It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: trapeze on April 01, 2013, 02:06:58 AM
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The Blaze chronicled an AP interview with David Stockman about a month ago and we discussed it here. (http://itsaboutliberty.com/index.php/topic,5043.0.html) Now there is another interview published yesterday (featured on Drudge) complete with audio which you can access here. (http://www.peakprosperity.com/podcast/81371/david-stockman-federal-reserve-fed-wall-street-bernanke-deformation)
...the system is dramatically unstable. In a healthy financial system and a free capital market, if I can put it that way, you are not going to have stuff going from nowhere to @1.2 trillion and then back to a trillion practically at the drop of a hat. That is instability; that is a case of a medicated market that is essentially very dangerous and is one of the many adverse consequences and deformations that result from the central-bank dominated, corrupt monetary system that has slowly built up ever since Nixon closed the gold window, but really as I say in my book, going back to 1933 in April when Roosevelt took all the private gold. So we are in a big dead-end trap, and they are digging deeper every time you get a new maneuver.
Podcast at the link. Thoughtful and thought provoking.
I will get around to buying gold after I have built up what I believe is a reasonable and safe amount of food and ammunition. If there is any to buy after that. If our currency has any value.
I said this a while back and I think it bears repeating: I think that gold is great and all but I am betting that practical knowledge and skills will be worth as much or more than gold in a collapsed economy. I think that high value barter goods will be worth (and be more liquid) as much or more than gold when the SHTF...I'm thinking of things that have a long, long shelf life: distilled liquor, gourmet coffees...stuff like that. Real estate has and always will have value because it is real...hope I can swing another rental property or two someday. And I was never much for going off grid but I am evolving my thinking on it. Now I see it as a possible value item in and of itself.
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I understand and agree with your essential point - a diversified basket of goods and services is best. It can include skills and knowledge, durable and non-perishable goods, everything has a value and a purpose. I see silver being a better medium of exchange than gold for most people of moderate means as I think it will have a value closer to obtaining common everyday goods, gold is a long term store of value which could be used to acquire larger ticket items like land and machinery. This reminds me though, I need to start hoarding more booze and toiletetries...that stuff will always be in high demand.