tag:blogger.com,1999:blog-4490468598422095060.post5404975791230592850..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Credibility InflationFOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger95125tag:blogger.com,1999:blog-4490468598422095060.post-10041609427099579222012-02-15T09:41:28.416-08:002012-02-15T09:41:28.416-08:00The credit expansion boom is built on the sands of...<i>The credit expansion boom is built on the sands of banknotes and deposits. It must collapse.</i><br /><br />sands → mirageDPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-10677854047484138822010-11-05T03:57:27.497-07:002010-11-05T03:57:27.497-07:00Hello Greg,
If I could recommend a post at this p...Hello Greg,<br /><br />If I could recommend a post at this point in your exploration it would be <a href="http://fofoa.blogspot.com/2010/07/debtors-and-savers.html" rel="nofollow">The Debtors and the Savers</a>. Enjoy. <br /><br />Sincerely,<br />FOFOAFOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-15986309752737628602010-11-05T03:13:08.667-07:002010-11-05T03:13:08.667-07:00I got to this post after reading your Hyperinflati...I got to this post after reading your Hyperinflation part I and I must say you are making me think.<br /><br />Your "two balloons" in your other post is an interesting twist and I think its interesting to note that those two balloons can easily be represented by numbers of people. There are 270 million in the debtor balloon and 30 million in the saver balloon. This isnt insignificant.<Greghttps://www.blogger.com/profile/03139782404004492965noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-61590421625366688062010-09-14T22:52:14.281-07:002010-09-14T22:52:14.281-07:00ANOTHER: Mr. Powell, In the time before us, China ...ANOTHER: Mr. Powell, In the time before us, China will trade in Europe with "great intensity"! As this trade develops, little use will be found for use of dollars in trade and little purpose for to devalue the yuan, except for the revenge against neighbor nations. A good purpose will be found to trade dollars for gold! The gold could be sold to ECB or gold could be held for reserve of Florehttps://www.blogger.com/profile/15450575455102575693noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-26774476109413635382010-09-08T13:19:02.474-07:002010-09-08T13:19:02.474-07:00freegold is closer it seems, the dollar losing its...freegold is closer it seems, the dollar losing its function.<br /><br />the best quote from the article is here....<br /><br />http://www.bloomberg.com/news/2010-09-08/china-russia-push-yuan-ruble-trading-to-diminish-dominance-of-u-s-dollar.html<br /><br /><i> Bhanu Baweja, global head of emerging markets fixed income, currency and credit research at UBS AG, said in a phone interview from London.Mikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-75645509457158283442010-09-03T20:53:32.364-07:002010-09-03T20:53:32.364-07:00FOFOA and you who comment here. I have learned so...FOFOA and you who comment here. I have learned so much about Au from you all, and I had already passed "Gold 101". Such a big and complicated subject Gold is.<br /><br />As I mention over at zerohedge.com, when money comes in (I have passive streams of income), some of that goes into physical gold.<br /><br />I suppose the fact that only, what, 3% of Americans have even held (or Robert Mixhttps://www.blogger.com/profile/12141824576251526483noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-68983407874319873042010-09-03T10:31:37.884-07:002010-09-03T10:31:37.884-07:00I meant to say:
P.S Did they truck Browns sold g...I meant to say: <br /><br />P.S Did they truck Browns sold gold out to the buyers? or is the treasury still looking after the gold for whoever bought it ala IMF style?!ebikeguruhttps://www.blogger.com/profile/09287545925693281736noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-37317288866791833172010-09-03T10:29:06.000-07:002010-09-03T10:29:06.000-07:00Hi FOFOA and all.
