I wouldn't be surprised if gold and precious metals were soon banned from use as currency, to be held as only securities (if verified pure by banks). Due to the high volume of fake gold and silver increasing in the market, as well as complications concerning the buyers ability to verify purity, it would currently be difficult to use as actual currency, In other words, how is a vendor going to be able to tell if a bar of gold is entirely pure, especially when a line of customers are waiting?
Bernanke gave $ 1.2 trillion to the same Banks ( and their Hedge-Funds) that pushed and benefited from the 2008 Derivatives Disaster ( altogether $3 trillion 2008-'11) which is about the same amount that 6.5 million homeowners are in foreclosure or late-payments since '08, so the thieves get bailed-out and the victims get nothing ! and now they won't even re-finance these mortgages at a lower rate because they can't make the "profits" ! what a criminal shame ! financialtools1.blogspot.com
values in being rich. Sometimes I see rich people are people spoiled from birth, who dont have ambitions or ideas, and persuit their ignorance for staying rich, while being rich is nowhere near to being a virtue.
Most rich people are just assholes. If I were to choose between 20.000bucks or 10.000.000 bucks. I would choose the 20.000. I have no fucking clue where to spend 10million on apart from shaping myself as a rich mach man.
and your future sales department will transact in gold currency.
People will be forced to use gold, rather then being aware that gold is money.
I wont buy loads of gold, why become or stay rich?
Money and capitalism is man made. Money and that which you can buy of it is all a dellusion.
If I want a boat, i get a fucking boat. And i dont care about the money arithmetics. People force me to care for their man made economic system i didnt ask for when I was born.
GOld isnt money, cause we made it money. However, we will make gold money ourselves. Thats not tradition, thats because gold is money as it represents the backup of paper currency.
Gold doesnt inflate or deflate. Its paper money that inflates that causes gold prices to rise. And simply the interest for gold exempts the gold treasury causing gold prices to rise.
Gold is no money, we made it that. And yes your neighbour
Gold is a static value. It doesnt change, wether you lend or sell it.
gold is not money. gold is like any other goods, its value fluctuates. money values always fluctuates against other currencies. gold is the same price all over the world, therefore gold is not money. Bernanke was right when he said gold is not money.
so now your saying the population doubles but gold and copper were finite so the per capita quantity of money halved leading to a collapse. a good argument against finite metal currency.I'm putting words in your mouth again?
Bernanke is a useful idiot. Of course he knows what Ron Paul is talking about, he knows economics in and out. But his value system is messed up. He is programmed, like a lawyer, to consider both sides of an argument and is expected to be able to thoroughally explain the side favorable to his employers in a positive light. And he does a very good job of that.
His IQ is off the charts (American measure of worth)
His moral compass is skewed (Eastern measure of worth)
In my view the money it is just agreement. It is an idea. Money can be anything that people agree upon. And I will argue that invention of money was the beginning of class society. The idea was to use money to force naive people to work for the few who invented this idea who then would enjoy life and nature in its full without any work. This scenario is still working to this day. Billions of people are forced to work harder and harder for the money with means for the few who control this system.
@tadekm2000 Just to add. Lest we forget Henry I of England's talley system: "During his reign, King Henry introduced a new monetary system known as the tally stick, which started primarily as a form of record keeping. Since tally sticks could be used to pay the taxes imposed by the king, he created a demand for tally sticks. This demand for tally sticks expanded their role and they began to circulate as a form of money. Retired in 1826."
At $2,300 a troy ounce, the dollar is worth nothing. Minus one cent in relation to gold, it is when the dollar will go away and many people will die. Vote Ron Paul and save yourselves.
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In 1895, at the depths of the Panic of 1893, the Federal Treasury was nearly out of gold. President Grover Cleveland arranged for J.P. Morgan to create a private syndicate on Wall Street to supply the U.S. Treasury with $6.5 million in gold, to float a bond issue that restored the treasury surplus of $7 million. The episode saved the Treasury and made the US the financial capital of the world !!!
Ben Bernanke the Jew wants to protect the foreign bank known as the Federal Reserve wich is Jew owned wich keeps all Americans and the Government in debt..
Solution to the problem+ridding Jews out of Government= a debt free American Government wich has the right to print its own coin..Same thing happened to Germany before Hitler, people were homeless,broke,starveing,economy was being sucked dry
Gold seems kinda arbitrary as a choice for backing a currency. It has little intrinsic value/utility, but does have some inherent relative scarcity. But "fiat currency" can have even more relative scarcity ....if you can control your 'money supply' and debt propensity and avoid counterfeiting.
@ProNorden the citizens should decide what they use as money, not the government. You say gold has no value? In 1999 it was $300/oz., now it is $1,500/oz. I'll take gold and silver any day over a worthless piece of paper or computer credit. China and India are buying literally TONS of gold because they know the dollar will eventually crash. No society has successfully controlled fiat currency, it always leads to the destruction of the currency.
@saintkatanalegacy Yeah, gold will hit $2000 and the paper bugs will insist it's just a bubble (a 10 year+ bubble). They said the same thing at $1000 and $1500. As long as the U.S. continues this course of action, gold and silver will continue to rise. The returns on gold beat Warren Buffet's much envied Berkshire Hathaway stock for 9 out of the past 10 years, and that crusty Wall Street scumbag has the gall to call gold a bad investment.
@LawyerScumGhost ...thanks for your reply. I said "little intrinsic value/utility" ... apart from whatever value some of us attribute to it. Lots of people like bright, shiny things I s'pose. And then there's the "Greater Fool theory".
@ProNorden It is obvious to me that the greatest fool is someone who still has not invested in silver or gold. Of course, I guess we could dispense with 6,000 years of human economic activity in which gold and silver have never had any problem finding a buyer; which would be the only way the "greater fool theory" applies to the situation.
@ProNorden I agree but all of this is pointless if people do not have jobs in order to get money. We have a growing population. There is massive unemployment. You have millions who are employed barely surviving. No money policy or new currency or regulation will fix that. There is no new job sector coming in that can possibly employ so many displaced workers. This game is over, and most don't even realize it. They will eventually and that's when shit is gonna hit the fan.
It's too late for about 99% of americans. Debt up to their eyeballs, they can't even afford silver let alone Gold. If I was personally in that situation I would stop paying my bills and go all in. Soon the majoritu of ppl will be walking away from their mortgages anyway.
@spyletu Besides the The Great Depression and the Panic of 1873, there have been boom and bust economic cycles through out the history of mankind. Sorry. Gold is not going to change the world into some Utopian dream no matter how much you and Ron Paul believe in it.
@337noname The Great Depression occurred AFTER we went to the Federal Reserve/central bank scheme (for the 3rd time, the other 2 U.S. central banks were eliminated). Gold is not the ultimate answer nor a key to Utopia. Neither Ron Paul or myself ever said anything like that. You are regurgitating things others have told you rather than to think for yourself. Dr. Paul has been saying for decades what was going to happen to our economy if we kept our fiat system, and he was 100% correct.
@LawyerScumGhost Right. I'm regurgitating things others have told me but you speak the word of Dr. Paul. Oh well. People need to believe in something I reckon. LOL
@LawyerScumGhost Did I say a fiat currency would last or is different? Of course not. It's our human folly that creates booms and busts, not money itself.
@337noname The boom/bust cycle is a direct result of our fiat currency system; the Federal Reserve can pump limitless amounts of credit into the system, which Wall Street loves to gamble with. Why not? If they lose they can just make us idiots pay for it. A real tangible asset like gold can't be manufactured out of thin air like the dollar, so there is a natural limit on the amount of money in the system. The bankers hate this because their power lies in money creation and interest payments.
@LawyerScumGhost Besides the The Great Depression and the Panic of 1873, there have been other boom and bust economic cycles when gold was the coin of the realm. Our current bust cycle isn't helped by our fiat crrency but won't be solve by going back to a gold standard. BTW, I think our current bust cycle is a direct result of our own hubris in beleiveing we can have our cake and eat it too. Obviously the Bush tax cuts didn't create jobs and easy money didn't make every home owner a king.
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@czubspenx in technical economic terms, gold itself is not money. depends on how you look at it. For Bernanke, who probably has a Ph.D in economics, it is normal for him to consider gold to not be money
Gold is the universal currency, we have so much money made out of thin air, that they are not even worth value but debt... with interests that is impossible to pay.
