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US Dollar
ksammut
Posts: 1,071 ✭✭✭
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.
My Numismatics with Kenny eBay Store Over 6000 listings and growing with more than 39,000 items sold
My Numismatics with Kenny Twitter Page Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
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Comments
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner
<< <i>Don't you suppose an article by a gold seller may contain just a bit of bias? Kind of like asking a life insurance salesman if you have enough coverage.
lol. so true. rare to find a voice of reason on this forum.
just look at the sentences the author puts in bold to incite fear and
anxiousness in the readers.
<< <i>Don't you suppose an article by a gold seller may contain just a bit of bias? Kind of like asking a life insurance salesman if you have enough coverage.
And where do you suggest that we'd find an unbiased and honest article?
He posted the link and the source, you can read it and interpret it and accept or reject it how ever you'd like. And feel free to post links to other articles that you may find interested or feel are more valid or accurate.
"Ask, and it shall be given you; seek, and ye shall find; knock, and it shall be opened unto you." -Luke 11:9
"Hear, O Israel: The LORD our God is one LORD: And thou shalt love the LORD thy God with all thine heart, and with all thy soul, and with all thy might." -Deut. 6:4-5
"For the LORD is our judge, the LORD is our lawgiver, the LORD is our king; He will save us." -Isaiah 33:22
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
roadrunner,
I agree with you regarding JW which is why I posted the link. Time will tell.
My Numismatics with Kenny eBay Store Over 6000 listings and growing with more than 39,000 items sold
My Numismatics with Kenny Twitter Page Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
It really has nothing to do with the dollar and government debt, or corruption in government, side deals with advertising firms owned by Obama's Chief of Staff, $4,000,000,000 in federal handouts to the thugs at Acorn, or Fannie May bigwigs who walk off with a cool $80,000,000 for running a taxpayer funded housing agency into the ground. Nothing like that. They should just pay their damn taxes and shut up. You know, pay their taxes.........like Geithner, Sebalius, Rangle, and that douchebag from South Dakota, Daschle.
Full Faith And Credit. Yeah, the dollar is SOLID. I'm thinking of going long the greenback, margined to the hilt.
The numbers just keep getting bigger, don't they?
Ok, I thought about it. NOT!
I knew it would happen.
& going
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
I'm no Wall Street shill, but the guy is a gold bug! There seems to be a theme in this thread, if not this whole side of the board, that if you don't hoard you are un-American, look how readily the patriotism theme comes up here. If you don't have a very negative outlook about our future as a nation then you are a dupe. God forbid any of your apocalyptic scenarios come true. All your gold and silver won't be worth squat and there will be nothing to buy with it. Those of you with the arsenals hidden away may get to spend a little extra time killing each other off but that will be about it. Keep some gold and silver if you wish, I hold mining stocks albeit it is less than 5% of my portfolio, but lets not wish for the unimaginable.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow.
<< <i>
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
I'm no Wall Street shill, but the guy is a gold bug! There seems to be a theme in this thread, if not this whole side of the board, that if you don't hoard you are un-American, look how readily the patriotism theme comes up here. If you don't have a very negative outlook about our future as a nation then you are a dupe. God forbid any of your apocalyptic scenarios come true. All your gold and silver won't be worth squat and there will be nothing to buy with it. Those of you with the arsenals hidden away may get to spend a little extra time killing each other off but that will be about it. Keep some gold and silver if you wish, I hold mining stocks albeit it is less than 5% of my portfolio, but lets not wish for the unimaginable.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow. >>
yellowkid... you will not get very far in this forum with that attitude.
this place beats down every opinion like yours and they really do not
want to hear it.
I posted the below in a stock forum for a Silver mining company as a similar discussion was taking place. I respect your opinions and none of us truly knows the future but it is best to be prepared for any potential outcome.
I believe my below post is germaine to this discussion:
The United States has done many wonderful things in its young history. Unfortunately, when it comes to managing money, we have failed.
We are bankrupt. The only thing that is keeping us afloat is the fact that the government can print money and keep us all in denial.
