tinecu Posted October 30, 2008 Report Share Posted October 30, 2008 Yeah, pro constitution anarchists It's quite funny reading really. And shows what the common world view is like. For 'anarachist' I read 'pro-libertarian anti-statist' and their arguments usually make more sense... Fiat is statist thieving IMO. Link to comment Share on other sites More sharing options...
littledavesab Posted October 30, 2008 Report Share Posted October 30, 2008 I wonder how many of you Gold Bugs know this: The tale of THE WHIZZARD OF OZ is actually the story of the gold standard - whow! Nursery Rhymes will never be the same again - and I have a little one (20 months) Hugh Hendry's interview is a bit old 2006 - but is interesting still - includes other stuff also and shows you how aware he was back then http://www.resourceinvestor.com/pebble.asp?relid=17287 HUGH HENDRY: Sure. The Wizard of Oz was actually written as a political commentary - an allegory of an event which happened to the U.S. economy in 1873. Back then America came off of what’s called the buying metallic exchange - it used to be that money supply was regulated by the central bank owning both gold and silver. After that date it was just gold - so the central bank dumped silver, and had to buy gold. That occurred just after the Civil War - the U.S. economy was bouncing back, and needed a lot of liquidity that the gold standard couldn’t provide. So there was deflation - prices fell 1.5% per annum for about 25 years. That’s captured by the Wizard of Oz - in the movie they complicate things because Dorothy wears ruby slippers. In the book it’s silver slippers - buying metallic is the silver slippers. The yellow brick road is the gold standard - the idea was to follow the yellow brick road. The monetary discipline of the gold standard was diluted by Dorothy’s slippers - of course the wicked witches were the banks, with deflation banks are not terribly popular because it’s very hard to pay back your loan. The scarecrow is the farmer - we’ve got falling agricultural prices, and he is about to lose his farm. The tin man is I guess the proletariat - with the high interest rates you’ve got factories closing down, being shuttered. Every time he swings his axe he’d chop part of his body off - that’s not terribly nice. Lastly there’s the lion with no courage - in 1896 and in 1900 there were U.S. presidential elections where the Democrats fought a campaign for easy money. They failed remarkably - so the toothless lion represents the politician with no power. It’s quite intriguing - the book was published just after the depression of the period I mentioned. The movie was released in 1939 - after the 1930s depression. I fear if they were to have a remake of the movie today it would be a touch more Faustian - you would have an apprentice printer called Bernanke who would toil away all night printing dollar bills under the instruction of a wizard called Greenspan only to discover that those dollar bills lose their value in relation to God’s assets such as gold and oil. LINDSAY WILLIAMS: The Oz of course is gold’s asset value in terms of ounces? HUGH HENDRY: That’s right - the Kingdom of Oz is the ounces of gold and silver. Remember the Kingdom of Oz was disbanded by the wizard called Nixon - President Nixon in 1971 abolished the right of foreigners to redeem the U.S. dollars into gold at $35 an ounce, so the Kingdom of Oz died in 1971. Now I can really annoy my wife by bringing this into the Whiz of Oz when we next sit down with baby Or for the standard history see - http://en.wikipedia.org/wiki/The_Wonderful_Wizard_of_Oz What next, will you be telling me that Little Red Riding Hood was a communist? I've checked apparently not Link to comment Share on other sites More sharing options...
wren Posted October 30, 2008 Report Share Posted October 30, 2008 I wonder how many of you Gold Bugs know this: The tale of THE WHIZZARD OF OZ is actually the story of the gold standard - whow! Nursery Rhymes will never be the same again - and I have a little one (20 months) In the books Dorothy wears silver shoes, and walks the yellow (gold) brick road. For some reason they changed them to ruby shoes in the film. The Emerald City (= green) probably represents paper money. I think the phrase "the man behind the curtain" (= bankster) comes from that story too. Link to comment Share on other sites More sharing options...
frizzers Posted October 30, 2008 Report Share Posted October 30, 2008 They changed them to ruby because of new technology called technicolour. See this thread http://www.greenenergyinvestors.com/index....+silver+dorothy Link to comment Share on other sites More sharing options...
