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Business
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Title: Rise of the Barter Economy and Gold and Silver Currency
Source: [None]
URL Source: http://www.marketoracle.co.uk/Article29066.html
Published: Jul 5, 2011
Author: Peter_Schiff
Post Date: 2011-07-05 14:37:04 by Capitalist Eric
Keywords: None
Views: 75084
Comments: 141

Imagine a day when you go to buy a quart of milk, ask the price, and the cashier says, "that'll be a tenth ounce silver." As the US dollar's decline accelerates, several efforts around the country are trying to make this vision a reality.

Historically, paying for items in silver or gold was actually quite common. We happen to live in an unusual time and place where generations have grown up trading exclusively in paper. While my parents still used dimes made of silver, we have now gone several decades with no precious metals in any of our official coinage. But this system of money by government fiat is unsustainable.

While the practice of bartering precious metals directly for goods and services has continued on a small-scale over the last few decades, the 2000s saw the beginning of organized efforts to revive gold and silver as money.

THE LIBERTY DOLLAR One such effort was spearheaded by an eccentric mintmaster from Hawaii named Bernard Von Nothaus. He called his project the Liberty Dollar, and it centered on privately minted gold and silver rounds as well as deposit certificates for precious metals held in his firm's vaults.

I had many reservations about how the project was implemented - coins were minted with a fixed US dollar amount at which they were supposed to circulate, the dollar amount was well above the spot price of the metal, and authorized "distributors" were allowed to pocket the difference (which often resulted in buyers paying far higher prices for their gold than what they would have paid had they simply bought, say, Canadian Maple Leafs instead) - but I believe Nothaus' idea was a good one, even if the product was over-priced. Tellingly, despite the obvious flaws, public participation grew steadily from 1998 until 2007, when federal agents raided the Liberty Dollar's offices on trumped-up charges of counterfeiting.

Really, they were charging him with competing with the US dollar's monopoly privileges by offering a better product. It's important to note that the case against Nothaus was built around his coins looking similar to official US coinage (though no one actually mistook Liberty Dollars for US currency), and not around encouraging people to use precious metals as circulating money.

DIGITAL GOLD Next came a crop of internet-based currencies backed by gold and silver. Most prominent among them are eGold and GoldMoney. Both were designed to allow customers to open online accounts that were valued in, and backed by, gold and silver bullion.

eGold was perhaps the better known of the two until it, too, was shut down by the US government on charges of money laundering. eGold was positioned more as an online payment system than a means of holding bullion. Due to the anonymous nature of the transactions - it was akin to spending cash - the authorities alleged that it was being used by criminal enterprises to funnel illegal funds. But mostly it was being used by regular people to begin saving and trading in money that holds its value. eGold had a transparent system of annual audits and live transaction screening by any user to keep the system honest. It, too, was growing robustly, and was putting up strong competition against PayPal until the authorities intervened.

GoldMoney, founded by my friend James Turk, has remained in operation by keeping its principal operations overseas and by cooperating fully with onerous US financial regulations. It offers similar services to eGold, but with an emphasis on long-term storage. GoldMoney improves upon traditional storage by locating offshore, offering real-time online account access, and providing extra liquidity. These services do come at a cost, however. Still, over the course of the last decade, GoldMoney has swelled to over $2 billion in assets. Clearly, many people want to trade gold and silver over US dollars.

Digital gold is a niche service, but I think the public's rapid embrace of these projects - none older than ten years - shows that investors are viewing gold and silver as more than mere commodities, but once again seeing them as money. This could signal a paradigm shift back to tradition, which is good news for any precious metals holder.

STRAIGHT UP BARTER While digital currencies are neat, in practical terms, nothing beats the resilience of traditional barter of bullion for goods and services. If you actually own the physical gold and silver that you intend to save or trade, then you can be sure it will be there until you're ready to sell. You don't have to trust anyone except yourself.

In that vein, several efforts have popped up around the country to simply get people trading gold and silver rather than dollars. Since the transactions involved are usually small, such as buying lunch at a local diner, silver is typically the metal of choice.

There are several hotspots for this sort of activity.

Philadelphia has one group, DelValley Silver, that has fostered a local barter market there by encouraging merchants to accept silver coins in addition to dollars. DelValley is also a silver dealer, but they sell privately minted rounds, which can be harder to liquidate than well-known coins like the American Gold Eagle and Canadian Maple Leaf.