I bought my first Queen Elizabe...Hi FOFOA and all.<br /><br />I bought my first Queen Elizabeth II Sovereign today. It is now sat next to my Vreneli. St.George and Vreni would have made a good pair...haha Now I have two gold coins, I just noticed the different noise they make clinking together. I like. <br /><br />I was hoping the year of my QEII would be the same as Browns Bottom so googled it...alas not 1982 when mine was madeebikeguruhttps://www.blogger.com/profile/09287545925693281736noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-49373703742454455642010-09-03T09:44:58.211-07:002010-09-03T09:44:58.211-07:00wow! I enjoyed the gold action at comex today!wow! I enjoyed the gold action at comex today!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-944122350989628082010-09-02T23:40:51.111-07:002010-09-02T23:40:51.111-07:00@Pete
Sorry, I never seem to be able to get all m...@Pete<br /><br />Sorry, I never seem to be able to get all my thoughts in a single post!<br /><br />To address your valid point -<br /><br />"Surely less gold in the system will translate to a higher value of gold? Just as twice as much gold in the system would translate to a lower value of gold?"<br /><br />This is true where commodities can actually leave the system, by being consumedPaul Ihttps://www.blogger.com/profile/02325303090649114859noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-30476250838379030332010-09-02T23:36:26.051-07:002010-09-02T23:36:26.051-07:00@Paul
Another great response thanks Paul, it seem...@Paul<br /><br />Another great response thanks Paul, it seems to make more sense now.<br /><br />I think that hoarded gold would really be storing the 'value' of the product/service it was exchanged for - meaning that for hoarding to even occur, an entity must either sell their assets in exchange for gold (which would depreciate the value of the assets if they were sold en masse and Petehttps://www.blogger.com/profile/13424744710145557605noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44702962025028696842010-09-02T23:36:24.870-07:002010-09-02T23:36:24.870-07:00@Paul
Another great response thanks Paul, it seem...@Paul<br /><br />Another great response thanks Paul, it seems to make more sense now.<br /><br />I think that hoarded gold would really be storing the 'value' of the product/service it was exchanged for - meaning that for hoarding to even occur, an entity must either sell their assets in exchange for gold (which would depreciate the value of the assets if they were sold en masse and Petehttps://www.blogger.com/profile/13424744710145557605noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-39137779903058493242010-09-02T23:34:14.859-07:002010-09-02T23:34:14.859-07:00Bill Bonner reckons the current price of Gold is f...Bill Bonner reckons the current price of Gold is fair value...<br /><br />Quote ;<br />The only reliable bull market of the last ten years has been in gold. The yellow metal lost $2 yesterday, closing at $1,248. That is only $14 below its all-time high. Which means, while we've been watching Bernanke, Jackson Hole, and stocks - gold has been quietly creeping up...<br /><br />.stocks go down; dojufitzhttps://www.blogger.com/profile/08342573668079769637noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-86633171506584567732010-09-02T23:34:11.337-07:002010-09-02T23:34:11.337-07:00Bill Bonner reckons the current price of Gold is f...Bill Bonner reckons the current price of Gold is fair value...<br /><br />Quote ;<br />The only reliable bull market of the last ten years has been in gold. The yellow metal lost $2 yesterday, closing at $1,248. That is only $14 below its all-time high. Which means, while we've been watching Bernanke, Jackson Hole, and stocks - gold has been quietly creeping up...<br /><br />.stocks go down; dojufitzhttps://www.blogger.com/profile/08342573668079769637noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76259811797375529302010-09-02T22:52:46.543-07:002010-09-02T22:52:46.543-07:00@Pete
The ratio of traded gold to hoarded gold is...@Pete<br /><br />The ratio of traded gold to hoarded gold is very small. This is because the price is kept artificially low. If you tried to buy 100 tonnes of gold at $1250 you would not be able to. If the price was higher, then the ratio of traded gold to hoarded gold would also be higher.<br /><br />Now image a price at which traded gold balanced hoarded gold. People and governments could Paul Ihttps://www.blogger.com/profile/02325303090649114859noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-67538421492179060622010-09-02T20:59:56.295-07:002010-09-02T20:59:56.295-07:00@Paul
Good response there Paul.
I definitely agr...@Paul<br /><br />Good response there Paul.<br /><br />I definitely agree that our current system is a lot worse than Freegold for price manipulation and potential loss of savings.<br /><br />But I don't quite understand the notion that hoarding would not restrict supply. I'm saying, what if Bill Gates decided to buy up as much gold as he could, continually. He never releases this gold to Petehttps://www.blogger.com/profile/13424744710145557605noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-84482367358403358342010-09-02T16:49:38.431-07:002010-09-02T16:49:38.431-07:00@Pete cont.
