06/21/2015 - 16:01 | 6219788 Billy the Poet
Billy the Poet's picture

Double strike.

Sun, 06/21/2015 - 16:46 | 6219861 Miss Expectations
Miss Expectations's picture

They've killed the Goddesses.  Look for a whore or a murderess on the $10.00 bill.

EDIT:  Here's MAAT (Goddess of Truth and Justice)

http://www.maatinus.com/Nguzo%20Saba/maatprn.htm

Sun, 06/21/2015 - 15:22 | 6219688 DutchBoy2015
DutchBoy2015's picture

Anti-Semite.   Don't you know that God chose Jews to control all the worlds money?

Mon, 06/22/2015 - 01:45 | 6221034 Kirk2NCC1701
Kirk2NCC1701's picture

My God is not a Middle Eastern desert god, who talks to semi-literate animal herders of questionable hygiene and bad temper. 

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