I read your book few years ago then bought like 20 oz silver at $18. Wife was calling me crazy! She believed cash is king! Sort of true but now she invested her money in silver too. Currently I was able to stack 450 oz silver and 1 oz Gold. I hope I can accumulate more before it goes parabolic. Thanks MIke!
Do you expect PMs to take a beating in a bad deflation scenario? I would think they would get a pull back short term? I'm keeping some "powder dry" with this in mind... I would like to get your thoughts... Of course you're long term bullish but perhaps the dollar would rally short term?
How is it Bernanke's fault? Did he twist our arm and say, you must take the Fed's money? I think JPMorgan said to our govt, this is going to crash and everyone will loose everything unless we get a bailout.... Bush and Chainey being oil pimps were all for it. So it seems to me it this is our Government's fault not Ben.
how can he subtract the base $ from m3? that's the point: the base has been increased 3 fold while mike says m3 has dropped by 1 trillion. so, the Fed has created over 1.6 trillion + during that period. isn't that more than 1 trillion?
@thefink68 the important factor is that the last time the dollar changed it was taken off of the gold standard so if it were to lose a substancial amount of it's value, it is redeemable for NADA!
also mike seems to be an honest guy much like ron paul... by this i mean he is looking to spread knowledge to help others protect themselves and not for his own personal profits
great book... a bit light weight though... i am surprised mike didn't write a more detailed book given his wealth of knowledge about monetary history... he should've written about the latin american and eastern european hyperinflations given the fact that these were recent and so money supply data is readily available....
I like Michael Maloney. He's great, however, Mike states that it's normal for currencies to change systems every 30-40 years. That's fine but did people need to hold silver and gold during each transition? I don't think so. They transitioned seamlessly(?). so holding PMs might be good for a hyper-inflationary event in case we don't make that transition in a timely fashion. Please help walk me thru this. Chime in on my thoughts please.
@thefink68 Well since the beggining of the XX century it has become a norm (not normal I'd say) problem is govts. try to spend more they earn in tax revenue. First the sterling abandoned the gold std in the 30's, in Bretton Woods the USD was backed by gold and became the world currency, however in 1971 USD abandoned gold std. so since then it is backed by nothing. As you can see transition is not seamless because now that currencies aren't money because they're not backed by gold and lost value.
@thefink68 pt2. So if the problem of currencies is lack of real value, people and the markets will take shelter in real assets like gold and silver which have been increasing not just in price but in real value. With QE & QE2 going strong inflation rises and may reach hyperinflation levels so gold and silver, specially physical can save your purchasing power so your portfolio lives to invest another day (or year). Hope I helped to answer your original question, if not I'll try harder. Cheers!
A fiat currency wouldn't be a problem IF the quantity was closely controlled by law AND the government didn't create ALL of it through debt. As it is all our money is really debt.....piles of worthless of debt. Watch "The Secret of Oz" and send it to your congressman. There is a cure for this problem.
@rockthecityatnight : Yes you need to follow traditional legal principles, however currency MUST be backed by something of value. Doesn't matter if there is just the law. When you have fiat money the temptation to expand the money supply(press a button on computer) to benefit the few is just too great. It always happens. At least with Gold or Silver backed money it requires tremendous effort to expand the supply of money. Bill Still doesn't understand this.
@acjitsu I think Bill Still understands that fully. He provides historical examples of fiat currency that was very successful. The reason gold always fails is because there isn't enough and a few people end up with it all. Then money supply shrinks to nothing creating extreme poverty. Using gold and silver Bill concedes would work, because silver is plentiful. Today we have private bankers creating the money, and since it's all debt we need infinite growth or their ponzi scheme ends.
@rockthecityatnight: Actually, no, Still does not understand anything about Gold or backing it by something of value, or following legal principles. ANY time in the history of banking, ALL fiat currencies fail. There is plenty of Gold or Silver to use as currency. The notion that a few people end up with it all is just plain wrong. For more on this I suggest reading "Money, Bank Credit and Economic Cycles" by Jesus Huerta DeSoto. pg 781, bottom of pg #8.
@rockthecityatnight : Just go to Tom Wood's website. At the top, look for "Want to learn Austrian Economics?" Click on that banner. You will find a whole list of incredible books which a lot have been posted as .pdf for free. Scroll down to the bottom of the page and you will find the .pdf version of "Money, Bank Credit and Economic Cycles" by DeSoto.
@acjitsu I understand the need to tie the hands of congress when it comes to creating too much money. But Austrian Economic is really only concerned with keeping the supply of money stable and no inflation. We don't need gold to perform that function. Plus, there is not enough gold in the world to provide enough money to even have an economy today. Austrian Economic is opposed to central banking, such as the Federal Reserve that always manipulates the money supply to it's own ends.
yes there is but the price would not be 1500 toilet shit (fiat i owe you) per ounce..it will be bigger.
and yeah the austrian do not trust the gov (any one) and they are right (no man&women should trust the masters)..so gold standard is a option but physical gold (or other assets) are the best for sheps (aka tax payers)..then if the gov. could not take the wealth with printing shit (aka money paper) they would tax you (like europe..50%+ of gdp)
IF you wanna work in gold and silver check out my channel. Links on how to becaome an agent for a German bank introducing customers to their bullion. Great comissions to be earnt.
All that the central banks can do is flood the system with more cash and credit, the markets will chug along until it all collapses or ppl realise it's all bullshit and remember what reality is.
@Makis0007 he's saying the fiat currencies of the world will soon collapse along with anything attached to them(every market on earth) and it will happen soon but there are many variables involved, one being manipulation which is what jp Morgan is doing right now by shorting the silver market by flooding it with unbacked naked short orders to drive it's price down(price being fiat means the dollar looks like it's worth something).
@TheHolySpirit no, what i think I meant when I wrote it was that Maloney said about a 'dead cat bounce'. I don't see it happening. stocks keep going higher and higher. Especially since he warned us to 'get out ' of the market. I got out a tad earlier than that and am kicking myself. I could of made 1,000's more by staying in the market. AS for his dead cat, I dunno. his graphy showed a swing up followed by a big crash. its overdue for that. what happened to it I ask?? was he wrong????
@Romulan112 If you are a trader then I would say you could stay in the market and play the up and down gyrations. However, the market has been sideways for a decade which is not good for long term investment. Also, as the dollar is devalued it will make prices of stock rise but the actual value stays the same. measured against gold, stocks are going nowhere. Example, during the Zimbabwe hyperinflation their stock market took off to the moon.
