Bengunnscave

The 'Great Slump' of 2008 (Part 1)

Bosun.J, I understand your point, however, when consumption is taxed, taxes become more of a personal choice. The "poor" only pay a higher percentage of their income when they are attempting to purchase beyond their means...$30,000 pickup trucks, another flat screen TV, etc.

I would add that the national sales tax should not tax food, and while we are at it don't tax trips to the consignment store for clothing....reward frugality.

I wouldn't call that a "Really Bad Idea" any more than our current system or the myriad of other complicated solutions.

The 'Great Slump' of 2008 (Part 1)

Heres a what if answer for you....Tax Consumption, establish a National Sales Tax....Abolish the "Income Tax"...and in the process severely reduce the 92,000 strong IRS workforce reconstituting their pay into our coffers.

Thanksgiving Has Been Historically Favorable to Gold Price

The point is not to tell you that I am right or you are wrong, but rather to take the opportunity for all readers to reflect that none of us has the right to claim we know the ultimate truth for all of us.

After reading your response however, I realize that perhaps you do hold the ultimate truth. You are right, the USA is the best, everyone else is below us, they all want to be just like us because we are the best, we always have the moral high ground, anyone who dislikes us is in the wrong and anyone who disagrees with us must be wrong. Sure we make some honest mistakes but we always correct them. We are not ethnocentric because we are always in the right. We will remain on the top of the world because we are the greatest and we do not need to question our own views because we already know they are right!

Thanks for your insight, I've finally got it, it is all so clear for me now.

And also thanks for helping to prove my point for me with your response. I'll go ahead and let you have the last word since you are the holder of the truth.

And then we can get back to the issue at hand, whether or not you would like to put this aside and join me for a drink on my pirate island whilst counting dubloons?

Thanksgiving Has Been Historically Favorable to Gold Price

Food for thought 'Socialism cannot compete'. The 'damaged credibility' and ethnocentric issues of the Muslim culture are perhaps only matched and exceeded by our own. Seeking objective truth can often be a difficult task, this is an area in which we all can improve.

It takes a good bit of angst to morph an article about gold price around Thanksgiving into a rant about someone else's way of life. Perhaps a little more cultural tolerance and understanding in this world would go a long way toward keeping on the ground planes bound for buildings.

A great rule for both investing and living life is to constantly and objectively ask yourself, What if I'm wrong?

Good day Sir.

Enjoy the Strong U.S. Dollar While You Can

Ussmls7, thank you for the 'jsmineset' reference, a great site filled with logical commentary.

Enjoy the Strong U.S. Dollar While You Can

So true. You know, we would all mostly agree with the statement that we "need a strong dollar". The talking yahoos all feed us the line that it is their intention to do just that. The problem...they run aground as soon as they are asked how?

A classic example was the interview of Steve Forbes by Michael Eisner a few days ago. Of course when asked about the dollar, Steve answered that we need to strengthen and stabilize our currency. When asked how?, his answer proved my point. His answer was in two parts. First, he said that we "tell everyone that it is strong". Second, he said that we need to "get all of our foreign friends to buy and prop up the dollar". Now, I am paraphrasing the quotes, but he did slip up and use the word "prop". When asked about gold, he of course said "it needs to go down"...cart or horse???

The point is that these views/comments are very typical of the main stream and indeed for the masses become "the trash collected by the eyes and dumped into the brain"....which is exactly where the system wants us just prior to cratering the dollar.

Anyone want in on my pirate island...

No Silver Lining for Precious Metal Bugs

Just remember...we only have an investable thesis so long as the clouds do not have a readily apparent 'silver lining' to a large number of participants. The more articles like this denying the inevitable long term consequences of our financial structure, the more comfortable I feel with my conclusions regarding this subject.

The government/system has the majority of our society right where they want us, believing that Federal Reserve Notes and Treasuries equal safety for wealth. Just as the majority of participants move into these asset classes, the system will inflate them into despair. Likewise, we have managed to make the notion of debt taboo, when in fact arranging low interest debt now might just be a most lucrative move going forward as it is paid off with severely inflated dollars. Interest rates skyrocket when inflation looms, take advantage over the next several months before the system figures this out. Government downward pressure on interest rates as 'stimulus' should help out this plan for a little while.

I for one will be most satisfied to convert real wealth into inflated dollars into a nice little pirate den on an island with no name. I hope to see you there...just not too many of you:)

Attention Gold Bugs: Hyperinflation or Deflation?

If you believe that the fiat currency will remain in effect going forward and therefore above average inflation due to ponzi perpetuation, then how smart is getting out of debt?

Nay, go in debt to your eyeballs (but not over your head) at low interest rates and push that payment out into the future where it will be payed off with inflated dollars.

Currency savers will be damned. Regarding credit mongers, as unfortunate as it is to say this...if you can't beat em', join em'... and use that 'good debt' to finance real things...gold, silver, sail boats, guitars, and yes that nice little house on the lake.

And if the whole thing craters, then you will have all that you need plus maybe that lender goes under and your loan evaporates (of course that will essentially happen with enough currency destruction regardless).

Cayman Island boy has a commendably similar plan. Expats and pirates will have the last laugh.