Great Depression 2 - Short trade of a Lifetime - preps start now

[deadbroke]

Original EliteTrader thread here .... deadbroke posts somewhere from the middle of the thread

Forums - Math For 12 Year Olds

 

[new_trader]

You're kind of sloooooow if you only realized all this a mere 6 months ago.

Dig this, Sir - posted October 2009 as a newbie trader at the toilet known as EliteTrader - that is, 2 years + ago.

And dig this, it was all my own work as is everything else I do, including losing money, all my own fault but I do win on occassion aprox. once every century.

http://www.google.com/url?sa=t&rct=...k9SeCg&usg=AFQjCNEV5nM8JN7YxcCjh0yFbd04uISBPw

I was responding to your assertion that nobody at T2W has figured it out

"Now there is more FA that nobody at T2W or Elite has uncovered"

As for preparing for this depression, I started years ago

 

[darktone]

You're joking aren't you? The majority of people in this forum are cretins that think paper is money and gold is just a commodity.

To be fair, money is a hard thing to define. Under our current (makes no sense unless your a bank) system, you cant use gold or silver to pay your tax's / buy food etc etc, so i can understand the view that gold 'isnt' money.

I think the biggest misconception in public land is that money is static in value! Which it certainly isnt!

 

[new_trader]

To be fair, money is a hard thing to define. Under our current (makes no sense unless your a bank) system, you cant use gold or silver to pay your tax's / buy food etc etc, so i can understand the view that gold 'isnt' money.

I think the biggest misconception in public land is that money is static in value! Which it certainly isnt!

Money isn't hard to define, it is legal tender laws that make it difficult to write contracts or enforce payments in gold and silver. If legal tender laws didn't exist I think more people would accept gold and silver instead of Government enforced paper.

However... the tide may be turning

http://finance.yahoo.com/news/states-consider-alternative-currencies-gold-100700922.html

 

[darktone]

Money isn't hard to define, it is legal tender laws that make it difficult to write contracts or enforce payments in gold and silver. If legal tender laws didn't exist I think more people would accept gold and silver instead of Government enforced paper.

However... the tide may be turning

States consider alternative currencies of gold and silver - Yahoo! Finance

I get what your saying,totally. Agree things are gonna have to change, think we should be careful what we wish though.
My idea of what money should be:
1) A means of exchange.
2) A store of value.
3) A unit of account.
Imo,currently, 'money' (legal tender) fails on 2 and gold etc fails on 1.
So according to my definition, I have no money. lol

 

[darktone]

interesting article btw

 

[new_trader]

I get what your saying,totally. Agree things are gonna have to change, think we should be careful what we wish though.
My idea of what money should be:
1) A means of exchange.
2) A store of value.
3) A unit of account.
Imo,currently, 'money' (legal tender) fails on 2 and gold etc fails on 1.
So according to my definition, I have no money. lol

Your definition would need to include

4) Widely accepted
5) Easily recognisable
6) Portable
7) Durable

Gold does NOT fail on 1, what gives you that idea?
Sanctions dodge: India to pay gold for Iran oil, China may follow
Sanctions dodge: India to pay gold for Iran oil, China may follow — RT

I would accept gold as a payment for something I was selling including my labour. The problem is I can't demand (force) people to pay me in gold by law.

 

[YouAreNotFree]

Gold backed credit cards exist.

It's a start.

 

[wackypete2]

Gold backed credit cards exist.

It's a start.

I have an American Express Gold Card

Peter

 

[darktone]

Your definition would need to include

4) Widely accepted
5) Easily recognisable
6) Portable
7) Durable

Gold does NOT fail on 1, what gives you that idea?
Sanctions dodge: India to pay gold for Iran oil, China may follow
Sanctions dodge: India to pay gold for Iran oil, China may follow — RT

I would accept gold as a payment for something I was selling including my labour. The problem is I can't demand (force) people to pay me in gold by law.

Sure, i guess i kinda take 4-7 as givens tbh.
I'd also glady accept gold / silver in payment. Unfortunately most dont share this view atm, even in a private situation. If you went to tescos (or pretty anywhere else) and slapped a 1/10 kruger down as payment, your gona be disappointed!
So i stand by my "Currently, gold fails on 1" statement, at least for the extreme most part.

 

[new_trader]

Sure, i guess i kinda take 4-7 as givens tbh.
I'd also glady accept gold / silver in payment. Unfortunately most dont share this view atm, even in a private situation. If you went to tescos (or pretty anywhere else) and slapped a 1/10 kruger down as payment, your gona be disappointed!
So i stand by my "Currently, gold fails on 1" statement, at least for the extreme most part.

