Money is a way of a "middle man" taking a cut EVERY time we spend anything.
It is a way of 1 group of people, taking control of another. They are nothign but pirates, and the fatc that the fed isnt backed by gold, menas that the most profitable thing for htem to do, is bankrupt the ocuntry, keep most of the money, sell the gold to you (notice all the gold ads), then devalue gold and fck you over AGAIN, and probably start the process again for your CHILDREN, man !!
You have it right about the money system in the US, it's based on debt, our debt and our spending habits. We are in a cycle of deflation at the moment and who knows how long it will last but it will be followed by inflation, hyperinflation and the dollar collapes. The markets, including most commodities, are munipulated. Instead of thinking you can make a killing in gold and silver, learn more about local food growers.
What makes you think the government will give you fair value for your gold/silver when/if they decide to confiscate? In 1935 FDR confiscated first and THEN revalued gold to $35/ounce cheating all the people he had just stolen gold from a second time.
davincij Why dont you just switch to cash this is the safest bet in deflation.We arent going into deflation we are in it, no amount of government printed money is going to turn it around.
There is no replacement for mutiplyed credit creation thats taken up willingly by the people. its as simple as that.
The reason the flight to safety has been to T-Bills and not gold is because we are in deflation, almost hyper-deflation.
The second people wise up and see there is a lot of money everywhere (just no credit) and IS the reason that a government with 11 trillion in debt gives a negative return rate.
They will get it.
Gold must collapse or the dollar is toast.
Why? Because what makes the bond good is what makes the dollars good.
not only that but people had purchased bonds w/ a gold clause, stating people could take bond payouts in gold. NOT! FDR decided the govt wouldnt honor that contract and paid them w/ crappy US Dollars.
Thanks for bringing up thoughts about what really is money. I become more appalled the more I learn about our parasitic banking system. Watch Federal Reserve Challenge by lorax2013. watch?v=Px-v4TVSNGg
Well, yes you do a have a grasp on what is going on. Paper dollars are really just government mandated IOUs. On the Other hand gold has value EVERYWHERE in ANY country. Gold has real value & can be used to purchase physical assets. I always try to buy gold & silver whenever I have extra Fed Reserve notes.
Relax they will not come and take it the government will ask you to turn it in for x amount of dollars or whatever paper currency the come up with. Just remember it's not gold you want but what it can buy.
watch out for retail between jan & march 2009 if the first big retailers cant make payroll then it's crash time also banks are not issuing trade LC's so it could happen that supplies may not be imported on time causing more availability troubles! PS: don't measure gold in "currency value" but in "weight" for the time being. Don't leave it at the bank take it home and hide it in the garden :-)
This all depends what Mr Market has planned for everyone....Mr Market is punishing everyone at the moment....things are correcting as they should do.
Of course not many people like it as their implied wealth is now being destroyed.....and the govt thinks it can control the situation!
lol!
All these trillions of derivatives are yet to start blowing up....when they do..sit back and gently stroke your bullion....you will be glad you have some....
But all those 1.2 quadrillion of derivatives have created an artificial high price of all commodities through their leveraging. that leveraging is going to disappear so i dont understand how this can be good for commodity prices(going long) including Gold.
It's both, there are gold connections in your laptop, laptop sales are plummeting and so will the demand for the gold thats used to make them ands thats just one product out of thousands.
thats the only way i ever understood money. except it was backed by gold along time ago, the problem is they have been printing so much money, you can forget about there promise of money being backed by gold. I think this is the reason nuculear weapeons are made and we no longer manufacture anything in the U.S the centrals banks plan to rid of us, once we start understanding all the scams there doing. the banks have posted military bases all through out the world for this awakening. RAPTURE?
I didn't really follow your summary of your view of "money". I got the apples part, but then you transitioned to...something else, and I sort of lost the plot.
I have been told by others that average delivery was 1% of contracts. Someone showed me a chart that I can't find again of the decreasing NYMEX reserves.
To restore confidence in the system, you have to use gold. The USA created $3.2 trillion in paper money, 16 times as much Gold in Fort Knox, in just the last month. That means it might take a gold price of $50,000 to $250,000an ounce to actually clear the system, but we do have to clear the system. We have to go back to honest money. If youve ever played poker, and somebody sits down and pulls out a Sears credit card, hell bet on every card because he isnt playing with real money.
the thing i dont understand is why cant the goverment back some of the paper with acreage from public land?...or other capital ..i know gold is more portable but id rather own a mountian than some gold...