I have a question.I just purchased(for the first time) 2-1 troy oz. .999 silver liberty coins at 33.00 each on Ebay,2-1 troy oz. .999 Apmex silver bars for 31.59 each from Apmex and 4-50 gram. bags of .999 silver shot nuggets for 50.00 for each bag from Ebay.Are these all good purchases? Or did I make any kind of a mistake with any of them? Thanks
@lute760, they're all good. Make sure when you buy coins, rounds and bars that they are .999 or better...the Canadian Maple Leaf is .9999 but if you're American try to stick with your coins i.e. The American Eagle, Silver Liberties etc. Apmex is good for silver bars and so is JM Johnson Matthey. The point is when the sh*t hits the fan the most saught after Silver & Gold will be .999 and better. I hope this helped....Good Luck and buy silver!
@scottbuster2000 Thanks for the input.Since I can't seem to find any Silver Eagles anywhere except for a small handful that were outrageously overpriced,I just purchased ten 2011-1oz Canadian Silver Maple Leaf coins for 360 dollars instead.Thanks again.
I am investing in silver myself, and shorting stocks (riskier business). However, if everyone goes into silver and gold we are creating the next bubble..
@aslkfja, Yes that's the point...silver and gold will rise quickly when the average Joe realizes his money/currency is worthless paper and rushes in to buy up precious metals. The Dollar will bottom out and then gold and silver will fill the void left by fiat money. If their is lets say 100 Trillion in fiat debt then the price of Gold and Silver must rise to match this so $1365.00 becomes 6 thousand + and 30 dollar silver explodes into the $1000.00 + Range!
Mike, if you think there is a possibility of the mkt going up because of "manipulation by PPT", why are you making a prediction of the mkt going down?
I guess the only way from here is down just like I have been hearing from perma bears since March 2009 lows.
If mkt drops from here it is because of bad economy. If it goes up it is because of "manipulation". I guess this mkt can not go up because things are much better than perma bears will wanna admit it. I'm not surprise given that the perma bear videos on youtube are the most viewed. Too many pessimist !!!!. That is a bullish sign. This stock market is very bullish. Stop misleading folks!!!!
Mike, you can't have it both ways. You have made it so that you can't be wrong. You said the recent rise is Dead Cat Bounce, so the mkt will drop from here and you also said if the mkt goes up from here it is only because of "manipulation". You are 100% correct. Everyone can make that prediction. All you said was that the market will go UP or DOWN. Duh!!
"Manipulation" is only how a trader defines it. Every time the mkt moves against a trader the only explanation is "manipulation". What a joke!
I like Mike ,but he lost some credibility with me when he said he wouldn't fool with 90% silver too much (because he doesn't make a commision on selling that) . But if you are poor like me and some others I have become friends with ,you can collect 90% or even 40% silver ...get as much as you can ,as cheap as you can! 1 oz. of 90% pays the same as 1 pretty oz of .999 of some government rounds or bars .
@mikeysback70 agreed.......ive even got some of my silver in old war nickels (35%) to make smaller transactions easier if things do happen. Its also the first stuff I will sell in the invent of needing money. When shit hits the fan no one will care that your silver is only 35%, so long as you give them the correct amount total. Hell the price of copper is going up too and that make up most of the rest of the nickles too, so its not like the 65% left is dirt.
You mentioned in the video that the credit bubble will pop. I got the sense of assets bubble pop with huge price comes down. But how a credit bubble pop?
Awesome. Please please please keep these coming. I've read your book Mike and have been trying to get friends and family to do the same. Some have, but others haven't. Videos like these are great for helping them open their eyes.
Do you equate the bull trap phase of a bubble with the 'Dead Cat Bounce'? And a Head and Shoulders to the space between the Bear Trap (Stage 2) and Bull Trap portions (Stage 4 / Collapse) of the bubble?
I have a question. Why is it always assumed that deflation brings lower wages because of falling product prices? Can deflation exist without falling wages?
@luvpump1 Silver, for any investor. But seriously, for a small investor, silver. Just cut out your starbucks for a few days buy some silver and you're in the game! - Robert Kiyasaki
Can someone please explain the graphic in mike's presentation when he was in Russia and they cut him off? It was the graphic that looked like 2 parallelograms with their corners touching. Thank you in advance.
One of your best presentations Mike! What about precious metals mining companies? Do you think they will fall with the rest of the stock markets or hold their own?
Mike, what about the Bush tax cuts expiring at the end of the year? If they expire indeed, the Capital Gains taxes will go from 15% in 2010 to 20% in 2011. Will this not cause a sell-off in 2011? We also have the a huge wave of Alt-A and Option-Arm mortgages resetting in 2011. Let's be honest about it, this is what is happening!
Mike (or his staff)... The format is awesome. It's very VISUAL which is great for people who don't quite "get" the complexities of economics. Even my mom understands this video. That's very impressive, just in it's own way.
I think you should do a video and explain why "GOLD/SILVER IS MONEY", and what we think of as money is actually "an intrinsically worthless commodity" that trades just like oil, but unlike oil, is intrinsically worthless. Show a gold-to-DOW graph and EXPLAIN it to ppl.
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
@mgroelli Mike's talking about a MONETARY deflation (i.e. a shrinking of the amount of currency that circulates), not necessarily an "Asset Price Deflation" (the price of things dropping due to a demand for dollars). While a Monetary deflation may lead to an asset price deflation in a lot of areas, the "smart" money is investing in REAL GOODS that will hold value after the monetary base begins growing again, and real price inflation finally arrives.
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
If you do the research food production is already on the slide.The shelves will start to empty in the not too distant future, and the price of basic foods will dramatically increase..........good luck with your gold and silver. If the shit hits the fan, would you rather have a 6 month supply of long shelf life produce.....or are you gonna suck on a gold coin.
My guess is that we will go from inflation into hyperinflation AND deflation AT THE SAME TIME.
More and more people are losing faith in currencies, igniting the velocity of money. People are going into real assets, causing prices of oil, food, precious metals etc. to skyrocket, while at the same time, prices for all things that are financed by debt (housing, cars) or that are not essential (vacations, flights etc.) will be plunging.
Thanks a ton, Mr Maloney, for sharing your insights!
Great presentation. If you haven't read the book, I highly recommend it. Factual history of money which made me realize the Government is not our friend.
@lisas44 Thank you. We hope you use Mike's book as a starting point of your education. While his book is good, it is definitely not the end all be all.
@BlueEagle8, but if the money itself is still out there, why would a loan default cause deflation?
If a central bank issues new money for a mortgage - a default would mean the central bank cannot get the principal back. This should cause inflation as the principal cannot be destroyed. No?
