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Author Topic: This is the way the world ends  (Read 111092 times)

NuclearDruid

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Re: This is the way the world ends
« Reply #30 on: October 01, 2008, 09:24:37 am »

A world that uses honest money will find it much more difficult to concentrate wealth and power in the hands of very few, to maintain monstrous armies and weapons of mass destruction, to wage war, and to steal from the thrifty and the poor to give to the rich. 

I guess you're saying its easier for TPTB to intercept the electonic 1's and 0's than it is to send the exchequer around to each hovel to shake down the peasants for their silver coins. It's also much safer for the health of the exchequer!  ^_^

ND
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"GREAT COMEBACK FOR STOCK MARKET" - Front page, Spokane Daily Chronicle, October 22nd, 1929

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Silver

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Re: This is the way the world ends
« Reply #31 on: October 01, 2008, 10:27:28 am »

The power of paper money is that TPTB don't even need to send the tax collectors around.  Just inflate the currency, and wealth is transferred from savers and the poor into the control of the rich and powerful.  Wars can be funded without taxing the public for the full cost.  Its a gigantic money pump. Electronics aren't required, it works just as well for Zimbabwe dollars as for digital bits.  In fact, the Zimbabwe hyperinflation took a hit when the manufacturer of the paper refused to ship any more. Gold breaks this inflationary money pump; that's why governments hate gold.

Peace,

Silver
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gridboy

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Re: This is the way the world ends
« Reply #32 on: October 01, 2008, 10:37:49 am »

The power of paper money is that TPTB don't even need to send the tax collectors around.  Just inflate the currency, and wealth is transferred from savers and the poor into the control of the rich and powerful.  Wars can be funded without taxing the public for the full cost.  Its a gigantic money pump...

I was just thinking about inflation as a tax method.  Get rid of the IRS and just have a fixed printing of money
each year to fund the federal budget.  Government gets 100% tax compliance, no enforcement cost.
The Keynesians would love it, since it would provide a strong incentive to spend money, rather than hold on to it.

gridboy
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Silver

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Re: This is the way the world ends
« Reply #33 on: October 01, 2008, 12:08:08 pm »

Governments need both taxes and inflation.  Inflation is a blunt instrument, it robs everyone and gives only to those at the highest levels of power. Taxes can be directed by politicians; that is why the IRS code is so complex and contradictory.  Taxes are aimed at the most productive people, who might otherwise be smart enough to escape the worst ravages of inflation by keeping their wealth in assets.  Last but by no means least, taxes help keep the charade going.  Most people see that the government collects taxes and spends money; the "deficits" are explained away as "money we owe ourselves" or "covered by borrowing" or some other transparent lie.  If there were no taxes flowing in while money was spent, more people might start asking unwelcome questions about where money comes from.

Peace,

Silver
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purple kitty

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Re: This is the way the world ends
« Reply #34 on: October 01, 2008, 03:40:27 pm »

A very well off relative of mine is heavily invested in physical gold and silver, so I can confirm that some wealthy people are buying.  His eyes lit up when I told him I was also invested in silver and he learned that I shared his general opinion on the state of the nation.

But I gave him a scowl when he told me he had some of his metal in a safe deposit box.
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freewoman

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Re: This is the way the world ends
« Reply #35 on: October 01, 2008, 04:02:15 pm »

But I gave him a scowl when he told me he had some of his metal in a safe deposit box.

As well you should have!  But maybe the portion in the safe deposit box is his "sacrificial lamb"--if the Depression-era scenario is repeated, and gold and silver are once again confiscated, he could turn in the safe deposit box amount and claim to have given them his all.  Ya never know. . . .
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purple kitty

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Re: This is the way the world ends
« Reply #36 on: October 02, 2008, 02:48:46 pm »

But I gave him a scowl when he told me he had some of his metal in a safe deposit box.

As well you should have!  But maybe the portion in the safe deposit box is his "sacrificial lamb"--if the Depression-era scenario is repeated, and gold and silver are once again confiscated, he could turn in the safe deposit box amount and claim to have given them his all.  Ya never know. . . .
I don't think that's his plan... I did, however, convince someone this morning to remove all of her valuables from a safe deposit box (in a NationalCity bank).  She said it included *old* gold coins and nice jewelry.  I said, "I don't know what's going to happen, but there is always the possibility that deposit boxes will get seized if it gets really bad."  Finally *someone* listens to me!
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Bear

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Re: This is the way the world ends
« Reply #37 on: October 02, 2008, 03:09:35 pm »

Quote
I don't think that's his plan... I did, however, convince someone this morning to remove all of her valuables from a safe deposit box (in a NationalCity bank).  She said it included *old* gold coins and nice jewelry.  I said, "I don't know what's going to happen, but there is always the possibility that deposit boxes will get seized if it gets really bad."  Finally *someone* listens to me!

