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Very Hot Topic (More than 25 Replies) The Meaning of Banning Cash (Read 1854 times)
Jeff
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Re: The Meaning of Banning Cash
Reply #70 - May 26th, 2017 at 5:32pm
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SkyChief wrote on May 26th, 2017 at 1:54pm:
How will I be able to pay the kid who cuts our lawn? 
They way it usually works is you arrange things like that first, and if the situation changes, you let the other party to the contract know. If he won't take silver, and insists on FRNs, give them to him... Unless you like him and he's given you good service in the past, then maybe you could tell him about the relative merits of silver v. fiat currencies.
  
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Jeff
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Re: The Meaning of Banning Cash
Reply #71 - May 26th, 2017 at 5:33pm
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SkyChief wrote on May 26th, 2017 at 1:54pm:
He would be wise to accept it -  normally we just give him 15 bucks cash.
"Cash", what an interesting word!
  
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SkyChief
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Re: The Meaning of Banning Cash
Reply #72 - May 26th, 2017 at 11:55pm
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Jeff wrote on May 26th, 2017 at 5:33pm:
"Cash", what an interesting word!
At least I didn't confuse "cash" with "money".
  
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Jeff
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Re: The Meaning of Banning Cash
Reply #73 - May 28th, 2017 at 8:07am
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SkyChief
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Re: The Meaning of Banning Cash
Reply #74 - May 28th, 2017 at 2:17pm
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Jeff wrote on May 28th, 2017 at 8:07am:


"The rules of the game also say you need a lot of gold to play, but you don’t recognize the gold or discuss it publicly. Above all, you do not treat gold as money, even though gold has always been money."



And it always will be - manipulated or not.  I think Rickards grossly over-estimates the price for gold when manipulations are no longer possible:



"It may take a year or so to attract liquidity, but once these new exchanges are fully functional, the physical gold market will regain the upper hand as a price maker.

Then gold will commence its march to monetary status, and its implied non-deflationary price of $10,000 per ounce."
  
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Jeff
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Re: The Meaning of Banning Cash
Reply #75 - May 28th, 2017 at 4:20pm
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SkyChief wrote on May 28th, 2017 at 2:17pm:
"It may take a year or so to attract liquidity, but once these new exchanges are fully functional, the physical gold market will regain the upper hand as a price maker.

Then gold will commence its march to monetary status, and its implied non-deflationary price of $10,000 per ounce."
What? Where does that come from?
  
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SkyChief
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Re: The Meaning of Banning Cash
Reply #76 - May 28th, 2017 at 5:14pm
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Jeff wrote on May 28th, 2017 at 4:20pm:
What? Where does that come from?
From the Jim Rickards link you posted!  Wink

http://thecrux.com/jim-rickards-the-golden-conspiracy/

Didn't you even read it?
  
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Jeff
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Re: The Meaning of Banning Cash
Reply #77 - May 28th, 2017 at 6:07pm
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SkyChief wrote on May 28th, 2017 at 5:14pm:
From the Jim Rickards link you posted!  Wink

http://thecrux.com/jim-rickards-the-golden-conspiracy/

Didn't you even read it?
Yes I did, before I posted the link.

I didn't read anything about "exchanges" in  Rickards' essay...

Being human, perhaps I missed it...

Where was it? Could you please quote him in context? Thanks.
  
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SkyChief
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Re: The Meaning of Banning Cash
Reply #78 - May 29th, 2017 at 11:51am
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Jeff wrote on May 28th, 2017 at 6:07pm:
Yes I did, before I posted the link.

I didn't read anything about "exchanges" in  Rickards' essay...

Being human, perhaps I missed it...

Where was it? Could you please quote him in context? Thanks.
Im not going to spoon-feed you, Jeff.  If you want to find out what Rickards is talking about, you'll need to re-read the essay.

When Rickards talks about "Exchanges", he's referring to London gold spot Market, and New York Gold Futures [COMEX] Market  - he plainly states that in the essay.  How could you miss it?
  
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Don_G
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Re: The Meaning of Banning Cash
Reply #79 - May 29th, 2017 at 12:14pm
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Meaningless and redundant conversation. Libertarians don't ban anything! Not even kids carrying their guns to elementary schools.
  
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