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"I Am Jim Rogers And I Support Ron Paul"

Tyler Durden's picture





 

Ron Paul has another illustrious supporter - Jim Rogers. The Quantum fund co-founder, who has been spot on about pretty much everything for the past 3 years (see Roubini Versus Rogers Is Right Debate for 2010: Investor Jim Rogers thinks gold will double to at least $2,000 an ounce. Economist Nouriel Roubini says that’s “utter nonsense.” As these well-known market personalities duke it out, they’re doing us a favor by highlighting a critical debate: Which is the bigger threat -- inflation or deflation?), not to mention gold (to the amusement of such Keynesian soundbites recorded for posterity as the following: "Maybe it will reach $1,100 or so but $1,500 or $2,000 is nonsense"), and especially inflation (perhaps the only thing that will prompt a chuckle out of Gadaffi and Mubarak these days is someone telling them that their multi-decade reigns are over due to hyperdeflation and plunging food prices), was caught on tape voicing his endorsement of the only sane person who can possibly do something for this country. "In this election if Ron Paul gets anywhere near the nomination I would certainly support him. He is the only one that I've seen in American politics that seems to have a clue about what's going on." Zero Hedge agrees on all counts.

h/t Boiler Room

 


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Sat, 08/27/2011 - 13:26 | Link to Comment Ramboy
Ramboy's picture

If Ron Paul got elected, gold would go to zero.

Sat, 08/27/2011 - 13:27 | Link to Comment koaj
koaj's picture

most of the market for gold is in jewelry, not currency

who's to say gold would be the currency anyway? why not silver? copper? pig shit? as long as governments and banking cartels cant devalue it at will and rob citizens who cares what the next currency is

Sat, 08/27/2011 - 13:29 | Link to Comment Ramboy
Ramboy's picture

Ron Paul is all about strong dollar policy.  Wake up.  

Gold bulls dream of unending money printing.

Sat, 08/27/2011 - 13:33 | Link to Comment koaj
koaj's picture

but you dont know for certain what the next currency will be backed by if anything. 5000 years of economic law have told us gold but at times in world history salt was more valuable

Sat, 08/27/2011 - 13:36 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Did Rogers out himself at a AA meeting?

Part of the 12 step program.

Sat, 08/27/2011 - 13:49 | Link to Comment Ramboy
Ramboy's picture

Rogers supports Ron Paul out of moral obligation as if to say he isn't an all out anarchist hoping for financial armageddon.  Having said that, Rogers also would love unending money printing to support his long gold and agriculture positions.  He also knows that Ron Paul will NEVER win.  as he was quoted as saying several years ago.

 

Sat, 08/27/2011 - 13:57 | Link to Comment SilverIsKing
SilverIsKing's picture

So I suppose what you are saying then is that Gold would be available for free.  Is that what you mean by Gold going to zero?  If not, please explain.  Thanks.

Sat, 08/27/2011 - 14:11 | Link to Comment spiral_eyes
spiral_eyes's picture

we ron paul supporters need to make sure keynesianism is fully discredited before ron paul gets into office — it's time for obama to appoint krugman as treasury secretary, and BRING ON ALL THE STIMULUS POSSIBLE. gold going to at least $3,000 an ounce, no recovery, and krugman discredited. what more can we ask for?

write to obama, and all major newspapers. tell them we need more stimulus. tell them ONLY PAUL KRUGMAN CAN SAVE US :D

http://azizonomics.com/2011/08/27/keynes-bernanke-krugman/ 

Sat, 08/27/2011 - 14:32 | Link to Comment wanklord
wanklord's picture

By appealing to tons of bullshit about the Constitution and other patriotic crap, Congressman Ron Paul is able to seduce his brute and ignorant constituency while doing nothing at all in Congress (a clever way to make easy money). He is just part of the establishment while pretending to be a "genuine patriot." Moreover, Dr. Paul is also a mediocre version of one of Leo Strauss' categories of society: the Gentlemen

The gentlemen, are lovers of honour and glory. They are the most ingratiating towards the conventions of their society – that is, the illusions of the cave. They are true believers in God, honour, and moral imperatives. They are ready and willing to embark on acts of great courage and self-sacrifice at a moment's notice.

Besides that, Americans are a bunch of stupid animals easy to manipulate and subdue. The sooner the US economy collapses the better, so these brutes will finally learn NOT to live beyond their means.

Sat, 08/27/2011 - 14:40 | Link to Comment Bobbyrib
Bobbyrib's picture

All Anglos basically rule the same.

Sun, 08/28/2011 - 11:30 | Link to Comment JW n FL
JW n FL's picture

 

 

Upcoming US presidential elections-On the Edge with Max keiser-08-26-2011

From: PressTVGlobalNews | Aug 27, 2011 | 6,691 views Loading... http://www.presstv.com/Program/196021.html

In this edition of On the Edge, Max Keiser interviews Alex Jones from infowars.com.

He talks about Ron Paul's bid for 2012 presidential elections.

Sat, 08/27/2011 - 14:45 | Link to Comment tmosley
tmosley's picture

Ad hominem, ad hominem, and...ad hominem.

Yup, that's all the Paul detractors got.

Sat, 08/27/2011 - 15:18 | Link to Comment snowball777
snowball777's picture

Federal spending in anti-government Rep. Ron Paul’s (R-TX) district has quadrupled since 1999 to more than $4 billion, making Texas’ 14th congressional district one of the highest per-capita federal spenders in the country. With $14,707 spent per resident annually, it is clear that Paul’s constant bemoaning of overly-indulgent government spending is nothing but empty rhetoric used to rouse political support for his presidential bid.

Sat, 08/27/2011 - 15:42 | Link to Comment azusgm
azusgm's picture

Ron Paul has said that if his constituents request legislation, he throws it into the hopper to allow it to be debated and voted on one way or the other. He also says that earmarks are ways for the Congress to direct how the money is spent rather than writing a blank check to the executive branch.

Sat, 08/27/2011 - 16:03 | Link to Comment macholatte
macholatte's picture

it is clear that Paul’s constant bemoaning of overly-indulgent government spending is nothing but empty rhetoric

 

Your remark is based upon the premise that Paul is the ONLY person in the Congress representing Texas. You're going to have to do better than that.

Sat, 08/27/2011 - 19:01 | Link to Comment snowball777
snowball777's picture

Is someone else representing his district?

Is he not responsible for the legislation that he proposes?

Sat, 08/27/2011 - 20:53 | Link to Comment tmosley
tmosley's picture

So you would have preferred the President spend that money on more death camps for brown people?  Maybe another secret war?  Or perhaps you'd prefer that he arm all the TSA agents with giant dildos?

Earmarks *gasp* redirect spending that is going to happen anyways.  He could direct a trillion dollars into his district and it wouldn't have an effect on the budget.  RP does NOT introduce new spending bills.  