I recommend your book to some folks, and I've bought a few for friends (only one of which has actually delved into metals, but you do what you can...)
Thanks for the great comments folks! Please Favourite, Thumb and embed this everywhere...let's get this info in front of as many people as possible! Thanks for your help.
Is Mike saying all stocks will fall? How about precious metals mining stocks? Are they going to fall too? If precious metals go up the stocks of precious metals mining companies should go up too, right? Please explain....
@poreddys Mining companies will do better than other companies, but remember those companies still rely on credit from banks, paying employees, risks of mining accidents (flooded mines), leasing machinery, fueling machines with oil, etc.
Physical has no risk except theft, and best of all no counter party risk.
Is Mike saying all stocks will fall? How about precious metals mining stocks? Are they going to fall too? If precious metals go up the stocks of precious metals mining companies should go up too, right? Please explain....
If there is deflation...wouldn't that mean the dollar will become stronger (i guess for short term), and that wouldn't that bring price of gold and silver down as well????
I think this vid is your most valuable. Mike clarified what he meant by "Deflation" this time and I finally understood what he has been trying to convey. He's like the Godfather of economic common sense. Its a real pleasure to follow his logic....
Excellent. Wait 2-3 years for gold and silver to correct downward in the deflation cycle, and then when metals hit bottom, that is when you should buy gold and silver.
Many of us have a 401K that has limited options, do we go for bonds growth or overseas funds? I know, there are no good options and they wont let us pull the money.
LOVE LOVE LOVE that book. It was one of the first steps in my knowledge of the true meaning of money. I've learned more daily for the last 3-4 years and I strongly recommend anyone who doesn't yet understand Gold/Silver to READ THIS BOOK!
On a different note, the new website looks nice, but the news section isn't as good and I visitied your site a couple times a day for just the news Mike!
great presentation, Mike, sharing with all my friends.
I have also noticed the same direction/synchronization and now my scatter-plots show the synchronization of individual equitites and such vs a given market index, and I hope to show everyone how to do their own scatterplots in openoffice for this.
This also means finding what is highly diversified or not, to get massive gains locked to these cycles very short-term.
@micidragan I think Mike meant that the longer you wait, the higher the prices will be if you eventually decide to go in. I don't think he meant precious metals will be unavailable, just that they will be much more expensive, and you will wish you had bought in sooner rather than later. Of course, I guess it is likely that at times, in the future, ordinary people may find it pretty tough getting our hands on precious metals, because the rich can "cut-in" at the head of the distribution pipeline
@MrDorkusMaximus There are supply shortage issues though with silver, platinum, and palladium. Gold is in ample supply since it is used as a store of wealth and very little industrial use. This doesn't mean though that gold will be cheaper than silver, etc in the future though.
@micidragan look at it this way. How many people are in the world and how many ounces of gold and silver exist. They are scarce. You can find them now because people are buying and selling. When the currencies are close to the edge, those with gold and silver will not be selling.
Bitcoin shows that you do not need a physical commodity to keep money from being counterfeited. The bitcoin peer-to-peer network is like bittorrent. It cannot be shut down. The will of the people owning and spending the bitcoins determines what code is being used for the bitcoin client software. They decide how the network is being rewarded for keeping bitcoin transactions safe. This is anarcho-capitalism at work in a p2p network! Just type bitcoin into youtube...
@alalelalex if the entire bittorrent and internet were shut down - this IS possible - if enough zombie computers were to initiate their own actions in the bitcoin network - this IS possible - the system would fail. A physical system is the only truly reliable system and that's with gold and silver. We need both, because the speed brings efficiency but it does NOT have lasting reliability.
I agree, that we need both the physical money as well as a good digital currency. Digital currency that is backed by gold, is not reliable because there is no way to know for certain that the gold is there. On the other hand there is the government that may shut down the digital currency if it has an address. But bitcoin does NOT have an address and is proven by its design. So LOGICALLY this is the way to go... at least as long as there are governments!
@alalelalex There is a way to know - goldmoney .c om by James Turk allows 3rd party audits, frequent audits, gold, silver, platinum, and trading between customers/members as well as direct trade in and out to your own banking accounts. So it is fully allocated gold, silver, able to be delivered to you as well as used for electronic transactions. Bitcoin doesn't need an address - it is a failure because it has no physical backing or control over its issuance. It requires a network so it fails
The physical backing that bitcoin has, is the p2p network. It is the users that agree to use a certain set of rules. Bitcoin clients will not accept any transaction blocks that violate the rules. The clients of the people owning and spending coins, will allow the block generators to reward themselves according to these rules. This makes sure that the p2p network has a economic incentive to keep existing.
In reality the Internet will never go off-line completely.
@alalelalex if bitcoin is to have any real value to society it must be able to function 100% with no internet of any sort. Gold can do that right now. goldmoney .c om can assist in faster transactions between gold, silver and platinum and between members and in/out of bank accounts using goldmoney but it is NO substitute - merely an additional option - for having gold and silver money IN HAND.
Maybe I should give goldmoney the benefit of the doubt. But why are there so little competing e-gold companies. Why is paypal almost the monopoly digital currency for payments to untrusted parties. Why is there no irrevocable digital cash?
Bitcoin does not function without internet. Gold does not function over the internet. Goldmoney is still a bank, and banks collude with the government. The incentive for this is too great. It's the same with politicians. Would you ever trust one?
@BlueEagle8 Yes. There is one major difference between Brinks and Goldmoney. Goldmoney. Your gold and silver is not segregated. If you have 20 ounces of silver with Goldmoney you own 20 ounces of a 100, 400, or 1000oz bar.
When you store at Brinks you have segregated storage. Meaning you buy the gold and silver coins, bars, or rounds and they are marked as yours in the vault. You do not have a situation where two or more people own different parts of the same product.
@WealthCycles very true - the trade-off is between solid-object ownership with good accounting / segregation vs liquidity of fractional bar value trading and thereby a dependence on accounting / books rather than physical matter being in different boxes / cages with your name on it. Each can serve its purpose. So far I have been happier to have just my own in-hand but it's not a gigantic amount to date. Maybe that will change at some point.
@alalelalex Maybe no one else dares try the e-gold / goldmoney model of business because they aren't sure how to operate such a business. Maybe paypal also is frowned upon by others as not yet a trustworthy / stable business model. People don't all jump into business ideas just because someone else did it first. How come there aren't 2 or 20 e-bays?
Gold doesn't *need* to function over the internet but it can via agreed trades between gold pools, each independently audited.
