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Back to the 70's

Discussion in 'Off Topic Threads' started by rpeerless, Feb 6, 2012.

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  1. rpeerless

    rpeerless Well-Known Member

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    Read some old investment stuff 1970's and have some interesting quotes from Paula Nelson (not Willie Nelson's daughter) an investment wizard.


    " ...The United States has always been a folding-money country, just as some European countries have always been obsessed with gold coinage that could be squirreled away against the next catastrophic war or revolution..... Americans want action for their money. They are fascinated by its self producing qualities if it's put to work....It's true that gold-hoarding goes against the American grain; it fits in better with European pessimism than American's traditional optimism." Also added that her father pointed out that, ("Isn't it interesting the way the people who buy and sell gold and silver always want to be paid - in cash.)"

    Just look at where we're at today.

    Nelson goes on to say, "...The fact is that the average American cannot conceive of national defeat and disaster comparable to the collaspe of France in 1871 and 1940, or a ruinous inflation such as the one that wiped out the middle class during Germany's Weimar Republic in the 1920's...."

    IMHO, I feel like our current economy is one BIG scam.....
     
  2. Big Heap

    Big Heap TS Member

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    Forty years ago we were a cash society. Today the credit card is more popular.

    If you have your own printing press you can print your own cash - similar to today's treasury. It's not worth the paper it's printed on, as we will find when U.S. bond holders want their money back. Most recent example is Iceland. Next may be Greece.

    Borrow all the money you can and buy gold. You can pay the loan back with the trash cash you receive when gold prices have gone to the moon.
     
  3. rpeerless

    rpeerless Well-Known Member

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    In the US a person's word was enough to get credit by saying I'll pay it back, whether it was a mortgage or automobile. Credit was an American thing. As late as 1997, in Africa there weren't any mortgages, if one wanted a house they had to pay cash for everything. Africans laughed that Americans had no cash in their pockets.
    In the Soviet Union in the 1970's it took seven years to save enough to by a car then the purchaser had to wait for the car to be assembled as long as another year or two, possibly three.
    Looks like the US is being redesigned, oh, CHANGED to be like that. Just heard the average price of a new car this year will be in excess of thirty thousand.
    Maybe we should buy gold and revolution plan as in Europe, otherwise gold sellers are just taking advantage and trading gold for a mountain of cash, whether they are capitalists or not they know how to use the system.

    We're just being worked over to make up for European deficiencies.
     
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