Meanwhile, in New Hampshire, many merchants associated with the Free State Project have begun accepting gold and silver at their businesses. Innovation abounds here and the practice of encasing small amounts of silver in laminated cards seems to be the most successful.

Shire Silver encloses silver and gold wire in their cards and measures them in terms of grams. It's much easier to trade a flat, plastic card containing a gram of silver than to carry around a 1 oz coin. However, even their website will admit that the premium on such a small amount of silver makes it less than ideal for investment purposes. Of course, when you're ready to barter, they'll be happy to take your 1 oz rounds in return for some Shire Silver. And that Shire Silver is being accepted by more and more merchants across New Hampshire and beyond.

Another variation, from a group based in Phoenix, Arizona, encloses a pre-1965 US dime inside the laminated card. Before '65, every dime contained 90% silver, making them worth about $2.50 each in today's debased dollars. That's why you won't find any pre-'65 dimes in your change from the grocery store. However, one fellow had the clever idea of putting them in these cards so they could trade at their silver value without getting mixed in with the worthless dimes we carry around today. The same group even created a free iPhone app that translates US dollar prices into various amounts of silver (more info here).

While I'll still be selling regular old bullion coins and bars at Euro Pacific Precious Metals, because these are the best way to invest in physical precious metals, I am energized by these efforts. The great thing about holding and bartering physical precious metals is that there is no central company running the operations, like with the digital gold currencies, and therefore there's no single person the government can go after.

(My new offshore bank, Euro Pacific Bank, Ltd., will soon be offering Visa-branded debit cards back by individual holdings of gold or silver. Euro Pacific Bank customers will be able to purchase gold from the bank, have it stored, and then access their holdings directly using their Visa cards to either make purchases though merchants or withdraw cash from banks and ATMs. Unfortunately, due to the reasons described above, I cannot offer this service to US customers. For more information about my offshore brokerage and banking companies, please visit www.europacintl.com.)

THE WRITING IS ON THE WALL Besides these grassroots efforts at building barter communities, I'm seeing a cultural shift in favor of precious metals. Utah recently passed a law establishing gold and silver as legal tender and abolishing state capital gains taxes on their appreciation. I was interviewed for a new animated film called Silver Circle that features a rebel group in the near future which mints silver coins in defiance of an even more aggressive Federal Reserve. More and more people are starting to watch the gold price as often as they watch the Dow.

Overall, this bodes well for our investments and for our country. If gold and silver are successfully re-monetized, our children may know a rate of economic growth not seen since our great-grandparents were in their prime. And prices may never return to today's levels again.

Regards,
Peter Schiff

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#74. To: Fred Mertz (#48)

A guy I know about two miles down the road did something similar. He claims to have had a long term e-mail relationship with this woman from the Philippines, 20 years younger than him.

Maybe the rules are different for the Philippines than for Russia because the Philippines used to be a US protectorate?

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   16:44:39 ET  Reply   Trace   Private Reply  


#75. To: mininggold (#50)

There are oodles of sites on the internet proudly proclaiming to offer "mail order brides".

There are also oodles of sites on the internet offering you millions of dollars in commissions if you will help them smuggle cash out of their country.

Hey,if you can't trust the internet to be truthful,who CAN you trust?

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   16:46:15 ET  Reply   Trace   Private Reply  


#76. To: mininggold (#58)

Are you saying all those third world women in airports coming here on vacation don't actually exist?

Yes,they exist,but it is a LOT more complicated than you buying a ticket and getting on a plane to fly to Rome,for instance. IIRC,they have to have sponsor here (family member,etc) that will sign off on being responsible for them financially while they are here,and a bunch of other stuff,too.

Chances are most of the 3rd world women you see in US airports are coming to see relatives who are US citizens.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   16:49:52 ET  Reply   Trace   Private Reply  


#77. To: sneakypete (#76)

IIRC,they have to have sponsor here (family member,etc) that will sign off on being responsible for them

It's often not harder that even that. The Consulate will them, "you can have the family member comehere." If they can't show that they are financially independent, it can be almost impossible in many cases to be granted a legal visa.

Now, I know I’m not going to change the minds of any of the True Believers…those who read all of Reverend Al’s sermons, and say things like, “You know, global warming can mean warmer OR colder, wetter OR drier, cloudier OR sunnier, windier OR calmer, …”. Can I get an ‘amen’??

no gnu taxes  posted on  2011-07-06   16:56:36 ET  Reply   Trace   Private Reply  


#78. To: Rudgear (#65)

Historically, paying for items in silver or gold was actually quite common.