If it is that difficult to operate such a business. Then I do not trust it. Is the government making it so difficult? This is not an advertisement at all. No doubt, paypall has competitors, but just like google somehow it achieve an effective monopoly. May have something to do with patents etc. There is no free market. That is why you see so little competition. Why should I trust "independent" audits? Nout Wellink says he is independent, still he is part of trilateral commision. :-)
@alalelalex You don't have to trust anything. I don't. I keep my gold with me. I am with the bank of Tony Montana. We can all carefully make some choices and see what happens.
@alalelalex so that being said, goldmoney .c om is not a bank and I would trust it / James Turk because of the audits and options for delivery. I just don't have enough gold / money to justify having the account because I per
I read your book few years ago then bought like 20 oz silver at $18. Wife was calling me crazy! She believed cash is king! Sort of true but now she invested her money in silver too. Currently I was able to stack 450 oz silver and 1 oz Gold. I hope I can accumulate more before it goes parabolic. Thanks MIke!
Pennychaser1 1 month ago
Hi Mike Maloney,
could you post more videos please?
Thank you.
Success
WebTvlitoralOficial 4 months ago
@luvpump1
1. Get out of the stock market.
2. Buy up precious metals.
3. Vote Obama and other keynesians out of office.
Linguiphile 6 months ago 4
I loved your book. Not only how to invest, but all the history really was an eye opener. Thank you for your work.
TheMultiflip 6 months ago
Awesome vid as usual!
lauratdrummer 8 months ago
booooooring
hotdog032 8 months ago
@hotdog032 The only thing boring here is you.
TWSceptic 1 month ago
Lol you even used the term "helicopter drop" even before Helicopter Bernank did!
horlacsd 8 months ago
Mike Maloney (or Team).... Where is the M3 as of now? May 2011. ???
hexstaticleon 9 months ago
Do you expect PMs to take a beating in a bad deflation scenario? I would think they would get a pull back short term? I'm keeping some "powder dry" with this in mind... I would like to get your thoughts... Of course you're long term bullish but perhaps the dollar would rally short term?
ctfam 9 months ago
How is it Bernanke's fault? Did he twist our arm and say, you must take the Fed's money? I think JPMorgan said to our govt, this is going to crash and everyone will loose everything unless we get a bailout.... Bush and Chainey being oil pimps were all for it. So it seems to me it this is our Government's fault not Ben.
Ben is merely looking out for his home team.
InspireImages 10 months ago
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Check out my new GOT SILVER? shirts on Ebay
GotSilver100 10 months ago
how can he subtract the base $ from m3? that's the point: the base has been increased 3 fold while mike says m3 has dropped by 1 trillion. so, the Fed has created over 1.6 trillion + during that period. isn't that more than 1 trillion?
ftwbk 10 months ago
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This guy will go down in history as an absolute legend
theMAXILOPEZpsycho 11 months ago
Hallo Mike from Deutschland !
dennie6666 11 months ago
If this a cyclical thing ... why wont we try something else ?
shapingAfuture 1 year ago
@thefink68 the important factor is that the last time the dollar changed it was taken off of the gold standard so if it were to lose a substancial amount of it's value, it is redeemable for NADA!
Xsteppin 1 year ago
@Xsteppin Thanks, makes sense.
thefink68 11 months ago
also mike seems to be an honest guy much like ron paul... by this i mean he is looking to spread knowledge to help others protect themselves and not for his own personal profits
karthikraoa 1 year ago
great book... a bit light weight though... i am surprised mike didn't write a more detailed book given his wealth of knowledge about monetary history... he should've written about the latin american and eastern european hyperinflations given the fact that these were recent and so money supply data is readily available....
karthikraoa 1 year ago
I like Michael Maloney. He's great, however, Mike states that it's normal for currencies to change systems every 30-40 years. That's fine but did people need to hold silver and gold during each transition? I don't think so. They transitioned seamlessly(?). so holding PMs might be good for a hyper-inflationary event in case we don't make that transition in a timely fashion. Please help walk me thru this. Chime in on my thoughts please.
thefink68 1 year ago
@thefink68 Well since the beggining of the XX century it has become a norm (not normal I'd say) problem is govts. try to spend more they earn in tax revenue. First the sterling abandoned the gold std in the 30's, in Bretton Woods the USD was backed by gold and became the world currency, however in 1971 USD abandoned gold std. so since then it is backed by nothing. As you can see transition is not seamless because now that currencies aren't money because they're not backed by gold and lost value.
angelmtza 11 months ago
@thefink68 pt2. So if the problem of currencies is lack of real value, people and the markets will take shelter in real assets like gold and silver which have been increasing not just in price but in real value. With QE & QE2 going strong inflation rises and may reach hyperinflation levels so gold and silver, specially physical can save your purchasing power so your portfolio lives to invest another day (or year). Hope I helped to answer your original question, if not I'll try harder. Cheers!
angelmtza 11 months ago
@angelmtza Thank you.
thefink68 11 months ago
A fiat currency wouldn't be a problem IF the quantity was closely controlled by law AND the government didn't create ALL of it through debt. As it is all our money is really debt.....piles of worthless of debt. Watch "The Secret of Oz" and send it to your congressman. There is a cure for this problem.
rockthecityatnight 1 year ago
@rockthecityatnight You are right. However where there is money, there is temptation. You can't print Gold.
thefink68 11 months ago
@rockthecityatnight : Yes you need to follow traditional legal principles, however currency MUST be backed by something of value. Doesn't matter if there is just the law. When you have fiat money the temptation to expand the money supply(press a button on computer) to benefit the few is just too great. It always happens. At least with Gold or Silver backed money it requires tremendous effort to expand the supply of money. Bill Still doesn't understand this.
acjitsu 10 months ago
@acjitsu I think Bill Still understands that fully. He provides historical examples of fiat currency that was very successful. The reason gold always fails is because there isn't enough and a few people end up with it all. Then money supply shrinks to nothing creating extreme poverty. Using gold and silver Bill concedes would work, because silver is plentiful. Today we have private bankers creating the money, and since it's all debt we need infinite growth or their ponzi scheme ends.
rockthecityatnight 10 months ago
@rockthecityatnight: Actually, no, Still does not understand anything about Gold or backing it by something of value, or following legal principles. ANY time in the history of banking, ALL fiat currencies fail. There is plenty of Gold or Silver to use as currency. The notion that a few people end up with it all is just plain wrong. For more on this I suggest reading "Money, Bank Credit and Economic Cycles" by Jesus Huerta DeSoto. pg 781, bottom of pg #8.
