The Biggest Scam In The History Of Mankind (You must watch this!)

[OwlHoot]

... You might not like this. What does the abstractor of the abstractions contribute to the human race ?
Not much. But be careful. If you close the whole system down, the cold wind will blow straight up your hallway, and there will be nothing to keep the other robbers out

Very true

From "A Man for all Seasons" (discussing law rather than fiat money, but a similar principle) :

Roper: So now you'd give the devil the benefit of law?

More: Yes. What would you do? Cut a great road through the law to get after the devil?

Roper: Yes, I'd cut down every tree in England to do that.

More: Oh, and when the last law was down and the devil turned 'round on you where would you hide, Roper, the laws all being flat? This country is planted thick with laws from coast to coast, man's laws not God's, and if you cut them down - and you're just the man to do it - do you really think that you could stand upright in the winds that would blow then? Yes, I'd give the devil the benefit of the law, for my own safety's sake.

[kingcook]

I remember speaking to a financial advisor at Halifax many years ago (before the recession). He said that for every £1 the bank invests, it makes £15 in return. I thought he was talking bollocks at the time, maybe he wasn't...

[petergriffin]

how did it change your life exactly ? what are you doing differently ?

I was kidding. I don't really have a life, so it doesn't really change much. However now a lot of questions have been answered.

I am following James G. Rickards (he's got a twitter page), that's where I got the link for that video but now I'll follow Mike Maloney too.

I don't care if they have a vested interest in selling gold bullion. Unlike many on this board, I don't work in the Wharf so if the banks collapse, fine.

[cojak]

I don't care if they have a vested interest in selling gold bullion. Unlike many on this board, I don't work in the Wharf so if the banks collapse, fine.

Then let's hope you don't have any savings either.

[scooterscot]

ah yes. the old black and white analogy.


I have a different view.
If the system is corrupt, as the OP suggests, and I get ripped for 6 %, but I manage to make 12 %, should I worry ?

If I revolted and overturned the system, I might be 6% better off, but their would be no 12%, no police , no water, no lekky, no interweb, no pubs and no kentucky fried fckng chicken

I think the point was lost on you. The currency that now exists (well $), the 12% you think you're getting, has no value. It came from thin air.

For me the interest lies in how banks can lend that they haven't got. Wonder if the gold standard will return.

[scooterscot]

Interesting no one has picked up on the point with every bit of borrowing the state helps itself too we rob opportunity for future generations.

[aussielong]

I think the point was lost on you. The currency that now exists (well $), the 12% you think you're getting, has no value. It came from thin air.

For me the interest lies in how banks can lend that they haven't got. Wonder if the gold standard will return.

It's a confidence trick. We all saw recently it breaks when you get a run on a bank. Not only banks that do it. Fitness First does it. They sell 90% more memberships than they could service if everyone turned up at the gym right now.

People will always have to exchange stuff because of localisation of production. You grow good oranges, I dig good coal, lets swap. How do I establish how many oranges equal one lump of coal? Supply and demand. Once I know the value, I can compare against different suppliers of oranges and get the best deal. Valuation enables a market. Value is a market making abstraction, so nothing has inherent value, not even gold.

You can't beat the system. You can only make your time in the system as painless as possible.

[scooterscot]

People will always have to exchange stuff because of localisation of production. You grow good oranges, I dig good coal, lets swap. How do I establish how many oranges equal one lump of coal? Supply and demand. Once I know the value, I can compare against different suppliers of oranges and get the best deal. Valuation enables a market. Value is a market making abstraction, so nothing has inherent value, not even gold.

Trade is important for sure. But when you start trading you time, blood sweat and tears for a piece of paper that has no value, questions need to be asked.

I agree gold has next to no value yet it's price is high. Your example of oranges & coal is valid only for as long as both supplies appear inexhaustible.

There was a massive fire in a sugar factory Brazil yesterday, nearly 200 tons of sugar up in smoke. Prices of sugar around the world began shooting up. You can't trade that you haven't got but still everybody wants some, so it's value shoots up. And in return I'm offered more of this valueless paper as compensation? When the bottom falls out of the dollar I don't want to be anywhere near it.

[SimonMac]

Watch Max Keizer on RT

That guy is either a legend or a loon, I am haven't quite decided, but its great to watch lol!

[Freamon]

Trade is important for sure. But when you start trading you time, blood sweat and tears for a piece of paper that has no value, questions need to be asked.

I agree gold has next to no value yet it's price is high. Your example of oranges & coal is valid only for as long as both supplies appear inexhaustible.

There was a massive fire in a sugar factory Brazil yesterday, nearly 200 tons of sugar up in smoke. Prices of sugar around the world began shooting up. You can't trade that you haven't got but still everybody wants some, so it's value shoots up. And in return I'm offered more of this valueless paper as compensation? When the bottom falls out of the dollar I don't want to be anywhere near it.

Reminds me: Why did The K Foundation burn a million quid? (part 3 of 4) - YouTube (skip to 10m30s in)