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horgad
1000+ Penny Miser Member
USA
1641 Posts |
 Posted - 03/06/2008 : 07:57:32
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I would have to say that this is the best financial discussion that I have heard or read this year and I read and skim a lot of them. This one I listened to every word...
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Some highlights:
Gold at $255 and other commodities around that time were at inflation adjusted 200 year lows when the current run up started.
Gold went from $35 to $850 in the last big run up or about a 25X gain. During this run up gold has went up 4X...so far.
Sugar is currently one of the cheapest commodities.
If he was Ben Bernanke's professor he would not have let him graduate unless he promised that he would only work for Zimbabwe's Fed. Bank. That cracked me up. Its pretty bad when you start laughing at obscure crap like that. 
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Edited by - horgad on 03/06/2008 09:18:13 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 03/06/2008 : 09:13:44
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| Hey, there's a plan. Inflate the currency like Zimbabwe to $25,000,000 to $1 and pay off the national debt.. then start over. Where can I get my $25 million? I realize it is a lousy investment, but it would be so cool to have all those stacks of useless dollars. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/06/2008 : 14:27:39
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quote:
Originally posted by HoardCopperByTheTon
Hey, there's a plan. Inflate the currency like Zimbabwe to $25,000,000 to $1 and pay off the national debt.. then start over. Where can I get my $25 million? I realize it is a lousy investment, but it would be so cool to have all those stacks of useless dollars.
Penny hoarders would have a huge advantage in Zimbabwe, but it is not because we have a stash of sound money but rather because we are use to carrying heavying loads. In Zimbabwe just being able to carry around enough money to buy a few groceries is a challenge. $100 US translates into 40 lbs of Zimbabwe notes!
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All kidding aside a country with as much resources as the US is likely not to do a Zimbabwe and more likely to do a Brazil or a Mexico. In other word a quick painful devaluation or two or three and defaulting on debts (just like you are talking about) and then back to business as usually with a "new" fiat currency. So hopefully we won't do a Zimbabwe where the pain just drags on and on and on... |
Edited by - horgad on 03/06/2008 14:32:04 |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
 Posted - 03/06/2008 : 17:24:37
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I agree with you. At some point a wheelbarrow comes in really handy. It has happened in this country before though.
Are you familiar with the phrase "Not worth a Continental" or the term "Shinplaster?"
I still want some.. it would be cool to have a million of something besides pennies.. of course it is cool to have a million pennies too. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
Edited by - HoardCopperByTheTon on 03/06/2008 17:25:01 |
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n/a
deleted
16 Posts |
Posted - 03/06/2008 : 17:38:37
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| So how do we get in on the sugar market? |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/07/2008 : 07:09:33
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quote:
Originally posted by Bradley
So how do we get in on the sugar market?
Exactly what I would like to know. The big boys do it using commodities futures trading. Other than that the best thing I have so far is ticker symbol DBA on the American Stock Exchange, but it includes corn, wheat, soybeans, and sugar. Hopefully somebody will come out with a pure sugar ticker symbol soon...
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Edited by - horgad on 03/07/2008 07:10:03 |
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Know Common Cents
Penny Pincher Member
195 Posts |
Posted - 03/07/2008 : 19:11:01
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I'd broaden myself beyond just sugar. Key (nutritional) food components of food are going to be the hot items. That would be all of the grains in edible form such as flour, dairy products, eggs, nuts or the oil of seeds. Look at a can of Coke and you'll see that it's sweetened by high fructose corn syrup. Yet another major use for corn in addition to making stupid Ethanol for reformulated gasoline.
I've been looking into buying a mid-size chest freezer to place in my basement. Just my opinion, but we'll all be better off stashing away food with protein than trying to play the commodity markets. There are some good deals on freezers (especially if you can find a "scratch and dent" sale at an appliance dealer). Some even have a rebate due to their "Energy Saver" status. |
Here in Wisconsin, we have some of the highest property and gasoline taxes in the US. We're squeezed so much, I have to make my daughter wear penny boxes for shoes. At least she has an endless supply. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 03/10/2008 : 08:37:38
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quote:
I'd broaden myself beyond just sugar.
Most of the food stuffs (wheat, soy, corn, etc.) have had amazing run-ups. Faber's point is not that other food stuffs won't keep going up, but rather that sugar has been lagging and should do better comparatively. The price of corn and price of sugar in theory should be tied together closely because corn syrup and sugar are basically interchangeable. If sugar is lagging, it is only a matter of time before it plays catch-up. But it is a moot point because I don't know a way to invest in a straight sugar play... |
Edited by - horgad on 03/10/2008 08:38:24 |
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Marc Faber Interview
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