The Phaserl


Gold – A Reminder.

from Junius Maltby:

Junius Maltby – reminder on some of the thoughts on gold. Here I show you some gold I recently mined from the mountains and discuss the gold in its raw form.

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1 comment to Gold – A Reminder.

  • rich

    A Licence to Print Money

    John Law firmly believed that (as Mark Twain said), “The lack of money is the root of all evil.” I’m not being facetious. Law believed that trade and commerce were inhibited by a lack of liquidity, which in turn stymied lending. In a strictly precious metals economy it was difficult to encourage commerce because of the restricted supply of metal circulating. However, as the Medici’s and later the Amsterdam bankers had figured out, if you issued paper claims on the gold and silver plate and specie in the vaults, you could…..issue more claims than what was IN the vaults, provided that the claimants didn’t come to you all at the same time, i.e. a run on the bank. This became the basis for the Fractional Reserve System, whereby countries could issue paper money backed to greater or lesser extent by assets held by the Government. At first this took the form of bearer notes, but later it was perverted into inconvertible fiat currencies backed by “the Full Faith and Credit of the United States” (or Canada, or UK, or Mickey Mouse or Whomever, take your pick)…..but I am getting ahead of myself.

    Louis XIV, also known as The Sun King is famous for having constructed the Palace of Versailles, and for fighting three major wars and two minor ones. According to Alasdair Macleod, when he died in 1715 after 72 years on the throne he left the state three billion livres in debt, which was the equivalent of 1,840 tonnes of gold. This was about 85% of the world’s estimated gold stock at that time, at the livre’s conversion rate into Louis d’Or. The TV show “Versailles” started airing on the BBC in June ( It’s pretty fair, but even computer generated graphics can’t accurately convey the opulence of the French Court. Think Michael Jackson’s Neverland Ranch X 1000. When the Sun King died France was utterly stony broke.

    Helicopter Money is coming soon! A huge percentage of the developed world’s bond issues are now “earning” negative interest. This is not sustainable. All the pension funds invested in bonds are gonna collapse unless something drastic is done, and done soon. You will see things in the coming months and years that will defy all logic and will go against all the rules of Economics and Commerce.
    Since the US Republican and Democratic Conventions are hogging the headlines recently, I will close with a line from Ronald Reagan’s 1992 National Republican Convention address. He said, (referring to the freedom and prosperity of America) “You ain’t seen nothing, yet!”

    A Reminder.

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