tag:blogger.com,1999:blog-4490468598422095060.post6949028618981468158..comments2024-03-17T07:55:12.096-07:00Comments on FOFOA: Reference Point: Gold - Update #2FOFOAhttp://www.blogger.com/profile/17152544684132776239noreply@blogger.comBlogger236125tag:blogger.com,1999:blog-4490468598422095060.post-80434929482473575582011-04-29T14:24:36.446-07:002011-04-29T14:24:36.446-07:00@Art:
It is very interesting (to me, that is) you...@Art:<br /><br />It is very interesting (to me, that is) you have to resort to plain old bashing of A/FOA's style. I thought you were all about substance (cogent arguments). Btw, I don't think FOFOA was around USAGOLD at that good old days of A/FOA (he said he discovered FOA's writing around 2k8); which means your statement is false..<br /><br />Why we don't have freegold now: Anonymoushttps://www.blogger.com/profile/14188884755984555808noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-89123078445541927432011-04-29T11:45:10.870-07:002011-04-29T11:45:10.870-07:00Gold, Gresham's Law and the Dong
By: Ben Trayn...Gold, Gresham's Law and the Dong<br />By: Ben Traynor | Thu, Apr 28, 2011<br /><br />What happens when people actively shun their official currency...?<br /><br />Governments are often tempted to live beyond their means. Today, that means national debts and quantitative easing. But a few hundred years ago, it meant debasing coinage.<br /><br />Silver and gold coins would be 'clipped' Tom Christoffelhttps://www.blogger.com/profile/18166322881623606382noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-8402804675422338842011-04-29T08:48:52.267-07:002011-04-29T08:48:52.267-07:00@Wejn
I know Another/FOA/FOFOA from their USAGold...@Wejn<br /><br />I know Another/FOA/FOFOA from their USAGold days when they used contrived English mistakes to give themselves an aura of foreign exoticism. this was long before you arrived on the scene.<br /><br />What I'm suggesting has never been done before. It's not any kind of a Gold Standard that's been tried before. The FLOATING gold-backing of currency has never been done Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-85837685472911225342011-04-28T15:41:22.463-07:002011-04-28T15:41:22.463-07:00Art:
First off, please learn to use html tags ins...Art:<br /><br />First off, please <b>learn to use html tags</b> instead of SHOUTING VIA ALL-CAPS.<br /><br />Second off, all you said here has been said over and over again by people FOA called "hard money socialists".<br /><br />Gold standard did not work. It would be lovely (and best for all of us) if it did. But time and time again it was slowly but surely killed... by the will of Anonymoushttps://www.blogger.com/profile/14188884755984555808noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-54343200200438325522011-04-28T08:53:01.044-07:002011-04-28T08:53:01.044-07:00GOLD AS MONEY AND HOW IT CAN WORK: First of all, w...GOLD AS MONEY AND HOW IT CAN WORK: First of all, we accept and use gold and silver as money. We can then issue gold- and silver-backed currency to circulate alongside precious metal coins (currency to be issued by a national, non-private and non-profit banking institution so as to eliminate the potential for abuse and fraud). Let the market decide the ratio of gold to silver based on the Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-57969052502012546772011-04-28T03:13:01.576-07:002011-04-28T03:13:01.576-07:00Hi again, Art: Our concern is not only to save (in...Hi again, Art: <i>Our concern is not only to save (in gold) but to PREVENT fraud, financial calamities and economic DISASTER which can result in great wars and death and misery for untold millions. Why did Hitler come to power? At least in part because of economic problems caused by fiat money and its misuse.</i><br /><br />I agree. Unconstrained borrowing of fiat money causes massive problems.<DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-45247458416159963282011-04-27T22:06:36.295-07:002011-04-27T22:06:36.295-07:00Hi all, just dropping a post on hyperinflation tha...Hi all, just dropping a post on hyperinflation that, while it should be clear to everyone here, might help a few people fully visualize how we get into crisis - hope it is helpful to some folks and generates debate!<br /><br />http://seekingalpha.com/article/265701-the-economic-collapse-cycle-where-we-are-now-and-how-to-invest-accordingly<br /><br />For FOFOA - I remember being on your blog and Biting Silverbughttps://www.blogger.com/profile/13311302138899432364noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-3870015401879615662011-04-27T15:00:53.521-07:002011-04-27T15:00:53.521-07:00"Absolute confidence allows it to stretch out..."Absolute confidence allows it to stretch out in time as far as it wants." I have no idea what that or the rest of that paragraph means.<br /><br />I certainly agree about the corrosive effects of easy money emanating from the gov and Fed. The range of activities it incentivizes goes from fraud and corruption to no value added activities to low value added.<br /><br />Wouldn't it finitehttps://www.blogger.com/profile/02132494287190075501noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-45964396589942055922011-04-27T10:52:13.748-07:002011-04-27T10:52:13.748-07:00@MICHAEL H