Gold is more rare than land. Gold can not be counterfeited, one persons 24k gold is the same as another persons 24k gold. Dividing the the gold is a lot easier than land. Gold holds it's value for a long long time. Gold does not restate earnings and does not lie to you. Gold is small.
All this and more is why gold has been money for 6000 years.
i agree. any confiscation will have be done where the people WANT to give it to the government. If they pull some crap like "face value" etc no one will give it up, and they will dig in and it will take door to door swat teams to get it if they want it. We know all the things that go wrong with that: youtube videos of cops kicking down doors and accidental deaths. But if they offer a premium for it; they will get it voluntarily from people, as you say.
If I'm note mistaken, money is not an IOU. An IOU has a specific time of payment. Money does not have a specific time. Money therefore should be a promissory note!
If you do what you said you are going to do - IE buy real estate when they start to play with gold and silver - I believe you will probably come out ahead.
You can't hold all your savings in gold forever but some of it should be in gold and silver. But you need to make some earnings some how by buying property that pays you via renters, or stock that do so via dividend.
Look at marketskeptics point com (Eric deCarbonnel's site). In some of his recent entries he shares links to nymex where there are daily updates of how many longs are asking for delivery. As of Nov 28, 2008 there were 8600 contracts, according to his source. But I don't know how that compares to "normal".
Regarding the nymex 8600 contracts, Eric deCarbonnel's point was to check daily. November 28 is just the _first_ day the longs can go on record as wanting to take delivery in December. They've got a whole month to do so. So perhaps they'll be dribbling in every day... Me, I'm heavily into physical silver. I've got SLV + GLD but I will be selling those first when I need cash for living expenses. Never sell your physical! That is, until the peak of the PM bubble arrives. Years away...
Oh sorry, I just realize at 7:30 you explained your research. You're a good man, davinci. (I also see that you're in IT, so am I.) I guess we computer guys know a good thing when we see it. [i.e. GOLD]
I'm going to buy that book. Looks good. Keep up the great work.
By the way, check out Yamana. I bought a few shares on Nov 14th and it's doing very well. Financial Sense News Hour (Hosted by Jim Puplava) has an interview with the CEO on their web site. 5th annual precious metals show
Yep You where right I was wrong. At least I can admit it. Also I would never keep my money there because I am sick of other people profiting from my money except me. I want to save my money and not need to worry about purchasing power being stolen.
Yes, I am also sick of others profiting from my money, yet another reason why I like silver and gold. And I'll probably look into other metals once the market starts to move up again, platinum, palladium etc. Nothing beats owning the physical metal.
Yes, they will not be as criminal and just take it with out trading you something for it. But the thing you get (dollars) have no value so get rid of it for something of depressed value like land or stocks.
I am in GoldMoney and like it so far. Thanks for clarifying on the Comex deliveries on Dec. 8th. You cleared a lot of questions I had since I watched Nov. 28 come in go with just a 1% in the price. Peter Schiff recommends the Perth Mint but they stopped taking orders. Are you sure they don't store your gold and are just running a derivative game?
Glad that you like GoldMoney a little more. As much as I respect your opinion I think it does make sense like Peter Schiff and Max Keiser say to have at least some (or a lot) of your bullion overseas. If you have to pack up and leave it's not always easy or safe carting all the bullion, especially the silver, with you amongst all the other things you need as well. Thanks for the update and keep up the good reporting.
Great video, I like to talk about Silver and Gold on my youtube channel as well.
Fitrade 11 months ago
thanks for the post
hermbilliamherm18 3 years ago
Also, foreigners have been literaly removing paper dolars form you, for AGES. Slowly, this devalues it.
Their only way out now (your govt) is to take over the world, and create 1 currency.
Ominously, this is predicted in the bible, as hte beggining of end times.
mikeybrumbrum 3 years ago
Money is a way of a "middle man" taking a cut EVERY time we spend anything.
