Precious Metals Forum

Go Back   Precious Metals Forum > Precious Metals and Economic News > Fiat Ponzi

Like Tree5Likes
  • 4 Post By benjamen
  • 1 Post By ancona

Reply
 
LinkBack Thread Tools
Old 07-03-2012, 07:24 AM   #1
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
John Embry

Excellent article covering an interview of John Embry:
http://www.321gold.com/editorials/hera/hera070312.pdf

"high inflation is the most corrosive thing that can happen to an economy or to a country"

"When confronted with something that’s really unpleasant, and to which there’s no easy solution, the average person will basically block it out and look for somebody to tell them that everything is fine."


"...forty cents of every dollar spent at the federal level is borrowed and a lot of that money has been printed. There has never been a case in history where that hasn’t led to financial disaster."


"There are always going to be financial panics, but, under the gold standard they tend to be short term."
Personally looking at history, it seems financial downturns were more common prior to FED, but they were much less severe and shorter in length.

"Seldom in history has there been a middle class to equal what transpired in the U.S. and Canada from the 1950s to the 1980s. We basically took it for granted because that’s all we ever knew. The middle class in the United States is disappearing"


"I think China will probably dominate the 21st century"

"...commodities that are already depressed could be decent repositories for wealth. I like agricultural products. As the global economy continues to develop, I think the supply of food is going to be a major issue"
I have seen this repeatedly, food as an increasingly important investment.

"I’m more concerned with how many ounces I own than with how many U.S. dollars I can get for them at any given point in time."
ancona, rblong2us, Bonzo and 1 others like this.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 07-03-2012, 08:10 AM   #2
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
"I’m more concerned with how many ounces I own than with how many U.S. dollars I can get for them at any given point in time."
That is the most important sentence in the whole thread. Those who watch the silver "price" and wring their hands when we have smash-downs [yes, I'm guilty] must try anc concentrate more on what you will be trading it for and why we stack it in the first place. Value is relative, and silver will always retain her value for us as fiat slowly dies a miserable death.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 07-03-2012, 08:31 AM   #3
Super Moderator
 
benjamen's Avatar
 
Join Date: Mar 2012
Location: Migratory
Posts: 1,620
Liked: 685 times
Originally Posted by ancona View Post:
"I’m more concerned with how many ounces I own than with how many U.S. dollars I can get for them at any given point in time."
That is the most important sentence in the whole thread. Those who watch the silver "price" and wring their hands when we have smash-downs [yes, I'm guilty] must try anc concentrate more on what you will be trading it for and why we stack it in the first place. Value is relative, and silver will always retain her value for us as fiat slowly dies a miserable death.
Most people are so used to measuring their wealth in USD, they do not know how to guage their wealth in terms of ounces of silver or ounces of gold.

This brings natural questions such as:
Which metal(x) should I use to measure with?
How many ounces of x a year in income correlates with being well off?
How many ounces of x do I need to save in order to retire?

While it is easy and glib to say "as much as possible", but there must always be a balance in life between saving and enjoying your life.
__________________
I drive men mad
For love of me,
Easily beaten,
Never free.

PMBug 101 *** Forum Rules
benjamen is offline   Reply With Quote
Old 07-03-2012, 08:48 AM   #4
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Benjamen,
If one has six hundred ounces per year, I personally think that will be enough. If we look to 1880 - 1900, six hundred bucks a year was a decent wage, and an ounce of silver was roughly a buck.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 07-03-2012, 08:52 AM   #5
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
Here is a site with a great chart detailing prices and wages during the past century or so.

http://usa.usembassy.de/etexts/his/e_prices1.htm
Unobtanium likes this.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Old 07-03-2012, 01:06 PM   #6
Yellow Jacket
 
rblong2us's Avatar
 
Join Date: Nov 2011
Location: off world
Posts: 1,989
Liked: 880 times
Originally Posted by ancona View Post:
If one has six hundred ounces per year, I personally think that will be enough.
im hoping to manage with 12 ounces a year
__________________
if it cant be done with a digger .... it cant be done
rblong2us is offline   Reply With Quote
Old 07-03-2012, 01:26 PM   #7
Yellow Jacket
 
ancona's Avatar
 
Join Date: Nov 2011
Location: Waaay south
Posts: 3,370
Liked: 2046 times
I would hope to do with considerably less myself, given that I already grow ALL of the vegetables my family and neighbors eat, and have 7 hens laying eggs with six more coming on-line within a couple of months. There are a lot of lakes surrounding me for fish, and I happen to be a decent enough fisherman to catch a few every fow days if I need to. The only things I will need to pay for are energy, clothing and health care needs.
__________________
All things being equal, the simplest answer is quite often the correct answer - Occam
ancona is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Brother John - Any Fans? Renewed Investor Silver Bug 3 03-27-2012 06:15 PM
John Williams (shadowstats) discusses hyperinflation, gold and macro economic issues PMBug PM Bug 2 01-26-2012 06:08 AM


All times are GMT -5. The time now is 02:18 PM.


Powered by vBulletin® from Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0 PL2 ©2011, Crawlability, Inc.
Content of PMBug.com copyright © 2011 - 2019 Measuring Up. All Rights Reserved.