tag:blogger.com,1999:blog-4490468598422095060.post5475528226990883522..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Your Own, Personal, FreegoldFOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger50125tag:blogger.com,1999:blog-4490468598422095060.post-78664803030929227592010-06-23T11:41:07.557-07:002010-06-23T11:41:07.557-07:00my 2 cents
FOA:
"I am going to travel for a ...my 2 cents<br /><br />FOA:<br />"I am going to travel for a while and watch the trail from a distance. It won't be long before the rains come and the ground begins to open; in that time I will return. Until then; this farmer will rest from this work."<br /><br />Perhaps rains = not weather but "a heavy fall = a rain of arrows <br /><br />ground = perhaps groundswell = a rapid Wendyhttps://www.blogger.com/profile/17448815628676884529noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-82298177796640867722009-10-17T23:25:30.797-07:002009-10-17T23:25:30.797-07:00Hello aleph0,
"How do you know gold will unt...Hello aleph0,<br /><br />"How do you know gold will untie itself soon? Does this have anything to do with the loss of confidence in the US dollar?"<br /><br />Yes, it does. <br /><br />Please read my two newer posts, and they should answer your questions. If not, please ask again. :)<br /><br />Sincerely,<br />FOFOAFOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-5064095294133547332009-10-17T23:20:57.879-07:002009-10-17T23:20:57.879-07:00FOFOA,
Excellent article!
If I may, I would like...FOFOA,<br /><br />Excellent article!<br /><br />If I may, I would like to understand better one part of the argument. You said:<br /><br /><b>Again, as long as gold is tied into a money credit system - as the dollar reserve still tries to do - its value will be subjugated by the credit inflating needs of society. In this function, gold cannot be saved as a "wealth asset" that measures aleph0noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-12983589419298489742009-10-15T08:50:28.688-07:002009-10-15T08:50:28.688-07:00Banking is not production. Resources spent on bank...<i> Banking is not production. Resources spent on banking is a waste of human progression. Think of all the talent that went to work for GS that could have been deployed at science research labs or into medical care.</i> <br /><br />Only to a certain extend. In a specialized society were people lend each other money (invest), someone could fulfill the role of judging what to lend to whom and Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-13090797982027281552009-10-15T06:37:33.460-07:002009-10-15T06:37:33.460-07:00Fofoa,
One more key point about the government i...Fofoa, <br /><br />One more key point about the government issuing new money when it needed to expand the money supply. It would do this without borrowing and without going in debt!!!!! Not more wasted tax dollars on interest.Unknownhttps://www.blogger.com/profile/13269067908292874746noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-7172007839902080242009-10-15T06:34:43.473-07:002009-10-15T06:34:43.473-07:00Fofoa,
"...Or are you saying that the 100% ...Fofoa, <br /><br />"...Or are you saying that the 100% reserves are fiat base money? In that case it could work, and I could see how something like this would evolve when and if the Fed is abolished. <br /><br />The government would issue new base money to fund itself and this would expand the money supply and allow for public credit issuance. This could even be done in lieu of an income taxUnknownhttps://www.blogger.com/profile/13269067908292874746noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-45195390339664165692009-10-15T04:06:22.536-07:002009-10-15T04:06:22.536-07:00That is a solid argument, thanks for reminding.That is a solid argument, thanks for reminding.Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-11295239541504405432009-10-15T02:30:01.663-07:002009-10-15T02:30:01.663-07:00Martijn,
It is an economically Darwinian feature ...Martijn,<br /><br />It is an economically Darwinian feature of evolution that drives BIG money to safety when threatened.<br /><br />No I don't have that kind of money. But it was precisely this trait that directed me to the golden path less than two years ago. So I do know something of what I speak.<br /><br />Again, it is the giants that will drive this bus. Not all the morons and FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-51746077049605821302009-10-15T02:19:10.664-07:002009-10-15T02:19:10.664-07:00Smiley
