Financial Reserve

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dlbww
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Re: Financial Reserve

Post by dlbww »

This piece by Martin Armstrong suggests assets besides gold and silver may be a better hedge when this whole system goes down: https://www.armstrongeconomics.com/hist ... ellations/" onclick="window.open(this.href);return false;

Some of my financial reserves are in the equities market and I actively trade. Some have suggested this isn't wise and that the stock market is on the brink of collapse. I invest in commodities, banks, utility companies, mainly dividend paying stocks, etc. if all those things go to zero then the world has ended and we're back to trading food, seeds, ammunition and yes ... shovels.

Silver
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Re: Financial Reserve

Post by Silver »

dlbww wrote:This piece by Martin Armstrong suggests assets besides gold and silver may be a better hedge when this whole system goes down: https://www.armstrongeconomics.com/hist ... ellations/" onclick="window.open(this.href);return false;

Some of my financial reserves are in the equities market and I actively trade. Some have suggested this isn't wise and that the stock market is on the brink of collapse. I invest in commodities, banks, utility companies, mainly dividend paying stocks, etc. if all those things go to zero then the world has ended and we're back to trading food, seeds, ammunition and yes ... shovels.
I think you mean when all those things go to zero then the world has ended and we're back to trading food, seeds, ammunition and yes ... shovels.

Personally, I don't trade in stocks (or any paper/digital based) asset, but others may find it quite profitable. The Church's advice is a year of food storage. I've added a bit more to have some to share. If things are end of the world bad, then I guess we'll see if my target practice pays off.

I did like the brief history of coin debasement at the link you provided. The gubmint giveth and the gubmint taketh away.

Reminder to self: get some more shovels (and bury them so the gubmint won't confiscate them. Wait a sec, how am I going to fill in a hole with all my shovels at the bottom of the hole?)

brianj
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Re: Financial Reserve

Post by brianj »

Silver wrote:Reminder to self: get some more shovels (and bury them so the gubmint won't confiscate them. Wait a sec, how am I going to fill in a hole with all my shovels at the bottom of the hole?)
Simple! Bury them in the kids' sandbox in you backyard. A cheap shovel, a garden trowel, or even your hands will suffice to dig the good ones out!

tribrac
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Re: Financial Reserve

Post by tribrac »

Something in teh back of my mind is saying burying your treasures won't work....unless it is a sword.

Silver
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Re: Financial Reserve

Post by Silver »

India, the guinea pig

http://www.zerohedge.com/news/2017-01-1 ... ng-most-ca" onclick="window.open(this.href);return false;

Preface: Washington's Blog reached out to Dr. Haering after reading several excellent articles on India's cash ban. Dr. Haering then combined the information into a single article for us. We lightly edited the article for spelling and grammar.



By Norbert Haering, a German financial journalist, blogger and PhD economist, who received the 2007 getAbstract Best Business Book award and the 2014 prize of the German Keynes Society for economic journalism. His best-selling book (in German) “The abolition of cash and the consequences” was published in 2016. Originally published on norberthaering.de (http://norberthaering.de/en/home/27-ger ... e-in-india" onclick="window.open(this.href);return false;). Republished with permission of the author.

In early November, without warning, the Indian government declared the two largest denomination bills invalid, abolishing over 80 percent of circulating cash by value. Amidst all the commotion and outrage this caused, nobody seems to have taken note of the decisive role that Washington played in this. That is surprising, as Washington’s role has been disguised only very superficially.

U.S. President Barack Obama has declared the strategic partnership with India a priority of his foreign policy. China needs to be reined in. In the context of this partnership, the US government’s development agency USAID has negotiated cooperation agreements with the Indian ministry of finance. One of these has the declared goal to push back the use of cash in favor of digital payments in India and globally.

On November 8, Indian prime minster Narendra Modi announced that the two largest denominations of banknotes could not be used for payments any more with almost immediate effect. Owners could only recoup their value by putting them into a bank account before the short grace period expired at year end, which many people and businesses did not manage to do, due to long lines in front of banks. The amount of cash that banks were allowed to pay out to individual customers was severely restricted. Almost half of Indians have no bank account and many do not even have a bank nearby. The economy is largely cash based. Thus, a severe shortage of cash ensued. Those who suffered the most were the poorest and most vulnerable. They had additional difficulty earning their meager living in the informal sector or paying for essential goods and services like food, medicine or hospitals. Chaos and fraud reigned well into December.

Four weeks earlier

Not even four weeks before this assault on Indians, USAID had announced the establishment of “Catalyst: Inclusive Cashless Payment Partnership”, with the goal of effecting a quantum leap in cashless payment in India. The press statement of October 14 says that Catalyst “marks the next phase of partnership between USAID and Ministry of Finance to facilitate universal financial inclusion”. The statement does not show up in the list of press statements on the website of USAID (anymore?). Not even filtering statements with the word “India” would bring it up. To find it, you seem to have to know it exists, or stumble upon it in a web search. Indeed, this and other statements, which seemed rather boring before, have become a lot more interesting and revealing after November 8.

Reading the statements with hindsight it becomes obvious, that Catalyst and the partnership of USAID and the Indian Ministry of Finance, from which Catalyst originated, are little more than fronts which were used to be able to prepare the assault on all Indians using cash without arousing undue suspicion. Even the name Catalyst sounds a lot more ominous, once you know what happened on November 9.

Catalyst’s Director of Project Incubation is Alok Gupta, who used to be Chief Operating Officer of the World Resources Institute in Washington, which has USAID as one of its main sponsors. He was also an original member of the team that developed Aadhaar, the Big-Brother-like biometric identification system.

According to a report of the Indian Economic Times, USAID has committed to finance Catalyst for three years. Amounts are kept secret.

Badal Malick was Vice President of India’s most important online marketplace Snapdeal, before he was appointed as CEO of Catalyst. He commented:

“Catalyst’s mission is to solve multiple coordination problems that have blocked the penetration of digital payments among merchants and low-income consumers. We look forward to creating a sustainable and replicable model…. While there has been … a concerted push for digital payments by the government, there is still a last mile gap when it comes to merchant acceptance and coordination issues. We want to bring a holistic ecosystem approach to these problems.”

