So.....I guess we are crazy to be holding a silver stock like EXK
Richard Russell, the "godfather of investment letters" blog on Fiat money:
"No fiat money has lasted for as long as a century. The US has had prior experience with fiat money -- the Civil War Greenbacks, the “Bills of Credit” of the original American colonies, the ill-fated Continentals during the Civil War. None of these have survived, and neither will the Federal Reserve notes that we now refer to as “dollars.”
I dislike falling back on the morality argument, but consider this. I may work a lifetime for five million dollars. Yet some academic working for the Federal Reserve can press some keys on a computer and create ten billion dollars instantly without working up a sweat. Is the ten billion dollars he creates moral money? Did anyone work for the money? Did anyone take a risk for the money? Did anyone drop a bead of sweat for it? No, then I claim it is immoral and actually evil money, and as such it is doomed.
The only power evil has is the power to destroy itself. I affirm that the Federal Reserve note is doomed. When the Federal Reserve note goes down the drain, all fiat money in the world will go down with it. Today information travels around the world with the speed of NOW. People around the planet will see that fiat money is a fantasy and a counterfeit fraud foisted upon them by unconscionable and unscrupulous bankers. It is then that the crowd will turn to gold, in much the way that people turned to gold back in 1978 to 1980."
It's not just the bankers, it's also the politicians who are owned by the bankers, didn't start out that way, but that's where we are. We got good ol' #$%$ Nixon to thank for that. And the Supreme Court who never weighed in on that one. Bet those judges would prefer to be paid in the barbarous relic at this point.
Speaking of evil, #$%$ Cheney used to campaign against Democrats saying, "Character counts". Then we found out about his two drunk driving convictions. And he was probably drunk when he shot his friend in the face. Why do folks think he was drunk? Hmm. Most guys with multiple DUIs have a drinking problem, or a character problem, or both.
I think Romney would have made a fine President, but it was not the right time to elect a Wall Street financial executive. Now the GOP is turning on Chuck Hagel, he has the trouble of thinking for himself, and saying things like he's a US Senator, not an Israeli senator. Wow, what was he thinking when he said that?
I saw Ted Cruz last night on the PBS news hour. His approach to all the illegals immigrants living here: Let's enforce the laws on the books. Well Texas is getting browner by the day, don't think he can survive many terms with that mentality. His dad came from Cuba, but since he's here now, guess it's time to slam the door and deport tens of millions. OK that's not gonna to happen.
The GOP is very slow to adapt. They used to lead in areas like climate change and acid rain. Not anymore. The environment is officially a dirty word. And banning assault weapons? Forget about it. The GOP would just like to issue assault weapons to every white male, crazy or not, because crazy folks got constitutional rights too, That would be a lot more money to the NRA and more $$$ for the gun rights crowd. What a windfall. What's the worst that could happen?