But hey, fuck em, anyways, right?  Cause the guys in charge now are totally awesome.

Sat, 08/27/2011 - 23:00 | Link to Comment snowball777
snowball777's picture

No, I'd prefer that people who represent themselves as stalwarts of conservatism not behave hypocritically.

I didn't vote for the asshole that gave as TSA or believe that the illusion of security justifies the expense or added government jobs.

 RP definitely votes on appropriations legislation (unless he gave up his position in the house since last I checked).

You'll need something better than "the other guys were doing it too" gradeschool logic.

Sun, 08/28/2011 - 13:17 | Link to Comment FlyOverCountryBoy
FlyOverCountryBoy's picture

Actually, Paul has not voted for appropriations legislation for years (maybe decades).  He doesn't approve of most of the budget, so he votes against it.  Once the budget is set, however, that the money is spent.  What is not earmarked is given to the executive branch (Obama and his leftist thugs) to spend.  So, by earmarking Paul keeps at least some money out of the hands of that nut in the White House.  That is pretty patriotic, if you ask me.

 

Sat, 08/27/2011 - 16:09 | Link to Comment Thomas
Thomas's picture

I am a huge RP fan and an official endorser on his previous (maybe current, haven't checked) web site. With that said, his chances are not high and he is getting old. If I listen to his presentations now versus 4 years ago, there is a loss of something. It comes off as sounding more like a politician and less like Ron Paul. He goes off message a little. With all that said, I believe RP and his message. I also believe that gold would go up not down because of a move toward the center of the geopolitical center. 

Here's my one key message: Don't buy the argument that a vote for [fill in the blank] is a wasted vote. Unless your vote actually makes the difference in the entire election, you are voting your conscience and you are standing up and being counted. I would vote for ANY third party candidate over two mediocre mainstream candidates simply to be counted as dissatisfied. 

 

Go Ron. Go gold. To to hell the rest of those criminals in Washington and on Wall Street.

Sat, 08/27/2011 - 16:34 | Link to Comment RockyRacoon
RockyRacoon's picture

I'm 62 years old and Dr. Paul is the only politician who has gotten any of my money... several years running.   The idea of "unelectability" is not the issue.  I gave to allow him the power to spread the message.   Those who oppose him are for nothing, not against him.

Sat, 08/27/2011 - 18:04 | Link to Comment Thomas
Thomas's picture

That's why I gave him both my first and second political donation of my life.

Sat, 08/27/2011 - 21:50 | Link to Comment Sun Tsu
Sun Tsu's picture

Ditto! Supported Ron Paul the first time he ran - a patriot and medical doctor.

Sat, 08/27/2011 - 18:38 | Link to Comment Skid Marks
Skid Marks's picture

 I gave to allow him the power to spread the message.

Yup! And that makes it worthwhile.

Sat, 08/27/2011 - 19:28 | Link to Comment MsCreant
MsCreant's picture

I am not offended by your breasts, in fact they are pretty. I am offended by the pairing of your name "Skid Marks" with the breasts. It is not conceptually or artistically integrated. It hurts my breasts to think about it! (If you have ever had "road rash" you will follow my meaning). Your skid marks are probably the undies variety, I know, I should get over it. But you may not have thought about it like this. Just sayin'.

Some thoughts to consider.

Sat, 08/27/2011 - 21:16 | Link to Comment janus
janus's picture

i think i figured it out: you grew up with multiple brothers!

tell me i'm wrong, mscreant.

Sun, 08/28/2011 - 00:15 | Link to Comment MsCreant
MsCreant's picture

Sorry sweetness,

I am an only!

Sun, 08/28/2011 - 00:37 | Link to Comment janus
janus's picture

sugar,

i may not know the sibling count among the creant chillins, but i can tell you this: i would never, ever use the word 'only' when describing you...the word has a definite limiting factor to it -- i tend to think of you as free from such fetters.  and if you ain't fully free yet, just know that janus always carrys a spare key.

i'm going to get to the bottom of this mystery; when i'm after something i never quit.

http://www.youtube.com/watch?v=Iz8ZRCDpIYg&playnext=1&list=PL54AA9120A76B51A6

and with the weight of a feather it tore into me,

janus

Sat, 08/27/2011 - 16:58 | Link to Comment FEDbuster
FEDbuster's picture

I am surprised by all the people who still value their gold in FRNs.  You should instead value everything in gold.  How much gasoline can you buy with an oz. of gold, how much does an average house costs in gold, how many gallons of milk, bags of rice, cases of soup can you buy with an oz of gold (or an oz. of silver).  Gold is the currency, how many FRNs you can get for it really doesn't matter.

Restore the Republic, Ron Paul 2012

or

Hasten the Collapse, OBAMA 2012

Sat, 08/27/2011 - 19:05 | Link to Comment snowball777
snowball777's picture

Throw a 1/10 oz gold coin down the next time you fill up outside of the deep south and see if you get any change back in silver; until that changes, gold won't be currency outside the confines of your head.

Sat, 08/27/2011 - 19:30 | Link to Comment MsCreant
MsCreant's picture

You don't have any gold? Do you not see it as insurance?

Sat, 08/27/2011 - 20:47 | Link to Comment snowball777
snowball777's picture

I see it as an inflation hedge, not currency, for the reasons stated above and others (like a lack of interest in bank panics).

 

Sat, 08/27/2011 - 19:41 | Link to Comment Michael
Michael's picture

Dont say that to the people on Ebay buying and selling it all day long.

Sat, 08/27/2011 - 23:02 | Link to Comment snowball777
snowball777's picture

If they're buying it, it's by definition not currency.

Sun, 08/28/2011 - 13:13 | Link to Comment RockyRacoon
RockyRacoon's picture

Which actually proves that the whole system is screwed.  Thank you for pointing that out.

Sat, 08/27/2011 - 20:01 | Link to Comment FEDbuster
FEDbuster's picture

The same case could be made for Euros, Yen, Swiss Francs, etc...  However you can use your own gold standard to value things (including FRNs).  The dollar will lose it's reserve currency status, but gold will maintain it's role as the ultimate reserve currency.  If gold becomes worthless, you better have your basics (water, food, shelter and the means to protect it) squared away.

Sat, 08/27/2011 - 20:56 | Link to Comment tmosley
tmosley's picture

Gold and silver aren't currency RIGHT NOW.  But they are money.  You would do well to learn the difference.

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

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

Sat, 08/27/2011 - 23:04 | Link to Comment snowball777
snowball777's picture

I'm fully aware of the difference between the two, thanks, but I'm not the one you need to convince.

Sun, 08/28/2011 - 00:42 | Link to Comment tmosley
tmosley's picture

I don't need to "convince" anyone, as I don't need gold or silver to be currency.  My purchasing power rises regardless.

