If you don't Silver Stack you will be left behind

Silver is the leader still this week,haha Fiat sucks its for suckers

 

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I want to thank all those that stacked silver this week,I myself picked up a half pound.

 

Name one monetary system backed by pm that survived. Remember, almost every coinage system had a higher value on the coin than the pm was worth.

Have pm coins been a good investment in times of emergencies? Yes, at times, though many times it didn't save them anyway. In fact, many cities known to have pm were attacked BECAUSE of this. If they didn't have pm they wouldn't have been killed. In fact, it still happens. Just last year people were killed in robberies because someone knew they had pm.

So anyway, I can talk historical coinage systems all day long in depth. Please show me how pm saved any of them. The loge at lived coinage system in human history was chinese cash, and these were made exclusively of copper.

 

Yeah, poor me who bought farmland 20 years ago, and stocks in 2009. I sure was dumb to not buy silver instead. Excusee while I go to the bank to cash my land rent and dividend checks.....

 

Go ahead Chris.......rub it in.

 

Besides, you know how heavy this stuff is to carry around when ya got to make a fast exit from town?

 

you know I am not trying to rub anything in Ken. All assets have their place. In fact, I am buying gold right now for something to do. I would buy silver some but the sdb is full. I refuse to ever have pm at home with my family.

 

Chris, you know me. I'm the jokester. You make perfect sense in what you relay in your above post. I just thought I'd add a little Mayo......

 

I know man. I debated on whether to join this thread, it just started sounding very 2011'y.

 

But, but....65 bullion newsletters couldn't be wrong The rumor is that the big asteroid boulder ( 2-4 meters diameter) NASA is going to pick up and put into orbit around the moon is completely gold and going to .........bullion.....,..etc.

 

Pretty simple to state you predicted silver prices when it hasn't moved more than $1.25 either way in the past 90 days. Thats like me predicting it'll be sunny in Phoenix July 4, as there's at least a 90% chance I'll be right.

 

Yeah, but I fear our friend hails from NY Guy. More than often, it rains on the 4th in these parts......

 

You still have not named a fiat currency that has survived for 5000 years. Gold and silver, my friend, have been used as currency for thousands of years.

 

Gilbert, fiat has indeed lasted 5000 years. In fact it has been traded thousands of years before gold and silver. What you're missing, is that no GOVERNMENT has lasted 5000 years. No government carries over a currency from a predecessor. But that doesn't mean the concept doesn't carry on.

 

Ob

 

"Gold is a currency. It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it,"
--Alan Greenspan

 

That quote doesn't quite catch Greenspan's nuance.

Here's a full transcript I did directly from the video:

Tett: Do you think that gold is *currently* a good investment, given what you're saying about the potential for *turmoil*?

Greenspan: Yes.

Tett: Do you put -- [laughter]

Greenspan: [chuckle] I mean I -- Economists are usually perfect and equivocated. In this- In this case I didn't equivocate. Look- Remember what- remember what we're looking at. Gold is a currency. It is still, by all evidence, the premier currency where no fiat currency, including the dollar, can match it. And so that the issue is if we are looking at a question of *turmoil*, you will find as we always have in the past, it moves into the gold price. But the gold price is actually *half* a commodity price, so when the economy is weakening, it goes down like copper. Uh- but it's also got a monetary characteristic which is *intrinsic*. It's not in-bred into human beings -- I cannot conceive of any mechanism by which you could say that -- but it behaves it- so it is. Intrinsic currencies like gold and silver, for example, are acceptable without a third-party guarantee. And-uh I mean -- for example the end of World War 2 -- or just *at* the end of it, Germany could *not* import goods *without* paying for it in gold. The-uh- person who *shipped* the goods in would accept the gold, and didn't care if there was any credit associated with it. That is a very rare phenomenon it's-uh-it's the *reason* why -- for example -- in uh-uh a renewal of an agreement that the Central Banks of-- the European Central Banks, I believe, about allocating their gold sales, which occurred when gold prices were falling down -- that has been renewed this year with a statement that it, gold, serves a very important place in monetary reserves. And the question is: Why did Central Banks put money into an asset which has no rate of return, but *cost* of storage and insurance and everything else like that-- Why are they doing that? If you look at the data, with very few exceptions, all of the developed countries have gold reserves. Why?

