Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Gold fever!
#67
Back to the Klamath on the 9th of May.
Going to look at a camp trailer tonight.

Don't think this would work on the Klamath, but it looks like a good idea on small gold bearing creeks.

http://www.youtube.com/watch?v=GLyL5fTbnes

I'd use a clear hose and run it to a sluice box.
Couldn't find a cheaper way to get into gold dredging!
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#68
Gold took quite a jump today to $1525.80 per oz as I write this.

Gold dredges are very expensive pieces of Machinery, ranging between $3000.00 to $16,000,00 for the ones that pump air to the divers, but as in the link in the above post, that guy (or someone) came up with an ingenious method to process streambed material the same way a suction dredge does, minus the cost of the dredge, and cost of gas!
$55.00 for a single piece of pipe in creeks shallow enough to work in hip boots, or snorkle in.
Something to keep in mind if the US dollar actually tanks. Gold, will always stand in for cash!

BTW, That boulder he lifted was twenty tons max. Probably a lot less.

Keith,
That method looks like it would work in the little creek you posted pictures of when you were sluicing?
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#69
$2,000 an oz maybe just around the corner.

Gold stood at just over $1,560.00 per oz just moments ago.

And a pocket full of twenty dollar bills may not pay rent on Pacific Ave. in the near future.
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#70
(04-29-2011, 04:59 PM)Fsbirdhouse link Wrote:$2,000 an oz maybe just around the corner.

Gold stood at just over $1,560.00 per oz just moments ago.

And a pocket full of twenty dollar bills may not pay rent on Pacific Ave. in the near future.

So, what are peoples predictions for when it will hit $2k and how long will it continue upward? I know one thing, I wouldnt mind taking a trip up to one of the gold baring areas of my state. All I would need is to find a few ounces and I pay off all my college debt.
Quote:No mountain is too tall if your first step is belief. -Anonymous
...Because even if there were no artifacts anywhere, not studying things of interest is an extreme disservice to science. -Tarius
Reply
#71
There is some talk of the Gov. doing what FDR did and making it illegal to own gold. But I think it's well past that point now.
As gov. currency fails around the world (Possibility) gold will still buy goods and services and may come to be the only acceptable medium. No matter what happens to paper money, gold and silver are coming back into the spotlight.
You're right about paying off debts now if you have the metal, but you'll have to find it yourself, it's too expensive for most of us to buy it!
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#72
http://www.youtube.com/watch?v=W4hfdaC7eL4
e trade baby loses everything

Never invite a Yoda to a frog leg dinner.
Go ahead invite Yoda to a Frog leg dinner
Reply
#73
Hei ! FSBIRD

Heres underwater equipment for you !

http://www.aquastarscooters.com/products/


[Image: aquastarusac.jpg]
Reply
#74
Yup!
Looks like the skinny version of me riding it too!
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#75
Talked to The New 49ers office yesterday, and the Klamath is raging above run-off levels.
Of all years for this to happen. On a normal year, it would already be starting to drop a little.
I may have to postpone my departure for a few weeks.
Found a camp trailer, leaving in about an hour to bring it home.
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#76
http://www.bloomberg.com/news/2011-04-29...rally.html
Central banks that were net sellers of gold a decade ago are buying the precious metal to reduce their reliance on the dollar as a reserve currency, signaling demand that may extend a record rally in prices.

As developing countries accelerate purchases, gold may reach $2,000 an ounce this year, compared with a record of $1,569.80 today in New York, said Robert McEwen, the chief executive officer of producer U.S. Gold Corp. Euro Pacific Capital’s Michael Pento, who correctly predicted gold’s highs for the past two years, forecasts a 2011 high of $1,600.

Prices reached a record 15 times this month on demand from investors seeking an alternative to the dollar after the currency slumped to the lowest since 2009, U.S. debt widened, and the Federal Reserve signaled April 27 that borrowing costs will remain near zero percent for an extended period. The economy in China, the biggest foreign holder of U.S. Treasuries, grew 9.7 percent in the first quarter.

