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Thread: Peter Schiff was WRONG!!!!

  1. #391
    Quote Originally Posted by Zippyjuan View Post
    If gold is money, can you take it to a store and buy stuff with it? If no, then it isn't money. It is a commodity. Yes, it is true that it has been used for money in the past but isn't today. Actually most money today isn't even paper or metals but digital numbers. Only about ten percent is "currency". Seashells have also been used for money as has rice among other things.
    If the Govt suddenly passed a law stating that humans don't need water anymore. Would humans suddenly not need water?

    Government laws are GARBAGE

    I actually don't think we'll be using silver/gold as currency themselves at stores in the future. What's more likely to happen is I'll go to the bank and deposit my 100oz of silver and be issued a Silver Debit card. Then I'll go to the grocery store and they'll be 2 prices listed. You can buy this loaf of bread for $50 US Treasury Notes/Dollars OR 1/10 oz of silver. I'll swipe my Silver Debit card and 1/10th oz will be deducted from my 100oz. No one will be the wiser.

    Alan Greenspan: 'Intrinsic currencies like Gold and Silver for example, are acceptable without a third party guarantee'

    Last edited by ctiger2; 01-28-2015 at 07:37 PM.



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  3. #392
    Peter Schiff was wrong, you were wrong, I was wrong... Even Ron Paul has been wrong. What's the big deal? Does anyone think that someone can accurately predict the future? I think "prophets" went out with the old testament...

    I wish I could get a silver dollar for every time I have been "wrong". I'd have a tidy retirement, that's for sure.
    BEWARE THE CULT OF "GOVERNMENT"

    Christian Anarchy - Our Only Hope For Liberty In Our Lifetime!
    Sonmi 451: Truth is singular. Its "versions" are mistruths.

    https://en.wikipedia.org/wiki/User:ChristianAnarchist

    Use an internet archive site like
    THIS ONE
    to archive the article and create the link to the article content instead.



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  5. #393
    Quote Originally Posted by Zippyjuan View Post
    If gold is money, can you take it to a store and buy stuff with it? If no, then it isn't money. It is a commodity. Yes, it is true that it has been used for money in the past but isn't today. Actually most money today isn't even paper or metals but digital numbers. Only about ten percent is "currency". Seashells have also been used for money as has rice among other things.
    See what I mean about confusing economics so much that it's difficult to understand? Changing definitions of words and forcing the definition adoption at the point of gun (legal tender laws) is the bread and butter of a Keynesian. Next, the digital will no longer be money, it will be "credits". In fact, banks have already determined that money deposits aren't even money any more once the bank takes possession of it. They are now "shares" in that bank, not money. Right Zip?
    "Let it not be said that we did nothing."-Ron Paul

    "We have set them on the hobby-horse of an idea about the absorption of individuality by the symbolic unit of COLLECTIVISM. They have never yet and they never will have the sense to reflect that this hobby-horse is a manifest violation of the most important law of nature, which has established from the very creation of the world one unit unlike another and precisely for the purpose of instituting individuality."- A Quote From Some Old Book

  6. #394
    Quote Originally Posted by Zippyjuan View Post
    If gold is money, can you take it to a store and buy stuff with it? If no, then it isn't money. It is a commodity. Yes, it is true that it has been used for money in the past but isn't today. Actually most money today isn't even paper or metals but digital numbers. Only about ten percent is "currency". Seashells have also been used for money as has rice among other things.
    You can take a $100 FRN bill into an establishment and change it for smaller FRN denominations.

    You can take an American Gold Eagle coin into an establishment and change it for smaller FRN denominations.

    There isn't a country or a currency on earth that this simple analogy doesn't hold true in.

    What's the question?

    The Gold Bullion Coin Act Of 1985:

    The act was passed by Congress pursuant to its exclusive power to coin money and set its value, set forth in Article I, Section 8, Clause 5 of the United States Constitution. It was signed by Ronald Reagan in 1985.
    Reads, in part:

    “(3) For purposes of section 5132(a)(1) of this title, all coins minted under this subsection shall be considered to be numismatic items”.

    Definition of numismatic:

    nu·mis·mat·ic
    (no͞o′mĭz-măt′ĭk, -mĭs-, nyo͞o′-)
    adj.
    1. Of or relating to coins or currency.
    2. Of or relating to numismatics.