YOU SAID:
"Art,
"'Hyp...@MICHAEL H<br /><br />YOU SAID:<br /><br /> "Art,<br /><br />"'Hyperinflationary events like the ones described by the FOA/FOFOA crowd are only possible IF we are using something other than money (gold and silver) as money so that those who control this fraudulent money can issue and use it without putting REAL wealth or money (gold and silver) at risk. '<br /><br />"Your Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-33517774816084811122011-04-27T10:27:24.237-07:002011-04-27T10:27:24.237-07:00@MUSEICE
YOU SAID: "Art: You said, "FRE...@MUSEICE<br /><br />YOU SAID: "Art: You said, "FREEGOLD sanctions the use of fiat or fraudulent currencies as money." What is fraudulent about a currency after Freegold?"<br /><br />MY ANSWER: 'Worthless tokens' are WORTHLESS before OR after Freegold. Money, by definition, is a store of value (in addition to being a medium of exchange and a unit of account). In Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-74257500061524142702011-04-27T10:25:26.928-07:002011-04-27T10:25:26.928-07:00This comment has been removed by the author.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-87612299797991061842011-04-27T10:19:41.515-07:002011-04-27T10:19:41.515-07:00Hi DP,
Our concern is not only to save (in gold) ...Hi DP,<br /><br />Our concern is not only to save (in gold) but to PREVENT fraud, financial calamities and economic DISASTER which can result in great wars and death and misery for untold millions. Why did Hitler come to power? At least in part because of economic problems caused by fiat money and its misuse.<br /><br />Fiat money is an abomination which destroys lives. It's a crime. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-37946359792226022332011-04-27T01:05:04.748-07:002011-04-27T01:05:04.748-07:00Art: Freegold says Use any worthless thing as mone...Art: <i>Freegold says Use any worthless thing as money but NOT gold</i><br /><br />Hello, Art. Freegold says to SAVE in an ASSET, not currency. Specifically, it picks out gold as the best asset to choose if you don't have some purpose that means you should pick something else; if it is for pure saving.<br /><br />Using gold as the currency results every time in economic constriction, DPhttps://www.blogger.com/profile/01965423353442076871noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-48689250431820726242011-04-26T22:16:47.470-07:002011-04-26T22:16:47.470-07:00Conclusion
The problem with FOFOA and his ilk is,...Conclusion<br /><br />The problem with FOFOA and his ilk is, even though they acknowledge that spending money that we don't have is wrong, they are dead set against the only thing that could prevent this aberration: the use of gold as money. Freegold says Use any worthless thing as money but NOT gold - even though only the use of gold (and silver) as money could prevent the issuers of fiat Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-16198726601019179252011-04-26T16:43:11.196-07:002011-04-26T16:43:11.196-07:00FOFOA says: “You see, this is where we are today....FOFOA says: “You see, this is where we are today. We are using, as a medium of exchange, a purely symbolic, completely worthless token. The logical action, then, is to exchange surplus worthless tokens for something of value. Yet still today, most everyone hoards up purely symbolic, completely worthless tokens in the form of the debt of more tokens to be worked off and paid by someone else.”<br Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-61596495864563999552011-04-26T16:42:04.602-07:002011-04-26T16:42:04.602-07:00FOFOA says: “...those worthless tokens are actual...FOFOA says: “...those worthless tokens are actually a good thing... what is better as a medium of exchange? Should it be something of value? Or is it more beneficial to the anti-entropic process for it to be something purely symbolic and worthless?...with a worthless medium, why not just exchange it for that same valuable thing if, in fact, you do produce more than you consume? Seems simple Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-76816449495774197942011-04-26T16:41:17.670-07:002011-04-26T16:41:17.670-07:00FOFOA propaganda: “One item alone, physical gold,...FOFOA propaganda: “One item alone, physical gold, because it is the main wealth asset behind the next currency system...”