“China is out to have more gold than America, and Russia is aspiring to the same,” McEwen said yesterday in an interview at a Bloomberg Link conference in New York. “When you have debt, you don’t have a lot of flexibility. China wants to show its currency has more backing than the U.S.”
Never invite a Yoda to a frog leg dinner.
Go ahead invite Yoda to a Frog leg dinner
Reply
#77
by the way, if you're holding silver futures, sell em.

Keep actual bullion or metal in any form, but if it's paper silver (especially) or gold, sell it.

The reason for this is simple, ~8 months ago silver was $14/oz, now it's around 50.

Silver, even more than gold, has jumped the shark and a sharp pull back is due if it hasn't happened since I checked friday morning.

I expect silver to drop from around 50/oz to ~20-25/oz and that drop will be fast, less than a week.

Then with the fundamentals in place as we've all seen the last couple years it will start it's rise again.

It's a good time to pocket profits and reinvest in a couple weeks. The main trigger for this event was Bernanke's speech, it is not a random happening i'm predicting.

My opinion, silver should be around 35-40 an oz right now, it will correct to that. First by over correcting down, then rising back up in short order.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#78
A true "qualifier" event has taken place on the price of silver.

http://www.informationliberation.com/?id=35132

essentially silver dropped $5 an oz instantly due to some "rule change".

I lack better information and the timing is highly suspect. It could be a trigger for a larger sell off or it could be a direct market manipulation to prevent such a thing. Those work as well but only for a time and the sell off is always larger.

[Image: silverdrops5bucks5minutes.gif]
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#79
By the way if it was my money in a silver stock or futures contract i'd be on the phone with my broker selling at $43 and pocketing my profits for now.

I would not personally wager either way that an adjustment of $8-11 down is still to come, kinda like how housing still has to drop another 15-20% nationally! LOL

It should fundamentally happen but it might not, today the paper version of both silver and gold are badly over bought but the actual metal and ability to deliver is untested, especially for silver.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#80
Wow, looks like your prediction is correct.
Quote:No mountain is too tall if your first step is belief. -Anonymous
...Because even if there were no artifacts anywhere, not studying things of interest is an extreme disservice to science. -Tarius
Reply
#81
As of this morning, silver has dropped $0.49 per oz, but gold continues its inexorable climb upwards, and now stands at
$1,572.90 per oz and seems certain to breach $1,600.00 in the not too distant future.
Good news for those who hold it, bad news for those of us who don't.
Just recently the state of Idaho banned the use of suction dredges, I wonder if this isn't  based on the fear of the coming gold rush that will surely happen this Spring with the rapidly rising price of gold?
I don't think it's just based on environmental factors alone tho.
Fish and Game, BLM, and Forest Service people better watch out if the economy tanks, people will dig for gold to feed their families if there's no work, and Gov agencies aren't gonna tell them they can't!
In the great depression of the 30's, in Southern Oregon, and many areas of N. California men were able to wrest up to an oz of gold out of the surrounding mountains in a month at $35.00 per oz. That was better money than many could make at a job....., when they could find work!
I'd hate to be a game warden in a depression when folks had to poach deer, Elk, and net fish to feed their families, and enforce a no gold dredging ban when they are doing so just to stay alive.
Who do you think would be more motivated?

This is what they did in the thirties, in Oregon.
http://kdrv.com/oregon_trails/201301
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#82
silver got hammered, down 12% at one point today to ~$42.

It has recovered about half.

The market for silver is very convoluted right now and it's a lot more important market than the gold market.

Gold is investment money, in the absence of our current fiat reserve system it's gold you'll use to pay for tankers of goods shipped internationally.

Silver is everyday money, that's what you'd use to buy bread in a store, sure wouldn't be gold.

It is a market that started it's rise very late, with gold well over 1000 silver was still under 20 an oz.

this is significant because the traditional price ratio of the two, as currency i grant, is about 16 to 1, we are way beyond that now.

It will correct to that, eventually, no matter what market forces are causing it to rise and fall on a daily basis the trend is to correct to the mean.

There is an insane amount of money to be made on calling silver correctly, if you understand and can call that market. I do not see a similar opportunity in gold.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#83
I think you're right Morbius.
I couldn't pinch a speck of gold small enough to buy a loaf of bread.
Although there are such things as native silver nuggets, you are more likely to find a silver dime or quarter with a metal detector in a school yard, and many people used to, but even that is getting a lot harder!
If you have a little money squirreled away, silver (The metal, not stocks or futures), is a good investment right now, because it will adjust in value very soon.
I've put my money (Very little really) in gold mining equipment, and there is no limit but effort, that such an investment can produce.