Yes,and the world was a MUCH less complex place back then. Most people didn't even have money or any need for money. They never traveled more than walking distance from their huts or caves

How does this jibe with the US minting and circulating silver coins up until 1964?

You don't understand the difference between minted coins backed by a government,and raw gold or silver?

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   16:59:45 ET  Reply   Trace   Private Reply  


#79. To: no gnu taxes (#77) (Edited)

IIRC,they have to have sponsor here (family member,etc) that will sign off on being responsible for them

It's often not harder that even that. The Consulate will them, "you can have the family member comehere." If they can't show that they are financially independent, it can be almost impossible in many cases to be granted a legal visa.

That just reminded me that the reverse was also true when it came to Russia in the 90's. I couldn't even get a visa to visit there until Natalia and Vladimir sent me a notarized letter of invitation saying they would be responsible for taking care of me while there.

That was also the reason a lot of guys used marriage agencies to get visas to go to Russia as tourists. The marriage agencies had paid off Russian officials to provide invitations so foreigners could get visas. You had to pay the agency fee to get the visa even if you had no real interest in getting married.

I had forgotten all about that until your post.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   17:03:39 ET  Reply   Trace   Private Reply  


#80. To: sneakypete (#66)

There is a reason you are a Dim,boy.

Heh.

Sounds familiar...

"Go away kid, ya bother me."
-— W.C. Fields --

To LucysIDIOTmom, gobsheit, go56, skippy, bif and dummy-DwarF:

You would rather die than think.
And because you have made this choice, you shall pay the price for being a mindless member of the herd....
They will shear you, until you have nothing left for them to take.
And then they will take your life.
Such is the way of tyrannical governments, like the one you welcome with open arms.
You celebrate your own enslavement, and happily scratch and beg, for each crumb they throw you...

Capitalist Eric  posted on  2011-07-06   17:22:51 ET  Reply   Trace   Private Reply  


#81. To: Fred Mertz, jwpegler (#56)

That is what I saw my from vantage point. He likely worked out the details and money in advance, like you suggest. You seem to have a great deal of knowledge about it. Did you marry one?

Translation: Ok, I was talking out my ass. YOU must be married to one of them damned furiners!

Sad. Better to admit you don't know, and have done with it.

To LucysIDIOTmom, gobsheit, go56, skippy, bif and dummy-DwarF:

You would rather die than think.
And because you have made this choice, you shall pay the price for being a mindless member of the herd....
They will shear you, until you have nothing left for them to take.
And then they will take your life.
Such is the way of tyrannical governments, like the one you welcome with open arms.
You celebrate your own enslavement, and happily scratch and beg, for each crumb they throw you...

Capitalist Eric  posted on  2011-07-06   17:28:13 ET  Reply   Trace   Private Reply  


#82. To: jwpegler (#61)

That's the difference between googling something and having actual experience.

OK, I'll bow to your actual experience.

Skip Intro  posted on  2011-07-06   17:39:57 ET  Reply   Trace   Private Reply  


#83. To: mininggold (#41) (Edited)

I doubt you have the vast experience you claim in all the countries from which mail order brides can be obtained.

Since I never made such a claim, you're lying again.

I differed and I gave my rationale...

You disagreed, because you're are hopeless bimbo, brainwashed about a subject that threatens ALL American women, and so you spout the propaganda. You don't give your "rationale," you give talking points. Grow up.

... as usual you offer nothing but your arrogant edict and patented childish name calling.

I called you on your lies. You're caught. Your attacks are simply to distract from being outed as a liar- again.

No wonder you had to find someone in desperate enough circumstances in life, to put up with your BS.

Now who's doing the name-calling? I divorced my first wife, a 3rd-generation American. She was too materialistic, too much of a drama-queen. She'd say or do anything needed, to be the center of attention in any situation. I literally walked out with the clothes on my back, after I signed over the house, the cars, the horses, everything to her. But I was relieved- it felt like the world had been lifted off of my shoulders.

[I didn't want to put up with her crap any more. She was a miserable excuse for a human being, and being such a drama-queen, I could never trust her to raise children... I didn't know if she'd compete with them for attention.]

Within three months, she was calling me, wanting to meet for lunch, and (eventually) asking for money. Everything I signed over to her, she pissed away.

