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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Real Man who wrote (417776)9/20/2011 4:51:15 PM
From: NucTrader1 Recommendation  Read Replies (2) of 436258
 
Here's my problem with gold, other than the fact everywhere you turn on the Internet or in publications there's something or someone screaming at you to guy gold, usually the sign of a bubble: There's an article in Today's WSJ about locales in Brazil using local currency equal to the real purchasing power, but usuable only in that locale. Local merchants discount their merchandise and more than make up in volume for their discounts to the local currency. This is with the approval of the government. In this country, I've read somewhere that during the great depression, some places in California used wood chips as currency. My point? 1) In desperate times whatever medium the locals choose becomes currency. I'm not thinking there's going to be a universal acceptance of gold as an exchange medium in all locales (not all the locals have gold to exchange, so they'll need something more universal, like wood chips), and there may be frank barter as well. 2) As long as crooked governments the world over run by central banks rule whatever country, they will allow absolutely nothing to replace their fiat. If they allow ownership of gold, they'll actively suppress the price, outlaw it, or make it prohibitive in taxes when you go to "take your profit". Choose one. Of course, I've been wrong before, LOL!
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