Academia tries to make economics into a real subject by making it complex with complicated math formulas so the professors can get incredibly rich and students spend years paying off their college loans. Economics can be learned by kindergarten once you understand that it's all about single transactions between two mutually agreeing parties to exchange goods and services.
Those digits on a screen are worth less every day. Those lies about recovery are worth less every second. Most people are STILL clueless about Past Labor Time. Once you are given a paycheck, you are ALREADY into the concept of Past Labor Time. If you wait more than a few weeks or months to protect your PAST LABOR TIME stored in FIAT, YOU WILL LOSE IT'S POWER! Fiat is a disgusting fraud sold by academics who are poor compared to investors. And, they do not know you even exist or give a ****
bernake prints fake shit called federal reserve notes and says that gold is not money. .anything that is of value is money .. what a dumbass. i would truat real estate, goods and gold alot more than gold for sure.. it is a joke.. the feferal reserve are crooks and thieves just like the federal government. dollare devaluation by design is what is happening. they are bankrupting people who worked hard and saved.. shame on them..
bernake prints fake shit called federal reserve notes and says that gold is not money. .anything that is of value is money .. what a dumbass. i would truat real estate, goods and gold alot more than gold for sure.. it is a joke.. the feferal reserve are crooks and thieves just like the federal government.
The whole currency model is greatly flawed and always has been. It doesn't matter if it's gold or paper, the basic structure of a few controlling the wealth while the masses struggle is untenable. People are no longer willing to be spectators in life, sitting on the sidelines of poverty while a few get to play. The era of a human's worth or right to life being directly tied to his/her access to currency must end. Stunning how we've let this control us so entirely despite how we suffer under it.
At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
@007HubbaBubba ... in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce..
Philip K. Dick on the Gold Standard: “…It seems to me to be nothing more than a social convention, such as wearing matching socks. In another way it's like the value of Gold. The value of Gold is what people agree on, which is like a game played by children: ‘Let's agree that that tree is third base.’ Suppose my television set worked because my friends and I agreed that it worked. We could sit before a blank screen forever that way...."
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What happens when people learn that the only reason gold is valued so highly is because of good sales? It is a fact that gold is highly valued by and large, but that doesn't stop me from thinking of Golem on Lord of the Rings. How many of us actually need gold, except for tiny amounts in our electronics.
They know their academic theories aren't going to improve the commoners' lot in life, which is to say basically none at all except endless poverty. They do know their theories will perpetuate their scams, and that's all that matters to them. Maintaining the bullshit status quo is what matters.
The United States constitution states that you cannot do what the FED currently does, so why do we allow an unconstitutional organization to profit in our current society?
The sad thing is people place value on arbitrary things. Gold is nothing more then a shinny metal that has almost zero practical use besides when used in electronics. You can't eat or drink gold. If you were on an island and had all the gold in the world and no farm land, no fish or materials to build, you have nothing. Real value are in things that you will always need. Placing value in metals beyond they practical use is a primitive idea that must be outgrown if we are ever to move forward.
@moety2 true but you can't store food long enough for 20+ year investments or store them in large quantities at extended periods as if a bank to create capital because they'll just spoil and rot unlike metals. That's why they're used for coinage for thousands of years
@saintkatanalegacy Food isn't meant to be stored for that long and true investment would be to make sure your food production is sustainable and nutritious. Gold is finite on this planet. There will never be enough to go around equally which creates conflict (growing population). Conflict because of a arbitrary value that can be assigned to just about anything. What happens when you base your culture on something that is out of date and no longer needed? Answer, look at the world today.
@moety2 Food is also a finite resource. Land can support only a certain amount of production. Heck, people will even fight over food. The value of gold and other metals is derived from labor and production hence it is directly correlated with basic commodities such as food because energy is expended to acquire these goods. That's why you see them move in the same direction in the market. Conflict is a constant since time immemorial. Even animals fight over things through sheer instinct.
@saintkatanalegacy Food it is a resource that can be replenished. Food can be grown indoor so you can have skyscrapers or football stadium size buildings growing food all year round. People fight when there is not enough. Can one grow gold? So the potential to fight over gold it is high. The markets are a joke and a proven failure. No animals do not fight over instinct. That is so wrong I know you have not done any research into animal or human behavior. No uninformed assumptions please.
@moety2 It isn't an assumption but it's reality. Ever heard of male animals fighting over rights to mate? That is through sheer instinct. Are you aware that animals fight over territory too? Ever head of predation? Does survival of the fittest ring any bells? Yes food can be replenished BUT like I said is limited to how much land you plant it on to produce them and is therefore "finite"/scarce and they're rightly so that even food shortages occur.
@saintkatanalegacy Seriously your killing me. Look up a man named Robert Sapolsky. Instinct is a useless word. It is used when the variables that lead to actions are not known. So it seems like it is some programmed attribute when in fact they are not . As I said, you have not done any research. You go by what you think based on sight or popular opinion. Just take the time to learn and know what you are talking about because when you run into someone that does you seem rather silly.
@saintkatanalegacy Survival of the fittest is nonsense. "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change" Charles Darwin. So you are comparing a resource that can be replenished, that we can also increase and is a must for survival to one that can't on all 3 points? Does that make any logical sense? No. We could easily feed the worlds population many times over. Proven fact. Now Gold.... sigh
@moety2 Gold, counter-intuitive as it may be as a finite resource, *IS* a good thing. Unless you want to trade plain air, which also fits 3 of your "points".
@saintkatanalegacy If you think a finite resource that has little practical value, can't be replenished or increased and be used as a bases to get things is a good idea and won't lead to more problems and surely won't solve the existing ones then I leave you to that. Also I wasn't suggesting food be used as a means to trade. Just pointing out how poor your comparison was when you look the facts of food and gold.
@moety2 well, literally thousands of years of history recognizes gold and other metals as wealth even with all economic crashes that happened before because they *ARE* scarce resources. Like it or not, capitalism even with its imperfections *IS* the best type of economy. And if I'm not mistaken, you explicitly said, "You can't eat or drink gold." True and I replied to it accordingly. Being scarce per se already creates value and so is the labor/manufacturing process involved.
@saintkatanalegacy And out of those thousands of years what has remained the same? Religion and money. Should it be any wonder why the world is broke and backwards? Maybe because we have been trying to use ancient means to govern the 21 century. Capitalism is based on infinite growth on a finite planet. It foundation is flawed it acts like a cancer and there is no invisible hand coming to save the day. Scarce should be important if the item in question has a real tangible use.
@moety2 the reason why economies kept on collapsing is because of the (re)introduction of fiat currency. The more economies deviate from scarce resource standards, the more likely it will fall. As for your claim that nothing will save the day, look at Iceland. They let their system fail and they're doing better now. And there's no such thing as infinite growth and the economy has to be in equilibrium at some point which is the purpose of making something scarce as money.
@saintkatanalegacy Yes, I agree about why they collapse but you also have to take into account all the infrastructure, advancements in technology was made possible by the increase of fiat currency. We need to move past this self imposed limitation instead of thinking it can be fixed. Capitalism is based on infinite growth. Better doesn't = save. There are plenty of temporal things we can do to make things better, none of which address the root causes of the problems. Just more patch work.
@moety2 regardless of whether fiat currency exists or not, technology will advance. Fiat currency only increase baseless debts. Commodities, however, have actual basis ergo value and they make up the bulk of technology since they are tangible goods. Capitalism as infinite growth is heralded by the Keynesians since their economic school of thought relies on fiat currency in order to create "infinite" wealth which is the opposite of gold and silver standards which are finite.
@saintkatanalegacy Technology will as it is now advance at a snails pace. If there isn't enough money to fund research and development or if it will have a great positive impact but little financial gain what happens? It doesn't get done. Infinite grown is toss around by capitalist too also for capitalism to work requires constant consumption. Consumption slows is bad for the economy. Can't you see the logical problem with using finite metals for a growing population it will never be enough
@moety2 fiat currency isn't the only kind of money you can use to fund research. Even if you flood the market with money to suffice the population it will devaluate to being meaningless which is the fundamental problem of fiat currency because they do not expand in the rate which the market grows. It grows exponentially dangerous albeit unstable hence the term inflation. Crashes exist to correct the system. Nothing is ever enough in economics because you have to allocate scarce resources.