Unfortunately, she is typical of most American women- greedy, stupid and arrogant. No sense of shame, no sense of family, honor or honesty. No ability to take responsibility for their own actions, and no work ethic.

I decided I can do better. And I did, by finding someone who didn't have all the weaknesses, and was tough and smart.

BEST choice I ever made.

I recommend to all my friends, to look for a woman outside the Western hemisphere. It doesn't guarantee you won't land a ball-cutting bitch... but the odds are a lot lower. And if a fella's really smart, he can avoid that possiblity altogether.

Only a fool would put up with the "what have you done for me lately?" attitude that American women have. Who needs that shit?

Let's be blunt, in general terms:

They're generally more attactive than American women, and are more serious about taking care of themselves. (Forget that shit that, "oh, you have to love me as I am, a 400-# buffalo!")

They're smarter and tougher than American women. If you're stupid in Russia, you're dead. In America, the weak and the stupid are supported by the nanny-state, in return for their vote. [Of course, then, there is no motive to smarten-up, so it makes a nice symbiotic relationship of simpletons supporting each other.}

Americans (and esp. American women) are incredibly stupid about money. Yeah, they have 26 pairs of black high-heels that all look exactly the same, but dammit, they need them all! Oh, they'll also have a closet full of dresses, and a new Lexus or BMW out front- leased. They'll rent a house, but rarely own it. And they're looking for someone who's RICH to make them feel like Cindarella or Julia Roberts in "Pretty Woman." Of course, no guy who gets wealthy by being smart will be sufficiently stupid to marry her.

Americans have no sense of family- not like the rest of the world. Oh, when our folks get old, we'll just send them off to a "retirement home," so we don't have to look at them, talk to them, deal with something as inconvenient as your aged mother! Who wants the hassle? The rest of the world understands that families must work together, help each other, respect each other... American women have NO idea about that. American women will ask their parents, "what have YOU done for me lately," and when the answer is "not much," (ignoring the fact that you wouldn't BE here without them) American women will not want to support their own family...

In every way that matters, ming, your posts demonstrate that you are as wanting as the stereotypical American woman.

It's no wonder, that YOU find my comments so offensive. Indeed, they strike the center of your black and shrivelled heart.

GOOD.

To LucysIDIOTmom, gobsheit, go56, skippy, bif and dummy-DwarF:

You would rather die than think.
And because you have made this choice, you shall pay the price for being a mindless member of the herd....
They will shear you, until you have nothing left for them to take.
And then they will take your life.
Such is the way of tyrannical governments, like the one you welcome with open arms.
You celebrate your own enslavement, and happily scratch and beg, for each crumb they throw you...

Capitalist Eric  posted on  2011-07-06   18:11:32 ET  Reply   Trace   Private Reply  


#84. To: Capitalist Eric, mininggold (#83)

Americans have no sense of family- not like the rest of the world.

Amen,amen,and AMEN! I met Russian women both times I went there that tried to get me to stay and live with them in Russia,but none had any interest in moving to America because their families were in Russia.

And any man who thinks he doesn't have to pass a family inspection and get approval before getting serious with a Russian woman has never met a traditional Russian woman.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-06   18:36:26 ET  Reply   Trace   Private Reply  


#85. To: sneakypete (#67)

That was silver,not gold.

Look it up doofus.

mininggold  posted on  2011-07-06   21:25:39 ET  Reply   Trace   Private Reply  


#86. To: sneakypete (#76)

Yes,they exist,but it is a LOT more complicated than you buying a ticket and getting on a plane to fly to Rome,for instance. IIRC,they have to have sponsor here (family member,etc) that will sign off on being responsible for them financially while they are here,and a bunch of other stuff,too.

No one said it wasn't somewhat complicated and did not require some careful planning and forethought, except for old jwpegler who said it never occurred, but it does happen all the time.

mininggold  posted on  2011-07-06   21:33:00 ET  Reply   Trace   Private Reply  


#87. To: sneakypete (#73)

Ever hear of a one horse town?

This was an example of a colloquialism still in use today from the old days.

Just like mail order brides are still out there today, usually from foreign countries.

It's a phrase, not a technical thing. Capitalist Eric can likely explain it to you.

Fred Mertz  posted on  2011-07-06   23:00:21 ET  Reply   Trace   Private Reply  


#88. To: sneakypete (#75)

There are also oodles of sites on the internet offering you millions of dollars in commissions if you will help them smuggle cash out of their country.

