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A government of the people, by the people, for the people and why Gold should be $18 an ounce.
MGLICKER
Posts: 7,995 ✭✭✭
A significant minority on this forum have forgotten the immortal words of Abe Lincoln in the Gettysburg address.
Startling is the fact that more than a few believe that those in office are across the board wiser than they are on matters of finance, defense, medicine, entitlements, education and a number of other categories.
I have heard the retort from more than a few here that a lousy coin seller could not be wiser than a Ben Bernanke or his boss the eminent community organizer. Maybe not, but that does not diminish our right to opine, particularly when the oligarchs are performing in a manner that is reckless at best and corrupt at worst.
One thing is certain, each and every elected representative earned a majority of votes from their local constituents. One can debate the electoral college but the executive office holder won at the least the majority of the electoral votes.
Now let me get to the $18 Gold.
Washington DC is a reflection of who we are as a nation. No more, no less. One can not blame poor decision making on anyone other than those who cast a vote for the candidate or perhaps even more so, those that neglected to cast a ballot.
Somehow, some way we managed to create a $10 face gold coin in 1795. Production gaps aside, we survived numerous wars, Depressions natural disasters and sunken ships with the $10 Gold coin intact.
Well at least until 1933, when our duly elected leadership decided that this piece, along with all of the other gold coins were incompatible whith a free spending, sloth rewarding New Deal society.
138 years of maintaining the integrity of our monetary system went out the window in a flash. In the 81 years since this debacle, our $10 paper currency went from paying for a weeks stay at a grand hotel, to buying a soggy supermarket entrée and a Coke.
In the aggregate, it has been our choice and no one else's to debase the currency. Inflation never went much above 10% a year in that time. Worrisome certainly, but still manageable. None in this country have experienced the hyper inflation of South America or several banana republics which believe that every economic solution can be easily solved with a printing press.
The US fed's QE action and the EU's announcement today have created a mind numbing supply of unbacked digital notes that have done little to stimulate real growth, but have sown the seeds of a dangerous economic outcome.
But hey, gas is under $2. Great. I filled up the car yesterday but don't let that lull you into a false sense of disinflation. Not going to happen with $5,000,000,000,000 sloshing around.
Startling is the fact that more than a few believe that those in office are across the board wiser than they are on matters of finance, defense, medicine, entitlements, education and a number of other categories.
I have heard the retort from more than a few here that a lousy coin seller could not be wiser than a Ben Bernanke or his boss the eminent community organizer. Maybe not, but that does not diminish our right to opine, particularly when the oligarchs are performing in a manner that is reckless at best and corrupt at worst.
One thing is certain, each and every elected representative earned a majority of votes from their local constituents. One can debate the electoral college but the executive office holder won at the least the majority of the electoral votes.
Now let me get to the $18 Gold.
Washington DC is a reflection of who we are as a nation. No more, no less. One can not blame poor decision making on anyone other than those who cast a vote for the candidate or perhaps even more so, those that neglected to cast a ballot.
Somehow, some way we managed to create a $10 face gold coin in 1795. Production gaps aside, we survived numerous wars, Depressions natural disasters and sunken ships with the $10 Gold coin intact.
Well at least until 1933, when our duly elected leadership decided that this piece, along with all of the other gold coins were incompatible whith a free spending, sloth rewarding New Deal society.
138 years of maintaining the integrity of our monetary system went out the window in a flash. In the 81 years since this debacle, our $10 paper currency went from paying for a weeks stay at a grand hotel, to buying a soggy supermarket entrée and a Coke.
In the aggregate, it has been our choice and no one else's to debase the currency. Inflation never went much above 10% a year in that time. Worrisome certainly, but still manageable. None in this country have experienced the hyper inflation of South America or several banana republics which believe that every economic solution can be easily solved with a printing press.
The US fed's QE action and the EU's announcement today have created a mind numbing supply of unbacked digital notes that have done little to stimulate real growth, but have sown the seeds of a dangerous economic outcome.
But hey, gas is under $2. Great. I filled up the car yesterday but don't let that lull you into a false sense of disinflation. Not going to happen with $5,000,000,000,000 sloshing around.
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Comments
I think I have ready almost every thread on this forum since it was establish about 7 years ago and I dont recall ever reading anything like that. I have read hundreds of comments regarding "them" coming to get "us" though.
This might be a good paper for you to read this week....http://www.nber.org/chapters/c2486.pdf A good little read on incomes and working conditions in America in the early to mid 1800's. Also details the income disparity among regions--a familiar topic. Talks a little about slave and child labor---ah, the gold old days.
our $10 paper currency went from paying for a weeks stay at a grand hotel, to buying a soggy supermarket entrée and a Coke
The average salary was about $1-2 per week. So someone would have to work 1-2+ months to afford that grand hotel. Your ability to combine 2 completely unrelated topics and abort the context is beyond comprehension. Although I do try.
Knowledge is the enemy of fear
Because of this...
A significant MAJORITY on this forum have NOT forgotten the immortal words of Abe Lincoln in the Gettysburg address
Knowledge is the enemy of fear
<< <i>You should go out and see a movie or something. >>
A book .
Wow
MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
see a movie !!!
Voter fraud is alive and well, regardless of the popular attempts to suppress the truth
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
<< <i>drunk or stupid or both? >>
Chug-a-lug, chug-a-lug
Make you want to holler hi-de-ho
Burns your tummy, don'tcha know?
Chug-a-lug, chug-a-lug
<< <i>I saw American Sniper last weekend, good stuff. >>
Agreed! Awesome movie!
The tribe has spoken!
It's beer : 30.
Got quoins?
Keep an open mind, or get financially repressed -Zoltan Pozsar
<< <i>Well at least until 1933, when our duly elected leadership decided that this piece, along with all of the other gold coins were incompatible whith a free spending, sloth rewarding New Deal society. >>
Certainly a momentous contributor to our economic charade.....Cheers, RickO
Keep an open mind, or get financially repressed -Zoltan Pozsar