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Post by Entendance on Sept 14, 2022 10:45:24 GMT -5
'During the Dutch Tulipmania, the price of one special, rare type of tulip bulb called Semper Augustus sold for 1000 guilders in 1623, 1200 guilders in 1624, 2000 guilders in 1625, and 5500 guilders in 1637. Shortly thereafter, the bottom fell out of the market and prices plummeted to 1/200 of their peak price – a mere 27 guilders.
In the artwork above an individual, portrayed in fool’s garment, is shown trading a hefty pouch of gold for a handful of tulip bulbs. It is no mystery who got the better part of that bargain.
History teaches us that no era is immune to financial mania including our own. As a matter of fact, a good many believe that we are fully immersed in a stock market mania (wherein many include bitcoin) right now.
Since the earliest days of the USAGOLD website (the mid-1990s), we have enshrined a quote from Thomas Bailey Aldrich at our home page: “The possession of gold has ruined fewer men than the lack of it.” Aldrich’s axiom has held true down through the ages. It applied in ancient Greece and Rome, in 11th century China, in the time of the Medicis, the Dutch Tulipmania, the South Seas Bubble and French fiat money mania, during the long string of panics in the late nineteenth and early 20th centuries (Aldrich’s time), the spate of post World War I and II hyperinflations (Austria, Germany, Greece, Hungary, et al) and it still applies today.'
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Post by Entendance on Oct 21, 2022 4:40:07 GMT -5
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Post by Entendance on Nov 11, 2022 5:50:39 GMT -5
What I did not understand was how highly concentrated bitcoin ownership is by its nature, and why the 'bitcoin' market is becoming increasingly fragmented with different groups with their own architecture creating their own non-interchangeable types of bitcoins and crypto-currencies.
The key to this is obviously going to be the middlemen, the exchanges. And I do not believe that they are particularly well founded or regulated. The technocrats are essentially making it up as they go along, and they do not necessarily agree, or have to agree, with each other.
I cannot believe that the regulators have allowed the CME to bring out futures for these things, which apparently they are going to do over the weekend. The Bitcoin market seems much more like the very early over-the-counter stock market under the buttonwood tree. Or perhaps even tulipmania.
I am not saying that everyone involved with this is acting in bad faith. Not at all. And something like a cryptocurrency *could* become real money some day. It needs someone with a lot of financial clout to stand behind it with sufficient full faith and credit at a stable value of exchange for some particular flavor of crypto-coin. This is just my own, certainly fallible, judgement. But based on everything I know this is nuts. And it is going to end very badly. -Jesse, One Thousand People Own 40% of Bitcoin Market, 8 December 2017
Turns out that the fundamental principal in Decentralized Finance (DeFi) is that every firm must be deeply interconnected with other firms, each holding the other’s token, and lending to the other, and bidding up each other’s tokens, so that if one firm goes to heaven, they all go to heaven together – which they did – and when one firm goes to heck, they all go to heck together – which they’re now doing. Makes for very smooth and efficient contagion.
They all hold each other’s tokens, and they all bid up each other’s tokens to mind-boggling levels amid gobbledygook theories of the new financial world, called DeFi, but now they want to sell each other these tokens, and prices collapse and exchanges, trading firms, and lenders go to heck? -Wolf Richter, Cryptos Plunge, Contagion Sweeps Across DeFi, 9 November 2022
Most people who say they are using bitcoins for transactions are really just trading obligations held in trust by some third party. If you have made money on it great. But in my own estimation, and I could be wrong, the hyping involved in bitcoin is all too reminiscent of the dot com bubble. And there is no talking to people who are seized by the desire to be rich, and those who seek power. Like the dot com bubble, I suspect that the rewards from this digital gold rush will be taken primarily by those who sell the picks and shovels and storage and assaying services to the miners, and a few insiders and lucky early adopters. And the average person is going to get skinned. -Jesse, Bitcoin, the Mania, 26 December 2017 
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Post by Entendance on Dec 24, 2022 7:56:51 GMT -5
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Post by Entendance on Jan 6, 2023 9:07:44 GMT -5
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Post by Entendance on Jan 11, 2023 6:56:46 GMT -5
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Post by Entendance on Feb 3, 2023 5:23:06 GMT -5
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Post by Entendance on Feb 9, 2023 2:30:39 GMT -5
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Post by Entendance on Feb 11, 2023 3:06:25 GMT -5
I believe that banking institutions are more dangerous to our liberties than standing armies. -Thomas Jefferson
When bad men combine, the good must associate; else they will fall one by one, an unpitied sacrifice in a contemptible struggle. -Edmund Burke This is what we're up against: a status quo that has institutionalized soaring inequality and rising poverty as the only possible output of defending the privileged few at the expense of the many... -The Entendance Beach
The Noah rule: predicting rain doesn't count, building arks does. When did Noah build his ark? The answer of course is: before it began to rain.
