Whew. You gotta get up PRETTY EARLY in the morning to be the first comment on this blog.

Good Morning Al and company,
Watch the video link at the bottom
I stated in the past that you will never get responsible government because private citizens are out number by government employees and their pension will be and is the DESTRUCTION OF AMERICA as well as defense spending and all other ridiculous social spending. Therefore at the voting booth there will NEVER be a responsible candidate (Ron Paul) voting in and if there is one voted in he will have one hell a battle to make the changes needed while avoiding getting assassinated.
I do not even know how you can buy any real estate in the USA at any price added to that living in a police state.
Lastly what good is having gold and silver and the capability to buy food when people around you are starving. Your life will be in danger as well because you will be a target. How can you rationally believe that having a gun will save you. Maybe temporally at the beginning. But when news gets out you have food and gold you will be the biggest target on the block.
My suggestion is come to Canada where it is safer. This is advise as good as buying gold and silver I believe.
Lord Bless and help us all. Joseph

Government Employees: The True 1%

http://www.youtube.com/watch?v=3iD-X-jpzXQ&feature=youtu.be

Al, RE: 3-5: Rog is mostly correct.
IMO houses are hard assets, but they are depreciating assets, be sure to keep that in mind. As he stated watch out for fees and taxes.
Al comments regarding “inexpensive” is relative to prices that were NOT REAL but bubble inflated prices. Saying 50 cents on the dollar is a wrong analagy.
Ray is getting at the crux, saying that expensive homes are “starting to capitulate.”
Both are correct regarding financing.
IMO, Look for prices to fall to 1997-1998 prices before we are finished falling.
Real estate investments are for rental and commercial properties only where one has CASH FLOW.
Buyers beware!

Howdy Al
Joeseph has a point that is an issue, only positive I can figure is at least the money is givin to people and they will spend it being a good thing for the economy.
Its money not going to goldman saks,jp morgan etc.
In canada we have recently become aware our government is corrupt with the vote manipulation,we (the world) now knows the reason Gordon Brown sold british gold was to protect Goldman saks short position on gold at the time. We all should by now know exactly what the american government is.
Be careful what you put in print, facist governments have been known to go back a decade once they are solidified to “root out” disenters.
Some people are saying gold shares are undervalued, Are they? Nobody wants them.
Maybe the free market IS working. Who can blame anyone for not wanting to buy any shares in anything? mf global, short selling/rumour combo and the entire system ready to collapse.
Last week I was making the point about owning shares over physical metal,even with a surge in share prices after tax the better thing is physical and obviously no counterparty risk which is HUGE today.
I have tried to get people to buy physical with the argument that jesus taught “get rid of the moneychangers” Follow the teaching. nope
Now I try remove the metal from the market,guys like Mr. Sprott agree.
The most interesting thing to me in these interviews was when Al was talking to a gentlman when silver was $37. No offence Al but totaly unaware of the take down about to occur. The market is corrupt. This is scaring alot of people away,ask ms. Bernhart (sp).
I have what could be looked at as an “out of the box” idea.
I believe Ron Paul is our best hope.
I hope that when the day comes the republicans decide who will rum for pesedent, Mr Paul needs to say, “I run as the candadate or I run independent”
If they dont it would gaurentee a republican loss.
If Alex Jones is to be belived when he says that he drives for miles and can find no other bumper sticker or sign that is not Ron Paul then Ron Paul has a chance to win as an independent.
Romny, Gingrich and Santorum are white obama clones and we all know that.
Therefore I say Ron Go For It.
It might be akin to a hail mary pass but if he doesnt win the presedency, I hounustly
Hate to think how much they gonna turn the heat up on us boiling frogs.
Thanks for putting up with my ramble.
Thanks again Al and Rog for everything you guys do.

Big Al,
I think I can comment on San Diego. I have lived here over 45 years, and have years of real estate experience here . I live in a beautiful area and emphatically, yes, the market has dropped significantly – even in the most desirable areas, i.e. like the coastal communities. My attorney friend, just sold his family home as trustee. I am tellin you guys this thing is a beautiful home, older, BUT sits right over the Pacific Beach/Pt Loma area with a view on the hill that most in the world would “die” for. He could have thrown a rock and hit homes occupied by the late owner of McDonalds (beautiful lady, BTW), etc. Top of the market – 2005 approx. 5 million, just sold it last year at 1.8 million!!!! True story….my family home – right down the hill….has dropped 25 to 30% That is only because the home is significantly “cheaper” that the one previously mentioned – many more potential buyers in this market. Bottom line – highly desirable – stuff has too dropped significantly. Just years ago all these RE pros said there is no way this would happen! Does that sound familiar to all our “paper asset friends out there. THE PICKINS ARE GOOD FOR ‘THINGS” REAL ESTATE, MINING COMPANIES AND ALL HARD ASSETS – GO GET WHILE THE GETTIN IS GOOD!
All the very best,
Marc

Hi Big Midas Al,
Buy low and sell high. Isn’t that the way we learned? Around 52 week lows and wait for a breakout, on something good, then buy. Another really good weekend show. Big Al, you do have the Midas touch.

I have another thing about people not wanting thus the $ cost going down.
Look at Silver corp. In production producing 10s of millions of oz gold/silver, huge amounts of cash, extending resorces and paying dividends, less than 200 mil shares. $7. Why on earth would people even be looking at companies still exploring with prices around $5? The reason I believe is silvercorp got hit with statments that short sellers started and made millions. Now there doesnt seem to be enough money in the market to get the share price up to their peers. There are others out there like this but my point is,Are we not at fair value for somthing when no one wants somthing?
Same could be for real estate, if no one has the money to buy it whats it worth?
Anyway, thanks for the show Al

Also silvercorp is predicting a 20% increase for 2012 i believe.
Little story, a friend of mine had a windfall of 33k a couple years ago. I recommended to him to preserve his wealth immediatly by taking 200k and buying physical gold. He decided to bank it and figure out what he was going to do. Taking the high price that month to now its worth 280k. He lost 80k purchasing power. As most here know the value of gold hasnt changed since the time of nebechonezer (sp).
My point,I do not recomend shares, now is the time to preserve wealth and thats physical. The market is corrupt. The only reason im in it is after the 08 crash I multiplyied maybe 10 times, removed maybe triple my original investment and have been removing any wins ive hit ever sicne. I operate on “market funds” I cannot lose.
Im just trying to stay in the game should this “blast off” ever occur. But to anyone I know I recommend physical and tell them they are gambling big time if they think they could do what I have done. Im not kidding myself, I got lucky by getting in just after that 08 crash. It was almost impossible not to pick winners for about a year, think I was running maybe 95% winners last year think I hit 3. oh well. GLTA.
Thanks again for putting up with me Al.