Health care reform is important but needs to be done in steps. The first step is to reduce costs and create competition amongst insurers. Forget about Universal Health care for now. We are not in a position to be able to afford it.
In addition to our increasing deficit and National Debt, Social Security, Medicare, and Medicaid have present and future liabilities of $50,000,000,000,000. Yes, 50 trillion dollars. Socialized programs do help people but eventually fail due to lack of money. They are ponzi schemes. Not in the sense that any government is trying to cheat its people but because expenses go up and over time less people to pay for the programs, they collapse.
Because of the field that I am in, I speak to Physicians from all over the world almost on a daily basis. In countries where there is Universal Health Care, it is diluted health care. Yes, the care is less expensive but the amount of care that can be given is greatly reduced. Long waiting lists to see physicians and surgeons. Long wait times for basic x-ray and labs. Long wait time for surgery (both minor and major). Americans want their health care now. "What do you mean the doctor cannot see me until next week. I want an appointment today."
To pay for the Universal Health Care, citizens in countries that offer it, are paying taxes in excess of 70% In addition, they do not have some of the tax benefits (cannot deduct home mortgage interest as an example).
So you pay with higher taxes and get less health care. I hope that is not what some of you are asking for. We as Americans contribute to higher health care costs. The obesity rate in our country is alarming and with obesity comes many costly health issues. Visit other countries, and you will not see so many over-weight people.
Until we bring costs down, there is no way to insure another 45 million people.
In the next year, the US government will be forced to raise taxes. Not just on the rich or middle class but on many of the 40% of people who are not paying any Federal tax at all. There is no other way to bring down the deficit. I can go off on a tangent and discuss how the raising of taxes will kill any recovery but I wont. The medicine we take now will be bitter and cause pain but we have no choice.
Social Security, Medicare, and Medicaid will also have to be tackled. Those liabilities and the solvency of these programs will have to be taken care of. Reduced benefits and probably higher taxes will only delay the inevitable.
I appreciate those of you who want to help others in need but the hidden honest truth is that many who are not in need now will be soon. Before you say I am Mr. doom and gloom, take a minute to look at our national debt, look at the deficit, look at how medicare and medicaid are not only bankrupt but so deeply in debt. Look at Social Security and how close it is to not being able to continue as it is right now.
Health Reform is needed to lower costs-not to add more. Then tackle every other program to reduce costs and begin paying off the liabilities. Tax everyone to pay down debt - not just the rich and middle class. Understand that we will not have the same life style while all this is happening but the slate has to be cleaned otherwise, we will collapse as a nation and with us, the rest of the world.
60 years of poor management is coming to a head. Good intentions like all intentions have consequences. The unexpected consequences are what we are paying for now. If you do not believe me, you are not wanting to believe. I am a proud flag waving American with middle class roots but I began to open my eyes in the past year or so and have realized we made some big mistakes as a country and now its time to pay up for our sake and that of our children and grandchildren.
Lastly, protect yourself and family. Do own some PMs and mining shares.
My Numismatics with Kenny eBay Store Over 6000 listings and growing with more than 39,000 items sold
My Numismatics with Kenny Twitter Page Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
<< <i>
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
I'm no Wall Street shill, but the guy is a gold bug! There seems to be a theme in this thread, if not this whole side of the board, that if you don't hoard you are un-American, look how readily the patriotism theme comes up here. If you don't have a very negative outlook about our future as a nation then you are a dupe. God forbid any of your apocalyptic scenarios come true. All your gold and silver won't be worth squat and there will be nothing to buy with it. Those of you with the arsenals hidden away may get to spend a little extra time killing each other off but that will be about it. Keep some gold and silver if you wish, I hold mining stocks albeit it is less than 5% of my portfolio, but lets not wish for the unimaginable.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow. >>
You are right, the truth usually lies somewhere in the middle. I have invested in stocks and mutual funds for many years and have done well until the blowup from last year but at least I've recovered over 60% of what I lost on paper and now I'm sitting at 75% cash waiting for the next shoe to drop.
