tag:blogger.com,1999:blog-4490468598422095060.post583091312039762905..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Debtors v. Savers III - Back to "honest" gold money? Or forward on to Freegold?FOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger38125tag:blogger.com,1999:blog-4490468598422095060.post-74314458266892444842010-07-19T11:22:04.496-07:002010-07-19T11:22:04.496-07:00@Costata
You really think no laws were broken?
T...@Costata<br /><br />You really think no laws were broken?<br /><br />Trust me, there were.<br /><br />And if there is a general uprising, those laws will be enforced.<br /><br />Remember: The Nazis had the law on their side. Didn't work out too well for them despite that.<br /><br />http://www.youtube.com/watch?v=SiXNUaSjXRY&feature=relatedDave Narbyhttps://www.blogger.com/profile/10773693145577366704noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-670827024059902452010-07-18T23:31:47.910-07:002010-07-18T23:31:47.910-07:00Dave Narby,
"Step eleven: Spend the rest of ...Dave Narby,<br /><br />"Step eleven: Spend the rest of your days on the lam when the scam is discovered."<br /><br />Not when the game is technically legal and you own the regulators as well as the politicians.costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-65199038236756791772010-07-18T21:57:03.115-07:002010-07-18T21:57:03.115-07:00I think I just had an epiphany.
Step one: Remove...I think I just had an epiphany.<br /><br />Step one: Remove gold backing from money.<br /><br /><br />Step two: Sell gold like crazy until all the weak hands capitulate, driving gold down to absurd valuations<br /><br /><br />Step three: Convince the public gold is "just another commodity".<br /><br /><br />Step four: Create a paper gold market.<br /><br /><br />Step five: Create Dave Narbyhttps://www.blogger.com/profile/10773693145577366704noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-5973853964143249452010-07-18T09:21:02.586-07:002010-07-18T09:21:02.586-07:00I found a facebook fan page for FOFOA if anyone is...I found a facebook fan page for FOFOA if anyone is interested....<br /><br />http://www.facebook.com/home.php?#!/pages/FOFOA-FreeGold/128262770545174Mikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-90467235223449457572010-07-18T07:43:13.146-07:002010-07-18T07:43:13.146-07:00Ben Davies, another FreeGold convert?
See zerohedg...Ben Davies, another FreeGold convert?<br />See zerohedge article and the KingWorldNews interview.<br /><br /><br /><br />Hinde Capital's Ben Davies On The Gold Market <br />Submitted by Tyler Durden on 07/17/2010 15:22 -0500<br /><br />So what does Ben think the FV of gold is? "If I said gold is to be at 40% just in terms of US encumberment, you can argue for a case of $70-80 trillion&#Greyfox "It's the Debt, Stupid"https://www.blogger.com/profile/02320201468671472952noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-63001216104899038142010-07-17T09:33:03.638-07:002010-07-17T09:33:03.638-07:00costata thanks for the explanationcostata thanks for the explanationMikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-11427071560710796752010-07-17T06:12:54.500-07:002010-07-17T06:12:54.500-07:00Marc Faber says the fat lady (QE2) will sing this ...Marc Faber says the fat lady (QE2) will sing this coming September, prior to the elections.<br /><br /><br /><br />http://noir.bloomberg.com/avp/avp.htm?N=adviser&T=Faber%20Sees%20Fed%20Introducing%20%60Massive'%20Quantitative%20Easing&clipSRC=mms://media2.bloomberg.com/cache/vngguPxIaYKk.asfGreyfox "It's the Debt, Stupid"https://www.blogger.com/profile/02320201468671472952noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76693385126124539122010-07-16T16:29:39.491-07:002010-07-16T16:29:39.491-07:00Mike,
I've often wondered how the "mecha...Mike,<br /><br />I've often wondered how the "mechanics" of the Freegold market will operate.<br /><br />At my shrimp level I think Zach has it right.<br /><br />There are many ways that the transition to Freegold could be triggered. As Jim Rickards pointed out:<br /><br />If ANY credible buyer stands in the market and says "I will buy all available physical gold for a given costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-71716616264071078142010-07-16T08:17:58.257-07:002010-07-16T08:17:58.257-07:00thanks zach. i've been buying for 5+ years now...thanks zach. i've been buying for 5+ years now but i will admit i first started buying paper goldMikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-11779885819871048312010-07-16T07:11:06.431-07:002010-07-16T07:11:06.431-07:00Mike,
