Socio-Economics History Blog

Socio-Economics & History Commentary

James Turk Interviews David Tice: Gold Is Not a Barbarous Relic! Central Banks Are The Barbarous Relic!

  • YouTube:
    David Tice (http://prudentbear.com) and James Turk, Director of the GoldMoney Foundation, talk about the 1999 credit bubble symposium, which warned about the dangers of reckless money printing and asset price inflation.

    They talk about how Keynesian and monetarist economics have led us down this path, while Austrian School teachings of Mises, Rothbard and Hayek were ignored.

    They also talk about gold mining, the risks involved and how diversification helps to mitigate these. They emphasise the importance of physical gold bullion as opposed to “paper gold” — pointing out that the latter is not a tangible asset.

    James and David talk about stocks, volatility and the dangers of another Lehman-style market meltdown, and discuss potential “black swan” events on the horizon. They discuss currencies — with particular emphasis on the plight of the US dollar — and note that many countries are resorting to capital controls in an effort to stem the appreciation in their currencies.

    Both men emphasise the importance of education and learning about monetary history. James makes his point that it is not gold, but rather central banks that are the barbarous relic. They also discuss the importance of distinguishing between price and value; in the case of gold it should be valued in relation to its peers — that is, other forms of money. Using this metric it is still undervalued.

    This interview was recorded in August 2011 at the GATA conference in London. David Tice is a shareholder of GoldMoney.com.

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August 18, 2011 Posted by | Economics | , , , , , , , , , | Comments Off on James Turk Interviews David Tice: Gold Is Not a Barbarous Relic! Central Banks Are The Barbarous Relic!

Mike Maloney: Debt Collapse – The Case For $20,000/oz Gold !

August 18, 2011 Posted by | Economics | , , , , , , , , , , , | 1 Comment

ZeroHedge: As Chavez Pulls Venezuela’s Gold From JP Morgan, Is The Great Scramble For Physical Starting?

  • The scramble for physical gold by countries has begun. Many central banks all over the world are accumulating physical gold. They know that the USD will eventually be greatly devalued. There are no safe currencies compared to gold. Even the safest fiat currency: the Swiss Franc is being competitively devalued. The Swiss government knows that the strong Swiss Franc is hurting their economy and is considering pegging it to the Euro. The world is undergoing competitive devaluations, currency war. This will lead to a global monetary meltdown. Got gold yet?

    As Chavez Pulls Venezuela’s Gold From JP Morgan, Is The Great
    Scramble For Physical Starting?

    by Tyler Durden, http://www.zerohedge.com/
    In addition to the nationalization of his gold industry, Chavez earlier also announced that he would recover virtually all gold that Venezuela hold abroad, starting with 99 tons of gold at the Bank of England. As the WSJ reported earlier, “The Bank of England recently received a request from the Venezuelan government about transferring the 99 tons of gold Venezuela holds in the bank back to Venezuela, said a person familiar with the matter. A spokesman from the Bank of England declined to comment whether Venezuela had any gold on deposit at the bank.” That’s great, but not really a gamechanger. After all the BOE should have said gold.

    What could well be a gamechanger is that according to an update from Bloomberg, Venezuela has gold with, you guessed it, JP Morgan, Barclays, and Bank Of Nova Scotia. As most know, JPM is one of the 5 vault banks. The fun begins if Chavez demands physical delivery of more than 10.6 tons of physical because as today’s CME update of metal depository statistics, JPM only has 338,303 ounces of registered gold in storage. Or roughly 10.6 tons. A modest deposit of this size would cause some serious white hair at JPM as the bank scrambles to find the replacement gold, which has already been pledged about 100 times across the various paper markets. Keep an eye on gold in the illiquid after hour market. The overdue scramble for delivery may be about to begin.

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August 18, 2011 Posted by | Economics | , , , , , , , | Comments Off on ZeroHedge: As Chavez Pulls Venezuela’s Gold From JP Morgan, Is The Great Scramble For Physical Starting?

Israeli Troops Shoot Dead Palestinian Approaching Border!

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

  • Zionist ‘666’ Israel is illegally occupying Palestinian land and are committing war crimes daily. They are imprisoning Palestinians in an open air prison called Gaza. They are starving the Palestinians in Gaza and denying/limiting them basic necessities! These are war crimes!
  • Modern Judaism is not the religion of the Bible! See here!
  • Modern Ashkenazi Jews are not the Jews of the Bible!

    Israeli troops shoot dead Palestinian approaching border
    http://www.telegraph.co.uk/
    Israeli troops shot and killed a Palestinian man on Tuesday in the Gaza Strip as he came near to the border with Israel, Palestinian medics and witnesses said.

    The shooting came hours after Palestinian medics reported that a Palestinian was killed and seven wounded in at least four overnight Israeli air strikes across Gaza. The Israeli military said its aircraft had targeted four areas in the Gaza Strip in response to the firing of a Grad rocket from the Palestinian territory into southern Israel.

    The man killed near the border fence with Israel was identified by his family   as Mohammed al-Majdalali, aged 22. Majdalali had approached the border east of the refugee camp of Maghazi in the central Gaza Strip, the sources said. Relatives said he did not belong to any armed group.

    An Israel army spokesman confirmed that “soldiers opened fire at a suspect who was approaching the border fence in this sector, and hit the suspect.” She did not say if the suspect had any weapons or explosives on him. The Israeli army opens fire systematically on Palestinians who go near the border fence separating the Gaza Strip from the Jewish State to prevent attacks on patrols, infiltration attempts or bids by suspects to plant bombs.

    Earlier on Tuesday Adham Abu Selmiya, spokesman for the Hamas-run emergency services in the Gaza Strip, said air strikes had killed one Palestinian and   wounded seven in the coastal enclave. “We learned of the martyrdom of the youth Musa Shtawe, 29, who died of   his injuries after a strike east of Gaza City,” he said. “The outcome of the Israeli aggression during the past 24 hours is now one martyr and seven injured.” The Israeli military did not specify which sites it had targeted, but Palestinian sources said they counted five air strikes across Gaza.

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August 18, 2011 Posted by | GeoPolitics | , , , , , , | Comments Off on Israeli Troops Shoot Dead Palestinian Approaching Border!

Stephen Lendman: Daily Rogue State Israeli Lawlessness!

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

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August 18, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , | Comments Off on Stephen Lendman: Daily Rogue State Israeli Lawlessness!

Alex Jones: Establishment Media Giants Fear ‘Ron Paul’ Mania Rising!

August 18, 2011 Posted by | GeoPolitics | , , , | 2 Comments

Ray McGovern: The Pentagon & Israel’s Islamic Terrorism Propaganda Game is Crumbling!

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

August 18, 2011 Posted by | GeoPolitics | , , , , , , , , | Comments Off on Ray McGovern: The Pentagon & Israel’s Islamic Terrorism Propaganda Game is Crumbling!

‘Russian Stealth’ 1st Public Flight: Sukhoi PAK FA T-50 at MAKS Airshow!

August 18, 2011 Posted by | Science & Technology | | 1 Comment

Engdahl: Merkel & Sarkozy Plan a Soviet Throwback!

August 18, 2011 Posted by | Economics, GeoPolitics | , , , , , , | 1 Comment