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Pastimes : The Hot Button Questions:- Money, Banks, & the Economy

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To: maceng2 who started this subject	8/13/2003 1:05:29 PM
From: Chispas	Read Replies (1) of 1417

Sometimes GOLD-EAGLE posters deserve applause... Here's one... ---------------------------------------------------------- Remember the big picture (silvernugget) Aug 13, 12:52 It's wise here to remember the big picture. I remember Doug Casey talking about his Dad buying land in Maryland during the 30's and 40's. People said "Why are you buying an asset that pays no interest? Land doesn't pay a return, and it hasn't gone up in price every?" But the senior Casey saw the growth of government from Roosevelt's policies as an unstoppable force, and knew that the seat of that government would sprawl all over the world... or at least the Maryland countryside. He became a multimillionaire on the appreciation of that land. That's what's going to happen with gold and silver, as the leviathon of the fiat money system collapses. It won't really matter whether it happens in fast motion or slow motion. There is only one end to this fiasco, and that is the end of the FEDs ability to make money. I personally believe it will end with the complete rejection of the American dollar as it is known today: i.e., a debt instrument backed by the faith and credit of the US government. In reality that means that the owner of American debt (whether a T-bill or a 30 year bond or a George Washington dollar bill) can present their debt to the US government, and all they will get for it is... another debt instrument. Yuck. One of the most satisfying things about buying physical today: I am trading what I KNOW to be a debt instrument (George Washington paper dollar) for a REAL asset (a silver or gold coin). As usual, my favorite silver investment are bags of 40% and 90%. The 40% because it is $1000 dollars of today's American money AND 295 ounces of REAL money (silver). The 90% because it represents American money when it was REAL money (silver)... thus reminding me that it was only 40 years ago that every American citizen carried REAL money in their pockets. We'll be there again, real soon now. Silvernugget

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