Comments on: After the Dollar http://whiskeyandgunpowder.com/after-the-dollar/ Whiskey and Gunpowder features articles on gold, oil, currencies, emerging markets, energy, and more. Sun, 20 May 2012 11:48:31 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: rancherlady http://whiskeyandgunpowder.com/after-the-dollar/comment-page-1/#comment-1731 rancherlady Wed, 15 Apr 2009 20:43:21 +0000 http://whiskeyandgunpowder.com/?p=3961#comment-1731 Very deep thanks, Mr. McCabe. A marvelous presentation, and a real relief since I had been meaning to write just such an article myself and wouldn't have done nearly as well! A couple of days ago I started with someone's calculation that the physical gold putatively held by the US was worth $269 BN at a thousand an ounce, which is not the current price, posited $31 BN in silver lying around just to make the math easy for those who can't do such things in their heads, and I began whimpering when considering just the $2 TN owed to China and the recent $1 TN created out of thin air. Not even taking into account the other trillions of FRNs littering the planet, just paying off China and a bail out or two would require dividing $3 TN by $300 BN and adjusting the price of gold upwards/revising the dollar downward just a tad. Just to swap even on "minor" debts would require devaluing our currency to a point where the entire world would descend upon us via armada, ballistic missiles, boat people, and swarms of bankers armed with pitchforks. Wedding rings would be replaced by lifesavers and earrings with plastic because it would be worth your life to appear in public with a genune fortune on ears and fingers. I soothed myself by buying more silver. Very deep thanks, Mr. McCabe. A marvelous presentation, and a real relief since I had been meaning to write just such an article myself and wouldn’t have done nearly as well!

A couple of days ago I started with someone’s calculation that the physical gold putatively held by the US was worth $269 BN at a thousand an ounce, which is not the current price, posited $31 BN in silver lying around just to make the math easy for those who can’t do such things in their heads, and I began whimpering when considering just the $2 TN owed to China and the recent $1 TN created out of thin air. Not even taking into account the other trillions of FRNs littering the planet, just paying off China and a bail out or two would require dividing $3 TN by $300 BN and adjusting the price of gold upwards/revising the dollar downward just a tad. Just to swap even on “minor” debts would require devaluing our currency to a point where the entire world would descend upon us via armada, ballistic missiles, boat people, and swarms of bankers armed with pitchforks.

Wedding rings would be replaced by lifesavers and earrings with plastic because it would be worth your life to appear in public with a genune fortune on ears and fingers.

I soothed myself by buying more silver.

]]> By: froggy http://whiskeyandgunpowder.com/after-the-dollar/comment-page-1/#comment-1632 froggy Wed, 08 Apr 2009 07:54:02 +0000 http://whiskeyandgunpowder.com/?p=3961#comment-1632 David, I agree with you. If goverment's give up their currency they lose their power. I have this theory that the currency of a country is backed by it's military. Without the one the other is worthless. The military is essential in the equation as the force to keep the population in control. We can see an extreme example of this in Zimbabwe where the military had to be used to keep the population in control when they saw their hard earned ZIM dollars evaporating by the minute. And as you know the population has left the country, it was the only way that the people of Zimbabwe survive. It appears now theres an active program to suppress the value of gold by western governments. At the G20 meeting it was decided that they the IMF needs to sell all it's gold reserves and distribute as aid to third world country's in dollars. I believe a sudden spike in the gold price is going to trigger panic as everyone doubts the long term viability of the dollar. So they the Americans and the rest of the world is actively going to suppress the gold price and support their currencies. It is going to be interesting to what extent they are going to get this right, will they succeed better than Mr Robert Mugabe? Will they use their military to enforce their strategy on the people? David, I agree with you. If goverment’s give up their currency they lose their power. I have this theory that the currency of a country is backed by it’s military. Without the one the other is worthless. The military is essential in the equation as the force to keep the population in control. We can see an extreme example of this in Zimbabwe where the military had to be used to keep the population in control when they saw their hard earned ZIM dollars evaporating by the minute. And as you know the population has left the country, it was the only way that the people of Zimbabwe survive.

It appears now theres an active program to suppress the value of gold by western governments. At the G20 meeting it was decided that they the IMF needs to sell all it’s gold reserves and distribute as aid to third world country’s in dollars. I believe a sudden spike in the gold price is going to trigger panic as everyone doubts the long term viability of the dollar. So they the Americans and the rest of the world is actively going to suppress the gold price and support their currencies. It is going to be interesting to what extent they are going to get this right, will they succeed better than Mr Robert Mugabe? Will they use their military to enforce their strategy on the people?

]]> By: Bill http://whiskeyandgunpowder.com/after-the-dollar/comment-page-1/#comment-1629 Bill Wed, 08 Apr 2009 00:18:17 +0000 http://whiskeyandgunpowder.com/?p=3961#comment-1629 This of course might lead to an increase in barter exchanges with small (100,000 or fewer) memberships, much like the ones we see today, trading goods or services for an agreed value, but without currency. governments would hate this as they are more difficult to regulate and tax. This of course might lead to an increase in barter exchanges with small (100,000 or fewer) memberships, much like the ones we see today, trading goods or services for an agreed value, but without currency. governments would hate this as they are more difficult to regulate and tax.

]]> By: Ken http://whiskeyandgunpowder.com/after-the-dollar/comment-page-1/#comment-1618 Ken Tue, 07 Apr 2009 21:00:45 +0000 http://whiskeyandgunpowder.com/?p=3961#comment-1618 Nice work, Mr. McCabe. Reminds me of the end of Rothbard's _The Case Against the Fed_, except that at the time Rothbard wrote, the revaluation would have put gold at something like $1550/oz, if memory serves. :-) I suspect you're right about the IMF-issued currency, if they can make it stick. Nice work, Mr. McCabe. Reminds me of the end of Rothbard’s _The Case Against the Fed_, except that at the time Rothbard wrote, the revaluation would have put gold at something like $1550/oz, if memory serves. :-)

I suspect you’re right about the IMF-issued currency, if they can make it stick.

]]> By: After the Dollar | CoinPack.Com http://whiskeyandgunpowder.com/after-the-dollar/comment-page-1/#comment-1613 After the Dollar | CoinPack.Com Tue, 07 Apr 2009 15:48:15 +0000 http://whiskeyandgunpowder.com/?p=3961#comment-1613 [...] Go here to read the rest:  After the Dollar [...] [...] Go here to read the rest:  After the Dollar [...]

]]>