Also in September, McKinsey Global Institute issued a report titled “How digital finance could boost growth in emerging economies”. The authors acknowledged “collaboration with the Financial Services for the Poor team at the Bill & Melinda Gates Foundation”. They thanked more than ten Gates Foundation (BTCA) people for contribution to the report, including Gates Foundation’s India head Nachiket Mor, whom we will meet again later. The Gates Foundation and USAID are key members of a Better Than Cash Alliance, which we will also look at more closely. In mid-December, seemingly unfazed by ample evidence that taking away cash in India has been the exact opposite of helping the poor and promoting “financial inclusion”, McKinsey-partner Susan Lund and study contributor Laura Tyson published “The promise of digital finance”, making fantastic claims about the advantages of pushing back cash-use in favor of digital, including ten percent higher GDP for countries like India.

Ten months earlier

The multiple coordination problem and the cash-ecosystem-issue that Malick mentions had been analysed in a report that USAID commissioned in 2015 and presented in January 2016, in the context of the anti-cash partnership with the Indian Ministry of Finance. The press release on this presentation is also not in USAID’s list of press statements (anymore?). The title of the study was “Beyond Cash”.

“Merchants, like consumers, are trapped in cash ecosystems, which inhibits their interest” in digital payment it said in the report. Since few traders accept digital payments, few consumers have an interest in it, and since few consumers use digital payments, few traders have an interest in it. Given that banks and payment providers charge fees for equipment to use or even just try out digital payment, a strong external impulse is needed to achieve a level of card penetration that would create mutual interest of both sides in digital payment options.

It turned out in November that the declared “holistic ecosystem approach” to create this impulse consisted in destroying the cash-ecosystem for a limited time and to slowly dry it up later, by limiting the availability of cash from banks for individual customers. Since the assault had to be a surprise to achieve its full catalyst-results, the published Beyond-Cash-Study and the protagonists of Catalyst could not openly describe their plans. They used a clever trick to disguise them and still be able to openly do the necessary preparations, even including expert hearings. They consistently talked of a regional field experiment that they were ostensibly planning.

“The goal is to take one city and increase the digital payments 10x in six to 12 months,” said Malick less than four weeks before most cash was abolished in the whole of India. To not be limited in their preparation on one city alone, the Beyond Cash report and Catalyst kept talking about a range of regions they were examining, ostensibly in order to later decide which was the best city or region for the field experiment. Only in November did it became clear that the whole of India should be the guinea-pig-region for a global drive to end the reliance on cash. Reading a statement of Ambassador Jonathan Addleton, USAID Mission Director to India, with hindsight, it becomes clear that he stealthily announced that, when he said four weeks earlier:

“India is at the forefront of global efforts to digitize economies and create new economic opportunities that extend to hard-to-reach populations. Catalyst will support these efforts by focusing on the challenge of making everyday purchases cashless.”

Catalyst is housed at IFMR, an Indian research institute, of which Gates Foundation India’s CEO Nachiket Mor is a board member, has many US-Institutions as funders, including many members of a group called Better Thank Cash Alliance, including USAID, Gates Foundation, Ford foundation, Citi. IFMR is a member of the “Alliance for financial inclusion”, which is financed by the Gates Foundation (BTCA).

Veterans of the war on cash in action

Who are the institutions behind this decisive attack on cash? Upon the presentation of the Beyond-Cash-report, USAID declared: “Over 35 key Indian, American and international organizations have partnered with the Ministry of Finance and USAID on this initiative.” On the ominously named website http://cashlesscatalyst.org/" onclick="window.open(this.href);return false; one can see that they are mostly IT- and payment service providers who want to make money from digital payments or from the associated data generation on users. Many are veterans of what a high-ranking official of Deutsche Bundesbank called the “war of interested financial institutions on cash” (in German). They include the Better Than Cash Alliance, the Gates Foundation (Microsoft), Omidyar Network (eBay), the Dell Foundation Mastercard, Visa, Metlife Foundation.

The Better Than Cash Alliance

The Better Than Cash Alliance, which includes USAID as a member, is mentioned first for a reason. It was founded in 2012 to push back cash on a global scale. The secretariat is housed at the United Nations Capital Development Fund (UNCDP) in New York, which might have its reason in the fact that this rather poor small UN organization was glad to have the Gates Foundation in one of the two preceding years and the MasterCard Foundation in the other as its most generous donors.

The members of the Alliance are large US-Institutions which would benefit most from pushing back cash, i.e. credit card companies Mastercard and Visa, and also some U.S. institutions whose names come up a lot in books on the history of the United States intelligence services, namely Ford Foundation and USAID. A prominent member is also the Gates Foundation. Omidyar Network of eBay founder Pierre Omidyar and Citi are important contributors. Almost all of these are individually also partners in the current USAID-India-Initiative to end the reliance on cash in India and beyond. The initiative and the Catalyst program seem little more than an extended Better Than Cash Alliance, augmented by Indian and Asian organizations with a strong business interest in a much decreased use of cash.

Reserve Bank of India’s IMF-Chicago Boy

The partnership to prepare the temporary banning of most cash in India coincides roughly with the tenure of Raghuram Rajan at the helm of Reserve Bank of India from September 2013 to September 2016. Rajan (53) had been, and is now again, economics professor at the University of Chicago. From 2003 to 2006 he had been Chief Economist of the International Monetary Fund (IMF) in Washington. (This is a cv item he shares with another important warrior against cash, Ken Rogoff.) He is a member of the Group of Thirty, a rather shady organization, where high ranking representatives of the world major commercial financial institutions share their thoughts and plans with the presidents of the most important central banks, behind closed doors and with no minutes taken. It becomes increasingly clear that the Group of Thirty is one of the major coordination centers of the worldwide war on cash. Its membership includes other key warriors like Rogoff, Larry Summers and others.

Raghuram Rajan has ample reason to expect to climb further to the highest rungs in international finance and thus had good reason to play Washington’s game well. He already was a President of the American Finance Association and inaugural recipient of its Fisher-Black Prize in financial research. He won the handsomely endowed prizes of Infosys for economic research and of Deutsche Bank for financial economics as well as the Financial Times/Goldman Sachs Prize for best economics book. He was declared Indian of the year by NASSCOM and Central Banker of the year by Euromoney and by The Banker. He is considered a possible successor of Christine Lagard at the helm of the IMF, but can certainly also expect to be considered for other top jobs in international finance.

A flying-start in 2013

In 2013, the year after BTCA was founded, Rajan, former Chief Economist of the International Monetary Fund (IMF) in Washington, took over the post of Governor of the Reserve Bank of India (RBI). One of his first decisions was to set up the “Committee on Comprehensive Financial Services for Small Businesses and Low Income Households”. He put Nachiket Mor in charge of it, a banker an board-member of the RBI. In March 2016 the Gates Foundation made Mor head of its India country office. A reward?

