Nations in the past which depend on gold are all failed societies. Due to the limited supply of gold, a nation which depends on gold for money can only survive by enslaving other people and stealing their gold. Once there are no more other people to enslave the country turns on upon itself into civil war and collapse. This is what happened to past empires such as the Roman empire, the Chinese empires, the Spanish empire, etc. All blood sucking leeches which collapsed upon themselves.
The life blood of a modern economy is the creation of innovations that better the lives of people. That is the constant goal of creating better mousetraps. The best way to incentivize people to innovate is if they quickly see monetary rewards from their useful innovations. The economy therefore should create or 'print' as one say money as fast as innovations add new value to the overall economy. If an economy is using only gold as money, there would no incentive within the economy to build up ideas such as McDonalds, the Apple iPhone, Microsoft Windows, 787 Dreamliners, among many others because these ideas cannot be quickly rewarded.
Of course, paper money also has problems. The biggest problem being if the government prints way too much money and if this new money is not backed up by new innovations within the economy then there could be hyper-inflation. Hyper-inflation is dangerous and it did happen in the past. However, factoring in all the risks, paper money is still by far much superior to gold as money. Gold can still be valuable has a hedge. I myself hold some gold and silver as a small part of my portfolio to hedge against unexpected events but most of my hedging is just to hold lots of dollars.
Bankers can make plenty of money in a 2% rate environment or in any interest rate environment for that matter. Most bankers today no longer hold their loans. Once a bank makes a loan, the loan would most likely be quickly packaged into a larger security instrument that the bank then sell on the open market. The bank makes its money from servicing the security they sold as well as fees from packaging up their loans. The trick is not to be caught by unexpected economic catastrophe in the period when the loan is made to the time when the loan is packaged and sold.
Hope this referendum don't pass. Relying on a gold or silver money standard is about one of the most stupid idea ever.
Teabaggers are all morons. They like bashing their heads on the wall with stupid legislation.
The president is trying too much to bring the country together and this is backfiring. There is an urgent need to reduce the power of the Federal government and send this power to the state and local levels. The new technologies of the Internet, high speed telecommunications, robotics, among many others means there is lot less need for centralized control of the country from the Federal or even state governments. This is clearly already happening in Europe where countries are being split apart rapidly. The US itself is also splitting apart though at a slower pace. So instead of fighting the GOP over issues such as gun rights, abortion, social security, unemployment insurance, etc at a national level, the Democrats should focus on eliminating Federal control over these issues and let state and local governments resolve these issues on their own. The Federal government should continue to retain control over national issues such as defense, foreign policy, and intrastate commerce.
Keystone is a piece of #$%$. It should never be built. Fortunately, Canada is trying to replace Keystone with a pipeline going from Alberta to Canada East.
Silver is a commodity but it is also a commodity that is manipulated by people's emotions. How much is silver really worth if it is used only for commercial purposes? Probably a lot lower than present prices. Most of the available silver is bought and held by people with one fear or another. These people think inflation will skyrocket, or the world will collapse, or some other disaster scenario will happen. The main determinate of silver prices is then just ratio of the sum of human fears to sum of human optimism. Humans tend to be much more fearful than to be optimistic so the price of silver will probably remain high. That is unless humans can find some other readily available replacement product to latch onto their fears.
Hope you know the difference between sold out because of an actual lack of supply versus sold out because the supply is being artificially manipulated.
Yep, just bought more shares of this stock after this drop in price.
The company has already announced an audit probe of its finances. This is not something being made up by myself. Also, the company's estimate of its revenue and income is way off from actual results. It is true no company can estimate exactly its revenue and income quarter to quarter. However, the difference between actual and estimated numbers are huge. It brings to mind either the management is totally incompetent or the company is cooking its books.
There are lots of other better pharmaceutical companies that are without the taint of fraud. They are much better for investment than this fraudulent sham of a company.
Somebody must have seem this coming beforehand given the usually high number of shares shorted on this stock prior to the earning release. Too bad I am not one of them.
This is looking like an Enron company now with all type of accounting gimmicks being done by the company. The stock can quickly fall to zero if this is the case.
The US mint did not sold out of silver Eagles. There is a set policy by the US government to mint only a limited number of silver Eagles annually. No doubt the US could have minted many more silver Eagles this year but then this will destroy the price premium people are willing to pay for these coins. In the end, it is just a business decision to limit the supply of silver Eagles.
GOP only want bimbos bought and pay for by the Koch brothers to govern them.
Based on past results, GOP seems ready to go to war with Iran, default on the national debt, shut down all social programs such as food stamps and unemployment insurance, destroy the environment, lower taxes for only the fabulously rich, vastly increase the deficit, etc.
You do know most people go to sleep at night instead of spending their time answering postings from Teabag wackos, don't you?
You are very much out of touch with reality. Markets have been soaring for the past 6 years already.