  7. #395
    You can take an American Gold Eagle coin into an establishment and change it for smaller FRN denominations.
    So I can give you ten $5 bills in exchange for your $50 gold piece? Where can we meet and how many do you have?

  8. #396
    Peter Schiff was also right about something, probably
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  9. #397
    You wouldn't know what to do with a $50 gold piece, otherwise, I'd just give you one.

    You'd probably scurry it off to your bosses at the FED to hold in their vaults to keep tradition alive.

    Bull$#@! aside, gold is money and always has been and always will be, seashells and digital credits notwithstanding.

  10. #398
    Quote Originally Posted by ChristianAnarchist View Post
    Ya, I'm one of those people. I never expected the ponzi schemes to last this long. I was WRONG (about how long until the collapse). I'm NOT WRONG about the collapse coming. Eventually the confidence will be gone from this confidence game and the house of cards will come down. The world will still turn and people will still live (most of them). Some people who have made no preparations will struggle to feed their families and some will even die. It's not that any of us WANT this or even hope that we are right. I'm tickled to death that my "predictions" have so far been premature. I even hope that I'm COMPLETELY wrong and there will never be a collapse and the goons in D.C. will find "religion" and get their budgets in order and stop taxing everyone to death... I think we all know that's not very likely...
    Quote Originally Posted by ChristianAnarchist View Post
    Peter Schiff was wrong, you were wrong, I was wrong... Even Ron Paul has been wrong. What's the big deal? Does anyone think that someone can accurately predict the future? I think "prophets" went out with the old testament...

    I wish I could get a silver dollar for every time I have been "wrong". I'd have a tidy retirement, that's for sure.
    The point is not to "pile on" and rub salt on Peter Schiff and other true-believing gold bugs. Nor -- emphatically! -- to crow about somehow being right. "I was right, you were wrong, nyah-nyah-nyah-nyah-nyah-nyah." No! My point is to try to expose more people to a different way of thinking about investing that will hopefully help them keep more of their hard-earned money.

    We are good liberty people here. The more resources and wealth libertarians have, the better, in my view. So, let's get good returns. Let's not fritter away hard-won life savings following fortune-tellers and broken methodologies.

    This stuff is likely really relevant to you, ChristianAnarchist. You probably have an investment strategy right now. You have something to lose, and something to gain, real money on the table. I'd encourage you to look into the Permanent Portfolio concept. Post-It Note version:

    There's four possible conditions the economy can be in:

    1. Inflation
    2. Deflation
    3. Prosperity
    4. Recession

    There's four assets to hold which will carry you through and and all four of these conditions:

    1. Gold (for inflation)
    2. Bonds (for deflation)
    3. Stocks (for prosperity)
    4. Cash (for recession)


    It's a strategy that's proven its mettle for over 40 years now. Good, steady returns. Low volatility. Ready for anything.

  11. #399
    Quote Originally Posted by helmuth_hubener View Post
    The point is not to "pile on" and rub salt on Peter Schiff and other true-believing gold bugs. Nor -- emphatically! -- to crow about somehow being right. "I was right, you were wrong, nyah-nyah-nyah-nyah-nyah-nyah." No! My point is to try to expose more people to a different way of thinking about investing that will hopefully help them keep more of their hard-earned money.

    We are good liberty people here. The more resources and wealth libertarians have, the better, in my view. So, let's get good returns. Let's not fritter away hard-won life savings following fortune-tellers and broken methodologies.

    This stuff is likely really relevant to you, ChristianAnarchist. You probably have an investment strategy right now. You have something to lose, and something to gain, real money on the table. I'd encourage you to look into the Permanent Portfolio concept. Post-It Note version:

    There's four possible conditions the economy can be in:

    1. Inflation
    2. Deflation
    3. Prosperity
    4. Recession

    There's four assets to hold which will carry you through and and all four of these conditions:

    1. Gold (for inflation)
    2. Bonds (for deflation)
    3. Stocks (for prosperity)
    4. Cash (for recession)


    It's a strategy that's proven its mettle for over 40 years now. Good, steady returns. Low volatility. Ready for anything.
    I think that looks pretty good. You did leave out one even more valuable asset and that is talent or skill. The best thing someone can carry is in their mind. They need to have some marketable trade with them so in any community or situation they will have something of value to "trade".
    BEWARE THE CULT OF "GOVERNMENT"

    Christian Anarchy - Our Only Hope For Liberty In Our Lifetime!
    Sonmi 451: Truth is singular. Its "versions" are mistruths.

    https://en.wikipedia.org/wiki/User:ChristianAnarchist

    Use an internet archive site like
    THIS ONE
    to archive the article and create the link to the article content instead.

