Truck Load Rates Halt 8 Week Slide 2.0

With regard to individual stock trading it feels like a roulette to me indeed. I never met a qualified person able to convince me to a certain stock based on their wisdom. Altough, I realize that there are people knowing exactly what to buy and when to sell. Inside traders, having first hand access to Information. That's supposed be illegal but they know how not to get caught.
I don't see it as a roullete when it comes to anticipation of the whole market growth. It is no brainer. That's what mutual fund are for. All it takes is some disposable income.

 

It was based before it was backed, i.e. first a currency unit reflected a weight of gold then when they wanted to have more control over money (and they had not enough gold), it was "backed" by reflecting a certain, agreed, portion, which only under specific circumstances could be redeemed in gold - finaly Nixon put an end to it too - in my understanding. How it woukd be connected to gold now, I have no idea. That's why it is called fiat currency.

 

But it’s not even based on gold or the value of gold. It’s based on the government saying that the dollar has value.

 

You're right, he did. But his argument is that gold will be the only standard of currency should the government fall, and that simply isn't true. Very few people actually have it, and even those who have invested heavily in it rarely have the gold or silver in their physical possession. But I don't expect somebody who refuses to read a couple of paragraphs that's contrary to his opinion because it's a "mini novel" to understand that.

 

The fact that our fiat currency scam isn't backed by gold anymore should be a huge red flag to anyone with half a brain. If you think this can continue you're delusional.

 

I lived through barter trading back in the old country 1981-84 Economics 101 text textbook case (literally)

currencies used:
1. cigarettes 2.vodka.3. gas. 4. pork meat, 5. food coupons.

Gold was not used but stashed aside for the real last hour (the same thing with US Dollar and Duetche Mark) those things were impractical for daily life transactions. I am kind of curious how the gold trading looks like in reality. Do you get to see a gold brick that you buy or you are given a certificate - which in a way is not much different than the classic money based in gold.

In all this apocalyptical talk - Mad Max World/Walking Dead is really about animal instincts, the ones without scruples will win. Even if you stash tons of ammo and cans of food, the zombies won't be bribed and still eat you alive. Maybe it is a good time to rewatch some of the B.S.
Halloween time.

 

Yeah but elaborate more. What do you mean? Explain. How does the backing in gold work? Seriously, I am curious.
Or you meant to say, at the very beginning, that it was NOT backed in gold any more. You just made a typo - thus all the confusion. To me it is obvious that gold reserves have no impact on US Dollar any more....I think you made a typo in that first "controversial" post, did you not?

 

Yet, as pointed out, it is neither.

I would also suggest he is not familiar with executive order 1602 from 1933, which, at the stroke of a pen, made it illegal for Americans to own or trade in gold, ANYWHERE IN THE WORLD!

This was followed a year later by the Gold Reserve Act, which allowed Roosevelt to increase the value of a Troy ounce of gold by nearly double, to $35. And, at the same time, prohibited anyone to exchange dollars for gold.

The net effect, of course, was to devalue the dollar by nearly half.

But you never seem to hear gold bugs talking about the political risks of owning gold, including confiscation and inflation.

 

Sorry, Joe. You'll have to do your own research or just keep listening to slimy used car salesman who like to gamble your revenue away. Read Ron Paul's book, "End The Fed". It's a great primer and should be enough to see how sick and cooked this Crony Capitalist scam is. The "free" markets here are all controlled and manipulated. They're not free. It's all a scam.

 

I can still have this in my drawer, can't I?