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Thread: A much needed history lesson

  1. #11

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    Brandon Brown for president. Hey, a guy that is more interested in doing burnouts in rural mid Atlantic states, rather than engaging in graft & corruption on the international stage, would be a big improvement.

  2. #12
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    Quote Originally Posted by vertical1 View Post
    Or we may, after all these years, be on the brink of the event horizon. However, your point is well taken and helps me keep my financial emotions in check. Thanks
    Anything is possible, and oh yes, it could all come down quickly so it's best to be prepared. I remember reading a quote that said that things long expected can turn out to be surprising when they finally happen - am paraphrasing some with that. I remember reading about the stock market bubble in the late 1990s, with five straight years of 20% plus gains. And then it finally burst. Likewise in 2006-2008, and then the crisis finally occurred. I am prepared for anything - at least I believe so.

  3. #13

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    LongdonSilver wrote:

    Plus reports that gold will be $10,000 in ten years. Same BS as above! About as true as Biden's Amtrak story.

    Gold has gained 5x in dollar terms before, since the dollar was disconnected from gold and silver, that's hardly a radical predicton. May happen, may not.

    Now, I agree, saying the "dollar" will be dead in 10 years is a rather extreme prediction that I think is unlikely, however going down 5x in value over 10 years vs gold is hardly means it will be dead in 10 years, it's already loosing value at such rate vs some other items in the marketplace.


    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  4. #14

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    Quote Originally Posted by aberdeen View Post
    Will the dollar be dead in ten years? No one knows for sure, of course. Why doesn't this guy say that the dollar will be dead in a year or two? But oh no - why not go way out for ten years so people will easily forget if he is wrong. Typical PM commentator/analyst for sure.

    I started reading about doom and gloom and the death of the dollar way back in 2004, and later that same year was on vacation along the southeast coast of Australia. I stopped in a bookstore and guess what the cover story was in their version of Time Magazine? The death of the US dollar. The dollar index was 80 then and now it's 93. Has the dollar died yet? Of course not. Given the historical record, it does seem reasonable to predict its demise, but that may not happened for a long time.



    https://www.kitco.com/news/2021-10-2...20in%205%20yrs
    I recall reading a book back in the late 1980's entitled "The Coming Currency Collapse". Everything that was presented made perfect sense . . . . and I am convinced it will come to pass . . . . . eventually . . . . . . someday.
    "It's the lure of easy money - It's got a very strong appeal." - Glenn Frey (The Smuggler's Blues)

    "A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned." - Thomas Jefferson

  5. #15

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    The thing is, the dollar amount means nothing because who wants $10K of worthless paper money. In the Weimar Republic, they were burning the paper money for cooking and heat.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  6. #16

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    Quote Originally Posted by motocat View Post
    LongdonSilver wrote:

    Plus reports that gold will be $10,000 in ten years. Same BS as above! About as true as Biden's Amtrak story.

    Gold has gained 5x in dollar terms before, since the dollar was disconnected from gold and silver, that's hardly a radical predicton. May happen, may not.

    Now, I agree, saying the "dollar" will be dead in 10 years is a rather extreme prediction that I think is unlikely, however going down 5x in value over 10 years vs gold is hardly means it will be dead in 10 years, it's already loosing value at such rate vs some other items in the marketplace.


    Sorry, if $10K seems too real, so make the number $50,000, $100,000 or 1 million if that gets the point across that gurus spout all kinds of BS that some day, perhaps decades later, will come true.
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  7. #17

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    Debt contracts are locked down in dollars. People with debt win in a hyperinflation scenario...no?
    "Compulsory altruism is none too altruistic." - me

    "All of us necessarily hold many casual opinions that are ludicrously wrong simply because life is far too short for us to think through even a small fraction of the topics that we come across." -- Julian Simon

  8. #18

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    Quote Originally Posted by windweaver77 View Post
    Debt contracts are locked down in dollars. People with debt win in a hyperinflation scenario...no?
    #1 winner is the US government
    Do your own due diligence

    I stand united with my friends & family in Canada who seek freedom.

  9. #19

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    Borrowers will be paying back the note in cheaper dollars. In hyperinflation, you'd want your wages to keep up, that might not be easy.
    Wages aren't keeping up with fuel prices - that affects people most who reside at lower end of income brackets.

    If you have a bundle in the market, and it keeps up (or does better than inflation after cap gains), that's not a bad thing.

  10. #20
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    Quote Originally Posted by LongDonSilver View Post
    Sorry, if $10K seems too real, so make the number $50,000, $100,000 or 1 million if that gets the point across that gurus spout all kinds of BS that some day, perhaps decades later, will come true.

    I would love to see some analyst/commentator say that gold and silver will explode next week or next month. Of course, they always say it will happen in six months at the earliest or maybe a year from now. When it doesn't happen, people will have forgotten about their stupid predictions.

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