<br /><br />EXPLANATION: FOFOA and the BIRCs that he represents DO NOT support a gold-backed currency of the use of gold and silver as money. This is a false and misleading statement on his part.<br /><br />FOFOA propaganda: “You see, living with real serious price Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-17503383763286009682011-04-26T16:40:35.972-07:002011-04-26T16:40:35.972-07:00FOFOA propaganda: “A money system like this has a...FOFOA propaganda: “A money system like this has a definite timeline and that point is reached when the world can move away from keeping price inflation low in the US. That point is reached when Another money system comes along to challenge the dollar and, in the process, offer these other goods-producing countries a chance to buy some "lifestyle" for themselves...The dollar faction sawAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-50197848813361529942011-04-26T16:39:28.497-07:002011-04-26T16:39:28.497-07:00FOFOA propaganda: “The fact that the world had to...FOFOA propaganda: “The fact that the world had to walk, lock step, with our money policy meant that their goods production would almost always be cheaper than ours; keeping local US price inflation under control. In other words; local US-based price inflation could not get out of hand as long as the rest of the world was willing to use their economic production to control it by selling [productsAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-84764379732356264152011-04-26T16:27:41.201-07:002011-04-26T16:27:41.201-07:00FOFOA propaganda: "'The hit' [from d...FOFOA propaganda: "'The hit' [from deflation OR hyperinflation] can be socialized:<br />"'Human nature has followed this path for thousands of years. You know the old joke about outrunning the bear? Well, these lenders will influence our financial policy as such. They will try to get their debt securities liquefied first, spend the fiat and in this process outrun you and I.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44650097015462847582011-04-25T16:49:43.608-07:002011-04-25T16:49:43.608-07:00Woops, I think my correction needs a correction.
...Woops, I think my correction needs a correction.<br /><br />The correct math is obviously:<br /><br />168 / -0.5 = -336<br /><br />which does round to -340...<br /><br /><br />But I still don't understand: <br /><b>how do you get -34 years from -340?</b><br /><br />Thanks.<br /><br />(Instead of <i>dividing 168</i> by negative a half, I was incorrectly <i>multiplying 68</i> by negative a halfAnonymoushttps://www.blogger.com/profile/12521518788606716306noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-48703037354260054932011-04-22T07:12:37.465-07:002011-04-22T07:12:37.465-07:00Is it possible that gold's "monetary"...Is it possible that gold's "monetary" value will drop if the US decides to make this move?JONATHAN G. IIhttps://www.blogger.com/profile/07130657069963081080noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-44786419910296266772011-04-16T11:12:28.280-07:002011-04-16T11:12:28.280-07:00Hi DP, you said, "I no longer share your doub...Hi DP, you said, "I no longer share your doubt that Freegold will come."<br /><br />What are the odds your home will burn down in the coming year? 1 in 5000? Less if you don't smoke or fry a lot greasy foods? Yet you buy fire insurance to protect yourself from catastrophic loss.<br /><br />The odds that FreeGold won't happen are difficult to calculate, but they certainly much pipehttps://www.blogger.com/profile/05089975200066257716noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-88939168008898922792011-04-16T05:31:44.768-07:002011-04-16T05:31:44.768-07:00Blondie.
Yes that's exactly it! If "Sav...Blondie.<br /><br />Yes that's exactly it! If "Savings" is a company representing all excess work of humans past, present, and future, well there are only so many "shares" (ounces) available.<br /><br />They are only issuing about 2% more each year, and the float is very, very tiny.Texanhttps://www.blogger.com/profile/02676648339246724302noreply@blogger.comtag:blogger.com,1999:blog-4490468598422095060.post-75804165058531043682011-04-15T23:00:26.603-07:002011-04-15T23:00:26.603-07:00Victor
""Remember October 2008 and May ...Victor<br /><br />""Remember October 2008 and May 2010? What was not possible for several weeks because the inventory was gone on day one?"" <br /><br />Yes but even if they run out of inventory. That event in itself will have already halted the run and would have stopped the government from printing wheelbarrows of cash.<br /><br />At least that is how I understand it.matthttps://www.blogger.com/profile/17203617132116394286noreply@blogger.com