Tett: I imagine right now it's because of uh- question mark hanging over the value of fiat currency, or the credibility going forward.

Greenspan: Well that's what I'm getting at. Every time uh-uh-uh- you get some really serious questions, the 50% of the gold price determination begins to move.

Tett: Right.

Greenspan: And uh- I-I think it is fascinating-- uh- and- I know is Benn Steil in the audience?

Tett: Yes.

Greenspan: There he is-- OK-- Uh, before you read my book, go read Benn's book. [laughter] The reason is, you'll find it fascinating on exactly this issue, because here you have the ultimate test at the Mount Washington Hotel in 1944 of the *real* intellectual debate between the -- uh- those who wanted an international fiat currency which was embodied in John Maynard Keynes' construct of a bank core, and he was there in 1944, holding forth with all of his prestige, but couldn't counter the fact that the United States dollar was convertible into gold, and that was the major draw-- everyone wanted American's- America's gold. And I think that Benn really described that in extraordinarily useful terms, as far as I can see. Anyway, thank you.
​

So, do you see what he's *really* saying with that comment, @Gilbert ?

 

It seems to me that there are a group here on CT that blindly support the dollar regardless of its health, and love to horang anyone who might suggest PM or a paper currency backed by PM is a preferable currency. It makes me wonder who you might be? Employee of the Federal Reserve? Employee of one the the TBTF banks? Or an apologist for the above? Does the exponential growth in dollars not frighten you? Do you not think that trillions of dollars backed by air is not a horrible thing for our country? I am saddened that so many here would defend a system that is so contrary to what our Forefathers declared to be money, gold and silver. Shame on you all!

 

Another conspiracy theorist shows their true colors.

Google "Steve Caruso coins." You'll find out who I am.

I do not "blindly support" anything -- be it dollars, precious metals, or pickles.

In the end, gold is backed with the same thing fiat is backed with: Faith in its value.

Both gold and the dollar are well respected. They have their ups and downs with faith, and generally when faith in one goes up, faith in the other goes down (and vice versa).

Intrinsically, you can eat neither. Neither will, intrinsically, save your life if you're dying of thirst in the middle of the desert. You can't brew a hot cup of green backs or gold nuggets to enjoy. It doesn't work. If somehow gold or silver goes the way of aluminum -- precious metal one day, tin cans the next -- it will be virtually worthless. The same crisis can happen to any fiat currency, too.

The trick is diversity and a long-term approach. No get-rich-quick schemes that PM hawkers peddle. That is why this "if you don't stack silver you will be left behind" rubbish is just that: Rubbish. (And I say that as someone who does collect silver.)

Also, unless you want to go back to live in the late 1700s where your average life expectancy was half of what it is now, there was little in the realms of indoor plumbing (or dentistry, or medical care), and no guarantee that the majority of your Constitutional assurances would be respected or enforced, leave our Forefathers out of this. It's embarrassing to invoke them in such a benighted way. If only our Forefathers were here, they wouldn't know an iPhone from Adam, grasp that we have 7 billion souls on this planet, and a thoroughly globalized economy where commodity currency as a national solution doesn't work anymore when half its value is based on fear.

 

Conspiracy theorists? What I am, Steve, is a person who does not wish to "return to the late 1700's" - although I have nothing against anyone so inclined. I am also a person who does not appreciate people who put labels on people they do not know. As a side note, you might want to take a walk through a late eighteenth century cemetery and note the age of the residents, deduct infants and juveniles and you will find a surprising number of octogenarians. Them that lived to adulthood stood a pretty good chance of living to a ripe old age.
I too, Steve, believe in diversifying investments, but that portion dedicated to stocks and bonds has declined substantially since the 2008 financial crisis. Now I am more interested in assets I can hold in my hand and are out of reach of those financial wizards of Wall Street. PM's and collectable coins (no I will not be buying any from you) and real estate are my insurance policies in the event that the powers that be loose control over the system. As I age and gain wisdom it becomes clearer that they really don't have a clue. By the way, it appears the stackers are winning by a healthy margin.