Galt's Gulch

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  • Posted by term2 8 years, 2 months ago
    When the government fools around with money, its only courting disaster. Government should NOT be allowed to demand we accept their "paper money" at all. We need a new stable dollar
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  • Posted by Danno 8 years, 2 months ago
    This is the end game. Never before in the history of humans has currency crises been all over the globe at once. Top->Down thinkers have created a neutron bomb of debt globally!
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  • Posted by $ Stormi 8 years, 2 months ago
    I remember when the "Beverly Hillbillies" used to be so grateful that Mr. Drysdale was keeping their millions in his bank, even apologized one episode when their wealth grew, with more to store. That was really funny, and ridiculous - or so we thought.
    I have pulled nearly all my funds out of Chase, as their banker told me he did not need our money, they had the Federal Reserve. I'll spend it before I will pay them to store it. It all goes back to what Kissinger said in 1976, about control people via control of the banks, food and oil. We are almost at his one world dystopia.
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  • Posted by Blanco 8 years, 2 months ago
    If the rates drop below zero, I'm taking my money out and buying gold with it. Only an idiot would pay the bank to keep their money! Imbecilic Obama and his damnable Federal Reserve have just about destroyed the future of our economy and our dollar. How I long for the gold standard again!
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  • Posted by $ Olduglycarl 8 years, 2 months ago
    Seeing this money thing comes out of thin air...maybe they SHOULD pay us to use it.

    It's not going to fix anything...have to go back to intrinsic value and doing business honestly.
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  • Posted by wootendw 8 years, 2 months ago
    Negative interest rates will induce people to take their cash out of banks. To prevent this, banks are calling for a ban on cash. Better get yours now while you can.
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  • Posted by johnpe1 8 years, 2 months ago
    now, let's see. . I am paying money to store gold in
    an IRA fund, and its value is not increasing to keep up
    with those payments. . is that the meaning of this? -- j
    .
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    • Posted by freedomforall 8 years, 2 months ago
      Are you paying for gold that you own to be stored, or do you own paper promises of gold?
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      • Posted by johnpe1 8 years, 2 months ago
        I am told that it is my physical gold. . I have
        asked that it be sent to me, but the answer
        is in terms of cashing it out of the IRA. -- j
        .
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        • Posted by freedomforall 8 years, 2 months ago
          Do your research on the specific way they hold gold and what excuses they can make to delay redemption. I doubt any of them will actually send you gold as a payout. Personally, I would not trust any wall street firm or bank that issued gold certificates except on a very short term speculative basis. For example:
          http://www.forbes.com/sites/afontevec...
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          • Posted by $ TomB666 8 years, 2 months ago
            You bring to mind the situation in the 70's when many 'investment' firms were selling bags of silver and charging to store it. They said things like "Why pay to ship it and then have to rent a safe box, etc? We'll store it for you." When the market rose and people wanted to cash out to take their profits it was discovered that they did not have the bags of coins they sold.

            I began to do business with "Liberty Coin Service" because he advised me to always take delivery. I've never trusted any one who wanted me to accept a certificate, which is why I was not involved with the "Liberty Dollar".
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            • Posted by freedomforall 8 years, 2 months ago
              Why put it in a safe deposit box? I trust banks less than most other criminals. My home was burgled once but they had no clue of where the valuables were. Banks OTOH know exactly where the valuables are, and will give the contents to the feds on request (per the contract you sign when renting a box.)
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  • Posted by CircuitGuy 8 years, 2 months ago
    One little point that interests me, maybe not relevant to the thesis, is why the storage costs of gold as calculted by the futures market trends downward over the past 20 years. I get that it average 2.4% so if rates approach -2.4%, the banking system will not work. I just wonder why there's a trend in storage costs.
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