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So Simple A Caveman Would Own It

May 16, 2012 by  

So Simple A Caveman Would Own It
The gold market is so thin that it won’t take much buying to push the price of bullion to $2,500 per ounce.

The arrogance on Wall Street always amazes me. I have lived through three stock market crashes, one rolling recession, near hyperinflation and what was almost an economic depression. In all those cases, Wall Street was caught unaware. People who manage financial institutions were incredulous as the events transpired.

The Street’s ignorance was on full display this month when Warren Buffett’s top investment adviser Charles Munger explained that gold is a useless relic.

On May 4, the eve of the Berkshire Hathaway annual meeting, Munger, age 88, said: “Gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939, but I think civilized people don’t buy gold, they invest in productive businesses.”

Munger thinks people should either be facing a Nazi occupation or else be as stupid as cavemen in order to purchase gold. If this reminds you of the Geico cavemen commercials, you won’t be surprised that Munger is big on investing in that company.

Munger said he loves Berkshire Hathaway’s portfolio, which includes Burlington Northern railroad, specialty chemicals firm Lubrizol and insurance giant Geico.

“We just have a wonderful portfolio in business, if you average them out,” Munger said. “By and large they’re doing productive, useful work.”

So confident are Buffett and his associates on Burlington Northern that in 2009, Berkshire Hathaway bought the company for $34 billion. This is just one example of Buffett’s showing faith in Barack Obama’s management of America’s economy.

Buffett and Munger forgot to consider that Berkshire Hathaway’s portfolio is mostly traded in U.S. dollars. Perhaps Munger slept through the past decade. Only that would explain how he missed the worst bear market ever for the U.S. dollar and one of the biggest bull markets for gold.

When I began as the editor for Outstanding Investments in the autumn of 2000, I urged subscribers to load up on gold. Bullion was then trading for less than $280 per ounce. Today, it trades at about $1,600 per ounce.

During those same years, the value of the dollar has gone to hell. The evidence in the graph below shows the greenback’s dreadful decline.

The U.S. Dollar Index

Munger doesn’t seem to understand that when the dollar declines, even against other currencies, the purchasing power of the dollar declines. Even if we accept the Federal government’s cooked books on the Consumer Price Index, what cost $100 in 2000 costs $133 today.

Burlington Northern stock has gone from $25 per share in 2000 to $100 per share now (in large part because of the spike caused by the Berkshire Hathaway purchase). But you have to discount one-third of that increase because of the declining worth of the dollar.

Another Obama Term Will Send Bullion Soaring

Munger does not understand what the dollar will face if Obama is re-elected.

In the 1970s, dollar inflation decimated Big Board stocks. The Dow Jones industrial average hit 996 in 1966. That index stood at 742 in 1980, a loss of 25 percent. If you factor in the decline of the dollar’s purchasing power, the DJIA was really 321 in 1966 dollars. Over those 14 years, the DJIA lost more than two-thirds of its value.

Uncivilized people like my father got his subscribers into gold starting in 1970 at $35 per ounce; that investment climbed to $850 by January 1980. Using the same inflation calculator, the 1980 price of that gold was $428 per ounce in 1970 dollars. So even in real terms, the price of bullion, bought by cavemen, increased twelvefold.

The Wall Street establishment wouldn’t listen to a word the “gold bugs” said. In fact, my dad, Vern, was a guest on PBS’s “Wall $treet Week with Louis Rukeyser” in the mid-1970s. Rukeyser and his panel openly laughed at my dad’s suggestions that investors should buy gold. One came right out and said such advice was un-American.

While Wall Street investors were losing their shirts, gold investors who followed people like James Dines, Harry Schultz and C.V. Myers made themselves tidy fortunes.

You would think an experienced man such as Munger would remember those times. And given the unprecedented increase in the U.S. money supply over the past three years, men like Buffett and Munger might even think it prudent to put some assets into gold.

Perhaps such men cannot think outside the box. I don’t know. What I do know is that modern money changers refuse to believe that anyone other than a caveman would even consider investing in gold.

Most people listen to the investment establishment. I have a friend who is an accountant. He knows several multimillionaires in Alberta’s oil patch. I asked him not long ago if he thought any of them owned gold. He told me he didn’t believe even one owned a single ounce. That tells me there is a lot of upside to gold prices even though bullion is undergoing a correction right now.

Unfortunately, I think Obama is going to be re-elected. After he is, he will move forward with socialist policies, which will mean even larger Federal deficits. More debt means more dollars, and that means the continued decline of the greenback. If successful people ever get a taste of stagflation (a stagnant economy and higher prices), I think investors are going to invest in precious metals. The gold market is so thin that it won’t take much buying to push the price of bullion to $2,500 per ounce.

They Thought My Mother Was Crazy

There are legions of men and women like Munger in the world. I still remember when I first met one.

It was 1970, and it was legal for Canadians to buy gold. My dad was heavily invested in gold along with his subscribers, and my mother had about $3,000 in savings. I went with her to the Bank of Nova Scotia one day.

The main branch in downtown Calgary had a trading desk. She told the man at the desk that she wanted to take the money out of her savings account and buy 1-ounce gold South African Krugerrand coins.

Gold was trading at $35 an ounce back then. Most people who worked in the financial industry believed that once the United States freed up, the price of gold would fall.

The man at the gold desk looked at my mother as if she were crazy. He tried to convince her that she was speculating with her life savings and that it would be much better if she left it in her account. When my mother insisted she wanted to buy the gold, we were escorted into the branch manager’s office. The manager urged my mother to reconsider her recklessness. When she wouldn’t, he said the bank would not accept the transaction. She then asked the manager to phone my father, who had a much more sizable account with the bank and a much more forceful personality.

I don’t know what my dad said to that bank manager that day; but after a very brief phone call, the manager was happy to help my mother purchase her gold.

I guess it is true what the kid said to me more than four decades ago on the playground: “Myers, you’re a caveman!”

Yours in good times and bad,

–John Myers
Editor, Myers’ Energy & Gold Report

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

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  • Michael J.

    Dear Mr. Myers,
    I appreciate the validity of this article for those with a portfolio to protect. And I can not speak for the rest of PLD participants, but as for a financial nobody like myself, gold does not top my priorities list. My power to purchase is negatively enumerated. In fact, all my assets reside wherever my ass sits, so to speak. For others, diversification into precious metals is the way to go, but for me and probably many others, the only precious metal commodity with guaranteed power to protect is lead. And gold is inedible so that is why I gather, plant and store heirloom seeds.

    Wealthy people may have every day needs taken care of and thus have the time and resources to protect their wealth. But for individuals like myself and I suspect many, many more, the basics are a lot more simple in the event TSHTF.

    #1 – an abundant potable water source

    #2 – a sustainable food source

    #3 – a means of procuring and protecting items number 1 and 2

    • Maryland Freestater

      I myself do not understand how finances work. Therefore, I tend to view things simply – in the case of an economic collapse, which in America would probably also trigger a collapse of our civilization and a nightmare scenario, just HOW will it benefit people to own gold or other precious metals?

      I believe in the bullets, bandaids and bread scenario – can’t eat gold but I can use bullets as a currency, bandaids as a metaphor for no longer obtainable medicines. and bread to eat. I’m also trying to teach myself how to become more able to not only survive said crash, but thrive – make my own electricity, associate with craftsman who could ride out such a crash, and prepare for a post-Apocalyptic society.

      Therefore, od what use is gold, actually, in a society without currency. Currency is at best a physical but arbitrary representation of work hours (time).

      • Tom W.

