Freedom............Gold ????

[Cat Man Du]

<div class="bbWrapper">From Zero Hedge Fund<br /> <br /> Howard Buffett Said &quot;Human Freedom Rests On Gold Redeemable Money&quot;, Called For Return To Gold Standard<br /> <br /> <u><span style="color: #0000ff">&quot;/users/tyler-durden&quot;&quot;/users/tyler-durden&quot;</span></u>Submitted by <u><span style="color: #0000ff">&quot;/users/tyler-durden&quot;</span></u> on 05/26/2010 14:15 -0400<br /> <br /> <br /> Sometimes the apple does fall very, very far from the tree. A must read essay by Howard Buffett, father of the &quot;legendary&quot; investor who initially was so very much against derivatives then promptly changed his tune, discusses fiat money and gold, and concludes that &quot;<b>human freedom rests on gold redeemable money</b>.&quot; In this stunningly simple, straightforward, and flawless analysis, Buffett&#039;s father stresses the relation between money and freedom and contends that without a redeemable currency, an individual&#039;s freedom and one&#039;s access to property is dependent on goodwill of politicians.<br /> <br /> <b>Buffett also says that paper money systems generally collapse and result in economic chaos. He goes on to observe that a gold standard would restrict government spending and give people greater power over the public purse.<br /> </b>Lastly, back in 1948, Howard Buffett, said this the &quot;present&quot; is the right time to restore the gold standard. Alas, 60 years later, his advice has still been largely ignored, and as a result we have a global economy that stands on the precipice of global default with runaway budget deficits across the entire developed world. Key quotes: &quot;Is there a connection between Human Freedom and A Gold Redeemable Money? At first glance it would seem that money belongs to the world of economics and human freedom to the political sphere.<br /> <br /> <b>But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty. Also, when you find that Lenin declared and demonstrated that a sure way to overturn the existing social order and bring about communism was by printing press paper money, then again you are impressed with the possibility of a relationship between a gold-backed money and human freedom.</b>&quot;<br /> <br /> His conclusion is eerily prophetic with what is happening with US society currently: &quot;<b>I warn you that politicians of both parties will oppose the restoration of gold, although they may outwardly seemingly favor it. Unless you are willing to surrender your children and your country to galloping inflation, war and slavery, then this cause demands your support. For if human liberty is to survive in America, we must win the battle to restore honest money.</b>&quot;</div>

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[mkzhang]

<div class="bbWrapper">I never read too into what people say once they become famous.<br /> <br /> When you are famous enough (specially as a self made billionaire or their relative), any shit coming out of your a$$ someone will find a way to package it into gold and no matter how obscure the connection, someone will make it into a prophecy.</div>

 

[andviv]

<div class="bbWrapper">This is a very interesting macro-economic topic...<br /> <br /> I kinda understand what they say about using gold-backed currency. Problem is, the only real way to grow an economy that way is by finding more gold. Get everybody a spoon and have them dig for more.<br /> <br /> This makes the economy a very closed zero-sum game, where you must take money away from others so you get to be better off than the rest.<br /> <br /> I see then why politicians prefer to have a mechanism that lets them print money so they can pump it into the economy and have more people getting access to more resources.<br /> <br /> I believe this paper-currency is what allowed the middle class to exist.<br /> <br /> Centuries ago all the gold was owned by the king and his court people. Everybody else was poor. No middle-class.<br /> <br /> Paper currencies have allowed the growth of a middle class and to give those of us that were not born into royalty a fighting chance. I kinda like that.<br /> <br /> But, that is what I understand. And I know my knowledge and understanding is very limited. So there is a huge chance I am completely wrong.<br /> <br /> So I try to focus on today&#039;s reality: Paper currency, inflation should be coming soon, so I need to get working hard on building assets that help me protect from inflation. <br /> <br /> I will worry about defensive moves (against inflation, and diversification, and complex tax strategies) when I get to the point I have enough to protect.<br /> <br /> Right now? My only focus is on building more and more and grow more and more, so I can worry about other stuff later.</div>

 

[StreetsofSilver]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="" data-source="" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> <b>But when you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty. </b> </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote> <br /> <br /> <br /> The U.S. outlawed individual ownership of gold from the 1930&#039;s to the early 1970&#039;s. There are no known cases of anyone being fined or penalized for not turning their gold into the U.S. government when the law was in effect. It is estimated that only 2% of the population actually turned over their gold to the govmt.</div>

 

[Cat Man Du]

<div class="bbWrapper">:iagree:Andviv said:<br /> <br /> <span style="color: Red">I believe this paper-currency is what allowed the middle class to exist.</span><br /> <br /> Centuries ago all the gold was owned by the king and his court people. Everybody else was poor. No middle-class.<br /> <br /> <br /> Yeah........... ya hit it!! :iagree:</div>

 

[Cat Man Du]

<div class="bbWrapper"><blockquote data-attributes="" data-quote="StreetsofSilver" data-source="post: 130445" class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch"> <div class="bbCodeBlock-title"> <a href="/community/goto/post?id=130445" class="bbCodeBlock-sourceJump" rel="nofollow" data-xf-click="attribution" data-content-selector="#post-130445">StreetsofSilver said:</a> </div> <div class="bbCodeBlock-content"> <div class="bbCodeBlock-expandContent js-expandContent "> The U.S. outlawed individual ownership of gold from the 1930&#039;s to the early 1970&#039;s. There are no known cases of anyone being fined or penalized for not turning their gold into the U.S. government when the law was in effect. It is estimated that only 2% of the population actually turned over their gold to the govmt. </div> <div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div> </div> </blockquote> <br /> Yep!!!!!!!!!! :iagree:Just because I posted this..............DOESN&#039;T mean I have agreed to the post!<br /> Just wondered what you guys thought?</div>

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[StreetsofSilver]

<div class="bbWrapper">:iagree:Andviv said:<br /> <br /> <span style="color: red">I believe this paper-currency is what allowed the middle class to exist.</span><br /> <br /> <br /> <span style="color: black">True. I believe this paper currency is what allows the government to exist. </span><br /> <br /> <span style="color: black">Throughout history, societies have gotten away from the gold standard. Each time it happened, their paper currency failed. Some took longer than others to fail. Back when there was a barter system - ie.) trading gold, silver, wheat, coffee, whatever - there was no such thing as inflation or deflation. </span><br /> <br /> One of the reasons (obviously there were many reasons) that the U.S. was the superpower in the previous century was because we were one of the last countries to enter the WWs. The U.S. manufactured those wars for Europe. When the wars were over - Europe paid us in gold first. Now we are in debt to countries that are funding our wars. When the U.S. can&#039;t repay the debt in gold, they will print dollars. When too many dollars go into existence, inflation is likely the result.</div>

 

[max momo]

<div class="bbWrapper">One major reason nobody was prosecuted for NOT turning in their gold after Roosevelt&#039;s executive order is because many banks actually confiscated holdings from safety deposit boxed per order of Treasury Department.<br /> <br /> Another major reason, most people disobeyed the order. You can&#039;t enforce a law that over 90% of the population refuse to follow.</div>