EmptyMellon
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source: https://www.armstrongeconomics.com/international-news/north_america/americas-current-economy/the-confessions-of-congressman-x/ For those interested; looks like it just came out.
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Historically, no money (paper or metal) lasted. It was debased, devalued or defaulted on the debts by the borrowers. So yes, as a result of the current global market conditions, there is a short-term store of value in the US dollar, particularly for currencies outside of the US wanting to protect against local currency inflation. As for your inflation question, I can highly recommend reading the following Martin Armstrong blog posts to address your perception of inflation, which I too carried prior to the past Fall: - INFLATION - Multi-Dimensional Confusions (10 Aug. 2015) and - The Misconception of Deflation vs. Inflation (14 Jul. 2015) -
So as I understand it, you disagree with the point that the collapse in value of money comes about as a result of economic uncertainty, which then manifests in the form of people hoarding money; the hoarding of money then results in the shrinkage of the money supply, which is why the western governments are failing to create inflation in spite of their best efforts; hoarding thus slows down the velocity of money and peoples' disposable income?
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1. So you are not aware of some of the known gold proponents/promoters and their gold-centric message, and you simply dismiss this point by saying you have never heard of him. So, if I've never hear of Ayn Rand, I get to dismiss Objectivist arguments/counter-arguments because I've never heard of her, while saying that I don't like the language you are using? 2. Repeating the same or similar statement over and over is not an argument for reason and/or evidence. I don't need to change my words or admit any wrong, as you have repeatedly failed to provide a valid argument against it. Repeating the words "insulting language" twenty times over, doesn't make things insulting. If people are getting triggered by my statement is another thing. If a group of people is standing on the train tracks (in the path of an on-coming train) and I would yell, "get off the tracks, the train is coming, you are going to get killed!" Instead of getting off the tracks, you would say that I am using insulting language, and that I should use some other words. This completely derails the main point, so you just keep standing there while others will judge the situation based on the merit of the info rather than the language used in the warning. 3. The point was and still is to provide people with an alternative perspective, and have themselves make up their own mind based on the info. Whether they find it helpful (wanting to do more research on their own) or not (and move along) to find something more interesting, is simply up to them. Way to twist things around. First you write that I am using an insulting language, because I did not use words that are agreeable to you (and someone else), which is insulting. And now, you write that I need to justify myself in order to have a friendly conversation.
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- Martin Armstrong
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Firstly, when Jim "Mr. Gold" Sinclair, declares $50,000 per ounce of gold, that to you is a rational and evidence-based statement or is it a one-sided, pro-gold, anxiety-inducing statement? So, saying that Jim Sinclair is not pro-gold, or is not providing a one-sided narrative is like saying that Al Gore is not pro-global warming (pro-climate change) and is not providing a one-sided narrative that is anxiety-inducing - unless of course, one has a vested interest in the climate change narrative. Secondly, you state that I insult proponents of gold by name calling because my wording did not agree with your personal bias 'is' insulting. Thirdly, you still fail to refute or make 'your objection' to the interview provided...because words. In closing, one doesn't need to justify their position by stating whether they have any positions in the precious metals or by labeling themselves as being a 'rational philosopher', that is not an argument, that is a personal bias; rather, provide arguments and/or evidence.
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It is a sophistic trap. Quite the needless word-salad. Instead of focusing on the source material and refuting the points based on the arguments made in the interview, you focus on the wording in the one sentence in my post, trying to find some hidden meaning in the already straight forward statement. Simple Definition of one–sided : showing only one opinion or point of view : led or controlled by one of the two people or groups involved source: http://www.merriam-webster.com/dictionary/one-sided So, I am not 'implying' anything, I stated it in a straight-forward manner, yet all I see is: "seem manipulative", "implies", "assume", "insulting", "consider" and my favorite, "I wonder how you react to my response?". And you call my post manipulative? All I see 'is' an emotional response to my post because it does not align with your vested interest. Cool. From another post of mine in this sub-forum (the statements made by Peter Schiff in a 19th of December 2015 Alex Jones/Infowars interview): The last thing Martin Armstrong thinks is that people should have faith in the government. Check out his blog, if you wish; it is at: http://www.armstrongeconomics.com/armstrong_economics_blog. Also, here is clip from a 2015 movie made by a small German production company, which followed him around for 3+ years: https://www.youtube.com/watch?v=iJNEjq7I5Is.
