The Secret of Oz (by Mr Bill Still)

[jw33]

Watching now, sounds interesting so far...

[SMEGMA STENCH]

What channel?

[Denny]

What channel?

LOL youtube!

It's definately one of the best vids on the subject.

[big_tiger]

Jesus I just watched all this. Some points/Questions I have now.

How can the government (Congress) issuing money really be worth anything? Everyone believing money is worth something makes it worth something?

1:47:xx Is a point I was making back when were bailing banks out. We are borrowing money, to lend money, to a person that we borrow from. LOL it sounds stupid but thats what happened.

I thought the whole "Gold standard" was the government held gold in the exact dollar amount of what paper money is issued? Making sure private banks do not control this is key to a working "Gold Standard." But when it was the gold standard, it was controlled by private banks, and that is why they were able to choke all of the gold out of the country, thus controlling the country. (LMK if I am wrong.)

I don't really know anything about this subject, but if the national debt = Money currently in the market. Wouldn't that also mean that growth in the economy = inflation rate? I mean if the economy grows at a rate of 5%, and inflation is 5% in one year, that really means there was no true growth.

I think I am understanding why Ron Paul doesn't like the Fed.

[Denny]

Jesus I just watched all this. Some points/Questions I have now.

How can the government (Congress) issuing money really be worth anything? Everyone believing money is worth something makes it worth something?

That is exactly correct.

1:47:xx Is a point I was making back when were bailing banks out. We are borrowing money, to lend money, to a person that we borrow from. LOL it sounds stupid but thats what happened.

It's a whole scheme to keep money movement. That is where serious money is made... though the transfer of money.

I thought the whole "Gold standard" was the government held gold in the exact dollar amount of what paper money is issued? Making sure private banks do not control this is key to a working "Gold Standard." But when it was the gold standard, it was controlled by private banks, and that is why they were able to choke all of the gold out of the country, thus controlling the country. (LMK if I am wrong.)

It was up to the banks holding their gold to back it, but when the Fereral Reserve went off of it, then why should the other banks honor it?

The 1933 confiscation was a brilliant move by FDR. A 1oz $20 gold coin could be redeemed for $20.67 and all had to be turned in within a month or so. That was something never heard of back then and sounded like a badass deal, so why wouldn't people do it? Suckers! LOL

I don't really know anything about this subject, but if the national debt = Money currently in the market. Wouldn't that also mean that growth in the economy = inflation rate? I mean if the economy grows at a rate of 5%, and inflation is 5% in one year, that really means there was no true growth.

I think I am understanding why Ron Paul doesn't like the Fed.

Our currency itself is debt. More currency = more debt. More debt = less value of each debt note (weakened dollar). This is why the value of the dollar has dropped 95% since the gold standard ended.

This is also why gold and silver are at all-time highs as of late. Their initial fundamentals have never changed:
- Recognized worldwide as money
- Rare
- Cannot be dupicated
- Expensive and time comsuming to bring out of the ground and mint

Recently, silver has become one of the most industrially demanded metals. It's in almost everything, just do a quick search on industrial silver. With that in mind, silver will only get less and less since about 90% of what is currently mined is set aside for industrial use.

As I post this, Gold is $1600.20 and Silver is $40.00 per ounce. Just wait until the next QE3 coming up. More currency, more debt, less value of that currency.

Ready for the kicker? THIS SHIT IS IRREVERSIBLE! We left the point of no return on that first QE. September 15, 2008 will be looked back as a fuck of a day from now on.

[Denny]

Do you know what to do, yet?

[Broncojohnny]

Don't forget to look at the reality of a gold standard.

Gold and silver are only valuable because people think they are valuable, just like a dollar bill. While they have industrial uses, it isn't like they are going to be extremely useful to the average person in a scenario where money is worthless. I'm not going to build a cell phone with silver and I'm probably not going to hammer a nail with a gold bar. My point is that if society collapses, who says it is only going to collapse to the point where money is not valuable but gold/silver are. Bullets will be more valuable than anything.

Also, while it sounds good to say that taking the country off the gold standard was a bad idea, look at what happened while it was on the gold standard. The money supply couldn't fluctuate unless the government imported gold. Without a flexible money supply and the ability to add liquidity to the system, when there was a financial panic people hoarded money, the banks stopped lending completely and depression resulted. Look at the history of financial markets worldwide in the 1800s to see what I am talking about. Our system today is miles ahead, despite its problems.

[Denny]

Don't forget to look at the reality of a gold standard.

Gold and silver are only valuable because people think they are valuable, just like a dollar bill. While they have industrial uses, it isn't like they are going to be extremely useful to the average person in a scenario where money is worthless. I'm not going to build a cell phone with silver and I'm probably not going to hammer a nail with a gold bar. My point is that if society collapses, who says it is only going to collapse to the point where money is not valuable but gold/silver are. Bullets will be more valuable than anything.

Also, while it sounds good to say that taking the country off the gold standard was a bad idea, look at what happened while it was on the gold standard. The money supply couldn't fluctuate unless the government imported gold. Without a flexible money supply and the ability to add liquidity to the system, when there was a financial panic people hoarded money, the banks stopped lending completely and depression resulted. Look at the history of financial markets worldwide in the 1800s to see what I am talking about. Our system today is miles ahead, despite its problems.

How many ounces of silver for your CTS-V?

[Broncojohnny]

How many ounces of silver for your CTS-V?

Come steal it, I want a 2009 car.

[Denny]

Shit. I thought you had an 09.

I'm seeing more and more 04-05s go in the mid teens.

[big_tiger]

Did the video say that US coins aren't borrowed like paper money? So how is a quarter still only worth 25 cents with the amount of inflation, or does this go into "We believe its only worth a quarter" category?

Couldn't the government issue new tender, in the amount national debt, and that would make the new tender = to the dollar?

It boggles my mind how they are selling this debt crisis, how can we ever pay the debt if the money we use to pay the debt is borrowed money?

[dblack1]

Denny,
I really like Ron Paul but I don't see how he has a chance. He will be 77 when he would take office, and while I know that isn't bad for a man if his health is good, it is still too old. I don't like being ageist, but it is what it is.

[Denny]

Did the video say that US coins aren't borrowed like paper money? So how is a quarter still only worth 25 cents with the amount of inflation, or does this go into "We believe its only worth a quarter" category?

Couldn't the government issue new tender, in the amount national debt, and that would make the new tender = to the dollar?

It boggles my mind how they are selling this debt crisis, how can we ever pay the debt if the money we use to pay the debt is borrowed money?

Pre-1982 pennis are worth almost .03 in ment value and all nickels are just a hair over .07.

[Denny]

Denny,
I really like Ron Paul but I don't see how he has a chance. He will be 77 when he would take office, and while I know that isn't bad for a man if his health is good, it is still too old. I don't like being ageist, but it is what it is.

I'd take 77 year old Ron Paul over any age anyone else right now. There isn't shit out there running right now.

[jw33]

Is his age a factor at a glance? Yes. Should it be the overall determining factor in wheather or not someone should vote for him? Given his stance and record on the issues, I do not think so.

Ron Paul maybe in his 70's, but we are talking about the position of the President of the United States, not the starting forward for the Lakers. Besides that Ron Paul is in fantastic shape for his age and has always been. Quick fact: Did you know he is the only Congressman in history to ever hit an over the fence homerun in the annual Congressional Baseball game? And he is still very active today.