enrieb Posted October 30, 2008 Report Share Posted October 30, 2008 What next, will you be telling me that Little Red Riding Hood was a communist? I've checked apparently not It was Smufs who were the communists. http://en.wikipedia.org/wiki/The_Smurfs The Smurfs' community generally takes the form of a cooperative, sharing and kind environment based on the principle that each Smurf has something he or she is good at, and thus contributes it to Smurf society as he or she can. In return, each Smurf appears to be given their necessities of life, from housing and clothes to food. Some have argued that the foundation of Smurf society resembles the basic principles of Communism, although Peyo's son, Thierry Culliford, has stated in an interview that his father "wasn't interested in politics at all" More info here http://www.iamlost.com/features/smurfs/commies.shtml Little Red Riding Hood had no connection with economics and is in some versions used more of a morality tale warning young girls to stay on the path, there is an excellent film called The Company of Wolves (1984) by Neil Jordon, who directed Interview with a Vampire, which explores this theme based on a series of short stories by Angela Carter. Charles Perrault explained the 'moral' at the end so that no doubt is left to his intended meaning: From this story one learns that children, especially young lasses, pretty, courteous and well-bred, do very wrong to listen to strangers, And it is not an unheard thing if the Wolf is thereby provided with his dinner. I say Wolf, for all wolves are not of the same sort; there is one kind with an amenable disposition — neither noisy, nor hateful, nor angry, but tame, obliging and gentle, following the young maids in the streets, even into their homes. Alas! Who does not know that these gentle wolves are of all such creatures the most dangerous! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 30, 2008 Report Share Posted October 30, 2008 For 'anarachist' I read 'pro-libertarian anti-statist' and their arguments usually make more sense... Fiat is statist thieving IMO. Agreed Link to comment Share on other sites More sharing options...
Magpie Posted October 30, 2008 Report Share Posted October 30, 2008 I wonder how many of you Gold Bugs know this: The tale of THE WHIZZARD OF OZ is actually the story of the gold standard - whow! Nursery Rhymes will never be the same again - and I have a little one (20 months) Partially true, but that answer doesn't quite capture the fact that the Wizard of OZ represented the ideas of bimetallism, as a revolt against the return to the pure gold standard - Dororthy's silver shoes were in that respect seen as superior to the gold of the yellow brick road. Farmers and others were outraged by the return to the gold standard, many wanted paper money to return, others wanted at the very least silver to be reinstated in order to go back to inflationary conditions rather than the deflationary ones that had been imposed by the return to the gold standard. Google "bimetallism". Link to comment Share on other sites More sharing options...
Bobsta Posted October 30, 2008 Report Share Posted October 30, 2008 Interesting yellow-brick-road diversion ... but back to Gold. On one hand I'm feeling quite impressed with myself for feeling that the rally wouldn't last and we'd be back at sub-$740 levels soon - and being right. On the other, with rates cut and Bernanke talking of further cuts, I don't see why there was such a persistent sell-off today, so am quite unimpressed with myself for "not getting it". I've had a heavy week - someone explain it to me please. Link to comment Share on other sites More sharing options...
azazel Posted October 30, 2008 Report Share Posted October 30, 2008 So, do we think that we are near the bottom? Good buying time to add to my stash? What do you think Ker? Link to comment Share on other sites More sharing options...
warpig Posted October 30, 2008 Report Share Posted October 30, 2008 What until 10th Nov, which is after the next 3 CDS auctions. So, do we think that we are near the bottom? Good buying time to add to my stash? What do you think Ker? Link to comment Share on other sites More sharing options...
