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."
:rotflmbo:
"...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."
:judge:
"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"
:judge:
"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."
:clap:
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."
:rotflmbo:
"...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."
:judge:
"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"
:judge:
"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."
:clap:
