They Prosecute Pickpockets while letting Real Thieves Run Free
COMMENT: Hi and thanks:
I’ve been following you since before Rikers. I had doubts as to whether you would make it or not. Tough and determined obviously.
Before I had ever heard of you I realized there were massive flows of capital through-out the world but limited in knowledge and information access I had no way to follow or measure them. Kind of like the tide moving in and out. I grew up living on the water. My backyard was the beach and the Atlantic. Nothing like visual cycles. Thanks for the validation. I would suggest everyone spend time on the beach.
Due to family obligations I missed your calls in’11 &’12 on the metals. It was ’13 before I realized what was going on and managed to extricate myself tho not without some lumps.
In return for the information you have provided me I offer the following. Perhaps you might want to include it in your blog.
” Generations before you were destroyed because they declined to punish the powerful thieves yet were relentless in punishing the small pickpockets.”
This is a Hadith. Certifiable words by the “certifiers”, who ever they were, of the Profit Mohammad.
Thanks again,
–
PS. I lived in the Conch Republic for most of my adult life and have used calcium bentonite/clay/mud for cuts, infections, insect bites, heartburn, etc., for years.
Minnesota Hunting Bullion – Government is Raging Against the Dying of the Light
QUESTION: Mr. Armstrong, I suppose I am a goldbug. I believe gold will be the answer and disagree with you advising people to be cautious about buying gold bullion. Gold has historically carried the day. I believe gold bullion is the way to the future. Why do you not see that reality?
ANSWER: Perhaps you should start to open your eyes. You are living in a period that no longer exists. Minnesota is the first state to attack precious metal bullion. Minnesota passed a law that is totally insane. They require anyone buying or sellingbullion to register, keep records, and pay taxes besides handing over info.
Normal antique coins, even Roman, can no longer be shipped to Minnesota. Dealers will not ship any coins, even collector coins, to Minnesota. Why? Because the politicians have defined “bullion” as ANY COIN containing more than just 1% of gold, silver, or platinum. Bullion is defined in Minnesota Statutes §80G.01, subd. 2 and means any coin containing more than one percent by weight of silver, gold platinum, or other.precious metal.
Minnesota’s law has shut down ALL COIN BUSINESS in its state, even rare collector coins. When I warn that readers should buy COINS rather than BULLION, I am deeply concerned about this hunt for money. Governments are DEAD BROKE and instead of reforming, they are without question sending us in the direction of COMMUNISM and/or a pure DARK AGE. They are destroying the world economy so rapidly all because of this Marxist theory. This is not a joke.
I do not need to make up wild stories about hyperinflation, missing gold in Fort Knox or how futures (paper gold) suppresses the price. This is all total garbage. We face SERIOUS DEFLATION which is the kind that destroys society. They will not go quietly or gentle into the dying light printing money in a happy-go-lucky manner. Government will rage against the dying of the light and destroy civilization if we do not wake the hell up. Instead of telling people not to read me because you are trying to influence them to make your gold rise, you better start grasping what is really going on here before there is nothing left to fight for.
Dylan Thomas, 1914 - 1953
Do not go gentle into that good night,
Old age should burn and rave at close of day;
Rage, rage against the dying of the light.
Old age should burn and rave at close of day;
Rage, rage against the dying of the light.
The Currency Illusion
QUESTION: I want to share a true story with you.
My father as a young boy in Greece saw what gold did for his family.
My grandfather in Greece in the late 30′s and 40′s saw the rapid devaluation
happening to the drachma. English sovereigns were plentiful
there at the time as a sort of duo currency.
As you can probably figure out he was converting any of his cash to gold
sovereigns.
My grandfather in Greece in the late 30′s and 40′s saw the rapid devaluation
happening to the drachma. English sovereigns were plentiful
there at the time as a sort of duo currency.
As you can probably figure out he was converting any of his cash to gold
sovereigns.
My question to you is why do you protect the American dollar
and not the people of the world from the rapid devaluation
of their savings.
and not the people of the world from the rapid devaluation
of their savings.
ANSWER: This is the entire problem with currency – people do not truly understand it and attribute to a single object value that does not truly exist. You can“think” it was gold that rose, but was it simply that the Drachma declined? The difference is critical. If ONLY gold rose then what you say would be correct. But ifEVERYTHING rose in drachma, you are wrong.
During the 1970s, I always bought German cars. A Porsche cost me $10,000 in 1970 and by 1980 it was $50,000. To this day, the Italian Ferrari is bought and held as an “investment” because people CONFUSE currency with the object. Is it really a Ferrari that is rising in value or is it currency? When the pound crashed into 1985, a 328 Ferrari, which was a £32,000 car when the pound was US$2.40 fell to about $32,000 when the pound dropped to US$1.03. I bought a Ferrari in London and drove it around for two years there. Because the pound crashed, the Italians raised the price to £60,000, which was on par for what the car cost in the USA. But the pound rallied back to nearly $2 and after driving it for 2 years, I sold it for twice the dollars I had paid. Did I make money on the Ferrari? Or was I just playing foreign exchange? It was currency not the car. I could tell my posterity the same story without the currency and say Ferrari is the best investment ever. However, that would be just an illusion.
It was not that gold alone rose in value during the 1930s you are calculating in drachma. The drachma declined and thus everything in pounds or dollars rose proportionately. This is true of gold in the 1970s as well. If we look at gold in Swiss francs, it rose from 811 francs to 32100 between January 1970 and December 1979 or about a 395% advance. In dollars, gold moved from $35 to $521 or about 1488%. In REAL terms, gold rallied only from $35 to about $140 in 1970 dollars. The difference between $521 and $140 was currency. This is why gold fell for 19 years into 1999.
The dollar bottomed in 1995 against the drachma as it did against the Japanese yen at that time. However, gold declined during this period into its final low in 1999.
If you want to argue about investments, do not be fooled by the currency illusion. Gold bottomed in dollars in 1999, yet in Swiss it was 2000. This is why we have the intraday high in 2011 and the highest annual closing in dollars in 2012.
Make sure whatever the investment might be that you understand what you are really doing. I can document profits in driving a Ferrari. But was it really a Ferrari I made money on or was it the currency?