RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE

RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (Full Version)

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VideoAdminZeta -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:09:21 PM)
General comment on the thread to all posters: Please trim your quotes. Many of the posts on this thread are hard to read and take up unnecessary screen and server space. There is a post on how to trim quotes here: http://www.collarchat.com/fb.asp?m=3100552 This has been the standard on the site for years, though for whatever reason, it doesn't appear that regular Politics and Religion posters have made it a habit. If you didn't know this before, now you do! Posts not adhering to this request may be deleted.

willbeurdaddy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:13:26 PM)
quote: ORIGINAL: pahunkboy quote: ORIGINAL: zephyroftheNorth quote: ORIGINAL: pahunkboy HOARD GOLD! Hunky, what good would that do? You aren't making any sense here, what does hoarding gold have to do with what we are discussing? In some regards it is separate- in some it is the same. fiat money- so gold and silver will hold its value. there is no essential difference between fiat money and gold or any other commodity backed money, which still relies on faith in the underlying value of the commodity. Salt was money until it became devalued, and the same could happen to gold with new discoveries.

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:16:25 PM)
Finally. Someone who gets it. Wilbeur and I disagree on many things---but he understands what money is (and isn't). ETA: Trimming quotes is another matter.... (just joking with ya on that one!)

willbeurdaddy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:19:40 PM)
quote: ORIGINAL: pahunkboy quote: ORIGINAL: zephyroftheNorth quote: In some regards it is separate- in some it is the same. fiat money- so gold and silver will hold its value. I can understand telling people to hoard gold in a thread about the economy but not here. Can you clarify further please The WTC basement held alot of gold. No one can account for it now. Other than the $200 million that was recovered of course.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:30:49 PM)
quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: pahunkboy HOARD GOLD! there is no essential difference between fiat money and gold or any other commodity backed money, which still relies on faith in the underlying value of the commodity. Salt was money until it became devalued, and the same could happen to gold with new discoveries. I will trade you 10 lbs of salt for 10 oz of gold. Where would you like it shipped?

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:44:40 PM)
[sm=ofcourse.gif]

InvisibleBlack -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 5:58:55 PM)
quote: ORIGINAL: Real0ne I was looking for that, but you know they must have avereaged it out somehow because 2005 looked like 2009 does now. I wonder if they arent using some kind of moving average. I save it for future reference, thanks. Possibly you were looking at the M3 chart: http://research.stlouisfed.org/fred2/series/IMFNS?cid=28 Which includes money market funds, institutional deposits and the like - i.e. the money supply after the multiplier effect is taken into account. Based on this, since 2005 the money supply has basically doubled - which would imply a 50% devaluation in the value of the currency if we weren't currently in an economic contraction.

Real0ne -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:13:42 PM)
quote: ORIGINAL: Musicmystery quote: ORIGINAL: willbeurdaddy there is no essential difference between fiat money and gold or any other commodity backed money, which still relies on faith in the underlying value of the commodity. Salt was money until it became devalued, and the same could happen to gold with new discoveries. Finally. Someone who gets it. Wilbeur and I disagree on many things---but he understands what money is (and isn't). ETA: Trimming quotes is another matter.... (just joking with ya on that one!) Oh this is like major way to fucking easy! I mean I dont belive its this easy LMAO ok kiddies I cant wait to hear the response to this if you have the nerve to even respond...LOL Explain how you PAY a debt with IOU's. [image]http://i123.photobucket.com/albums/o296/nine_one_one/stuff/rolling.gif[/image]

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:24:56 PM)
quote: ORIGINAL: Real0ne Oh this is like major way to fucking easy! I mean I dont belive its this easy LMAO ok kiddies I cant wait to hear the response to this if you have the nerve to even respond...LOL Explain how you PAY a debt with IOU's. [image]http://i123.photobucket.com/albums/o296/nine_one_one/stuff/rolling.gif[/image] A federal reserve note is a promise based on debt. It is not an asset. A note- should be redeemable in silver or gold- like it had been for over 100 years. Coins once were silver or gold- this means the money was backed by the metal itself. It was not possible to over inflate the money because the collateral was the coins themself.

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:27:05 PM)
Open any economics text, and turn to the chapter about money. You think money is a thing. It's not---it's a concept.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:30:44 PM)
Jim Sinclair tells King World News about Hunt Bros., attacks on currencies Gold investor and mining company operator Jim Sinclair has just given another interview to Eric King of King World News, discussing the Hunt Brothers' famous corner on silver in the 1970s and the use of credit default swaps to attack and destroy currencies today. The interview has been divided into two parts and the first part, about 25 minutes long, has been posted at the King World News Internet site here: http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/3/8_Ji...

Real0ne -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:32:00 PM)
quote: ORIGINAL: Musicmystery Open any economics text, and turn to the chapter about money. You think money is a thing. It's not---it's a concept. no shit huh? well try suing me for 1 million "concepts"! This is beyond my ability to contain myself I am laughing so fucking hard,

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:33:26 PM)
I am way too traditional for derivatives as my retirement.

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:33:31 PM)
Any economic text at all. It IS harder reading than smileys.com, and takes longer than insults and ridicule. But leads to much better arguments.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:36:27 PM)
6000 years trumps any Keynes stuff. Gold and silver have 6000 years of history behind them. long before we even had books- or even Keynes.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:37:34 PM)
http://www.google.com/search?q=Gold%20and%20silver%20have%206000%20years%20of%20history

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:37:37 PM)
Nope. Nothing to do with Keynes. Entirely to do with what is money---even 6000 years ago.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:39:02 PM)
I have quite abit of salt for trade.

pahunkboy -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:41:53 PM)
The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well. Why would it be different here in the U.S.? Well, in actuality, it hasn’t been. In fact, in our short history, we’ve already had several failed attempts at using paper currency, and it is my opinion that today’s dollars are no different than the continentals issued during the Revolutionary War. But I will get into that in a moment. In the meantime, I will show you that fiat currencies have not been successful, and the only aspect of fiat currencies that have stood the test of time is the inability of political systems to prevent the devaluation and debasement of this toilet paper money by letting the printing presses run wild/snip http://dailyreckoning.com/fiat-currency/

Musicmystery -> RE: WASHINGTON TIMES QUESTIONS WTC 7 COLLAPSE (3/8/2010 7:42:03 PM)
And if it were accepted as money, that would be fine. Or coffee beans. Or shells. Or Fed Reserve Notes. Or gold. Or purple stones. And if not, all worthless. Because money is a concept. No accepted concept, no value.

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