@saintkatanalegacy Stop wasting time telling me about fiat currency. I agree with it's problem. It doesn't matter what kind of money it is, by it's very construct there is going to be a limited supply in relationship to the population which = PROBLEM. With gold and silver it will be even more so. If there is no profit to be made from an advancement it gets little to no funding. This system is paralyzing, parasitic, broken and it can't be fixed. It's hilarious/depressing watching people try.
@saintkatanalegacy We agree. This system has corporations making millions/billions of dollars polluting the environment, making weapons, exploitation of people. A medical industry that ignores possible cures/treatments if they can make money off it. A system that bails out banks. Right now we have a system that rewards people rather handsomely for their irresponsible/destructive decisions that directly and indirectly effects just about everything. So what system you rather live in again? lol
@saintkatanalegacy How would it deal with corruption and the causes of it, wealth consolidation, resource exploitation, technological unemployment(masses job loss)? If one has no means to obtain money, how are they suppose to support the economy. These are the problems that are ramped today and going to the system you propose will not solve any of it. Face it, your ideal system will not change any of the major problems today
@moety2 sigh, I'm not even American but I actually understood what the American forefathers were thinking when they made the Declaration of Independence. Corruption in the govt can be reduced if it has no control over the market except judicial and arbitrary role. People have no means to get jobs or new business because of overregulation and heavy taxation. You can't create capital if there's no saving ergo it's not even capitalism that's causing the problem; it's the ponzi scheme running.
@saintkatanalegacy How long ago did the "forefathers" live? The advancements that we have today would be beyond their comprehension. Not taking anything from them but they were humans like everyone else. They also had slaves. You are incorrect about jobs. Learn about technological unemployment. If you had few regulations and no taxation it wouldn't matter. Machines do more work by far and more efficient. The easier it gets to make them the cheaper they are and they replace people.
@moety2 why would it be incorrect? Businesses provide jobs. Less businesses, less jobs. Even if you automate production, you can't remove the human factor from quality control. Likewise, you can't remove maintenance and engineering crew from the equation. You certainly can't replace certain services. Automation is only limited by what it is designed to make and that takes lots of resources to retool to become truly efficient. If you had less regulations and less taxation it *would* matter a LOT.
@saintkatanalegacy They are starting to make machines that repair machines now. Today it takes far less people to do a task then it once did. Nobody said the human factor will be removed but you would have to be blind or naive if you can't see how many jobs have been and continues to be replaced by machines. From agriculture to the car industry and now the service sector. All the machines have to do is be more efficient and cost effective then a human and that's exactly what's been happening
@saintkatanalegacy You are really out of touch with the state of affairs of technology and it's impact. People have been predicting this for decades. The mistake they made was they thought people would do what's logical and culture would change to fit the times. In the end it doesn't matter what you think. I know from our convo you are a person that does care and want things to get better as do I. The difference is you think an old flawed idea could work when all logical signs say it can't
@moety2 well, apparently you ignored the fact that people lost their jobs because of the economic depression. The current state of affairs of technology is exactly what I said: Overspecialized equipment for the sake of efficiency requires lots of resources to retool; engineering and maintenance crews exist; tools are there for diagnosis but what they can fix is limited to what they are programmed. You certainly can't rule out Moore's law which is why humans are needed as they grow more complex.
@saintkatanalegacy No, I haven't ignored it. It is a fact but it is noticed because it effects a lot of people very fast. Technological unemployment is like a snow ball effect. Before you know it, it's will be an avalanche. Car industry. Do you think the engineers and maintenance crew on hand even comes close to the amount of people that no longer work their building cars? This is now happening in the service sector where most of the jobs today reside. Moore's Law proves my point.
@moety2 that's because they've relocated their plants to ASEAN and other developing countries. The service sector on the other has been outsourced to India and Phil. Why is this happening? This is because overregulation puts pressure on inflation and consequently raises labor costs. Unemployment rises because they can't compete with other laborers. Resetting the system by letting it fail corrects this problem.
@saintkatanalegacy No, the go developing countries because they can pay people 50 cents - $2 an hour, have poor working environments and get away with it. Crying overregulation is a lame excuse. So in order to compete, people in the developed countries would have to be willing to work for those wages. You know the only places in the developed countries that can and does compete with those slave wages? Prisons. I would love to hear how a system reset will correct that. Please share.
@moety2 but then wage is relative to how much consumer goods costs in that particular country. Surprise, surprise they're lower despite having lower in monetary value. Why would overregulation be a lame excuse when in fact banks, oligarchs and other monopolies benefit from such economic environment where the small guy simply can't compete? Why is that? Well, US undeniably has lots of red tape, you have ever increasing taxes and small guys aren't big enough to receive bailouts.
@moety2 so how do you reset the system? Accept the fact that you can't pay your obligations. Let it default. Let the credit rating plummet in a nose dive. Let the investors pay the consequences of making their unwise decision of lending money to the US because there's no basis at all for the AAA rating. In short, let the dollar fail as did the ISK. Prices of goods will normalize and employment will rise as people become productive again because people will be reinvesting at bargain prices.
@saintkatanalegacy You misunderstand what I asked. How would a system reset correct companies going to other countries where they can pay the people there 50 cents-$2 and hr for their work. You honestly think they will bring work back where they would at the least have to pay minimum wage, health benefits and be up to standard on working conditions? No. Also what kind of jobs will these be? Mostly service jobs that are already being automated which is a waste of human potential and life.
@moety2 the system will reset because people will reinvest at bargain prices hence new businesses. If you're following Chinese inflation you'll know that there will be a reversal *if* they let the system fail. Chimerica as we know it can't go on forever so the correction will be a reversal. The pill is bitter but that's how you cure it.
@saintkatanalegacy Now you are just ignoring my question jumping thru hoops probably because you can't answer it . Lets assume you get your system reset. Here is my question for the 3rd time. How would a system reset correct companies going to other countries where they can pay the people there 50 cents-$2 and hr for their work? Also whats to stop other companies from doing the same thing which many are or they can't compete with those that do because the cheaper the labor the more profit?
@moety2 but you do know that while their savings increase through labor, their currency also appreciates which increases their buying power. the gist here is that their banks artificially inflate their respective currencies in order to be "competitive" in export. This in turn causes prices to inflate and so is labor cost. While this is only a short term benefit since the US will almost inevitably "switch" places with them, that being US becomes *the* exporter and developing ones as the importer.
@saintkatanalegacy what a load of rubbish. Rome introduced gold coins instead of the abundant copper and then collapsed. Making money scarce causes a collapse, havn't you heard of the crime of 1873.
@iglwy you're putting what I said out of context. What I meant was they are finite resources as in scarce. I never said to artificially make them really scarce but rather, being a commodity per se, it is representing the market. I'm not even comparing the two. The reason why Rome collapsed is because they can't support their vast empire financially and had to inflate their gold coins by chipping them which is sort of similar to what's happening now.
@RogerBravoLucas Bernanke is there to deceive people just like all those on cnn and nbc etc. The sooner you understand that the better. He knows very well what money is, and he wants to make sure only the eliete get their hands on real money.
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@smujismuj they sell gold for short term then buy them again just to make a quick buck in response to signs if you do market analysis, eg. Fibonacci sequence, trading triangle, etc.
although it's much smarter to invest on gold at permabull then short the dollar for lulz
Gold is not money today in the United States and worldwide. Bernanke response was perfect and honest. That being said congress should allow treasuries to default. Thus the fed could buy all debt at 0 percent interest.
@nadoeloiskat "Does this guy ever say anything positive?" Yes, unless you are a despot, a banking terrorist, or a fraud-pusher. then he spends time traveling to various global points teetering on the brink and gives practical advice. Maybe where you live will be a place for him to visit soon. maybe it is too late. jam corks in your ears and you won't notice the shit hit the fan sonically, but I but you'll still touch, taste and feel it.
Does anyone seriously think the fed wants their debt repaid? If so, you simply don't 'get it'. No more than the prison industry wants an end to crime; which incidentally would virtually disappear if we ended poverty[ not to mention, a lot cheaper. Or do you think the military industry wants an end to war? figure it out folks, war is simply crime on a grand scale. And speaking of the 'educated class'...aren't these the ones that have been running things straight into the ground? They make me sick
@thegeneraltheory Regardless, let them earn their own money... instead of a handout they have received from our tax money... to then turn around with talk about how chosen and promised they are over everyone else yet they need charity & welfare.... a nation of bums~!