He who has ears, let him hear.
As it was in the days of Noah, so it will be also in the days of the Son of Man.They ate, they drank, they married, they were given in marriage, until the day when Noah entered the ark, and the flood came and destroyed them all. Likewise as it was also in the days of Lot: They ate, they drank, they bought, they sold, they planted, they built; but on the day that Lot went out of Sodom it rained fire and brimstone from heaven and destroyed them all. Even so will it be in the day when the Son of Man is revealed. -Luke 17:26-30
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Post by Entendance on Mar 5, 2023 10:27:40 GMT -5
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Post by Entendance on Mar 21, 2023 4:37:36 GMT -5
'...If competition in money isn’t the way to go, how do we get to free market money? As usual Murray has the answer:
“We conclude, then, that the dollar must be redefined in terms of a single commodity, rather than in terms of an artificial market basket of two or more commodities. Which commodity, then, should be chosen? In the first place, precious metals, gold and silver, have always been preferred to all other commodities as mediums of exchange where they have been available. It is no accident that this has been the invariable success story of precious metals, which can be partly explained by their superior stable nonmonetary demand, their high value per unit weight, durability, divisibility cognizability, and the other virtues described at length in the first chapter of all money and banking textbooks published before the U.S. government abandoned the gold standard in 1933. Which metal should be the standard, then, silver or gold? There is, indeed, a case for silver, but the weight of argument holds with a return to gold. Silver’s increasing relative abundance of supply has depreciated its value badly in terms of gold, and it has not been used as a general monetary metal since the nineteenth century. Gold was the monetary standard in most countries until 1914, or even until the 1930s. Furthermore, gold was the standard when the U.S. government in 1933 confiscated the gold of all American citizens and abandoned gold redeemability of the dollar, supposedly only for the duration of the depression emergency. Still further, gold and not silver is still considered a monetary metal everywhere, and governments and their central banks have managed to amass an enormous amount of gold not now in use, but which again could be used as a standard for the dollar, pound, or mark.
This brings up an important corollary. The United States, and other governments, have in effect nationalized gold. Even now, when private citizens are allowed to own gold, the great bulk of that metal continues to be sequestered in the vaults of the central banks. If the dollar is redefined in terms of gold, gold as well as the dollar can be jointly denationalized. But if the dollar is not defined as a weight of gold, then how can a denationalization of gold ever take place? Selling the gold stock would be unsatisfactory, since this (1) would imply that the government is entitled to the receipts from the sale and (2) would leave the dollar under the absolute fiat control of the government.
It is important to realize what a definition of the dollar in terms of gold would entail. The definition must be real and effective rather than nominal. Thus, the U.S. statutes define the dollar as 1/42.22 gold ounce, but this definition is a mere formalistic accounting device. To be real, the definition of the dollar as a unit of weight of gold must imply that the dollar is interchangeable and therefore redeemable by its issuer in that weight, that the dollar is a demand claim for that weight in gold.
Furthermore, once selected, the definition, whatever it is, must be fixed permanently. Once chosen, there is no more excuse for changing definitions than there is for altering the length of a standard yard or the weight of a standard pound.
