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Author Topic: Gold Just Became Money Again  (Read 2714 times)

MamaLiberty

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Gold Just Became Money Again
« on: August 18, 2012, 01:41:48 pm »

Ok, whee... banks can use gold as "money." Just wondering what they plan to buy this gold with... all the fake paper they have now? How does that help anybody except the bankers? I'm wondering who in their right mind would sell their gold...

Big Changes Ahead: Gold Just Became Money Again
by Doug Hornig

On June 18, the Federal Reserve and FDIC circulated a letter to banks that proposes to harmonize US regulatory capital rules with Basel III.

BASEL III is an accord that tells a bank how much capital it must hold to safeguard its solvency and overall economic stability.

It's a global standard on bank capital adequacy, stress testing, and market liquidity risk.

Here's the important bit:

At the top of the proposed changes is the new list of "zero-percent risk weighted items," which now includes "gold bullion," right after "cash."

That's the part to take notice of.

If the proposals are approved by regulators and that seems likely since adoption of Basel III will be then this is a momentous change for the gold market.
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DiabloLoco

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Re: Gold Just Became Money Again
« Reply #1 on: August 18, 2012, 01:54:54 pm »

Yeah....So?   :laugh: :sign10: :laugh:

J/K :wub:



In actuality, gold is safer than dollars because dollars can be printed out of thin air. Gold can't. Gold will preserve wealth. Dollars just get more and more worthless. I'd say to wipe our butts with them, but that wouldn't be sanitary. Maybe kindling?
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MamaLiberty

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Re: Gold Just Became Money Again
« Reply #2 on: August 18, 2012, 03:08:19 pm »

In actuality, gold is safer than dollars because dollars can be printed out of thin air. Gold can't. Gold will preserve wealth. Dollars just get more and more worthless. I'd say to wipe our butts with them, but that wouldn't be sanitary. Maybe kindling?

Of course, but that's not the point of the article. They are saying that the mighty man behind the curtain is ready to "allow" the banks to use gold as money again. Aren't we lucky.

The question remains... if gold is money, who in hell would rationally sell their gold for butt wipe?
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DiabloLoco

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Re: Gold Just Became Money Again
« Reply #3 on: August 19, 2012, 07:55:27 am »

The question remains... if gold is money, who in hell would rationally sell their gold for butt wipe?
Nobody. But since gold is not legal tender in about 90% of the states, people would sell gold to convert into "butt wipe" to pay bills, and the ever-so-annoying "theft of the state", if you catch my drift.
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Mr. Dare

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Re: Gold Just Became Money Again
« Reply #4 on: August 19, 2012, 09:09:15 am »

I would prefer to trade directly in gold and silver. Sadly most people will only accept "butt wipes" so I convert if need be. I on the other hand will gladly accept the real deal, but it's tough to find someone who has it that is willing to pay with it.
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MamaLiberty

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Re: Gold Just Became Money Again
« Reply #5 on: August 19, 2012, 10:09:32 am »

I would prefer to trade directly in gold and silver. Sadly most people will only accept "butt wipes" so I convert if need be. I on the other hand will gladly accept the real deal, but it's tough to find someone who has it that is willing to pay with it.

I will gladly trade the paper for the goods I need for survival... as long as anyone is willing to take the paper, of course. I'll save my trade goods and limited metals for the day when the paper is no longer accepted anywhere. I'm buying, not selling...
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Mr. Dare

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Re: Gold Just Became Money Again
« Reply #6 on: August 19, 2012, 11:52:27 am »

Yeah, I agree. We had to sell some recently, but it was for a very good cause (getting our down payment together for our future gulch property). I would have preferred to use it directly, but the seller preferred cash, so there it was.
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DiabloLoco

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Re: Gold Just Became Money Again
« Reply #7 on: August 19, 2012, 06:34:58 pm »

I would prefer to trade directly in gold and silver. Sadly most people will only accept "butt wipes" so I convert if need be. I on the other hand will gladly accept the real deal, but it's tough to find someone who has it that is willing to pay with it.

 I'm buying, not selling...
Me too. I never sell. I sometimes trade equal amounts of silver with fellow coin collectors to help them build their collection, but they do the same for me.