Gold today break $1600 and silver is coming back up. I promiss myself to get a drive when it's $1600 and I think i would have do it in Aug but now I drink for joy tonight. chears!!!!!!!!!!!!!
@thegeneraltheory You're a Zionist; I checked your Youtube page: you only consider sources to be "credible, reputable" if they're pro-Zionist. You're not in the least bin honest or interested in truth or you'd have given ME some refutation of the historical facts I listed AND some "credible" sources of your INcredible claims.
I think its easy to say that gold is not money when you have currency that is currently functioning at an acceptable level. When the shit hits the fan lots of people are going to wish they thought otherwise.
@thegeneraltheory Why don't you quit misrepresenting history?! The ZIONISTS were in conflict with the Palestinians because of the Balfour Declaration (1914). And "much of Israel was bought" is a lie as the few "sales" were made at gunpoint (basic Zionist business practice there!), and Palestine was anything but "deserted". Deir Yassin was "deserted" by the invaders, of course, as were quite a few other places. You claim to know history but you never mention Balfour or Baron Rothschild, eh!
Bernanke must not be familiar with South African Krugerrands, Canadian maple leafs, Austrian philharmonics, Australian lunars, Mexican libertads, Chinese pandas, etc.
When the US finally collapses financially, it's all over for Israel; no more billions of the USA's increasingly worthless dollars to prop up its economy and no more nice shiny guns and planes and bombs.
The Zionist government is too fucking stupid to make peace with its neighbours and the Palestinians whose country it stole, so there's going to be quite a scramble to get back on the boats then. And you can bet that their erstwhile "allies" won't be taking too many of them in, either.
Gold is the currency of Shysters, Silver, the Hucksters, Debt, the Roman Ponzi Citizens, and a free man? Paper and Barter. Because anyone can trade, and print paper, but only a Commie would tell you the rest is the ONLY money that exists. It's like the sheepeople have never read ANY books outside Dr. Seuss, or Ru "Paytriot" Paul. Better...the law is clear...come with your gold and silver, and leave with it too, I am NOT required to accept it, and I WILL be the JUDGE of that.
@TheCaptainSlappy Good Captslappy because you will be left in the alley burning your paper money for heat! You speak like a little child! If "the government" and the banksters tell you that monopoly money is now the real money you will be good with that, I can assume?
Gold only represents buying power! just like money does! Money and gold are just symbols of buying power. Plus the logistics of actually pulling the 'swap' off is impossible, there simply isn't enough gold sitting in the Fed's fault to fill everyone pockets.
I wouldn't be surprised if gold and precious metals were soon banned from use as currency, to be held as only securities (if verified pure by banks). Due to the high volume of fake gold and silver increasing in the market, as well as complications concerning the buyers ability to verify purity, it would currently be difficult to use as actual currency, In other words, how is a vendor going to be able to tell if a bar of gold is entirely pure, especially when a line of customers are waiting?
FraterWroth 6 months ago
Is there any doubt after seeing this that Ben Bernanke has -no- business in the position as Chairman of the Fed?
Redfingers 6 months ago
It has just dawned on me....Bernanke is simular to the wizard of Oz
NYWAORCANZ 6 months ago
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Bernanke gave $ 1.2 trillion to the same Banks ( and their Hedge-Funds) that pushed and benefited from the 2008 Derivatives Disaster ( altogether $3 trillion 2008-'11) which is about the same amount that 6.5 million homeowners are in foreclosure or late-payments since '08, so the thieves get bailed-out and the victims get nothing ! and now they won't even re-finance these mortgages at a lower rate because they can't make the "profits" ! what a criminal shame ! financialtools1.blogspot.com
financialtools1 6 months ago
IF YOUR BERNANKE GOD IS SATAN AND THE ROTHCHILDS
MrStrontkut 6 months ago
values in being rich. Sometimes I see rich people are people spoiled from birth, who dont have ambitions or ideas, and persuit their ignorance for staying rich, while being rich is nowhere near to being a virtue.
Most rich people are just assholes. If I were to choose between 20.000bucks or 10.000.000 bucks. I would choose the 20.000. I have no fucking clue where to spend 10million on apart from shaping myself as a rich mach man.
No thanks.
Armigo91 6 months ago
and your future sales department will transact in gold currency.
People will be forced to use gold, rather then being aware that gold is money.
I wont buy loads of gold, why become or stay rich?
Money and capitalism is man made. Money and that which you can buy of it is all a dellusion.
If I want a boat, i get a fucking boat. And i dont care about the money arithmetics. People force me to care for their man made economic system i didnt ask for when I was born.
Just amazes me that peple find
Armigo91 6 months ago
GOld isnt money, cause we made it money. However, we will make gold money ourselves. Thats not tradition, thats because gold is money as it represents the backup of paper currency.
Gold doesnt inflate or deflate. Its paper money that inflates that causes gold prices to rise. And simply the interest for gold exempts the gold treasury causing gold prices to rise.
Gold is no money, we made it that. And yes your neighbour
Gold is a static value. It doesnt change, wether you lend or sell it.
Armigo91 6 months ago
LIBERTARIANMONARCHY . COM
ecnerwal999 6 months ago
gold is not money. gold is like any other goods, its value fluctuates. money values always fluctuates against other currencies. gold is the same price all over the world, therefore gold is not money. Bernanke was right when he said gold is not money.
schassse 6 months ago
Actually Bernanke trains people with has Ph.Ds. Kind of like Yoda for Jedi Masters.
mepath 6 months ago
It always amuses me immensely watching delusional backers, it reminds me of scenes from an asylum full of people that think they are Napoleon :)
Kinkspace 7 months ago
so now your saying the population doubles but gold and copper were finite so the per capita quantity of money halved leading to a collapse. a good argument against finite metal currency.I'm putting words in your mouth again?
iglwy 7 months ago
He talking about tail risk hes hiding his own tail
silverkingukable 7 months ago
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Real enemy of Greece, Europe & America - Jew
Goldman Sachs CEO, Lyold Blankfein is Jew
IMF Deputy CEO, John Lisky is Jew
Ex IMF CEO, Dominic Strauss is Jew
World Bank CEO, Robert Zoellick is Jew
Ex World Bank CEO, James Woolfesen is Jew
Fed Chairman, Ben Bernanke is Jew
Ex Fed Chairman, Alan Greenspan is Jew
Obama Treasury Secretary, Timothy Geithner is Jew
George Bush Treasury Secretary, Hank Paulson is Jew
Stevie68000 7 months ago
Bernanke is a useful idiot. Of course he knows what Ron Paul is talking about, he knows economics in and out. But his value system is messed up. He is programmed, like a lawyer, to consider both sides of an argument and is expected to be able to thoroughally explain the side favorable to his employers in a positive light. And he does a very good job of that.
His IQ is off the charts (American measure of worth)
His moral compass is skewed (Eastern measure of worth)
jaskaram 7 months ago
In my view the money it is just agreement. It is an idea. Money can be anything that people agree upon. And I will argue that invention of money was the beginning of class society. The idea was to use money to force naive people to work for the few who invented this idea who then would enjoy life and nature in its full without any work. This scenario is still working to this day. Billions of people are forced to work harder and harder for the money with means for the few who control this system.
tadekm2000 7 months ago 4
@tadekm2000 Just to add. Lest we forget Henry I of England's talley system: "During his reign, King Henry introduced a new monetary system known as the tally stick, which started primarily as a form of record keeping. Since tally sticks could be used to pay the taxes imposed by the king, he created a demand for tally sticks. This demand for tally sticks expanded their role and they began to circulate as a form of money. Retired in 1826."
goldenarms12 5 months ago
At $2,300 a troy ounce, the dollar is worth nothing. Minus one cent in relation to gold, it is when the dollar will go away and many people will die. Vote Ron Paul and save yourselves.
danz177 7 months ago
The Zeitgeist Movement (TZM) has been showing that we have the ability to generate energy, food, housing, health and education for everyone in the world, while, at the same time, we are able to ELIMINATE OUR ECONOMICAL, SOCIAL & ECOLOGICAL CRISIS along with corruption, poverty, abuse of power, unemployment, social stratification, and other factors that hinder the life and sustainability of the planet and its inhabitants.To know more about it, watch: "Zeitgeist Addendum" - It is on youtube
:)
FS
FactualSolutions 7 months ago
@FactualSolutions Truth!!!
moety2 7 months ago
In 1895, at the depths of the Panic of 1893, the Federal Treasury was nearly out of gold. President Grover Cleveland arranged for J.P. Morgan to create a private syndicate on Wall Street to supply the U.S. Treasury with $6.5 million in gold, to float a bond issue that restored the treasury surplus of $7 million. The episode saved the Treasury and made the US the financial capital of the world !!!
