On Oct 3, 9:18*am, John Smith wrote:
On 10/2/2010 10:27 PM, Nickname unavailable wrote:

...
* explain away the private sector screwing people over gold. gold is a
impossible way to *back a modern economy. its deflationary in nature.
no country is willing to go back to the gold standard and starve.

Gold works just as any other currency or medium of exchange. *You can
scam people with stocks, bonds, dollars, etc. *Naturally, you can do it
with gold also ...



then its not a good way to back money then, if it can be a scam. you
just helped me blow away the gold backed money scam, thank you.

Truth is, the wealthy have large holding of gold and other valuable
metals. *They don't wish the slaves to have them. *You are one of those
slaves who just doesn't realize the game ...



in a free market economy, where the wealthy are vastly under taxed,
the wealthy will take their money out of productive activities that
they were forced into by a progressive tax, and put said money in non-
productive things such as antiques and other things that they think
will hold value in a depression. of course that is the wrong way to do
things, and invites a depression, and antiques and other so-called
hedges that were, or still are in a bubble due to under taxation,
plummet. just look at the antique artwork these days, the bubbles
popped, and prices have deflated.
the same will happen to gold and other commodities sooner or later.
cash will become even more scarce, and those commodities will have to
be sold at fire sale pieces to raise scarce cash to pay bills.


Regards,
JS