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Politics : A Hard Look At Donald Trump
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To: THE WATSONYOUTH who wrote (1513)4/11/2016 7:44:29 PM
From: grusum  Read Replies (1) of 46960
 
i watched the video, but you might not like what i'm going to say. don't shoot the messenger.

pento doesn't understand currencies well and i consider that to be crucial.

he talks about a 'cashless' society and i think that's impossible. yes, they'll be able to reduce our use of cash through certain controls. but i don't think they'll be able to eliminate it entirely, no matter how hard they try. too many things we have now would be destroyed by eliminating cash. for instance, how would you have something like a yard sale if you were moving? would you be able to accept plastic? of course not. e-commerce is only used by businesses. there are expenses to using e-commerce that the average person cannot or will not bear. simply, a currency of some type is needed. it will always be needed.

of course these problems don't even begin to register with politicians, so they'll probably try to force us to go completely cashless anyway. it just can't work. it would probably create a depression in its own right.

much of what people like pento and rickards say is true. but they make a few serious errors as far as i'm concerned. and i haven't seen anything original in what they say. i've seen schiff say many of these things first. he doesn't have a perfect understanding of currencies either, but he's further along than pento or rickards.

i like grant because he brought up something i've talked about on SI before. that's the difference in certain types of deflation. grant said it well. i give him credit. he said something i haven't heard anyone else say regarding deflation. it really shows he's thinking. schiff has also been original in other areas. but i'm looking for 'somebody' that completely understands currencies. i haven't found him yet, but grant seems like he could get there. schiff has made some progress in that area too.

even thomas sowell doesn't understand currencies. walter williams might, i don't know. jim rogers has good instincts about currencies, but still falls a little short.

that's my take..
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