PCR: Gold & the Dollar - A Fight to the Death?

[Polish_Silver]

Not Me!

In the old days, eight years ago when the site became a forum, all topics other than economics were not permitted, politics and religion in particular, for reasons demonstrated in this thread.


If I appeared regularly on Prison Planet as PRC does how many members will begin to question my judgement and cancel their subscriptions?

All of them, I hope.

I would not cancel because of the platform EJ uses. Only because what he says is wrong.

Judging a person by their surroundings is imputing guilt by association.

I do recognize we have limited time, so making judgements based on circumstances, rather than content,
may be necessary.

Since EJ has appeared on Financial Sense, he must think it is a cut above King world news.

[Forrest]

Re: Not Me!

Economics is the underlying interest we all share here at iTulip. It is true, however, that Politics effects Economics, just as the moral effect and actions of various Religions does effect Politics, and in the end, Economics.

These things are necessarily related, but should be used on this site primarily as commentary on the Economic basis of our discussion, and not argued in and of themselves to specifically discuss what is going on in Religion and Politics.

For instance, how Islamic law affects commercial transactions worldwide is valuable knowledge, while discussion whether Islam is in itself right or wrong as a religion is merely off-topic in most cases. Same thing with Politics. I do not want to discuss the ins and outs of left versus right, conservative versus liberal, etc, unless these things are specifically bearing on the topic at hand that is economic in nature.

However, if politics or religion are having an effect on the economic topic, I want those factors allowed in the discussion. We probably all do. We just do not wish to discuss religion or politics as the main frame of any thread.

As for PCR, or any other commentator, if that person is generally thought to be a loon on iTulip, to the point that E.J. is requesting a boycott of such a person, surely we can find some other commentator with more validity.

[ProdigyofZen]

Re: PCR: Gold & the Dollar - A Fight to the Death?

The only things worth talking about are religion and politics b/c they are the only things which matter in the long run. If we can't discuss these, how can we begin to formulate and maintain a just society?

I don't think EJ meant in his writing above for us "not" to talk about religion and politics but that we as insignificant pawns on the chessboard, can do virtually nothing to change the status quo or where they may be leading the economy.

As much as we would like to think in our minds that our representative democracy works perfectly it doesn't and for most people this frightens them.

Creating an illusory in your mind of some sort of control of the political process is a way for the mind to deal with the fear of not having control.

What would Aristotle do?

[lektrode]

Re: PCR: Gold & the Dollar - A Fight to the Death?

....Political arguments do not help us put our heads together to answer a question: what's going to happen and how can we prepare ourselves and those we love?

We're not in the "what we want to happen!" business here.

We're in the "what's going to happen?"....

The way I see it I work for you guys.

Respect this institution, please, that we have built together.

+1

Economics is the underlying interest we all share here at iTulip.....
.....
I do not want to discuss the ins and outs of left versus right, conservative versus liberal, etc, unless these things are specifically bearing on the topic at hand that is economic in nature.

......

As for PCR, or any other commentator, if that person is generally thought to be a loon on iTulip, to the point that E.J. is requesting a boycott of such a person, surely we can find some other commentator with more validity.

+2

...that we as insignificant pawns on the chessboard, can do virtually nothing to change
the status quo or where they may be leading the economy. .....
....
What would Aristotle do?

perhaps - but at least he/they didnt have to contend with the 'federal' reserve, or the giving-away of the treasury to buy a few more votes to keep themselves in office, while selling-out The Rest of US

[Slimprofits]

Re: Not Me!

Economics is the underlying interest we all share here at iTulip.

Economics or investing (and around election time I like to throw in ol' fashion wagering)?

[EJ]

Re: PCR: Gold & the Dollar - A Fight to the Death?

The problem with this reasoning is that it implies that we are helpless and can merely prepare and position ourselves for the inevitable vs actively trying to effect the outcome via dialog and action. Nonetheless it's your site and I will respect your rules.

The only things worth talking about are religion and politics b/c they are the only things which matter in the long run. If we can't discuss these, how can we begin to formulate and maintain a just society?