Gotta correct myself. That friend windfall was 300k. I recommended 2/3 physical 1/3 cash. After 08 my recommendation was 1/3 shares,1/3 physical 1/3 cash. I did not recomend silver as I knew he couldnt handle volitility even tho I knew it was better and actually would have paid him 150k. Now I recommend 75% physical and 25% cash.
An argument could be made for more physical but Im not an advisor Im only talking about if a friend were to ask me. And who really knows maybe gold itself will tank bigtime should we get the next crash that people are talking about that is supposed to be 100 times worse than 08.

A house may be a hard asset but it is certainly not money.
A key element of money is portability.
Although in rare circumstances you can move a house…..think of the scene from
“Deliverance” when the town was about to be flooded so the solution was to at great expense move the Church on a flat bed truck. (Think about the symbolism of that for a second)
http://www.youtube.com/watch?v=bc5PzujncII&feature=related
Although you could possibly move a house it is not portable. If you go out on a limb and buy a mobile home to solve this problem then have good luck storing value with that highly depreciating asset.
Another element of money is divisibility. Good old Abe summed up the house divisibility problem quite well when he famously said “A house divided against itself cannot stand.” Divisibility is important in an inflationary environment from a liquidity stand point. ‘Pieces of eight’ was formed a singular whole. Although you could syndicate a property like a race horse and disperse fractional ownership. This is only practical in dispersing the rent value/proceeds of the house. It would not be practical to hold a small share of the use of a house. Also relying on the dispersing of paper in a culture that just went through a severe paper inflation has challenges. Does anyone want a time share?
The Assignat was paper money back by the seized Papal Lands in France. This real property backed money worked so well they used the guillotine predominantly to coerce the medium of exchange’s use.
In a famous banking case John Marshall wrote “The power to tax is the power to destroy.” Unfortunately there are a plethora of instances where people supposedly own a house free and clear but are paying significantly more property taxes on the real estate then they once paid when the home was mortgaged. Do you really own real estate? Or do we just rent them from government? Think about this next time a school levy is voted on. Then ask yourself why are the voting machines in the high school right next to the teacher’s lounge and the levy always pass on the off year elections.
Finally, another aspect of housing is in a monetary inflation not all assets will experience price inflation consistently across the board. Assets that rely more heavily on debt for transfer can be expected to experience less demand in certain scenarios. Certain sub-classes of a general class may outperform the general class. Farmland may outperform residential and commercial real estate or example.
Existing starter homes on a percentage basis are on average outperforming hastily thrown up McMansions (with the possible exception of DC).
To the extent housing does appreciate it will be relative to other assets classes outperforming especially when factoring in all expenses.
You may feel great that your $500,000 house appreciated to $1,000,000 but does that appreciation increase your wealth in an environment in which a gallon of milk went from $3 to selling for $10.
Going forward people will be more likely to own homes they need rather than the homes they want. Own a practical home and to the extent you “house up” take a portion of your housing cost out of the the discretionary budget.

SEG. 4…COMMENT OF REAL ESTATE….$800,000 to 2 mill, capitulation….
Yes real estate is capituating…..but, is it a” good investment, today”,
Real estate while looking like a great investment, my not be infact
true….I have always learned in real estate , it takes two people ,
to establish value…..A SELLER , AND A BUYER…..AND THAT TO
ESTABLISH VALUE , A MEETING OF THE MINDS MUST OCCUR….

First…..There were never enought” millionaires”BUYERS.. to live in all
these over priced properties built..(you can check out the no. of millionairs in2002)

Secondly…..To realistically qualify for a loan on a million dollar property.THE BUYER should never borrow more than .2 times their income, This is what you can afford….as a burden for repayment and pay for other things required in life….the past qualification rule,bare this out..
So, how many people are making $500,000 a year….? Not that many….
2x time incomeof$ 500,000 year equal = $1,000,000 value of property…
This caused the glut or over priced million dollar houses……lack of millionairs
(supply and demand is working here)

Thirdly….ROADBLOCK….financing….yes , the financing is a problem and will continue to be a problem….BANK DO NOT HAVE THE MONEY TO LEND…LIQUIDITY ?(is not that our fed.reserve’s problem)and if the next potential buyer can not get a loan, how do
you sell, your fantastic marked down real estate…
Problem now and in the future…

Fourthly….SELLING YOUR PURCHASE IN THE FUTURE FOR A PROFIT….. at sometime , in the future, you will want to sell
or your family will need to sell,,, and then …Who , do you sell the property to…?
Since, the next Batch of people(buyers) are GEN. X OR Y,which in size , number of
people (4o million)BUYERS, is less, than the number of potential baby boomer(7o million)SELLERS. SELLERS OUT NUMBER THE BUYERS,(supple and demand) which do not have any money,or jobs…which means income , which means payment , which means some kind of real estate value…which means qualification….and do not have incomes of$500,000
ARE THE NUMBER OF”MILLIONAIRE” BUYERS,, MORE OR LESS IN GEN X AND Y,
I think LESS…
Conclusion…WHO ARE YOU GOING TO” SELL” ALL THIS OVERVALUED REAL ESTATE TO…
that you are buying at this fantastic discount now, you need to discount it further, for the next buyer….? I think so….(supply and demand again),when you have more
sellers than buyers…that means reduction in price….

FIFTHLY…..Million dollar … real estate is going to decline in value….and as Roger said,
real estate is in the tank…for at least 15 years….(I GIVE ROGER CREDIT HERE
BECAUSE HE WAS A REAL ESTATE DEVEL.)

SIXTHLY….. BY THE TIME, gen x or y,
become ” millionairs”,( it will be equal to minimum wage…)
inflation will have taken hold….problem a million buck won’t buy the same amount.

SEVENTHLY…..SO, on the bright side , buy the million dollar house, you will get the money back
in 15 years…wait….did I pay one million dollars,,,no, figure the intrest you pay,back
that will be two million…(rule of 72)…. now , you have a capital loss, great, write it
off….you will not be paying income taxes….great carry forward….one problem
you lost one million dollars…..great investiment…
I think I can do without……OR you buy….at a discount of 50%, then you might have
a great deal….but, you still must figure carrying charges REAL ESTATE TAXES,
LIGHTS, MAINT. REPLACEMENT OF WEAR AND TEAR ITEMS, COLOR AND DECORATION
CHANGES…(which change every year, things do not stay the same)ARCHITECTUAL CHANGES, ENERGY CHANGES..SELLING CHARGE OF 7%

CONCLUSION..
easy to sign for…hard to get rid of……INVESTMENT OR MONEY TRAP….