It is a way of 1 group of people, taking control of another. They are nothign but pirates, and the fatc that the fed isnt backed by gold, menas that the most profitable thing for htem to do, is bankrupt the ocuntry, keep most of the money, sell the gold to you (notice all the gold ads), then devalue gold and fck you over AGAIN, and probably start the process again for your CHILDREN, man !!
mikeybrumbrum 3 years ago
You have it right about the money system in the US, it's based on debt, our debt and our spending habits. We are in a cycle of deflation at the moment and who knows how long it will last but it will be followed by inflation, hyperinflation and the dollar collapes. The markets, including most commodities, are munipulated. Instead of thinking you can make a killing in gold and silver, learn more about local food growers.
Boomer1949 3 years ago
What makes you think the government will give you fair value for your gold/silver when/if they decide to confiscate? In 1935 FDR confiscated first and THEN revalued gold to $35/ounce cheating all the people he had just stolen gold from a second time.
thomasw78 3 years ago
I know they will not but it will be more than I paid for it. And I will grab an asset that will be the next buy.
davincij15 3 years ago
davincij Why dont you just switch to cash this is the safest bet in deflation.We arent going into deflation we are in it, no amount of government printed money is going to turn it around.
There is no replacement for mutiplyed credit creation thats taken up willingly by the people. its as simple as that.
The reason the flight to safety has been to T-Bills and not gold is because we are in deflation, almost hyper-deflation.
marky1333 3 years ago
Inflation/deflation is a monetary phanominom.
I repeat.
Inflation/deflation is a monetary phanominom.
That affects prices.
The second people wise up and see there is a lot of money everywhere (just no credit) and IS the reason that a government with 11 trillion in debt gives a negative return rate.
They will get it.
Gold must collapse or the dollar is toast.
Why? Because what makes the bond good is what makes the dollars good.
davincij15 3 years ago
not only that but people had purchased bonds w/ a gold clause, stating people could take bond payouts in gold. NOT! FDR decided the govt wouldnt honor that contract and paid them w/ crappy US Dollars.
pairunoyd 3 years ago
Guys, what he's saying about our money system is true. Check out my vids on Modern Money Mechanics and I go into detail as to how this works.
MelodicNightmare 3 years ago
Thanks for bringing up thoughts about what really is money. I become more appalled the more I learn about our parasitic banking system. Watch Federal Reserve Challenge by lorax2013. watch?v=Px-v4TVSNGg
lloydmer 3 years ago
Well, yes you do a have a grasp on what is going on. Paper dollars are really just government mandated IOUs. On the Other hand gold has value EVERYWHERE in ANY country. Gold has real value & can be used to purchase physical assets. I always try to buy gold & silver whenever I have extra Fed Reserve notes.
surferstevo 3 years ago
if they confiscate gold...I'll be happy to shoot the guy who tries to take it after I "give" it to them.
gabeh73 3 years ago
Relax they will not come and take it the government will ask you to turn it in for x amount of dollars or whatever paper currency the come up with. Just remember it's not gold you want but what it can buy.
davincij15 3 years ago
watch out for retail between jan & march 2009 if the first big retailers cant make payroll then it's crash time also banks are not issuing trade LC's so it could happen that supplies may not be imported on time causing more availability troubles! PS: don't measure gold in "currency value" but in "weight" for the time being. Don't leave it at the bank take it home and hide it in the garden :-)
LastReplaySC 3 years ago
12k holdings called in between last Friday and today....you might just be right.
badicalindustries 3 years ago
i bought a while bunch of gold about a month ago.
myopisynesthite 3 years ago
sure they can, they print it like crazy,
rich232399 3 years ago
right out of "crash proof" by peter schiff
rich232399 3 years ago
Happy subscriber speaking. Thx for your commentary!
jspark311 3 years ago
"we don't know how many people decided to take delivery on their contracts" - Dunno bout that. You can check the open interest
bschinzel 3 years ago
This all depends what Mr Market has planned for everyone....Mr Market is punishing everyone at the moment....things are correcting as they should do.
Of course not many people like it as their implied wealth is now being destroyed.....and the govt thinks it can control the situation!
lol!
