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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (26847)	1/4/2003 9:47:23 PM
From: pogbull	Read Replies (3) \| Respond to of 74559

[[It's just another commodity for people to hold if they are scared of collapse in trust in Uncle Al and Uncle Sam]] and [[Abstract money is perfectly good if people retain confidence in the people who promise to keep it at a more or less constant value compared with the average hourly pay rate of the median human.]] "Trust" and "confidence" in the Federal Reserve to keep the dollar at a more or less constant value??? Did you happen to miss Fed Governor Bernanke's comments of Nov 21, 2002?? Here is an excerpt and link: "But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost." federalreserve.gov How could that statement not undermine my "trust" and "confidence?" Does that statement make you want to hold US$s?? [[Abstract money is much better than 3D stuff like gold, which has to be dug up, carted around, stored in another hole, protected, insured, tested for purity and generally is a major hassle to handle.]] In an effort to keep honest administrators honest I prefer the level of seigniorage of real money (gold) over Federal Reserve Notes. [[If the USA collapses to its knees, it'll be because of self-destruction and loss of political clues on what makes a successful society.]] I overstated my case with that one <g> should have said the gold cartel will be dropped to their knees. Though, there is a distinct possibility that oil exporting islamic nations will essentially want gold for oil via the gold dinar. While perhaps not putting the US to its knees this certainly will not help the economic condition of this country. [[some smart-aleck USA financial gerrymandering computer-based trading nerds will clean out the bone wavers who will end up with no money, no gold and not even a bone to poke through their nose.]] I guess we just have a different perspective on things as I view "smart-aleck USA financial gerrymandering computer-based trading nerds" as a CORE part of the problem in this country. To tell you the truth they along with our government and wall st. elite make me sick as I feel they have undermined and gutted our financial system. So I'll take gold over the US$ any day of the week and leave the bone waving Aztecs for you to deal with. <gg>