Lastly….Diversification,,,yes, you do need a place for shelter,,,and sometimes you might be able to sell it , when you need the money for your nursing home payment..
Remember, no one can tell, when the next opportunity will be, or what that
investment might be….but, logic might be a clue…and everyone has different
ideas…and no two people are alike…..

Good show Al…

If you can rent cheaper than buying…why buy into a falling market?…the sign that things are turning around will come when the listing to sales ratio starts to shrink in any given location and price level that you are considering…it’s the ol’ supply and demand equation…when you start to see the foreclosures dry up on the market and disappear…that is another signal to wait for…until then…if it makes better sense to rent than buy until things start to turn around…keep your powder dry in gold and silver…in my humble opinion.

By the way:

Check out the Andrew Maguire interview on KWN…he says the PAGE (Pan Asian Gold Exchange) has been cancelled…but there is another exhcange coming that will start out with Silver…the contracts will be issued against actual physical bars with serial numbers issued…number of contracts aresupposed to be matched exactly…no excess paper issued…his other comments on what happened in this last take down, are good also.

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/3/2_Andrew_Maguire.html

Marc, thanks for saying. If you couldnt tell Im kinda passionate about this stuff. I really see whats going on as a crime to pensioners and the theft of our young peoples future. But the info is out there if they will just look for it. I remember the conclusion of a gentlman that wrote a piece about the faciasts of the 30s and 40s. The conclusion was that they got away with it all because people refuse to think. Same as the capatilists, refuse to think. Herbert o yardly broke the japanese code in the 30s. Sent to china by the american gov. he wrote a poker book about it with just a mention about breaking the code. The book is “the education of a poker player”
Thats proof the americans knew the japanese attack was coming.
Anyway,about people not listening is true. I recommended to 2 investers that had combined 250k in a company that had/has no prmits. I suggested First Majestic at about $4.50 a share. All said and done they could have made over 1 million. When I mentioned it to them they said “we dont think that way” OK I gave up.
People REFUSE to think. They are leary of physical, but I did get maybe a dozen people buying silver but some have lost heart from volitility.
Anyway, I think the best we can do is protect ourselves and hopefully we are in a position to help others should the need arise.
Personally I will continue with the argument to remove the silver from the market.
I tried for years with christians to follow the teachings,I have 2 nefews that are pastors. But thats a forlon hope so I gave up on that too. I even phoned in to the televised christen shows and not a chance will they think I actually had better luck with the sihks,hindus,budists and moslems Im in contact with(not much tho). Anyway your right people dont listen.

Marc Faber: US ‘Financial Mess’ Will Force Government to Take Your Gold
Economist Marc Faber, publisher of the Gloom, Boom and Doom report, says the government will seize privately held gold, even as he continues to buy physical gold himself.

“I prefer to play the commodity space by owning physical gold,” Faber tells Chiefsworld. “If I were an American, I would store it outside the U.S., because in the U.S., it is not completely unlikely that they will eventually take it away.”

“Like in 1933, gold will be purchased back by the government” because eventually the financial mess will be so bad that gold prices “will go ballistic, and the government will take away something from a minority, and not many people own gold.”

This story was posted on the moneynews.com
The other side of a position, who can be sure of anything?

does anyone have an opinion of investing in houses to rent in places like richland wa. , or joplin missourri ??? love to all S

Al,
You’re a Catholic and you don’t think the government forcing Catholic hospitals to pay for abortions is important??????? Murdering the unborn is damn important!!!!! May God have mercy on you for saying something like that!!!!!!

Mr. Korelin.

It seems the idea of cuts to entitlements is wavering, and it should. I wish everyone would focus on the fact that since the US went totally off the gold standard, all debt instruments issued by the government to get to use every dollar it spends is an odieus debt (In international law, odious debt is a legal theory that holds that the national debt incurred by a regime for purposes that do not serve the best interests of the nation, should not be enforceable – wikipedia).

The money is created out of thin air, why should we be bound to pay interest on it, let alone the fact that is comes into existence out of the authority granted to the government. All the austerity talk is diversion, the problem is the process of currency issuance. Austrian economics is not a solution, it is the last stronghold of the elite.

Truth shall make us free. Franklin knew that.

A Modest Enquiry into the Nature and Necessity of a Paper-Currency by Benjamin Franklin (1729)

The coinage laws in place still call for that I believe. But if they won`t go after Corzine,…

Keep Stacking. If I had the power and authority to create it myself legally and force acceptance for payment of all public and private debt, as any sovereign country does, I would have no need for a credit card.

Selah!

And just to demonstrate this knowledge was known by a lot of Americans:

The information came to the knowledge of the English Bankers, and held their attention. They immediately took the necessary steps to have the British Parliament to pass a law that prohibited the Colonies from using their scrip money, and then ordered them to use only the gold and silver money that was provided in sufficient quantity by the English bankers. Then began in America the plague of debt-money, which has never since brought so many curses to the American people.

http://www.planetization.org/prosperity.htm

Lincoln saved the union, and paid for it.

The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity. -Abraham Lincoln

Did you know that documents recently revealed the secessionists were actually financed by London Bankers?

http://american_almanac.tripod.com/lincoln3.htm

This country will always be the prize international financiers fancy. And if we don`t wake up soon, the noble experiment of self-government will end live on TV with the elite sipping cocktails and hi-fiving each other over their success.

The U.S. has a reputation as being at least a (formerly) low tax jurisdiction which is no longer true if it was even in the past 20 years.

Doesn’t “social security” withdraw roughly 12% of American’s “before tax” income prior to being subject to income tax?

in a nation with a 35-40% corporate tax rate, …and what room is left (on the personal level) also has to cover the individual choice (for now) of personal health insurance which costs? $ 250-300/mth for a healthy working adult?

…I would only be guessing as a Canadian, but there are surely better ways to have a fair, pro-growth, comprehensive tax code than one which is roughly 67000 (up from roughly 44000 in 2000) pages rife with what I assume are subsidies, exceptions, deductions, credits and cronyism.

If Americans who are having their homes foreclosed on were allowed to keep the equity they have in their homes upon liquidation, then there would be fewer homeless Americans living in tent cities… ie. an American who has 100k equity in a home worth 200k, then the banks should be reimbursing that individual for the 100k equity upon sale…this would drastically reduce the fire-sale on homes and encourage banks to either sell homes at fair value, work out deals with the home-mortgage owners based upon their circumstances, or write down the debt…as well as reducing the incurring dependency on public social and economic programs.

That’s roughly how it works in Canada from my understanding, regarding home equity foreclosure.

..I welcome anyone to correct any errors I may have made based on my current information.