That means it fails on point 4 and not point 1, mostly due to legal tender laws and deliberate public miseducation and Government propoganda.

 

[darktone]

That means it fails on point 4 and not point 1, mostly due to legal tender laws and deliberate public miseducation and Government propoganda.

I'd still say 1 tbh but each to his own.

 

[darktone]

Gold backed credit cards exist.

It's a start.

Really!? Learn something new every day.
Think rather have the physical tho.

 

[new_trader]

I'd still say 1 tbh but each to his own.

You can't argue with 2000+ years of history

 

[new_trader]

Gold backed credit cards exist.

It's a start.

It is a far cry from paying in specie. The $AUS is legal tender but it's unlikely to be accepted as payment in a UK Tesco, but if a tourist had a debit card linked to an Australian bank account in $AUS dollars it would be accepted. Just like my £UK Visa debit card is accepted around the world. The gold backed debit card is no different only the currency is gold.

 

[Splitlink]

You're joking aren't you? The majority of people in this forum are cretins that think paper is money and gold is just a commodity.

I'm half a cretin, then, because I believe that paper is money and, when the paper is burned, there is no money. That is what is happening with money, today. It is just paper. In fact, it is not even paper because the value of scrap paper is going up in value every year. Just in case you believe that today's money is worth nothing, it is not, quite. You can take your family out for a few meals and cinema for $1000. When I was bringing up my kids I could live on that for six months. Some difference, huh? My dad, though, was better off. He could feed, clothe and house his family of four on $1000 for nearly 3 years.

All we need are politicians. like Brown and Cameron, and it does not matter what party they belong to , is to say, "Hey! The economy needs money! Let's call it if Quantative Easing. The mugs won't have a clue that it means "Print Monopoly money. The old people who have saved and have it in the bank? **** them , another cold winter will finish most of them off, anyway".

Gold is different. Gold is a commodity that cost $20 per ounce when I was a kid. I can't be bothered to guess what it costs, now.

 

[new_trader]

I'm half a cretin, then, because I believe that paper is money and, when the paper is burned, there is no money. That is what is happening with money, today. It is just paper. In fact, it is not even paper because the value of scrap paper is going up in value every year. Just in case you believe that today's money is worth nothing, it is not, quite. You can take your family out for a few meals and cinema for $1000. When I was bringing up my kids I could live on that for six months. Some difference, huh? My dad, though, was better off. He could feed, clothe and house his family of four on $1000 for nearly 3 years.

All we need are politicians. like Brown and Cameron, and it does not matter what party they belong to , is to say, "Hey! The economy needs money! Let's call it if Quantative Easing. The mugs won't have a clue that it means "Print Monopoly money. The old people who have saved and have it in the bank? **** them , another cold winter will finish most of them off, anyway".

Gold is different. Gold is a commodity that cost $20 per ounce when I was a kid. I can't be bothered to guess what it costs, now.

"Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink."

- Ludwig Von Mises

 

[darktone]

You can't argue with 2000+ years of history

True depending on which parts you cherry pick i guess,tell ya what, ill take 1 and 4, just to be sure to be sure.

"Government is the only institution that can take a valuable commodity like paper, and make it worthless by applying ink."

Thats a cool quote from any side of the fence!

 

[China Diapers]

I have been sitting on a couple ounces of gold and a couple ounces more of silver for over three years now, fighting the urge to sell and use the proceeds to fund my trading account.

 

[darktone]

I'm half a cretin, then, because I believe that paper is money and, when the paper is burned, there is no money. That is what is happening with money, today. It is just paper. In fact, it is not even paper because the value of scrap paper is going up in value every year. Just in case you believe that today's money is worth nothing, it is not, quite. You can take your family out for a few meals and cinema for $1000. When I was bringing up my kids I could live on that for six months. Some difference, huh? My dad, though, was better off. He could feed, clothe and house his family of four on $1000 for nearly 3 years.

All we need are politicians. like Brown and Cameron, and it does not matter what party they belong to , is to say, "Hey! The economy needs money! Let's call it if Quantative Easing. The mugs won't have a clue that it means "Print Monopoly money. The old people who have saved and have it in the bank? **** them , another cold winter will finish most of them off, anyway".

Gold is different. Gold is a commodity that cost $20 per ounce when I was a kid. I can't be bothered to guess what it costs, now.

Its sobering when you think about it that way isnt it! and, to be honest, ive found some real depression in the subject. It forces you to challenge your view of how the world works. Which is then compounded when you try and tell friends and family about it. I felt like the guy who ruins the party..

Neways, gold is $1700+ now mate. I think over the next 5-10 years that'll look cheap!