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Price Inflation Comes from Government, not from “Excuseflation” or “Greedflation” ...
The fault of inflation is not in business “monopoly,” or in union agitation, or in the hunches of speculators, or in the “greediness” of consumers; the fault is in the legalized counterfeiting operations of the government itself. For the government is the only institution in society with the power to counterfeit — to create new money. So long as it continues to use that power, we will continue to suffer from inflation, even unto a runaway inflation that will utterly destroy the currency.
Inflation, or whatever you want to call it, is nothing more than government taxation in stealth form. Only the government can conjure up new money from nothing, using it to bid away resources from private individuals.
For the government is the only institution in society with the power to counterfeit — to create new money.
The "creation" referenced in the Constitution refers specifically to specie, the only real money. Governments role is more in the realm of standardizing weights and measures, and even that is really still set by the market.
What I'm saying is there is not Constitutional provision that allows for mass printing, and only central bankers would want you to think there is.
Exactly, the Constitution is about the federal government overseeing the coining of money and to protect the public from counterfeit fraud. It was to establish standard currency to ensure free and legal interstate commerce.
you'll be able to buy a house for 10 ounces of gold, but you'll think twice about doing it, because you'll be buying a house in a war zone.
richwicks says
you'll be able to buy a house for 10 ounces of gold, but you'll think twice about doing it, because you'll be buying a house in a war zone.
I agree if the system collapses and the dollar goes to shit then we'll need lead more than silver and gold , and lots of lead in the form of 9 mm and 223 Remington. It will be based on bartering and also vital skills and supplies like food and potable water will be only valued.
Maybe when the system recovers, then gold could be used for currency.
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I agree if the system collapses and the dollar goes to shit then we'll need lead more than silver and gold , and lots of lead in the form of 9 mm and 223 Remington. It will be based on bartering and also vital skills and supplies like food and potable water will be only valued.
AD says
whats are the implications for those who own Silver Trust (ticker: SLV) ?
SLV is used to buy options to suppress the price if the material.
If every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year. It would break everything.
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
GNL says
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
Back in the days of film cameras, people could easily use 2 oz of silver per year.
But how many people are we talking about? Here, we're/Patrick is talking about over 300 million Americans.
GNL says
f every American just bought 2 ounces of silver per year, that would consume every available ounce mined in a year.
Back in the days of film cameras, people could easily use 2 oz of silver per year.
There's a lot of hurdles and you have to expose information, you can't just give a gold/silver dealer a few 1000 dollars and walk out.
Actually, just walk into a pawn/gold/silver shop lay down a couple grand and walk out with a hundred ounces of silver. If you buy more than $2,000 you don't have to pay taxes.
I'm doubtful of this. Why would a bunch of American oligarchs be on a ship from England to the United States?
The chair of the Council of Economic Advisers for President Biden has no idea how money printing and bonds work...
Holy moly we are in for an absolute train wreck, aren't we?
Watch one of the president's top economic advisors try and explain how money works. ...
Patrick says
Both.
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It seems that Fed employees know how to get rich betraying the public.