Every financial instrument’s value is derived from a commodity.
The commodity the source of the value….what eventually is sought to be owned and/or controlled by the instrument has to exist and must be desired for the instrument to have any value. Think of a bank note being redeemable for gold.
The bank note …..consisting of paper and ink…..is not what is desired to be possessed it is what it is redeemable for that is sought after……the gold. Consider a coat check at a restaurant…..you check your coat and are handed a claim check….after your dinner you present the claim check only to find out the restaurant has delivered your coat to another customer…the claim check has no value except evidence of the fraud you are now a victim of….the claim check cannot provide you wooly warmth from the cold elements the restaurant sends you out into after you loudly complain foul. What is my point…..my point is like the bible starts “In the beginning” all banks must source their wealth from commodities. Commodities are the things we want because we need them to live. The paper banks exchange only represent claims on what the bank customers truly want. The mastery of the banks is that they have Madison Avenued most….conditioned the masses to believe it was a bank note or claim check they covet. We have come a long way from Humphrey Bogart in 1948’s “The Treasure of the Sierra Madre.” Watch the first few minutes http://www.myspace.com/video/humphrey-bo… (or the whole thing it is a great flick). In the first scene notice how director John Huston focuses on the silver coin. Note how many goods and services Bogart is allowed to purchase with just one unit of a true commodity medium of exchange. It is as if John Huston was telling/warning us. Note in the movie how manly men did manly things to endeavor to find then mine gold. They found victory but were ultimately unsuccessful. For something to have significant value it must be scarce….difficult to find and/or produce.

Value is not price. The value of a bank note is not found in the denomination. The value of a bank note is what it commands delivery of. And when with nominal effort we produce too many bank notes which in turn chase too few goods the bank notes will necessarily command very little.

Think of a poker game in which you exchange currency for chips. As you play a hand an armed robber breaks into your parlor and steals away with the cash box. You sit at the table and all realize the chips are now redeemable for nothing.

Today we live in a poker game where our chips are redeemable for nothing….except for some very odd reason we continue to play.

@Keep Stacking – In financial terms, that is called a loan. I`ll grant you the CC companies and banks have the power to create money as long as they can find someone to pick the other side of the transaction, a debt instrument carrying fees and-or interest. That is of course part of the problem. See “money as debt” if my comments aren`t clear to you.

@Dennis O’Neil – Money is like any other commodity with an supply and demand relationship.

Question: If all US taxing agencies demanded payment in gold or silver, how much demand would there be for Federal Reserve Notes?

I would suggest the answer to be: no demand whatsoever. Hence the root of all demand for Federal Reserve Notes is the requirement to pay taxes with such vehicule.

Out of nothing, demande is created. No wonder they think they`re gods…

The Coyote, Cow and little Bird.

One time a little baby bird who lived in a nest high up in a tree was happy and content his parents would always take care of him. One night in the latest of summer when his parents were off searching for food but were unable to get back before dark, it was very cold. The little bird got colder and colder all night and was worried sick his parents would not return. Just before dawn when it was freezing the little bird fell out of his nest and onto the ground. Little bird was shaken but not hurt, sat up and realized how cold it was so he began to chirp over and over again.

Not far away a cow heard the little birds cries and so walked over the the little bird to investigate. The cow looked down at the cold little bird and saw how distressed the bird was. The cow turned around, lifted its tail and let go a big hot steaming pile of dung right onto the little bird and then walked away.

The little bird stuck his head up out of the dung and realized how much warmer he was, but then realized the terrible smell and so again began to chirp, chirp chirp complaining about the dung.

Not far away a Coyote heard the chirping and so ran over to investigate what it was. Upon finding the little bird in the cow dung chirping and chirping, he reached down to pull the poor little bird out the the dung. The little bird thought how wonderful I am saved, but once the coyote had lifted the little bird all the way up he opened his mouth wide and swallowed the little bird down in one gulp.

The creatures and animals in the area pondered what had happened. Some believed that when a person is neck deep in shit, it is better to keep their mouth shut. But the real moral is, while some people who throw shit on you are only trying to help, others who pull you out of shit only want to hurt you.

The above is an old Cowboy proverb, a moral to remind people that when someone extends help it might not be appreciated, and when expected help arrives it might be disastrous. This is the situation a majority of people are in throughout the world, Greece, US, France, Italy and so many places. Governments and Banks who appear to be extending a paw to pull people out of very stinky situation may only be doing so to steal their gold and resources.

There are many examples, but it is always better to keep ones mouth shut at all times and only open it when absolutely necessary. In my lifetime I know one thing to be true but still I have to regretfully learn over and over again, and that is I rarely get into trouble for not saying something, but often find trouble for something I did say.

CLAY……….LOVED IT………..Wont say anything else in case i drop my self in the dung.

P.S. To all you lovely people, i enjoyed all your words. GOOD HEALTH TO YOU ALL.

Interesting piece over at King World News…FITZWILSON. In my opinion mankind will be in the shit, until the day we learn from history.

Anyone seen “money as debt” or “The money Master” around here?

@Dennis O’Neil – You asked “why is it the way it is now”, These movies will show you why and how. And it seems to me that Nathan Rothchild was not the first person to realize the power of controlling the vehicule required to pay taxes. Even Jesus got hold of the idea and eventually beat the money changers with a wip. Note that this event is followed by the first mention of plotting to kill him.

Give me control of a nation’s money and I care not who makes her laws. – Mayer Amschel Rothschild

@miss.
Yes ive seen the money masters. excellent work on bill schills part. I mentioned to al he would be a good guest, Al said he would see what he could do. I have recommended that to many people. I find that young people are interested.

Mr. Al.

You say: “Of course Austrian economics is sound! It is the only system that will work indefinitely.”

That would be nice. However, no matter what system is in place, when cronies take control and can prevent the guilty of criminal acts from even being prosecuted, the system matters not (Corzine…)

BTW, just like Keynisian economics, Austrian economics is theory. It has never demonstrated its propositions to be law.

Raw Materials Economics demonstrates it laws with over 100 years of historical data. Now, do you know of any proposed system that supports its laws with 100 years of data?

Y`all have a great week.

NIce commentary on the pm takedown on mineweb…..

http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=146665&sn=Detail&pid=1020

THANKS TEX.

Notes:
in general, residential real estate is a consumption item, not an investment.

Once a bubble is pricked, it takes a long time for prices to take off.
So there are probably better places to invest then residential real estate.

My two cents.

