A World In Debt

Forum Sponsor
Freestyle72 said:
The Canadian Silver Maple has a face value of $5.
Click to expand...

Just don't try leaving the country with 10 gold coins with a face value of $100 each. The rules were changed recently. Gold coins are worth their intrinsic monetary value, not face. The idiots are looking at it as money, it's just shiny dirt with a number stamped on it. Jeezz
 
imkruzen said:
Just don't try leaving the country with 10 gold coins with a face value of $100 each. The rules were changed recently. Gold coins are worth their intrinsic monetary value, not face. The idiots are looking at it as money, it's just shiny dirt with a number stamped on it. Jeezz
Click to expand...

Gold maples are face value of $50 each as a currency but the bank will give you a version of spot depending on the bank.

I have a guy who buys from me regularly and travels widely with gold maples, them using them instead of travelers cheques or what have you. He also uses silver maples. He says every where in the world he goes they all except Canadian gold and silver coins as they are the highest quality and he has never had a problem and not that it should matter but he is black. He moved to Canada specifically because of the economic climate here and he started up what seems to be a very lucrative company based in Toronto. I hear stories like this all the time.
 
Red695 said:
Gold maples are face value of $50 each as a currency but the bank will give you a version of spot depending on the bank.

I have a guy who buys from me regularly and travels widely with gold maples, them using them instead of travelers cheques or what have you. He also uses silver maples. He says every where in the world he goes they all except Canadian gold and silver coins as they are the highest quality and he has never had a problem and not that it should matter but he is black. He moved to Canada specifically because of the economic climate here and he started up what seems to be a very lucrative company based in Toronto. I hear stories like this all the time.
Click to expand...
Correct, my mistake, the coins are $50. I haven't looked at them since 1984. I've read a few forums where people tried taking more that a few coins and they end up getting the third degree by customs. Some agents don't know what to do or how to value it etc. Too much risk of hassle for me being detained for a period of time, even if they do jack.

There is fear all over Europe and rightfully so. Gov. controls the value of their currency but cannot control the value of gold currency. Gold is a currency without borders. That's why all the brain washing campaign for 30 yrs. Gov. likes to control and a bank run puts them out of control. Curious what people will be doing with all their fiat paper? They'll buy USD which is just the nicest house in a bad neighborhood. Bet they won't deposit it in the bank? Capital will be sloshing around looking for a safe heaven. Should get interesting next week.
[h=2]Fears of Bank Runs Mount in Southern Europe[/h]
 
imkruzen said:
and the question arises, why didn't the money gurus and economic academics raise rates when there was irrational exuberance in the economy? Greenspan called it himself that? They just kept rates low? Why? There is a reason, these people in those positions know a bit about about economics, maybe even more than you.

I'm still looking for an answer to the reason of unintended interest rates rising, especially when a country is in recession.
Click to expand...

They were trying to expand the economy even more. When the U.S was still booming some economists were convinced the country had become recession proof.
 
imkruzen said:
Correct, my mistake, the coins are $50. I haven't looked at them since 1984. I've read a few forums where people tried taking more that a few coins and they end up getting the third degree by customs. Some agents don't know what to do or how to value it etc. Too much risk of hassle for me being detained for a period of time, even if they do jack.

There is fear all over Europe and rightfully so. Gov. controls the value of their currency but cannot control the value of gold currency. Gold is a currency without borders. That's why all the brain washing campaign for 30 yrs. Gov. likes to control and a bank run puts them out of control. Curious what people will be doing with all their fiat paper? They'll buy USD which is just the nicest house in a bad neighborhood. Bet they won't deposit it in the bank? Capital will be sloshing around looking for a safe heaven. Should get interesting next week.
[h=2]Fears of Bank Runs Mount in Southern Europe[/h]
Click to expand...

The way the US is headed it won't be USD. They are set to lose their reserve currency status. The most money to be made is in scrap btw. Hold on to your scrap gold and silver, don't give it to Russel Oliver.
 
01cbr said:
They were trying to expand the economy even more. When the U.S was still booming some economists were convinced the country had become recession proof.
Click to expand...

*FAIL* 1 more chance. Then you lose.

I'm still looking for an answer to the reason of unintended interest rates rising, especially when a country is in recession.
 
Red695 said:
The way the US is headed it won't be USD. They are set to lose their reserve currency status. The most money to be made is in scrap btw. Hold on to your scrap gold and silver, don't give it to Russel Oliver.
Click to expand...

Traveled Europe and Asia and there is still perception that US is great. Reserve status of USD is dying. Blocking Iran from SWIFT has initiated the development of a bank for Asia and BRIC supported by the Chinese. There will be transaction clearing done there without the US interference or sanctions. Turkey shipped 9 tons of gold to Iran as payment, getting around SWIFT. China is also paying this way. India is doing gold and barter to get around SWIFT. There are misinformed people in every country. US might be better than Somalia or Syria but it certainly not what it was 30 years ago.
 
imkruzen said:
*FAIL* 1 more chance. Then you lose.

I'm still looking for an answer to the reason of unintended interest rates rising, especially when a country is in recession.
Click to expand...

LOL.

You think economics text books are wrong so how am I supposed to give you your "right" answer?

Hows this one for you?

They kept interest rates low during a booming economy so they could destroy it. Seems to go along with your thinking.