The profit takers are really after it today.
Gold has dropped down to $1,545.10. Almost $28.00 per oz.
Tomorrow it will start it's long climb again.
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#84
Here's what I've seen. I am not sure I am right but this is my best current supposition.

It looks to me like the "correction" to silver I called Friday was deliberately set off on Sunday in order to keep it a controlled and minimal correction.

As you said the profit taking has definitely set in but I don't see blood in the water, not in gold and not in this chart:

[Image: silver.gif]

I am not a believer in "technical support levels". I am a believer in the forgotten science of praxeology, I believe ultimately all values are subjective. Still I have had it quoted that "there is some technical support at $40 an ounce, but true support for silver does not start until the low $30s", we never came close to testing either.

Gold is nowhere near testing a technical limit however there is massive profit-taking and volatility in the spot market price:

[Image: gold.gif]

Images courtesy of: http://www.kitco.com/charts/

Edit:
It is important to realize that concentrating on silver is not completely illogical at the moment. Gold is the most recognized safe haven of wealth, not an investment vehicle to make money on.

One does not get rich investing in gold (bullion), try it and you'll lose your shirt, it goes up in dollar value as the currency depreciates.

Silver is different, world supply of gold is around 120M ounces, for silver its around 820M ounces. this is a massive difference in the market size.

The way silver is valued, the disparity with gold combined with ignorance and market size make it rife for profiteering now. Conditions are better than they were when the Hunt brothers (once the richest men in the USA) got wiped out trying to corner the market in iirc the late 70s-80ish.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#85
Richard Russell: ‘Great Gold Tsunami’ Still Ahead
Tuesday, 03 May 2011 08:24 AM

By Greg Brown


Read more: Richard Russell: ‘Great Gold Tsunami’ Still Ahead

Richard Russell, the longtime newsletter writer and author since 1958 of The Dow Theory Letters, sees an inevitable “panic” into gold that will push the precious metal much, much higher.

"If the temperature of full gold fever is a hot 106, we're only at 99 now, but I can feel it, I can tell you that the temperature is rising, rising,” he writes in a recent issue of his letter, cited by SeekingAlpha.com.

"The panic to buy gold will override everything else. It will be one of the greatest financial phenomena that most of today's investors will ever see. It will blot out everything else like a cloud blotting out the sun . . . After the calm, comes the storm. We've been watching 10 years of gold climbing amid an atmosphere of calm. The great gold tsunami lies ahead. It will be historic.”


Gold price keeps rising.
(AP file photo)
Gold for May delivery hit $1,573.10 per ounce on the Comex exchange, reports Dow Jones Newswires. The climb has largely been built expectations of a much weaker dollar and the potential for a U.S debt default and potential hyperinflation.

The U.S. Dollar Index future is trading at 72.89, down sharply from its 52-week high of 88.71. The record low for the buck on the index was 71, back in June 2008, as commodities soared and U.S. stocks were just beginning their recent historic plunge in value.

"If the dollar continues to weaken, then it's only likely to boost gold as well as silver as the inverse relationship between the two assets persists," Ong Yi Ling, investment analyst at Phillip Futures in Singapore, told the BBC. "I would say that for gold I am still looking for it to hit $1,600 this year."

http://www.moneynews.com/StreetTalk/Rich...ode=C319-1
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#86
hmmm...
you know, if the price of gold gets sky higher, and this scenario happens... what's to stop the price from suddenly dropping and costing all those that bought into it all their money?

Seems the banksters have a habit of manipulating the market like that
On a satellite I ride. Nothing down below can hide.
Reply
#87
And that's why we finds our own.........Precious!

Man I'm glad I'm retired with pensions and Social security and don't 'HAVE' to find it.
"IF" I find it, and that's always a very big 'IF' when diggin for treasure, it's all going to pay off debt first (What little I still have), and then I think I will use some of it to buy silver in coins of know silver content such as Mercury dimes, Liberty quarters and such.
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#88
(05-03-2011, 05:40 PM)Keith link Wrote:hmmm...
you know, if the price of gold gets sky higher, and this scenario happens... what's to stop the price from suddenly dropping and costing all those that bought into it all their money?