Hey,if you can't trust the internet to be truthful,who CAN you trust?

If you ever bother to read a thread before you put your foot in your mouth you will find where the pegleg stated that there is no such thing as a mail order bride in this day and age. Too bad the rest of the world was not let in on his little secret.

mininggold  posted on  2011-07-06   23:03:49 ET  Reply   Trace   Private Reply  


#89. To: Fred Mertz (#87) (Edited)

s a phrase, not a technical thing. Capitalist Eric can likely explain it to you.

LOL One horse town..usually a town most people would rather not be in.

But between SP and Erica they'll used up the rest of the bandwidth posting their superior wisdom and still say nothing.

Sorry about your dog. You sound like a thoughtful owner and she was lucky to have you.

mininggold  posted on  2011-07-06   23:13:22 ET  Reply   Trace   Private Reply  


#90. To: mininggold (#89)

I just posted a thread with the explanation as most people understand it. You left out jwpegler.

Fred Mertz  posted on  2011-07-06   23:16:24 ET  Reply   Trace   Private Reply  


#91. To: Fred Mertz (#90)

You left out jwpegler.

He doesn't care as he has his own set of facts and nothing else matters.

mininggold  posted on  2011-07-06   23:18:51 ET  Reply   Trace   Private Reply  


#92. To: mininggold (#89)

You sound like a thoughtful owner and she was lucky to have you.

She IS lucky to have me and I her. Your advice from last September - 8 months ago - I'm certain helped extend her happy life. We went on a long walk today as compared to previous nights. She might last months rather than weeks - we'll see.

Fred Mertz  posted on  2011-07-06   23:24:32 ET  Reply   Trace   Private Reply  


#93. To: Capitalist Eric (#81)

Sad. Better to admit you don't know, and have done with it.

No wonder every one thinks you're an a-hole. Piss off and I'm glad you and your mail-order bride's arrangement worked out so far.

Fred Mertz  posted on  2011-07-07   0:08:06 ET  Reply   Trace   Private Reply  


#94. To: mininggold (#85)

Look it up doofus.

I don't have to look it up,dummy. I have friends who are still crying about it.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-07   0:17:22 ET  Reply   Trace   Private Reply  


#95. To: mininggold (#88)

If you ever bother to read a thread before you put your foot in your mouth you will find where the pegleg stated that there is no such thing as a mail order bride in this day and age. Too bad the rest of the world was not let in on his little secret.

Blah,blah,blah. If you had an actual mind you would realize you are full of shit.

For example,I can call YOU a Buick,but I can't drive you to work.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-07   0:19:23 ET  Reply   Trace   Private Reply  


#96. To: sneakypete (#64)

Yes. Who would YOU trust to guarantee the purity,a established government,or Saul the pawnbroker?

Anyone who deals in scrap metal is able to test for purity.

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-07   0:29:56 ET  Reply   Trace   Private Reply  


#97. To: Capitalist Eric (#83)

You really are a very angry man.

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-07   0:39:18 ET  Reply   Trace   Private Reply  


#98. To: Capitalist Eric (#83) (Edited)

I recommend to all my friends, to look for a woman outside the Western hemisphere.

Are you suggesting that I should seek a mail-order bride?

Fred Mertz  posted on  2011-07-07   0:44:01 ET  Reply   Trace   Private Reply  


#99. To: lucysmom (#96)

Yes. Who would YOU trust to guarantee the purity,a established government,or Saul the pawnbroker?

Anyone who deals in scrap metal is able to test for purity.

And that changes what I wrote in what way?

BTW,I have been to several scrap dealers to sell scrap. I sold about 60 lbs of aluminum to one two days ago. I have never seen one that buys gold or silver.

"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)

sneakypete  posted on  2011-07-07   6:33:06 ET  Reply   Trace   Private Reply  


#100. To: Skip Intro (#82)

OK, I'll bow to your actual experience.

It would be beneficial to you, if you did that more often.


"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899

jwpegler  posted on  2011-07-07   8:20:03 ET  Reply   Trace   Private Reply  


#101. To: sneakypete (#94) (Edited)

I don't have to look it up,dummy. I have friends who are still crying about it.

Then your friends will probably repeat their mistakes, but that's what those who CHOOSE to remain ignorant keep doing over and over and over. Soon to be snookered by the next scheme from the next generation of oil guys. You guys are so easy. LOLOL

mininggold  posted on  2011-07-07   11:53:56 ET  Reply   Trace   Private Reply  


#102. To: jwpegler, Skip Intro (#100)

It would be beneficial to you, if you did that more often.