I've never shorted a thing in my life but am tempted to short long term U.S. treasuries which I see as the next bubble to pop and the S&P when it gets up around 10,000 which seems a foregone conclusion, the rest of my money I will redeplot into select equites if there is a sizeable sell off.
Anyone who tells you to invest most of your money into precious metals is a little off their rocker just like anyone telling you to pour most of your money into tech stocks, real estate, treasuries or cd's is off their rocker, the key is to diversify your holdings and be ready to pounce when opportuntiy presents itself.
PS The asset allocation I describe is not a growth allotment, more geared for a retired (ahem) person interested in maintaining assets while allowing for a bit of growth.
<< <i>Why bother making anything less than 5% of any portfolio. >>
The above was intended to be an answer to your question.
<< <i>Nothing to see here... just go back to sleep you sheeple... your goverment has everything under control >>
Fred, Las Vegas, NV
<< <i>
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
I'm no Wall Street shill, but the guy is a gold bug! There seems to be a theme in this thread, if not this whole side of the board, that if you don't hoard you are un-American, look how readily the patriotism theme comes up here. If you don't have a very negative outlook about our future as a nation then you are a dupe. God forbid any of your apocalyptic scenarios come true. All your gold and silver won't be worth squat and there will be nothing to buy with it. Those of you with the arsenals hidden away may get to spend a little extra time killing each other off but that will be about it. Keep some gold and silver if you wish, I hold mining stocks albeit it is less than 5% of my portfolio, but lets not wish for the unimaginable.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow. >>
Yellow Kid, you have to admit that even the middle of this story is pretty sad!
Fred, Las Vegas, NV
<< <i>
<< <i>
<< <i>Maybe you can post a dollar article from Pimpco or a Wall Street bank to get the other view.
The author of that dollar article does not sell gold. He does however sell his newsletter. Fwiw he's one of the sharper minds in the areas of PM's, stocks and bonds, currency trading, the economy, money flows, etc. JW has been right a lot more than anyone from the banks, FED, Treasury, etc. I'd listen to him long before any of the fiat and paper pimps out there.
roadrunner >>
I'm no Wall Street shill, but the guy is a gold bug! There seems to be a theme in this thread, if not this whole side of the board, that if you don't hoard you are un-American, look how readily the patriotism theme comes up here. If you don't have a very negative outlook about our future as a nation then you are a dupe. God forbid any of your apocalyptic scenarios come true. All your gold and silver won't be worth squat and there will be nothing to buy with it. Those of you with the arsenals hidden away may get to spend a little extra time killing each other off but that will be about it. Keep some gold and silver if you wish, I hold mining stocks albeit it is less than 5% of my portfolio, but lets not wish for the unimaginable.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow. >>
You are right, the truth usually lies somewhere in the middle. I have invested in stocks and mutual funds for many years and have done well until the blowup from last year but at least I've recovered over 60% of what I lost on paper and now I'm sitting at 75% cash waiting for the next shoe to drop.
I've never shorted a thing in my life but am tempted to short long term U.S. treasuries which I see as the next bubble to pop and the S&P when it gets up around 10,000 which seems a foregone conclusion, the rest of my money I will redeplot into select equites if there is a sizeable sell off.
Anyone who tells you to invest most of your money into precious metals is a little off their rocker just like anyone telling you to pour most of your money into tech stocks, real estate, treasuries or cd's is off their rocker, the key is to diversify your holdings and be ready to pounce when opportuntiy presents itself. >>
Fred, Las Vegas, NV
<< <i>Don't you suppose an article by a gold seller may contain just a bit of bias? Kind of like asking a life insurance salesman if you have enough coverage.
Actually Jim Willie is one of the more respected (and very accurate) on-line economists and this is just one of many sites that showcase his writings.
Keep an open mind, or get financially repressed -Zoltan Pozsar
If the FED's primary job is price controls/stabilization, then they have massively failed at their primary mission. The only question is where did the other 95c cents of those dollars disappear to? If you can answer that then you know why we still have a FED. It only took the FED 5 yrs following their creation to double the price of goods and deflate the value of the dollar....all the while on what was supposed to be a gold standard.