ML- As for a comment that you made to me recently about not trading food or supplies for silver in a teotwawki situation, I whole heartedly agree. I wouldn't either. I am holding my silver reserves and buying more whenever I can to use for money in a rebuilding phase. For after the smoke clears and people begin to climb out of their holes, (so to speak) and begin to rebuild society. Hopefully for the better!
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Bear

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Re: Gold Just Became Money Again
« Reply #8 on: August 21, 2012, 12:17:42 am »

I've always seen gold and silver as long term savings. I buy when I can, and sell
when I must. In the past year and a half I haven't been buying any bullion because
I've been turning my cash into property improvements and completing my gear.

I think after I get my ham antennas done and latest shop building remodel completed,
I'll be buying silver.

Bear
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Rarick

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Re: Gold Just Became Money Again
« Reply #9 on: August 21, 2012, 05:41:27 am »

That is what I have been doing, building tools and capability as a priority.  Silver gets bought as part of the retirement savings.
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hangman

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Re: Gold Just Became Money Again
« Reply #10 on: August 21, 2012, 08:11:17 pm »

TPTB had their MSM tool warning about buying gold. What crap. But, she helps the Empire with their propaganda.

Nancy Grace Points the Way to Gold Confiscation?
http://www.thedailybell.com/4196/Anthony-Wile-Nancy-Grace-Points-the-Way-to-Gold-Confiscation

We received a YouTube video address from a friend of the Daily Bell, and the power elite meme  popped right out.

At the end of this article, I'll provide a video address, so you can see for yourself how Nancy Grace positions this particular analysis of "justice."

We've written in the past about how gold and silver confiscation might take place if the price becomes intolerably high from the point of view of the power elites that want to remain in control of central banking and fiat money.

The chances are slim but the possibility remains. When we hear outrageous rhetoric like this, I think we should point it out.

Nancy Grace is generally worth commenting on once in a while because she is a prime purveyor of the system as it is. Like CNN itself (where she is based), Nancy Grace perceives a system that supports her commentary rather than one needing a corrective./SNIP

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MamaLiberty

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Re: Gold Just Became Money Again
« Reply #11 on: August 22, 2012, 07:03:37 am »

Nancy Grace Points the Way to Gold Confiscation?

I suspect that attempts to confiscate gold and silver would be met by the same sort of response as attempted gun confiscation, and by pretty much the same people. No, I don't think that's going to fly.
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hangman

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Re: Gold Just Became Money Again
« Reply #12 on: August 22, 2012, 12:47:42 pm »

She was carping on and denigrating those who buy gold. A sub-title:Nancy Grace: buyers of gold/silver bullion are insane, lonely, rich, violent

I'm certainly not any of those.
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Live Free Or Die: Death is not the worst of evils.

"Resist much, obey little." ~ Walt Whitman

If guns are outlawed, only the government will have guns. Only the police, the secret police, the military, the hired servants of our rulers. Only the government and a few outlaws. I intend to be among the outlaws. EDWARD ABBEY

MamaLiberty

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Re: Gold Just Became Money Again
« Reply #13 on: August 22, 2012, 01:27:30 pm »

She was carping on and denigrating those who buy gold. A sub-title:Nancy Grace: buyers of gold/silver bullion are insane, lonely, rich, violent

I'm certainly not any of those.

Don't remember asking for her opinion to start with.  :ph34r:  Who the hell cares what she thinks? :)
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DiabloLoco

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Re: Gold Just Became Money Again
« Reply #14 on: August 22, 2012, 05:11:37 pm »

Nancy Grace Points the Way to Gold Confiscation?

I suspect that attempts to confiscate gold and silver would be met by the same sort of response as attempted gun confiscation, and by pretty much the same people. No, I don't think that's going to fly.
Damn Skippy!

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Who the hell cares what she thinks?

She does. And so do her flock.

She's the "mouth-piece" of TPTB. She, and her bosses, and the network owners have been bought and paid for. She's just a "dummy" that just sits there on a shelf looking worthless, until somebody "pulls her strings" and makes her do the little dance and sing the little song.
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