physical gold exchange = bullion dealers. ...Mike, <br /><br />physical gold exchange = bullion dealers. <br /><br />You exchange your cash for physical gold.<br /><br />http://palmettopreciousmetals.comUnknownhttps://www.blogger.com/profile/17409158273838080601noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-63210197031035972752010-07-16T06:16:04.584-07:002010-07-16T06:16:04.584-07:00i understand now Costata
do you mind giving me yo...i understand now Costata<br /><br />do you mind giving me your opinion on the following i had asked FOFOA.<br /><br />what do you think will happen when Gold hits 100% of the ECB reserves. Is it even possible? How much longer can the paper gold price rise before the BIS gets their wish of a physical only gold exchange? like for instance if the paper price of gold does fall to 0 since its a Mikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33268109792482511562010-07-16T03:27:24.138-07:002010-07-16T03:27:24.138-07:00By the way FOFOA even within a free gold regime mo...By the way FOFOA even within a free gold regime money would still be honest as compared to todays monetary system<br /><br />Except for the fact that governments can still tax the public by overprinting and diluting the claim that a citizen who holds X number of currency units has on the gold.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-8373382096136845182010-07-15T23:56:27.019-07:002010-07-15T23:56:27.019-07:00Thanks costata and angel eyes...
costata said...
...Thanks costata and angel eyes...<br /><br />costata said...<br />Try tricking one Indian gold owner out of their gold and you may succeed. Would the same trick work on 300 million Indians?<br /><br />haha, I was once on a Indian forum where we were discussing gold and one guy said<br /><br />"Indians will beg borrow or steal before they even think of selling their gold"<br /><br />So Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-14565806486545157962010-07-15T23:20:44.667-07:002010-07-15T23:20:44.667-07:00Mike,
"in this scenario it will be the same ...Mike,<br /><br /><i>"in this scenario it will be the same way some money is created today"</i><br /><br />I'm not talking about seignorage. I'm talking about gold as the wealth reserve, not a form of currency/money. For example under Freegold net international trade imbalances will be settled in gold or value equivalents.<br /><br />IMHO Canadians will learn from watching "costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33207114608587066832010-07-15T22:22:27.597-07:002010-07-15T22:22:27.597-07:00Geithners Desktop<a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/trichet/Geithner%20desktop.jpg" rel="nofollow">Geithners Desktop</a>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76280604037564593032010-07-15T21:53:55.398-07:002010-07-15T21:53:55.398-07:00Costata said:
"A standard implies that it is ...Costata said:<br /><i>"A standard implies that it is imposed or it is a convention versus a free market discipline."</i><br /><br />Indeed. Samix was<i> technically</i> correct, but as you point out, people can (and will) imply the wrong definition via their mental associations with the terms <i>'gold standard'</i> &<i> 'gold backed'</i>.<br /><br />Your definition Angel Eyeshttps://www.blogger.com/profile/07292792036696712295noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-155150180611875452010-07-15T21:23:50.187-07:002010-07-15T21:23:50.187-07:00in this scenario it will be the same way some mone...in this scenario it will be the same way some money is created today<br /><br />cost of nickel = Nickel $8.7332/lb<br />production cost of quarter = 1 cent<br />market value = 25 cent<br /><br />2500% markup<br /><br />pretty sure most don't care about this today<br /><br />what i am trying to say is if freegold does take place according to the BIS/ECB plan, the same people who didn't Mikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-11606588953543172052010-07-15T20:24:22.685-07:002010-07-15T20:24:22.685-07:00Greyfox,
“been raided heavily over the past seven...Greyfox,<br /><br /><i>“been raided heavily over the past seven weeks,” and indeed since February 26, “17.9 million ounces…have been withdrawn from the ETF by authorized participants.”</i><br /><br />And the authorized participants are ..... the custodians of the metal.<br /><br />http://solari.com/blog/?p=7162costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-16823551524753933852010-07-15T20:11:41.559-07:002010-07-15T20:11:41.559-07:00Mike,