        Very Well stated there MF!!! But I MUST add, if you don’t know JESUS CHRIST as your PERSONAL LORD and SAVIOR, you are NOT READY for what is gettin’ ready to come upon this WHOLE earth!!! Are you ready?! It’s SOOO simple to be READY! SOOO simple that MOST people can’t handle it!!! That’s why Jesus said that if you didn’t approach Him with the FAITH of a child, that it would be IMPOSSIBLE to enter the Kingdom of Heaven!!!—Mark-10:15,-Luke-18:17&id=413300
        If the rapture were to happen today, I’d be totally in awe if 75% of church members, not to mention the general population of the United States, would be present at that great meeting in the air. (I Thess. 4:16-18) Do You know what the Olivette Prophecies are? Before entering Jerusalem for the last time, Jesus sat on the Mount of Olives and told the Deciples for the third time what was going to befall Him. They just weren’t getting it. But He told them not to worry because He would come again. When asked what would be the signs of His return, He gave them these prophecies. (Matt. ch.24, Mark ch.13, and Luke ch.21) Luke ch.17 also touches a little on the End-time Prophecies. Along with many other Old and New Testament prophecies. Study them! Know them! Memorize them! Is your lamp trimmed and burning? (Matt. 25:1-13) Because if you’re not looking up, (Luke 21:28) you surely to God must be blind!!! (II Cor. 4:3&4) Jesus is coming everybody!!! I pray that you’re ready! If you’re not, you may pray a prayer similar to this: “Dear God, I know that You love me. I admit that I’m a sinner. Please forgive me for my sins. I place my faith in Jesus as my Savior and Lord. Thank You for saving me. In Jesus’ name I pray. Amen.” If you prayed that prayer and meant it with all your heart, know for a certainty that it is impossible for God to lie! (Rom. 10:13) This is what it means to be born-again! (John 3:3) Go find yourself a church, forget about a perfect one, they don’t exist. Surround yourself with Christian friends, they won’t be perfect either, that’s why we need Jesus! Emmerce yourself in Gods’ Word so you’ll know how to fight off ole’ nick. (Eph. 6:13-18) You’re in the Army now, soldier! And now it’s your job to bring as many lost sheep back into the fold as possible. (Matt. 5:14-16) What?! Did you think it was going to be easy? (II Tim. 3:12) God be with you! I wish for everyone who reads this post to know that the writer is a certified Jesus nut with plenty of documentation to prove it!

    • Tom W.

      Very well said Michael J., you can’t eat it! I catch a lot of flack for my posts and some of it is justified and as I have told Bob, I have a whole lot of Peter in me and tend to shoot off at keyboard sometimes when I should stop and give it some thought first, but I can’t help it, no matter how hard I TRY to control myself, but for some STRANGE reason, it was Him who made me that way! LOL!!! With that said, I consider myself an evangelist first and foremost and a wannabe comedian! I BELIEVE that we are livin’ in the VERY LAST DAY’S and are pretty much like the children of Israel when they stood at the base of Mt. Sinai and Moses told them to make up their minds whom they wanted to serve, the gods of the Egyptians or the God of Abraham, Isaac, and Jacob!!! They’re decission would prove to be ETERNAL!!! In the book of Ezekiel, the prophet is prophesying of the last days when he sees the people casting their gold and silver in the streets because it is now worthless!!! (Ezekiel 7:19) Let’s face it, if we go into TOTAL social meltdown, what GOOD is gold and silver?!! They’re EXCELLENT electrical conductors, but will we have electricity?!! You could make like Gollum in “Lord of the Rings” and hide out in some dark hole somewhere caressing it, “Ohh,… my precious!!!”, I know that I’ve posted these verses several times and a few of you I know are tired of LOOKIN’ at them, but you know what that means?!! YOU NEED TO SEE THEM AGAIN!!! I truly believe that they are speakin’ of the day and hour in which we live! Pay special attention to the reason God gives for His SOON intervention!!! How’s your 401K account doin’ these days?! Don’t you wish you could FREELY remove YOUR money from this volatile market?!! I mean, it is YOUR’S, isn’t it?!!! It’s gettin’ sooo bad that EVEN non-believers are askin’ what’s goin’ on!!!

      “Go to now, ye rich men, weep and howl for your miseries that shall come upon you. Your riches are corrupted, and your garments are motheaten. Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days. Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by fraud, crieth: and the cries of them which have reaped are entered into the ears of the Lord of sabaoth. Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter. Ye have condemned and killed the just; and he doth not resist you. Be patient therefore, brethren, unto the coming of the Lord. Behold, the husbandman waiteth for the precious fruit of the earth, and hath long patience for it, until he receive the early and latter rain. Be ye also patient; stablish your hearts: for the coming of the Lord draweth nigh.” – James 5:1-8 (KJV)

      Is your lamp trimmed and BURNING?!! (Matt. 25:1-13) Because if you’re not LOOKIN’ up (Luke 21:28) you SURELY to GOD must be BLIND!!! (II Cor. 4:3&4) Surely you don’t want to be TOLD to go hang out with the GOATS!!! (Matt. 25:31-46) Keep your eyes on the skies, JESUS IS COMIN’! He LOVES y’all and so do I!!!

      • David A Deal

        I’m an atheist so you Jesus talk means NOTHING! Hell we survived The GREAT Depression and all you paranoid types just make me laugh. Often times I think you want to try to make things collapse so you can act superior and say “I told you SO!” This is so unpatriotic and negative. When I die and there is NOTHING but emptiness and blackness I won’t be able to say, “I told you SO!” but I’m fine with that. I embrace the life I have and try to leave a positive mark and refuse to be a part of the conservative haters club!

        • Tom W.

          You’re partially right David, you’ll be in DARK LONLINESS, but you leave out the BEST part!!!

          “Where their worm dieth not, and the fire is not quenched.” – Mark 9:48 (KJV)

      • nc

        Tom, I just read a post of yours about A.Huffington being upset with something Obama said! Was that sort of like Newt saying that Mitt IS a liar or Bachmann saying that Mitt was unelectable or was it Santorum saying MITT was the worst Republican in the country!!! I CAN’T THINK OF ANY THREE PEOPLE WHO WOULD KNOW MITT ANY BETTER! I AM SURE THEY AND THEIR PEOPLE STUDIED EVERY WORD HE SAID VERY CLOSELY! DON’T YOU THINK SO??????? JUST ASKING!!!

        • Tom W.

          I gotta admit nc, ya got me handsdown on this one but ja gotta give it up when Arianna and Oprah both be down off the bandwagon six months out! Women! What cha gonna do?!!

    • JJM

      Remember that PMs are wealth preservation while necessities are insurance. I feel it is important to 1st obtain the ‘bullets, bandaids and bread’ that could sustain and protect for any # of possible natural or man-made problems. My priorities are on items which I would use regardless, sometime in the next 1 to 25 years, if for no other reason than I can buy them now for less than what they will cost in a few short years. Practical items such as are included in ‘bug-out-bags’ can be used for survival OR camping.
      Otherwise, I would rather hold a few pounds of silver or ounces of gold rather than earn less than 1% at the bank. Even if I knew in advance about today’s low prices, I would not have sold my PMs last month.
      Paper is cheap – physical is real.

  • Sirian

    Gold is without doubt one of the most innocuous forms of investment available. Rightly so it is the best financial guard that presently exists with one exception – silver. Many people view gold as being out of reach, price-wise, as well as reserved for the more wealthy. Yet silver too has been climbing at a very steady rate over the past four years and is very much so the “Poor Mans Gold”. It presently remains within reach of everyone so what would be the down side to purchasing as much silver as you can to hold as an additional guard? Silver will provide you with not as much buying power as gold, true, but it will always remain as steadfast as gold and a means to keep your family fed, clothed and at times if necessary, sheltered. Everyone is looking for the “alternative”, well, there you go. Both will survive much longer than the dollar. Which has been around and used the longest? I’m sure you all know that answer. . . :)

    • Tom W.

      If you’re lookin’ at a PURE investment Sirian, look at the price of copper! It has OUTPERFORMED gold seven fold over the same growth period!!!

    • DaveH

      Any hard durable goods that are in demand can protect us against the decline of the dollar’s value.
      Gold is attractive for several reasons — it’s rareness, it’s durability (doesn’t tarnish and there are no known natural substances that can destroy it), it’s beauty, it’s conductivity, it’s malleability, and many other qualities that have attracted people to it throughout history.
      For more:

      • Sirian

        Very good article DaveH. Wonder how many people understand if even think of this as an additional alternative to their 401-K’s? Bullion coins are always, or I should say commonly one troy ounce. The other measures used most people are not all that familiar with. Especially the metric scales. There’s plenty of gold bullion that comes in “grams”. We’ve picked up a few of those smaller ones too. “Junk Silver” is moving real fast now – really fast! HA, even “wheat pennies” are becoming more and more scarce. Those fit into what TomW mentioned about copper too. Again, very good article.

      • DaveH

        Each wheat penny contains 2.95 grams of copper. At today’s copper price ($3.50/lb) that values the wheat penny at over 2.2 cents each.

      • Sirian

        That’s why their scarce – value from not only the copper content but also the coinage period they were produced. Here’s the kicker though Dave. . . if the dollar finally collapses, which it undoubtedly will from the direction we’re heading, then all metals, precious or otherwise will zoom up in value to ridiculous highs for a period of time until economies are fully re-established. One way or the other it will not take place, so to speak, over night. Yet the Keynesians are quite confident that that will never happen. HA, I’ve always found that title, Keynesians, rather amusing since it could easily be used as one of Star Wars alien planets or some “out of the way” foreign country here on Earth. If only our government had adhered more closely to Austrian Economics we more than likely wouldn’t have ended up where we’re at.