acjitsu 10 months ago
@rockthecityatnight : Just go to Tom Wood's website. At the top, look for "Want to learn Austrian Economics?" Click on that banner. You will find a whole list of incredible books which a lot have been posted as .pdf for free. Scroll down to the bottom of the page and you will find the .pdf version of "Money, Bank Credit and Economic Cycles" by DeSoto.
acjitsu 10 months ago
@acjitsu I understand the need to tie the hands of congress when it comes to creating too much money. But Austrian Economic is really only concerned with keeping the supply of money stable and no inflation. We don't need gold to perform that function. Plus, there is not enough gold in the world to provide enough money to even have an economy today. Austrian Economic is opposed to central banking, such as the Federal Reserve that always manipulates the money supply to it's own ends.
rockthecityatnight 10 months ago
@rockthecityatnight
yes there is but the price would not be 1500 toilet shit (fiat i owe you) per ounce..it will be bigger.
and yeah the austrian do not trust the gov (any one) and they are right (no man&women should trust the masters)..so gold standard is a option but physical gold (or other assets) are the best for sheps (aka tax payers)..then if the gov. could not take the wealth with printing shit (aka money paper) they would tax you (like europe..50%+ of gdp)
ps:THE MAN IS RIGHT(MIKE)
STAN25S 9 months ago
I do not understand. Are you saying Gold stocks will be hit when the overbought markets fall? Maybe you can do a video on this
BMWg84 1 year ago
great video.
IF you wanna work in gold and silver check out my channel. Links on how to becaome an agent for a German bank introducing customers to their bullion. Great comissions to be earnt.
check it out.
YOU DONT NEED MONEY TO SET UP
its all free.
workinbullionwithme 1 year ago
All that the central banks can do is flood the system with more cash and credit, the markets will chug along until it all collapses or ppl realise it's all bullshit and remember what reality is.
Xsteppin 1 year ago
@Makis0007 he's saying the fiat currencies of the world will soon collapse along with anything attached to them(every market on earth) and it will happen soon but there are many variables involved, one being manipulation which is what jp Morgan is doing right now by shorting the silver market by flooding it with unbacked naked short orders to drive it's price down(price being fiat means the dollar looks like it's worth something).
Xsteppin 1 year ago
gratzz
toshibavoodoo 1 year ago
I should of stayed in the stock market. its just only gone UP since I left :(
Romulan112 1 year ago
@Romulan112 In terms of what? Has the value of the currency you're measuring it in also gone up, stayed the same, or gone down?
TheHolySpirit 1 year ago
@TheHolySpirit no, what i think I meant when I wrote it was that Maloney said about a 'dead cat bounce'. I don't see it happening. stocks keep going higher and higher. Especially since he warned us to 'get out ' of the market. I got out a tad earlier than that and am kicking myself. I could of made 1,000's more by staying in the market. AS for his dead cat, I dunno. his graphy showed a swing up followed by a big crash. its overdue for that. what happened to it I ask?? was he wrong????
Romulan112 1 year ago
@Romulan112 Watch what he says at 5:20 again.
TheHolySpirit 1 year ago
@Romulan112 If you are a trader then I would say you could stay in the market and play the up and down gyrations. However, the market has been sideways for a decade which is not good for long term investment. Also, as the dollar is devalued it will make prices of stock rise but the actual value stays the same. measured against gold, stocks are going nowhere. Example, during the Zimbabwe hyperinflation their stock market took off to the moon.
thefink68 11 months ago
I have a question.I just purchased(for the first time) 2-1 troy oz. .999 silver liberty coins at 33.00 each on Ebay,2-1 troy oz. .999 Apmex silver bars for 31.59 each from Apmex and 4-50 gram. bags of .999 silver shot nuggets for 50.00 for each bag from Ebay.Are these all good purchases? Or did I make any kind of a mistake with any of them? Thanks
lute760 1 year ago
@lute760, they're all good. Make sure when you buy coins, rounds and bars that they are .999 or better...the Canadian Maple Leaf is .9999 but if you're American try to stick with your coins i.e. The American Eagle, Silver Liberties etc. Apmex is good for silver bars and so is JM Johnson Matthey. The point is when the sh*t hits the fan the most saught after Silver & Gold will be .999 and better. I hope this helped....Good Luck and buy silver!
scottbuster2000 1 year ago
@scottbuster2000 Thanks for the input.Since I can't seem to find any Silver Eagles anywhere except for a small handful that were outrageously overpriced,I just purchased ten 2011-1oz Canadian Silver Maple Leaf coins for 360 dollars instead.Thanks again.
lute760 1 year ago
lol so many mal-investments due to government manipulation
imagine the utopia we would live in if investment capital was allocated properly
TheBlitz1 1 year ago
I am investing in silver myself, and shorting stocks (riskier business). However, if everyone goes into silver and gold we are creating the next bubble..
aslkfja 1 year ago
@aslkfja, Yes that's the point...silver and gold will rise quickly when the average Joe realizes his money/currency is worthless paper and rushes in to buy up precious metals. The Dollar will bottom out and then gold and silver will fill the void left by fiat money. If their is lets say 100 Trillion in fiat debt then the price of Gold and Silver must rise to match this so $1365.00 becomes 6 thousand + and 30 dollar silver explodes into the $1000.00 + Range!
scottbuster2000 1 year ago
Mike, if you think there is a possibility of the mkt going up because of "manipulation by PPT", why are you making a prediction of the mkt going down?
Makis0007 1 year ago
I guess the only way from here is down just like I have been hearing from perma bears since March 2009 lows.
If mkt drops from here it is because of bad economy. If it goes up it is because of "manipulation". I guess this mkt can not go up because things are much better than perma bears will wanna admit it. I'm not surprise given that the perma bear videos on youtube are the most viewed. Too many pessimist !!!!. That is a bullish sign. This stock market is very bullish. Stop misleading folks!!!!
Makis0007 1 year ago
Mike, you can't have it both ways. You have made it so that you can't be wrong. You said the recent rise is Dead Cat Bounce, so the mkt will drop from here and you also said if the mkt goes up from here it is only because of "manipulation". You are 100% correct. Everyone can make that prediction. All you said was that the market will go UP or DOWN. Duh!!
"Manipulation" is only how a trader defines it. Every time the mkt moves against a trader the only explanation is "manipulation". What a joke!
