Got Gold?
Guest Post by Dennis Miller at Miller On The Money
Good friend Chuck Butler, editor of The Daily Pfennig, is a world currency expert. He constantly asks, “Got Gold?”
Currency is generally thought of as government-printed money; Euros, Yen, dollars, etc. Gold isn’t normally considered currency.
I’m concerned about the Fed’s lame attempt to tame inflation, fearing they will yield to pressure from member banks and/or politicians to restart their printing press – resulting in even higher inflation.
Chuck regularly critiques my articles; always suggesting I ask readers, “Got Gold?”
Today we are going to find out why.
DENNIS: Chuck, thanks for taking the time to educate our readers.
Since the 2008 bank bailouts, many felt inflation was inevitable and gold would go (ala Jackie Gleason) “To the moon, Alice!” High inflation arrived, yet gold has not taken off.
Why the constant reminders?
CHUCK: Dennis, thanks again for allowing me to opine in your valuable letter…
I started following Gold in the early 2000s when everyone was saying it was a “dead market.” That got me thinking in the contra-state of mind that I’m usually in. I researched the history of Gold, and learned something that never crossed my mind before; historically, EVERY currency ever created has eventually failed….
Click Here To Continue Reading…
Got Gold?!
None of your business!
Exactly. That ain’t the sort of question you’re ever going to get an honest answer to, so why bother asking.
Got ammo? Uh, not in this world. Get lost. “take the guns first”. Be very careful the “one”.
The answer to such questions just came to me…
“FAFO, bitch.”
THERE’S YOUR TEE, Jim! A camo FAFO pocket tee!
FAFO is right.
The only time the question should be answered outside the company of trusted friends is when the firearm is used.
The folks in East India have been using gold for currency since forever. They know paper with ink on it is a fraud, and a portion of the country that is not in the cities does not have bank accounts.
There it is very present in all the jewelry the women wear to display the family wealth in the open.
A big eye-opener is the gold bazzar in Dubai, rows of gold sellers. Check it out on u tube.
Here in North America, the banksters, in collusion with the government, have completely demonetized the metals as currency for the obvious reason of running the printing press at max speed for the benefit of the government and the banksters.
Now the debt-based fiat currency here is worldwide as the DEBT in the form of government obligations is used as currency in most of the world. The problem is being exposed with the Russian and now Chinese hook up to link the currencies to hard assets.
Saw the gold souks of Dubai with my own eyes. Amazing.
The problem with gold are the premiums are too high. You lose 10% right off the bat.
With junk silver “I’m holding”.
“You’re holding? Isn’t that illegal? ”
“Where did you come from, the 70’s?”
Further back than that.
I’m a fucking dinosaur.
You lose 10% USD, the whole reason to buy gold is that the USD is headed to Zero. In the future, the value of gold will be determined by the person that you need something from (barter). Not the government that devalued your USD to zero.
Stop and think about what you just said. It ain’t wrong, but you can probably see how that’s gonna cause problems. “Price discovery” is about to take on an entirely new meaning, and it won’t be pretty.
The euro dies before the dollar.
People are funny. They go to immense effort to dig gold up out of the ground. They worship it until the Gov comes for it. Then they bury it right back in the ground again…and this has been going on forever.
WTF?