As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina.
In an interview, Pitts told Hotsheet that he believes that "if the federal government continues to spend money at the rate it's spending money, and if it continues to print money at the rate it's printing money, our economic system is going to collapse."
"The Germans felt their system wouldn't collapse, but it took a wheelbarrow of money to buy a loaf of bread in the 1930s," he said. "The Soviet Union didn't think their system would collapse, but it did. Ours is capable of collapsing also."
More Here
9,500 Shuttered Stores In Sacramento Area
More Here
Hey hey hey !
ReplyDeleteSo,ebody with Kahunnas ! I like this guy ( and I'm from Michigan !)
I like the rest of the article which "they" argued that since gold and silver flucuate in value so much you couldn't base a stabile currency on them !
What are they talking about ? How stupid do they think we are exactly with our dollar being worth about what 6 cents or so?
They say it and then back away - it's so humorus
" flucuate in value" VALUE
that's a whole lot more than I can say for the dollar ( worthless)
Hey, check the link. It is not there anymore. So, what is the story?
ReplyDeleteLINK PLEASE
ReplyDelete7:03 is a moron, if the dollar is worthless then I will be happy to take all your $$ and put them in my bank. You need some help in the economics sector. You think the US $$ is in trouble? Look at Euroland, they have more insolvent banks than you can shake a stick at, and in the end the Euro will look like shit compared to the US $$. Then money will flow back into the US $$. All this talk about hyper inflation this and that, blah blah blah.....if you can read between the lines even the FED is dropping hints of deflation.
ReplyDeleteAll this talk about how silver and gold are the only thing to buy is dangerous strategy at best, we will see new lows soon, then a flight back into $$ and the markets.
No I am not a friggin troll, just sick of all this talk about how pm's are the only game. $$ has not seen new highs yet folks, just saying keep the broader picture in sight too for more money making oppotunities
8:26 you are a sheep. A dumb one at that..the 98% group of dummies. Nice to see you! Take a hit for your team!
ReplyDelete8:26 the feds are dropping hints so fools like you can listen to them, sort of like we have no debt and everything will be alright. WOW are you clueless
ReplyDelete8:32 and 8:35 are ignorant at best and choose to travel the narrow road without looking at the broader picture. I never said we didn't have any debt moron, simply to look around, there is still money to be made amidst all the turmoil....really compelling arguement you two goofballs offer, sound advice indeed. Like I said to the first idiot, if your dollars are worthless give them to me, as mine still buy me goods and food. What happy juice you folks drinking?
ReplyDeleteThat link to the Sacramento story is scary shit. I was there last month on a road trip. Google Elk Grove Promenade, this is a mall just south of the city that sits there like a albatross, unfinished. I got off the exit and road around, very sad. Just sitting and rotting, the tip of the iceberg.
ReplyDeletei love when you call people names for realizeing
ReplyDeletethat paper is paper and gold is gold
gold is for the rich
silver for the middle class
copper for the peasents
and debt for the slave
the dollar is worth less
worth less
worthless
i drink choclate milk
only a fool cant see the all this oppotunities
you talk about
also if your doing so well why are you posting here
you have so much money shouldnt you be on your boat or in your car
cnn viewers down to 400 thousand
looks to me many americans stopped drinking the happy juice
gold is money and money is gold
germany ww 2 spain dablume
even fdr was scared of gold 1934
so when you spew out how great it is im shore that cnn will put you on call them up
heres one for yea
1980 pack of cigerates 1 .75
today ny 9.50
thats not inflation thats rape
you my friend suffer from the stolckhome syndrome you like to be gang raped
go to greece theyll tell you
but i digress happy juice for everyone the titanic sinks to you 913 and people like you
may someone always give you food
9:13 I don't think you quite understand what "money" is. Fiat money is just about worthless, it has dropped in buying power over 88% since 1913. The debt will NEVER be paid off, therefore the US dollar will lose its "power" and hit 100%. You, sir, will be stuck with holding the bag, sort of like a bagholder of the worst stock imaginable. I'll trade your gold and you can have my cash. I know you don't have any.The IMF is selling another few hundred tons to China and India, its called a transfer of wealth. What poison are YOU drinking?
ReplyDelete10:00 You must be a liberal Marxist as you want to take others dollars with nothing in return. I'll exchange you my fiat dollars for your gold in an equal dollar amount(1oz of gold at market price of $1101.00 fiat dollars). Come on, do me a favor. Ohh, never mind, I was taught not to take advantage of an idiot.
ReplyDeleteIt will take years for world to move away from the Dollar.
ReplyDeleteAs far as keeping nothing but dollars Im not gonna do it.If anyone thinks now is the time for making super profits with stocks etc. they have gotta be Crazy, But there are gamblers everywere that do sometimes win at these things.The odds are like winning the lottery too!!
ReplyDeleteInteresting, EA only allows those posts he chooses, no counter points allowed.
ReplyDelete8:26. Yes the U.S. dollar with remain the reserve currency for many more years. But that isn't based on it's strength but the overall weakness of all fiat currencies. The dollar index has rebounded from it 74 low to 81. BUT. It was 120 at the start of the last decade. In that time there has been 2 wars that has caused the deficit to more than double. The long run trend for the dollar is down. To pay off the debt you have to devalue the currency. So regardless Gold is going up in the future. That's economics 101. Or economics for dummies. Dummy.
ReplyDeleteBy the way, you can have deflation and inflation at the same time. If you were alive in the 70's.