    • Sirian

      Quite true TomW, copper is a very good one to hold too!! It will be used to barter for this or that when the time comes, just as much as if not more so than gold & silver. Copper ingots are more easily acquired than most understand too. :)

      • DaveH

        The drawback of copper is that you’d have to lug around 10 lbs of copper just to buy a bag of groceries. For just one month’s worth of salary you’d have to store about 500 lbs of copper.

  • JBandinelli

    Wasn’t it Buffett the one who said ‘it’s a buying opportunity when people are in fear’, Makes me wonder why they are fear mongering, perhaps they want to incite fear so that they can buy buy buy!

  • oldbill

    Gold and silver have done well for me. I have one year’s gross income in gold and one and a half year’s gross income in silver. This year I have doubled my income selling options on ETFs, AGQ and ZSL, even though my portfolio is all over the place. I have made additional income selling cash covered puts on HL and ZSL. I am retired. I have no debt. Social Security pays all of my basic expenses: food, taxes, insurance, clothes, utilities including communitcations and entertainment, etc. My healthcare “insurance” is covered by Medicare and VA. Had I known what I do now, I would have never bought a stock or mutual fund. I would have started putting my money in physical gold and silver right out of high school. I recommend: get out of debt and stay out of debt, own a place to live that is paid for and affordable, have a reserve of five to ten years gross expenses, and learn to enjoy life as much as possible.

    • jopa

      oldbill:If Romney becomes President you can kiss your Medicare, Socialism Security, and VA benefits goodbye.He wants to use the money for these programs to give himself and his buddies on Wall Street another tax cut.

      • Vet

        Hey mouth , prove it. Anybody is better than your obammy, 5 trillion debt for Gods sake get a life !!!

      • Ted Crawford

        Nice try jopa, but most of us are well aware that the greatest threat to Social Security and Medicare are the ones who, given they are aware that their constitutates are mainly clueless about finances, refuse to address the failing systems before it’s too late. M edicare, untouched, will not surive this decade, Social Security might make it a couple more before it too collapses!

      • Kevin

        Wow, I can smell the Kool-aid on your breathe from here. LOLZ!
        You might want to sober up a bit before your spew your liberal garbage around here, no one will buy it.

  • miken25

    Charles Munger was recently interviewed on TV with Buffet and Bill Gates. The interviewer asked Munger why he advised Buffet not to pay attention to the laissez-faire writings of Ayn Rand. He replied that there are ax murderers in laissez-faire and that we need restraints. To think such a thing he would have to believe that there is no government under laissez-faire. Displaying a complete ignorance of a free market and Rand’s writings on it, Mr. Munger is like many so-called pragmatic investors today. They will be looking for something to invest in while walking to the gas chambers or mass graves. IIRC, I saw such a man on one of Glenn Beck’s TV shows. Admitting that the government wants to do away with the automobile for public transportation and have everyone ride bikes to government (public) transportation stations, he advised that the thing to do was to invest in bicycles. Mr. Beck properly buried his head in his hands in utter disbelief. Pragmatism puts blinders on anyone who adopts it as a way of reasoning.

  • dan

    Insurance and the stock market are a scam….gold , silver and commodities (in hand)
    are real. I’m up over 300% on original investment ( I was happier at 500%)

  • Jim K

    I’ve always made money in metals. When I was young people threw away copper. I went to demolition projects and got permission, usually free, to remove the copper (wiring and pipes). this paid for some of my college education. I never had to get a loan. Later in life, I saw scientists throwing away analytical light source cathode ray tubes. These had precious metal electrodes. I collected a sizable amount of platinum and other metals. (NOTE: I never sell to companies that do not pay you for all the metals that you submit) I will go to estate auctions and buy damaged silver serving and place set utensils. I usually end up paying less that 10% of the value of the metals. Right now I have a couple of pounds of silver in my bag and a lessor weight of gold. I’ve bought 14 kt gold rings for as little as a dollar, just because the stone was cracked or missing. That’s about $42 of gold plus what other metals are in the gold. At a minimum that’s over $35 net. This is just a hobby for me; but, I can easily make a few hundred dollars for an Saturday afternoon’s work. Yeah, some people think you have to have a lot of money to make money with precious metals. I love that and take my profits in bullion gold.

  • nc

    Mr. Myers, as a Canadian born you might not see the US as the US born. The sheeple here that you write to and for profess to love our country but do they?? Right now our country needs jobs and needs them badly. Several million of them! How much gold must we buy to create one job HERE rather than MANY in the gold fields of Africa?

    The sheeple here will buy your gold that does not create jobs because they have succumbed to the fear mongers and dropped out to become a society of hoarders!
    Saving America by hoarding gold and digging holes in Arizonia????????????????
    How is that going to save “their” great nation?
    If the dollar fails and the country fails then the gold ain’t worth a can of beans and you are no longer living in the USA as we know it under the Constitution! Want to save the country? Invest in her and not in the gold fields of

    You have nothing to fear but fear itself.

    • DaveH

      Listen to that. A raving fully-Propagandized Progressive calling other people Sheeple. You’re a joke, NC.

      • nc

        Dave H, I have voted for a number of people who have served as President of the greatest nation in the world! Have you? I have also served my country in the military as have a large number of my relatives! I feel that I am as patriotic as any person I have witnessed here.
        I am enslaved to no one! No one has even asked me to do something I feel was unreasonable to live here as opposed to living in any other country in the world! What has you so Pi$$ed off that makes this country so miserable for you to be a part of?
        BTW, I traveled over 500 miles across several states last weekend and DID NOT SEE one consentration camp or one federal platoon dragging innocent citizens from their house or confiscating their propery! WHERE IS THIS TAKING PLACE? Near you?? Do you have pictures of people being held as political prisoners? Really???

        I remember when people as paranoid as you , maybe even you, posted pages of CRIMES they were positive that the Clintons had commited! That was 15 years ago and they are still walking the streets! Writing of conspiracies does not make them so! A little evidence would help instead of just sound bites from the conservative caves!!

    • DaveH

      NC says — “Right now our country needs jobs and needs them badly. Several million of them!”.
      What? How can that be, when your favorite Politicians are controlling the country? I thought that Democrats were good for the economy, NC?
      How come you’re not shouting out your “Bulls, Bears, Donkeys, and Elephants” misinformation, NC?

      • nc

        DaveH, please give me the figures that makes the figures at Bull, bears donkeys and elephants in correct??? Is there another set of figures to prove that the stock market posted wrong figures every day??? Don’t you think SOMEONE would have caught them posting WRONG FIGURES if they did every day?? WHERE ARE YOUR FIGURES OR THE FIGURES THAT THE REPUBLICANS GAVE YOU WHEN THEY TOLD YOU THEY WERE BETTER THAN THE DEMOCRATS?? SURELY THEY GAVE YOU SOME FIGURES TO PROVE THEIR POINT OR DID YOU DO THE CONSERVATIVE THING AND JUST DRINK THEIR KOOL AID!

    • Ladyhawke

      Hello nc,
      There are lots of gold and silver mines in the U.S. and Canada as well as Mexico, South America, Australia, Russia and China. You can choose to buy pm from the country of origin of your choice.

  • Steve E

    I believe gold and silver is the best hedge against any economic disaster, even more stable than most stocks. Many stocks can be wiped out in a catastrophic event, especially the stocks that market non essentials. For example; If an event happens when most people only have enough money to buy essentials such as food, heat, basic clothing, protection and shelter, What will happen to the Apple stocks? i.e. iPhone. What will happen with other nonessential stocks such as cable TV, internet, automobile industry, etc? (remember, you don’t need these things to survive). The point I’m making is that you will still have gold and silver which has always been used as money throughout history.

  • noel

    nc, your sheeple understand economic realities. obongo and bush have ruined our economy. WE understand that the ONLY way to secure our hard invested money is to have a significant portion of it invested in tangible assets. take your patriotism and go blow a goat. this is ALL about protecting our monies and our families. you go ahead and put your trust in the lying fed.

    • nc

      Noel, Thanks for being another drop out who has raised his hand!!! Actually, Mr. Myers article is all about selling gold! You know, like Glenn Beck!! Nothing to do with making a stronger America!!!!!

      • DaveH

        To call you ignorant as a dropout, NC, would be an insult to dropouts.

        • Tom W.

          OOOHHHH!!! SLAM! LOL!!!

      • Libertytrain

        DaveH must agree with you there.. nc should show us the link where John Myers is selling gold….

      • GALT

        Yeah SHOW US!!!!!!!!!

        THEM: so the Myer’s Energy and Gold Report…….is free*?

      • DaveH

        As long as we’re going for full disclosure, how many of you Liberals are working for or sucking at the teet of Government?
        Like we could expect honesty from people who vote to steal other peoples’ money.