Else we are merely pawns of the economic powers, helpless to effect change, and I suspect that self-congratulations for having survived relatively unscrathed as Rome burns b/c I was smart enough to foresee and plan for it and now I watch my fellows go down with the ship will ring hollow and bittersweet.

Perhaps BJ was right.

Doing our part to improve our community, our country and our world is a responsibility of each of us individually as citizens but political action is not our mission here. It is outside the scope of this site. If we attempt to take on that mission we will fail at the core mission, guaranteed.

On a philosophical note, our first responsibility is to take care of ourselves for if we do not the then the consequence of our failure is unfairly left to others.

[oboy]

Re: PCR: Gold & the Dollar - A Fight to the Death?

+1

[EJ]

Re: Not Me!

Economics is the underlying interest we all share here at iTulip. It is true, however, that Politics effects Economics, just as the moral effect and actions of various Religions does effect Politics, and in the end, Economics.

These things are necessarily related, but should be used on this site primarily as commentary on the Economic basis of our discussion, and not argued in and of themselves to specifically discuss what is going on in Religion and Politics.

For instance, how Islamic law affects commercial transactions worldwide is valuable knowledge, while discussion whether Islam is in itself right or wrong as a religion is merely off-topic in most cases. Same thing with Politics. I do not want to discuss the ins and outs of left versus right, conservative versus liberal, etc, unless these things are specifically bearing on the topic at hand that is economic in nature.

However, if politics or religion are having an effect on the economic topic, I want those factors allowed in the discussion. We probably all do. We just do not wish to discuss religion or politics as the main frame of any thread.

As for PCR, or any other commentator, if that person is generally thought to be a loon on iTulip, to the point that E.J. is requesting a boycott of such a person, surely we can find some other commentator with more validity.

At issue is not whether any commentator is a loon or not, but that there are so many remarkable, brilliant minds that get little air time because they are not compelled to get the attention of the media, are not charismatic or entertaining, are not clever presenters, but have incredible insights that are valuable and may be pivotal to taking our understanding to the next level.

[swgprop]

Re: Not Me!

At issue is not whether any commentator is a loon or not, but that there are so many remarkable, brilliant minds that get little air time because they are not compelled to get the attention of the media, are not charismatic or entertaining, are not clever presenters, but have incredible insights that are valuable and may be pivotal to taking our understanding to the next level.

Thus our willingness to pay subscription fees to iTulip Eric.

[Polish_Silver]

Itulip's goals

Doing our part to improve our community, our country and our world is a responsibility of each of us individually as citizens but political action is not our mission here. It is outside the scope of this site. If we attempt to take on that mission we will fail at the core mission, guaranteed.

On a philosophical note, our first responsibility is to take care of ourselves for if we do not the then the consequence of our failure is unfairly left to others.

I think one of the goals of I-tulip should be learning about what is wrong and what could be improved.

This is not "political", in the sense of advancing a particular law or person.

It is almost meaningless to criticize something without offering an alternative. Why interview Bill Black if not to understand what is wrong and what could be done better?


Why rant about regulatory capture unless there is a solution?

[jk]

Re: Itulip's goals

Why rant about regulatory capture unless there is a solution?

because it helps you make better predictions about future actions by both the regulators and the regulated.

[Polish_Silver]

What should be banned!

In the old days, eight years ago when the site became a forum, all topics other than economics were not permitted, politics and religion in particular, for reasons demonstrated in this thread.

I do not think topics or commentators should be banned.

What should be banned are ad hominem attacks against other members of the community.

OK: attack the information or reasoning in a post.

NOT ok: to call the poster ignorant, arrogant, etc.

[todddusanj]

Re: PCR: Gold & the Dollar - A Fight to the Death?

EJ, would you be able to share some of these other people you read?

Thanks Todd.

[don]

Re: PCR: Gold & the Dollar - A Fight to the Death?

Jesse's got his knickers in a twist . . .

15 MAY 2014

High Tide for the Dollar: Revenge of the Sith

I have certainly considered this scenario many times, and it remain one possible outcome. There is an intense international discussion going on about the future of the international currency system, and relations in general. I have referred to this generally as the 'currency wars' for some time.