Jim Willie talks about gold from time to time. He spends more of his analysis towards currencies and bonds since they tend to drive gold's behavior. If anything he's an anti-paper bug these days and looks to hard assets to hedge his bets. If the definition of gold-bug is someone who owns gold, then count me in. You also will have to include President Bush, VP Cheney, Alan Greenspan, JPMorgan, Goldman Sachs, many or most members of the Senate Financial Services committee, etc., All of them gold bugs.
And who do I listen too? Who's articles succinctly sum it up for me, gives me the clear view of what is coming down the road? Forty odd years of reading about money and economics has shown me one thing, read the articles from the left, then read the articles from the right, and the truth will be somewhere in the middle. No one knows which way the wind will blow.
I listen to who makes sense of the circumstances surrounding us. We've only been on a pure fiat standard for 38 years. Our economy and financial system is still playing out the end-game of making that fateful decision back in August 1971 (as well as major gold-related events in 1913, 1933-34, 1944, and 1999).
Here's who I listened to back in 2002 and the person who got me on to my personal gold standard. There's nothing rabid about Sinclair's tone or methods. He merely stated facts 7 yrs ago that what was coming was inevitable. His basic game plan has played out to a tee. He knew which way the wind was blowing and made it very clear to understand why and to believe it. Few others said the same thing. Do you keep listening to the guy that brought you to the party or do you believe the FED and company who have called it wrong at EVERY step? Do you follow the "wind" of the guy who got it 80-90% right or those that got it 0% right? Tough choice.
Sinclair interview from July 2002
Let's not forget that our investing mentalities of today are based on a 40 yr fiat experiment with deregulation and crony/lobbyism. In that environment one would expect paper assets to proliferate and prosper, which they did. Does the past 27 years of a money servicing economy where we simply exported our inflation to Asia via an unchallenged reserve currency give us any hint as to what the next 27 years will bring? Will stocks and bonds be as successfull over the next 10 or more years as they were from 1982-2008? Do 20 year bull markets in the dollar and treasuries continue to go up forever with no major shakeouts or corrections? The FED can either support the T-Bond or the USDollar, they cannot keep both afloat.
roadrunner
...and at the moment, they are issuing both like crazy...
I knew it would happen.
Droke gives a refresher on the effect 6 and 10 yr cycles have been having. In his analysis it explains the SM strength this year as it did in previous decades where the 10 yr cycle was peaking (2009) and the 6 year cycle was coming off a bottom (2008). While Droke expects a correction in the SM soon, he also expects the 4th qtr to end strong. When it comes to charting business cycles and being contrarian, this guy is usually very accurate on the bigger picture. If the SM continues to hang in there the rest of the year, one should expect the dollar not to.
Droke has mentioned in the past that when the 6 year cycle peaks again in 2011, there is nothing but air underneath the stock market from 2011-2014 as all the cycles (3, 6, 10, 12, 20, 60, 120) commence bottoming together for the first time since 1894. Ouch! But for now, the goal is to get through 2010-2011 unscathed.
roadrunner
<< <i>There is no doubt that we have a host of economic woes to deal with. It has caused me to change my retirement asset allocation to include a large cash component from the old 50/50 mix of stocks and bonds. I just can't put all, or a large portion of my assets, where they aren't working for me. And certainly, if I was a young man , I wouldn't be bothering with metals other than as an entertaining aside. Classic gold coins though, are another matter!
Yeah I can't quite shake collecting southern branch mint gold coins and have a fair amount of them although I've liqidated the expensive ones.
I also have way more cash than usual but right now I'm nervous and not sure what to expect, typically September and October are the two worst months for the stock market but I'm not even sure if stocks will suffer a major selloff maybe they'll keep marching up to 12,000 by next spring. All I know is as the dow approaches 10,000 and the S&P approaches 1,100 I don't want to be 100% invested, especially with Jim Cramer telling everyone to buy.