    • nc

      Noel. Gold prices just took another hit!! Those who have bought in the recent market are losing their butts! I guess that’s why Mr. Myers said “IT’S SO SIMPLE(only) A CAVEMAN WOULD OWN IT”!!

      • DaveH

        If you had any intelligence at all, NC, you would know that prices of all investment instruments fluctuate on a daily basis. We could pick any particular point in time to support any biased position we might advocate.
        For those who are interested here is a Gold Price Chart covering the last 20 years:

    • DaveH

      There is nothing Patriotic about NC, Noel, unless you consider Patriotism as being enslaved to the 1% of Politicians and Crony Capitalists who infest our Leviathan Government preventing good people from creating jobs and wealth, and helping themselves to those good peoples’ money.

      • Tom W.

        And I guess that Benedict Arnold would be considered a patriot according to those standards!!! Yeah, that’s what I said nc! TRAITOR!!!

  • Chester

    I have yet to figure out how any pile of metal is going to put food in my belly and a roof over my head when the metal has no intrinsic value. If no one wants it, I can’t trade it for anything I need, and for sure can’t eat it or sleep under it. Your personal knowledge and skills in keeping things working when they shouldn’t be able to work is going to be worth more than tons of gold or silver.

    • Steve E

      And no one will want worthless paper either. If someone has food for sale when times are hard, I bet he would take gold and silver before he would take worthless paper. It’s worked that way for 5,000 years.

      • GALT

        Actually it hasn’t worked that way for 5000 years…….

        see ” Debt: The First 5000 Years “

    • DaveH

      You’re correct, Chester — your knowledge and skills are one of the most valuable things you can possess.
      So here’s your chance to increase your knowledge:

  • DaveH

    I think John is being kind when he attributes Wall Street’s pronouncements to ignorance. Personally, I believe they know the facts damn well, but tell the public a different story to get the public’s investment money.

  • Wally Wilson

    Interesting article and comments…. except know one will admit that except for gold, we have NO MONEY. This is the one fact judges especially do not want mentioned. The Congressional Record is not the most entertaining reading, but if you will read the CR for June 10, 1932, p.12598 it states, “… Federal Reserve notes, which are not money, but merely promises to pay money.”

    Friends, “promises to pay” as Congressman McFadden stated, cannot be money. Since when did IOU’s become money? Never.

    Think. We have no money. We have never been paid. We “pay” for nothing but only “discharge” the debt. In America only gold is “money.” The government in collusion with the bankers have deceived us, and The Bankruptcy declared in 1933, is still in existence.

    • DaveH

      You’re right, Wally, in the natural free sense of money, but Government has Forced the Federal Reserve Notes on us as “money” with their Legal Tender laws.

      • Wally Wilson

        Respectfully, DaveH, check out my reference to CR for June 10, 1932, p.12598. We are NOT forced to use Federal reserve TOKENS! (Art 1 s 10 of the Constitution is still in effect, “no state shall make any Thing but gold or silver a Tender in payment of debt.”) Also, read 12 USC 411 and note this phrase, ” (FRNs are) for the purpose of making advances to Federal reserve banks through the Federal reserve agents as hereinafter set forth and for NO OTHER PURPOSE.” These “tokens” are a private bankers script and federal LAW thus states, we are not authorized to use them!
        Americans are ignorant. True, you lack other options for trading at WalMart. BUT if 10% learned the above LAW, and in all dealing with govt entities used this LAW and having no money, things would change.
        IF you read HJR192 and understand it, for ANYONE to demand payment in a specific form IS A FELONY. We need the knowledge and guts to STAND UP.

      • DaveH

        It would be great if Government abided by the Constitution, but they don’t.
        If you look at the front of a dollar bill it says “This Note is Legal Tender for All Debts, Public and Private”. It’s like the Income Tax. We may not be bound by those UnConstitutional laws, but run afoul of the Big Government Gang, and see what you:

      • DaveH
      • DaveH

        Here’s another example:

        It’s all about what the Big Government Gang can sell to the Ignorant Masses. And I don’t see that condition ending any time soon.

      • GALT

        Nobody sucked you in David…… volunteered and you KEEP volunteering… have voluntarily placed yourself under admiralty and maritime law ( jurisdiction ) which is perfectly “constitutional”…….and renders the rest of the “constitution” ( like everything else
        you think you know ) null and void. ( for YOU )

        How is life with all those government privileges and benefits?

  • Vet

    I’ll hold on to the gold and silver I have, also food ammunition and the ability to produce my own electrical power, with the government we have today anything can happen !!
    It is not looking good for our freedom, but I will fight to the death for mine, good luck you blind people that can’t see past your Ipods !!

  • Winddrinker

    Ok, lets set a scenerio (not a nice one) where the U.S. Dollar has been abandoned because it has become worthless…The people with more money (the ones that didn’t believe things could get bad) will have their gold (if it hasn’t been confiscated by government or thieves) but they still need groceries and their stash of bottled water is gone. Or, they need to get to the airport where their private plane sits without gas… the gas has already been stolen. What do you think other people will want in payment for food, water, or getting them to the private airport where their airplane sits, (unknown to them) without gas?

    The police have all gone home to protect their own families, the military is nearly disbanded, and we have foreigners running the government (just like now.) Water is at a premium because the faucets in your homes don’t work and the grocery stores have been looted, and most big city people are wondering “where else does food and water come from except the stores.” No more texting orders to the local Pizza Hut for “home delivery” of “pizza and Pepsi.” No more television and radio, let alone air-conditioning. The stuff in the freezer has been spoiled, but the family liked to eat “fresh” anyway so it wasn’t a big loss. Your friends and neighbors have stolen the gas out of your cars, if not your cars… Oh, and the banks are closed, how do you get the rest of your gold, the gold that is in the bank vault. No one has bothered to rob the bank because there is nothing in there of value…People are hungry and thirsty, and the hospitals are non-functioning because there is no power or water. The city has come apart and there are roving gangs intent on stealing as much as they can from anyone they come across.

    How do people get out of the city, get fed and watered and buy gas when they have nothing of value….. but have a lot of Gold..

    • Steve E

      Just give me the gold or silver. I’ll get you to the airport, even if I have to carry you on my back. No cash please, just gold or silver.

      • DaveH

        I like your attitude, Steve.

  • Tom

    Throughout the course of human history, gold has never been refused as money.A few
    times, it was the only money accepted. The present metals correction offers someone
    an opportunity to buy. Try to purchase gold coins minted before 1933. Look at
    different designs and denominations. Buy what you can pay for and afford. Also,
    consider buying 90% silver coins made before 1964. In a crisis, hard money always
    has purchasing power and will be easily recognized and accepted.Take actual
    possession of these items;a year from now,everyone with hard assets will be glad
    that they have them

  • Dave

    Windrinker, you assume that people who purchase PMs don’t purchase anything else, i.e. LTS food, water filters, firearms, ammunition, etc. For that matter, considering your scenario where the power grid is down, where do you presume that you or anyone else would obtain gas for any reason? There will be a finite amount and once it’s gone it won’t matter if you possessed everything else of “value” you couldn’t trade it all for something that’s gone.

    It isn’t an all or nothing purchase, but having 5-10% of your assets in PMs isn’t a bad investment. Have you never read any of the blogs written by or watched any youtube videos made by people who lived through economic collapse in their own countries? People with a lot were bartering for anything of value, even PMs. I don’t believe Mr, Meyers was suggesting that everyone buy PMs alone, but PMs have historically always had value and I really don’t think that’s going to change.

    • Winddrinker

      Dave, you are assuming alot about what I wrote. First of all I said that these were people that didn’t believe that the country would ever go through such bad times. They were unprepared. They had purchased Gold that they had kept in the bank, but they were unable to retrieve it..while having only a small amount at home. Like you and others, they always felt that they could buy anything with Gold. Yes, gold has been considered currency around the world, but the world hasn’t experienced world-wide famine, breakdown of every society and currencies becoming worthless, or a total lack of all the necessities…especially in America. How would people react. It is easy to sit at the computer and talk about all the reason to buy gold at nearly $1700 an ounce.

      But, in reality, if such things come to pass, while your child is starving and thirsty, would you trade or work for food and water or would you hold out for gold… Your child could not eat gold, nor could your child wait until people stop looting and killing each other. Believe me, there will be people totally unprepared, but they will have gold. They won’t have anything else, because they didn’t believe all the “nuts out there” predicting the end of life as they knew it. It all depends on your personal circumstances.

      If you have “plenty of everything you need to survive” and you are independantly wealthy, and having invested in a lot of gold… you can sit back and “scoff” at any scenerio where you might be “in need!” Trust me, there will be a lot of people “in need” and they won’t be able to use gold (even if they had it) until the world war is over and there is some way to find something to eat without going to the FEMA camps for food.

