QWAK,The SUBPRIME problem was as stated just the tip of the ICE BURG and NOW things are UNRAVELING even at the TOP!
This bubble makes the DOT COME bubble seem SMALL in comparison! :(
Bottom line DEBT realy is DANGEROUS --- go figure!
QWAK,Bear in 3 to 5 years I may concider buying RAW LAND but not till after all the FAKE VALUE of LEVERAGED FIAT currency has been removed from the equasion of determining a fair market value.
QWAK,bush,Split as many FROG HAIRS as you like but when it comes to DEFINITIONS it gets BLURED by the economic reality of the time and place. ULTIMITLY it is highly UNLIKELY that on a big ticket item like land etc. that an offer to BUY with REAL PHYSICAL GOLD at a FAIR rate would be refused! LOL
"You also say gold is currency, which is totally incorrect, both in commerce as well as in the English language."
How about in the other language? It may exist in the quacky language.
QWAK,canucanoe,GOLD is MONEY it can also be used as CURRENCY and has been for 5000+ years ---- what YOU think I make this stuff UP? LOL
The central bankers have spent great time and effort TRYING to REEDUCATE people to ACCEPT and BELIEVE that the FIAT CURRENCY they issue and the governments that they controll pass laws requiring its use but it is all just a FARCE because ultimitly when their system breaks down the PEOPLE always decide what THEY want as MONEY/CURRENCY and GOLD and SILVER have won that race ever damn time! LOL
LINCON suspended the constitutional LAW that requires that the only OFFICIAL US MONEY be GOLD and SILVER but the law is still there on the books and can be reinstated and ultimitly will be when their system CRASHES and the HOAX becomes obvious to every one. If the officials don't have the guts and smarts to do it the PEOPLE WILL and the government will be HISTORY!
In the mean time both GOLD and SILVER remain as VALUABLE in their own right in the back ground and to a small extent UNDER GROUND or ALTERNITIVES for FIAT. Many of the DIRIVITIVES out there suporting all this bolated credit system are LINKED to GOLD and out side the control of the governments or central banks so GOLD as MONEY never REAL went away, it is just not in the peoples hands as it SHOULD BE!
Your trying to split frog hairs over definitions is esencialy meaningless and only helps the hoax/scam that ROBS the people of their TRUE FREEDOM and replaces it with FALSE promises that can NEVER be honored.
QWAK,canucanoe,IF this melt down can not be stoped and continues even if in spits and spurts but DOWN we WILL see a TEMPORARY drop in the price of GOLD and SILVER as the price of BOTH are set by PAPER CONTRACTS for both which are linked to an asortment of DIRIVITIVES that spred out like cob webs in a haunted house. How low is hard to estimate but I dbout $550.00 personaly and it will be the LAST opertunity to BUY befor BOTH take off like rockets (priced in FIAT of corse) mostly because no body is going to want to SELL because GREED has truned to FEAR and TRUST in FIAT will be sliping FAST!
This could go on a long time IF the house of cards actualy falls down and the PPT is unable to shore up the market as a panic gets loose.
Ultimitly like I have always said the GOLD stays the SAME every thing elses around it CHANGES and for the most part DEFLATES because the ESTABLISHED values were mostly HOT AIR all along.
Alpha, nothing has been established. "We", in fact, doesn't even exist. "You" consistently call people names when they hold you to your words.
You were so giddy about a drop in gold pricing that you invited yourself to someone else's cheesecake party when gold hit $550. I'm glad to see that you still stand behind your $550 call, and that your expectation is of it occuring in November.
As for my 1970s gold experiences, I haven't any.
Canoodle.. We have already established that you are poor at reading and understanding posts. Expecially so when you have an agenda. I suggest you review the post w/o your agenda. Read it outloud. Ask your Jr High helper for his understanding.
I also note that you have stone-walled on the question as to how much you lost buying gold in the 70s. You can adopt a lie and deny, but your non-response has already revealed the truth. I should have recognized earlier that you were a goldbug. Guess I was distracted by Dwuck's goldbug mania.
I am looking forward to enjoying cheesecake with Bear, perhaps in November.