Somewhat counterintuitively, the Mor Committee that was to foster financial inclusion of the poor and of rural areas, was heavily dominated by big finance and law firms, with a strong US bias and. Members included Vikram Pandit, former CEO Citigroup, a member of the Better Than Cash Alliance, and Bundu Ananth, President of IFMR Trust. A further member of the Mor Committee was a representative of the National Payments Corporation of India the umbrella organization of payment service providers, which aims to move India to a cashless society. Another member was credit Rating Agency CRISIL, majority-owned by the US Rating giant Standard & Poor’s.

In May 2016, RBI announced plans to print a new series of banknotes and announced in August that it had approved a design for a new 2,000 rupee note.

As a Central Bank Governor, Rajan was liked and well respected by the financial sector, but very much disliked by company people from the real (producing) sector, despite his penchant for deregulation and economic reform. The main reason was the restrictive monetary policy he introduced and staunchly defended. After he was viciously criticized from the ranks of the governing party, he declared in June that he would not seek a second term in September. Later he told the New York Times that he had wanted to stay on, but not for a whole term, and that premier Modi would not have that. A former commerce and law Minister, Mr. Swamy, said on the occasion of Rajan’s departure that it would make Indian industrialists happy:

“I certainly wanted him out, and I made it clear to the prime minister, as clear as possible…. His audience was essentially Western, and his audience in India was transplanted westernized society. People used to come in delegations to my house to urge me to do something about it.”

A disaster that had to happen

If Rajan was involved in the preparation of this assault to declare most of Indians’ banknotes illegal – and there should be little doubt about that, given his personal and institutional links and the importance of Reserve Bank of India in the provision of cash – he had ample reason to stay in the background. After all, it cannot have surprised anyone closely involved in the matter, that this would result in chaos and extreme hardship, especially for the majority of poor and rural Indians, who were flagged as the supposed beneficiaries of the badly misnamed “financial inclusion” drive. USAID and partners had analyzed the situation extensively and found in the Beyond-Cash-report that 97% of transactions were done in cash and that only 55% of Indians had a bank account. They also found that even of these bank accounts, “only 29% have been used in the last three months“.

All this was well known and made it a certainty that suddenly abolishing most cash would cause severe and even existential problems to many small traders and producers and to many people in remote regions without banks. When it did, it became obvious, how false the promise of financial inclusion by digitalization of payments and pushing back cash has always been. There simply is no other means of payment that can compete with cash in allowing everybody with such low hurdles to participate in the market economy.

However, for Visa, Mastercard and the other payment service providers, who were not affected by these existential problems of the huddled masses, the assault on cash will most likely turn out a big success, “scaling up” digital payments in the “trial region”. After this chaos and with all the losses that they had to suffer, all business people who can afford it, are likely to make sure they can accept digital payments in the future. And consumers, who are restricted in the amount of cash they can get from banks now, will use opportunities to pay with cards, much to the benefit of Visa, Mastercard and the other members of the extended Better Than Cash Alliance.

Who knew?

In a report of news agency Reuters from December named “Who knew?”, unnamed Indian official sources want to make us believe that only the prime minister himself and a handful of people, knew of the plans. The Reuters report names only one of the supposedly five who knew, a high-ranking official of the finance ministry. Tellingly, there is not a single mention of any foreign involvement, despite a formal cooperation of the finance ministry with USAID, aimed at pushing back cash in favor of digital payments. This makes the Reuters piece another piece of evidence in favor of the hypothesis that a strong and not fully legitimate force behind the brutal intervention that happened in November is being covered up.

The hypothesis that a main driver behind the demonetization were U.S. interests, does not at all imply that the Indian prime minister and other Indian constituents did not have their own interests associated with it. It is hardly possible to get the elite of a country to do something that goes against their own interests, but it is fairly easy to get them to do something that helps significant fractions of them, but hurts the majority of the people. A few possible such interests, taken from readers’ suggestions are recapitalising the public banks, which were staggering under the weight of bad loans to cronies, the interests of online payment platforms and online marketplaces as well as retail chains, which, curiously, as an Indian journalist tells me, were well supplied with cash in their in-store ATMs and benefited from the wiping out of informal competition.

Why Washington is waging a global war on cash

The business interests of the U.S. companies that dominate the global IT business and payment systems are an important reason for the zeal of the U.S. government in its push to reduce cash use worldwide, but it is not the only one and might not be the most important one. Another motive is surveillance power that goes with increased use of digital payment. U.S. intelligence organizations and IT companies together can survey all international payments done through banks and can monitor most of the general stream of digital data. Financial data tends to be the most important and valuable.

Even more importantly, the status of the dollar as the world’s currency of reference and the dominance of U.S. companies in international finance provide the US government with tremendous power over all participants in the formal non-cash financial system. It can make everybody conform to American law rather than to their local or international rules. German newspaper Frankfurter Allgemeine Zeitung has recently run a chilling story describing how that works (German). Employees of a German factoring firm doing completely legal business with Iran were put on a US terror list, which meant that they were shut off most of the financial system and even some logistics companies would not transport their furniture any more. A major German bank was forced to fire several employees upon U.S. request, who had not done anything improper or unlawful.

There are many more such examples. Every internationally active bank can be blackmailed by the U.S. government into following their orders, since revoking their license to do business in the U.S. or in dollar basically amounts to shutting them down. Just think about Deutsche Bank, which had to negotiate with the US Treasury for months whether they would have to pay a fine of 14 billion dollars and most likely go broke, or get away with seven billion and survive. If you have the power to bankrupt the largest banks even of large countries, you have power over their governments, too. This power through dominance over the financial system and the associated data is already there. The less cash there is in use, the more extensive and secure it is, as the use of cash is a major avenue for evading this power.

Silver
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Re: Financial Reserve

Post by Silver »

“I consider that it is not only prudential, but absolutely necessary to protect the inhabitants of this city from being imposed upon by a spurious currency…I think it much safer to go upon the hard money system altogether. I have examined the Constitution upon this subject and find my doubts removed…Article I, Section 10 declares that nothing else except gold and silver shall be lawful tender…The different states, and even Congress itself, have passed many laws diametrically contrary to the Constitution of the United States…The Constitution acknowledges that the people have all power not reserved to itself.” (Joseph Smith)

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iWriteStuff
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Re: Financial Reserve

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Silver wrote:“I consider that it is not only prudential, but absolutely necessary to protect the inhabitants of this city from being imposed upon by a spurious currency…I think it much safer to go upon the hard money system altogether. I have examined the Constitution upon this subject and find my doubts removed…Article I, Section 10 declares that nothing else except gold and silver shall be lawful tender…The different states, and even Congress itself, have passed many laws diametrically contrary to the Constitution of the United States…The Constitution acknowledges that the people have all power not reserved to itself.” (Joseph Smith)
Shame on you for not posting this yet! :)
Two weeks ago we asked a question on Metals & Markets that the market has not (yet): Could Trump’s Border Tax Ignite CHAOS in the US Silver Market?