      Sure there will be the smug, that can sit and trade for gold all day long, but they will be rare individuals. And, I am not sure that I would want it known that I was a gold-trader in times like we may see, unless I had a personal army for protection. Just because you own gold, doesn’t mean that someone isn’t going to come along and take it! Sure, they can steal anything, but the glitter of gold will attract a lot of attention. Pull out that bag of gold coins and try to trade it…. and see if you make it home!

      Meanwhile, your kids still need food and water, in a lawless world full of thieves and killers.
      I am just saying that gold is not going to provide you with what you need in every situation and it is not always the solution to the problems that we may have to overcome. I will take those thousands of dollars and buy what I will need like medicine, food, ammo, sustainable energy, etc. And, when things are over, those that own gold will probably just have it confiscated….a necessity to get the country back on its feet, at least that is what people will be told. If the world goes crazy, in the end.. individual citizens are not going to be allowed to profit from owning gold.

      But, the chinking of gold sure sounds good and it looks awfully pretty! JMO.

  • Tazio2013

    Sharp increases in mining costs mean gold will need to reach $3,000 an ounce in five years for the industry to stay profitable, World Gold Council chief executive Aram Shishmanian said on Monday.

    Miners currently needed a gold price of $1,300 to survive, Shishmanian said, but faced steep rises in mining costs, along with the cost of dividends and host nation taxes.

    “If this continues for the next five years the gold price needs to be at least $3,000 just to stay in the business,” he said. However, he was optimistic sustained demand would drive prices higher over the long term.

    Spot gold fell to a four-and-a-half month low of $1,556.5 an ounce on Monday on concerns over the European debt crisis. Normally a refuge for investors in times of economic turmoil, gold has recently traded in line with risk assets like base metals and stocks.

    Future demand would come from emerging markets, central banks and investors, Shishmanian said, noting that China and India now represent 55 percent of the world gold market.

    “Emerging markets are going to hold increasing amounts of gold reserves,” Shishmanian said. “Holding billions of dollars doesn’t help them. The alternative potentially is gold.”

    Exchange traded funds backed by gold currently hold $120 billion, he said.

    “This is the tip of the iceberg,” he said. “U.S. pension funds do not hold substantial amounts of gold but we see that changing over the next 20 years.”

    • Tom W.

      I will have you note that if you follow trends and look at the graph provided by Mr. Myers on the strength of the dollar that it seems to have bottomed out and that we are now in the middle of a second bump in this down-turn! If the dollar was to somehow make a miraculous recovery and start regainimg strength, you’ll see the bottom QUICKLY fall out of those precious metal prices!!! Be on your toes!

      • Tom W.

        I Stand corrected; In the middle of the third bump up! Sorry!!!

  • Dave

    I almost forgot, Warren Buffet purchased 1/4 of the world’s silver and had it cast into bars a few years ago, so he must not listen entirely to his stock broker either.

    • Steve E

      Buffet just doesn’t want people to buy gold or silver because if everyone did, that would raise the price for him to buy the metals.

  • Thinking About

    If those interested would care to do some research in Gonzales, Louisiana you will find three people dead and a safe gone. Since many are wary of placing their precious metals in a safe in a home, don’t count on spending it yourself. I feel sure this has not only happened in this one incidence but many other places and I have yet to read here where this might be a risk. One should invest where they want but reality must be in control, and don’t think you have enough guns and ammo to protect yourself and your family. You have to sleep sometime.

    • Steve E

      You do have to keep you gold in a safe place. Keep it somewhere where you know some one will not even think of looking.

    • DaveH

      Why worry about theft that may occur, when theft is occurring on a daily basis by our Government?
      In 1900 Government spent 3% of our country’s GDP.
      Currently Government spends over 40% of our country’s GDP. What thief can match that?

      • Wildey

        And that’s using the government’s figures.

      • DaveH

        Also it doesn’t include the costs of the regulatory burden on businesses:

      • Thinking About

        DaveH you state “Why worry about theft that may occur, when theft is occurring on a daily basis by our Government?” I like your argument, Why Worry, now that we do not worry anymore life will be good for you and no more complaints.

  • uvuvuv

    if it’s stupid to own gold, can one not who is stupid enough to own gold find someone even stupider to sell it to? this is what they are overlooking. i read that before the weimar inflation a gold coin would serve as a tip at a hotel, but then during the inflation that same coin would buy the place. what is stupid is not preparing for what could happen if the gold bugs are right. i mean, if the santa ana winds are blowing a brush fire toward your house, which is what we are facing today, it would be realllllly stupid to not call your insurance agent and set up a policy.

    • Wildey

      Twenty $20.00 dollar gold pieces will buy you a $36,000 automobile today. I rest my case.

    • Winddrinker

      At one point in Europe, probably in Holland, Tulips were declared to be the currency! The more beautiful and rare a tulip the more it was valued.

      Sounds about as stupid as saying a piece of paper has value, when there is nothing behind it….. Our “tulips” are still being used for purchases.

  • Raymond Clary

    Apparently Buffet’s buddy doesn’t think we are facing a Nazi-type occupation. I happen to disagree with him. Obama’s impending martial law will make Nazi Germany in the late ’30s & early ’40s look inviting.

    • Wildey

      With Ron Paul out of the race, at least if his momentum slows down, your right. With Obama and Romney fighting for the exalted place of power accompanied with being the president of the United States, martial law is very possible. With groups like the BRIC, Brazil, Russa, India and China looking to replace the bankrupt dollar anythings possible. At the end WW11 England held that exalted place of having the worlds sovereign currency with the British pound sterling but their own greed killed them. In the Bible there is a statement, “To whom much is given, much will be required”. We haven’t lived up to doing our duty as God fearing overseers. Instead we decided to go after Satan’s dainties. Look what has gotten us.

  • Wally Wilson

    Friends, we have all been educated ( I mean, indoctrinated) in the government’s fool (i.e. school). Many are rising from their slumber. The fed govt, is the Dist of Columbia, a federal corporation created in 1871. All govt employees and those ignorant to claim being a US citizens, are members of that corporation, and must abide by its edicts.
    All who take an oath to the fed constitution immediately expatriate from national citizenship to US (see 8 USC 1481) and United Nations citizenship (see Int’l Organization Immunities Act of 1945) and are the only folk that federal statutes and laws apply.
    Legal tender laws cannot be forced upon the knowledgeable.

  • Ed Schauer

    Gold is nothing but a rock. As long as people are willing to spend money on this rock the price will rise. Why do the gold people sell gold if it is so valuable? Buy gold all you want as long as you have the cash, with out the cash you are not buying gold. Should the world collapse and gold is the trading commodity, the question will be, to those with food and water; will they be willing to give this up for gold. You can’t eat it. The ones’ with gold will be no better off than those with out gold. It will be the people who have water and food that will become the new kings; IF the world collapse does happen. Buffet is looking at the world he currently lives in, not the future world of collapse IF it happens. As he said when Berkshire Hathaway started it was $15.00 a share and gold was $20.00 an ounce. Today some 50 years latter (people have been talking collapse all this time) Gold is about $1,600.00 an ounce and Berkshire Hathway is about $110,000.00 a share. I can sell my ounce of gold today or my 1 share of stock today for money and buy food to live on. Would an ounce of gold over the last 50 years or a share of Berkshire Hathaway been the better investment in the future? That is the individule choice we have to make. In my mind storing gold won’t do anything for me over my next 20 to 30 years of life I may have left to live. If the world does collapse I doubt gold will be the first thing on my mind. See what happens in the next 20-30 years and you will have your answer. I have seen this retorick for over 50 years and if the world ends it won’t be because of politics or wars, or terrorists or anything man does, and having all the gold in world won’t help you.
    Buffet and Munger are Capitalists. Capitalism is a social system based on individule rights, including property rights, in which all property is privately owned.
    This system is a system of life, and can not tolerate war, physical force against others, or the destruction of property, in it’s purest form. Man can not survive like an animal does; and his simplest physical needs can not be satisfied with out the process of thought by each individule. Man can cooperate with other men but such cooperation requires thought and acceptance of these other thoughts and ideas by each individule. (from a mob, tribe, group, or society).
    Thus if enough people believe in GOD, a religion, Tribal function, or a form of society, each person must either agree or disagree with the form the group takes, and act accordingly. It is still the individule who must think and act, or surrender to the group and think according to there line of thought. Thus force is required on all processes except Capitalism.
    Capitalism requires individule thought and action, thus if you beleive in gold as the currency of the future, you should be buying and storing it and you live with the results. If you are expecting a rational world of exchange and barter with out force on your being that is your individule right to think that way, and trading gold for food & water with no down side is what you expect, than that is the way to go. The destruction of Capitalism will also happen as it could not live in world controlled by a specific group of individules,who have controll over tha actions of all the other individules in it’s society. Capitalism needs a freedom of the individule to operate in an open society, or it can not function. Thus force is required to kill it, and force of action is what will make gold have true value and this same force of action is what wil cost you, any gold you may have, unless you are truely a member of the strong and powerfull in the new society that may arise. Only the strong will survive if Capitalism fails and man will be the worse for it.


