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GOLD VS DOLLAR

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April 05, 2008 – Comments (15) | RELATED TICKERS: GLD , GOLD

FYI - Gold vs Dollar: 

 

What is important about this video is where I found it:

http://digg.com/business_finance/GOLD_VS_DOLLAR

It is the second most dug story on digg.com. Digg.com is a site dominated by young people who typically post on video games, humor, IT gear, etc.... they are not typical "gold bugs"..... 

It is an amazing change in America, when the second most dug items on digg.com is about learning the issues of sound money. It is amazing how fast the internet is teaching people the relevant issues. 

Take a read of the comments:

 by santa7 on 04/05/2008 People keep dropping this subject as conspiracy but it really isn't. +137 diggs


by BeeArePro 7 hours ago Like my great great great grandfather used to say..."They invented paper money to take my gold, and then they invented plastic to take my paper money."

Wise words, they were.

15 Comments – Post Your Own

#1) On April 05, 2008 at 10:14 PM, abitare (94.81) wrote:

If you like that video here is:

Money, Banking and the Federal Reserve

 

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#2) On April 05, 2008 at 10:19 PM, abitare (94.81) wrote:

This is the best series here Corrupt Banking System - Cartels Robbing the Public:

 

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#3) On April 06, 2008 at 2:02 AM, Tastylunch (29.33) wrote:

I think when the young "get it" it also really underscores how bad this crisis has gotten (is getting). I'm sure the youth would be more than happy to turn a blind eye like the rest of America if times were good. (i.e. how many ppl on digg.com were talking about this in 2005?)

Heh Corvette inflation, nice analogy. Makes you wonder if cars actually do depreciate over time as most assume.:-) 

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#4) On April 06, 2008 at 2:19 AM, cluelessmorgan (90.98) wrote:

Great clip on post#2.

Most people today probably never seen the  currency that says "this  note is redeemable in gold at any Federal Reserve bank". I had a 1934 $5 bill that said that.  I got it when I was a kid and didn't understand it.  Of course, now I do.

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#5) On April 06, 2008 at 4:10 AM, camistocks (< 20) wrote:

The gold standard was a reason for the great depression, because the Fed couldn't increase the money supply, as people exchanged their money for gold. The Fed had to increase rates to make money more attractive and thus worsen the recession.

Just look how many recessions there were under the gold standard. 

And how few there where under the Fed system.

 

If the young "gamers" are liking gold instead of tech stocks or game reviews, I will sell gold and run away. The young have no clue and experience. I would suspect that even hairdressers and shoeshiners are recommending gold...? Remember how gold was pushed at above $1000? Where is it now? It will go nowhere in the next 6 months at least.

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#6) On April 06, 2008 at 8:15 AM, abitare (94.81) wrote:

ALCON,

Thank you for the replies.  

camistocks,

I believe the Austrian School explanation of the Depression. The excessive credit created by the FED caused a bubble that popped caused the First Depression. In fact the exactly same thing has happened again, casued by Greenspan and the FED.

shoeshiners are recommending gold...?

We are aligned here. Gold is the last FED / Greenspan bubble left to pop.  However, compared to stocks, gold and commodities related stocks have significantly outperformed.

The gold issue to me is about the war. More war? = buy gold and commodities

No war? The last Greenspan bubble will pop.

However, I believe EVERYONE should have some hard assets stockpiled in case of a dollar collapse. You could use Euro, Swiss franks, yen or renembi if you do not like gold/silver at these levels.  

 

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#7) On April 06, 2008 at 8:16 AM, abitare (94.81) wrote:

camistock,


 

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#8) On April 06, 2008 at 9:24 AM, ATWDLimited (< 20) wrote:

Great videos and comments, it correlates strongly with data I posted in march, in My GOLD Post. Also the fundamental weakness of the dollar is what I think is giving gold value, just look take a look at The official Dollar Report.

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#9) On April 06, 2008 at 7:52 PM, abitare (94.81) wrote:

ATWD,

wilco 

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#10) On April 06, 2008 at 10:15 PM, camistocks (< 20) wrote:

The famous Dow/Gold ratio. The only thing it shows is that in 2000 gold was very cheap/ undervalued vs the Dow, which was very overvalued/expensive. Since the chart touched the green lower line just recently, it means that gold is short term overvalued against the Dow and will underperform, until the upper red line is reached.

 

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#11) On April 06, 2008 at 11:09 PM, abitare (94.81) wrote:

camistocks,

I am not a big believer in technical analysis. But I believe many people trade off trend lines, moving averages etc... that it may work as long as everyone trades off the same plan. 

The buying on green selling on red is silly to me. But tenmile, who  has a better track record then me does trade off something like that.

My favorite chart pattern is on the ticker CROX, because it shows how bad following technicals can get you crushed.  

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#12) On April 07, 2008 at 2:02 AM, lquadland10 (< 20) wrote:

Oh Dear Aba, Thank you for my new falling tower of thinking and shaking of my foundations. So now let me shake yours. Let me get this straight. The United States of England formally America is not bankrupt because we still have money right? Now this money is backed by gold and silver right? No air you keep telling me. So........ As long as other people believe that my $100.00 dollar bill is not really made of air I am o.kIs that what we are telling each other now? Gas is still 25 cents and milk is about .45 cents. That means that my $10.50 hr is really 90 cents an hour? I've come a long way baby. So when is the march on Washington ? Shush........... Don't let anyone know about this because I want to use my $100.00  to buy some gold rings first before people realize the illusion about my $100.00 bill. After all it is just thin air. God; this sure hurts my head and to think this all started when I thought it would be a good idea for me to learn about what to do with my 401k plan. It is still a 401k plan right Aba?  What I  mean is that is not an Illusion is it?  Other that the fact that it is also just made up of just thin air?

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#13) On April 07, 2008 at 6:42 AM, abitare (94.81) wrote:

The FED does have some gold in reserves. No one knows how much, they have not been audited and there is no real ovesite. I understand the FED has $1 trillion to $800 billion in gold reserves. But there is an estimated $400-$500 trillion in derevatives traded, so the reserves are just a small fraction of what is traded. 

 

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#14) On April 07, 2008 at 6:51 AM, abitare (94.81) wrote:

From the digg comments: 

http://advancedcomputingdevices.com/zeitgeist/p3/

Money As Debt: http://video.google.com/videoplay?docid=-905047436 ...
The Money Masters: http://video.google.com/videoplay?docid=-515319560 ...
Fiat Empire: http://video.google.com/videoplay?docid=5232639329 ...
Money, Banking and the Federal Reserve: http://video.google.com/videoplay?docid=-466210540 ...
Monopoly Men: http://video.google.com/videoplay?docid=-706517734 ...
The Creature from Jekyll Island: http://video.google.com/videoplay?docid=6507136891 ...
Zeitgeist: http://video.google.com/videoplay?docid=-594683847 ...

 

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#15) On April 07, 2008 at 11:18 PM, lquadland10 (< 20) wrote:

Thank you Aba, May God Bless you and your family. I watched part of a few and will get to watch all. Say a prayer for my father please. He is not doing well, We start with the VA tomorrow. Take care and Rock ON. LQ.

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