Sun, 08/28/2011 - 01:27 | Link to Comment snowball777
snowball777's picture

You need people willing to take it for goods and services (as per my post above) or your purchasing power is non-existent.

You're not one of those "I can pay for healthcare with chickens" people are ya?

Sun, 08/28/2011 - 10:20 | Link to Comment tmosley
tmosley's picture

Wait, wait, wait, so now you are trying to tell me that gold doesn't have any purchasing power?

Get the fuck out of here.

Seriously, what the fuck are you talking about?  There ALWAYS HAS BEEN, and ALWAYS WILL BE a market for gold.  You just have to use a money changer, same as if you had foreign currency.

Stop acting like an idiot.

Sun, 08/28/2011 - 02:27 | Link to Comment StychoKiller
StychoKiller's picture

The Great Implosion™ will "convince" everyone that Fiat is worthless paper, where they go from there is up to them!

Sat, 08/27/2011 - 21:08 | Link to Comment smlbizman
smlbizman's picture

the problem with you snowball is you dont the difference between money and currency......

Sat, 08/27/2011 - 17:24 | Link to Comment monoloco
monoloco's picture

A vote for anyone BUT Ron Paul is a wasted vote, may as well throw a dart at the ballot because the rest of the fucktards will just maintain the status quo. The only way that RP will get on the ballot is for disgruntled libertarian leaning Democrats and independents to register as Republicans to vote for him in the Republican primaries. A vote for anyone else is a vote for more of the same Keynesian shit.

Sat, 08/27/2011 - 19:07 | Link to Comment snowball777
snowball777's picture

Tell me what RP will do, as President, to change "Keynesian" economic policy in the US.

Sat, 08/27/2011 - 19:48 | Link to Comment Crime of the Century
Crime of the Century's picture

Sell Mother Jones to Jim Rogers...

Sat, 08/27/2011 - 20:50 | Link to Comment snowball777
snowball777's picture

So nationalize them...that's not very libertarian...or something that can be done by the executive branch, for that matter.

Sat, 08/27/2011 - 20:58 | Link to Comment tmosley
tmosley's picture

He could reinstate EO 11110, for starters.

He has the power to move the military as he wishes.  He can bring them all home and end that Keynesian "stimulus".  Lots of simple things like that.

Sun, 08/28/2011 - 05:18 | Link to Comment e_goldstein
e_goldstein's picture

I'll bump you up.

Just hoping that this time he's not (as) controlled as he was last time.

 

Sat, 08/27/2011 - 18:20 | Link to Comment Tacos Rule
Tacos Rule's picture

You bring up some good information, but I agree with Paul on this one.  From the article you linked: Trying to justify his projects in a 2009 Fox News interview, Paul said, "If they are going to allot the money, I have a responsibility to represent my people."  I take this same attitude in my personal life.  For example, I would like it if my state tax dollars didn't go to first time homeowners to pay their closing costs, but I am taking advantage of the program right now.  I see it as the struggle between ideas and reality, having an idea of we want things to be, but accepting what currently is.  My money has already been taken, and the money alloted for the program(s) will be spent regardless of my participation, so why not get some of my money back?

Sat, 08/27/2011 - 19:35 | Link to Comment Michael
Michael's picture

Go fuck yourself.

I'm voting for Ron Paul. That's how Dr Paul wins.

Sat, 08/27/2011 - 20:51 | Link to Comment snowball777
snowball777's picture

No, he wins if enough delegates vote for him...best of luck convincing them with your artful sense of tact.

Sat, 08/27/2011 - 23:22 | Link to Comment Ying-Yang
Ying-Yang's picture

Snowball..... RP is a good choice against most shit bags running. Who is your shitbag of choice...?

Soak your head in the toilet and flush your thoughts a few times and get back to us.. Fight Club Bitch

Sun, 08/28/2011 - 01:31 | Link to Comment snowball777
snowball777's picture

My choice is non-participation. Besides, I've never lived anywhere that wasn't so gerrymandered beyond recognition that my vote wouldn't be a fart in the wind.

Sun, 08/28/2011 - 21:50 | Link to Comment chindit13
chindit13's picture

Have you ever pulled into a truck stop on a western Interstate late at night to use the loo?  If analogies are two sided, then you just made the argument FOR casting your vote.

Sun, 08/28/2011 - 01:33 | Link to Comment barkingbill
barkingbill's picture

so which government agency has you putting out these prepared little info-bites against Ron Paul? Could you make it any more obvious?

Sun, 08/28/2011 - 13:11 | Link to Comment FlyOverCountryBoy
FlyOverCountryBoy's picture

The whole uproar over earmarks is a gigantic scam, and you fell for it hook, line and sinker.  The budget is approved before any money is earmarked.  All money not earmarked goes to the Executive Branch.  In other words, if Ron Paul doesn't earmark some of the budget back to his constituents for roads, buildings, etc., Obama and his leftist thugs get to spend that money.  I agree with Ron Paul that all the budget should be earmarked, which would eliminate executive branch discretionary spending.  I also agree with Paul that the budget should be reduced to only constitutionally authorized expenditures.

 

Sat, 08/27/2011 - 15:30 | Link to Comment Blindweb
Blindweb's picture

Drury argues that Strauss teaches that "perpetual deception of the citizens by those in power is critical because they need to be led, and they need strong rulers to tell them what's good for them." Lol.   I don't even need to get into how sophmoric the philosophy of Strauss is.    It's beneath me to even waste my time learning his philosophy to tear it apart. Get back to me when you quote a higher level philosopher.


Ron Paul is rich I'd assume from both being a successful doctor and a good investor.  I know I know, you'll say he went into congress to not pass laws to make gold more valuable, or some dumb shit like that.

I  assume you must be of African American descent, Native American, or some other such people who didn't have a global empire.  I also assume you have some magically political system you would implement that is fair to everyone's disparate value systems

 

Zerohedge comments have gotten even worse than when I stopped commenting here months ago

 

 

Sat, 08/27/2011 - 19:33 | Link to Comment Michael
Michael's picture

Go fuck yourself. 

I'm voting for Ron Paul. That's how Dr Ron Paul wins.

Sun, 08/28/2011 - 08:54 | Link to Comment brew
brew's picture

you're a fucking douche...i've never seen a post by you that i've supported.  go away please...

Sun, 08/28/2011 - 22:38 | Link to Comment phyuckyiu
phyuckyiu's picture

@wanklord This is the same cut and paste bullshit response you gave us 2-3 days ago on the last Ron Paul article. Are you some TROLLFAILBOT?

Sun, 08/28/2011 - 04:07 | Link to Comment V10
V10's picture

Keynesianism discredited by it's failure?  Unlikely, at least officially.  The failure of Keynesianism will be blamed on not enough Keynesianism.

 

It's like the gambler with the fool-proof system, he just needs some more funds to keep going.  The winnings are going to start pouring in soon, you'll see.