Moments ago WH Press Secretary Sean Spicer confirmed this risk while discussing Trump’s plans to make Mexico pay for his wall: “by imposing a 20 percent tax on ALL IMPORTS from Mexico…“

After a chaotic Twitter back and forth between President Trump and Mexican President Pena Nieto resulted in the cancellation of the upcoming meeting to renegotiate NAFTA, Trump vowed Mexico will pay for his wall one way or another.

Speaking to reporters aboard Air Force One Thursday, Press Secretary Sean Spicer revealed Trump plans to force Mexico to pay for his wall via a border tax on ALL IMPORTS.

The risk to the US Silver market (which is HEAVILY supplied by Mexican mining operations) is that the Trump Administration doesn’t single out manufacturing like GM, Chrysler and Ford for import taxes, but rather taxes ALL IMPORTS, which according to Sean Spicer, sounds like will be the plan:

“by imposing a 20 percent tax on all imports from Mexico.”
Just how much might the US silver market be affected if imports are suddenly taxed by 20%?

We suspect more than most would be willing to admit.

According to expert silver analyst Steve St. Angelo, the US imported a whopping 3,440 metric tonnes of silver in 2015 – the majority from Mexico.

US silver prices could jump above global prices and create a bifurcated market.
Wholesale silver shortages would likely result, as refineries and mints scrambled for alternative non-Mexican sources of silver.

The problem is that while Mexico led the world in silver production in 2015 with 189.5 million oz of production according to the Silver Institute, a MASSIVE 21% of total global silver production!

US silver output was only 35 million oz in 2015 – not even enough to meet demand for US Mint Silver Eagle bullion coins! (US Mint demand was over 48 million oz of silver in 2015 for bullion Silver Eagles and bullion ATB coins alone).

China’s 109 million oz of annual production and Russia’s 50 million are certainly not headed to the US of A.
http://www.silverdoctors.com/silver/sil ... om-mexico/" onclick="window.open(this.href);return false;

Thank you, Mr. Trump, from the bottom of my brokerage account and the undisclosed location where I keep my silver bullion saved for emergencies :)

brianj
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Re: Financial Reserve

Post by brianj »

iWriteStuff wrote:
Silver wrote:“I consider that it is not only prudential, but absolutely necessary to protect the inhabitants of this city from being imposed upon by a spurious currency…I think it much safer to go upon the hard money system altogether. I have examined the Constitution upon this subject and find my doubts removed…Article I, Section 10 declares that nothing else except gold and silver shall be lawful tender…The different states, and even Congress itself, have passed many laws diametrically contrary to the Constitution of the United States…The Constitution acknowledges that the people have all power not reserved to itself.” (Joseph Smith)
Shame on you for not posting this yet! :)
Actually, he shouldn't have posted it at all. Article 1 section 10 of the Constitution of the United States of America prohibits THE STATES from making "any Thing but gold and silver Coin a Tender in Payment of Debts." Earlier in US history each of the states had their own currency and you couldn't spend Virginia money in Pennsylvania. This clause of the Constitution was put in not to limit the federal government, but to limit states. Article 1 section 8 grants Congress the authority to create money and regulate the value thereof, with no restriction on what can constitute money.

Regarding silver, if the Trump administration enacts a tariff on silver imported from Mexico I guess we'll be buying a lot of silver from Canada. Where the Canadians acquired the sliver they form into coins won't be an issue, and when I looked just now I found Canadian maple leaf coins selling for less than American silver eagles.

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iWriteStuff
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Re: Financial Reserve

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brianj wrote:
iWriteStuff wrote:
Silver wrote:“I consider that it is not only prudential, but absolutely necessary to protect the inhabitants of this city from being imposed upon by a spurious currency…I think it much safer to go upon the hard money system altogether. I have examined the Constitution upon this subject and find my doubts removed…Article I, Section 10 declares that nothing else except gold and silver shall be lawful tender…The different states, and even Congress itself, have passed many laws diametrically contrary to the Constitution of the United States…The Constitution acknowledges that the people have all power not reserved to itself.” (Joseph Smith)
Shame on you for not posting this yet! :)
Actually, he shouldn't have posted it at all. Article 1 section 10 of the Constitution of the United States of America prohibits THE STATES from making "any Thing but gold and silver Coin a Tender in Payment of Debts." Earlier in US history each of the states had their own currency and you couldn't spend Virginia money in Pennsylvania. This clause of the Constitution was put in not to limit the federal government, but to limit states. Article 1 section 8 grants Congress the authority to create money and regulate the value thereof, with no restriction on what can constitute money.

Regarding silver, if the Trump administration enacts a tariff on silver imported from Mexico I guess we'll be buying a lot of silver from Canada. Where the Canadians acquired the sliver they form into coins won't be an issue, and when I looked just now I found Canadian maple leaf coins selling for less than American silver eagles.
I was saying "shame on you for not posting this" in reference to the article I then posted. Monetary policy and Fed Reserve involvement is another discussion entirely.

I'm not sure I follow you on the Canadian silver part. Sure, you can buy Canadian maple leafs. I know "Silver" likes them. I prefer ASEs and anything from the Perth mints. The point is the cost of production will go up on anything that is minted in the U.S., whether we buy our raw silver from Canada or Mexico, for the simple fact that that's what it will cost to import it into the states. As the cost of production goes up, so does the price. This is the basic underlying economic premise of tariffs in general - ultimately the consumer will absorb the cost of the tariff as it is passed on by the producer in order to maintain a profit.

I hope you don't like guacamole. :ymparty:

brianj
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Re: Financial Reserve

Post by brianj »

iWriteStuff wrote:I was saying "shame on you for not posting this" in reference to the article I then posted. Monetary policy and Fed Reserve involvement is another discussion entirely.
Gotcha.
I'm not sure I follow you on the Canadian silver part. Sure, you can buy Canadian maple leafs. I know "Silver" likes them. I prefer ASEs and anything from the Perth mints. The point is the cost of production will go up on anything that is minted in the U.S., whether we buy our raw silver from Canada or Mexico, for the simple fact that that's what it will cost to import it into the states. As the cost of production goes up, so does the price. This is the basic underlying economic premise of tariffs in general - ultimately the consumer will absorb the cost of the tariff as it is passed on by the producer in order to maintain a profit.

