Iso.... BRAVO ~ great post.
...you have to step out of the dugout for a tip of the cap on that one my friend !
re:
["In fact, quite the contrary was true. In 1932 Hoover's Secretary of the Treasury reportedly warned his boss that so much gold was being demanded from the U.S. Treasury by U.S. citizens and from people abroad in exchange for paper dollars that the U.S. Treasury would soon lose all of its gold. That's why on January 31, 1934, Roosevelt forced American citizens to give up their gold or face a $10,000 fine and 10 years in jail. And as an aside, I think it is interesting to note that one day after the gold was stolen by the government from the American people, Roosevelt increased the price from $20.67 to $35. And get this! With the 69% revaluation of gold from $20.67 to $35, the government booked a $2 billion profit which it socked away in THE EXCAHNGE STABALIZATION FUND which according to GATA to this day is being used to manipulate the gold price.
But the point I am trying to make is that in the midst of the deflation, people were trashing paper money and demanding gold. Why? Because they KNEW, just as Japanese people today know that their money would not be safe in the bank. They instinctively opted for gold - an asset money rather than paper money which is a liability money."]
Absolutely a great point on SIPIC...do the research on them & you'll realize this is a ticking time bomb.
Another great point on NOT keeping all one's assets in institutions, let alone paper.
It's going to be a tough sell in this age of technology & financial sophistication to convey the value & efficacy of holding physical gold & silver...visions of Suit & Tied White Collar Business People (Doctor's, Lawyers, Teachers, Business owners etc) banging on the doors of the Banks of Argentina, or Brazil come to mind.
...any thoughts that a Global Financial Rogue Wave Event is perhaps going to pave the way for new a Global Currency ?
It's going to be an interesting chapter in history unfold shortly... America has always conveniently seemed to find a War driven-Economy when it needs one. The $64 question is whether the Fed starts inflating early enough and fast enough and if there's enough green ink and paper to get the job done ... |