Sat, 08/27/2011 - 15:15 | Link to Comment DosZap
DosZap's picture

Silver, @13:57

Dude, STOP,LOOK, n Listen..................

You have to realize( I know its difficult,because its ALWAYS been about the USA), BUT WE ARE IN A new paradigm,there are a few billion new folks on the planet that want what we have had,and they now have the coin to get it.

They are far more numerous than we are, and are in the beginning stages of wealth creation, and are buying HARD assets hand over fist.............there will,has always been a huge desire for Pm's.

It's just going to get larger..........................and far more expensive.

Sat, 08/27/2011 - 16:38 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Green for DZ.  It is very true we ARE in a new paradigm, in that the rest of the world (on the whole) is moving up vs. our moving down (relatively speaking).

Wealth creation in the BRICs is a reality.   Last couple of times I have been in Peru, a LOT of VW trucks (esp. cement mixers) have come in from Brazil...

I was on vacation, on a cruise.  LOTS of Chinese people onboard.  As well as Brazilians and some Russians.  And, interestingly, Indians as well as Europeans whos languages I could not even IDENTIFY!

It is a new paradigm, the question is, how much have the rules changed?  Gold seems to be part of the answer to us shrimps.

Sat, 08/27/2011 - 15:09 | Link to Comment Spitzer
Spitzer's picture

Fuck I have never seen such a cluster of brain dead posts in my life. Gold will go to $10,000 no matter who is elected.

Nothing can stop freegold.

Sat, 08/27/2011 - 16:41 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Green for you NY-er!

While I agree that freegold is likely, I cannot predict the future.  I have spent a lot more fiats for Au than I would have if not for FOFOA.  His case is powerful, and he builds it logically, brick by brick.  I sleep better with the physical...

I think freegold along the $10,000 - $60,000 lines is about right.  But, who the hell knows?

Stay safe if you are in NYC!

Sat, 08/27/2011 - 15:57 | Link to Comment macholatte
macholatte's picture

Rogers also would love unending money printing to support his long gold and agriculture positions.

 

I disagree. Having followed Rogers for a few years now he clearly has no desire to see the destruction of America and is smart enough to alter his investments accordingly.

Sat, 08/27/2011 - 18:00 | Link to Comment tsx500
tsx500's picture

Ramfag , if u are trying to appear like an ass , it's working . . . .

Sat, 08/27/2011 - 19:31 | Link to Comment Michael
Michael's picture

Go fuck yourself. 

I'm voting for Ron Paul. That's how Dr Ron Paul wins.

Sun, 08/28/2011 - 10:56 | Link to Comment AdahPrice
AdahPrice's picture

Correct me if I'm wrong, but you can't out yourself at an AA meeting, because there are always going to be people at the meeting who already know who you are, and who know you are an alcoholic because you are at the meeting.  Also, if you choose to say publicly, "I am an alcoholic", that is okay.  What is forbidden in AA is for you to say publicly, "this other person is an alcoholic".  THAT is what violates anonymity.  And, obviously, that works.  AA works.  AA works because its rules work, and its rules work because they are completely about one thing and only one thing: taking personal responsibility for your actions, for your choices each day.  And that is something that ALWAYS works.

Sat, 08/27/2011 - 14:28 | Link to Comment AldousHuxley
AldousHuxley's picture

IMF will give us SDR backed by gold. That's when dollar gets reset...technical bk

Sat, 08/27/2011 - 14:16 | Link to Comment jm
jm's picture

Are you kidding me?

This guy doesn't seem to care if the US defaults and wants to go back on the gold standard as far as I can tell. 

http://www.zerohedge.com/article/ron-paul-americas-aaa-rating-not-worth-...

 

Sat, 08/27/2011 - 14:36 | Link to Comment FreedomGuy
FreedomGuy's picture

NEWSFLASH: We are going to default anyway. It may be an actual default...unlikely because that is the honest way, or most likely through sustained inflation. Sound money, a minimal state and good economic (no Keynesian) theory is the answer.

Sat, 08/27/2011 - 14:56 | Link to Comment jm
jm's picture

The 10Y is 2.12%.  Pretty well-bid bankruptcy proceedings. 

Sound money and a minimal state is a good place to go from here, but not overnight.  We are far too screwed for that.  Sound money will put squatters in the street, and make a big chunk of those living paycheck to paycheck unemployed, putting even more out on the street in a vicious cycle.  Minimal government, well you can see the global riots as well as I. 

All economic theory is a pox.

Sat, 08/27/2011 - 15:01 | Link to Comment tmosley
tmosley's picture

The rate doesn't reveal the truth when the Fed buys 70+% of the issued debt, and other central banks buy the rest in return for the Fed buying their debt as well.

Sat, 08/27/2011 - 15:11 | Link to Comment AldousHuxley
AldousHuxley's picture

True, but US dollar is petrodollar....backed by Oil. As long as US military controls oil producers, world will keep buying the dollar. China and Iran are still too weak to take on US head on.

Also if Euro goes bust, then money will fly back into dollars. It is all relative.

 

Empires don't die suddenly but slowly. Give it another 100 years until Chinese setup their central bank on the moon.

Sat, 08/27/2011 - 15:37 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Empires don't die suddenly but slowly.

 

Tell that to Gorbachev.

Sat, 08/27/2011 - 23:59 | Link to Comment sun tzu
sun tzu's picture

The USSR was decaying for decades. Their infrastrucutre was crap, the average lifespan for men was 59. They were broke and the only thing that propped them up the last 20 years of their existence was their military and KGB. 

Sun, 08/28/2011 - 00:55 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

The USA has been decaying for decades. The infrastructure is crap, the average standard of living is lower than 40 years ago. It is broke and the only thing propping it up is the military and a deteriorating currency.

Sat, 08/27/2011 - 16:25 | Link to Comment Dick Fitz
Dick Fitz's picture

Empires DECLINE slowly, but die quickly. Once a tipping point is reached, the decline is dramatic and unstoppable.

It's like hyperinflation- one day the tipping point is reached, and people quickly lose faith in the currency, and within a short period the currency loses all value.

The US is at the knee of the curve, and even RP probably can't save it, but he can at least lay out a path to future prosperity.

Sat, 08/27/2011 - 22:12 | Link to Comment FreedomGuy
FreedomGuy's picture

Exactly! Even if RP loses, a likely outcome it is important that his ideas and message stand and remain visible. Most all the republicans will fail in there efforts to reduce government and balance the books because the do not truly disagree with a large powerful state. Taking spending back to 2008 or some other similar nonsense only delays the day of reckoning. As long as every agency, every parasitic program, every form of redistribution remain the state will continue to grow...even thrive with a small trim.

The only hope is someone who will offload the social obligations and actually eliminate whole agencies till we get back to a Constitutuional size. Ron Paul is the only one I trust to even attempt it.

