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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (103935)	12/8/2013 9:25:18 PM
From: Maurice Winn	1 Recommendation Recommended By dvdw© Read Replies (1) \| Respond to of 219956

TJ, those people are all dead, long ago. < the people who invented paper, ink, printing press, paper money, and money-transfer banking, as well as golf … have no particular reason to trust paper money as they have seen more monies dying than possibly most if not all others> While it's nice to think one can put an old head on young shoulders, for the most part, the next generation must relearn bitter lessons themselves. Those of us of a jaded age are aware that our descendants did not and do not hang on every word and wisely learned experience with which we regale them. Some of our own memories and unfortunate experiences remind us that we did not take careful account of some of our parents and grandparents expressed ideas and experiences either. Your Lamarkian theory of genetic endowment of Made in China experiences might be true, but is probably not> en.wikipedia.org Pounds sterling operated in a similar way: <otoh, gold was never 'money' in china, and 'only' considered wealth, that which is stored as opposed to tee-ed for day to day transactions the monetary tradition for transaction was silver and silver derivatives> In the good old days, we never had gold coins but did have silver coins. Gold was stashed in banks. Pounds sterling could be swapped for gold. Silver coins were carried around in pockets for buying things. Farthings, quarter farthings, half-pennies, pennies were copper based coins for smaller transactions. Ten shillings [the smallest note] was real money and represented 3 hours of an adult man's wage when I was young. The swindling process by governments over the last century destroyed that financial system, replacing it with the fiduciary promise to not hyperinflate the fiat currencies which took over from gold-backed money. The promise was kept only to the extent that dilution of about 10% a year was not considered hyperinflation. After a decade or three of dilution at 10% a year, there isn't much value left of a banknote sitting in a carton in the attic. 1963 gold = $35 an ounce. 2013 [50 years later] gold = about 50 x as much at $1300 or so. Should one expect them to kick the habit when it's so rewarding? Not a chance. Regarding antimony [Sb] and other rare elements with limited supplies, rather than a Strategic Petroleum Reserve, the USA would be better advised to stock up on those in case somebody puts a squeeze on supply to introduce some price volatility, such as bitcoin experiences. Mqurice