DOWJONI 7 months ago
Ben Bernanke the Jew wants to protect the foreign bank known as the Federal Reserve wich is Jew owned wich keeps all Americans and the Government in debt..
Solution to the problem+ridding Jews out of Government= a debt free American Government wich has the right to print its own coin..Same thing happened to Germany before Hitler, people were homeless,broke,starveing,economy was being sucked dry
MegaBradybunch 7 months ago
@moety2, @saintkatanalegacy, @phildobson2010, @337noname, @lawyerscumghost, @spyletu, @rustynailskd,@nateworksfromhome,
Gold seems kinda arbitrary as a choice for backing a currency. It has little intrinsic value/utility, but does have some inherent relative scarcity. But "fiat currency" can have even more relative scarcity ....if you can control your 'money supply' and debt propensity and avoid counterfeiting.
ProNorden 7 months ago
@ProNorden the citizens should decide what they use as money, not the government. You say gold has no value? In 1999 it was $300/oz., now it is $1,500/oz. I'll take gold and silver any day over a worthless piece of paper or computer credit. China and India are buying literally TONS of gold because they know the dollar will eventually crash. No society has successfully controlled fiat currency, it always leads to the destruction of the currency.
LawyerScumGhost 7 months ago
@LawyerScumGhost it's actually near 1600/oz levels. Come Aug 2 it will be even higher but it's expected since real money = permabull
saintkatanalegacy 7 months ago
@saintkatanalegacy Yeah, gold will hit $2000 and the paper bugs will insist it's just a bubble (a 10 year+ bubble). They said the same thing at $1000 and $1500. As long as the U.S. continues this course of action, gold and silver will continue to rise. The returns on gold beat Warren Buffet's much envied Berkshire Hathaway stock for 9 out of the past 10 years, and that crusty Wall Street scumbag has the gall to call gold a bad investment.
LawyerScumGhost 7 months ago
@LawyerScumGhost ...thanks for your reply. I said "little intrinsic value/utility" ... apart from whatever value some of us attribute to it. Lots of people like bright, shiny things I s'pose. And then there's the "Greater Fool theory".
ProNorden 7 months ago
@ProNorden It is obvious to me that the greatest fool is someone who still has not invested in silver or gold. Of course, I guess we could dispense with 6,000 years of human economic activity in which gold and silver have never had any problem finding a buyer; which would be the only way the "greater fool theory" applies to the situation.
LawyerScumGhost 7 months ago
@ProNorden I agree but all of this is pointless if people do not have jobs in order to get money. We have a growing population. There is massive unemployment. You have millions who are employed barely surviving. No money policy or new currency or regulation will fix that. There is no new job sector coming in that can possibly employ so many displaced workers. This game is over, and most don't even realize it. They will eventually and that's when shit is gonna hit the fan.
moety2 7 months ago
It's too late for about 99% of americans. Debt up to their eyeballs, they can't even afford silver let alone Gold. If I was personally in that situation I would stop paying my bills and go all in. Soon the majoritu of ppl will be walking away from their mortgages anyway.
NateWorksFromHome 7 months ago
Gold never stop an economy from crashing in the past. Why believe it would be any different now?
337noname 7 months ago
@337noname there were regional instabilities before central bank was created.. but not a nation wide crisis.
spyletu 7 months ago
@spyletu Besides the The Great Depression and the Panic of 1873, there have been boom and bust economic cycles through out the history of mankind. Sorry. Gold is not going to change the world into some Utopian dream no matter how much you and Ron Paul believe in it.
337noname 7 months ago
@337noname The Great Depression occurred AFTER we went to the Federal Reserve/central bank scheme (for the 3rd time, the other 2 U.S. central banks were eliminated). Gold is not the ultimate answer nor a key to Utopia. Neither Ron Paul or myself ever said anything like that. You are regurgitating things others have told you rather than to think for yourself. Dr. Paul has been saying for decades what was going to happen to our economy if we kept our fiat system, and he was 100% correct.
LawyerScumGhost 7 months ago
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@LawyerScumGhost Right. I'm regurgitating things others have told me but you speak the word of Dr. Paul. Oh well. People need to believe in something I reckon. LOL
337noname 7 months ago
@337noname Fiat currencies have never lasted because they are intrinsically worthless. Why believe it would be any different now?
LawyerScumGhost 7 months ago
@LawyerScumGhost Did I say a fiat currency would last or is different? Of course not. It's our human folly that creates booms and busts, not money itself.
337noname 7 months ago
@337noname The boom/bust cycle is a direct result of our fiat currency system; the Federal Reserve can pump limitless amounts of credit into the system, which Wall Street loves to gamble with. Why not? If they lose they can just make us idiots pay for it. A real tangible asset like gold can't be manufactured out of thin air like the dollar, so there is a natural limit on the amount of money in the system. The bankers hate this because their power lies in money creation and interest payments.
LawyerScumGhost 7 months ago
@LawyerScumGhost Besides the The Great Depression and the Panic of 1873, there have been other boom and bust economic cycles when gold was the coin of the realm. Our current bust cycle isn't helped by our fiat crrency but won't be solve by going back to a gold standard. BTW, I think our current bust cycle is a direct result of our own hubris in beleiveing we can have our cake and eat it too. Obviously the Bush tax cuts didn't create jobs and easy money didn't make every home owner a king.
337noname 7 months ago
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337noname 7 months ago
Ron Paul 2012!
RustynailsKD 7 months ago
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TheENTERRAPTURE17 7 months ago
Cory C and Rawdog are creating the NWO --- > watch?v=OSAogqqLYAk
CruisinDaNap 7 months ago
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TheENTERRAPTURE17 7 months ago
"Paper money eventually returns to its intrinsic value --- zero."
Voltaire (1694-1778)
MRWAYLAND 7 months ago
Let's see if I got this right. Gold is not money but paper dollars printed out of thin air is money. WTF!
czubspenx 7 months ago 11
@czubspenx in technical economic terms, gold itself is not money. depends on how you look at it. For Bernanke, who probably has a Ph.D in economics, it is normal for him to consider gold to not be money
monkeyboyn25 7 months ago
buy gold to protest against STUPID BERNANKE......
MeccaEen 7 months ago
I would love to find some random gold around in my yard right now.
rubanban 7 months ago
Gold is the universal currency, we have so much money made out of thin air, that they are not even worth value but debt... with interests that is impossible to pay.
DoNotLaughAtMe 7 months ago
fuck bernanke and the feds
BaphometXIV 7 months ago
If Ron Paul was in Bernake shoes, things would be a lot better.
soloexitos1 7 months ago
Academia tries to make economics into a real subject by making it complex with complicated math formulas so the professors can get incredibly rich and students spend years paying off their college loans. Economics can be learned by kindergarten once you understand that it's all about single transactions between two mutually agreeing parties to exchange goods and services.
hodoprime 7 months ago
poor Paul is interrogating an ignorant mouthpiece..
miksajlo 7 months ago
This ppl runing our country
sujhon2011 7 months ago
Those digits on a screen are worth less every day. Those lies about recovery are worth less every second. Most people are STILL clueless about Past Labor Time. Once you are given a paycheck, you are ALREADY into the concept of Past Labor Time. If you wait more than a few weeks or months to protect your PAST LABOR TIME stored in FIAT, YOU WILL LOSE IT'S POWER! Fiat is a disgusting fraud sold by academics who are poor compared to investors. And, they do not know you even exist or give a ****
marinello6 7 months ago
bernake prints fake shit called federal reserve notes and says that gold is not money. .anything that is of value is money .. what a dumbass. i would truat real estate, goods and gold alot more than gold for sure.. it is a joke.. the feferal reserve are crooks and thieves just like the federal government. dollare devaluation by design is what is happening. they are bankrupting people who worked hard and saved.. shame on them..
tonytonytee 7 months ago
bernake prints fake shit called federal reserve notes and says that gold is not money. .anything that is of value is money .. what a dumbass. i would truat real estate, goods and gold alot more than gold for sure.. it is a joke.. the feferal reserve are crooks and thieves just like the federal government.
tonytonytee 7 months ago
gold only works as money for the rich
sozfan1 7 months ago
lol!
edeneating 7 months ago
The whole currency model is greatly flawed and always has been. It doesn't matter if it's gold or paper, the basic structure of a few controlling the wealth while the masses struggle is untenable. People are no longer willing to be spectators in life, sitting on the sidelines of poverty while a few get to play. The era of a human's worth or right to life being directly tied to his/her access to currency must end. Stunning how we've let this control us so entirely despite how we suffer under it.
tvswnet 7 months ago
@tvswnet Couldn't have said it better brother.
moety2 7 months ago
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tvswnet 7 months ago
I wanna marry Max Keiser. no homo
anonymootle 7 months ago
Do you think Bernanke talks S#!T, YES
racenemo 7 months ago
The future is bitcoin
ArchNME 7 months ago
At a single stroke, Roosevelt increased the government's gold assets, stabilized the monetary system and increased wholesale prices by more than 33 percent. However, he also inflicted losses of 40 percent on gold owners and stripped them of the gold that they saved to insure their financial futures.
