Remember Furbee, the doll that squaks and then when you put 2 of them together, they squak and carry-on a conversation with each other. Eric King interviews are like this, he interviews people just like himself. Maybe he should interview some silver critics as well to get some well rounded perspective on what the drivers of price are but more importantly, whats holding them down from a critics perspective. I called Fidelitrade, a local silver dealer in delaware, and they said that they have shitloads of silver in all forms. The hype is coming from both sides… but i do believe the commodity story on the basis of negative interest rates, easing and bad political leadership. However, i hate being BS’sd by over-zealous pundits.
Ive only read 2 pages of Currency Wars but there seems to be a paradox.
Rickards says Nixon went off the gold standard because of Vietnam war debt and then goes on to say going back to the gold standard is possibly in the future.
But the debt is worse now and whatever value gold is placed at as a monetary standard the US economy will still see the gold bleed out of the country as son as it is enforced as they are obviously falling behind no matter what happens now. It seems ot be an ‘Austrian’ view that everything would be alright if only there was a hard currency, but as well as every fiat currency before now failing, every gold standard has also failed. Gold standard is great if you’re a creditor but not so much if you’re a debtor. Especially if your pollies are the ones writing the rules and obviously dont give a toss what happens to 99%.
Anyway, it will be interesting to read the rest of the book.
paper money will be the new hard asset as money goes digital – i am theorizing. Some nordic nations are playing with the idea of having purely electronic money which would make holding dollars or some other currency like holding gold is today to conduct underground business.
The last several gold standards have not worked because the gold was fixed. The future gold standard will be free floating. (Governments can never maintain a FIXED gold standard because the temptation to print is just to0 great.)
If you think about it, we’re already on a free-floating gold standard. Everyday, the value of our currencies are being revalued compared to gold. However, in order for the U.S. to pay off all that debt, is if gold is allowed to revalue (upwards). This is good for debtors because the debt will be inflated away. Any savers that have their wealth in paper currency will lose out, since a really high priced gold means the American dollar is pretty much worthless.
Individuals owning gold will do fine though. 🙂
I won’t pretend to know what’s going on here.
What I do know:
“Thissss segmeeeeent it spooooonsssurrrrrrrdddd by…”
“Care to break that down for the listeners globally…”
Still waiting for someone to call Eric on his superhero voice.
there are 4 currencies. gold, guns, grain and girls. I do own gold; I am convinced on the mathematical and analytical factors affecting the price. However, there are a lot of physcological and political factors that can delay or even prevent such a revaluation from happening. By declaration of law; nations can do many things and in the western world, populations are falling which can mitigate some inflation. remember, americans are totally fat and eat too much and it will be a while before they starve, there are a lot of empty houses they can appease people by letting them live there etc. This is part of the gold model which is not being discussed and may explain why we are not at $10K yet. eventually physics wins out, but it may happen after were dead and not this decade. they can screw around a lot.
don’t forget gorgonzola, goliath grouper, gin, grapes and gak
Snoop. I don’t think there’s any paradox. I suspect that Rickards believes that the U.S., like most countries will have to default on its debt at some point. And then rather than begin the whole fraudulent game all over again you go to a gold standard.
@ Alex | December 1, 2011 at 12:10 am |
—Some nordic nations are playing with the idea of having purely electronic money —
as far as I know, its Sweden. And they are not playing with the idea, they`re ging to impose it by 2012 … and they also said, they would´nt mind at all if people would reject it … they would just DO it! 🙂 .. great! 😉
If you think, thats great, then get back into your cave! .. and do as your told by authority!
You might not like this at all ….. after all! 😉 but then it might be too late …. ? 🙁
Max and Stacy,
When are you going to interview Rickards? When is Ned Naylor Nealand coming back to the Keiser report?
Oh yes my digits, my precious, lol.
Somebody has got the answer to that currency.
Electromagnetic Pulse (EMP) Weapons
Iran does not need nuclear, they got EMP, what will you do when your iphone and your laptop go fizzle?
Thank goodness I know how to make diodes and vaccum tubes, and i have my silver to make all the connections.
Ahh 1930s what a time to be alive, think of how many pots of shoe sole soup the kardashian can make with there shoe collections.
“Once I built a railroad, I made it run
I made it race against time
Once I built a railroad, now it’s done
Brother, can you spare a dime?”
“As he roamed along
He sang a song
Of the land of milk and honey
Where a bum can stay
For many a day
And he won’t need any money”
“Were we deaf? Blind? If we didn’t know, it was because we didn’t want to know.”
But then a hero comes along …
So if max is our Clark Kent, where is the other persona, lol.
love and gratitude
thanks, end of the empire but not of the nation – makes sense.
Some of the creditors might like that gold before the US actually defaults though lol. Is it actually a default if your vaults are still full of gold or just something the one with the biggest weapons says is happening like in 1971?
Currency Wars – Max Keiser interviews James Rickards, Ep.208
The Capital Account, Jim Rickards interview today, took place in-studio this time, not remote as previously. Rickards discussed his Twitter war with Nouriel Roubini, among other current events. JR is one-smart-guy. Lauren Lyster kept full control.
Alyona gave no reasons to fault her show today. Tomorrow, The Alyona Show will be hosted by Kristine Frazao, can’t wait for that.