the "electronic money" issue is the scariest of them all.
i think it's one reason the new $100 bills are still at the treasury (or at Fed Reserve Banks..i don't know). The counterfeiting issue is real, but the new $100 bills are for here.
when there is a beginning of real loss of faith, folks will want their salaries, wages, pay, pensions, even benefits in "cold hard cash", rather than an electronic press of a button. a HUGE reason why most US currency in $100 bills is overseas and not here.
banks used to get anywhere from 500k to over 1million every Friday where i grew up in (SF bay area) when J6P would visit his bank to actually go inside, now he goes to the ATM at his liquor store
great blog...the analogy re real estate is so true. and the reason we are in the trap we are in.
<< <i>Good read and I think I may have my head on straight!
He lost me on the rare coin market though, as I see and others I respect see, better return potential on bullion.
Unless you are speaking VERY high prices for VERY moneyed folks. But that is not the game I see David speaking about.
Miles >>
I quite agree with your reply, was a good read...expressed in non-radical wording...but he lost me at the rare coin part. Seemed obtrusive and sort of a sales pitch thrown in at the end to go buy coins.
fivecents
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Worry is the interest you pay on a debt you may not owe.
He lost me on the rare coin market though, as I see and others I respect see, better return potential on bullion.
Unless you are speaking VERY high prices for VERY moneyed folks. But that is not the game I see David speaking about.
Miles
i think it's one reason the new $100 bills are still at the treasury (or at Fed Reserve Banks..i don't know). The counterfeiting issue is real, but the new $100 bills are for here.
when there is a beginning of real loss of faith, folks will want their salaries, wages, pay, pensions, even benefits in "cold hard cash", rather than an electronic press of a button.
a HUGE reason why most US currency in $100 bills is overseas and not here.
banks used to get anywhere from 500k to over 1million every Friday where i grew up in (SF bay area) when J6P would visit his bank to actually go inside, now he goes to the ATM at his liquor store
great blog...the analogy re real estate is so true. and the reason we are in the trap we are in.
<< <i>Good read and I think I may have my head on straight!
He lost me on the rare coin market though, as I see and others I respect see, better return potential on bullion.
Unless you are speaking VERY high prices for VERY moneyed folks. But that is not the game I see David speaking about.
Miles >>
I quite agree with your reply, was a good read...expressed in non-radical wording...but he lost me at the rare coin part. Seemed obtrusive and sort of a sales pitch thrown in at the end to go buy coins.