Anecdotal evidence hardly proves the norm.

mininggold  posted on  2011-07-07   11:56:27 ET  Reply   Trace   Private Reply  


#103. To: sneakypete (#99)

BTW,I have been to several scrap dealers to sell scrap. I sold about 60 lbs of aluminum to one two days ago. I have never seen one that buys gold or silver.

My two local scrap dealers will buy both as will every jewelry and coin store in town. Every gold show, and most gun and sports shows have a gold dealer that will give top dollar. Plus bars are a great place to get the very best prices.

mininggold  posted on  2011-07-07   12:01:50 ET  Reply   Trace   Private Reply  


#104. To: mininggold (#102)

Anecdotal evidence hardly proves the norm.

I assumed from his claimed personal knowledge of the subject that he ordered his wife this way.

If he didn't, then he's just full of shit.

Skip Intro  posted on  2011-07-07   12:05:07 ET  Reply   Trace   Private Reply  


#105. To: Skip Intro (#104) (Edited)

I assumed from his claimed personal knowledge of the subject that he ordered his wife this way.

If he didn't, then he's just full of shit.

If he didn't at least it appeared to be an avenue he considered.

These guys are so full of themselves with their obsessive need to be seen as experts, that they fall into their own traps very easily.

mininggold  posted on  2011-07-07   12:06:58 ET  Reply   Trace   Private Reply  


#106. To: mininggold, sneakypete, jwpegler, lucysmom, mininggold (#89)

mininggold: But between SP and Erica they'll used up the rest of the bandwidth posting their superior wisdom and still say nothing.

Between pegler, sneakypete and myself, we've explained a lot about the subject you're knee-jerking about. That you refuse to accept those explanations is strictly your problem.

Fred Mertz to JWPegler: That is what I saw my from vantage point. He likely worked out the details and money in advance, like you suggest. You seem to have a great deal of knowledge about it. Did you marry one?

Me: Translation: Ok, I was talking out my ass. YOU must be married to one of them damned Afuriners!" Sad. Better to admit you don't know, and have done with it.

Fred Mertz: No wonder every one thinks you're an a-hole. Piss off and I'm glad you and your mail-order bride's arrangement worked out so far.

Equally sad. You talk out your ass, on a subject where your only source of information is the MSM, and make yourself look like an idiot. You get caught, and try to cover that by insulting the person, instead of having any sense of class, and simply bowing out of the discussion. Tacky. When I point this out to you, then I am the ass-hole? LOL. Get OVER yourself, grandpa. Your views- when based on the MSM propaganda- are worth a squirt of warm piss. Oh, and your continued insults after the fact, simply reconfirm that YOU are the ass-hole.

LucysIDIOTmom: You really are a very angry man.

Typical response from a leftist sheeple. Oh, you're suffering from something... It's a sad attempt to minimize the facts of what I've posted. To actually accept such facts, would force you to consider that the truth may not be what you were brainwashed to think.

And I'm not angry. As my mother has stated, I've "no tolerance of fools."

Capitalist Eric: I recommend to all my friends, to look for a woman outside the Western hemisphere.

Fred Mertz: Are you suggesting that I should seek a mail-order bride?

Where did I ever suggest you were my friend?

mininggold: The gold run was part of the Hunt brother's fiasco
sneakypete: That was silver,not gold.
minggold: Look it up doofus.

From wikipedia: (Redirected from Hunt brothers)

Nelson Bunker Hunt (born February 22, 1926) is an American oil company executive. He is best known as a former billionaire whose fortune collapsed after he and his brother William Herbert Hunt tried but failed to corner the world market in silver.

ming, is there anything that you don't get wrong?

Fred Mertz: ...mail order brides are still out there today, usually from foreign countries. It's a phrase, not a technical thing.

Bullshit. After having the facts presented to you, you insist on using "a phrase" meant to malign any who would reject American women. This "phrase," BTW, was pushed by the feminist organizations, who saw such ideas as a threat to their primacy. The term was a sound-bite description, which told nothing of the truth, but was easily accepted by the stupid and ignorant public.