Perhaps freegold really is as easy as that...Smiley<br /><br />Perhaps freegold really is as easy as that Fofoa, perhaps it is. <br /><br />Logically I do agree with you. My main point is however that even though logic prescribes freegold, mass psychology to me does not always seem logic. Perhaps the human brain is the true barbaric relic in the equation. After all it was designed for circumstances substantiating millions of years ago and Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-81844410343692558262009-10-15T02:06:32.824-07:002009-10-15T02:06:32.824-07:00Martijn,
Peter Schiff wrote about the threat of t...Martijn,<br /><br />Peter Schiff wrote about the threat of the floating Rinminbi in his 2007 book, Crash Proof. It is definitely a threat to the dollar and the US. Not so much to gold.<br /><br />Perfection is not required to see that the tide will come in tomorrow, or that the sun will rise.<br /><br />Sincerely,<br />FOFOAFOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-43755902163540943362009-10-14T23:37:13.305-07:002009-10-14T23:37:13.305-07:00Fofoa,
I do not actively believe that your view ...Fofoa, <br /><br />I do not actively believe that your view is limited, on the contrary. I do however continue to search for what I have missed, as I simply believe no one is perfect. Until now I did not consider a floating Renminbi too much, hence my question. That's all.Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-5262619381747771702009-10-14T18:45:26.187-07:002009-10-14T18:45:26.187-07:00allen,
In fact a gold standard is in many ways at...allen,<br /><br />In fact a gold standard is in many ways at heart a 100% fractional reserve system that alots for creeping growth. Kind of a dirty peg in other words. The banks would neve go for this just like they have managed to subvert derivatives reform. The banks will always claim that it stifles innovation and restricts growth. And isnt that what the Fed is there for - down 10,000 and all.SDRIInoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33133508585174673992009-10-14T16:46:08.989-07:002009-10-14T16:46:08.989-07:00Hello Allen,
I think the "rape" of the ...Hello Allen,<br /><br />I think the "rape" of the general public comes from "saving" that which is used for credit issuance. Credit does require an expanding money supply. How does your book say that this will be accomplished in a 100% reserve structure? Or are you saying that the 100% reserves are <i>fiat base money</i>? In that case it could work, and I could see how FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-60702760228450707812009-10-14T15:52:19.012-07:002009-10-14T15:52:19.012-07:00After reading the book "The Lost Science of M...After reading the book "The Lost Science of Money" by Stephen Zarlenga I have a totally different view on the solution to the problem. I have to agree with the author, that money creation should be a matter of law handled by the government, maybe a fourth branch. I know a lot of people gasp at this concept. I, for one, am totally against big government, but this is one area where Unknownhttps://www.blogger.com/profile/13269067908292874746noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-8570459590736620152009-10-14T15:42:50.408-07:002009-10-14T15:42:50.408-07:00Fofoa,
We should never try to convince ourselves ...Fofoa,<br /><br />We should never try to convince ourselves of being right, but always be on the lookout for being wrong.<br /><br />To me a flight into the Renminbi is the one scenario in were those heavily invested in gold might loose a great deal of their wealth.<br /><br />Not saying it will happen, but if I had to list one, that would be it.Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-70051271575959297492009-10-14T15:38:32.614-07:002009-10-14T15:38:32.614-07:00The renminbi is as intrinsically worthless as the ...<i>The renminbi is as intrinsically worthless as the dollar. Your argument seems to be that people will be smart enough to see the dollar is worthless, but stupid enough to save the renminbi?</i> <br /><br />My argument is that people may be smart enough to start running, but stupid enough not to look were the are going.<br /><br />Panic situations often create those actions, and not many people Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-78418943500884316432009-10-14T15:34:26.177-07:002009-10-14T15:34:26.177-07:00Hello Martijn,
I may post something shortly in wh...Hello Martijn,<br /><br />I may post something shortly in which I wrote a little about the renminbi. It should answer your question. But don't confuse a great value as a modern transactional medium with a horrible value as a store of wealth. The renminbi is as intrinsically worthless as the dollar. Your argument seems to be that people will be smart enough to see the dollar is worthless, FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76930641031662587082009-10-14T15:21:04.614-07:002009-10-14T15:21:04.614-07:00Fofoa,