Before proceeding to investigate what the new definition or weight of the dollar should be, let us consider some objections to the very idea of the government setting a new definition. One criticism holds it to be fundamentally statist and a violation of the free market for the government, rather than the market, to be responsible for fixing a new definition of the dollar in terms of gold. The problem, however, is that we are now tackling the problem in midstream, after the government has taken the dollar off gold, virtually nationalized the stock of gold, and issued dollars for decades as arbitrary and fiat money. Since government has monopolized issue of the dollar, and confiscated the public’s gold, only government can solve the problem by jointly denationalizing gold and the dollar. Objection to government’s redefining and privatizing gold is equivalent to complaining about the government’s repealing its own price controls because repeal would constitute a governmental rather than private action. A similar charge could be leveled at government’s denationalizing any product or operation. It is not advocating statism to call for the government’s repeal of its own interventions.
A corollary criticism, and a favorite of monetarists, asks why gold standard advocates would have the government ‘fix the (dollar) price of gold’ when they are generally opposed to fixing any other prices. Why leave the market free to determine all prices except the price of gold?
But this criticism totally misconceives the meaning of the concept of price. A ‘price’ is the quantity exchanged of one commodity on the market in terms of another. Thus, in barter, if a package of six light bulbs is exchanged on the market for one pound of butter, then the price per light bulb is one-sixth of a pound of butter. Or, if there is monetary exchange, the price of each light bulb will be a certain weight of gold, or, these days, numbers of cents or dollars. The important point is that price is the ratio of quantities of two commodities being exchanged. But if money is on a gold standard, the dollar and gold will no longer be two independent commodities, whose price should be free to fluctuate on the market. They will be one commodity, one a unit of weight of the other. To call for a ‘free market’ in the ‘price of gold’ is as ludicrous as calling for a free market of ounces in terms of pounds, or inches in terms of yards. How many inches equal a yard is not something subject to daily fluctuations on the free or any other market. The answer is fixed eternally by definition, and what a gold standard entails is a fixed, absolute, unchanging definition as in the case of any other measure or unit of weight. The market necessarily exchanges two different commodities rather than one commodity for itself. To call for a free market in the price of gold would, in short, be as absurd as calling for a fluctuating market price for dollars in terms of cents. How many cents constitute a dollar is no more subject to daily fluctuation and uncertainty than inches in terms of yards. On the contrary, a truly free market in money will exist only when the dollar is once again strictly defined and therefore redeemable in terms of weights of gold. After that, gold will be exchangeable, at freely fluctuating prices, for the weights of all other goods and services on the market.
In short, the very description of a gold standard as ‘fixing the price of gold’ is a grave misinterpretation. In a gold standard, the ‘price of gold’ is not unaccountably fixed by government intervention. Rather, the ‘dollar,’ for the past half-century a mere paper ticket issued by the government, will become defined once again as a unit of weight of gold.”
As usual, Murray is right. We should for a return to the gold standard, not waste time with space cadet fantasies about new kinds of money.' |
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Post by Entendance on Mar 24, 2023 5:16:55 GMT -5
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Post by Entendance on Mar 25, 2023 0:10:57 GMT -5
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Post by Entendance on Mar 29, 2023 5:24:29 GMT -5
Gold in six easy lessons
1. Don’t buy it because you need to make money; buy it to protect the money you already have.
2. Don’t look at price as a barrier; look at it as an incentive.
3. Don’t buy the paper pretenders; buy the real thing in the form of coins and bullion.
4. Don’t fall prey to glitzy TV ads; do your due diligence instead.
5. Don’t allow naysayers to divert your interest; allow yourself the right to protect your interests as you see fit.
6. Don’t forget the golden rule: Those who own the gold make the rules! |
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Post by Entendance on Apr 5, 2023 4:11:50 GMT -5
'...Ultimately, COMEX and LBMA are going to fail to deliver, and then you will see an absolute moonshot in Gold and Silver...' |
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Post by Entendance on Apr 15, 2023 12:13:34 GMT -5
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Post by Entendance on Apr 23, 2023 4:40:54 GMT -5
Holding Gold in Banks Invites Counter-Party Risk!
