Great Depression of 2016

[rufus]

I guess we will see how things turn out pretty soon.

 

[rufus]

Well, I see the price of gold has gone up about fifty dollars in the last three days. Let's see what happens in the next week.

 

[hemet dennis]

Well, I see the price of gold has gone up about fifty dollars in the last three days. Let's see what happens in the next week.

So has the price of chickens in Jordan

http://www.bloomberg.com/news/2015-...s-jump-30-as-trade-on-u-s-chicken-halted.html

 

[rufus]

I see the price of gold went above $1300 a while ago. It seems to me that it goes up, and then when bureaucrats on the east coast come to work and have had their coffee the price goes down. I have to wonder just how much gold is in Fort Knox.

I see the Germans are trying to expedite the repatriation of their nation's gold. They asked the US to return that stored in our country. The US was unable or unwilling to return it, but promised to let Germany have its gold in drips and drabs.

This is worrisome. Considering that some fake bars have been found in the gold trade. I would think that China would have been the source of the fakes, but they say it came from the US. I don't know if that is true or not.

Worse, there is real gold, and then there is paper gold. Paper gold is those certificates saying one has so much gold on deposit with a firm. But paper is cheap and the tendency is to issue more certificates than there is gold. If everyone attempted to cash in and take their gold, what would happen?

I guess the question is just how much do we trust the US government? Has some politicians managed to make off with the wealth of the nation?

 

[hemet dennis]

I see the price of gold went above $1300 a while ago. It seems to me that it goes up, and then when bureaucrats on the east coast come to work and have had their coffee the price goes down. I have to wonder just how much gold is in Fort Knox.

I see the Germans are trying to expedite the repatriation of their nation's gold. They asked the US to return that stored in our country. The US was unable or unwilling to return it, but promised to let Germany have its gold in drips and drabs.

This is worrisome. Considering that some fake bars have been found in the gold trade. I would think that China would have been the source of the fakes, but they say it came from the US. I don't know if that is true or not.

Worse, there is real gold, and then there is paper gold. Paper gold is those certificates saying one has so much gold on deposit with a firm. But paper is cheap and the tendency is to issue more certificates than there is gold. If everyone attempted to cash in and take their gold, what would happen?

I guess the question is just how much do we trust the US government? Has some politicians managed to make off with the wealth of the nation?

I hope someone took all the gold. It has very limited use.

NEWS FLASH: Your money hasn't been backed by gold for a long time. Now if that makes you want to get rid of all your money then let me know and I'll send you my address. The countries wealth isn't in a vault anywhere !

 

[MrsBrooke]

I hope someone took all the gold. It has very limited use.

NEWS FLASH: Your money hasn't been backed by gold for a long time. Now if that makes you want to get rid of all your money then let me know and I'll send you my address. The countries wealth isn't in a vault anywhere !

It has limited use for now, sure.

But when the ones and zeros backing your paper fiat currency get deleted, you may wish you had some when all you have is $100 in your wallet and bread is $20 per loaf and there are lines wrapped around banks.

People *think* it can't happen here. We think America is somehow immune to the monetary decay caused by central banking.

The Dow went up $3 yesterday? Must have been slow in the market. Lulz.

MrsB

 

[rufus]

Sorry Dennis, I have neither gold nor dollars. I have been cleaned out by the IRS. Notice when you put the and irs together it makes theirs.

 

[rufus]

If you check the Kitco gold chart, you will see that gold went to $1305, and sure enough, when the bureaucrats on the east coast got to work and had their coffee gold dropped to $1287. Let's watch this for a while.

Who is buying this gold? Chinese or Mr. Putin?

 

[frenchblackcopper]

Gold "certificates" in a realtime depression has the value of the paper they are printed on.Much as the US Dollar has had for the past 25 years. When was the last time they opened the vaults at Fort Knox? 30-40 Years ago? And that took a lot of pressure and gave uncle sam time to haul gold in before reporters and congressman were allowed inside to see the stockpile. In a real time depression who would want to actually posess gold boullion or coins? Who could make change and what would they give you as change back? First person in our town that paid with pure gold and the word got out,soon you would have every low life at your place with a gun at your head looking to rob you.
Our state just enacted the conceal-carry law last year. One thing I find interesting is one country in europe has allowed every citizen the right to carry a gun on their person for decades and this country also has zero crime rate. Now in an all out survive or become fodder situation everyone will have guns. There will be little if any law enforcement in the very early stages when this hits. People by the droves will leave the cities and head to better areas of oppurtunity. Be it for food,or for a more secure thought of life,,but they will come. Us fortunate to live in the rural areas and capable of growing a garden and raising small livestock will be of great interst to a displaced family looking for a chicken meal over a hot campfire. At what point do you then decide to defend whats yours? Over the value of a chicken or rabbit? Or over 2-3 pounds of potatoes you have growing in your garden? When it comes down to this, stealing is still a crime. But are we expected to open our arms and allow all the thugs that wanders in to clean us out?

 

[rufus]

In difficult times, small silver change and the real copper penny will be the best currency. The dollar is done for, and those that live off of the system will come looking for food and other goods. Those of us that have prepared may become targets. Or the government may confiscate everything to support those needy folks (the bureaucrats).

History tells us that the last to starve are the government people. The peasants manage to eke out an existence, but it is not an easy existence.