GET YOUR RED HOT (125%) LOANS HERE:

http://usawatchdog.com/subprime-to-the-rescue/

@Matthew – “…how the criminal acts of someone like Corzine have anything to do with the monetary system directly…” You miss the point. Jefferson said it best, hope that strikes a cord with you:

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. – Thomas Jefferson – 3rd president of US (1743 – 1826)

To sum it up, corruption of the highest degree, where the highest law of the land does not matter anymore, and crimes and injustices go unpunished. Corzine being only a symptom. Bailouts are ONLY possible when cronies have taken control.

The takeover of education, media etc. is also only a symptom.

“Yet you refuse to see that this is one of the most important reasons for gold….”

Where did I say anything that would make think “I refuse”? At some point through this learning process, I realized that it is not the medium used as currency that is important, but rather who controls it. And I believe people would agree that central banks control most of the gold, otherwise, how could they manipulate its price, as evidenced by the GATA group.

“Can you spell out what it is that you find unsound about the Austrian School?”

1 – At its core, it proposes gold for money. Since that is controled by the elite, we`re still out of luck.
2 – Human activity would disapear were it not for our raw material production. I therefore propose to value all raw material production, not just gold digging.
3 – Austrian economics ignores the effect of population growth. Demography is, in my opinion, the root from which all forecasts, absent crony capitalism, find there credibility. What happens when gold discoveries do not equal in percentage the growth in population, are we just going to stop trading? The last hundred years of population may be the main reason governments went off the gold standards.

Anyway, you sound fairly irritated by my positions. I obviously have nothing to gain from this. My goal here is to share what I find in the hope that people will realize that liberty and individuality can only strive in a just society. If a minority controls the money supply, we shall gradually see those reduced and eventually, they will be gone.

@Jerry O^OTB – I`m sure you`ve heard this before:

“Early to bed, early to rise, makes a man healthy, wealthy and wise.” – Benjamin Franklin

“Your wish for the eradication of corruption is a utopian delusion.”

I`m not fool hearted enough to believe corruption will ever be eradicate. We certainly have to stand watch to keep it to a minimum.

“But you must remember, my fellow-citizens, that eternal vigilance by the people is the price of liberty, and that you must pay the price if you wish to secure the blessing. It behooves you, therefore, to be watchful in your States as well as in the Federal Government.” — Andrew Jackson, Farewell Address, March 4, 1837 – who killed the second central bank of the US

Indian women do not control governments and military forces.

To find out who owns the most gold in the world, we referred to data from the International Monetary Fund’s International Financial Statistics Report.

http://www.wealthdaily.com/articles/who-owns-worlds-gold/2491

“Most people need a leash for their own protection. ”

So much for liberty and the pursuit of happiness. I believe governments need a leash, not the people.

“ In questions of power, let no more be heard of confidence in man, but bind him down from mischief by the chains of the Constitution.” Thomas Jefferson

“Hopefully those who are new to the subject won’t be similarly led astray.”

Wow, should I start worshipping at your feet, sounds like you are truth, light and life. Tell you what, get crucified and resurrected three days later and start going through walls and I may consider it. Until then, I hope you`ll realize a lot of us are simply disciplined learners.

Humbly yours from Texas

World Gold Council’s Managing Director for Investment, Marcus Grubb, says: “Of all the gold, about 166,000 tonnes, Indian jewelry is estimated to be about 18,000 tonnes.” The U.S. has 8,133 tons.

“Indian women do not control governments and military forces.” -What does this have to do with anything?

“My goal here is to share what I find in the hope that people will realize that liberty and individuality can only strive in a just society.” = Utopian

“So much for liberty and the pursuit of happiness.” -Don’t know what a metaphor is?

@Matthew – “…how the criminal acts of someone like Corzine have anything to do with the monetary system directly…” You miss the point.” — I’m still waiting for you to make the point I’ve supposedly missed.

In all your posts from the 18th to today, you still have not made a coherent case for your unsound money. That is my focus, yet you are all over the map pointing to quotes I agree with, and even a few accurate facts. But you still haven’t said: “Fraudulent, worthless, centrally controlled money is better because…”

Are you a collectivist or not? Try taking the test:
http://www.freedomforceinternational.org/freedom.cfm?fuseaction=creed

Still hoping others aren’t similarly lead astray.

Matthew – Collectivist? Me? All over the map? Me?

“In all your posts from the 18th to today, you still have not made a coherent case for your unsound money.”

Kind of hard to stir anyone when they`ve obviously painted themselves in a corner. Austrian Economics in the right corner, unsound money in one of the other three corners, we just don`t know which one.

The fraud is to charge interest on the medium assigned by governments to pay taxes, No one should have to pay interests or fees, directly or indirectly, on top of paying taxes.

Ho, and buy the way, do you get that consumerisme also stems from this fraudulent approach to “economics”?

Anyway, I’ll go back to my garden and pray for decend rain this summer, life still requires to put food on the table.

MATTHEW………MISSIVEDUTEXAS. That was an interesting debate between you two, i enjoyed reading it, i even learned from it. This is what people need to do, TALK, & learn from each other, & be tolerant to the other persons point of view. Good health to you both.

“centrally controlled paper money is a MUCH bigger threat”. What do you think we have now? And where do you think the controllers want to push this. The Euro is even more centralized than the dollar, now imposing austerity on very diverse cultures and nations for derivatives commitment created out of thin air. Centralized or not, would it not be better to have a currency issued free of a debt instrument?

As far as centralization, I agree with you. the more de-centralized and divided the powers of government are, the better. National defense (not foreign adventures) should be de-centralized, communications should be decentralized, basically anything the 10 planks of the communist manifesto wants centralized should be under the responsibility of the state or county, with clear rules and penalties to prevent abuses.

Did you know currencies appeared at county levels during the depression?

Because of the banks closing temporarily and the lack of physical currency, someone had to come up with another form of currency to keep the economy going and a way for trade to continue.

http://www.depressionscrip.com/

I understand that not agreeing with you that gold or silver should be money gets you irritated. I also understand that it is very difficult to let go of inculcated doctrines and ideologies. The facts usually help in this fashion. Did you know the constitution does NOT impose gold and silver on the Federal government, only the states?

Here, read it for yourself:

Article. I – section 10 – No State shall …coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts…

What you call “all over the map”, I call having a wide spectrum of knowledge points that are important to consider and ponder. I`m a proponent of the 4 R`s approach to knowledge acquisition: Research, Reasoning, Relating and Recording. The more efforts put in the first step, the more is gained in the last three. Can you guess how much time I put in the first step?

And by the way, I`m sure the foundings fathers were called utopians during the decades preceding independance. However, once the people got enough of the abuses of the British Crown, it mattered not that their ideas were ridiculed in the beginning.

“The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War.” – Benjamin Franklin’s autobiography

@irishtony – I`m glad you enjoy the exchange.

