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Additional resources for earning interest in gold

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Why earn interest on gold and silver? If you’re short on time or simply prefer to watch instead
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9 responses to “They’re Coming to Take Away Your Cash”

  1. Keith,

    Taken to the extreme, sans a rebellion, shouldn’t this provide strong support to physical gold and silver pricing as this may be one of the only ways to hold currency in physical form?

    Mark

  2. Honest people take back the power to be free by “pushing back” against power. Sadly that alerts them that you are “a problem” but then you inform your friends, neighbors, and fellow citizens what you have experienced. The bank does not want you to have the freedom to repay their loan. They would prefer a sure thing. The government does not want you to have the power to decide what you will or will not do. They would prefer that you do all they ask. Swiping a card and walking out of a store with merchandise is kind of cool but you have been granted permission to buy. The authorities are moving toward a greater degree of control by making the power to create money more important than the possession of money. In the story of Aladdin’s lamp it is not the gold and jewels that are important it is the power of the genie to make more of them.

  3. Thanks for the good comments.

    miamonaco: Taken to the extreme, this is the death of paper currency. Then the price of gold will go to infinity*.

    Schand and modom46: Right now, I hope people begin arguing against the existence and legitimacy of central banks. Not against too much quantity. Not for “prudent” monetary policy. Not against “corruption”, violations of Glass-Steagall or Volcker Rule, but against central banking. The root of the problem is central banking and legal tender laws.

    There has to be a movement of people who are not merely saying we want the Fed to be more conservative. We have to say we want freedom, and individual rights, including the freedom to contract and the right of property when it comes to money. We are against central planning and their bloody central plans–and look what a mess monetary planning has made. An irredeemable mess!

  4. Trying to control gold worldwide would be impossible. Getting all the government to agree would be like herding cats and they can’t stop a black market. .

    I lived in Burma for a while. The official controlled exchange rate through the banks at the time was about 5 Kyat to the dollar but the black market rate was at times well over 400 Kyat to the dollar. They would round up and arrest the money changers every so often but with such a difference, the military dictatorship couldn’t control it, even with their harsh penalties. When they finally let go and floated the rate in 2012, the Kyat went to well over 800 Kyat to the dollar.

  5. The crime of banks is, (if I learned my lessons well enough from you, Keith), is duration mismatch. The banks borrowing short term cash from depositors to buy longer termed bonds (or other illiquid financial assets).

    The answer to Shand’s question I would think to be that a) do not bank at a commercial (for profit) bank, (use a credit union), b) keep only enough money in your accounts, (at the CU), to meet your very short term needs, and shelter the rest of it in other assets of durable value with known exchange rates that will be desirable regardless of whatever else is going on in the world. Gold? Sure, and silver. And maybe Palladium, Platinum and if you’re feeling esoteric Rhodium, (though the latter may not be as easily salable in times of duress).

    The best way to fight against central banks is to not let your money, (currency) a) travel through them and b) most certainly not reside in them. The only way to destroy them is to take away their liquidity. Take your ball and go home, as it were. When enough of us do that, their game will be over. Also, push your Congress-person to reinstate Glass-Steagall. Separate Main Street from Wall Street once more. Main Street has suffered enough from this already. Let’s make it stop. Not doing so just makes us all nothing more than Wall Street banks’ enablers.

  6. You state that the bail-in is not theft while simultaneously stating: “Thus the bail-in was devised to protect banks, though it violates law developed over centuries.” First, no problem in understanding the original fraud was committed by Greece in borrowing funds it had no intention of repaying. However, if bail-ins violate law developed over centuries, then there’s a second theft occurring: The theft of depositor’s right to be 1st in line ahead of other creditors to the bank in bankruptcy. Just because corrupt laws say it is so doesn’t make it morally so, nor any less of a theft of property rights.

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