I hope you don't like guacamole. :ymparty:
Yes, any silver imported directly from Mexico may have a tariff so high that those imports will stop. But silver passing through Canada will flow into the US to make up the difference.

And I love guacamole, but I use avocados grown in California. I can grow my own jalapenos and tomatoes, and I have plenty of spices on hand. It disturbs me how many people have plenty of wheat, beans, and rice in their home storage but no spices to add some flavor!

Of course this is all hypothetical. Backing out of NAFTA will be difficult for Trump to pull off, and seeing a 20% rise in the price of foods imported from Mexico will be very unpopular with the electorate.

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Re: Financial Reserve

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brianj wrote: Yes, any silver imported directly from Mexico may have a tariff so high that those imports will stop. But silver passing through Canada will flow into the US to make up the difference.

And I love guacamole, but I use avocados grown in California. I can grow my own jalapenos and tomatoes, and I have plenty of spices on hand. It disturbs me how many people have plenty of wheat, beans, and rice in their home storage but no spices to add some flavor!

Of course this is all hypothetical. Backing out of NAFTA will be difficult for Trump to pull off, and seeing a 20% rise in the price of foods imported from Mexico will be very unpopular with the electorate.
I'm allergic to guacamole, so no skin off my potato!

If the number 1 producer of silver in the world stops sending us silver, the laws of supply and demand say expect a higher price. But, as you say, who knows if he can pull it off. He either tariffs his way to a higher cost for silver or backs off the BAT talk (Border Adjustment Tax) and watch the dollar drop in value, also pushing up silver valuations.

I guess I'm saying I like silver right now :|

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Re: Financial Reserve

Post by Silver »

iWriteStuff wrote:I guess I'm saying I like Silver right now :|
Well, uh, I, uh, I uh, I, uh, like you, too.

Silver
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Re: Financial Reserve

Post by Silver »

This dovetails with what Brandon Smith has been saying.

http://www.zerohedge.com/news/2017-02-1 ... y-possible" onclick="window.open(this.href);return false;

Why Donald Trump Needs The Next Recession To Start As Quickly As Possible
Submitted by Michael Snyder via The Economic Collapse blog,

A new recession is coming, and Donald Trump needs it to begin sooner rather than later. As I explained last week, most American voters tend to care about their pocketbooks more than anything else. If the next recession were to officially start during the first quarter of 2017, it would be very easy for Trump to blame it on Obama, and then he could portray himself as the one that pulled the U.S. economy out of recession in time for the 2020 election. But if the next recession does not begin until 2018 or 2019, everybody is going to blame it on Trump even if it is not his fault. In politics, who gets the blame for whatever goes wrong is often the most important thing, and if Trump wants to avoid blame for the next recession he needs for it to start as quickly as possible.

For most of 2016, the mainstream media was warning that a new recession was probably coming no matter who won the election. For one example, just check out this Bloomberg article.

And for once, the mainstream media was precisely correct. Barack Obama left us with an enormous economic mess, and it would take an economic miracle of unprecedented proportions to keep the U.S. economy from going into a recession at this point.

During the Obama years, the U.S. went on a debt binge unlike anything we have ever seen before.

The U.S. national debt almost doubled. During Obama’s time in the White House, it increased from 10.6 trillion dollars to nearly 20 trillion dollars, and that means that over 9 trillion dollars of future consumption was brought into the present. That incredible boost to spending would have shot U.S. economic growth into the stratosphere during normal times, but because we were struggling so much all we got out of it was eight years of economic stagnation.

In fact, Barack Obama was the only president in modern American history never to have a single year when the U.S. economy grew by at least 3 percent, and he had two terms to try to accomplish that goal.

And remember, Obama also had the benefit of doctored economic numbers. John Williams of shadowstats.com tracks what the figures would look like if honest numbers were being used, and according to his calculations the U.S. economy has actually continually been in a recession since 2005.

In addition to government debt, other forms of debt are way out of control as well. The total amount of consumer debt in the United States has now hit 12 trillion dollars, and corporate debt has approximately doubled since the last recession.

When levels of debt grow much, much faster than the overall economy, it is inevitable that a crash will come.

If you look back throughout history, I don’t know if you can find a single example where debt has grown this quickly and a crash has not happened afterwards.

By some miracle if we are able to avoid a major economic downturn this time, we will literally be defying the laws of economics.

The employment crisis also threatens to get a lot worse in the months ahead. The mainstream media keeps trying to tell us that we are almost at “full employment”, but the truth is that more than 100 million Americans do not have a job right now.

Yes, there are a few areas of the country where jobs appear to be plentiful, but there are many more areas where they are not.

For example, you will never, ever be able to convince 23-year-old Tyler Moore that the job market is good…

Tyler Moore’s late-December drive to Louisville, Ky., was one of desperation. He was headed four hours west on Interstate 64 to interview for a job. Even if he landed the position, filling his gas tank had left him with $8 to his name. He would have to sleep at a friend’s place until he could earn enough to pay rent.

The 23-year-old had run out of options. He’d applied for dozens of jobs within an hour and a half of his hometown of Lovely, once a coal-mining stronghold. Instead of opportunities, he had found waiting lists.

“Minimum-wage jobs, fast-food restaurants, Wal-Mart, anything like that, a lot of them has already been took,” he says in an Appalachian drawl, explaining that the backlog just to interview was as long as a year. “There are no jobs.”
If the U.S. economy is in “good shape”, then why can’t people like Moore find a job?

Yes, there is a tremendous amount of optimism in the financial markets right now and the stock market has been soaring.

But the exact same things were true in 2007, and we remember how that turned out.

There is no possible way that the S&P 500 can continue to generate an 18% annual return without corresponding economic growth. The following comes from David Stockman…

Altogether the S&P 500 now stands at 3.4X its post-crisis low, having generated an 18% annual return (including dividends) for nearly eight years running.

To be sure, in an honest free market that very fact would be a flashing red light, warning that exceptionally high gains over an extended period necessitate a regression to the mean in the period ahead.
A lot of people get caught up in trying to predict exactly when the stock market will crash, but what everybody should be able to agree on is that it will crash.

There is no possible way that stocks can stay at such ridiculously overpriced levels indefinitely.

Throughout history, stocks have always moved back in the direction of the long-term averages, and this time will be no exception.

And just like last time, the beginning of a new recession will likely be accompanied by a major financial correction.