azazel Posted October 30, 2008 Report Share Posted October 30, 2008 anyone else having trouble with BV charts tonight? Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 30, 2008 Author Report Share Posted October 30, 2008 Gold crap cheap. Result: Dubai out of gold! Didn't someone on here write the other day that people were eager to sell below spot in the East? I'd say that was a false alarm. http://www.bahraintribune.com/ArticleDetai...mp;CategoryId=2 Dubai runs out of gold Dubai A massive rush at jewellery shops has led to a shortage of gold at some outlets, prompting some shopkeepers to overcharge customers, reports Gulf News. Jewellers are seeing a huge rush of buyers as gold prices are currently at a two-year low. Shopkeepers said the rush, a combined result of the Hindu festival of Diwali and lower prices has resulted in a shortage of gold bars. But they denied any hoarding by outlets. "There is enough gold available in the market and sales are at their peak over the last couple of days with the market falling drastically," jewellers said across the emirate. A buyer who asked not to be named said: "The price of gold prompted me to visit the Gold Souq in Sharjah. However, most retailers claimed they were sold out. Outlets where gold was available were openly overcharging. They said it was in short supply. The price of 24 carat stood at Dh88.75 but they were openly charging Dh92.50. This is clearly an unfair practice." Shubash Golati, a buyer, said: "It is a tradition to buy gold during the four-day Indian festival of Diwali. I bought 22 carat jewellery worth Dh5,000. I wanted to buy a 100 gramme gold bar but was told that it is out of stock." HR Bafna, financial controller from Siroya Jewellers, said a physical shortage of gold is happening worldwide. He said: "It is matter of physical delivery. It might take a day or two to replenish the stocks. But I am sure that there is no hoarding by jewellers because the market rate has dropped. This has resulted in a tremendous rush of buyers and so the gold bars are out of stock." In reply to buyers’ complaints that gold outlets are cashing in on the limited stocks and buyer rush, Bafna said: "There is a possibility, but I can’t confirm this." A counter salesman at the Joy Alukkas outlet in Bur Dubai said for the last couple of days there have been no fluctuations in gold prices. He said: "From a customer’s point of view this is an excellent time to buy." He too denied any hoarding taking place. "If the demand for gold is high it is but obvious that some stocks will run out. Some retailers take advantage of this." Last update on: 29-10-2008 Link to comment Share on other sites More sharing options...
nicejim Posted October 30, 2008 Report Share Posted October 30, 2008 You have got to read this. From the HPC news ticker. 3 men with gold confuse sheriff's sale They say bidders' paper cash is 'illegitimate.' By Matt Assad | Of The Morning Call October 29, 2008 http://www.mcall.com/news/local/all-b1_3go...0,1837218.story From the comments section: Let`s see our money (paper and coin) is backed by gold so I`d say they have a valid complaint. I was relieved that someone actually posted Article 1 Section 10 of the constitution but there are people commenting who have a vote on the future of the world next week and, for example, think that these guys should be shot next time they try it. Our future is decided by people who are stupid and proud of it. I rather haul around a wad of bills than try to lug around bricks of gold. Oh to have enough gold to "lug"! Link to comment Share on other sites More sharing options...
nicejim Posted October 30, 2008 Report Share Posted October 30, 2008 Gold crap cheap. Result: Dubai out of gold! Didn't someone on here write the other day that people were eager to sell below spot in the East? I'd say that was a false alarm. http://www.bahraintribune.com/ArticleDetai...mp;CategoryId=2 Firefox tells me This web site at www.bahraintribune.com has been reported as an attack site and has been blocked based on your security preferences. Does someone not want us to know? Link to comment Share on other sites More sharing options...
nicejim Posted October 30, 2008 Report Share Posted October 30, 2008 anyone else having trouble with BV charts tonight? Not steep enough for you? Working for me. Link to comment Share on other sites More sharing options...
G0ldfinger Posted October 30, 2008 Author Report Share Posted October 30, 2008 Firefox tells me Does someone not want us to know? I ignored the warning, and no Russian girls in Greek positions showed up. Link to comment Share on other sites More sharing options...
Gatesy Posted October 30, 2008 Report Share Posted October 30, 2008 Interesting that they are referred to as anarchists when the basis of their claim is (presumably) the constitution itself. I believe a case was highlighted in that Zeitgeist film about someone who successfully argued in court, and won, that paper money was not real and therefore her debts were null and void (or something like that...) Link to comment Share on other sites More sharing options...
bdon Posted October 30, 2008 Report Share Posted October 30, 2008 DR BUBB - pay your hosting bills! ffs. the last thing I want to see on this forum is a russian twat pop up. you have precisely three days to fix this Link to comment Share on other sites More sharing options...