Good for you, Purple Kitty!

In several states, the State has been leaning on banks to uncover 'abandoned' safe deposit boxes so that the State can seize the contents. Only recently has the top finance guy in California said they have to knock that off and actually make sure the person is really gone first. There were a number of stories where people who had active accounts at a bank had their safe deposit boxes declared 'abandoned' because they had no record of them accessing them recently.

Even after proving that they weren't dead yet, they STILL had a problem getting their stuff back. Money get's put into the State's pocket, valuables get auctioned off.

Bear

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purple kitty

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Re: This is the way the world ends
« Reply #38 on: October 03, 2008, 06:48:21 am »

Ah, right, Bear.. I had forgotten about that story.. Do you happen to have a link handy from a reputable source?  I'll print the article and give to my friend and send it to my cousin and remind him to empty it.  I'm thinking the best source is from a major newspaper or well-known news site.

Nevermind... Found it.  I think this will work nicely.
« Last Edit: October 03, 2008, 06:54:36 am by purple kitty »
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Bear

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Re: This is the way the world ends
« Reply #39 on: October 03, 2008, 12:15:01 pm »


Thanks for finding the link, Purple Kitty. I just emailed it to all my
family and friends (who aren't on this forum). My guess is that
with the banks and State governments in a tightening financial
squeeze, this is going to increase, not stop.

Bear

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"There is no good idea so perfect, so pure,
that Government can't do it badly."
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Lisa Aenne

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Re: This is the way the world ends
« Reply #40 on: October 03, 2008, 02:43:49 pm »

http://finance.comcast.net/www/news.html?x=http://76.96.38.13/data/news/2008/10/03/1077698.xml

Do not fear, the House just voted to accept the Senate amended bill for the $700 Billion bail out---- the film industry in Puerto Rico and the makers of children's wooden arrows are in the clear.  I cannot say the same for the eyes of said children who use the arrows.

Quote
Treasury Secretary Henry Paulson pledged to begin using his new authority quickly, and Federal Reserve Chairman Ben Bernanke said the central bank would work closely with the administration.


 :BangHead:
« Last Edit: October 03, 2008, 02:45:57 pm by Lisa Aenne »
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spatter

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Re: This is the way the world ends
« Reply #41 on: October 03, 2008, 03:04:40 pm »

I had hoped, when the House voted the first bailout bill down, that it was the beginning of a non-violent revolution.  Once again my optimistic mind had succumbed to hope over experience.

I predict hyperinflation.  The revolution may not be non-violent.

Put your gold and silver in your underwear drawer and keep your powder dry.

Spatter
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It's the Government's job to print the money, deliver the mail and declare war. Now give me my cigarettes.

Florence King

spatter

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Re: This is the way the world ends
« Reply #42 on: October 03, 2008, 06:14:25 pm »

Apropos of this topic, I've ordered "It Can't Happen Here" by Sinclair Lewis (not a great book, but applicable) and "The Black Obelisk" by Erich Maria Remarque.  I used to have both...and may still, but most of my books are still in boxes and I need to reread these books NOW.

Might make sense to reread Eliot as well. 

I have a major fear of gas rationing.  Anybody else had these thoughts?

Spatter
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It's the Government's job to print the money, deliver the mail and declare war. Now give me my cigarettes.

Florence King

Nedda of the Hill

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Re: This is the way the world ends
« Reply #43 on: October 06, 2008, 02:58:12 pm »

http://money.cnn.com/2008/10/06/news/economy/fed_loans/index.htm

Fed pumps billions more into banks:
Central bank doubles to $300 billion the amount it will loan banks. Loans could reach $900 billion by end of year.
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da gooch

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Re: This is the way the world ends
« Reply #44 on: October 06, 2008, 03:34:07 pm »


{sound of seatbelt latch ....} CLICK
{he picks up his tinfoil and cardboard  Evil Ray Protection Shield}
Here we go kids ....  hang on !  :tinfoil:
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"Come and Take It"  Gonzales, Texas 1835

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