      Hi, Mr. Schauer:

      Say, sir, if you have any gold watches, coins, pendants or gold wedding bands that are amusingly useless to you, please email me, to discuss terms of delivery to me OK?
      That would indeed be indicative of your complete sincerity regards gold only being a useless “rock” huh? Please put all hypocritical responses aside and abide by your declarations found in your post without fanfare. You can count on me to pay all shipping costs on all shipments exceeding $10,000 or more. All non compliant, silent dissidence kept to yourself to protect your useless assets will be considered out of character? As the old saying goes: actions speak louder than words?

      Living The Good Life In California:

      • Ed Schauer

        You are talking about personal items and trinkets. I don’t have any gold coins and one old watch that belonged to my grandfather that has more sentimental value than commercial value. My wifes gold wedding ring is about it; and she won’t part with that. My watch is silver and probably plated, I only use it for telling time. There is nothing wrong with having gold, just don’t expect to live off of it. There are a lot of uses for rock, gold included, but as an investment to live off of or to be your back up in a world disaster I have my doubts. Thats just me, and this hyping of gold has been going on for generations and will continue. I would rather have a steady stream of income based on sound investments; rather than a pile of gold sitting there doing nothing. A good book to read is “The Intelligent Investor” by Benjamin Graham and Jason Zweig. There is more to life than speculation in the market place based on the hype of the moment. An Intelligent Investor can be debt free, and have income for the purpose of living his life and helping others in this society.
        I notice you are ready to capitilize on any situation or try to make the writer look the fool. That is typical of the upcoming generation, be careful what you wish for, it may come true to your consternation.


    Hi!, Patrons Of Personal Liberty Digest Et Al:

    First regards being followers of Jesus: We have many denominations today but He came as the Savior Of The Whole World. What’s the name of the denomination to which He belonged except LOVE for all men OUR Father loves? The wise men of His time finding Him at birth in a humble stable lying in a manger, brought him gold, frankincense & myrrh. What became of His gold, frankincense & myrrh our gospels don’t explain but we can be sure that the three wise men thought of them as special gifts they brought to show their gratitude being present at the most important birth our Mother Earth would ever experience which birth still influences us today. There’s no records of Jesus ever attempting to put down those gifts of gratitude He was blessed to receive as a babe as He matured into the ministies of His adulthood but He gave us such insights reflective of those wise men, when He said: “Give & it will be given to you!” Gratitude goes a long way in any day and age towards saving each of us from the ravages of a spirit of despondency etc. doesn’t it? As a baby He couldn’t respond with His gratitude to the 3 wise men could He but the whole life of His minsties was to become the greates giver the whole world has ever known sparking in many instances gratitude within His recipients’ hearts for His giving them their new physical, mental & emotional wholeness. Not everyone who received Him having needs He fulfilled in their lives showed Him their gratitude such as the 10 lepers of St. Luke 17:12-19 in which case only one showed Him any gratitude; while 9 provided Him no signature of gratitude following their healing. Some writers have written that the whole world lives and dies, based solely uon the degrees of gratitude we all show one another. How many of us a greatful for our baker, our barber, our auto makers, our construction workers, our utility providers, our wives or husbands, our childre, grandchildren, doctors, pharmacy attendants, auto mechanics, tire salesmen etc.? Was that His response to the three wise men’s gifts we witness througout His life: gold, frankincense & Myrrh? As a child growing up did He align His divine character to His eternal gratitude to the three wise men who sparked it by their gratuitous, thought provoking, humble gifts well thought out and planned how far in advance of their trip to His manger? One thing we can know and that is His spirit of giving however sparked continues to be expanded upon today under any and all circumstances. That spirit of His giving includes His offer to give any of us His Holy Spirit with its’ fruits of love peace and joy merely for the asking of His Father and OUR Father. The most precious gift ever offered to mankind and the whole world could forever benefit from the Holy Spirits’ fruits of love peace and joy couldn’t it especially in today’s enlighted world? Jesus tell us that the Holy Spirit is the spirit that provides us with “THE TRUTH” and is even inside of us to counsel us as THE COMFORTER that opens up our understanding providing us with what to say when we are confronted by any other authorities in this life. Did three wise men start something that only we can finish by following in the foosteps of the Master Giver the wise men met so humbly over 2,000 years ago giving gifts of gold, frankincense & myrrh? When that total spirit of giving is planted within US all, to leven the whole loaf of humanity through the indwellingness of His Holy Spirit; ending all forms of warfare among all/each of US, He promised His disciples that only then we will experience THE END OF THE WORLD that exists without the gifts of giving He experience prior to adulthood by the FREE will offerings He received from the three wise men @ His birth. As long as there’s wars & rumors of more wars He counseled His disciples, “the end is not yet!” “A new commandment I give unto you; that you love one another as I have loved you!” Another great & divine gift He provided mankind is His Lord’s Prayer which gives His believers His dispositon and character regards living this life with our fellow believers and non believers. He highlighted that we should leave it up to OUR Father who is love itself to: “Deliver US from evil” and can we think of a better escape from all evil other than through real love/prayer? Starr Daily who was once a safe cracker criminal type wrote in his book, Only Love Can Open Prison Doors, that only GOD is real love and so only GOD can love in a real way. Jesus was incandescent in as much as all sense of self was so errased from His inner man/being that He could rightly say: “He who has seen me has seen the Father!” This sense of real love or GOD Himself indwelling each of US constituted the backbone of His Master Plan to save & redeem this whole world as OUR savior.
    In my Old Testiment History class in college one day our professor explained that the original Greek derivative for the word salvation means that a man has it all together encluding a job, good relations with his family/friends and the rest of society plus a reemptive character and that the original Greek does not refer to falling down in tears before any altar accepting Jesus into OUR hearts alone. In that preference of essence OUR world is a long way off from salvation today isn’t it and just showing up for a one hr. a week sunday service unemployed on food stamps etc. isn’t going to cut it is it? Jesus ministry was a 24/7 7 days a week affair which included healing mens’ bodies by the thousands sometimes in a single day or feeding the multitudes that followed Him. There’s nowhere in the New Tesitment gospels where Jesus glorified unemloyment and when he healed mens’ physical afflictions my vision is that He could forsee these men returning to their jobs to service the needs of their communites etc. utilizing the natural talens GOD provided them @ birth. He couldn’t allow the 5,000 that He fed with a few loaves & fishes to go hungry either could He but the miricle wasn’t entirely that He fed the multitudes with such meager supplies with baskets left over but the love/compassion by which He was divinely motivated/inspired to act out His/OUR Fathers’ intentions for each person Jesus ever met through the love that dwelt within Him controlling His every intentions/move regards all life.
    If we all could apply His Masterful life of total giving instead of the life that ohly finds gratification in getting most people desire today, we could actually fulfill His request He laid on US all in the Lord’s prayer; when He stated: “Thy kingdom come and thy will be done on Earth as it is in heaven.” This is an appeal for us to have heaven now right here on earth but people calling themselves Christians attempt to escape this responsibility by talking of a rapture escape hatch or only going to heaven following the experience they refer to as death. What a shame, sham & joke! What kind of a GOD who is love itself would defer heaven from His children until such a trajic event as their death is unimagineable to me but my thoughts are far too out there for most people to even contemplate or not found to be agreeable with the present mindset of mankind today worldwide. When the 3 wise men delivered their FREE will gifts & offerings of gold, frankancense & Myrrh were they living their lives in heaven with gratitude and praise or were they living in some sham, economic hell hole of a life stunted by greed, avorice and inhumanity towards men? What was their plan when they traveled their route to see the World’s Master Giver that day of His divinely sent birth? There is much more to contemplate here than just what OUR world needs to do to strengthen OUR economies out isn’t there and so what about how to live our lives today in heaven in the here and now as He asks in His Lords’ Prayer? Read His Lord’s Prayer to yourself in silence for at least once a day for a minimum of six months & see what changes in your attitudes towards life and your fellow men/women might occur to you within the silences of your own soul with only your/OUR Father in attendance with you. You can purchase a copy of the Lord’s Prayer by Glenn Clark through contacting Macalester Park Publishing when dialing (800)407-9078 to discuss your purchase with either Sue or Dan who will gladly accomodate you with your purchases whether it’s a copy of The Lord’s Prayer or many other books they carry for OUR spiritual edification encluding their book, The Holy Spirt, also by Glenn Clark.