Why does the U.S continue to spend? Why has Canada piled on so much more debt since 08?
I have a feeling your answers to this are going to be a fail.
 
imkruzen said:
Traveled Europe and Asia and there is still perception that US is great. Reserve status of USD is dying. Blocking Iran from SWIFT has initiated the development of a bank for Asia and BRIC supported by the Chinese. There will be transaction clearing done there without the US interference or sanctions. Turkey shipped 9 tons of gold to Iran as payment, getting around SWIFT. China is also paying this way. India is doing gold and barter to get around SWIFT. There are misinformed people in every country. US might be better than Somalia or Syria but it certainly not what it was 30 years ago.
Click to expand...

http://en.wikipedia.org/wiki/Gold_reserve

The US has the largest sovereign stockpile of gold bullion in the world. Fort Knox is filled with gold. However, there has not been an audit on how much gold the federal reserve has in a very long time. As we have established, US currency is not backed by gold, or silver or any other tangible asset. It's only backed by the credibility of the US government and the strength of the US economy. Some speculate that the gold that is held by the federal reserve, will be what bails the country out of the problems it has now. The US gov has been stock piling gold and when they allow the dollar to fail in whatever way they decide, they will use the gold to buy out their debt and then introduce a new fiat currency based on the gold standard.
 
If i may try a crack at that. I read that the reason interest rates stayed low is to "stimulate" people to invest in the stock market where the return was seen as higher vs higher interest rate saving accounts? With a higher interest rate mortgage people would be more inclined to pay off the mortgage and not splurge on consumerism. I mean think about it...if my mortgage rate is peanuts why pay the principal off sooner? i can take that same money and invest it in the stock market and get a higher ROI. From personal experience i view my CC as my number one thing to pay off. At 19% interest rate, even though its only a 1K limit CC i see that as a bigger problem than my Line of credit at a much more lower interest rate.

Am i heading down the right track

BTW, watch IOUSA. A documentary made in 2008 BEFORE the housing bubble. Its an eye opener.

imkruzen said:
*FAIL* 1 more chance. Then you lose.

I'm still looking for an answer to the reason of unintended interest rates rising, especially when a country is in recession.
Click to expand...
 
Red_Liner740 said:
If i may try a crack at that. I read that the reason interest rates stayed low is to "stimulate" people to invest in the stock market where the return was seen as higher vs higher interest rate saving accounts? With a higher interest rate mortgage people would be more inclined to pay off the mortgage and not splurge on consumerism. I mean think about it...if my mortgage rate is peanuts why pay the principal off sooner? i can take that same money and invest it in the stock market and get a higher ROI. From personal experience i view my CC as my number one thing to pay off. At 19% interest rate, even though its only a 1K limit CC i see that as a bigger problem than my Line of credit at a much more lower interest rate.

Am i heading down the right track

BTW, watch IOUSA. A documentary made in 2008 BEFORE the housing bubble. Its an eye opener.
Click to expand...

Yeah, that is my understanding of it also.
 
Red_Liner740 said:
If i may try a crack at that. I read that the reason interest rates stayed low is to "stimulate" people to invest in the stock market where the return was seen as higher vs higher interest rate saving accounts? With a higher interest rate mortgage people would be more inclined to pay off the mortgage and not splurge on consumerism. I mean think about it...if my mortgage rate is peanuts why pay the principal off sooner? i can take that same money and invest it in the stock market and get a higher ROI. From personal experience i view my CC as my number one thing to pay off. At 19% interest rate, even though its only a 1K limit CC i see that as a bigger problem than my Line of credit at a much more lower interest rate.

Am i heading down the right track

BTW, watch IOUSA. A documentary made in 2008 BEFORE the housing bubble. Its an eye opener.
Click to expand...

This is my view. And economy cant grow unless people are spending.
 
LOL...an economy grows due to savings and investment. Not spending. That's an out date Keynesian economics that brought us here.

01cbr said:
This is my view. And economy cant grow unless people are spending.
Click to expand...
 
BLUE_KAWI said:
LOL...an economy grows due to savings and investment. Not spending. That's an out date Keynesian economics that brought us here.
Click to expand...

When money is saved it isnt spend. How are business's supposed to grow or even sustain themselves?
They need to lay people off....now unemployment is rising......people are spending even less.

I seriously challenge you to provide an example how an economy can grow through saving.
 
BLUE_KAWI said:
LOL...an economy grows due to savings and investment. Not spending. That's an out date Keynesian economics that brought us here.
Click to expand...

Gov. debt is theft. Interest payments absorb capital that can be used by consumers, but is confiscated through taxation. Deficits rise, interest pmts rise, liquidity is continuously being drained from the economy, Gov. print to replenish. Inflation ensues, robs consumers. Consumers have less disposable income, economy slows. Gov. prints, lowers rates, consumer goes into debt. Economy chugs along, debt grows taxes rise, reduced benefits.Consumers have less to spend, credit exhausted. Repayment and savings begin. Interest rates are low but economy is unresponsive.

GDP = C + I + G + (X-M) Worth reading
 
One by one, the States are reinstating gold and silver coins as legal tender. Momentum for the use of sound currencies once again is clearly picking up steam, and we expect it to only accelerate as the public becomes more aware of the freedom offered by debt free sound money.

Article:
 
imkruzen said:
Gov. debt is theft. Interest payments absorb capital that can be used by consumers, but is confiscated through taxation. Deficits rise, interest pmts rise, liquidity is continuously being drained from the economy, Gov. print to replenish. Inflation ensues, robs consumers. Consumers have less disposable income, economy slows. Gov. prints, lowers rates, consumer goes into debt. Economy chugs along, debt grows taxes rise, reduced benefits.Consumers have less to spend, credit exhausted. Repayment and savings begin. Interest rates are low but economy is unresponsive.

GDP = C + I + G + (X-M) Worth reading
Click to expand...

Thats easy to assume without a real example of what the economy would be like if interest rates skyrocketed in 08 and government spending was cut to a surplus.
 
You must log in or register to reply here.
Back
Top Bottom