To LucysIDIOTmom, gobsheit, go56, skippy, bif and dummy-DwarF:

You would rather die than think.
And because you have made this choice, you shall pay the price for being a mindless member of the herd....
They will shear you, until you have nothing left for them to take.
And then they will take your life.
Such is the way of tyrannical governments, like the one you welcome with open arms.
You celebrate your own enslavement, and happily scratch and beg, for each crumb they throw you...

Capitalist Eric  posted on  2011-07-07   12:12:20 ET  Reply   Trace   Private Reply  


#107. To: Capitalist Eric (#106)

Blah blah blah

I'm not wading through your Asperger's type presentation, look up Hunt brothers and gold for a start.

mininggold  posted on  2011-07-07   12:15:15 ET  Reply   Trace   Private Reply  


#108. To: mininggold (#107)

Blah blah blah I'm not wading through your Asperger's type presentation,

No, I'm sure FACTS are too difficult for a stupid bitch like you to deal with.

look up Hunt brothers and gold for a start.

Oh, like HERE?

The Hunt Brothers and the Silver Bubble
Brian Trumbore
President/Editor, StocksandNews.com

In 1973, the Hunt family of Texas, possibly the richest family in America at the time, decided to buy precious metals as a hedge against inflation. Gold could not be held by private citizens at that time, so the Hunts began to buy silver in enormous quantity.

In 1979 the sons of patriarch H.L. Hunt, Nelson Bunker and William Herbert, together with some wealthy Arabs, formed a silver pool. In a short period of time they had amassed more than 200 million ounces of silver, equivalent to half the world's deliverable supply.

When the Hunt's had begun accumulating silver back in 1973 the price was in the $1.95 / ounce range. Early in '79, the price was about $5. Late '79 / early '80 the price was in the $50's, peaking at $54.

Once the silver market was cornered, outsiders joined the chase but a combination of changed trading rules on the New York Metals Market (COMEX) and the intervention of the Federal Reserve put an end to the game. The price began to slide, culminating in a 50% one-day decline on March 27, 1980 as the price plummeted from $21.62 to $10.80.

The collapse of the silver market meant countless losses for speculators. The Hunt brothers declared bankruptcy. By 1987 their liabilities had grown to nearly $2.5 billion against assets of $1.5 billion. In August of 1988 the Hunts were convicted of conspiring to manipulate the market.

One other experience in the silver bubble worth noting, according to author Edward Chancellor ("Devil Take the Hindmost"), is the experience of an official at the Peruvian Ministry of Commerce, employed to hedge his country's silver production, who lost $80 million by illicitly selling silver short. Said Chancellor, "Although a relatively small sum for a sovereign nation, it was an omen: the 'rogue trader' had appeared on the modern financial scene." The stock market had its own troubles during the rise and fall of silver. The Dow Jones peaked on February 13, 1980 at 903.84. The day of the collapse, March 27th, the Dow closed at 759.98, a decline of 16% in just 6 weeks. [However, intraday, the loss between the 2/13 high of 918.17 and the 3/27 intraday low of 729.95 was actually 20%.]

For many traders the collapse in silver was the final straw for a stock market already under siege from worries as diverse as the Iranian hostage crisis, the Russian invasion of Afghanistan and soaring interest rates. [The consumer price index climbed at a 13% rate for 1979. The prime lending rate hit 22% in early 1980]. But by the year's end, the whole decline was almost forgotten. The Dow ended the year at 963.99, thanks in large part to the euphoria over the election of Ronald Reagan.

To LucysIDIOTmom, gobsheit, go56, skippy, bif and dummy-DwarF:

You would rather die than think.
And because you have made this choice, you shall pay the price for being a mindless member of the herd....
They will shear you, until you have nothing left for them to take.
And then they will take your life.
Such is the way of tyrannical governments, like the one you welcome with open arms.
You celebrate your own enslavement, and happily scratch and beg, for each crumb they throw you...

Capitalist Eric  posted on  2011-07-07   14:56:36 ET  Reply   Trace   Private Reply  


#109. To: Capitalist Eric (#108) (Edited)

Oh, like HERE?

I guess all those 800 dollar an ounce Kruggerrands and Maple leafs sold by the hundreds of thousands in the early eighties were just a coincidence since the price of gold never correlates to the price of silver in your world. You are sure stupid for being a capitalist, since you seem so totally unaware of 'cause and effect'. Why do you think the US Mint started selling gold coins, dummy?

mininggold  posted on  2011-07-07   15:03:46 ET  Reply   Trace   Private Reply  


#110. To: mininggold, sneakypete (#109) (Edited)

I guess all those 800 dollar an ounce Kruggerrands and Maple leafs sold by the hundreds of thousands in the early eighties were just a coincidence...

