Gold is now a bad investment.

[alkemical]

Wait, i thought the stock market going up was good for us*.

[DenverBrit]

Originally Posted by BroncsRule

Dang, Gaff, you're slippin'.. for a conspiracy nut to be ignorant of the vast Reptoid Alien Base built under DIA..

Shameful!

http://diaconspiracyfiles.wordpress....rground-bases/

http://www.westword.com/2007-08-30/n...-take-off/full

Gaff is typical of the agenda driven monkeys.

Google is either a complete mystery to him, or he's too lazy to research anything that might prove him wrong.

[cutthemdown]

Well i never really had enough money for gold so i bought silver. I bought 100 ounces when it was 14 dollars an ounce. Pretty stoked about that. Wish I had bought more dammit!

[baja]

Originally Posted by cutthemdown

Well i never really had enough money for gold so i bought silver. I bought 100 ounces when it was 14 dollars an ounce. Pretty stoked about that. Wish I had bought more dammit!

I remember how you ridiculed me back then. Do you?

[cutthemdown]

Originally Posted by baja

I remember how you ridiculed me back then. Do you?

In fairness I did say it could hit 1000, maybe a bit more, but you said 2000 remember?

[cutthemdown]

Also anyone who bought that gold there could still be a bubble, silver better because it is used more in industry and has more real value then gold IMO.

[baja]

Originally Posted by cutthemdown

In fairness I did say it could hit 1000, maybe a bit more, but you said 2000 remember?

It wasn't the number you took issue with it was with my reasons for the rise in value, the concept and my credibility. You judged me without knowing much about. Just wrote me off as a kook.

As for the 2,000 mark it will hit that and far beyond before all is said and done.

Did you ever buy that cabin/land out East of you?

[loborugger]

This morning gold is up to 1486 while silver is at almost 43 bucks.

http://online.wsj.com/article/BT-CO-...15-702250.html

[alkemical]

I'm meeting with some people from Baltimore about starting a local currency here.

[loborugger]

Originally Posted by alkemical

I'm meeting with some people from Baltimore about starting a local currency here.

They have started those up in Michigan already.

[alkemical]

Originally Posted by loborugger

They have started those up in Michigan already.

Yep, i've been "researching" for about 9 months on this topic and am ready to start making it happen here.

I'm very excited. Is there anything like this where you live?

[alkemical]

http://mises.org/daily/5196/Utah-Rec...ns-to-Be-Money

Utah Recognizes Gold Coins to Be Money

The state of Utah has recently enacted a law by which the gold coins issued by the US Mint are to be considered money and, therefore, not subject to capital-gains taxation. The law does not apply to foreign-issued coins, such as South African Krugerrands, by far the most popular precious-metal coin in the world. Nor does the law apply to privately issued coins, such as the so-called Ron Paul Dollar. Capital gains on the US-issued coins would still be subject to federal taxation.

[mhgaffney]

Silver just climbed above $43/ounce.

Garcia Bronco will have to eat his shorts in public before this is over.

[baja]

Gold is $1,487 an ounce. Thanks for the heads up about Gold being a bad investment Garcia I almost bought some of the shiit. Tell me what's yur take on the Internet you thing it will ever amount to anything.

[loborugger]

Originally Posted by alkemical

Yep, i've been "researching" for about 9 months on this topic and am ready to start making it happen here.

I'm very excited. Is there anything like this where you live?

If there is, I havent heard about it. It seems that this local currency thing hits areas that having negative population growth as industry leaves, ie the rust belt.

What incentive do you provide to have people use the local currency vs the using Fed Reserve Notes? I assume they give a discount?

[loborugger]

Originally Posted by alkemical

http://mises.org/daily/5196/Utah-Rec...ns-to-Be-Money

Utah Recognizes Gold Coins to Be Money

The state of Utah has recently enacted a law by which the gold coins issued by the US Mint are to be considered money and, therefore, not subject to capital-gains taxation. The law does not apply to foreign-issued coins, such as South African Krugerrands, by far the most popular precious-metal coin in the world. Nor does the law apply to privately issued coins, such as the so-called Ron Paul Dollar. Capital gains on the US-issued coins would still be subject to federal taxation.