Most Americans have yet to notice this, due in no small part to the silence of the mainstream media, and the fact that less than half of Americans even own a passport, and even fewer have used them except for day trips to Mexico and Canada.

If the US and the BRICs cannot engage in a rapprochement over the future of the international monetary system, and keep pushing a hard line on the US dollar hegemony, then of course the BRICs may pursue those discussions by other means.

One way to do this would be to revalue gold at let's say $10,000 per ounce, and use it to partially back their own currency, or currencies. Bill Holter does a good job of outlining that in the article excerpted below.

The counter to this is force, which the US has been employing much more aggressively and pre-emptively of late than it otherwise has done in the post-Cold War era.

I had assigned this outcome a low probability, thinking that the US and its allies, Britain, Japan, and parts of the EU, would continue supporting each other's currencies through non-transparent swaps and buying, in a managed devaluation of course. But I thought they would at least open the door to allowing the SDR to be reconstituted with a broader basket of currencies and metals not under NATO control.

The events of late in Ukraine, coming on the heels of the phony wars with Syria and Iran, make me wonder if the negotiations have not broken down because the hard liners in the Anglo-American cartel have not held the day. When the coup d'état occurred, with the US involvement becoming known, I had one of those 'WTF' moments many of us had when the US made a hard right turn and attacked Iraq. Wow, where did that come from?

Certainly it must be obvious that the neo-cons are back in force, although the neo-liberal economists in the Obama cabinet are certainly capable of carrying the financial side of that American Century outlook.

This is not to say that Russia and China are in the right, or are 'good.' They have positions and the Anglo-American have positions. One can certainly debate the relative merits, but for my own case I wish to try and understand what is happening, so that we may best prepare.

So grab something solid and hang on. I don't know enough to be able to predict how this will turn out, and anyone who might realizes that the fog of war is descending quickly. Predictions are cheap, and will become plentiful as hysteria may spread. But knowledge is the coin of the realm.

There could be rough waters ahead, mateys. But one can always hope that cooler and wiser and stronger heads will prevail. This will play out slowly, until something happens, and then events may being to move rather quickly. Pray for the best, and prepare for the worst.

"Next Tuesday, Vladimir Putin will meet with Chinese President Xi Jinping, I believe that the odds are quite high that an energy deal will be announced where Russia will supply China with oil and gas and that infrastructure (pipelines) will also be built to the express exclusion of the dollar. Please understand that this is not a deal where a few million barrels of oil are sent and then get settled for, no, this will be a very long term partnership which is why the infrastructure will be built.

My intent was to explain that China has imported 1,000′s of tons of gold over the last several years and that they (even though their system is very highly leveraged just as ours) have prepared themselves for what is coming. 'What is coming' is that China will have just as many massive defaults as the U.S. will …but with a “small difference.” I believe that China will mark gold up to an arbitrary number of let’s say $10,000 per ounce which will do a number of things. First, this will make China’s holdings worth much much more which can and will be used as collateral to steady their debt markets. This collateral will serve to re liquefy the banks AND back their currency should they wish to (I believe they do).

Another added 'benefit' is that this will expose the fact that the West no longer has any gold. The dollar will go into a spiral because not just 'one lunatic' like Saddam Hussein is proposing to no longer use dollars. No, we are talking about 2 major oil producers and our largest trading partner who may just be the largest economy in the world having eclipsed us. Another little tidbit is that these 3 taken together were for years the absolute arch enemy of the U.S. and now they are forming a unified triad where Russia and Iran can say, 'Hey, you told us not to use dollars anymore, we’re just doing what you’ve told us to do.' Talk about forming 'policy' without looking 5 seconds into the future, our sanctions would be the definition of this."

Bill Holter, They Don't Need Us, We Need Them

Read the entire article here.

[thriftyandboringinohio]

Re: PCR: Gold & the Dollar - A Fight to the Death?

That's pretty good doomer porn; thanks for bringing us the good stuff, Don.

If China offers to buy my physical gold at $10,000 an ounce I will sell it all to them.