All these trillions of derivatives are yet to start blowing up....when they do..sit back and gently stroke your bullion....you will be glad you have some....
dojufitz 3 years ago
But all those 1.2 quadrillion of derivatives have created an artificial high price of all commodities through their leveraging. that leveraging is going to disappear so i dont understand how this can be good for commodity prices(going long) including Gold.
marky1333 3 years ago
You need to stop thinking of gold in terms of a commodity. It's a currency.
achalmers 3 years ago
It's both, there are gold connections in your laptop, laptop sales are plummeting and so will the demand for the gold thats used to make them ands thats just one product out of thousands.
marky1333 3 years ago
"Things will be so bad, you would be happy to give it to them?" I doubt that. Good luck on shorting ETFs.
kenji4861 3 years ago
I was thinking about double shorting gold but I am not that brave. :)
davincij15 3 years ago
thats the only way i ever understood money. except it was backed by gold along time ago, the problem is they have been printing so much money, you can forget about there promise of money being backed by gold. I think this is the reason nuculear weapeons are made and we no longer manufacture anything in the U.S the centrals banks plan to rid of us, once we start understanding all the scams there doing. the banks have posted military bases all through out the world for this awakening. RAPTURE?
aktlc123 3 years ago
I didn't really follow your summary of your view of "money". I got the apples part, but then you transitioned to...something else, and I sort of lost the plot.
I like your videos. Keep up the good work!
dashxdr 3 years ago
Sorry not a TV personality I will do my best to improve but I will stick to my day job. :) lol
davincij15 3 years ago
Hold your gold OUTSIDE of the USA.
odin422 3 years ago
You have a pretty good grasp of currency, i would suggest watching Money Masters. It's a master class on money history.
odin422 3 years ago
any1 knows where i can find historical delivery data?
yetzoz 3 years ago
I have been told by others that average delivery was 1% of contracts. Someone showed me a chart that I can't find again of the decreasing NYMEX reserves.
davincij15 3 years ago
To restore confidence in the system, you have to use gold. The USA created $3.2 trillion in paper money, 16 times as much Gold in Fort Knox, in just the last month. That means it might take a gold price of $50,000 to $250,000an ounce to actually clear the system, but we do have to clear the system. We have to go back to honest money. If youve ever played poker, and somebody sits down and pulls out a Sears credit card, hell bet on every card because he isnt playing with real money.
dojufitz 3 years ago
the thing i dont understand is why cant the goverment back some of the paper with acreage from public land?...or other capital ..i know gold is more portable but id rather own a mountian than some gold...
centervilletn 3 years ago
Gold is more rare than land. Gold can not be counterfeited, one persons 24k gold is the same as another persons 24k gold. Dividing the the gold is a lot easier than land. Gold holds it's value for a long long time. Gold does not restate earnings and does not lie to you. Gold is small.
All this and more is why gold has been money for 6000 years.
davincij15 3 years ago
I like your understanding of money - yes people themselves print the money via debt agreements.
It is all crazy!
dojufitz 3 years ago
check this delivery cumulative by nymex posted 11/28.
compare with the reported warehouse stocks, do you thing there will be any kind of default?
yetzoz 3 years ago
15.19% of eligible gold stocks and 31.76%!!!!!!!!!!!! of eligible silver stocks.
what do you think on that???
yetzoz 3 years ago
i agree. any confiscation will have be done where the people WANT to give it to the government. If they pull some crap like "face value" etc no one will give it up, and they will dig in and it will take door to door swat teams to get it if they want it. We know all the things that go wrong with that: youtube videos of cops kicking down doors and accidental deaths. But if they offer a premium for it; they will get it voluntarily from people, as you say.
psbyowner 3 years ago
That's right and it's so much easier the just print up the dollars and give it to you.
davincij15 3 years ago
in fact "cash" or Federal Reserve Notes are IOU's. If there was no debt, there would be no money.
psbyowner 3 years ago
Yep I forgot to mention once the debt is paid the principle is destroyed but the interest must come from someone else borrowing the money.
davincij15 3 years ago
If I'm note mistaken, money is not an IOU. An IOU has a specific time of payment. Money does not have a specific time. Money therefore should be a promissory note!
scwlim 3 years ago
Yes, very good video! WE are the participants in the paper IOU game. US Dollar money IS debt. It is DEBT. Nothing else. Paper IOU debt instruments.
nextdimensions 3 years ago
Yep and the banks feel justified in selling you IOU silver and gold certificates without buying it.
davincij15 3 years ago
awesome video !!
