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Thread: Pete HENDRICKSON's Lost Horizons - Solutions?

  1. #71
    bobbinville
    Guest
    Please don't do me any favors, JohnnyCash. I didn't go into all of the points in ManOnTheLand's post because I didn't think them worthy of being addressed; so I limited my response to what I know as a result of decades as a coin collector and as someone with a background in finance. I'll limit my response, this time, to one point: deflation occurs when too little money is available to support the economy. That's what happened from 1929-33, and is why the initial years of the Great Depression were as bad as they were. It's also why the Recession of 1938 occurred, as cuts in federal spending took money out of the economy. If there is too little silver and gold around to support the need for circulating money (and there are a lot more industrial uses for gold and silver than there were 50 years ago), deflation will occur; and if it continues for too long, recession and maybe depression follow.

    Paying less for goods is no benefit to us if we don't have the money to buy what's out there, or if people cease production because they cannot get a profitable price on the things that they sell.

  2. #72
    Quote Originally Posted by bobbinville View Post
    Please don't do me any favors, JohnnyCash. I didn't go into all of the points in ManOnTheLand's post because I didn't think them worthy of being addressed; so I limited my response to what I know as a result of decades as a coin collector and as someone with a background in finance. I'll limit my response, this time, to one point: deflation occurs when too little money is available to support the economy. That's what happened from 1929-33, and is why the initial years of the Great Depression were as bad as they were. It's also why the Recession of 1938 occurred, as cuts in federal spending took money out of the economy. If there is too little silver and gold around to support the need for circulating money (and there are a lot more industrial uses for gold and silver than there were 50 years ago), deflation will occur; and if it continues for too long, recession and maybe depression follow.

    Paying less for goods is no benefit to us if we don't have the money to buy what's out there, or if people cease production because they cannot get a profitable price on the things that they sell.

    It is wonderful to have you posting here! Please do not be swayed by presumptions of others.

  3. #73
    Quote Originally Posted by bobbinville View Post
    The problem with that analysis is that during our history, a large increase in the supply of either gold or silver raised havoc with our economy; and when there was too little gold around to provide us with an adequate money supply, our economy suffered -- that's why countries like the US and France, which stuck to the gold standard as long as possible, suffered worse than countries like the UK, which abandoned it during the 1920s. Then, look at Spain -- all that gold and silver extracted from the new world didn't make them into a world power. In fact, it did the opposite.

    Another factor to consider is the supply of gold and silver in today's world. It's getting harder and harder to get the stuff out of the ground; and the countries which still produce a lot of it have enough of it so that they could, if they so chose, manipulate metal prices (and thus our money supply) just like OPEC does with oil. Sorry -- but after having seen gold and silver soar in price since 2008, and then give back over half of the gains, I don't buy the premise that a silver-backed dollar would remain relatively stable.
    Greetings bobbinville,

    And what do you use as a comparative yardstick... the FRN? When was the last time the fiat dollar held a steady value? What has the value of the FRN done for the last 100 years? Nixon was the president that finally took us off the gold standard circa 1971. Low and behold, now we have a 17 trillion dollar debt. The two observations are inseparable. The debt we have today is a direct result of coming off the gold standard. Commodity based money will act, at least, as a throttle of runaway inflation. Right now we have nothing but incurable inflation, and it will only get worse.

    Bentley

  4. #74
    JohnnyCash
    Guest
    Spoken like a bankster protectionist, bobbinville. My study of history reveals the bankers caused the Great Depression with the oversupply of money initially (Roaring 20's) and then contraction of same, intentionally. I would gladly take deflation over our current bankster oppression.

    Coin collector? you don't sound like any coin collector I know. Here's a 1900 silver dollar from my collection: http://jesse2012.com//1900_Morgan.jpg

    I now know that the Federal Reserve/IRS scam is optional, that we need to be persuaded into it, and sending agents here for that purpose seems perfectly logical to me. Remember what FDR said "And, therefore, if we can persuade people all through the country, when their salary checks come in, to deposit them in new accounts, which will be held in trust and kept in one of the new forms I have mentioned, we shall have made progress."
    http://quod.lib.umich.edu/p/ppotpus/...?rgn=full+text

    Yes it's wonderful to have a representative of the banking cartel posting here. I may have further questions for you. I see that the suspected agents Skankbeat, freeme & cadman777 all stopped posting at the LostHorizons forum after they were outed. Hopefully you'll stick around.

  5. #75
    bobbinville
    Guest
    Bully for you! I've been collecting coins for 54 years now.

    I'm not going to enter into a debate on economics with you; but most people disagree with yout theory about the Great Depression. As for your FDR quote -- he was trying to get people to stop hoarding cash in mattresses, etc. and get it back into circulation, so that the effects of deflation could be reversed. You really need to study the early years of the Great Depression some more -- the loss of jobs, the closing of businesses, and so on -- and you'll see that deflation can be just as bad as inflation. Lower prices do you no good if you can't get enough money to buy anything, or if you have it but hoard it on speculation that prices will go lower still.

  6. #76
    JohnnyCash
    Guest
    Can't get enough money to buy anything? Are you serious? This is America, [redacted], we use anything & everything from bitcoins to our signatures to buy stuff.

    Your statements are dubious. Since you brought up the subject of your 1900 silver dollar, may we see a photo of yours alongside some evidence that it is in fact, yours?
    Last edited by JohnnyCash; 07-06-13 at 12:51 PM. Reason: remove the J-word

  7. #77
    Yeah, the problem in 38 was not enough government spending. Always need more govt spending, right Mr Keynes?

  8. #78
    bobbinville
    Guest
    Jay who? That isn't my name or handle.

  9. #79
    bobbinville
    Guest
    I'm not your Economics professor, Johnny. Read up on "deflation" -- Wikipedia is not a bad place to start; but at any rate bitcoin didn't exist in 1929. A little research will come up with other examples where deflation crippled an economy. Of course, it can also benefit an economy, where inflation is a problem; but during 1929-33 it hurt ours pretty badly.

  10. #80
    bobbinville
    Guest
    If you are asking me to post photos of my own silver dollars, or any of my coins, to prove that they are mine -- no. For one thing, it is no one's business but my own what coins I have; and for another, I could just as easily borrow a coin and scan it. I will say that the bulk of my collection consists of Canadian, British, German and Swiss coins -- especially for the latter three, finding a bargain is easier.

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