#6447597 - 04/26/12 06:36 PM
Re: Price of silver
[Re: eh76]
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Campfire Tracker
Registered: 07/15/07
Posts: 6416
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Sure Kieth, as long as the debt is at a fixed rate, FRN$'s are fine. The problem is that FRN$'s are subject to unlimited creation, so saving in them and expecting them to hold value through time, which is one of the three major functions of money, is a fools hope at best, and financial suicide at worst. Precious metals have proven that they hold value through time and are thus the best form of savings available, especially in these times of unlimited "Quantitative Easing" by the monetary authorities.
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If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
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#6447605 - 04/26/12 06:38 PM
Re: Price of silver
[Re: mike762]
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Campfire Oracle
Registered: 12/17/06
Posts: 40148
Loc: Edge of Paradise, Wyo
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Sure Kieth, as long as the debt is at a fixed rate, FRN$'s are fine. The problem is that FRN$'s are subject to unlimited creation, so saving in them and expecting them to hold value through time, which is one of the three major functions of money, is a fools hope at best, and financial suicide at worst. Precious metals have proven that they hold value through time and are thus the best form of savings available, especially in these times of unlimited "Quantitative Easing" by the monetary authorities. At this point, and no matters what happens, my mortgage is fixed at xxx FRN's per month. I am spending them as fast as I can on that mortgage 
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Let's get it right. I believe .gov can do that.
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#6447641 - 04/26/12 06:47 PM
Re: Price of silver
[Re: eh76]
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Campfire Tracker
Registered: 07/15/07
Posts: 6416
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Very true, unless the banks decide to approach .gov to make them whole for inflation.
IOW, if your fixed rate at 4% for 15 is a bargain when actual inflation is 10-20% because of unlimited FRN$ creation, and the banks, who essentially own .gov, approach them and convince them that the contract that you signed at 4% is unfair and needs renegotiation to reflect current inflation rates, then I would expect .gov to force a renegotiation regardless of contract law, especially as it seems to be rather "flexible" of late.
Crazy? Maybe; but after GM, Chrysler, MF Global et al, I wouldn't count any contract as solid.
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If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
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#6447645 - 04/26/12 06:49 PM
Re: Price of silver
[Re: mike762]
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Campfire Oracle
Registered: 12/17/06
Posts: 40148
Loc: Edge of Paradise, Wyo
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Yeah but I will have it paid off in 3 years at triple payments.
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Let's get it right. I believe .gov can do that.
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#6447664 - 04/26/12 06:55 PM
Re: Price of silver
[Re: eh76]
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Campfire Ranger
Registered: 02/14/09
Posts: 2118
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My friend has 17 bars like that. His father-in-law had them in his safe when he died,as well as 4 gold $20 pieces that him and his brothers had back when they had all of those coins melted. I put one in my back pocket just to see how it felt trying to carry one.Needless to say the belt did no good.
OH,silver bullets are only good for werewolves.
Edited by plainsman456 (04/26/12 06:56 PM)
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#6447672 - 04/26/12 06:57 PM
Re: Price of silver
[Re: eh76]
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Campfire Tracker
Registered: 07/15/07
Posts: 6416
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Good on ya. I hope to pay mine off in six.
_________________________
If the American People allow private banks to control the issuance of their currency, first by inflation, then by deflation, the banks..., will deprive the People of all their Property,...Thomas Jefferson
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#6447685 - 04/26/12 06:59 PM
Re: Price of silver
[Re: eh76]
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Campfire Oracle
Registered: 11/04/05
Posts: 28764
Loc: Four States
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Yeah but I will have it paid off in 3 years at triple payments. Wow, that's pretty impressive. Hard to do.
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Front Toward Enemy
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#6447705 - 04/26/12 07:02 PM
Re: Price of silver
[Re: EthanEdwards]
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Campfire Oracle
Registered: 12/17/06
Posts: 40148
Loc: Edge of Paradise, Wyo
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Not feeding kids anymore and no other debt....makes it easier. We live comfortable but conservatively.
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Let's get it right. I believe .gov can do that.
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