“My first impression is that this Jason Hommel is as frustrated as the rest of us with the fact that the world (essentially US govt.) does not acknowledge gold as money.
His statement: I BELIEVE ARMSTRONG IS SIMPLY A PRODUCT OF THE AGE OF PAPER IN WHICH WE ALL LIVE. reveals to me the denial Jason suffers re the fact that we are all enslaved in the ‘age of paper’ . . .. the operative word being ‘enslaved’ . . . . . & Armstrong’s ‘reality check’ in that circumstance is antithetical to Jason’s ‘ideal’. Knowing that this is not ‘right’ does not change the reality in which we live. I think Armstrong is on to something when it comes to facing this ‘reality’.”
Gold is not official money and you better stop praying it is for they will only come take it away. It is the hedge against corrupt government and it should be FREE never fixed for that is doing what Marx himself tried with Communism – to eliminate the business cycle which is why any fixed exchange rate fails – ie even British Pound v DMark 1992, Asian Currency Crisis 1997 etc.. Unless you have been a major trader, you cannot see reality. Short the hell out of currency that is fixed. If you are wrong, government guarantees there will be no loss. If you are right, you make a fortune! Remember Soros 1992? I warned the Euro Commission the currency would fail. This is also why the Euro is collapsing. I was not being a brilliant forecaster – just a down to earth trader. As long as each member still had their own debt, I could isolate just Greece and short their bonds making it a VIRTUAL currency! This is the REAL world – not dreamland. Money is simply a derivative that in reality trades as a stock in a company. Currency has become valued purely on the whims of confidence in a country. Still want to buy some Greek bonds?
If you cannot see that government is trying to eliminate ALL tangible forms of money and go to electronic debit cards etc, you are blind to what is taking place because you are too focused on a dream that has NEVER taken place! Perpetuate fixed exchange rate killing the business cycle. Kondratieff gave his life because he warn the cycle would defeat the government. They hate my guts for the same reason. They do not like to hear they are noy 120% in control. That is why there is no longer a FREE press. Mainstream media will not publish the truth if it offends government. Look at MF Global!
In the failed bill HR 4646 the original idea was to eliminate the income tax replacing it with a 1% tax on ALL transactions in a bank account. This is not income. This is money flow – a 1% tax on all bank transactions which will include paychecks, retirement checks and Social Security checks. It was designed to get rid of government checks and force everything into direct deposit and eliminate “paper money” and checks to make it easy to tax everything.
Why people are living in the past and cannot see the trend right before their eyes is truly amazing. Even if gold was revalued to $60,000 to match the outstanding debt making the bonds redeemable in gold, that is why Nixon closed the gold window – to stop the redemption that would have drained all gold from the USA. What then? The holder say thanks, here is your worthless bond and we will take all the gold? The gold standard failed because you cannot flat-line the economy.
It also makes no sense to say governments are keeping gold from rallying & that is the conspiracy when in 1971 they were the ones pushing it all higher. So why would they suppress gold now, and sell as much as they can removing even VAT taxes in Europe if they BELIEVED gold was money and were conspiring to keep it down in price? This nonsense is bantered about to explain why they are NOT wrong and gold would be $60,000 but for this conspiracy?
Gold is the REAL hedge against government because it is what will be left in a crisis in the UNDERGROUND economy not the ABOVEGROUND dominated by electronic deposits. Look to coins rather than bullion. To verify the authenticity of a US $20 gold coin, you have to verify the weight and size since the purity is .900 fine. There is NO need to test the metal for the size & weight cannot match using lead or anything else. Each metal has a unique density. Therefore, if the coin has the proper weight, is the correct size, it is gold.
- Dates: Weight: Diameter: Gold:
- 1849 – 1907 33.436 g 34 mm .96750 oz
- 1907 – 1933 33.436 g 34 mm .96750 oz
Bars are more problematic. The AVERAGE person may be unable to determine or trust a bar. A coin can be determined easily and does not require an acid test.
There are just so many people married to this whole fiat nonsense that they are distracted from the truth – it is the debt crisis, not what is or is not money.