In recent articles, I have been highlighting some of the reasons why it appears that a new recession is imminent…

-Federal tax receipts have gone negative for the first time since the last recession.

-Job growth at S&P 500 companies has gone negative for the very first time since the last recession.

-The U.S. trade deficit in 2016 was the largest in four years.

-Lending standards have tightened up for medium and large sized firms for six quarters in a row.

-Lending standard are also tightening up for consumers.

-We just saw the largest percentage decline in average weekly hours since the recession of 2008.

-Gross private domestic investment is down.

-Consumer bankruptcies are rising.

-Commercial bankruptcies are rising.
All of this is not necessarily bad news for Trump.

A horrible recession started during the early years of Ronald Reagan’s presidency, but the U.S. economy turned around later in his first term and that momentum helped propel him to an easy victory in 1984.

Similarly, Trump could actually take advantage of the coming economic downturn as long as he is able to pin all of the blame for it on the previous administration.

If there is one thing that is true about U.S. voters, it is the fact that they tend to care about their own economic well-being more than anything else.

If you doubt this, just check out the results of a recent Fox News poll…

The latest Fox News Poll also asks, what defines the American Dream today? At the top, according to the national survey released Wednesday, is “retiring comfortably.” Some 88 percent feel that is extremely or very important to realizing the dream.

Next, 76 percent say “having a successful career” is important. That’s followed by “raising a family” (74 percent) and “making a valuable contribution” to their community (74 percent).

“Owning a home” is seen as a big part of achieving the dream for nearly 7 in 10 (69 percent). About 6 in 10 say “graduating college” (61 percent) and “being better off” than their parents (57 percent).
To most Americans, being “successful in life” comes down to how much money they have.

That should not be true, but it is.

And this is ultimately what Trump will be judged on.

If the economy is improving by 2020, voters will tend to evaluate him favorably. But if the economy is faltering during the next election season, it will be more difficult for him to get a second term.

So what Trump and all those that support Trump should want is for the coming recession to begin and end as quickly as possible.

However, there is also the possibility that the next recession may be a particularly bad one. Because we are in the midst of the biggest debt bubble in human history, any major downturn could ultimately spiral completely out of control. In other words, we may be facing the kind of crisis from which we never quite recover.

One expert that is warning about such a scenario is legendary investor Jim Rogers…

…get prepared because we’re going to have the worst economic problems we’ve had in your lifetime or my lifetime and when that happens a lot of people are going to disappear.

In 2008 Bear Stearns disappeared, Bear Stearns had been around over 90 years. Lehman Brothers disappeared. Lehman Brothers had been around over 150 years. A long, long time, a long glorious history they’ve been through wars, depression, civil war they’ve been through everything and yet they disappear.

So the next time around it’s going to be worse than anything we’ve seen and a lot of institutions, people, companies even countries, certainly governments and maybe even countries are going to disappear. I hope you get very worried.

when you start having bear markets as you I’m sure well know one bad thing happens and another bad thing happens and these things snowball just like in bull markets good news comes out then more good news comes out the next thing you know you’re five or six or seven years into a bull market.

Well bear markets do the same thing and so we have a lot of bad news on the horizon. I haven’t even gotten to war. I haven’t even gotten to trade war or anything like that but you know things do go wrong.
If it is as bad as Rogers is suggesting, it wouldn’t be too long before conditions in America would begin to resemble those portrayed in my novel.

Let’s hope that does not turn out to be the case.

Let’s hope that the next recession begins and ends as quickly as possible and that the U.S. economy is on a solid upswing by 2020.

And if you are a Trump supporter, don’t be too dismayed if the U.S. economy takes a major downturn in 2017. As I discussed above, it could actually be just the thing that Trump needs to set the stage for another election victory in 2020.

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Toto
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Re: Financial Reserve

Post by Toto »

My favorite is lawful money of the united states.....

Morgan Dollar

Image

Peace Dollar (Denounce war, proclaim peace)

Image

The American Coinage Act of 1792
One dollar - to contain three hundred and seventy one and four sixteenth (371 4/16) grains of pure silver, or four hundred and sixteen (416) grains of standard silver.

Those tend to carry a premium. My second choice is junk silver as it is usually carries the least premium. Considering the price on the Comex is disconnected from a true market value, the real value of silver should be much higher in terms of the ratio of Federal Reserve Notes to Dollars. See the categories at the bottom right side at this link: http://www.usdebtclock.org/

And considering that with gold, somebody pays to dig it out of the ground and somebody pays to put it back in the ground. It has little utility, and most of the gold ever mined still exists in storage somewhere whereas a lot of the silver is consumed then sent to the landfill where is is pretty much unrecoverable. Scarcity is one of the characteristics that makes precious metals well suited as a medium of exchange that can't be manipulated by the operation of a printing press, or electronic manipulation, and useful as an exchangeable store of value.

When the real value emerges from the dust, the value of a Dollar might make it more difficult to use in commerce for small everyday purchases. In that event, smaller denomination might be more useful in trade, such as dimes, quarters, and half dollars. (Junk silver of course)

Gold? Well, that might be best to bribe the border guards when it comes time to get out of the U.S., or to buy a really really big car! :D

I like to take the excess of my value production to acquire silver on a regular basis, regardless of the price on the bogus paper Comex because at the current published price, it is a really really good value into the future.

Federal Reserve notes are not Money, rather, evidence of debt. How can you pay a debt with a debt? :-?

So here is the reality. We are a nation in bondage to the issuers of irredeemable paper, false copper-nickel coins and imaginary bank credit. We are living in an illusion of wealth and power, but it is all based on (1) fraud, (2) lies (perjury) (3) deceit, (4) (conspiracy to defraud the United States 18 USC 371, 471, 472, 473), (5) extortionate extensions and collections or credit 18 USC 891, 892, 893, and 894, (6) racketeering 18 USC 1961, 1962 and 1963, and on to 2381 through 2386, rebellion, insurrection, treason, misprision of treason, seditious conspiracy to overthrow the government of the United States and the States which are expressly prohibited from making any Thing but gold and silver Coin a Tender in Payment of Debts. U.S. Constitution, Article I, Section 10.

Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves.

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Re: Financial Reserve

Post by Silver »

Great post, Toto. It is truth you are sharing. Everybody here need to go buy some silver. They need to stop ignoring your advice and buy some. I don't care if anyone thinks I'm crazy. It's time to buy while still so cheap.

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Re: Financial Reserve

Post by Silver »

A great comment on zerohedge:

"new runnymede brushhog Mar 12, 2017 10:34 AM
Just because the situation appears fluid does not negate inevitability. Fiat money bakes into the cake implosion. By our own human nature we are inclined to focus on the waves instead of what the tide is doing, and more importantly what is going to do.