Makis0007 1 year ago
I like Mike ,but he lost some credibility with me when he said he wouldn't fool with 90% silver too much (because he doesn't make a commision on selling that) . But if you are poor like me and some others I have become friends with ,you can collect 90% or even 40% silver ...get as much as you can ,as cheap as you can! 1 oz. of 90% pays the same as 1 pretty oz of .999 of some government rounds or bars .
mikeysback70 1 year ago
@mikeysback70 agreed.......ive even got some of my silver in old war nickels (35%) to make smaller transactions easier if things do happen. Its also the first stuff I will sell in the invent of needing money. When shit hits the fan no one will care that your silver is only 35%, so long as you give them the correct amount total. Hell the price of copper is going up too and that make up most of the rest of the nickles too, so its not like the 65% left is dirt.
polevaultrockstr 1 year ago
You mentioned in the video that the credit bubble will pop. I got the sense of assets bubble pop with huge price comes down. But how a credit bubble pop?
lai999 1 year ago
Awesome! I'm speachless, just awesome! Embedded this into my blog as soon as I saw it! ;)
tuvalkpg 1 year ago
Thank you Mr Maloney!
memillanf 1 year ago
Awesome. Please please please keep these coming. I've read your book Mike and have been trying to get friends and family to do the same. Some have, but others haven't. Videos like these are great for helping them open their eyes.
Peace and love.
RuudDude1 1 year ago
@RuudDude1 You should also pick up crash proof 2.0
Vunks2000 1 year ago
Get out of mining stocks too????
mfith 1 year ago
mike maloney, the smartest person on earth.
cedricalien 1 year ago
excellent.
SGTbull07 1 year ago
Do you equate the bull trap phase of a bubble with the 'Dead Cat Bounce'? And a Head and Shoulders to the space between the Bear Trap (Stage 2) and Bull Trap portions (Stage 4 / Collapse) of the bubble?
GreatInca 1 year ago
I have a question. Why is it always assumed that deflation brings lower wages because of falling product prices? Can deflation exist without falling wages?
Quranite 1 year ago
ok, so in a few sentances what it he recommending to the small investor ?
luvpump1 1 year ago 3
@luvpump1 Listen to the last 60 seconds
WealthCycles 1 year ago 5
@luvpump1 get physical
thefirmhandshake 1 year ago
@luvpump1 Physical gold and silver.
Silver is the best bet in my opinion,it's relatively cheap to buy and ounce or two each week,instead of putting your money in the bank.
It has the potential to go to $500 dollars an ounce,but if it does,the world will be in mess.Probably WW3!!
express375 1 year ago
@luvpump1 Silver, for any investor. But seriously, for a small investor, silver. Just cut out your starbucks for a few days buy some silver and you're in the game! - Robert Kiyasaki
lXlRIVERlXl 1 year ago
Awesome!
HyperInflationNation 1 year ago
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abelclyde 1 year ago
Can someone please explain the graphic in mike's presentation when he was in Russia and they cut him off? It was the graphic that looked like 2 parallelograms with their corners touching. Thank you in advance.
mdunn604 1 year ago
@mdunn604 can you post a link and a point in time of the presentation ?
DavidAKZ 1 year ago
@DavidAKZ /watch?v=0Wrrzsrb-wg from 9:40 to 9:55
mdunn604 1 year ago
@mdunn604 Sorry, at a guess, it was something to do with technical analysis.
DavidAKZ 1 year ago
One of your best presentations Mike! What about precious metals mining companies? Do you think they will fall with the rest of the stock markets or hold their own?
Agsilverspoon 1 year ago
Mike, nicely done... clear, concise and timely!
topchef 1 year ago
Great overview of the economic situation facing us today Mike!
Timbukt00 1 year ago
Mike, what about the Bush tax cuts expiring at the end of the year? If they expire indeed, the Capital Gains taxes will go from 15% in 2010 to 20% in 2011. Will this not cause a sell-off in 2011? We also have the a huge wave of Alt-A and Option-Arm mortgages resetting in 2011. Let's be honest about it, this is what is happening!
auking33 1 year ago
Does anyone think gold is lagging silver and due to catch up soon? Or is silver gonna romp away from it from here-on-after?
BiggerThinking1 1 year ago
@BiggerThinking1 If silver is severely undervalued it is kind of expected that at one point it would see gains greater then gold.
captainmoe 1 year ago
Mike (or his staff)... The format is awesome. It's very VISUAL which is great for people who don't quite "get" the complexities of economics. Even my mom understands this video. That's very impressive, just in it's own way.
I think you should do a video and explain why "GOLD/SILVER IS MONEY", and what we think of as money is actually "an intrinsically worthless commodity" that trades just like oil, but unlike oil, is intrinsically worthless. Show a gold-to-DOW graph and EXPLAIN it to ppl.
stefanbanda 1 year ago 10
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Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
mgroelli 1 year ago
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
mgroelli 1 year ago
@mgroelli Mike's talking about a MONETARY deflation (i.e. a shrinking of the amount of currency that circulates), not necessarily an "Asset Price Deflation" (the price of things dropping due to a demand for dollars). While a Monetary deflation may lead to an asset price deflation in a lot of areas, the "smart" money is investing in REAL GOODS that will hold value after the monetary base begins growing again, and real price inflation finally arrives.
stefanbanda 1 year ago
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Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
mgroelli 1 year ago
Mike says there will be real deflation before the hyperinflation. The currency crisis will start the deflation right? So why would commodity prices drop if there is a currency crisis? Wouldn't the opposite be true? People running to real goods. Also is he excluding Gold/silver as a commodity? But then in hyperinflation, obviously everthing goes up relative to the dollar.
mgroelli 1 year ago
If you do the research food production is already on the slide.The shelves will start to empty in the not too distant future, and the price of basic foods will dramatically increase..........good luck with your gold and silver. If the shit hits the fan, would you rather have a 6 month supply of long shelf life produce.....or are you gonna suck on a gold coin.
movement26 1 year ago
My guess is that we will go from inflation into hyperinflation AND deflation AT THE SAME TIME.
More and more people are losing faith in currencies, igniting the velocity of money. People are going into real assets, causing prices of oil, food, precious metals etc. to skyrocket, while at the same time, prices for all things that are financed by debt (housing, cars) or that are not essential (vacations, flights etc.) will be plunging.
Thanks a ton, Mr Maloney, for sharing your insights!
DoubleSmoothie 1 year ago
great job, sir. bravo- may we have another on here as it all unravels?
hempgrowpro 1 year ago
I keep this book in my bug-out-bag.
ASeventhSign 1 year ago
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AnIntangibleBadge 1 year ago
get your food and ammo
XGCScrappy 1 year ago
That blue shirt looks comfortable...
TheEllipsis731 1 year ago
Great video Mike. You and your team are getting fancier. I have embedded on my site blog Cherylmacnaughon Thank you for all you do. Love your book !
cherylmacn 1 year ago
@cherylmacn Thanks! Were trying to spread the word as much as we can!