I have seen this. Its a nice idea and a nice political statement. However, as the saying goes "bad money drives good money into hiding." For example, why would I buy a 5 thousand dollar car with 5 grand worth of silver - which I know is gonna go up in value in the next five years - when I can pay for it in dollars - which I know are gonna lose value in the next five years?

[Arkie]

Originally Posted by loborugger

I have seen this. Its a nice idea and a nice political statement. However, as the saying goes "bad money drives good money into hiding." For example, why would I buy a 5 thousand dollar car with 5 grand worth of silver - which I know is gonna go up in value in the next five years - when I can pay for it in dollars - which I know are gonna lose value in the next five years?

I would spend the dollars if I had both dollars and silver for that very reason, but I probably wouldn't own dollars if silver were legal. The price of a car goes up every year in dollars, not silver. The same weight in silver buys the car because they both went up.

[baja]

What would $15,000 in silver at 1960 prices buy today.

You could buy a house for that in 1960.

[alkemical]

Originally Posted by loborugger

If there is, I havent heard about it. It seems that this local currency thing hits areas that having negative population growth as industry leaves, ie the rust belt.

What incentive do you provide to have people use the local currency vs the using Fed Reserve Notes? I assume they give a discount?

we will probably look @ the 'discount model' for how the culture is here. There are different models.

Baltimore's model might be the best fit for this area.

Incentives are not just $, but also community driven. It does help keep local $'s local.

[loborugger]

Originally Posted by alkemical

we will probably look @ the 'discount model' for how the culture is here. There are different models.

Baltimore's model might be the best fit for this area.

Incentives are not just $, but also community driven. It does help keep local $'s local.

Well, that only works if the community as a whole buys into the concept. I don't disagree with you. However, the idea of something 'being good for the community' is an esoteric and not tangible idea. Its hard to rally folks around that. Much easier to rally folks around the idea of "use this, pay less."

[orinjkrush]

wouldn't going back on the gold standard, state by state, in essence be the end of fiat currency and the fractional reserve system?? inquiring minds want to know!

[alkemical]

Originally Posted by loborugger

Well, that only works if the community as a whole buys into the concept. I don't disagree with you. However, the idea of something 'being good for the community' is an esoteric and not tangible idea. Its hard to rally folks around that. Much easier to rally folks around the idea of "use this, pay less."

that aspect has already been circulated, as i have ten local businesses ready for it. they are helping to back it to help stabalize a certain market. (b2b)

[loborugger]

Originally Posted by orinjkrush

wouldn't going back on the gold standard, state by state, in essence be the end of fiat currency and the fractional reserve system?? inquiring minds want to know!

I wouldnt think so. The US G still allows the Fed Res to issue our national currency. And again, it goes back to what I said a couple of posts ago, bad money drives good money into hiding. Few will pay with silver and gold that will only increase in value while the rest will pay with dollars which are only gonna decrease in value. But again, if it works as an education and exemplary tool, then I am all for it. I think our generation will have to learn what those who lived thru the revolution did... "a wagon full of money wont buy a wagon full of supplies."

[baja]

Originally Posted by orinjkrush

wouldn't going back on the gold standard, state by state, in essence be the end of fiat currency and the fractional reserve system?? inquiring minds want to know!

Only if everybody treats it like the worthless paper it really is.

[Arkie]

Originally Posted by alkemical

we will probably look @ the 'discount model' for how the culture is here. There are different models.

Baltimore's model might be the best fit for this area.

Incentives are not just $, but also community driven. It does help keep local $'s local.

The main incentive would be because of sound money with stable prices. Everybody will see the goods going up in Federal Reserve Notes, but they stay the same price in the local currency.