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vox kadavergehorsamkeit
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has posted a comment on the article :
Trust Your Instincts on Gold
- Dennis Miller -
Casey Research
The author suffers from the same myopia that seems to affect everyone in the gold community. The statement was made that: "Throughout history thousands of currencies have collapsed, but precious metals hold their value." Firstly, many of those thousands of collapsed currencies were based on precious metals. It has NEVER been about what the currency is. It has ALWAYS been about how that currency was managed. Secondly, it is not true that precious metals hold their value. They usually do, but the U.S. was forced to demonetize silver when vast new supplies were discovered, driving the price down. The Spanish also managed to collapse the value of gold when they brought it back from the new world by the boat load. With the waters of the oceans containing 3 billion tons of gold (significantly dwarfing the 170,000 tons mined throughout history) who is to say with absolute certainty that the value of gold will not plummet?
As for the question raised concerning hyperinflation and the possibility of it happening in America just as it did in Yugoslavia ("Can this happen in the United States? Are we immune from the natural laws of economics?) the short answer is NO, it cannot happen in the States, at least not yet. The reason why it cannot happen is because America has a functioning bond market. No nation with a functioning bond market has ever experienced hyperinflation. Not a single one. If there really is such a thing as natural laws of economics, that would be the first law.
As an aside to the author, my advice would be to stop paying any attention to your unnamed presenter (doubtlessly Paul Mladjenovic). As the old saying goes, he doesn't know shit from Shinola.
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I recall a terrifying experience years ago. It was my last flight of the year, and I was headed home for Christmas. The plane was speeding down the runway to take off, when the pilot suddenly reversed thrust and slammed on the brakes; the plane shook like I have never experienced before as the pilot aborted the takeoff. As we stopped mere feet from the end of the runway and caught our breath, the pilot came on the intercom and announced, "I'm sorry to frighten you, ladies and gentlemen. I have been flying for many years. There was nothing on our instrument panel that says we have any kind of problem. It just did not feel right, and I want to have some things checked out before we go vaulting into the air."...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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