The fiat based money/debt system in 2017 is like the guy walking around who has advanced terminal colon cancer but has no noticeable symptoms and is blissfully unaware of his impending catastrophe, and makes decisions accordingly, albeit with faulty assumptions. Our theoretical guy could have been saved had he had the right knowledge and received timely competent treatment. Our nature inclines us to only focus on today and on our own perceived interests, even if it unwittingly kills us tomorrow. The consequences do not care what our intentions were/are.

The financial system is dead man walking. We're just in the penultimate (looting) stage of the drama.

"Things and actions are what they are, and the consequences of them will be what they will be: why then should we desire to be deceived?" Bishop Butler

Laws of nature/physics: infinity

Pretentious humans: 0"

http://www.zerohedge.com/news/2017-03-1 ... nt-9175055

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Toto
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Re: Financial Reserve

Post by Toto »

Jim Willie Issues Warning On Seven Bowls Apocalypse: “HELL ON EARTH!”
Posted on March 12, 2017 by The Doc

Gold & Silver might be the best protection for the financial and economic deterioration, if not destruction, as individuals and financial entities work to ensure the preservation of their assets. However, Gold & Silver should be part of any concerted effort toward preparedness

PERSONAL & FINANCIAL PROTECTION SHIELD

It is always wise to prepare for emergency times. People should accumulate supplies of water, dried food, canned food, clothes, vitamins, medical supplies, grooming supplies, toilet paper, and much more. They should also remove paper assets from their private financial stock. The old motto of buy low / sell high seems to be forgotten by the moronic sheeple which chase rising stocks, only to suffer very serious damage in financial loss later.

Best to sell what the central banks and big banks have been propping up, namely stocks and bonds. Bank certificates are not safe either. If and when big banks are toppled and go bust during the contagion extending from the Systemic Lehman event on the horizon, the bank bail-ins threaten the personal deposits.

Best to buy what the central banks and big banks have been suppressing, namely Gold & Silver invested in the form of bars and coins. These are extremely dangerous times, and they are likely to get worse.

MUST READ: Full article here: http://www.silverdoctors.com/gold/gold- ... im-willie/

Website: http://www.goldenjackass.com/main5.html

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iWriteStuff
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Re: Financial Reserve

Post by iWriteStuff »

Toto wrote: March 13th, 2017, 1:30 pm Jim Willie Issues Warning On Seven Bowls Apocalypse: “HELL ON EARTH!”
Posted on March 12, 2017 by The Doc

Gold & Silver might be the best protection for the financial and economic deterioration, if not destruction, as individuals and financial entities work to ensure the preservation of their assets. However, Gold & Silver should be part of any concerted effort toward preparedness

PERSONAL & FINANCIAL PROTECTION SHIELD

It is always wise to prepare for emergency times. People should accumulate supplies of water, dried food, canned food, clothes, vitamins, medical supplies, grooming supplies, toilet paper, and much more. They should also remove paper assets from their private financial stock. The old motto of buy low / sell high seems to be forgotten by the moronic sheeple which chase rising stocks, only to suffer very serious damage in financial loss later.

Best to sell what the central banks and big banks have been propping up, namely stocks and bonds. Bank certificates are not safe either. If and when big banks are toppled and go bust during the contagion extending from the Systemic Lehman event on the horizon, the bank bail-ins threaten the personal deposits.

Best to buy what the central banks and big banks have been suppressing, namely Gold & Silver invested in the form of bars and coins. These are extremely dangerous times, and they are likely to get worse.

MUST READ: Full article here: http://www.silverdoctors.com/gold/gold- ... im-willie/

Website: http://www.goldenjackass.com/main5.html
I love a good bullion coin as much as the next guy, but Jim Willie is more or less a salesman. He's been preaching the same sermon since 2013:

http://www.silverdoctors.com/gold/gold- ... n-in-2013/

Back then, gold was at $1,650 and silver at $32. Where are we now? Oh, right. $1,200 and $17. Meaning if you bought on the day you read the above "newsletter", you'd be down 28% and 47% respectively.

Gold and silver aren't investments - they are insurance against systemic collapse. Buy them as such, but don't plow your whole savings into them hoping to sell them back to the same guy for more money later on down the road.

*Footnote: he implies it's wise to bet against a central bank. I'd put it to you that eventually you'll be right if you do, but they are gonna put up a heckuva fight before they go down. Can you handle the volatility of watching your stash of gold or silver get devalued almost daily? You either throw money at them that you can afford to "lose" and use them as insurance, or you better stock up on Tums for all the anxiety you'll have watching them get pushed lower.

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Toto
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Re: Financial Reserve

Post by Toto »

A lot of folks consider me delusional, but iWriteStuff too anyway. While I question everything, a lot of my sources lead me to believe the Dow will hit 30,000 and PM’s will drop further before the excrement hits the air propulsion unit. It’s hard to say unless you have a connection to the families, and it seems they are losing control. I have one source who says they have abandoned the microchip in favor of the debit card for an electronic form of currency, but it might as well be a microchip. It’s not about the money, it’s all about control.

I jumped on the preparedness bandwagon about 14 years ago, beginning with food (medicine), water, planting a garden, medical supplies, clothing etc., and precious metals in preparation for a financial crack up. But I can’t say I was wrong in that the crack up never came because it did in 2008. And I was ready. More so now, and grateful for the extension of time to prepare further. But who could anticipate the system would extend via quantative easing?

I began buying silver in 2003 when it was about $5.80 FRN’s per ounce. Then one day in 2008 my ride got totaled, insurance didn’t cover, and I had to take out a loan for a new one. In 2010 I sold enough at about $18.00, to pay off the loan. So I tripled my FRN’s and got out of debt, and remain out of debt to this day, and continue to acquire PM’s. When my father passed away in 2010 I got a small inheritance, some gold and silver, and socked the FRN's away in silver at about $28.00. Have I had a gain as an investment? Probably not; Maybe considering cost averaging. I'm not sure, haven't really kept track, and it would be a lot of work to dig it all up and count it. But I care not. I make my way in this life by producing values for others. It a linear income, I'm not rich, but I get what I need and I'm happy with that. I've heard it said that the one who has the most is the one that needs the least.