WealthCycles 1 year ago
What about miner stocks ? of companies that are indeed producing gold and silver ?
boggy81 1 year ago
Great presentation. If you haven't read the book, I highly recommend it. Factual history of money which made me realize the Government is not our friend.
lisas44 1 year ago 10
@lisas44 Thank you. We hope you use Mike's book as a starting point of your education. While his book is good, it is definitely not the end all be all.
WealthCycles 1 year ago
@WealthCycles Hi Mike, any plan for a second edition of the book?
open0007 1 year ago
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@WealthCycles Any plan for a second edition of the book?
open0007 1 year ago
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@WealthCycles Any plan for a second edition of the book?
open0007 1 year ago
@lisas44 - What are you talking about? Please explain.
Lingerfoot 1 year ago
Mike...this was too good...your presentation is Aaaaamazing!
taqibehjat 1 year ago 7
@taqibehjat Were glad you liked it!
WealthCycles 1 year ago
Well put!
maverick5550 1 year ago
Wow, excellent presentation. Thank you
ILiveInMyParadise 1 year ago
Wonderful presentation!!
ksr6 1 year ago
Fantastic video mate.
Sounds like we are in for another depression, but it will make the great depression look like a walk on the compared to what we're in for.
Eedgit 1 year ago
I don't get it, why is credit deflating at a time that interest ratea are 0?
Is everyone paying off thir debts in droves?
Stocks and real estate may be overvalued, but I don't think deflation will happen in commodities and everyday items.
LibertyDownUnder 1 year ago
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DavidAKZ 1 year ago
@LibertyDownUnder When loans default or payment ceases, that is deflation. The contraction of credit.
Eventhough rates are 0, banks are not lending and/or people are not taking out as many loans.
BlueEagle8 1 year ago
@BlueEagle8, but if the money itself is still out there, why would a loan default cause deflation?
If a central bank issues new money for a mortgage - a default would mean the central bank cannot get the principal back. This should cause inflation as the principal cannot be destroyed. No?
LibertyDownUnder 1 year ago
"I said this" and "I said that..."
That's because you rock!
I recommend your book to some folks, and I've bought a few for friends (only one of which has actually delved into metals, but you do what you can...)
continuityofliberty 1 year ago
Thanks for the great comments folks! Please Favourite, Thumb and embed this everywhere...let's get this info in front of as many people as possible! Thanks for your help.
WealthCycles 1 year ago
@WealthCycles
Is Mike saying all stocks will fall? How about precious metals mining stocks? Are they going to fall too? If precious metals go up the stocks of precious metals mining companies should go up too, right? Please explain....
poreddys 1 year ago
@poreddys Mining companies will do better than other companies, but remember those companies still rely on credit from banks, paying employees, risks of mining accidents (flooded mines), leasing machinery, fueling machines with oil, etc.
Physical has no risk except theft, and best of all no counter party risk.
BlueEagle8 1 year ago
Awesome vid!!!
Breycor 1 year ago
I'm so thrilled to see this video already getting over 7,000 hits. Everyone is waking up to reality and it's a beautiful thing.
igloobbq 1 year ago
Is Mike saying all stocks will fall? How about precious metals mining stocks? Are they going to fall too? If precious metals go up the stocks of precious metals mining companies should go up too, right? Please explain....
poreddys 1 year ago
If there is deflation...wouldn't that mean the dollar will become stronger (i guess for short term), and that wouldn't that bring price of gold and silver down as well????
mfith 1 year ago
@mfith should be, wouldn't it?
boipinoi604 1 year ago
Absolutely would love to see more analysis like this Mike your my # 1 source on PMs. Thank you kindly sir !
75silverbullet 1 year ago
great job once again gents . Nice job Dan !!!!!!!!!
75silverbullet 1 year ago
So where does one keep their gold and silver if they plan to buy quite a bit of it?
Aceload 1 year ago
@Aceload Dig a hole and bury it.
Excidium567 1 year ago
Mike you are AWESOME...I hope you are right!!! bought 1 kilo silver today!! help me GOD!!!!
makulizsolti 1 year ago
sounds like to me you could stick it to JP morgan and the fed at the same time if you borrowed money to buy silver
b1650514 1 year ago
Great video.
TheBlackastartes 1 year ago
I think this vid is your most valuable. Mike clarified what he meant by "Deflation" this time and I finally understood what he has been trying to convey. He's like the Godfather of economic common sense. Its a real pleasure to follow his logic....
Motoicon 1 year ago 2
The 2 'dislike' votes are from:
1. Ben himself
2. Ben`s momma
ballzee1117 1 year ago 3
Excellent. Wait 2-3 years for gold and silver to correct downward in the deflation cycle, and then when metals hit bottom, that is when you should buy gold and silver.
drkevincampbell 1 year ago
@drkevincampbell Aren't you the guy recommending the Iraqi Dinar? I'm afraid that you'll end up being dinner, not Dinar!
whygoldandsilver 1 year ago
@whygoldandsilver That's funny. I'll use the dinars to buy you a steak dinner. deal?
drkevincampbell 1 year ago
@drkevincampbell Only if you make an online marketing character called Robert Dinaro!
whygoldandsilver 1 year ago
@drkevincampbell When. If it doesn't, you're sitting with fiat.
boipinoi604 1 year ago
Thanx Mike - great informations and the way how the presentation looks like is awesome!
followersXYZ 1 year ago
what does Mike think about the future of real estate in the USA?
rockstar728 1 year ago
I read the book, and it was good.
cedricalien 1 year ago
Great video Mike, thanks
fezz569 1 year ago
Many of us have a 401K that has limited options, do we go for bonds growth or overseas funds? I know, there are no good options and they wont let us pull the money.
InspireImages 1 year ago
@InspireImages You can't get a 401k loan? I plan on doing that soon but my 401k doesn't have all that much so...
UncommonThinker 1 year ago
Excellent more more morre
rapidachris 1 year ago
LOVE LOVE LOVE that book. It was one of the first steps in my knowledge of the true meaning of money. I've learned more daily for the last 3-4 years and I strongly recommend anyone who doesn't yet understand Gold/Silver to READ THIS BOOK!
On a different note, the new website looks nice, but the news section isn't as good and I visitied your site a couple times a day for just the news Mike!
Medic37dan 1 year ago
Thank You Mike & Dan another great video.
TheSilverGuild 1 year ago
great presentation, Mike, sharing with all my friends.
I have also noticed the same direction/synchronization and now my scatter-plots show the synchronization of individual equitites and such vs a given market index, and I hope to show everyone how to do their own scatterplots in openoffice for this.