Bush 1, Bush 2, Dole, McCain, Romney, Huntsman, etc., are all go-along-get-along Republicans who will continue the march left slightly slower than the (socialist) Democrat party. Better that Obama get reelected and bring
the end than a Republican who gives them cover and excuses. When the economic end comes a Ron Paul must be there with the alternative.

Sat, 08/27/2011 - 16:44 | Link to Comment tmosley
tmosley's picture

Incorrect.  ALL empires die suddenly.

And it is not possible to dictate economics with weaponry, no matter how advanced.  All who have tried have faced the same fate, growth of empire, then sudden collapse.

Sat, 08/27/2011 - 18:19 | Link to Comment Libertarians fo...
Libertarians for Prosperity's picture

 

 

Dude, you don't know shit about shit.  I'm not sure why you keep pretending to be an expert on stuff that you truly know nothing about.  Every day you're being called out (mostly by me) for bullshit, or not knowing fundamental facts about subjects you pretend to be fluent in. 

Here's a similar conversation you had last October with other ZH members about the economic collapse of "empires."   

You got skewered, then you divert the conversation slightly to try and sweep your ignorance under the rug.  Your ignorance was so obvious that no one wanted to pursue the conversation with you.

http://www.zerohedge.com/article/kyle-bass-hyperinflation-and-other-less-relevant-things#comment-630158

How's THAT for pro-tools?

 

Sat, 08/27/2011 - 20:09 | Link to Comment prole
prole's picture

It proves that you are an imbecile and a retard. And you missed your chance to smear RP (and Liberty) which is your only reason to get paid and be here anyway. Or was that you with the multiple anti-Paul trolls above?

Sat, 08/27/2011 - 21:08 | Link to Comment tmosley
tmosley's picture

I love how you claim that I don't know anything and divert attention from that "fact" by changing the subject, by diverting attention from the fact that you didn't present a counter-argument, and then changing the subject.

lol

Edit: also funny is the fact that you point to a conversation from 10 months ago, long before you registered, to find ONE totally irrelevant fact that I got wrong (which was totally tangential to the conversation--who gives a shit whether Byzantium spoke Greek or Latin?  We were talking about the causes of their collapse).  You must spend literally ALL DAY reading my posts, and that was ALL you could come up with!

"HURRR, U DUN NO WUT UR TALKIN' BOUT, U GOT SUMMIN RONG TEN MONTHS AGO, BUR!"

Sat, 08/27/2011 - 21:52 | Link to Comment OrestesPenthilu...
OrestesPenthilusQuintard's picture

tmosley just blew that sock puppet into the eye of the Irene hurricane.

Sat, 08/27/2011 - 22:21 | Link to Comment Libertarians fo...
Libertarians for Prosperity's picture

 

 

Cliff

Bullshit!  Don't pretend that it was a simple error about languages.

You got the entire argument wrong - your whole damn premise was wrong!  The Greek/Latin error was minor compared to your misunderstanding of why the Byzantine empire fell.  Yet there you were, lecturing everyone like you're some sort of Roman history buff, just as you are today.      

You routinely present yourself as an expert on the topic du jour, then get the most basic facts of the argument wrong. Only the dumbest doomer goons buy into your shit. 

Lastly, it takes me about 5 seconds to find what I'm looking for in your posts, whether last week or last year.  So this notion that I'm spending all day going through your posts is, as usual with you, pure bullshit. 

Whether it's the COMEX, or the CME, or margin hikes, peak oil, or Ron Paul, or whatever....  you just make shit up, while, at the same time, presenting yourself as some sort of authority on the matter.  So long as you continue to give people bad information, I'll continue to call you out.  Seems fair enough. 

 

Sun, 08/28/2011 - 00:01 | Link to Comment sun tzu
sun tzu's picture

Go fuck your mother, asshole troll

Sun, 08/28/2011 - 00:48 | Link to Comment tmosley
tmosley's picture

*Tells people their arguments are wrong, but not which part*

lol

So what, EXACTLY was I wrong about?  You think the the fact that their currency debasement started right before their collapse was just a coincidence?  You think their military adventurism did nothing to with it either?

What do YOU think?  Nothing.  Just the opposite of whatever I say.  You can't think for yourself.  So sad.

You "continue to call me out" with no facts.  Just baseless assertions, ad hominem, and outright lies.

Face it, you have lost.  Time for a new user name.

Sun, 08/28/2011 - 13:15 | Link to Comment greenbear
greenbear's picture

Tmosley continually pulverizes the best trolls taxpayer money can buy.  The troll with the Hitler moustache had to go through 10 months of posts (100's or 1000's!, I don't know I'm too lazy to check) to find one factual error.  Hilarious! 

 

Is there such a thing as a Troll Bot?  The first comments on this thread were made one second apart.  And the trolls were having a back and forth conversation with one or 2 seconds between comments and replies.  That's got to be some kind of a bot.

Sun, 08/28/2011 - 15:49 | Link to Comment MsCreant
MsCreant's picture

HFT=High Frequency Trolling.

Multiple accounts, opinion stuffing, multiple posts on low volume of participation, I think you are on to something there.

Your kitty is soooo cute, I would give it tuna, turkey, anything it wanted at all.

Mon, 08/29/2011 - 00:23 | Link to Comment greenbear
greenbear's picture

High Frequency Trolling.  That's good! 

 

Nice lady, kitty loves chinchilla. But vizcacha will do in a pinch =^..^=

Sat, 08/27/2011 - 15:35 | Link to Comment jm
jm's picture

I believe your statement is inaccurate.

Sat, 08/27/2011 - 16:11 | Link to Comment Thomas
Thomas's picture

Simple arithmetic tells us a default is coming (including inflation as a default). There is no arithmetically sound escape otherwise.

Sat, 08/27/2011 - 14:44 | Link to Comment Dr. Acula
Dr. Acula's picture

jm, government bonds are illegitimate contracts entering third parties and the unborn into slavery. The only right thing to do is to tear them up.

Also, I'm not sure why you are opposed to a gold standard. It is called for in the Constitution ("States shall only accept gold and silver as legal tender"). More importantly, it prevents the monetary manipulations that engender the disastrous boom-bust cycles as explained by ABCT (Austrian business cycle theory). Money is an economic good like any other, and there is no logical reason in economic science to have a central planning committee fix the quantity of dollars any more than the quantity of potatoes in existence should be fixed.

I think Ron Paul actually wants to give people freedom to trade in the currency of their choice, and to mint and trade coins of their choosing. He wants people to have actual freedom. This is what happens if you try to mint your own coins now: http://en.wikipedia.org/wiki/Liberty_dollar.

Sat, 08/27/2011 - 14:58 | Link to Comment jm
jm's picture

Look this kind of talk is reckless.  When you start tearing up contracts, your creditors proceed to tear you up.  Imagine the implosion if this country couldn't borrow.