Sometimes I buy low, sometimes I buy high, and cost averaging balances things out. So, I just accumulate when funds are available no matter the phony manipulated price on the Comex. And yes, I consider it insurance, not an investment. But consider this. In 1913, the average pay for a 12 hour day of hauling lumber off a mountain was 1/10th an ounce of silver. If you look at the price of silver on the fraudulent Comex paper exchange, right now $17.00 is a great deal that translates to 9.4 oz. of silver a day at $160.00 in FRN’s for an 8 hr. work day.


I’ll take the silver thank you. I consider the real value of PM’s is related to the cost in labor to get it out of the ground and coin into Money.

But I have a problem in my immediate sphere of influence and with this discussion group is as far as individuals make A points and miss THE point altogether.

Thomas Jefferson wrote this in a letter to John Adams, in 1787: "All the perplexities, confusion, and distress in America arise, not from defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit and circulation."

THE point, or at least the one I am trying to make here, is that the one and only purpose of paper money is to get something for nothing. When one party gets something for nothing, another party gets nothing for something. When any party gets nothing for something, that party has been robbed. What most victims of paper money fail to see is that the first user of it has to get it for nothing and with it gets everything for nothing and the last user must get absolutely nothing for it. All in between are proportionally robbed, depending on how long they hold it. God forbids it; our Constitution precludes it; there can be no modern wars nor communism without it.

If our purpose is to denounce war and proclaim peace, the Federal Reserve will have to be sent to the dustbin of history, and the only way to do that is to return to a sound monetary system, and I’m a proponent of constitutional law, and a constitutional republic, and its restoration.

So I agree with you iWriteStuff in that PMs shouldn’t be considered an investment, and I do hold them as insurance. I agree with Jim Willie in that we should prepare in all things temporal. Isn't that what the Church has said we should do? And give great consideration to Bill Holter who says the financial crack up boom could happen in 72 hrs. I keep a reserve of 3 month’s FRN’s (a necessary evil) for a bank holiday. And I don’t have a single regret for having prepared yesterday for what could happen tomorrow.

Considering the economic system as is now current, Ayn Rand sounds prophetic when she wrote; “Making money was the highest activity of men before looters invaded the nerve-center of capitalism and abolished the gold-reserve requirement for the issuance of Federal Reserve notes in 1968. Ever since "making money" has been the lowest activity of men whereby the savers and producers are fleeced of their substance. Watch for the day when the last meaningful productive job in America is exported to China. On that day American society will become a zoo, and American citizens will be reduced to the station of animals in the cage, totally dependent on the zoo-keeper for food and shelter.”

So personally, I’m almost comfortable enough with my preparations to say, “BRING IT ON.” Except I should probably brush up on my Mandarin Chinese?

Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta Georgia, said:

"This is a staggering thought. We are completely dependent on the commercial banks.Someone has to borrow every dollar we have in circulation, cash, or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defect remedied very soon."

The point I am trying to make is if we don’t soon change the paradigm and repent of our financial transgressions, among other issues like the required oath of office in support of the Constitution, our doom is fixed!

But then if my countrymen don’t wake up soon, we might just meet eyeball to eyeball in on of Shillery’s “happy camps.”

I’ve heard it said that nothing in this life is sure but death and taxes, but I have a different view. There is no death, and nobody is paying taxes. They only think they are paying taxes.

But one thing is for sure. At the end of this sojourn, we will stand in the light of full understand, and appointed our appropriate place in the next one. So if in heaven we don’t meet, I hope we both enjoy the heat.
Last edited by Toto on March 14th, 2017, 5:53 pm, edited 1 time in total.

Silver
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Re: Financial Reserve

Post by Silver »

Post of the Month Award goes to Toto. ^^^^^^^^

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iWriteStuff
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Re: Financial Reserve

Post by iWriteStuff »

Silver wrote: March 14th, 2017, 4:45 pm Post of the Month Award goes to Toto. ^^^^^^^^
I'd "Thank" ya both if I could! Man I miss that function.

Moderation is all I'm preaching here. I don't disagree with any of the rest of the sermon.

Silver
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Re: Financial Reserve

Post by Silver »

iWriteStuff wrote: March 15th, 2017, 7:37 am
Silver wrote: March 14th, 2017, 4:45 pm Post of the Month Award goes to Toto. ^^^^^^^^
I'd "Thank" ya both if I could! Man I miss that function.

Moderation is all I'm preaching here. I don't disagree with any of the rest of the sermon.
I always tell people to not use their grocery money on precious metals. So when Noah was building the Ark, did he do it with moderation? LOL

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iWriteStuff
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Re: Financial Reserve

Post by iWriteStuff »

Silver wrote: March 15th, 2017, 10:15 am
iWriteStuff wrote: March 15th, 2017, 7:37 am
Silver wrote: March 14th, 2017, 4:45 pm Post of the Month Award goes to Toto. ^^^^^^^^
I'd "Thank" ya both if I could! Man I miss that function.

Moderation is all I'm preaching here. I don't disagree with any of the rest of the sermon.
I always tell people to not use their grocery money on precious metals. So when Noah was building the Ark, did he do it with moderation? LOL
Well, it DID take Noah almost 120 years to build the ark, according to some scholars ;)

Picking myself up a 10 oz RCM bar. Nice tip on the Canadians. They know their stuff!

Older/wiser?
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Re: Financial Reserve

Post by Older/wiser? »

iWriteStuff wrote: April 7th, 2017, 10:20 am
Silver wrote: March 15th, 2017, 10:15 am
iWriteStuff wrote: March 15th, 2017, 7:37 am
Silver wrote: March 14th, 2017, 4:45 pm Post of the Month Award goes to Toto. ^^^^^^^^
I'd "Thank" ya both if I could! Man I miss that function.

Moderation is all I'm preaching here. I don't disagree with any of the rest of the sermon.
I always tell people to not use their grocery money on precious metals. So when Noah was building the Ark, did he do it with moderation? LOL
Well, it DID take Noah almost 120 years to build the ark, according to some scholars ;)

Picking myself up a 10 oz RCM bar. Nice tip on the Canadians. They know their stuff!
I would be surprised if many forum members don't feel the same way, some of us are just less vocal . As far as spending grocery money nobody has to, all one needs to do is just come to the conclusion that the monetary system is flawed , and look at some history to see what's coming. Then it's easy, just quit
eating fast food, cut back on junk and you get a shiny nest egg. Almost everyone wastes some of there resources , may as well have something to show for it. I love having insurance that I can pass down to the kids.

Silver
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Re: Financial Reserve

Post by Silver »

I just thought of another reason everyone here should buy silver. A lot of silver, a highly conductive material, is used in bombs and missiles. The more silver you own the fewer bombs Trump will have at his disposal to kill innocents.

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