    Take Care; Be Wise Plus Pennies From Heaven:


  • Wildey

    In the beginning men bartered to get what they wanted. As populations grew and men showed themselves better capable to do this and that, a man might want what another man produced and conversely the products he produced were in demand by another. It got so a portable medium of exchange in demand by everybody was adopted. Instead of carrying his wares to market he simply brought coins to purchase them. Gold was the metal of choice for coins but other metals might be used. Regardless, the metal in the coins was a commodity and that commodity determined what the coin was worth.

    Banks to store a persons coins were established. The banks gave receipts to the person storing coins. Banking was lucrative business storing coins but banks started lending only their own coins and receipts, certificates. Because a certain amount of coins and certificates were always in storage, bankers felt comfortable lending out what wasn’t theirs. Soon governments got in on the act. Banks were lending so much that wasn’t theirs they feared exposure to their crime. Governments were a big borrower and knew what was going on but rather than expose and arrest bankers, they simply wrote laws to protect bankers. The people were denied knowing what was in banks and governments working in concert with bankers printed untold amounts of certificates. As these certificates hit the street, the market learned there was more and more of them which reduced their value. It’s called inflation but I call it counterfeiting. Soon there were so many gold and silver certificates out there those metals could no longer be used as the commodity to back the dollar.

    The Central Bank, Federal Reserve, started printing FRN’s, federal Reserve Notes using the wealth of America as the commodity to back the dollar. In the beginning people possessed assets when they possessed money, now all they had were Notes made out to the Federal Reserve. Government went crazy enjoying the lie to the point where there were so many FRN’s out there that the wealth of America wan’t enough to cover the printing of the dollars. It’s hard to calculate the wealth of America with so many counterfeit dollars out there. Regardless, the Federal Reserve keeps printing and printing. The situation, truthful assets vs. liabilities, is so bad no one wants to face it so we’re all just living with lies. The “Lords” are taking a grand position while the “Serfs” are being put in their place. The middle class is being bled to death from both ends.

    Now we’re using the “Might makes Right” theory. We’re forcing all oil producers to only trade in dollars. Iraq and Libya balked at that. Iran and Russia are balkng as well but they’re a little stronger and they have a mutual defense pact between them. You can think for yourself where and when this game is going to end. John 3:16


      Hi!, Wildey:

      Thanks for your disclosures revealing the earlier evolutions regards money etc. including your precepts pertaining to barter too.
      Reflections On Bartering As A Means Of Payment: Barter has always existed and will continue no matter but as time transpired and men became more sophisticated in their attempts at making purches + saving for future purchases, a means of storing wealth became manditory. A lady friend of mine who runs the blood draw service @ our local Hosp. recently told me the world needs to turn to barter. God bless her her intentions were as pure as gold; wanting to leverage any means recognizable that will help all of us stay afloat in a world downing in fiat, paper, I Owe You Nothing, money.
      My response was: “Liz, say you go to Less Schwab to buy tires bearing 500 lbs. of tomatoes and find that Less has already received 50 tons of tomatoes already from previous transactions? Unless Less has an inside track with McDonalds, Burger King, Jack In The Box etc. plus a local tomato cannery what can he do with all those tomatoes except watch them spoil/rot?
      She understood immediately but she also sees all of US being cornered by what’s happening regards the devaluation of our money adding to our wanting/needing higher incomes to compensate for our declining currency purchasing power known as inflation. Add to that perception by the fact that her boyfriend just got laid off by his boss of some 20 years and she’s looking for a way to safeguard them from any further hardwhips. She gave me his new business card, in hopes that anyone could help direct anyone towards hiring him for his new stucco business. She said they had prayed about his layoff and then taken every dime they had as savings in their bank accounts, in order to fund him starting up his own business but while in the meantime he’s still collecting unemployment. The cards will be handed out in hopes that Gary will find new employment and ease his present unemployment apprehensions etc.
      On August 15, 1971 President Nixon closed OUR US Gold Window. Billions of our Nations’ paper dollars were brought to him for redemption stating: “This note is legal tender for all debts public and private and is redeemable in lawful money (gold) at the United States Treasury or any Federal Reserve Bank.” Earlier in around 1944 the Bretton Woods Agreement guaranteed that the US $ would always continue to be redeemable as 1/35th of a troy oz. of gold in an allow 9/10ths fine. Nixon by his closing our Nations’ Gold Window declared international bankfuptcy and those making claims on OUR Nations’ gold as transfered into their possession to become THEIR gold went unsatisfied. With China today holding more than 3 trillion US $’s as the reserve currency of the world, if these $’s could be redeemed @ the Bretton Woods price of $35/troy oz. the United States wouldn’t have a troy oz. of gold left in Colorado, New York nor Fort Knox, Kentucky would it; providing there’s any good delivery bars of gold there that aren’t say tungston etc.? That gold would have been taken by the Chinese, without their having to today build gold mines or purchase gold mines to work hard physically worldwide, in order to build up their own National Fort Knox style gold reserves. The United States would be starved for gold reserves of any size plus the Chinese as the new possessors of what use to be OUR gold would be holding gold they accumulated @ $35/troy oz. now worth over $1,500/troy oz. wouldn’t they? Is there any wonder why the Chinese are taking physical possession of natural resources worldwide including all the gold they can acquire too using our deficits spent $’s buying Chinese goods as their internal leverage? 3 trillion + $’s is no longer going to be spent by the Chinese just to buy Treasury Bills & Bonds is it? What is the readers’ solution to this whole mess encluding what has just surfaced regards J. P. Morgan and the mountains of derivatives debts measured in the trillions of $’s?
      CONCLUSION: The other day someone wrote a pride filled comparison that the United States’ gold hoard is over 8,000 tons; while China’s is only a little over 1,000 tons. Those pride filled figures are constucted by hook and by crook, beause the US gold has an stubbornly unmet international lien on it plus it is unknowingly owed at the same time according to OUR Nations’ Constitution as specie only gold and silver coins to be circulated from the US Mint for FREE to everyone that’s a citizen of these United States Of America. What kept those who asked for OUR gold (all of it) on August 15, 1971 from taking possession of it as their gold @ $35/troy oz. now worth more than $1,500/troy oz.? Who would willingly overlook such a deal; surely no common sense brokers or even Wall Street financiers would they? What does all this add up to, in terms of the divine order: “Do unto others as you would have them do unto you?”


    • GALT

      In the beginning men did not BARTER………the sequence of the fantasy, barter, money, credit……..exists because Aristotle asked you to imagine it…( and then he supports it by explaining the difficulties of barter ) and it exists because Adam Smith asked you to imagine it……..etc, etc. There exists no historical evidence for any barter economy that
      was the beginning of anything……..or that transformed itself…….the historical evidence is
      the reality that the actual cycle is credit, money, barter……..

      see Debt: The First 5000 Years………..written by an anthropologist ( and deals with
      EVIDENCE……not the power of imagination. )

  • DaveH

    Federal Reserve Deceit in Action:

    “Fed says several members could support additional efforts to boost economy if needed”.

    “Boost” the economy? Any third-world country could print more money if that was the road to Prosperity. The simple truth is that the Fed is bailing out itself and its buddies with the monetary wealth of the rest of us by diluting the money supply making our dollars less valuable. The people who get the newly created money benefit at the expense of those with the outstanding old money. And it does nothing to better the economy. If anything it worsens the economy by making wise entrepreneurs afraid to invest in capital equipment due to the probability of inflation in the future which always results in a bad economy.
    If we serfs ever hope to see a good future we need to get the Federal Reserve under control, or better yet abolish it.

    • Winddrinker

      “Abolish the Federal Reserve”

      This is the most important comment on this board! The FR is draining our country and everyone in it of all the wealth. When they have drained every drop, the world will fall apart, except for the global elite, the owners of the FR….people like Soros and his ilk. At that time, they will own the world, pick up the pieces and put together the One World Government with themselves running the “show.” And, that is the plan!

      • GALT

        Really? What SHOW would that be? ( must be one planned to be staged way, way, way
        way, way off broadway in a nice safe cave because that is where they will have to hide )
        Trust me…….that is not the plan. ( there is no plan…….this is simply out of control )

      • Winddrinker

        Gault, come on Dude! Don’t “play dumb!”

        But, if you really are dumber than a rock, you wouldn’t understand anyway.

  • Wally Wilson

    Russ, Wildey and Dave… very good thoughts. I wonder what “rock” Ed has been hiding under? Sure, no one can eat rocks… but I’d rather have a few gold or silver coins, with intrinsic value in my pocket, for the local merchant than a barrel full of worthless paper, as in Germany in the 1930′s. The history of paper “money” shows it has ALWAYs failed. It’s only a matter of time for FRT’s (tokens).