Seems the banksters have a habit of manipulating the market like that

There is no way to fix the price of gold from the banker's perspective, that's why they hate it so much.

In a scenario like the late 70s the price of gold was brought down by raising interest rates and strengthening the currency. That won't happen this time.

The hardest part to wrap the mind around is that at this stage gold has not gone up in value, the dollar has gone down.

There will come a panic driven parabolic move on gold bullion but unfortunately I don't think the dollar will survive it.

If the dollar does survive it you are correct, the price of gold would come back down, lets' say it goes to 5000/oz, it would eventually come back down, let's say to 3500/oz.

Then yes those who bought in over 3500 would lose money, and of course "paper profits" would be wiped out. This happened in the early 80s when gold was over 450/oz and came back down, again that can't happen now. We don't have a Paul Volker to raise rates and we have so much treasury debt that such a move would bankrupt the USA anyway.

That is a very brief outlay of why I refereed to gold bullion earlier as a "store of value" but not an investment. Think of it this way, if you want to lock in profits do it by selling whatever asset and buying gold, but at that point those profits stop growing.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#89
How high do you see gold continuing to rse and to what price?
Quote:No mountain is too tall if your first step is belief. -Anonymous
...Because even if there were no artifacts anywhere, not studying things of interest is an extreme disservice to science. -Tarius
Reply
#90
without another change around $2000/oz.

That's later this summer, after QE2 is done, but it won't stop there.

Like mad scientists they'll keep trying things to "stimulate" economic growth. I find it amazing that insane, unprecedented levels of growth and expansion are what our leaders think is normal. Healthy sustainable growth is too slow I guess in their minds.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#91
"Colors" are tiny specks of gold a prospector might see in only a single pan full of gravels and sand.
At the current price of gold, I am wondering how many such colors one would have to accumulate to amount to a penny worth of our coinage?
A penny being 1/152,500th of an oz of gold, if gold is selling for $1525.00.
My guess= not very many..........., but still more than you'd think!
Now give me a few the size of a grain of rice, and I'm eating bacon and eggs every day!
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#92
Quote:May 6, 2011, 3:37 p.m. EDT
Silver has biggest weekly drop since 1980

By Claudia Assis

SAN FRANCISCO (MarketWatch) -- The thinly traded front-month silver contract had its worst week since late March, 1980. Silver for May delivery SIK11 -3.22%  dropped 27% in the five-day period, its largest percent drop since that date. The most-active July contract SIN11 -1.67%  also dropped 27% on the week. Repeat margin increases spurred a stampede out of the metal. July silver fell 2.6% to settle at $35.29 per ounce on Friday. The May contract ended at $35.28 an ounce. The week's losses have shaved silver yearly gains to 14%.

http://www.marketwatch.com/story/silver-...2011-05-06
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#93
Silver wasn't the only metal hit.
Gold dropped from a high around $1573.00 per oz last Monday to a low around $1466.00 yesterday I believe, but has now started to climb again and has regained a little over $20 just today, closing at $1495.40.
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#94
I almost commented on Gold but it won't really be hit.

Gold is going to stay above 1400, there is a little profit taking going on but silver is probably going to retreat all the way back to the mid to low 20s, it's most of the way there already.

For gold to make a similar move it would have to drop to 900-1000 and i don't see any signs of that going on.

I do see oil imploding, probably to an initial 65/barrel before rising to around 70-80/barrel, but we won't see it at the pump any time soon.

