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FreeMarkets (41.10)

Looking for a Gold Bug Imperialist



February 16, 2011 – Comments (9) | RELATED TICKERS: TZA

For quite some time Paul Krugman has mocked gold bugs and defended fiat currency's.  Many people here take sides as the topic of money is of interest to us, while most Americans don't know what we are writing about or why anyone in their right mind would care.

Recently I've watched the Ken Burn's documentary on Mark Twain, and was interested in how much Twain despised Teddy Roosevelt.  This is the great progressive President of the day.  The President who would use gov't power to break up monopoly's, clean up our food system and begin the process of creating the Federal Reserve.  Twain despised Roosevelt because he was an imperialist and it made me think, are there any gold bug imperialists?

Yes, there are many who prefer a fiat currency that are not imperialists, but of all the imperialists in the world today, do any go around saying we need to bring back sound currency?  I can not think of one.

Certainly George W Bush is an imperialist, and the neo-cons who follow him seem to adore the wars he has started.  The Sean Hannity / Rush Limbaugh's of the world are huge supporters of the war, yet they never demand Congress repeal the Federal Reserve Act.

Obama is another imperialist, expanding the war in Afghanistan and pushing through the Patriot Act yet again (seriously, has Obama done anything differently than GWB or is everything just on a grander scale).  But I digress, can anyone name me an imperialist Gold Bug?  Is it an oxymoron?

PS: For those following my market timing, I'm waiting for TZA to drop to the low $11's (which I'm expecting in late March) to begin shorting this market.  Will continue to keep you posted.

9 Comments – Post Your Own

#1) On February 16, 2011 at 12:48 PM, whereaminow (< 20) wrote:

That's a great point. It should be obvious that if you have imperial designs, paper money is the currency of choice. 

I've never come across a gold bug imperialist, but perhaps there have been some I just missed.

David in Qatar

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#2) On February 16, 2011 at 1:02 PM, leohaas (30.11) wrote:

Any idea how much gold the Nazis stole? From other countries, from businesses, and from ordinary citizens?

True, Hitler was not in favor of gold as money for the masses, but he definitely was a gold bug. But don't worry, I won't hold it against today's gold bugs. That would be just as silly as your blog...

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#3) On February 16, 2011 at 1:06 PM, whereaminow (< 20) wrote:

2 commnets before we proved Godwin's Law. Is that a record?

David in Qatar

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#4) On February 16, 2011 at 1:09 PM, FreeMarkets (41.10) wrote:

#2 - I'm certain GWB has lots of gold too, but I am talking about politicians who demand a sound currency.  The Nazi's and all of Europe left the gold standard before WW2.

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#5) On February 16, 2011 at 1:10 PM, FreeMarkets (41.10) wrote:

PS:  In no way am I comparing GWB to Hitler.

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#6) On February 16, 2011 at 2:00 PM, leohaas (30.11) wrote:

#3: I pointed out that is was silly. You did read that part of the comment, didn't you?

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#7) On February 16, 2011 at 2:03 PM, whereaminow (< 20) wrote:



David in Qatar

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#8) On February 16, 2011 at 3:11 PM, motleyanimal (35.84) wrote:


writes: " PS:  In no way am I comparing GWB to Hitler."

But all leaders are compared to Hitler. It is well established that GWB was worse than Hitler. Obama, is still only second to Hitler, but has time to start a third war, making him worse or better than Hitler, depending on your political persuasion.

My experience with currency is that almost anything from seashells to shiney rocks will work so long as enough people think it has value.

BTW, I am selling fresh oranges from my tree for only 1 oz. of gold bullion per orange. Everyone should buy some now before Peter Schiff makes another video.

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#9) On February 16, 2011 at 3:26 PM, ChrisGraley (28.49) wrote:

Leo, I believe you called the blog silly and David demonstrated the superior silliness of your reply.

Freemarket, I believe I would be a gold bug imperialist.

I do want my own island somewhere that is not controlled by any country. I don't really want any bloodshed, but I am willing to thumb wrestle some 3rd world dictator for one though.


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