A completely irrelevant response. The Hunt brothers were pretty-much done by the end of 1980.

When caught in another lie, you run straight to the Rules of Disinformation:

#4. Use a straw man. Find or create a seeming element of your opponent’s argument which you can easily knock down to make yourself look good and the opponent to look bad. Either make up an issue you may safely imply exists based on your interpretation of the opponent/opponent arguments/situation, or select the weakest aspect of the weakest charges. Amplify their significance and destroy them in a way which appears to debunk all the charges, real and fabricated alike, while actually avoiding discussion of the real issues.

#9. Play Dumb. No matter what evidence or logical argument is offered, avoid discussing issues with denial they have any credibility, make any sense, provide any proof, contain or make a point, have logic, or support a conclusion. Mix well for maximum effect.

#13. Alice in Wonderland Logic. Avoid discussion of the issues by reasoning backwards with an apparent deductive logic in a way that forbears any actual material fact.

20. False evidence. Whenever possible, introduce new facts or clues designed and manufactured to conflict with opponent presentations as useful tools to neutralize sensitive issues or impede resolution. This works best when the crime was designed with contingencies for the purpose, and the facts cannot be easily separated from the fabrications.

You're an expert on the "play dumb" strategies, though it's starting to look like you don't "play" at it...

Thanks for entertaining me. Your wild attempts to cover your stupidity, once again, have failed.

*PING*, Sneaky... I thought you might enjoy seeing the bimbo put in her place- again.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-07   18:03:21 ET  Reply   Trace   Private Reply  


#111. To: Capitalist Eric (#106)

And I'm not angry. As my mother has stated, I've "no tolerance of fools."

You say that like it's a good thing.

Your words are that of an angry, and now we can add intolerant, man. The source of your trouble with American women is not the women, but your lack of emotional intelligence.

Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized.

lucysmom  posted on  2011-07-07   18:56:18 ET  Reply   Trace   Private Reply  


#112. To: lucysmom (#111)

You say that like it's a good thing.

It is. It keeps me focused on what matters.

People who are ignorant, but willing to learn, I'll teach.

Those that refuse to learn are a waste of time.

Your words are that of an angry, and now we can add intolerant, man.

From The Great Lie of Partisan Tolerance

The Free Dictionary defines ‘tolerance‘ as follows.

tol·er·ance

1. The capacity for or the practice of recognizing and respecting the beliefs or practices of others.

That’s what tolerance used to mean, before Orwellian progressives performed their cunning linguistic tricks on it. Now the class-obsessed left has divided tolerance into two classes: partisan (good) and repressive (bad). The dirty secret is that both their meanings are identical and neither one is real tolerance.

It all started with Herbert Marcuse, the Marxist theoretician, who decried “repressive tolerance” that doesn’t take sides (or maybe it takes the side of tradition. This is confused in the essay.) and advocated its replacement with “partisan tolerance” that takes sides against the status quo, which means taking sides against anyone who isn’t a partisan “victim,” or even better an actual outlaw.

In other words, you "progressives" (i.e., socialists) paint "tolerance" as a good thing, and tradition as "bad." The full explanation is at the link.

Bottom line, to be described by you and your ilk as "intolerant," is a compliment.

The source of your trouble with American women is not the women, but your lack of emotional intelligence.

Hmmm... A paradoxical statement... the "lack of emotional intelligence" that you describe, is something I did suffer from in the past. But I smartened up a LOT, after divorcing my ex-wife.

Gaining the "emotional intelligence" you speak of, is what finally made me comprehend that American women- generally speaking- are stupid and greedy. That intelligence and the accompanying wisdom, is what made me realize, "I could do better."

And I did.

“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
-- Joseph Goebbels --

The State can no longer hide the consequences of their 100-year lie. VERY interesting times are ahead.

Capitalist Eric  posted on  2011-07-07   19:14:28 ET  Reply   Trace   Private Reply  


#113. To: mininggold (#107)

I'm not wading through your Asperger's type presentation ...

I think you're on to something. Definitely autistic leanings.

-------------------------------------
Whatcha lookin' at, butthead
Why don't you make like a tree and get out of here?

Biff Tannen  posted on  2011-07-07   22:49:52 ET  Reply   Trace   Private Reply  



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