Gatesy Posted October 30, 2008 Report Share Posted October 30, 2008 on a more long term perspective http://www.kitco.com/ind/Turk/turk_oct272008.html ok so he has a vested interest - but so has Buffett Superb piece. Very concise and a point clearly made. It is incredible to think what will (could) happen to POG shoul dthe DOW nominally stay up... Link to comment Share on other sites More sharing options...
Catflap Posted October 30, 2008 Report Share Posted October 30, 2008 Upcoming Gold Default http://www.financialsense.com/fsu/editoria.../2008/1030.html Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 31, 2008 Report Share Posted October 31, 2008 I've just posted this re currency debasement, but I think goldbugs will enjoy this read. The debasement of world currency: it is inflation, but not as we know it by Peter Warburton April 9, 2001 http://www.gold-eagle.com/gold_digest_01/w...rton041801.html To answer one common question: Central banks are engaged in a desperate battle on two fronts What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur. On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities or anything else that might be deemed an indicator of inherent value. Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the US dollar, but of all fiat currencies. Equally, their actions seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets. No conspiracy. No theory. Just plain cold hard sound reasoning. That's why they don't want gold to rise. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 31, 2008 Report Share Posted October 31, 2008 DR BUBB - pay your hosting bills! ffs. the last thing I want to see on this forum is a russian twat pop up. you have precisely three days to fix this Do you want me to delete your account ? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 31, 2008 Report Share Posted October 31, 2008 So, do we think that we are near the bottom? Good buying time to add to my stash? What do you think Ker? The problem in trying to answer that question is not knowing what fiat currency you want to swap for gold. With the fiats jumping up and down like jack in the boxes, and gold being relatively stable, a lot of the answer IMO rides on the forex market. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 31, 2008 Report Share Posted October 31, 2008 Good researched data about the silver premium: Premiums Paid for 100 Ounce Silver Bars by: Michael Zielinski October 30, 2008 http://seekingalpha.com/article/102885-pre...ars?source=feed If only he'd done it last year. I hope he repeats it. The premium paid for a 100 ounce silver bar has ranged from 39.62% to 56.45%. The premium represents the amount paid in excess of the so-called “market price” of silver. People are clearly paying astounding premiums to acquire physical silver. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted October 31, 2008 Report Share Posted October 31, 2008 Comex Gold and Silver Markets Hurtling Towards Default Commodities / Market Manipulation Oct 30, 2008 - 02:06 PM By: Jim_Willie_CB http://www.marketoracle.co.uk/Article7059.html The COMEX gold & silver markets are each hurtling down a dangerous path toward default. The artificial paper price has created enormous physical demand, and hampered supply production, if not delivery. The gap between the JPMorgan-led corrupted phony paper price and the legitimate physical price in actual trading markets has grown sharply, enough to force a breakdown like in any distorted market. When December contracts in gold & silver are demanded to be satisfied via delivery of the metal, it will be clear that the COMEX is running a scam. A default is highly likely. Of course, they can continue to deny contract holders the right to benefit from delivery, as they have been doing for months to ‘Non-Economic Customers' but soon the ‘Commercial Customers' will be defrauded. Arrests are warranted. We will see how this corruption unfolds. The US Fed cut the official interest rate again by 50 basis points, now to 1.0% on the Fed Funds target, in utter desperation. Other central banks did not join in rate cut exercises. The Euro Central Bank is expected to cut next week, reluctantly. So is the beleaguered Bank of England. The pressure is building on gold demand. Now with the official US price inflation at CPI = 5% or so, the real rate of money cost is minus 4%. The actual price inflation runs more like 10% to 12%, making the real cost of money more like minus 9% to minus 11%. GOLD RESPONDS TO NEGATIVE REAL RATES VERY FAVORABLY. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now