Investors bracing for any and all macro eventualities recognise that holding physical Gold within such banks (or ETF “paper gold” held at these institutions) invites far too much operational and counter-party risk.
Physical Gold held in the banking system, even in segregated or specially allocated accounts, is vulnerable to inherent counter-party risk. In the event banks or their intermediary custodians or managers ever experience illiquidity or other structural failure, client gold is compromised.
In such circumstances, investors would find themselves standing in line as second priority holders rather than direct owners of their own precious metal assets.
Farsighted and informed investors recognise that direct, secure and unencumbered ownership of Gold and Silver is so critical to safeguarding their financial future in an era of historical debt and currency distortion.
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Post by Entendance on May 7, 2023 7:05:07 GMT -5
For YEARS we have been witnessing an ever-increasing gap between any kind of reality, the stock market, and just about everything else. It’s always the same story, which also without exception always ends the same way- very badly.
Let’s get started with this.
What is “the job” of the stock market? Simple: TO ESTABLISH FAIR VALUE.
In a real market there are buyers and sellers who agree to buy and or sell an asset at a particular price, and this mechanism establishes a fair market value. Today this mechanism of finding fair value in the market, which is the backbone of how a free and fair market is supposed to work, has been totally removed.
Today it’s central banks who collectively run and manage the entire world economy, the markets, and the financial system itself. Central banks have created an environment where they have become a “third player” in every single two-party buyer/seller transaction. Central banks have done this, become a third player in every single transaction, via manipulation of the value of the currency/devaluing it, and by vastly expanding the debt. Not only does the manipulation of currencies and expanding debt affect transactions in the market arena, but it also affects every single transaction that you personally make.
When you purchase goods or services of any kind, be it food, clothing, paying your utility bills, etc., a central bank is involved in the transaction. A central bank is not only involved in every single transaction that you make simply because the currency which you use in your transactions just happens to be central bank issued notes, but also because of currency value depreciation and debt expansion.
What are the consequences of currency value depreciation and debt expansion? INFLATION.
Going beyond the obvious.
Collectively central banks have kept bond yields/rates artificially low for well over a decade. Central banks have kept rates low by issuing, and then buying back, via a revolving door mechanism multiple trillions of dollars’ worth of debt. And although central banks have been for many months raising rates, there remains no resemblance whatsoever of any kind of fair value for debt.
Central banks keeping rates artificially manipulated to the downside for well over a decade now is not only massively inflationary, but it also creates enormous price distortions throughout the spectrum of asset classes.
Artificially suppressed rates creates something called “malinvestment.”
Malinvestment is the direct result of easy money/low-cost credit. With malinvestment cash makes its way into assets that it has no business going into. The two main results of malinvestment are stock market and real estate bubbles, and in today’s environment these could be defined as HYPER-bubbles.
Malinvestment also creates inverse bubbles.
An inverse bubble is the gross undervaluing of a particular asset or asset class. As an example of inverse bubble(s) one could look at physical gold and silver. Inverse bubbles are created by malinvestment. Stock market/real estate bubbles/price action distortions/malinvestment are not sustainable in perpetuity, and eventually reality does set in. Reality leads to stock market crashes, housing crashes, economic depressions, and war. -Gregory Mannarino
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Post by Entendance on May 18, 2023 8:59:19 GMT -5
- Fiat currencies don’t float. They just sink at different rates.
- Physical Gold is not bought for instant gains but as insurance and protection against a rotten financial system and constantly depreciating currencies.
- If you buy Gold for the right reason, you are buying ounces or kilos of real wealth that should not be measured on a regular basis in a currency which is being debased on a daily basis with unlimited printing of worthless paper money.
- Your best friend when it comes to supporting the value of Gold is your central bankster. Remember that throughout history he has without fail worked diligently to destroy the currency.