Sat, 08/27/2011 - 15:01 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Yeah, the end of the welfare-warfare state would be so tragic.

Sat, 08/27/2011 - 15:32 | Link to Comment jm
jm's picture

Can't you see that it is unleashed chaos when done virtually overnight?  MANAGE A BAD SITUATION WHEREVER YOU CAN.

Imagine homeless, hungry, very angry people with no options get pulled off the teat then kicked in the ass.  You and I could be one of them given correlation risk.

Sat, 08/27/2011 - 15:49 | Link to Comment Temporalist
Temporalist's picture

"Imagine homeless, hungry, very angry people with no options"

Because you are pretending you don't see that every day right now so we must be doing something right?  Who has to imagine?

45 Million on SNAP

22% unemployed (going by Jon Williams Shadowstats)

Student loan debt greater than credit card debt.

 

Reality to jm...time to put the glass pipe down.

Sat, 08/27/2011 - 16:00 | Link to Comment jm
jm's picture

LOL.  Take away those welfare checks that you seem to consider as inconsequential and I guarantee those blinders will be permanently removed.

Thankfully this is just tosh.  I oppose the teabags because they sound a lot like you.

Sat, 08/27/2011 - 16:05 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

OK. I'll just keep paying out 50 percent of my wages to keep the winos and the warriors happy. It's worth it.

Sat, 08/27/2011 - 16:14 | Link to Comment jm
jm's picture

Those deprived of a safety net will make a way to get food and other needs one way or another.  Please take a look at the bigger perspective.  Everyone farts on and on so much about totalitarian infringements.  People will be begging for it as something superior to faceless gangs of looters that are cool with cracking your head open for what's in your pantry.

 

Sat, 08/27/2011 - 16:23 | Link to Comment CrockettAlmanac.com
CrockettAlmanac.com's picture

Exactly. Let's all be afraid of beggars and thieves and let our own families starve. That is the road to prosperity!

Sat, 08/27/2011 - 16:52 | Link to Comment Temporalist
Temporalist's picture

It seems to me the same people that don't see that increasing debt is the problem and it can't be fixed with more debt are the same people that don't understand the ideas of unsustainability and wealth disparity.

It is hypocritical to warn people of the mobs that are being created by the very system you are feeding and maintaining.  Maybe the Little Shop of Horrors is a way for people to relate better.  If you don't feed the monster it will die but if you keep feeding it it will consume you.

And related to that, the people that insist on being held hostage by this system seem to not realize that by allowing it to grow, exponentially more people are impacted than if the system were less prone to expansion.

I think the gold standard is similar to why some say eating with chopsticks is a healthier way to eat in that it sets a moderate pace to eating and one tends to eat less at a bite (although I've seen people shove in a lot of food with chopsticks); a gold standard or something akin, competing currencies as Ron Paul favors, as most detractors also don't mention or fail to understand, sets a pace to growth to prevent huge plummets in both reality and anticipations, a moderation in growth if you will.

Sat, 08/27/2011 - 16:59 | Link to Comment jm
jm's picture

Same binary, teabag thinking that never considers there are people who want to see real fundamental change to the course we are on, but have enough common sense to know that it wheh it is done overnight it will be invariably shoddy.

God save us from devotion to failed ideology and soundbytes.

Sat, 08/27/2011 - 19:07 | Link to Comment Temporalist
Temporalist's picture

You are the only one that has repeatedly said "overnight."  And the binary thinking is on your part thinking that people that are against massive debt and poor monetary policy can only be teaparty.  You are a continuous hypocrite it is more obvious with each post.  Stay scared and ignorant.

Fuck your icon is a yin-yang...what is more binary than that?

Mon, 08/29/2011 - 08:30 | Link to Comment jm
jm's picture

My first comment and thus the whole point of this thread is that Ron said the credit of the United States isn't worth saving.  It is worth saving and the"solutions" of these schmucks in office bring more harm than good. As i have said before it is like cutting your member off to spite an unfaithful wife.   

Yin-Yang is just what is on my surfboard and thankfully I didn't miss a bit of the action yesterday.

Sat, 08/27/2011 - 16:43 | Link to Comment RockyRacoon
RockyRacoon's picture

YOU pay to keep them placated.   I'll opt out, thank you.

Sat, 08/27/2011 - 17:12 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+ 1 Rocky.

I took $500 out of the ATM yesterday and $500 today.

Now that we are back and that a trickle of money has come in, I will buy a bit more gold.  Even at $1850 or wherever we are.  Gold is a way to opt out.

Mas oro, putaz!

Sat, 08/27/2011 - 19:04 | Link to Comment Founders Keeper
Founders Keeper's picture

[I oppose the teabags because they sound a lot like you.]---jm

"Teabags"?

I'm your huckleberry.

I agree.  Contractual obligations are serious matters. Let the law and the court room decide.

Above, you said, "MANAGE A BAD SITUATION WHEREVER YOU CAN."  IMO, the situation is bad BECAUSE it is being managed.

Above, you said, "Imagine the implosion if this country couldn't borrow."  IMO, the reason we are imploding is BECAUSE of the borrowing.

Above, you said, "Those deprived of a safety net will make a way to get food and other needs one way or another."  IMO, those folks will know of no other alternative but desperation BECAUSE of the safety net on which they've grown dependent and/or expect.

You see, you believe govt is the solution.  I believe govt is the problem---a necessary problem that should be limited and divided.

 

Sun, 08/28/2011 - 00:06 | Link to Comment sun tzu
sun tzu's picture

Stupid fucks like jm are part of the problem. It's the Joe biden way of thinking. We have to keep spending to keep from going bankrupt. They're too fucking stupid to see that running $1.3 trillion annual deficits will lead to his dreaded default and chaos within 10 years.

Mon, 08/29/2011 - 08:33 | Link to Comment jm
jm's picture

The government is not the solution, but neither are knee-jerk reactions to problems that have developed over decades.  They don't take into account thw downside only idealist notions of how it ought to work out.

Dependenccy is not something you can cutre overnight without introducing serious risk into the equation.

Sat, 08/27/2011 - 16:51 | Link to Comment A Nanny Moose
A Nanny Moose's picture

So your argument boils down to, "your money or your life?" Allow continued theft to keep the drug addicts quiet.

Perhaps you enjoy life on your knees. While you are down there, your masters are waiting to be serviced.

Sat, 08/27/2011 - 20:19 | Link to Comment prole
prole's picture

He's the one getting the free stuff. Welfare Queen thus the cheerleading for SSocialism.
We are the ones paying for it, thus our lack of enthusiasm for the whole scam.
And- notice he is pointing a gun in our face during the whole conversation. That is the "social contract."

Sat, 08/27/2011 - 15:04 | Link to Comment tmosley
tmosley's picture

Is that before or after RP cut the US expenditure in half by dismantling our military empire.