@Jerry O^OTB – Good morning to you sir. May the sun find you well and ready to conquer another day:)

MISSIVEDUTEXAS….GOOD MORNING TO YOU …..
Yes, the sun has found me here in sunny Florida….I have picked the last oranges off
the trees, which means a new season…
I was up late last nite, listening to James Sinclair, on his report of the “state we find
ourselves in”…everyone that is not a trillionaire (the new rulers of yours, mine , and
everyone elses..) I will not go any further …..I believe the discussion has been
well covered. SO GOOD MORNING AMERICAN..AND ALL WORLD LISTENERS..THAT
WOULD INCLUDE YOU …Irish…

On this site I have found pretty consistently the best comment threads I have ever read on the net, and this is an example. It is a new form of communication, and this site brings it to the highest level!

Can we all agree that whatever we believe the world ought to look like, that we have a lot of calamity and upheaval to survive between here and there? and that no outcome which we may desire is assured…that we will have involve ourselves? and that we must protect our families and ourselves, then join the fray?

As I like to say, the order of the day is to squeeze as much “cabbage through the keyhole” as possible…and the Constitution of the US is the most important paper asset in our portfolios!

@Matthew – “The founders new that paper is incompatible with liberty.” I hope you make that comment out of deep research. So far, I didn`t find any definite position on this on the part of the founders, except for Franklin`s “A Modest Enquiry into the Nature and Necessity of Paper Currency”, which goes past your concerns about the average joe out there and attempts to stir the reflexion to a more complexe view. His successes in his own state with paper money is not to be discounted, I would also propose that he would disagree with you as far as paper money being “the tool of tyrants”.

And I guess Lincoln would also disagree:

““The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” – Abraham Lincoln

And I guess prior to him, Jackson would concede little, but at least this:

“If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.” – Andrew Jackson

“You obviously do not understand the constitution!” – You know, you may be right. There was a time I thought I did, but after seeing what is currently law under the commerce clause, I confess to being baffled. It looks to me like the world is turned on its head.

“…you STILL have not made a compelling or RATIONAL argument for your fake money…” My guess is no argument will ever convince you as long as you keep calling it “fake” money. From my perspective, if using to pay the man his taxes makes him happy, it is REAL money. Again, the medium matters note to me, but who controls it.

“You’ve displayed a shallow understanding of basic economics.” Really? And what would make you draw this conclusion? Did I talk about aggregate demand, prices being sticky downward, inflation, M1, M2, M3, money velocity, increase in the money supply, productivity, interest rates… Please, enlighten me as to where my knowledge would make you conclude nothing profond can be discuss with me in these matters.

“Your “solution” addresses the problem of paying unnecessary interest, but nothing else.” The first part is correct, the second is not. The other problem it addresses is control over the money supply, which would go back to the people`s representatives, where it “properly belongs”.

“the government would just use it as an excuse to spend more.” Well, that`s nothing new. How does a 1.5 trillion dollars yearly deficit, 16 trillions to foreign entities and some unlimited exposure to derivatives sound to you? That`s why “the price of liberty is eternal vigilance”.

“A collective approach to the solution can’t work without the awareness of each individual within the collective.” I agree. And so did the founding fathers. Again, Franklin saying to the lady “A republic, if you can keep it.”

“The problem with ignorant people can be found in their twisted logic pertaining to cause and effect, and their self-serving view of what constitutes fairness. Sound like an opportunity for you to go out there and raise educate the masses.

“You do not respect free markets. No one should control the money.” I find your accusations-conclusions quite funny, considering they cannot be supported by much. I respect the markets as much as it deserves, so much so that . I guess you walk around thinking “gold is money”, “gold is money”, “gold is money”. However, no matter how many times you repeat this mantra, money will remain what the government requires by law for the payment of taxes.

“Commodity (real) money, protects liberty.” Ho my, buy a gun of you want to protect liberty. Real money will attract covetous people in your neighborhood if loose lips are present amongst your neighbors. Better yet, institute a government with the stated purpose to protect the people’s inalienable rights and you might have liberty for some two hundred years, about the time for the sociopathes to take it over and trample its purpose for vain glory.

“Each holder of real money holds value that laws cannot strip away.” Ya right. Tell that to americans who had their gold confiscated in the ’30s or victims of the multitude of genocides during the 20th century. My tomatoes hold real value too,

“your utopian belief that the people’s representatives would somehow sudenly become trustworthy and incorruptible.” You really read all that in my writings? Good for you!!

Let me just say that we probably would not need governements to secure the blessings of liberty if everyone could be trustworthy and incorruptible.

“the funny thing is that the markets have long since spoken. Gold cannot be “demonetized” as people think.” Just a word of advice here. Not that I believe it may happen anytime soon, but once the Fed announces interest rates hikes and the end of QEs, dump your real money. Go look at what happened to real money in the `80s, a lot of people got burned.

You`re right, the market will have its way.

“You obviously don’t know that nominal rates were rising in tandem with the gold price throughout the ’70′s. You obviously also don’t know the difference between real and nominal performance.” – Again, conclusions that cannot be supported by what I wrote… get over the demeaning comments and simply make you point.

“Money must be a store of value, currency is, therefore, not money.”” – Ok, if you want to make that distinction, I can think of a lot of things that can be considered a store of value. Most would not be pratical as a currency.

“If you weren’t all talk…” – Again, let go of the demaining comments, make your point.
l
“So there are limits to your respect for people who want to choose for themselves?” – None are more hopelessly enslaved than those who falsely believe they are free. The market you`re talking about is so skewed and manipulated, one can only conclude our wealth is being corraled for the eventual plunder. The NDAA bill of 2012 is preparation for the plunder, in my opinion.

“Have you asked yourself why central banks own it?” They were selling tones in the `90s. I suspect the purchases were made by the same people who got the Glass-Steagall Act out of the way.

“the value is still there even AFTER you fail to keep it in your possession.” – Much good that does.

“conclusions that cannot be supported by what I wrote” -Really? Then what do the following words from you really mean???
“but once the Fed announces interest rates hikes and the end of QEs, dump your real money”

“Most would not be pratical as a currency.” -So what. Gold IS practical.

“The market you`re talking about is so skewed and manipulated…” –What gave you that idea? I said a free market. There hasn’t been one for a very long time.

“Much good that does.” ??? What? Are you saying that gold should be theft-proof?!
Is the joke on me? Are such idiotic comebacks just intended to annoy?

It is very tiresome trying to explain something to someone so unwilling to stay on point.