Important question in my opinion: what abo...Fofoa,<br /><br />Important question in my opinion: what about the Renminbi?<br /><br />People are looking for safety. At this moment it is extremely difficult to obtain the Chinese currency (Yuan/Renminbi), and it is artificially pegged to the dollar. That situation is however destined to change. Someday (soon) the Renminbi will float and might even be widely available. Would that not provide a Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-65900688825161907292009-10-14T10:41:50.179-07:002009-10-14T10:41:50.179-07:00Just think, you too can have 4.8 tons of gold deli...Just think, you too can have 4.8 tons of gold delivered to your garage for just about 250 bucks. Looks impressive, I bought a Mona Lisa a couple weeks ago and got a better deal! ;)<br /><br />By the way, whatever happened to China defaulting on derivatives with 6 foreign banks? Anyone been following that? <br /><br />Coin in hand, means settlement has already occurred, thus no loses in Enderhttps://www.blogger.com/profile/11823932849020536252noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-25519062906755835202009-10-13T21:30:20.755-07:002009-10-13T21:30:20.755-07:00alek, i'm seeing it a bit differently. Two sc...alek, i'm seeing it a bit differently. Two scenarios: what we see, and the assumption that the back palate is the same as the first. <br /><br />In the former case, we have 16 rows of 12 (as each 4th row is an inverted row). that would give us 192 bars in the front, and 16 rows of 4 bars in the back, totally 64, equaling 256. that's just what we can see in the pic. <br /><br />If we SatyaPranavahttps://www.blogger.com/profile/02422604006082536504noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-68252826459476677442009-10-13T13:45:41.305-07:002009-10-13T13:45:41.305-07:00Hi Michael,
Thank you for the compliment. FOA is...Hi Michael,<br /><br />Thank you for the compliment. FOA <i>is</i> my Trail Guide. I am a follower more than a friend. Although I would love to meet this man and become his friend! :) Where the heck is he? Surely it is raining now. Sir Douglas, where are you? I will gladly step aside if you should return. <br /><br />Again, thank you for the grand compliment Michael!<br /><br />FOFOAFOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-51348158071767459562009-10-13T13:26:20.849-07:002009-10-13T13:26:20.849-07:00Thanks Alek for the math.
Actually that picture c...Thanks Alek for the math.<br /><br />Actually that picture comes from a website that makes covers to pimp out your garage.<br /><br /><a href="http://www.style-your-garage.com/" rel="nofollow">http://www.style-your-garage.com/</a> <br /><br /><i>"The days of boring garage doors are numbered! That’s because there are now photo tarpaulins for garage doors from style-your-garage.com!<br /><br /FOFOAhttps://www.blogger.com/profile/17152544684132776239noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-31139765795805300102009-10-13T12:53:55.893-07:002009-10-13T12:53:55.893-07:00@FOFOA
Re: "I am confused by this: "If y...@FOFOA<br />Re: "I am confused by this: "If you wish, you may go by the handle FOA2 or something akin to that."<br /><br />Do you not like my current handle? Or are you trying to offer me a promotion?"<br /><br />Yes, twas a compliment.<br />While you're the most qualified person I have seen to take up the freegoldian Another lineage, a "promotion" could hardly MichaelBnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-34334674400349642312009-10-13T11:42:20.702-07:002009-10-13T11:42:20.702-07:00I see at least ((12x3)x4)x2=288 bars. This is assu...I see at least ((12x3)x4)x2=288 bars. This is assuming they are stacked 1 deep per pallet (not possible to see from the image).<br /><br />At current prices, this is somewhat over $120M of pure capital. This is IMO quite a good base (of course, Au is the best!) for a bank. I can imagine a multiplier of 10-20 from the gold capital to the market cap of such a bank in a freegold fiat system and thenalek_anoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-23136978242375811442009-10-13T11:41:50.199-07:002009-10-13T11:41:50.199-07:00martijn, are you suggesting that those in dollars ...<i>martijn, are you suggesting that those in dollars will be the ones who will be likely to be able to find physical metal (as their currency dropped first)? i'm not sure i fully understand wht you're suggesting. advantage for the dollar...why?</i> <br /><br />People holding dollars have the most reason to get out. And when you want to get out you might start condisering gold. People Martijnhttps://www.blogger.com/profile/10691085642452851905noreply@blogger.com