If you do what you said you are going to do - IE buy real estate when they start to play with gold and silver - I believe you will probably come out ahead.
yogiudo 3 years ago
You can't hold all your savings in gold forever but some of it should be in gold and silver. But you need to make some earnings some how by buying property that pays you via renters, or stock that do so via dividend.
davincij15 3 years ago
well, if you have enough gold / silver you can sell SLV / GLD options. You could also sell options against futures contracts.
But you would need quite a bit, - but that gives you an income play. IE "Renting" your gold out.
yogiudo 3 years ago
Look at marketskeptics point com (Eric deCarbonnel's site). In some of his recent entries he shares links to nymex where there are daily updates of how many longs are asking for delivery. As of Nov 28, 2008 there were 8600 contracts, according to his source. But I don't know how that compares to "normal".
dashxdr 3 years ago
If true then it was just normal delivery notices at 860,000 oz. As each contract is for 100 oz bars.
That sucks that means there will be no default.
davincij15 3 years ago
check silver at 31% of total eligible oz. think that's enough to jump the price up? that's 3040 contracts.
yetzoz 3 years ago
Regarding the nymex 8600 contracts, Eric deCarbonnel's point was to check daily. November 28 is just the _first_ day the longs can go on record as wanting to take delivery in December. They've got a whole month to do so. So perhaps they'll be dribbling in every day... Me, I'm heavily into physical silver. I've got SLV + GLD but I will be selling those first when I need cash for living expenses. Never sell your physical! That is, until the peak of the PM bubble arrives. Years away...
dashxdr 3 years ago
It might be years away - but the key is the unstable US dollar which looks like it might collapse....this will speed things up ALOT.
dojufitz 3 years ago
May I recomend you trade your GLD for CEF - Central Fund Of Canada at least you know your gold and silver is being held for you with that fund.
davincij15 3 years ago
LOL, I asked you about CEF last week and you told me to watch out for them. Have you changed your mind on them now?
JRCrowley 3 years ago
Oh sorry, I just realize at 7:30 you explained your research. You're a good man, davinci. (I also see that you're in IT, so am I.) I guess we computer guys know a good thing when we see it. [i.e. GOLD]
I'm going to buy that book. Looks good. Keep up the great work.
By the way, check out Yamana. I bought a few shares on Nov 14th and it's doing very well. Financial Sense News Hour (Hosted by Jim Puplava) has an interview with the CEO on their web site. 5th annual precious metals show
JRCrowley 3 years ago
Yep You where right I was wrong. At least I can admit it. Also I would never keep my money there because I am sick of other people profiting from my money except me. I want to save my money and not need to worry about purchasing power being stolen.
davincij15 3 years ago
Yes, I am also sick of others profiting from my money, yet another reason why I like silver and gold. And I'll probably look into other metals once the market starts to move up again, platinum, palladium etc. Nothing beats owning the physical metal.
JRCrowley 3 years ago
Paper Money - A promise to pay
Gold and Silver - Paid in FULL !
boots920 3 years ago 4
Hi
When of If the government confiscates your gold or silver will they give you the price it is worth or just take it off you?
P
irishnwowatch 3 years ago
Yes, they will not be as criminal and just take it with out trading you something for it. But the thing you get (dollars) have no value so get rid of it for something of depressed value like land or stocks.
davincij15 3 years ago
I am in GoldMoney and like it so far. Thanks for clarifying on the Comex deliveries on Dec. 8th. You cleared a lot of questions I had since I watched Nov. 28 come in go with just a 1% in the price. Peter Schiff recommends the Perth Mint but they stopped taking orders. Are you sure they don't store your gold and are just running a derivative game?
Deoptics8 3 years ago
Yes, unless you get allocated storage they are doing the derivatives scam.
davincij15 3 years ago
Hey DaVinci,
Glad that you like GoldMoney a little more. As much as I respect your opinion I think it does make sense like Peter Schiff and Max Keiser say to have at least some (or a lot) of your bullion overseas. If you have to pack up and leave it's not always easy or safe carting all the bullion, especially the silver, with you amongst all the other things you need as well. Thanks for the update and keep up the good reporting.
andrewebisu 3 years ago
Thanks but I am a less than satisfactory reporter, I will stick to software development as my day job. I do this to help others and learn more.
davincij15 3 years ago