007HubbaBubba 7 months ago
@007HubbaBubba ... in 1933, Franklin Delano Roosevelt dealt with a monetary and banking crisis by confiscating all privately owned gold; paying for the gold at $20.67 per ounce; immediately devaluing the dollar by 40 percent; and setting the price of gold at $35.00 per ounce..
007HubbaBubba 7 months ago
Excellent picture in HD or something similar, now let's work on the sound and video synchrinization aspect of this whole ordeal, please sir!@
007HubbaBubba 7 months ago
Britain has the Gold Standard, this is why China is hedge funds are in Gold,
MsElizabethFernandez 7 months ago
Gold, they can't print it at will to bail out their buddies by the fucking billions.
YochananT 7 months ago
Philip K. Dick on the Gold Standard: “…It seems to me to be nothing more than a social convention, such as wearing matching socks. In another way it's like the value of Gold. The value of Gold is what people agree on, which is like a game played by children: ‘Let's agree that that tree is third base.’ Suppose my television set worked because my friends and I agreed that it worked. We could sit before a blank screen forever that way...."
bulldogger 7 months ago
Gold's value has not changed - paper money reduces in value in proportion to how much is printed.
In 1955 UK house cost £3,000 or 240oz of Gold approximately. Now is till worth 240oz of Gold £240,000
Its our savings that are being stolen by Fiat money printer/lenders
PhilDobson2010 7 months ago 5
@PhilDobson2010 .aka: "The Fruits of our Labor"
007HubbaBubba 7 months ago
Yes protection, from a crisis they created!!
Osama Ben Bernanke is the greatest financial terrorist of all time.
Drumvain 7 months ago 2
A god damned ounce was $20 when money was really money....Now to buy an ounce its $1600 + premium. Marinate on that.
superluminalthought 7 months ago
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TheENTERRAPTURE17 7 months ago
What happens when people learn that the only reason gold is valued so highly is because of good sales? It is a fact that gold is highly valued by and large, but that doesn't stop me from thinking of Golem on Lord of the Rings. How many of us actually need gold, except for tiny amounts in our electronics.
stevenweir76 7 months ago
@mikailmari
If it were not for legal tender laws giving the FED a monopoly you could...
viehe69 7 months ago
They know their academic theories aren't going to improve the commoners' lot in life, which is to say basically none at all except endless poverty. They do know their theories will perpetuate their scams, and that's all that matters to them. Maintaining the bullshit status quo is what matters.
HyperIndividualist 7 months ago
New Episode comes out today! I will watch it before I go to work :)
TheReapersSon 7 months ago
The United States constitution states that you cannot do what the FED currently does, so why do we allow an unconstitutional organization to profit in our current society?
TheReapersSon 7 months ago
fantastic liar!!!!!!!!!!!!!!! wow Hahhahha hhaaahahaha does he think we don't get the debt standard is just foolish and fantasy economics? wild
iamours 7 months ago
Haha the title is hilarious
XXIIXLXXXIX 7 months ago 18
Till it drops big time like before.
Hobby331 7 months ago
The sad thing is people place value on arbitrary things. Gold is nothing more then a shinny metal that has almost zero practical use besides when used in electronics. You can't eat or drink gold. If you were on an island and had all the gold in the world and no farm land, no fish or materials to build, you have nothing. Real value are in things that you will always need. Placing value in metals beyond they practical use is a primitive idea that must be outgrown if we are ever to move forward.
moety2 7 months ago
@moety2 true but you can't store food long enough for 20+ year investments or store them in large quantities at extended periods as if a bank to create capital because they'll just spoil and rot unlike metals. That's why they're used for coinage for thousands of years
saintkatanalegacy 7 months ago
@saintkatanalegacy Food isn't meant to be stored for that long and true investment would be to make sure your food production is sustainable and nutritious. Gold is finite on this planet. There will never be enough to go around equally which creates conflict (growing population). Conflict because of a arbitrary value that can be assigned to just about anything. What happens when you base your culture on something that is out of date and no longer needed? Answer, look at the world today.
moety2 7 months ago
@moety2 Food is also a finite resource. Land can support only a certain amount of production. Heck, people will even fight over food. The value of gold and other metals is derived from labor and production hence it is directly correlated with basic commodities such as food because energy is expended to acquire these goods. That's why you see them move in the same direction in the market. Conflict is a constant since time immemorial. Even animals fight over things through sheer instinct.
saintkatanalegacy 7 months ago
@saintkatanalegacy Food it is a resource that can be replenished. Food can be grown indoor so you can have skyscrapers or football stadium size buildings growing food all year round. People fight when there is not enough. Can one grow gold? So the potential to fight over gold it is high. The markets are a joke and a proven failure. No animals do not fight over instinct. That is so wrong I know you have not done any research into animal or human behavior. No uninformed assumptions please.
moety2 7 months ago
@moety2 It isn't an assumption but it's reality. Ever heard of male animals fighting over rights to mate? That is through sheer instinct. Are you aware that animals fight over territory too? Ever head of predation? Does survival of the fittest ring any bells? Yes food can be replenished BUT like I said is limited to how much land you plant it on to produce them and is therefore "finite"/scarce and they're rightly so that even food shortages occur.
saintkatanalegacy 7 months ago
@saintkatanalegacy Seriously your killing me. Look up a man named Robert Sapolsky. Instinct is a useless word. It is used when the variables that lead to actions are not known. So it seems like it is some programmed attribute when in fact they are not . As I said, you have not done any research. You go by what you think based on sight or popular opinion. Just take the time to learn and know what you are talking about because when you run into someone that does you seem rather silly.
moety2 7 months ago
@saintkatanalegacy Survival of the fittest is nonsense. "It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change" Charles Darwin. So you are comparing a resource that can be replenished, that we can also increase and is a must for survival to one that can't on all 3 points? Does that make any logical sense? No. We could easily feed the worlds population many times over. Proven fact. Now Gold.... sigh
moety2 7 months ago
@moety2 Gold, counter-intuitive as it may be as a finite resource, *IS* a good thing. Unless you want to trade plain air, which also fits 3 of your "points".
saintkatanalegacy 7 months ago
@saintkatanalegacy If you think a finite resource that has little practical value, can't be replenished or increased and be used as a bases to get things is a good idea and won't lead to more problems and surely won't solve the existing ones then I leave you to that. Also I wasn't suggesting food be used as a means to trade. Just pointing out how poor your comparison was when you look the facts of food and gold.
moety2 7 months ago
@moety2 well, literally thousands of years of history recognizes gold and other metals as wealth even with all economic crashes that happened before because they *ARE* scarce resources. Like it or not, capitalism even with its imperfections *IS* the best type of economy. And if I'm not mistaken, you explicitly said, "You can't eat or drink gold." True and I replied to it accordingly. Being scarce per se already creates value and so is the labor/manufacturing process involved.
saintkatanalegacy 7 months ago
@saintkatanalegacy And out of those thousands of years what has remained the same? Religion and money. Should it be any wonder why the world is broke and backwards? Maybe because we have been trying to use ancient means to govern the 21 century. Capitalism is based on infinite growth on a finite planet. It foundation is flawed it acts like a cancer and there is no invisible hand coming to save the day. Scarce should be important if the item in question has a real tangible use.
