[Homestead] More on Gold
bobford79 at yahoo.com
Tue Dec 23 11:04:33 EST 2008
Leslie, I believe you mis-read Dr. Fekets's intenet where he draws upon historical anaylis. He wrote:
"............... causation goes in the opposite direction. The disappearance of gold and silver coins as a means of exchange was a long-drawn-out, cumulative event. In the end, no one was willing to exchange gold and silver coins for the debased coinage of the empire. At that point the empire was bankrupt; it could no longer pay the troops that defended its boundaries against the barbarians threatening with invasion.'......."
That is to say, that the gold and silver still retained their value , in his opinion; but ttheir was nothing left in the fiat system worth the trade value of the gold and silver. And, if we are sitting and waiting for a return of the "dark ages", we desrve whatever we get, anyway. Anyone who now believes things will become 'that bad', should be out with ropes, rifles, pitchforks, and whatever else will kill and maim those in power who would allow such a thing to occur. Most of us think we are witnessing a calamity, but not anything close to a repeat of the 'Dark Ages'.
--- On Tue, 12/23/08, Leslie <cayadopi at yahoo.com> wrote:
> Fekete writes an update on the outlook for the value of
> gold. This one is quite interesting as he talks about what
> happened to gold/silver during/after the collapse of the
> Western Roman Empire and the parallels to today. History
> supports James' points a couple weeks ago that
> gold/silvere will have zero value - the pricing mechanism
> will be gone.
> Fekete warns that gold in backwardation in Dec 2008, is
> warning, is a premonition of what is coming down the road.
> He believes there will be repeated instances of
> backwardation, each more severe than the preceeding, as
> gold/silver go into hiding. Hyperinflation and ultimately
> the collapse of the monetary system - a point where
> gold/silver will not have a value either, because those
> hoarding will not be willing to part with it, until such
> time as confidence in a fiat currency returns.
> After the collapse of the Roman Empire we went into the
> Dark Ages, where payment in gold/silver could not be taken
> for granted - gold/silver went into hiding never to
> re-emerge during the lifetime of the original holders.
> Fekete warns that the disappearance of gold/silver is
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