You don't fix the problems caused by selling your taxpayers into slavery by maintaining good relations with the slave buyers.  All that does is leave the temptation to sell them back into slavery later.

You cut the military back to its necessary role, then you can balance the budget.  With a balanced budget, you don't NEED to issue bonds.  We wouldn't fall apart any more than Iceland did.  In fact, we would do BETTER than they did, because we produce more real goods (namely food at this point, but manufacturing would quickly return as industrial regulations are rolled back).

Sat, 08/27/2011 - 16:48 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Ah, rationality.  Cut the spending, including military spending.

Industrial production would slowly return when people who still have capital (= money for investment) have CONFIDENCE that Uncle Sugar has sobered up.  Might be a long wait.

Ron Paul would speed things up, but, even thought I will give him money, I doubt TPTB will give him a fair shot.  In fact, I think they will do EVERYTHING they can should RP get a real shot ay being POTUS.

Sat, 08/27/2011 - 22:24 | Link to Comment FreedomGuy
FreedomGuy's picture

The illusory solution of just cutting the military and the collectivist state books will balance. Total BS! I have no problems pulling the military back to somensort of national defense. However transfer payments will still grow arithmetically and break the piggy bank. The welfare state must die first. We must always have the largest most capable military to intimidate potential enemies. Look at history. Hitler, Stalin and others did not go on expansionist binges because their adversaries were strong. It was because they werenweak in spirit and weaker militarily, at least at first.

Sun, 08/28/2011 - 00:54 | Link to Comment tmosley
tmosley's picture

Nope, the welfare system must die last, as those that are currently dependent on it die of old age.  We can stop its GROWTH immediately, however.

No-one is going to invade an America that has a hundred nuclear armed subs in the water, and a few dozen nuclear armed stealth bombers capable of flying around the world.  The US is in no danger of being invaded, period.  The money saved by withdrawing our troops into our borders is enough to fund the current welfare system and much much more.  It would give us the TIME we need to slowly cut it off, in a way that doesn't leave anyone out in the cold.  That is what RP wants.  The method he proposes to reduce and eventually eliminate welfare has no flaws that I can see.

Sat, 08/27/2011 - 15:09 | Link to Comment Dr. Acula
Dr. Acula's picture

jm, you didn't refute my position - that government bonds are slavery.

It sounds like you are saying that slavery is an acceptable means to an end - in this case avoiding an "implosion".

Are you sure these are efficacious means? In other words, are you sure that the "implosion" will actually be avoided if the slavery is continued?

 

Sat, 08/27/2011 - 15:12 | Link to Comment Spitzer
Spitzer's picture

A new gold standard is not in the cards. A floating gold standard is the future, it has been since the Euro was created.

http://fofoa.blogspot.com/2011/07/euro-gold.html

 

 

Sat, 08/27/2011 - 16:49 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

+++

A gold standard has too many minuses and is even more susceptible to trickery.  Just let gold go.

Sat, 08/27/2011 - 16:55 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Green arrow for you DCRB. Any standard is fraught wth peril. Just look at the swah of economic destruction caused when gold:silver ratio was fixed at 15:1.

Sat, 08/27/2011 - 19:13 | Link to Comment bardian
bardian's picture

I've never been able to finish an fofoa article, the guy is incredibilly long winded and never comes to the point. I wish someone would give me a concise explanation of freegold as fofoa has utterly failed. 

I assume freegold means allowing gold to be used as currency alongside paper curencies? Well, uh, how about FREE MONETARY SYSTEM, HELLO!! Anyone uses whatever form of money they want. The almost instantaneous outcome of this is gold and silver come to the forefront as the most useful form of currency.  There, one sentnce. Its not that hard.

 

 

Sat, 08/27/2011 - 15:22 | Link to Comment AldousHuxley
AldousHuxley's picture

not unless you default. then slaves win. party on borrowed dime, then tell creditors (China) to take a hike.

 

It is all about credit (reward) vs interest (risk). Bad credit + low interest is a win for the borrower.

 

You can always move if you don't like how your government borrows. Jim Rogers moved but still holds citizenship because it provides some value (US military can still kick ass and Singapore will get wiped out in a second without external military "protection")

Slaves cannot make any choice thus not free. Slaves don't even get a chance to borrow.

 

 

Sat, 08/27/2011 - 15:43 | Link to Comment jm
jm's picture

Any bond is slavery.  You are bonded (bound) to fulfill it by the contractual terms.  I'm just saying one shouldn't take one's good name and reputation as a throw-away because it means a great deal more than people appreciate.

 

BTW I see no implosion coming at a well-bid 2.12% on a ten year loan.

Sat, 08/27/2011 - 16:32 | Link to Comment Dick Fitz
Dick Fitz's picture

JM- take away the FED purchases (around 70% of all contracts, with a nice vig for the the PDs that buy them only to immediately resell them to the FED) and that 2.12% explodes upwards to 10-25%. Of the FED wasn't actively gaming the system, the rates would be MUCH higher.

Mon, 08/29/2011 - 08:41 | Link to Comment jm
jm's picture

Fed purchases didn't push the 10Y sub 2%.  Look at the indirects.

Sat, 08/27/2011 - 23:23 | Link to Comment Ying-Yang
Ying-Yang's picture

JM you don't know shit about Paul..... Read up and get back to us...PUD

Sat, 08/27/2011 - 23:24 | Link to Comment Ying-Yang
Ying-Yang's picture

ditto

Sun, 08/28/2011 - 22:43 | Link to Comment phyuckyiu
phyuckyiu's picture

@jm You are correct, America on it's present course is destroying everything in it's wake, like an autistic brother after eating a pound bag of m+m's. Of course, i'm sure you have no problem with buying 70% of your own debt.

Sat, 08/27/2011 - 14:02 | Link to Comment ActionFive
ActionFive's picture

He always talks about default or returning to gold standard/sound money.

Cram our debt into gold?

Sat, 08/27/2011 - 14:31 | Link to Comment tmosley
tmosley's picture

Looks like someone doesn't understand the difference between deflation in terms of gold and deflation in terms of dollars.

Ron Paul would stop the printing, which would stop the inflation.  But gold isn't rising solely due to inflation. If it were, it wouldn't be rising at 50% a year at this point.  It would be up 5% a year.  

Funny how you also imply that people who own gold want to be a bunch of slum lords or some sort of feudal kings that are at the top of a very low totem pole rather than being FREE in a wealthy society and in the middle of a very tall and fast rising totem pole.

I guess you run around deriding those in the path of cat 5 hurricanes for boarding up their windows, too.  After all, preparing for a thing is the same as wanting it to happen in your eyes.

Dipshit.

Sat, 08/27/2011 - 14:53 | Link to Comment Dr. Acula
Dr. Acula's picture

>But gold isn't rising solely due to inflation.