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The following is a very relevant interview for those who are thinking of buying or have already bought precious metals, but have only listened to one-sided pro-gold, pro-precious metals fear-trade "advice" - been there, done that and not going back. 'Financial Sense' interview of Martin Armstrong by James J. Puplava - interview starts at the 2 minute mark: http://www.financialsensenewshour.com/broadcast/fsn2015-0829-1.mp3 [if you have issues with the audio link (mp3), just go to the source below and select from one of the four audio options.] Source: http://www.financialsense.com/financial-sense-newshour/martin-armstrong/expect-dow-hit-13000 (This interview was done on 08/29/2015.)
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Did any of you actually watched the movie or read his blogs or just watched the 10 minute interview...and therefore...conclusions? Do any of you actually have an understanding of how he provides the information on the dates and market movements? 2015.75 was the peak in government not S&P500 and NASDAQ. Calling Martin Armstrong a numerologist and referring to his global politico-economic analysis as a "skill" is like calling Stefan a convincing "cult leader". Somehow, I don't think Mises would interview a "lottery winner". If your definition of "questionable business behavior" is 'the unwillingness to give up his intellectual property (model and code) to the US government and being jailed without due process for 11 years', then I guess you are right. Please, at least spend a little time to watch a few of the movie trailers for The Forecaster to have an idea what this man is about, before you make conclusions:
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I cannot suggest enough the importance of reading Martin Armstrong's blog at Armstrong Economics; at least the blog posts from January 2015 to present - all the blogs as well as the monetary history of the world takes about two weeks (6 to 8 hours per day) depending on your reading speed - take notes, it helps. Reading his blogs helps to relieve the gold-centric myopia and improve one's understanding of the global economy, business cycles and the driving factors - it's there free of charge. Secondly, I would recommend watching an independent movie (came out in 2015) made by a German outfit that followed Martin Armstrong around the globe for 3+ years. The movie is called The Forecaster. It was this movie that really inspired me to take notice and ignore the nae-sayers. I do understand where you are coming from, but here are a few links to chew on, which counter the hyperinflation narrative. Reality of Hyperinflation - The External Alternative. Venesuela's Hyperinflation Predicting economic/market crashes has been Martin Armstrong's focus since the late 1970's when he developed a model known as ECM (Economic Confidence Model) and eventually created an intelligent computer program (known as Socrates), which has successfully predicted every major (and minor) market swing since the 1980s. He has spent something along the lines of $100 million of his own money just to analyze and document the collapse of the Roman silver monetary system (of 280 BC to 518 AD) - that chart did not come about based on someones opinions. Here are a few of Martin Armstrong blogs which I think counter Peter's opinions regarding gold and the US dollar (go to the 2:25:00 mark for Peter Schiff commentary), and that it is safe to buy gold and the dollar will tank, when in fact the opposite is being forcast by Socrates.
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One suggestion before buying any precious metals is to do more education outside of the precious metal circle and visit Martin Armstrong's website: http://www.armstrongeconomics.com/- has a wealth of important info and data. I wish I heard of him before 2011, which would have saved me a lot of money on my investments instead of following the ignorant advice of the precious metal/doom-porn crowd - I am sure Stefan would be getting a lot more denotations from me as a result. There will be a time for precious metals, but unlike the gold pushers might suggest, now is not the time. I used to follow intently Peter Schiff (years before I even came across Stefan), Jim Sinclair, David Morgan, Koos Jansen ; the GATA interviews on Greg Hunter, but have my eyes opened up after reading as much as I could on Martin Armstrong's site. It was like reading Dale Carnegie books and years later coming across Stefan, the world starts to make sense, because there are actual logical arguments, with reason and historical evidence, not just quasi facts and opinions. Martin's blogs and writings are not the most grammatically correct ones, but a man that sleeps 3 to 4 hours a day gets a pass from me.
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" https://www.youtube.com/watch?v=u1b8YZXqqRs Came across this short audio/video indirectly on Zero Hedge.
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Yes, it does. It seems my sarcasm was not conveyed well, in my previous post.
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Wonderful, I hope this brand new philosophical concept of com-mu-nism will work out for them...since historically, nothing like this has been tried out before. Really, I cannot think of one single example. BBC covering a small Spanish com-mu-nist village - how refreshing to see something new. Those dastardly "British Broadcasting Capitalists" (BBC), all they ever cover is evil, self-serving capitalistic enterprises. Nothing like replacing the old and worn-out concept of fascism...sorry, "capitalism", and applying theft and debt to provide "free" land and food (to buy the people). How fresh and original, because none of us have either seen this, read about it or lived through communist "utopia". No experience here. Thank you BBC for that enlightening piece of fresh "journalism". [facepalm]
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My pleasure; glad to see you found it of use.
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So far, this video has been the most informative regarding the basic pros and cons of Bitcoin and cryptocurrency in general. There has been too much misinformation and not enough attempt for a level evaluation of cryptocurrency (never mind the precious metal discussion).