The dollar is rallying but gold will stubbornly stay up and houses will continue to fall. This is the speculation being squeezed out of commodities back into hedges and bonds. Gold is not speculation, it's protection at this stage!

get the popcorn ready, the'll be blood in the streets either by june or more likely around august, mid summer is a 'safe spot' for the most part.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#95
I will probably be on the Klamath thru most of the summer, and already have a number of extended family that live on the West coast (Calif and Oregon) lining up to spend a week playing in the sands and gravels of the river with me, and I can really use the help!
The climbing price of gold can only help me at this point, but I would also like to see the dollar rally as you predict, and oil drop down as well.
The Mid-west isn't the only place with high water! The Snake river is really high across the street from the house here, but I think they have a handle on it now.
I am in touch with 'The New 49ers' headquarters every week, and the Klamath is still very high, too high to work yet.
I'm afraid the hot weather will arrive on the Klamath before I have much time on it, but I'm going to bite the bullet and buy a dual purpose generator. AC in the travel trailer, and power outages here at home in the winter. The last happens too often anymore.
The F-150 is really going to be pulling a load thru the mountains on the way West, but it's only a year old and should be up to the job.
Need to buy a card table and fold up chairs so I can sit under the trailer awning on the river bank and sip GTs in the evenings!
It's gonna be tough folks, really tough!
So, the words Autumn and Fall are not to be capitalized?
They are in my world!

What has been is what will be, and what has been done is what will be done; and there is nothing new under the sun.
Is there a thing of which it is said, "See, this is new?"It has been already, in the ages before us. Ecc 1: 9-10
Reply
#96
enjoy the vacation.

Expect gold to move, in an over all fashion, horizontaly from now till August. They'll be up and down weeks, but baring some major event like Japan's disaster, Spain going under or the announcement of QE3 gold will probably be between 1550 and 1610 on August 1.

That's what the (mostly currency) fundamentals (bond prices, currency projections, interest rates and default projections) say at this point.

The sad thing is we're not looking at an increase in industry use or demand raising the valuation of these commodities, we're watching currency destruction in terms of their preservation of wealth valuations. Which is why I can predict in general terms what's happening with oil and silver but a nobel prize winning economist who writes for "the paper of record" can't.  :thwack:
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply
#97
So you dont expect it to hit $2k?
Quote:No mountain is too tall if your first step is belief. -Anonymous
...Because even if there were no artifacts anywhere, not studying things of interest is an extreme disservice to science. -Tarius
Reply
#98
I've heard this before...

Quote:The purchasing power of gold has not diminished since Biblical times. According to the Old Testament, during the reign of King Nebuchadnezzar, an ounce of gold bought 350 loaves of bread. Today, an ounce of gold still buys 350 loaves.
http://doctor.claudemariottini.com/2008/...bread.html

Sooo...I guess the price of gold is ultimately linked to the price of wheat......???  Dunno
Reply
#99
(05-07-2011, 11:56 PM)Tarius link Wrote:So you dont expect it to hit $2k?

No it will, it simply will not get there any faster than the current 7-10% annual inflation rate will get it there, with some market gyrations along the way.

If QE3 happens for another 600billion or more it will go to about 2500 off that.

There are a hundred scenarios that can drive up the price of gold, but if the central bank changes nothing and no disasters happen it will take time to get there.

(05-08-2011, 01:01 AM)Kalter Rauch link Wrote:I've heard this before...

Quote:The purchasing power of gold has not diminished since Biblical times. According to the Old Testament, during the reign of King Nebuchadnezzar, an ounce of gold bought 350 loaves of bread. Today, an ounce of gold still buys 350 loaves.
http://doctor.claudemariottini.com/2008/...bread.html

Sooo...I guess the price of gold is ultimately linked to the price of wheat......???  Dunno

That is not a bad way to put it.

Gold, silver and more importantly silver/gold ratio are the measuring sticks of a subjective valuation system.

Their purchasing power does not diminish, they are real money. It's that simple really.

Note:

what i said above, as well as your quote are not true in absolute terms.

It is possible and has happened that the purchasing power of both forms of "hard currency" has eroded, the last major time worthy of note was in the 1850s when the amount of gold above ground and in circulation increased by 50% in 7 years.

This did however balance very quickly over time and is a relatively rare event in history, almost impossible now since modern mining techniques do not seem capable of pulling so much out of the ground so quickly any more as a percentage of what is already in circulation.

It is much rarer an event than civilizations destroying themselves and empires crumbling to dust because they destroyed their currency with a  printing press. Also a lot less harmful when it has happened.
But when a long train of abuses and usurpations, pursuing invariably the same object, evinces a design to reduce them under absolute despotism, it is their right, it is their duty, to throw off such government, and to provide new guards...
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)