Correct. Inflation is defined as an increase in the money supply. Not all goods rise in lockstep in proportion to the money supply. Some go up while others go down.

It is even possible for the price of every good to decrease while the money supply increases, if people's demand for cash holdings increases.

Sat, 08/27/2011 - 15:16 | Link to Comment Spitzer
Spitzer's picture

Lew Rockwell-" The dollar has serious problems obviously internationally and domestically. They certainly have printed enough money to bring on hyperinflation and I guess, since of course, what happens with prices is determined by peoples subjective views of what's is happening. So in Wiemar Germany, prices did not go up anywhere near as much as the money supply one might have thought would have dictated, then went up much faster then the money supply was going up because people realized what the heck was happening"

James Turk-" You are raising a good point about what happened in Wiemar Germany. My view is just that we are on this path to what I call the fiat currency graveyard."

http://www.lewrockwell.com/lewrockwell-show/2011/08/07/214-the-fiat-curr...

Sat, 08/27/2011 - 23:47 | Link to Comment Founders Keeper
Founders Keeper's picture

Great post, Spitzer.

 

Sat, 08/27/2011 - 15:23 | Link to Comment Ramboy
Ramboy's picture

it's a leveraged inflation hedge and another mania.  when the money stops printing, it will be falling 50% a year too.

Keep shining your coins and hoping for chaos bitch.

 

Sat, 08/27/2011 - 15:47 | Link to Comment malek
malek's picture

I keep repeating myself, but: Dream on!

Because your call is essentially implying the politicians/bankers will let the imbalances correct, house prices revert to their long term trendline, bad debts be written off, banks fail, the deflation run it's course, and limit overall government action to protecting the small savers and picking up the pieces. What a beautiful fantasy...

Or maybe you believe the printing presses are not powerful enough to overcome deflation. Which clearly makes you delusional.

Sat, 08/27/2011 - 15:52 | Link to Comment Ramboy
Ramboy's picture

Last words of unknown trader.  "This time it's different"

They said housing was a hedge to inflation too and a hard asset.

Listen, only communists believe in perpetual, uninterrupted trends (both ways, ironically)

Sat, 08/27/2011 - 16:02 | Link to Comment Temporalist
Temporalist's picture

Concerning housing, it is obvious to many that it wasn't the "house" that was the problem it was the paper system that it was based on.  Historically the London Gold Pool collapsed but it was because PHYSICAL demand for gold and it "saved" the fiat game.  3 years later the gold window was closed.  The paper pushers couldn't wait to get people INTO homes and the same people are dying to get people OUT of gold.

There has never been an empire that has gone into such debt as the U.S. and escaped calamity.  The U.S., as Jim Rogers likes to point out, is the biggest debtor nation in world history.

"This time it's different."

No; this time is the same!

Sat, 08/27/2011 - 17:18 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Nice comment.  Although there are differences in before and now, the end-game is likely to be the same: fiat destruction, loss of empire and higher gold prices.

Get you gold while you still can!  There still seems to be plenty out there, as the 24hgold/eBay widget show only a 5% premium of gold Eagles to spot.

So, yeah, there IS time.  How much time?  Hmm...

Sat, 08/27/2011 - 19:31 | Link to Comment Ramboy
Ramboy's picture

I do agree with your general thesis and of ZH, US debt will eventually end in calamity.  But how much bigger can that debt become.  The end event may be many many lifetimes away.  Readers are so egotistical to think that it happens in their own lifetime... it's the proverbial gold rapture bunny bias.

Sun, 08/28/2011 - 22:57 | Link to Comment phyuckyiu
phyuckyiu's picture

C'mon now Ramsy, do you really think I enjoy watching everything my forefathers worked extremely hard for going down the shitter faster than you ever imagined? Do you really think over 1% of goldbugs want to eat #10 cans of dehydrated food for the next 30 years while taking potshots at mad maxxers? I think a few of us believe the U.S. has become an autistic child on a few pounds of m+m's, and needs to be put to bed, and/or slapped and showered first. WWW III is the gold rapture you speak of, doesn't sound very fun. But as you said, could be a loooooooooooong slide, why not protect yourself on that slide and maybe even look for another country to have a 2nd house. Preferably the other side of the hemisphere, like Chile. As soon as you find me a fed chairman with balls enough to raise interest rates and cause some pain for the banks, like Volker did, and I will gladly sell my coins and look for other things to invest in.

Sat, 08/27/2011 - 16:06 | Link to Comment malek
malek's picture

Oh, the technical take: we're overinflated/-printed/-whatever, there surely will be a snapback which will become a phase shift, and a turnaround!!!

Housing, or more precisely, the land beneath it, is a good inflation hedge IF you buy when housing prices are not in a bubble, interest rates are not poised to rise in the medium term, and the illiquidity of that asset doesn't bother you.

Sat, 08/27/2011 - 16:46 | Link to Comment RockyRacoon
RockyRacoon's picture

Johnny Bravo!  You're back -- and ready for another ass-whoopin' it appears.

Sun, 08/28/2011 - 23:05 | Link to Comment phyuckyiu
phyuckyiu's picture

That is no ordinary rodent! That is the most foul, cruel, and bad tempered rodent you ever set eyes on!

Sat, 08/27/2011 - 23:53 | Link to Comment Founders Keeper
Founders Keeper's picture

[After all, preparing for a thing is the same as wanting it to happen in your eyes.]---tmosely

Well done, tsir.

 

Sat, 08/27/2011 - 13:33 | Link to Comment PaperWillBurn
PaperWillBurn's picture

It won't be a currency, it is a wealth reserve. The jewelry you speak of it bought by weight for it's gold content. Wearable wealth. Doesn't matter much if you're buying bars or bracelets

Sat, 08/27/2011 - 14:03 | Link to Comment koaj
koaj's picture

wearable wealth can also be sterling silver or various stones

there is no way to determine what the post dollar world will look like. i would like a gold/silver backed currency but its up to the market to decide, not some central planning authority

Dr Paul would say the same thing.

Sat, 08/27/2011 - 14:39 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

For something to be valuable, it needs to be hard to produce, or rare.  Gold represents a certain amount of labor to dig it out and smelt it.  The same goes for a lot of other materials like platinum, osmium and so forth.  Gold is more plentiful than iridium, but sells for more per oz.  The concept of on objects' value often changes frequently.

That said, gold will always have value.  Paper that has a number printed on it is just that, paper with a number printed on it.

Sat, 08/27/2011 - 17:41 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

@ koaj,

I believe that Dr. Paul has come closer to FOFOA's position recently.  He is no longer (IIRC) pushing for a "Gold Standard", but sounds like he wants US to choose our money...

Wearable wealth is real expensive here in the USA compared to bullion or bullion coins.  Of course, if you wife likes jewelry, well then OK!  Still, you get a much better deal buying coins or bars.

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