This also means finding what is highly diversified or not, to get massive gains locked to these cycles very short-term.
ytgv3fc7 1 year ago
Great video - love the format and editing.
artdeco101010 1 year ago
Hurry hurry before it is too late. Isnt that always a good selling trick? Its scarce so you better hurry.
Well, but somethings tells me that Mike might be right anyway!
micidragan 1 year ago
@micidragan I think Mike meant that the longer you wait, the higher the prices will be if you eventually decide to go in. I don't think he meant precious metals will be unavailable, just that they will be much more expensive, and you will wish you had bought in sooner rather than later. Of course, I guess it is likely that at times, in the future, ordinary people may find it pretty tough getting our hands on precious metals, because the rich can "cut-in" at the head of the distribution pipeline
MrDorkusMaximus 1 year ago
@MrDorkusMaximus There are supply shortage issues though with silver, platinum, and palladium. Gold is in ample supply since it is used as a store of wealth and very little industrial use. This doesn't mean though that gold will be cheaper than silver, etc in the future though.
residentzombie 1 year ago
@micidragan look at it this way. How many people are in the world and how many ounces of gold and silver exist. They are scarce. You can find them now because people are buying and selling. When the currencies are close to the edge, those with gold and silver will not be selling.
smhutson 1 year ago
Steel bubbles don't pop
Casillas48060 1 year ago
So is this article on the Dead Cat Bounce for premium members only?
Sentinel4truth 1 year ago
Bitcoin shows that you do not need a physical commodity to keep money from being counterfeited. The bitcoin peer-to-peer network is like bittorrent. It cannot be shut down. The will of the people owning and spending the bitcoins determines what code is being used for the bitcoin client software. They decide how the network is being rewarded for keeping bitcoin transactions safe. This is anarcho-capitalism at work in a p2p network! Just type bitcoin into youtube...
alalelalex 1 year ago
@alalelalex - I prefer physical, it still works after an EMP.
artdeco101010 1 year ago
@artdeco101010 ha ha !
DavidAKZ 1 year ago
@alalelalex if the entire bittorrent and internet were shut down - this IS possible - if enough zombie computers were to initiate their own actions in the bitcoin network - this IS possible - the system would fail. A physical system is the only truly reliable system and that's with gold and silver. We need both, because the speed brings efficiency but it does NOT have lasting reliability.
ytgv3fc7 1 year ago
@ytgv3fc7
I agree, that we need both the physical money as well as a good digital currency. Digital currency that is backed by gold, is not reliable because there is no way to know for certain that the gold is there. On the other hand there is the government that may shut down the digital currency if it has an address. But bitcoin does NOT have an address and is proven by its design. So LOGICALLY this is the way to go... at least as long as there are governments!
alalelalex 1 year ago
@alalelalex There is a way to know - goldmoney .c om by James Turk allows 3rd party audits, frequent audits, gold, silver, platinum, and trading between customers/members as well as direct trade in and out to your own banking accounts. So it is fully allocated gold, silver, able to be delivered to you as well as used for electronic transactions. Bitcoin doesn't need an address - it is a failure because it has no physical backing or control over its issuance. It requires a network so it fails
ytgv3fc7 1 year ago
@ytgv3fc7
The physical backing that bitcoin has, is the p2p network. It is the users that agree to use a certain set of rules. Bitcoin clients will not accept any transaction blocks that violate the rules. The clients of the people owning and spending coins, will allow the block generators to reward themselves according to these rules. This makes sure that the p2p network has a economic incentive to keep existing.
In reality the Internet will never go off-line completely.
alalelalex 1 year ago
@alalelalex if bitcoin is to have any real value to society it must be able to function 100% with no internet of any sort. Gold can do that right now. goldmoney .c om can assist in faster transactions between gold, silver and platinum and between members and in/out of bank accounts using goldmoney but it is NO substitute - merely an additional option - for having gold and silver money IN HAND.
ytgv3fc7 1 year ago
@ytgv3fc7
Maybe I should give goldmoney the benefit of the doubt. But why are there so little competing e-gold companies. Why is paypal almost the monopoly digital currency for payments to untrusted parties. Why is there no irrevocable digital cash?
Bitcoin does not function without internet. Gold does not function over the internet. Goldmoney is still a bank, and banks collude with the government. The incentive for this is too great. It's the same with politicians. Would you ever trust one?
alalelalex 1 year ago
@alalelalex GoldMoney is not a bank. It does not pay interest nor makes loans. GoldMoney is a storage company, similar to Brinks or Public Storage.
BlueEagle8 1 year ago
@BlueEagle8 Yes. There is one major difference between Brinks and Goldmoney. Goldmoney. Your gold and silver is not segregated. If you have 20 ounces of silver with Goldmoney you own 20 ounces of a 100, 400, or 1000oz bar.
When you store at Brinks you have segregated storage. Meaning you buy the gold and silver coins, bars, or rounds and they are marked as yours in the vault. You do not have a situation where two or more people own different parts of the same product.
WealthCycles 1 year ago
@WealthCycles very true - the trade-off is between solid-object ownership with good accounting / segregation vs liquidity of fractional bar value trading and thereby a dependence on accounting / books rather than physical matter being in different boxes / cages with your name on it. Each can serve its purpose. So far I have been happier to have just my own in-hand but it's not a gigantic amount to date. Maybe that will change at some point.
ytgv3fc7 1 year ago
@alalelalex Maybe no one else dares try the e-gold / goldmoney model of business because they aren't sure how to operate such a business. Maybe paypal also is frowned upon by others as not yet a trustworthy / stable business model. People don't all jump into business ideas just because someone else did it first. How come there aren't 2 or 20 e-bays?
Gold doesn't *need* to function over the internet but it can via agreed trades between gold pools, each independently audited.
ytgv3fc7 1 year ago
@ytgv3fc7
If it is that difficult to operate such a business. Then I do not trust it. Is the government making it so difficult? This is not an advertisement at all. No doubt, paypall has competitors, but just like google somehow it achieve an effective monopoly. May have something to do with patents etc. There is no free market. That is why you see so little competition. Why should I trust "independent" audits? Nout Wellink says he is independent, still he is part of trilateral commision. :-)
alalelalex 1 year ago
@alalelalex You don't have to trust anything. I don't. I keep my gold with me. I am with the bank of Tony Montana. We can all carefully make some choices and see what happens.
ytgv3fc7 1 year ago
@alalelalex so that being said, goldmoney .c om is not a bank and I would trust it / James Turk because of the audits and options for delivery. I just don't have enough gold / money to justify having the account because I per