    When more folk realize what the banksters did to us with their worthless paper there will be hell to pay. If Ed’s “rocks” are not important, why did Roger Sherman of Connecticut insist on the words he wrote be enshrined in the Constitution (Art. 1 .s. 10)?

    I’m glad Ed was NOT one of the founding fathers. Oh, Russ, if Ed sends you more “rocks” than you can handle, I’ll be glad to buy a few!!!


      Hi!, Wally Et Al:

      Even if Ed sent me any gold/silver there’s no way it would be kept and he’s not even going to contact me is he…we all know that as a fact. Nonetheless, my perspective is the same as yours isn’t it; to help Ed understand the values he owns if he owns any right?
      Let me elaborate a little using information that was mentored into me many decades ago by my deceased friend, Bernard Jongste, who migrated here from Holland:
      Industrial silver becomes 999.99 fine Industrial silver via electolysis. Years ago researchers conducted extensive tests, to determine the best suited metals to use as electrical conductors and rated copper 100%. Later, another researcher overlooking their research noticed that silver wasn’t included in the tests. He redid those tests and then rated silver 120%.
      Eastman Kodak has used Industrial silver for generations as silver holloids whereby they can produce more than 5,000 colored films for your family’s almanac out of 1 troy oz. of Industrial silver. Silver (& gold) are used too as fine wire to conduct electodes from one point in a circuit board to another or as electrical contact points in thousands of electronic devices worldwide. Out of one troy oz. of 999.00 Industial silver a refined wire can be drawn that is 50 miles long which makes the price of silver for Industrial use inelastic which means that the amount of silver used in any one device is too small to ever be expensive. This is why Greshams Law has driven our pre 1965 silver money out of circulation into the Industrial melting pots. What can we do with a Ben Bernanke $ except acculate debt to pay into the future forward until ?
      Words Of Wisdom From The Past: Daniel Webster reviewing the various inflationary trends during his time offered this observation to us today: “Of all the devices contrived for cheating the laboring classes of mankind, none has been more successful than that which deludes them with issues of fiat, iredeemable, I Owe You Nothing, paper money!”
      From the Silver & Gold Report decades ago this gem: Sense the invention of paper money by the Chinese, paper money has become the downfall of more Empires than that other famous Chinese invention: gun powder!”
      The world’s worst incident of inflation invoved the Hungarian Pengo which called upon the Hungarians to construce an accounting system based upon light years.
      The nightmare inflation of Germany around 1923 caused a loaf of bread’s price to escalate upwards to more than 300,000,000,000 German paper marks per loaf; while here today in the United States people complain if they pay $5 or more for a loaf of bread? If the United States follows in the hyperinflationary footsteps of German, we haven’t seen anything regards prices yet have we? Under such conditions how does anyone form a savings account for future purchases; especially when the banks are paying interest rates far below the rate of currency buying power depreciation known as inflation? German mortgages during that episode fell to one US Penny & we think real estate has bottomed?
      Bertrand Russell, one of our Nations’ greatest philosophers once quipped: “Why do we as Americans depend upon our professional Politicians to have answer to our problems; when they are the problem?
      MY ADVICE: Watch out for that stealthy, silent pick pocket that can invade your wallet both night and day 7 days a week escaping with your buying power known as inflation.
      PLUS: Please take a mental tour of Fiat Money Inflation In France by Andrew Dixon Whie the co-founder of Cornelle University @ The Von Vesis Institute Website which is more than 70 online pages or purchase their paperback book on the subject for around $10. The topics on inflation within the covers of this book are How It Came (inflation); What It Brought and How It Ended. It ended when Napoleon sent an emissary to the French Ministry demanding gold coins with which to pay his troops in substitution for the paper assignants that were depreciating consistantly and the French Ministry sent the gold coins. What would happen today here in America, if all American Service Personel demanded to receive their Service Pay similarly in gold coins? 5 generations of young French men were shipped off to foreign battlefields, to become consumers requiring food, clothing, ammunition and education rather than jobs @ home or remain unemployed.



    John excellent Article, you made more sense unfortunately many people do not understand what you told them, I am elderly and my knowledge is not based on reading but acquired because I was there when many events took place. I remember the sovereign is a gold coin of the United Kingdom, with a nominal value of one pound sterling but in practice used as a bullion coin.
    Many years ago the value of that coin was equal to one pound which is $1.60 that coin to day value because of the coin gold contents is perhaps $500 or more, if someone knows the current price let me know. During the Roman empire its money was tied to gold when it got away from gold it debased its money. Charlie Munger is an investor that I respect, Charlie is accustomed to buy under value stock and also believes in the investment that generates income, Gold does not generate income but appreciates in value as the paper money is debased by the politicians caused by printing more paper.
    Here is what I like at present farm Land if you could buy for cash, if it does generate income to pay the mortgage then you should buy with a mortgage, the world population is now 6 billion it will keep increasing and mankind has to eat. For me I like London UK, property in prime, prime and prime area, those property double in value between 7 and 10 years.
    UK has in place severe land restriction as to use of Land, and will not allow over building since it reserve the Land for food production. I was in the US property business for 30 years and got out.
    I am able to detect a bubble within one year before the balloon bust. Many years ago I was heavily invested in the Tech sector which was in a bubble mode my investment kept rising, until one day I heard on TV financial gurus predicting the Dow may reach 20,000 upon hearing such news I called my broker and told him sell, sell, and sell. I was in California during the housing bubble the one before the latest, I also heard California Real Estate Agents saying the single family dwelling is an endangered species that message caused me to sell and sell, after many months went by my friend began to laugh at me they told me it is still going up. I am able detect a bubble more than the Federal Reserve Bank. I sold all of my holding in the USA many years ago since I saw the writing on the wall. Today quite modestly I am in the UK property business.
    Russians, Chinese and Arab oil barons are buying London prime property as a hedge on inflation. Here is the latest prices 2 bedroom condo Knightsbridge area near Harrods in London going for over $3 million, a $15 million dollar home and higher in price is sold when it comes on the market within two weeks.
    The Royal families of the UK very seldom sell the property they own, if it is a vacant Land it is leased, and when each member dies they pass on the property to their heirs that process has been going on since the 13 century. I read many a few years ago there was a 5000 sq. feet home built inside Regent park, it is owned by the crown which means the Royal family perhaps the present Queen, a billionaire offered to pay double the market value they refused to sell.
    I refer to some unique London property as money printing machine the money is rent, If you are fortunate to own a 2000 Sq. feet store as the Landlord on Bond street London, you have got yourself a money printing machine, it will feed you and your children and when you die pass it on to them then when they die they will intern pass it on to their children, a process that can go on for over 200 years, again never sell that money printing machine. Now you may ask what are the risks Nuke war or the UK becoming a communist country.
    Joseph Foster, Author ‘’Seeing Red’’ ‘How America is losing the future’ Available at:


    I agree with your comment with some qualification; you could make lots of money that will give you no income, appreciation only. I do believe in an Investment that will generate income. A lady made over $25 million has no knowledge of the stock market she picked her stocks at the super market. When coke came out and she noticed many people were buying coke she bought the stoke, she did the same on washing detergent. The Euro and dollar may one day be used to wall paper your favorite room. You could loose on gold if and when the USA and the European countries begin to reduce their mounting debt and balance their budget, that event will never come about.
    Munger is not accurate as to his comments no one has looked him straight in the eye and engaged him in a debate about his statement.
    Joseph Foster, Author ‘’Seeing Red’’ ‘How America is losing the future’ Available at:

  • Mike

    The key words are “civilized man” are we??

  • s c

    Oooweeeee! That song-and-dance is straight out of the Uncle Scam and Fed tech manual, people. Wouldn’t it be neat if that yahoo [Charles Munger] was a closet gold BUYER? It would fit. Frankly, I wouldn’t let Munger make decisions on when to take out the trash. I’m betting that when push comes to shove, Buffet knows how and when to yank Munger’s leash.
    Anybody who thinks gold has no value is someone who took a long time to know when to come in out of the rain. Ask Soros about gold. Ask Carlos Slim about gold. Ask the CHINESE what THEY think about GOLD. Wake up, people. What you know and what you think you know tend to be two different things. If Uncle Scam has his way, Amerikans will ALWAYS be stupid and ready to smile when asked to BEND OVER [it's 'for your own good,' sheeple]. D U H !

  • jopa

    I don’t know what’s dropping faster ,the price of gold or gasoline.That darn Obama where is the $5.00 a gallon gas everyone was talking about? It’s down to $3.60 in our area.Looking at the gold chart , it looks like it lost mega bucks for the buyers.


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