Believe it or not, If you made a point that withstood scrutiny and common sense, I would thank you for it and alter my views. I would have no choice, and have had to alter my views in big ways in the past. I might be wrong, but I don’t think your pride would allow you to concede a single point. It also appears that you are drawn to the crackpot, Keynesian-lite views of Bill Still because, due to the limited membership, it makes you feel like you are somehow inside the inner ring; and that you understand something that few others do. A very appealing notion. Also very dangerous.
http://www.lewissociety.org/innerring.php

I really would love to see Paul as the boss of the Fed Reserve because that is the only way we will know what is going on under the hood.

No question that the American media – both right and left – treat Paul at best as the Rodney Dangerfield of politics.

With regard to Ron Paul’s clear straight talk, it was brilliant. And I wish there were more like him in the West.

I would like to meet him. We have a good man Stephen Harper as leader but you know, CANADA CLAIMS that they have 3.4 tonnes of gold.

I do not believe it Or maybe I am wrong but it is most likely at in Kentucky or at the Fed Reserve in NY. Canada will never see it.

I pray that the USA will get out of this and cleanse itself of secret societies that work against the people and be the beacon of justice. Greatest country in the world. If the USA falls, the West will fall 30 minutes later. It is a divine land. When I am in the USA I always feel so.

@James B – Canada – To Matthew: “you are a brillliant and lucid orator to defend gold.” – Personnally, I`ve see and heard much better, and without the invectives and personnal attacks, which for some every debator knows draws attention away from a good argumentation and should be avoided. By the way, Canada is not without its own secret societies and corruption, start there, This fight is global, and every decent human being should ship in to weed out the plagues of sociopaths in positions of power.

Anyway, on to your comments, there, Matthew.

“Gold IS practical.”

Yeah, right. I can`t wait to see the boats floating around with trillions of dollars in gold to pay China`s existing US cash reserves, US bond holders around the world, and pensioners at home. There is not enough gold in this entire solar system to pay the current deficits (federal, state and loca), let alone what is coming, even if you don`t include all the exposure the Fed has signed on to.

“I said a free market. ” – And you accuse ME of being a utopian? Haha, good one.

“Are you saying that gold should be theft-proof?” – No, I`m saying stop holding on to the gold idea as if it`s the silver bullet (or golden bullet, in this case) that will tame your anxiety about whatever. Get involved at the local level at least, keep those poeple honest, get them to issue their own currency to pay local taxes, just don`t call it that. The county could save all that interests if it didn`t have to use the Fed`s funny money.

“If you made a point that withstood scrutiny and common sense.” – Right, like trillions of dollars in gold floating around the world make sense.

“I don’t think your pride would allow you to concede a single point.” Pride has nothing to do with it, at least agree you may need to work harder at communicating your message better. Hint, avoir personnal attacks and invectives.

“It also appears that you are drawn to the crackpot, Keynesian-lite views of Bill Still…” – Tell you what. You get some popcorn and watch “Money as Debt” and then “The money masters” and then, if you still want to discuss crackpots, I`ll oblige.

“…due to the limited membership, it makes you feel like you are somehow inside the inner ring; and that you understand something that few others do….” – Ho yea, avoiding throwing psycho-bable in the direction of someone one has never met or talked also helps keep a debate cordial and the interlocutors credible.

“your feeble understanding of gold” – What was that apology for?

“There is ALWAYS enough gold” – So I`m just supposed to believe you? How doctrinaire of you!!

“ALL raw materials are limited.” I guess we`ll have to define raw materials. I include farm production with this, which is renewable.

“Bill talk of having a built in 2-3% inflation it became difficult to watch.” – Well that`s good news, you at least watch. How does one go from that (these movies are long) to “crackpot, Keynesian-lite views of Bill Still” is not clear to me. Solutions can always be debated. I personally didn`t get that this was set in stone. What I did like was the removal of fractionnal reserve banking as a system and the issuance of currency FREE of a debt instrument.

“Austrians are not for bank controlled gold.” So where is the gold going to come from? Thin air?

You still have not explained to me how the trillions of dollars of debt dumbed on the american people are going to be paid short of declaring most of it odious debt and pushing the re-set button.

“One million dollars was worth 50,000 ounces of gold less than 100 years ago, today, a million dollars is worth about 600 oz.” I`m not debating the fact the currency is debased, I`m debating the need to having loaned to the government in order for it and the people to use it. If you have no need for money and can let it sit in gold for years to maintain its value, fine, go ahead, just to force all the people to pay interest to bankers in order to be able to use it.

Gold would have to be loaned to the government, at interest, if the gold standard was to be re-instated. That is why I call this the last stronghold of the elite.

“With the population exploding, resource scarcity will grow more acute.” – But you just said there is always enough gold, so which is it, enough, or not?

My response is “awaiting moderation” so here it is without the links.

“So I`m just supposed to believe you?” – No, of course not. I’m just stating a simple fact that will stand up to your scrutiny.

“So where is the gold going to come from? Thin air?” -Most of the gold is in private hands. It would be available just as private dollars are available to markets. The rest would come from mining.

“You still have not explained to me…” – What’s to explain? In constant dollars, the debt can’t be repaid. Thanks to Still, you seem to think that it’s important that it does get repaid. Remember, if the borrowers (U.S.) were foolish enough to take on way too much debt, it was only because creditors were foolish enough to provide too much credit. Both should suffer for their miscalculations. A hyperinflationary course puts most of the consequences to the borrower, while a deflationary course puts the consequences to the lender and borrower. Savers would come out on top as they should. It’s interesting to note that in the 1930’s and in 1980, the gold price peaked only after it had risen enough to “back” the debt (debt divided by the market price of the claimed 261,499,000 oz held in reserve). The market naturally discounts available information in seeking balance.

“Gold would have to be loaned to the government, at interest,” – Governments only have what they TAKE or BORROW. They should have to pay interest for the use of others’ capital. BUT no one, like the Fed OR Treasury, should have the extraordinary power and privilege to create capital out of nothing. When this is done, what they are actually doing is transferring capital from it’s legitimate owners, those who produce real goods and services, to themselves. They then use the loot, making big promises to buy votes from the drooling class that doesn’t know or care where the money came from.

“But you just said there is always enough gold, so which is it, enough, or not?” – Gold is not consumed, so it only grows scarce relative to an exploding currency supply, and potentially, if production doesn’t keep up, an exploding population. So there will be enough, but the value must rise. It already has, and it will continue to.

Now, let’s revisit your response to this question: “Are you saying that gold should be theft-proof?” – Your response that began with “No, I`m saying stop holding on to the gold idea…”, is not an answer. You have done this throughout our exchange. You’ve addressed many points without actually addressing them. Another example is: “Gold IS practical.” -To which you said: “Yeah, right. I can`t wait to see the boats floating around with trillions of dollars in gold…” -Here you are arguing for the sake of arguing. Of course gold is practical. It is not scarce, it is limited. This is what you want in money. Why trust to a bunch of unaccountable bureaucrats a task that nature has already conveniently dealt with? It is also fungible, divisible, durable, and doesn’t corrode. A high unit value makes it very easy to transport as well. A dime-sized coin will buy nearly $200 worth of goods.

