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Posts Tagged ‘silver’

USA PreparesHere a summary I prepared of my December 24, 2013 appearance on USA Prepares with Vincent Finelli:

4m – Gold coins have been used for 2600 years in a wide-spread way, since the Roman Republic
4m – 40% backing of the money supply by gold in the u.s. from 1914-1933, so for every $5, they had to have $2 worth of gold
5m – 1933 gold confiscation, where most didn’t comply, and that’s good, because it was under false pretenses
5m – 1974 – Americans able to own gold again, a big increase from them until 1980, then a 21-year period of decline until around $250 USD an ounce
6m – Gold and silver confiscation show how valuable they are
6m – Numismatic gold free from confiscation
6m – Platinum as the overlooked investment metal and currency
7m – Silver’s a tighter market than gold – 70% of silver comes from base metal mining, so even when economy’s not doing so well, silver can still have a great investment value, because of tighter supply
8m – With gold, the central banks own a lot of it, in total
8m – They may want to back up IMF SDRs or other currencies with gold at some point
9m – Gold being thrown away by not recycling gold in old computers
10m – The reason why gold and silver haven’t reached the true market value they deserve is because of the paper futures market, said to be around 100 times the amount of physical gold
18m – Physical gold and silver vs digits on a computer
20m – No substitute for having actual tangible value for exchange
30m – On cash – it’s recognizable and more likely to be exchanged for smaller items than gold, and gold would be better for appreciating in value to buy more later on
31m – Big risk with cash of hyperinflation, if govt doesn’t honour its debt commitments
32m – Silver at $20 an ounce looks like a good investment to me
35m – Bitcoins introduced in January 2009, theory underlying them goes back to at least 1996
35m – Nodes facilitating transactions and being rewarded with Bitcoins for doing so
36m – The pros — privately issued, decentralized, infinitesimally low transaction costs, high divisibility, international recognition
37m – The cons — if the internet goes down, your Bitcoins are useless, govts getting concerned over their hegemony to issue money
38m – Silk Road shutdown
38m – Public record of all Bitcoin transactions — could be tied into govt intelligence operation — a giveway would be if mass media starts really promoting Bitcoin
39m – China requiring all Bitcoin users to be registered
40m – Bitcoin providing a great educational opportunity, and a great way to make (or lose) a quick buck, as these currencies are reminiscent of the Dot Com Boom (and Bust)
47m – I think the name Bitcoin, with coin in the name, was deliberately used as a marketing tool, to connote more tangible value to them
49m – From Bitcoincharts.com, it was trading that day with around 30% volatility
50m – Major U.S. retailer, Overstock.com, plans to accept Bitcoin by the second half of 2014, but will continuously convert them into dollars, to limit volatility

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G. Edward GriffinSome interesting points arose out of this November 24, 2013 interview on the Big Plantation with G. Edward Griffin.

First, in clearing up a misconception about an alleged 100-year charter for the Federal Reserve, he claims there originally was one, when in reality, it was a 20-year charter.

16m – In clearing up misconception about a 100-year charter for the Federal Reserve, he says there originally was one, and it was later removed, when in reality it was a 20-year charter
19m – No JFK speech at Columbia university about breaking up Fed, as he had never even been to that university
25m – Said he likes Bitcoin a lot because it’s independent of government interference
26m – He likes the feature that the supply is limited (FC: Actually, this is one of its big negatives, in my opinion)
27m – Said he doesn’t like that it’s not backed up by something of intrinsic value
28m – Admits govt can shut down gold and silver, too
28m – Said it’s a good idea to have your assets tied up in gold and silver (FC: It wasn’t a good idea in 1933 and 1934, when they were confiscated, respectively!)
29m – Says it’s playing a very important role in the awareness of our monetary problems today
33m – Admits bankers do own a lot of gold, because it’s a store of value (FC: And because they have historically controlled money, economies and nations with it)
34m – Laughably says it doesn’t mean they want to back a currency with it, because it puts limits on their ability to make more money off interest (What about the U.S. backing up its money supply from 1914 to 1933 40% by gold? Were the people crying out for that, or was it the bankers? He’s either unaware of, or intentionally concealing the historical pattern of the bankers reverting to some gold standard in order to shore up confidence in the monetary system after they’ve collapsed the current one.)
39m – Said he’s read evidence claiming that silver could be equal to gold in an unregulated market (FC: Not much evidence to suggest that, since gold has always traded higher than silver throughout the entire history of the United States, including the nearly 30 years after Andrew Jackson killed the Second (Central) Bank of the United States).

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The Facebook page for my talk at the 9th annual Usuryfree week event in Toronto on November 16, 2013 from 7 to 9:30 PM EST can be found here.

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Exposing Faux CapitalismOn the May 12, 2013 inaugural episode of Exposing Faux Capitalism with Jason Erb on Truth Frequency Radio, I covered the following articles:

1) The U.S. Constitution doesn’t say money should be gold or silver coin

2) The Constitution doesn’t insist on a gold or silver-backed currency

3) The Constitution doesn’t prohibit both the states and federal government from issuing fiat money

4) The gold double standard

5) A Money Power trap: Saying that private money creation is the problem

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Starting 12 minutes in, Professor Antal Fekete of the “New Austrian School” of economics explains the more than 80% manipulated collapse in the price of silver from 1879 to 1935 on the February 28, 2013 episode of the Keiser Report on Russia Today.

So much for silver being “a store of value”!

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On the March 17, 2013 episode of Exposing Faux Capitalism, I covered the following issues, among others:

My take on Oracle going off the air, fake monetary quotes, nature of money, gold and silver vs. paper, Congress’ power to coin money, Rand Paul’s filibuster distraction from not enough senators, Austrian economics controlled opposition & Syrian uprising.

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Quarterly Journal of Austrian EconomicsAt a local libertarian gathering this past week, the topic of economics came up, and I said to the surprise of everyone there, “I don’t agree with Austrian economics.”

I started getting into the first reason I list here, and for completeness, here are ten top reasons:

1) I don’t think government has to borrow money into circulation as a debt with interest in order to pay for carrying out its enumerated powers.

2) I see it putting too much focus and blame on government, instead of force and fraud carried out by any individuals or group of individuals, including corporations.

3) The obsession with inflation. Inflation is absolutely necessary under a debt and interest-based monetary system in order to pay the aggregate debt.

4) Making frequent reference to a so-called “gold standard,” as opposed to calling it a free market system of freely competing currencies.

5) Its obsession with gold, and to a lesser extent, silver, as “real money,” “sound money,” as I thoroughly challenged in my article, The gold double standard.

6) Its elite origins, as illustrated in my July 22, 2012 interview with monetary reformer, Anthony Migchels.

7) The willful blindness toward, or deliberate omission of, successful government-issued currencies, and facts concerning how some such as the Continental Dollar and United States Notes were deliberately sabotaged by banksters and their agents, as I mention here.

8) Inconsistencies among some prominent Austrian economists, in holding that corporations are entitled to private property rights protections, despite being creatures of government, as I wrote about here.

9) Downplaying the role of interest. When a debt is created with interest owed and no money created to pay the interest, more money has to be borrowed, or one’s production has to be pledged in order to pay the debt, or one’s property pledged as a security.

10) Not taking a positive position on local, interest-free currencies as a great market alternative, all on the basis that the so-called “free market” will decide everything, as opposed to reasoning independently about such a proposal.

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