Although what you describe could pote...@Pete cont.<br /><br />Although what you describe could potentially happen with silver....Paul Ihttps://www.blogger.com/profile/02325303090649114859noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-56914884962882649732010-09-02T16:42:02.030-07:002010-09-02T16:42:02.030-07:00@Pete
Interesting scenario. Losing 5yrs of saving...@Pete<br /><br />Interesting scenario. Losing 5yrs of savings value in a short period of time would be gut wrenching. As I'm sure it has been for all those many many savers to whom it has just happened. Many people have just discovered that their savings held in what they believed to be secure assets, were far from it. So yes it does happen.<br /><br />I would argue, however, that it would bePaul Ihttps://www.blogger.com/profile/02325303090649114859noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-9197980570037700112010-09-02T14:43:38.336-07:002010-09-02T14:43:38.336-07:00another head fake by those smart Chinese guys
htt...another head fake by those smart Chinese guys<br /><br />http://www.bloomberg.com/news/2010-09-01/pboc-researcher-says-gold-may-slump-on-central-bank-selling-news-reports.htmlMikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-83889947056263890502010-09-02T10:36:32.911-07:002010-09-02T10:36:32.911-07:00Another great post that took time to write and exp...Another great post that took time to write and explain how things work in banker's world.<br /><br />But eventually their fraudulent activity and manipulation ends when public demands physical money (gold and silver) instead of fiat money.<br /><br />Sep 2010 will be very interesting if price of silver breaks $20 and Comex has to deliver 15.01 million ounces of silver.<br /><br />Current Unknownhttps://www.blogger.com/profile/13773192022907974853noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-53790870104622879902010-09-02T05:59:43.070-07:002010-09-02T05:59:43.070-07:00Excellent post, FOFOA.
Has anyone brought this po...Excellent post, FOFOA.<br /><br />Has anyone brought this post to the attention of Karl Denninger? It seems like a perfect answer to his "gold isn't going to go up because the inflation already happened" argument, from his debate in May/June with Gordon Gekko.<br /><br />http://market-ticker.org/akcs-www?singlepost=2139375<br /><br />His words:<br /><br />"Those who are lookingMichael Hhttps://www.blogger.com/profile/08900572113023618278noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-87950726532093124672010-09-02T04:19:51.149-07:002010-09-02T04:19:51.149-07:00@Blonie: yes we can agree to that definition!
@so...@Blonie: yes we can agree to that definition!<br /><br />@sobione, that's what the Bretton woods agreement states that is why.<br /><br />Know that Nixon has not closed the gold window shut officially, The united states has only suspended the conversion of dollars to gold.<br /><br />Though even I am now thinking why don't they re-evaluate their gold, I guess somewhere in the previous Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-88487249681593563772010-09-02T03:59:56.754-07:002010-09-02T03:59:56.754-07:00Hi guys
Help is needed with one question: why US c...Hi guys<br />Help is needed with one question: why US cant change to float the value of their gold on month/month or quarter/quarter basis (like ECB does)? Why do they keep gold on their books at fixed rate (some silly 42 bucks/ounce)?<br /><br />Take caresobionehttps://www.blogger.com/profile/05903218447565183634noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33786574624867804152010-09-01T18:01:10.756-07:002010-09-01T18:01:10.756-07:00A thought:
What if the world adopts Freegold. Gol...A thought:<br /><br />What if the world adopts Freegold. Gold will be worth whatever the market will exchange for it, excellent.<br /><br />Won't this carry with it the potential for the big players to manipulate currency?<br /><br />For instance, lets say I get paid an equivalent of 1oz of gold per year wages. Then some of the big players in the market decide to hoard gold, restricting the Petehttps://www.blogger.com/profile/13424744710145557605noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-10947893900608002162010-09-01T03:01:38.085-07:002010-09-01T03:01:38.085-07:00Well, I'm glad I persevered with getting my la...Well, I'm glad I persevered with getting my last comment posted; it seems to have sparked some thoughts.<br /><br />samix,<br />Yes, you put your point across, and JR quickly saw the misunderstanding between us. My apologies, I had thought that I had implied that an unbacked currency would not also be regarded as a store of wealth. I should have stated it outright in the last post. In any 1.618https://www.blogger.com/profile/06506731982022036573noreply@blogger.com