  12. #400
    Quote Originally Posted by ChristianAnarchist View Post
    I think that looks pretty good. You did leave out one even more valuable asset and that is talent or skill.
    That is a thousand times more valuable than the rest.



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  14. #401
    Fact is the Market is rigged.

  15. #402
    Quote Originally Posted by Zippyjuan View Post
    Housing prices:


    http://seekingalpha.com/article/2452...housing-market

    Gold prices:


    http://www.kitco.com/charts/livegold.html

    Look familiar? One is a bubble and one is not?
    Housing naturally returned to its pre-bubble prices, a bubble the Keynesians advocated, advertised, pumped and delivered. Gold is as subject to manipulation as any other good on the planet, but you'll note that $1200/oz is still a helluva lot more than people were paying 13 years ago when our Wise Overlords began openly and in earnest to suck the value out of the FRN. So, no - it doesn't look familiar.

    Quote Originally Posted by Zippyjuan View Post
    If gold is money, can you take it to a store and buy stuff with it? If no, then it isn't money. It is a commodity.
    Quote Originally Posted by dannno View Post
    That's only true because of legal tender laws, not due to the nature of gold itself.
    Oops! Looks like you forgot to respond to dannno. I'm sure that was an innocent oversight.

    Because surely no one as intelligent as yourself would fail to realize that the only reason you cannot carry a gold coin into a store to make a purchase is OBVIOUSLY "legal tender" "laws", right? RIGHT!?

    Right.

  16. #403
    Quote Originally Posted by Zippyjuan View Post
    If gold is money, can you take it to a store and buy stuff with it? ...
    Okay there Ben Bernanke. Why dont you just go print up some more fiat currency and steal the value of the existing currency for yourself? It is people like you that perpetuate this ponzi scheme economy, and I suspect greatly that you stand to profit heavily from it. Its also why very few here believe a single statement you make. You forward their agenda, and the ideas you propose are more dangerous than standing armies because you are an ENABLER of the biggest scam in human history.

    You are an Enemy of Liberty, Independence, and real Freedom.
    1776 > 1984

    The FAILURE of the United States Government to operate and maintain an
    Honest Money System , which frees the ordinary man from the clutches of the money manipulators, is the single largest contributing factor to the World's current Economic Crisis.

    The Elimination of Privacy is the Architecture of Genocide

    Belief, Money, and Violence are the three ways all people are controlled

    Quote Originally Posted by Zippyjuan View Post
    Our central bank is not privately owned.

  17. #404
    Quote Originally Posted by A Son of Liberty View Post
    Housing naturally returned to its pre-bubble prices, a bubble the Keynesians advocated, advertised, pumped and delivered. Gold is as subject to manipulation as any other good on the planet, but you'll note that $1200/oz is still a helluva lot more than people were paying 13 years ago when our Wise Overlords began openly and in earnest to suck the value out of the FRN. So, no - it doesn't look familiar.





    Oops! Looks like you forgot to respond to dannno. I'm sure that was an innocent oversight.

    Because surely no one as intelligent as yourself would fail to realize that the only reason you cannot carry a gold coin into a store to make a purchase is OBVIOUSLY "legal tender" "laws", right? RIGHT!?


    Right.
    Gold and Silver Eagles are legal tender at their face values. From the US Mint:

    http://www.usmint.gov/mint_programs/...can_eagle_gold

    American Eagles are imprinted with their gold content and legal tender "face" value.
    http://2008silvereagle.com/are_ameri...gal_tender.htm

    Since they don’t circulate and weren’t issued through banks, are silver eagle coins “legal tender” for all debts public and private, like paper money?

    According to research done by Numismatic News*, even though the face value is well below the market price of US eagle coins, these coins are ‘legal tender’ for all debts public and private. The legal tender value is the amount printed on the coin (not the metallic value).

    American Eagle coins are legal tender

    In today’s market a person would be considered foolish to spend a silver eagle dollar for its $1.00 face value, although you could technically do so. However, why spend a silver eagle dollar for $1.00 when you could sell it for many times that for the silver that it contains?

  18. #405
    You're trying to get off on a technicality, while ignoring the rest of the points. Transparent.

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