World Economy - Worst Since 1700s

[lsa420]

I just finished reading the book Fiat Money Inflation in France. I highly recommend it.

This article covers a different period, a few decades before the hyperinflation that led to the Revolutionary War.

http://www.theglobeandmail.com/repor...rticle1448623/

[Jay]

Re: World Economy - Worst Since 1700s

I just finished reading the book Fiat Money Inflation in France. I highly recommend it.

I've read it and it is one of my favorite reads. I think everyone here who hasn't read it should. It is not overly long, and the parallels to today are shocking and creepy. You will buy more gold after you read it and you won't tell a soul where it is or even that you bought.

It brings cash for clunkers home.

[lsa420]

Re: World Economy - Worst Since 1700s

I've read it and it is one of my favorite reads. I think everyone here who hasn't read it should. It is not overly long, and the parallels to today are shocking and creepy. You will buy more gold after you read it and you won't tell a soul where it is or even that you bought.

It brings cash for clunkers home.

It really is remarkable, the parallels. Shocking and creepy are right on.

P.S. I just bought more silver.

[LargoWinch]

Re: World Economy - Worst Since 1700s

It really is remarkable, the parallels. Shocking and creepy are right on.

P.S. I just bought more silver.

Were they using Oil to feed horses in 1700s?

Perhaps you should also buy some instead of gold. ;)

[flintlock]

Re: World Economy - Worst Since 1700s

Were they using Oil to feed horses in 1700s?

Perhaps you should also buy some instead of gold. ;)

That's the way I see it also.

[flintlock]

Re: World Economy - Worst Since 1700s

Were they using Oil to feed horses in 1700s?

Perhaps you should also buy some instead of gold. ;)

That's the way I see it also. Black Gold.

[jpatter666]

Re: World Economy - Worst Since 1700s

It really is remarkable, the parallels. Shocking and creepy are right on.

P.S. I just bought more silver.

Also gets a major treatment in Fergusson's "The History of Money"

[hayekvindicated]

Re: World Economy - Worst Since 1700s

That's the way I see it also. Black Gold.

Easier to buy and hoard gold than oil. if you are a retail investor, the only way to play oil is by buying oil stocks. the key thing is that a stock is still a stock - and stocks have a nasty habit of going to zero. The futures plays are of limited value in contango.

if you really think oil will go to the moon and you have money like a hedge fund, you rent some storage facilities in a country where the oil won't be confiscated and you buy oil spot when the price gets knocked down (I wouldn't say $72 a barrel is such a price). You cannot do that if you are a retail investor.

another point: central banks will never hoard oil as a reserve currency. but they will do that with gold (as China and India have been doing).

Both oil and gold have their own place in a portfolio. Holding both is necessary for their own reasons.