moety2 7 months ago
@moety2 the reason why economies kept on collapsing is because of the (re)introduction of fiat currency. The more economies deviate from scarce resource standards, the more likely it will fall. As for your claim that nothing will save the day, look at Iceland. They let their system fail and they're doing better now. And there's no such thing as infinite growth and the economy has to be in equilibrium at some point which is the purpose of making something scarce as money.
saintkatanalegacy 7 months ago
@saintkatanalegacy Yes, I agree about why they collapse but you also have to take into account all the infrastructure, advancements in technology was made possible by the increase of fiat currency. We need to move past this self imposed limitation instead of thinking it can be fixed. Capitalism is based on infinite growth. Better doesn't = save. There are plenty of temporal things we can do to make things better, none of which address the root causes of the problems. Just more patch work.
moety2 7 months ago
@moety2 regardless of whether fiat currency exists or not, technology will advance. Fiat currency only increase baseless debts. Commodities, however, have actual basis ergo value and they make up the bulk of technology since they are tangible goods. Capitalism as infinite growth is heralded by the Keynesians since their economic school of thought relies on fiat currency in order to create "infinite" wealth which is the opposite of gold and silver standards which are finite.
saintkatanalegacy 7 months ago
@saintkatanalegacy Technology will as it is now advance at a snails pace. If there isn't enough money to fund research and development or if it will have a great positive impact but little financial gain what happens? It doesn't get done. Infinite grown is toss around by capitalist too also for capitalism to work requires constant consumption. Consumption slows is bad for the economy. Can't you see the logical problem with using finite metals for a growing population it will never be enough
moety2 7 months ago
@moety2 fiat currency isn't the only kind of money you can use to fund research. Even if you flood the market with money to suffice the population it will devaluate to being meaningless which is the fundamental problem of fiat currency because they do not expand in the rate which the market grows. It grows exponentially dangerous albeit unstable hence the term inflation. Crashes exist to correct the system. Nothing is ever enough in economics because you have to allocate scarce resources.
saintkatanalegacy 7 months ago
@saintkatanalegacy Stop wasting time telling me about fiat currency. I agree with it's problem. It doesn't matter what kind of money it is, by it's very construct there is going to be a limited supply in relationship to the population which = PROBLEM. With gold and silver it will be even more so. If there is no profit to be made from an advancement it gets little to no funding. This system is paralyzing, parasitic, broken and it can't be fixed. It's hilarious/depressing watching people try.
moety2 7 months ago
@moety2 well, I'd rather live in a system that doesn't reward people for their irresponsible decisions.
saintkatanalegacy 7 months ago
@saintkatanalegacy We agree. This system has corporations making millions/billions of dollars polluting the environment, making weapons, exploitation of people. A medical industry that ignores possible cures/treatments if they can make money off it. A system that bails out banks. Right now we have a system that rewards people rather handsomely for their irresponsible/destructive decisions that directly and indirectly effects just about everything. So what system you rather live in again? lol
moety2 7 months ago
@moety2 obviously a freemarket capitalist system with decentralized currency
saintkatanalegacy 7 months ago
@saintkatanalegacy How would it deal with corruption and the causes of it, wealth consolidation, resource exploitation, technological unemployment(masses job loss)? If one has no means to obtain money, how are they suppose to support the economy. These are the problems that are ramped today and going to the system you propose will not solve any of it. Face it, your ideal system will not change any of the major problems today
moety2 7 months ago
@moety2 sigh, I'm not even American but I actually understood what the American forefathers were thinking when they made the Declaration of Independence. Corruption in the govt can be reduced if it has no control over the market except judicial and arbitrary role. People have no means to get jobs or new business because of overregulation and heavy taxation. You can't create capital if there's no saving ergo it's not even capitalism that's causing the problem; it's the ponzi scheme running.
saintkatanalegacy 7 months ago
@saintkatanalegacy How long ago did the "forefathers" live? The advancements that we have today would be beyond their comprehension. Not taking anything from them but they were humans like everyone else. They also had slaves. You are incorrect about jobs. Learn about technological unemployment. If you had few regulations and no taxation it wouldn't matter. Machines do more work by far and more efficient. The easier it gets to make them the cheaper they are and they replace people.
moety2 7 months ago
@moety2 why would it be incorrect? Businesses provide jobs. Less businesses, less jobs. Even if you automate production, you can't remove the human factor from quality control. Likewise, you can't remove maintenance and engineering crew from the equation. You certainly can't replace certain services. Automation is only limited by what it is designed to make and that takes lots of resources to retool to become truly efficient. If you had less regulations and less taxation it *would* matter a LOT.
saintkatanalegacy 7 months ago
@saintkatanalegacy They are starting to make machines that repair machines now. Today it takes far less people to do a task then it once did. Nobody said the human factor will be removed but you would have to be blind or naive if you can't see how many jobs have been and continues to be replaced by machines. From agriculture to the car industry and now the service sector. All the machines have to do is be more efficient and cost effective then a human and that's exactly what's been happening
moety2 7 months ago
@saintkatanalegacy You are really out of touch with the state of affairs of technology and it's impact. People have been predicting this for decades. The mistake they made was they thought people would do what's logical and culture would change to fit the times. In the end it doesn't matter what you think. I know from our convo you are a person that does care and want things to get better as do I. The difference is you think an old flawed idea could work when all logical signs say it can't
moety2 7 months ago
@moety2 well, apparently you ignored the fact that people lost their jobs because of the economic depression. The current state of affairs of technology is exactly what I said: Overspecialized equipment for the sake of efficiency requires lots of resources to retool; engineering and maintenance crews exist; tools are there for diagnosis but what they can fix is limited to what they are programmed. You certainly can't rule out Moore's law which is why humans are needed as they grow more complex.
saintkatanalegacy 7 months ago
@saintkatanalegacy No, I haven't ignored it. It is a fact but it is noticed because it effects a lot of people very fast. Technological unemployment is like a snow ball effect. Before you know it, it's will be an avalanche. Car industry. Do you think the engineers and maintenance crew on hand even comes close to the amount of people that no longer work their building cars? This is now happening in the service sector where most of the jobs today reside. Moore's Law proves my point.
moety2 7 months ago
@moety2 that's because they've relocated their plants to ASEAN and other developing countries. The service sector on the other has been outsourced to India and Phil. Why is this happening? This is because overregulation puts pressure on inflation and consequently raises labor costs. Unemployment rises because they can't compete with other laborers. Resetting the system by letting it fail corrects this problem.
saintkatanalegacy 7 months ago
@saintkatanalegacy No, the go developing countries because they can pay people 50 cents - $2 an hour, have poor working environments and get away with it. Crying overregulation is a lame excuse. So in order to compete, people in the developed countries would have to be willing to work for those wages. You know the only places in the developed countries that can and does compete with those slave wages? Prisons. I would love to hear how a system reset will correct that. Please share.
moety2 7 months ago
@moety2 but then wage is relative to how much consumer goods costs in that particular country. Surprise, surprise they're lower despite having lower in monetary value. Why would overregulation be a lame excuse when in fact banks, oligarchs and other monopolies benefit from such economic environment where the small guy simply can't compete? Why is that? Well, US undeniably has lots of red tape, you have ever increasing taxes and small guys aren't big enough to receive bailouts.
saintkatanalegacy 7 months ago
@moety2 so how do you reset the system? Accept the fact that you can't pay your obligations. Let it default. Let the credit rating plummet in a nose dive. Let the investors pay the consequences of making their unwise decision of lending money to the US because there's no basis at all for the AAA rating. In short, let the dollar fail as did the ISK. Prices of goods will normalize and employment will rise as people become productive again because people will be reinvesting at bargain prices.
saintkatanalegacy 7 months ago
@saintkatanalegacy You misunderstand what I asked. How would a system reset correct companies going to other countries where they can pay the people there 50 cents-$2 and hr for their work. You honestly think they will bring work back where they would at the least have to pay minimum wage, health benefits and be up to standard on working conditions? No. Also what kind of jobs will these be? Mostly service jobs that are already being automated which is a waste of human potential and life.
moety2 7 months ago
@moety2 the system will reset because people will reinvest at bargain prices hence new businesses. If you're following Chinese inflation you'll know that there will be a reversal *if* they let the system fail. Chimerica as we know it can't go on forever so the correction will be a reversal. The pill is bitter but that's how you cure it.