I think we should look to A/FOA on this sco...Mike,<br /><br />I think we should look to A/FOA on this score.<br /><br />Like Australia, Canada has the ability to obtain gold reserves from within it's own borders. Potentially bad news for the gold miners (if they think a 100% mark-up* on their "product" is a bad deal).<br /><br />*Eg. Cost = $1,000 per gold ounce<br />Selling price to Gov = $2,000 per ounce<br />Market Value = costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-65164937778177267632010-07-15T16:06:15.349-07:002010-07-15T16:06:15.349-07:00costa
how would a country like canada do in freeg...costa<br /><br />how would a country like canada do in freegold. most citizens dont have gold and our country only has 3 tonnes.<br /><br />do you think they would nationalize the mines much like the US probably would?<br /><br />do you think that Canada's resources would help make things a bit better?Mikehttps://www.blogger.com/profile/17801046198211810990noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-38619469837740437272010-07-15T15:30:00.895-07:002010-07-15T15:30:00.895-07:00samix,
I broadly agree with Angel Eyes but if you...samix,<br /><br />I broadly agree with Angel Eyes but if you wanted to tighten up the definition you could rewrite your comment as follows:<br /><br />"so basically freegold is a <b>gold-based currency valuation system</b> (delete -standard-) where the currency is not tied to fixed amount of gold ?"<br /><br />"So basically if there is too much money printing then the (delete costatahttps://www.blogger.com/profile/17932860172715556937noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33151426756777020052010-07-15T13:40:52.857-07:002010-07-15T13:40:52.857-07:00Samix said:
"basically freegold is a gold st...Samix said:<br /><br /><i>"basically freegold is a gold standard where the currency is not tied to fixed amount of gold ?<br /><br />So basically if there is too much money printing then the amount of gold backing one unit of a currency will decrease and as governments do quantitative tightening the amount of gold backing a unit of currency will increase, am I getting it correct ?"</i><Angel Eyeshttps://www.blogger.com/profile/07292792036696712295noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-70116994571972635512010-07-15T09:27:31.671-07:002010-07-15T09:27:31.671-07:00Hopefully those that desire physical silver will s...Hopefully those that desire physical silver will sell SLV and buy the new Silver PHYS ETF, thereby increasing the drain on real silver verses unlimited paper. <br /><br /><br /><br />...SLV is “the main alternate source of storage” of silver and “which accounts for around 50% of world silver inventory”! Wow!<br /><br />Well, interestingly, he doesn’t get into that whole controversy about whether Greyfox "It's the Debt, Stupid"https://www.blogger.com/profile/02320201468671472952noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-62281453167864591832010-07-15T07:17:22.994-07:002010-07-15T07:17:22.994-07:00There is NO exit from "unusually accommodativ...There is NO exit from "unusually accommodative monetary policy" (QE1). FED-Speak = the first 3 Trillion didn't work so let's double-down and try again. After all, it's only printing-press Yankee dollars. The fat lady (QE2) is backstage warming-up. This supports Costata's view of a "floor-price" under gold.<br /><br /><br />Minutes of the Federal Open Market Greyfox "It's the Debt, Stupid"https://www.blogger.com/profile/02320201468671472952noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-34594150570941839942010-07-15T06:55:40.012-07:002010-07-15T06:55:40.012-07:00If paper-silver is deballed, paper-gold will follo...If paper-silver is deballed, paper-gold will follow shortly. Details of offering.<br /><br /><br /> Approximate date of commencement of proposed sale to the public:<br />As soon as practicable after the effective date of this Registration Statement. <br /><br />http://www.sec.gov/Archives/edgar/data/1494728/000104746910006332/a2199292zf-1.htm<br /><br />http://www.sec.gov/Archives/edgar/Greyfox "It's the Debt, Stupid"https://www.blogger.com/profile/02320201468671472952noreply@blogger.com