- Right now we are in the midst of the biggest global money printing exercise in history. Gold has not even started to reflect the total annihilation of paper money
- Like all manipulation the chicanery in the paper Gold and Silver markets will eventually fail spectacularly.
- In the coming bear market for currencies and bull market for precious metals, Gold and Silver will not just maintain purchasing power but massively outperform and become the must have investment.
- But above all, do not buy Gold and Silver for speculative purposes. Gold and Silver is your insurance against the coming end of a monetary era when all currencies and bubble assets will implode.
 !
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Post by Entendance on Jul 25, 2023 5:32:43 GMT -5
The opinion of 10,000 men is of no value if none of them know anything about the subject. -Marcus Aurelius
It Is Difficult to Get a Man to Understand Something When His Salary Depends Upon His Not Understanding It. 
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Post by Entendance on Jul 27, 2023 5:12:37 GMT -5
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Post by Entendance on Aug 18, 2023 10:46:26 GMT -5
'A few days ago YouTube amended their Covid19 Misinformation policy, changing it so it now applies to all things medical. The original policy was put in place in the early days of the pandemic, May 2020, and outlawed content in the video sharing platform that “contradicted the WHO or local health authorities” concerning the pandemic...'
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Post by Entendance on Aug 27, 2023 1:02:17 GMT -5
 '...Today, I want to address a matter of utmost importance – the European Union’s Digital Services Act (DSA) law, its implications, and our stance as a platform committed to protecting free speech. The law goes into effect starting today and Gab will not be complying.
Recent developments have brought this law to the forefront, as it seeks to reshape the landscape of social media regulation within the EU. This legislation, while introduced with the intention of curbing content that is already illegal, brings with it certain provisions that infringe upon the very essence of open dialogue and free speech.
This is another government censorship scheme like all the rest. If the EU thinks they can get an armored division on the ground and into our offices in Pennsylvania they’re welcome to try. Until that day we’re an American company, with no presence outside of the United States, operating a constitutionally protected business and we will continue to extend freedom to the entire world, as is our God-given and unassailable constitutional right...' -Andrew Torba CEO, Gab
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Post by Entendance on Sept 2, 2023 2:26:25 GMT -5
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Post by Entendance on Sept 25, 2023 12:40:53 GMT -5
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Post by Entendance on Sept 29, 2023 16:52:07 GMT -5
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Post by Entendance on Oct 9, 2023 2:48:48 GMT -5
Remember: when everyone gathers on one side of a ship, the vessel sinks, and everybody drowns.
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Post by Entendance on Oct 12, 2023 5:17:11 GMT -5
It's frightening to think that you might not know something, but more frightening to think that, by and large, the world is run by people who have faith that they know exactly what's going on. -Amos Tversky
Give a small number of people the power to enrich themselves beyond everyone's wildest dreams, a philosophical rationale to explain all the damage they're causing, and they will not stop until they've run the world economy off a cliff. -Philipp Meyer
The US has been in a cycle of bubbles, busts, and crashes since at least 1995, and more likely since Alan Greenspan became the Chairman of the Federal Reserve in August, 1987.
The cycle is the same, only the depth and duration seems to change in a continuing 'wash and rinse' of the public money and the real economy.
It has become a machine for transferring income, wealth, ownership, and power to the very top.
This is not 'the new normal.' This is financial corruption and the erosion of systemic integrity.
Are there any markets that have not been shown to have been systematically manipulated, for years?
This is just institutionalized looting. -Jesse
Starve the banksters, exit their fake markets, keep on stacking Physical Gold & Silver❗️
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Post by Entendance on Oct 19, 2023 3:08:08 GMT -5
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Post by Entendance on Nov 3, 2023 13:19:37 GMT -5
Old Japanese saying: The nail that sticks its head up highest gets hammered first. |
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30% STOCK CRASH NEXT
Basically, you make money 
2017-Today The E. Beach & 
Which historical bubble is 