saintkatanalegacy 7 months ago
@saintkatanalegacy Now you are just ignoring my question jumping thru hoops probably because you can't answer it . Lets assume you get your system reset. Here is my question for the 3rd time. How would a system reset correct companies going to other countries where they can pay the people there 50 cents-$2 and hr for their work? Also whats to stop other companies from doing the same thing which many are or they can't compete with those that do because the cheaper the labor the more profit?
moety2 7 months ago
@moety2 but you do know that while their savings increase through labor, their currency also appreciates which increases their buying power. the gist here is that their banks artificially inflate their respective currencies in order to be "competitive" in export. This in turn causes prices to inflate and so is labor cost. While this is only a short term benefit since the US will almost inevitably "switch" places with them, that being US becomes *the* exporter and developing ones as the importer.
saintkatanalegacy 7 months ago
@saintkatanalegacy what a load of rubbish. Rome introduced gold coins instead of the abundant copper and then collapsed. Making money scarce causes a collapse, havn't you heard of the crime of 1873.
iglwy 7 months ago
@iglwy copper IS also a scarce resource. Making money not scarce ultimately leads to hyperinflation.
saintkatanalegacy 7 months ago
@saintkatanalegacy gold $1600 per troy ounce, copper $8000 per ton, so copper ia also scarce but compared to gold?
iglwy 7 months ago
@iglwy you're putting what I said out of context. What I meant was they are finite resources as in scarce. I never said to artificially make them really scarce but rather, being a commodity per se, it is representing the market. I'm not even comparing the two. The reason why Rome collapsed is because they can't support their vast empire financially and had to inflate their gold coins by chipping them which is sort of similar to what's happening now.
saintkatanalegacy 7 months ago
@RogerBravoLucas Bernanke is there to deceive people just like all those on cnn and nbc etc. The sooner you understand that the better. He knows very well what money is, and he wants to make sure only the eliete get their hands on real money.
araarmo 7 months ago
gold is unlike any other money, that is why i want it. well i really want silver , lol
bodyheals 7 months ago
BEN is RIGHT - No way Gold is money in the 21st century.
TheBebelehaut 7 months ago
@tuzmor I disagree with you about gold, but FUCK YEAH, I certainly own and use Bitcoins. :)
labrusca10 7 months ago
When the shit hits the fan all the gold in the world won't mean squat.
togalogs 7 months ago
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TheENTERRAPTURE17 7 months ago
10 thousand price target
what are you expecting the fed to print the entire federal deficit
....
oh shit......
TheBlitz1 7 months ago
Interesting that if gold is such a great investment, why are so many businesses selling it?
smujismuj 7 months ago
@smujismuj they sell gold for short term then buy them again just to make a quick buck in response to signs if you do market analysis, eg. Fibonacci sequence, trading triangle, etc.
although it's much smarter to invest on gold at permabull then short the dollar for lulz
saintkatanalegacy 7 months ago
I just noticed that Stacey is not only beautiful but also sexy
amgalanbator 7 months ago
@amgalanbator Sexiest woman in the universe...
dikraneg 7 months ago
" Paper is poverty. It is the ghost of money and not money itself"-Jefferson
EMPIRE0FLIES 7 months ago 26
@EMPIRE0FLIES Exactly. Paper money is just another version of a 'cheque'. There is no substance.
jubzfree 7 months ago
Gold is not money today in the United States and worldwide. Bernanke response was perfect and honest. That being said congress should allow treasuries to default. Thus the fed could buy all debt at 0 percent interest.
pirucreek 7 months ago
Does this guy ever say anything positive?
An example: "I like Israel" or "USA will get out of debt in less than an year" or something else similar..
nadoeloiskat 7 months ago
@nadoeloiskat "Does this guy ever say anything positive?" Yes, unless you are a despot, a banking terrorist, or a fraud-pusher. then he spends time traveling to various global points teetering on the brink and gives practical advice. Maybe where you live will be a place for him to visit soon. maybe it is too late. jam corks in your ears and you won't notice the shit hit the fan sonically, but I but you'll still touch, taste and feel it.
waterspindle 7 months ago
FUCK YEAH RON PAUL!
Czaendermajer 7 months ago
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Czaendermajer 7 months ago
Does anyone seriously think the fed wants their debt repaid? If so, you simply don't 'get it'. No more than the prison industry wants an end to crime; which incidentally would virtually disappear if we ended poverty[ not to mention, a lot cheaper. Or do you think the military industry wants an end to war? figure it out folks, war is simply crime on a grand scale. And speaking of the 'educated class'...aren't these the ones that have been running things straight into the ground? They make me sick
christophercredit 7 months ago
Gold & Silver is wealth , paper is just that , paper , and yes , paper basically grows on trees
MrArizonaGuy 7 months ago
@MrArizonaGuy Its not paper. its a hybrid cotton that only the Federal reserve can grow.
WizzRacing 7 months ago
I dont want debt anymore, just money!
unpredictable420 7 months ago
@thegeneraltheory Regardless, let them earn their own money... instead of a handout they have received from our tax money... to then turn around with talk about how chosen and promised they are over everyone else yet they need charity & welfare.... a nation of bums~!
wingedlightning 7 months ago
The Ben Bernake shits himself when he hears the G word.
AustralianLeprechaun 7 months ago
Gold today break $1600 and silver is coming back up. I promiss myself to get a drive when it's $1600 and I think i would have do it in Aug but now I drink for joy tonight. chears!!!!!!!!!!!!!
jnnycliff 7 months ago
@thegeneraltheory You're a Zionist; I checked your Youtube page: you only consider sources to be "credible, reputable" if they're pro-Zionist. You're not in the least bin honest or interested in truth or you'd have given ME some refutation of the historical facts I listed AND some "credible" sources of your INcredible claims.
But you're a liar and a Zionist pig.
Pardon my redundancy...
KaptKan1 7 months ago
".........................NO" lol
bonnolog 7 months ago
I think its easy to say that gold is not money when you have currency that is currently functioning at an acceptable level. When the shit hits the fan lots of people are going to wish they thought otherwise.
grecorivera 7 months ago
Bernanke & his two friends did not like this video.
Drumvain 7 months ago
@thegeneraltheory Why don't you quit misrepresenting history?! The ZIONISTS were in conflict with the Palestinians because of the Balfour Declaration (1914). And "much of Israel was bought" is a lie as the few "sales" were made at gunpoint (basic Zionist business practice there!), and Palestine was anything but "deserted". Deir Yassin was "deserted" by the invaders, of course, as were quite a few other places. You claim to know history but you never mention Balfour or Baron Rothschild, eh!
KaptKan1 7 months ago
Bernanke must not be familiar with South African Krugerrands, Canadian maple leafs, Austrian philharmonics, Australian lunars, Mexican libertads, Chinese pandas, etc.
mrbhave 7 months ago
@mrbhave Bernanke isn't familiar with truth or reality.
KaptKan1 7 months ago
When the US finally collapses financially, it's all over for Israel; no more billions of the USA's increasingly worthless dollars to prop up its economy and no more nice shiny guns and planes and bombs.
The Zionist government is too fucking stupid to make peace with its neighbours and the Palestinians whose country it stole, so there's going to be quite a scramble to get back on the boats then. And you can bet that their erstwhile "allies" won't be taking too many of them in, either.
KaptKan1 7 months ago
Gold is the currency of Shysters, Silver, the Hucksters, Debt, the Roman Ponzi Citizens, and a free man? Paper and Barter. Because anyone can trade, and print paper, but only a Commie would tell you the rest is the ONLY money that exists. It's like the sheepeople have never read ANY books outside Dr. Seuss, or Ru "Paytriot" Paul. Better...the law is clear...come with your gold and silver, and leave with it too, I am NOT required to accept it, and I WILL be the JUDGE of that.
TheCaptainSlappy 7 months ago
@TheCaptainSlappy Good Captslappy because you will be left in the alley burning your paper money for heat! You speak like a little child! If "the government" and the banksters tell you that monopoly money is now the real money you will be good with that, I can assume?
vambo13257 7 months ago
Gold only represents buying power! just like money does! Money and gold are just symbols of buying power. Plus the logistics of actually pulling the 'swap' off is impossible, there simply isn't enough gold sitting in the Fed's fault to fill everyone pockets.
kojimapie 7 months ago
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kojimapie 7 months ago