Ever heard of honest weights and measures? Do you think society would tolerate an ever-changeing foot or meter? How about a gallon, pound, or gram? Society would obviously NOT tolerate it. Unsound, dishonest money is only tolerated because the consequences aren’t widely understood, if even recognized at all.

You should be proud of yourself, by the way, I think you’re the first here to contest another’s compliment and then proceed to attack the writer. What others get out of either of our comments is their business, don’t ya think? I understand your tone if directed at me as it is a response to my tone with you. But to lash out at bystanders is infantile and embarrassing. You invite my “invectiveness.”

You “Greenbackers” are big government left wing “conservatives.” Like all good scams, your leaders use a lot truths to sway the unsuspecting to their fraud.

You should expose yourself to real scholars before falling for a non-scholar. Little is even known about Still. Who financed The Money Masters? Did he? I think he would have mentioned it somewhere if he had.

Great interview with Craig Lindsay about the challenges facing a exploration company and it seems some of the problems they have are also evident in your investment in Premium Exploration. Seems speculation is the only answers investors seem to be getting from their investment in Premium. Thanks Al for the great interview…

“BUT no one, like the Fed OR Treasury, should have the extraordinary power and privilege to create capital out of nothing.” or the Fed or every single bank in the US with that fractionnal reserve system. So am I mistaken in perceiving we might actually agree on the need to see the fractionnal reserve system disappear?

“They then use the loot, making big promises to buy votes from the drooling class that doesn’t know or care where the money came from.” That is why the constitution is in place. WE all share a responsibility to make sure it is followed, even today. Gold cannot do this work, only we can.

“Now, let’s revisit your response to this question: “Are you saying that gold should be theft-proof?” The answer was obviously no, and that is what I said, no. I really thought you could handle more than that, I guess I overestimated your capacity to reason.

“Here you are arguing for the sake of arguing.” That is your point of view, I`ll give you that.

“Why trust to a bunch of unaccountable bureaucrats a task that nature has already conveniently dealt with?” Well, I wouldn`t dare to say trust, but certainly take a look at what they`re doing, and get involved. Sociopaths are always attracted by positions of power. Most americans don`t know that and would rather have the tube entertain them.

“I think you’re the first here to contest another’s compliment and then proceed to attack the writer…But to lash out at bystanders is infantile and embarrassing.” Wow, I guess your exposure to “lashings out” have been mild, I doesn`t even make a beep on my radar. From my perspective, I simply stated that I disagreed with his opinion.

“You invite my “invectiveness.”” – My guess is anybody who doesn`t agree with your gold is peace, prosperity and liberty idea invites you invectiveness.

“You “Greenbackers” are big government left wing “conservatives.” Like all good scams, your leaders use a lot truths to sway the unsuspecting to their fraud. ” There you go again. Did you know that the greenback allowed Lincoln to finance the whole secession war and win it? This continent would have spent the next hundred years in wars just like the European countries, all with the blessings of the bankers of course.

“Who financed The Money Masters? Did he? I think he would have mentioned it somewhere if he had.” I don`t know and don`t really care. The guy pointed out THE big scam in this whole financial system, fractionnal reserve banking, and that is not to be discarded.

“He therefore is the truest friend to the liberty of this country who tries most to promote its virtue, and who, so far as his power and influence extend, will not suffer a man to be chosen into any office of power and trust who is not a wise and virtuous man….” – Samuel Adams

Nha, football is the thing!

“So am I mistaken in perceiving we might actually agree on the need to see the fractionnal reserve system disappear?” – Yes, of course we agree. But that should have been clear at the outset.

“That is why the constitution is in place. WE all share a responsibility to make sure it is followed, even today.” – The Greenbackers stance does not follow the constitution.
(see the provided links above to begin your verification of this)

“Most americans don`t know that and would rather have the tube entertain them.” – Exactly. This is why a bet on the proper actions of the collective is sure to lose. The masses have no clue what their best interests are. Nothing in history suggests that this will ever change, with the possible exception of brief periods. There’s no way around it, gold protects those who own it from the stupidity of the masses. Collective solutions don’t work – unless widespread misery is the goal. It’s Marxism. Every brand of socialist hates gold because all socialism runs on theft. Euphemisms and years of indoctrination don’t change a thing.

“Did you know that the greenback allowed Lincoln to finance the whole secession war and win it?”- Is this supposed to be a good thing? You should have a look at Thomas DiLorenzo’s books on Lincoln. Unlike Doris Kearns Goodwin and Bill O’Reilly, his work doesn’t aim to distort in order to please any establishment masters.

“The guy pointed out THE big scam…” – Ha, nonsense. Have you been hiding under a rock? Still himself makes it clear that he has not presented anything new.

“Have you been hiding under a rock?” Maybe I have, what other widespread litterature pre-dates this film, so prior to 1996. I confess, I was in the matrix at that time.

@Matthew – Very interesting to see we were exposed to pretty much the same body of knowledge. Freedom to fascism is what opened the rabbit hole for me. I was just looking at Bush`s actions and went on netflix with the keywords “bush” and “fascism”, and there poped Aaron Russo`s film. This is also the film that introduced me to our favorite candidate RP. I can take credit for reading Griffin or Mullins` books, but I did go through quit a bit of litterature. Pieces of eight would be an album from Styx in my mind, I guess I can now add it to the “books” category as well.

As for “the U.S. experience shows how a national currency is inevitably impaired and irreparably damaged by the whims of politicians and justices, lapdogs all for the moneyed interests.”, I think you would agree that people leading busy lives and not getting involved, or at the very least “trust, but verify”, may have the greater cause and effect relationship with that area.

The price of liberty is eternal vigilance…

Thanks John, encouragements are always welcome. I`ll say that this exchange brought me a little closer to understanding what RP suggests as to making gold and silver competing currencies with the FRNs. Removing these metals from the capital gains taxation scam would do that. Requiring gold and silver to pay taxes, however, would bring my utmost resistance. I’d rather pay the man with devalued dollars than full fledged hard currency.

For those curious about local script-currency, look into Lewis D. Solomon, of George Washinton University, Robert Swann of the Shumacher Society and the New Economics Institute. I am not vouching for anyone, just find this info interesting.

Real Estate update…I thought this belonged on this thread

http://finance.yahoo.com/news/home-prices-hit-10-low-131200327.html