'tis folly to be wise:
I’ve just ordered more precious metal
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And 7% of Americans believe that chocolate milk comes from brown cows. Big deal.
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That is amazing that people know so little. No wonder conspiracy theories are rampant.
Andy
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40% of Americans believe in creationism. I find that more disturbing.
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It’s not just people in the USA. I’ve asked people all around the world about their currency and it is amazing how few understand how even their own currency worked.
No wonder bankers/governments get such an easy pass when it comes to relieving citizens of their hard earned cash!
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And very few people know how their refrigerator works.
And very few know how their mobile phone works.
And very few know how electricity works or how it gets to their home.
And so what? If everyone needed to know a little about everything, then nobody would know a lot about anything. We have people who specialize in refrigerators, in phone design, in the electrical grid … and we have people who specialize in monetary policy and currency.
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True story I swear.
I had a general manager who cut his electric cord in two while trimming his bushes. He taped the two pieces back together, like you would a garden hose. He did not separate the individual conductors. He asked us at work why his breaker kept tripping when he plugged the cord in. It was hard to tell him why and at the same time keep from laughing at him.
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But they know the freezer from the refrigerator.
But they understand when they have signal and they don’t
But they know not to put metal in both sides of a plug and hold on.
Everyone should know a little about everything and be an expert in something. Of course not everyone does but they should.
Andy
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I had a manager that stuck his fingers under his lawn mower to see how high up it was raised. Now known as stubs. Not everyone has common sense.
Andy
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The US Treasury is holding gold. You might liken it to ballast in a ship.
The USD is backed by the US GDP. That is how a liberalized economy works.
If people pay taxes they do not die at a young age as poor dirt farmers. There are countries without much by way of taxes. You can see for yourself how young and poor people die.
Taxes are saving your life and making your life very easy in comparison.
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You refrigerator, mobile phone and electricity are not going to rob you are they?
The banks and governments have been robbing you for years
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I have to admit there is truth in this. The grains of truth are important.
It is not actually specific to the government or banks. They are the two big players in this. It is specific to human economies. When the Spanish in the new world gained too much gold there was major inflation in Spain that was very much gold related or based. The gold/inflation brought down the power of Spain as England ascended.
The issue is the generation verses inflation. The age old saga.
A larger part of what people are doing on this board is trying to invest to out run the inevitable inflation.
Investing in gold is to our run inflation. Don’t lose sight of that. But gold wont help you out run inflation during this part of the cycle.
I get there is inflation right now. The inflation is looking like a two year happening from late 2021 into late 2023 minimally or mostly. This part of the cycle though will be marked overall for a decade or more as a low inflation period where monetary policy is not dominant in policy making.
My thinking is if you want to out run inflation do not look to gold.
If you are mostly talking taxes then you do not understand what is going on.
“Been robbing you for years!!”
Not to mention the 30,000 people who work on Wall Street. Most live by skimming a few pennies at a time on every transaction or assets they keep for you.
They are not risk takers. Skimming is a sure thing.
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