Absolutely. Im with you on this one. A term deposit seems very stupid in light of these online high interest accounts.
I understand that money ie fiat is an acceptable and convenient means of commerce, but so too would be AU/AG in minor amounts. Whilst it may complement fiat, especially in times of crisis, I personally do not believe that AU/AG will make a reasurgence to oust fiat permanently. The real question is, is there any proof that the authorities abhor using fiat to buy PM's?
Subscribers to "The Privateer" and you will understand http://www.the-privateer.com/gold6.html In any discussion of the future of Gold, or of the price of Gold, the first thing that must be realized is that Gold is a political metal. In the true meaning of the word, its price is "governed". This is so for the very simple reason that Gold in its historical role as a currency is fundamentally incompatible with the modern worldwide financial system. Up until August 15, 1971, there has never in history been an era when no paper currency was linked to Gold. The history of money is replete with instances of coin clipping, printing, debt defaults, and the other attendant ills of currency debasement. In all other eras of history, people could always escape to other currencies, whose Gold backing remained intact. But since 1971, there is no escape because no paper currency has any link to Gold. All of the economic, monetary, and financial upheaval of the past 30 years is a direct result of this fact. The global paper currency system is very young. It depends for its continued functioning on the belief that the debt upon which it is based will, someday, be repaid. The one thing, above all others, that could shake that faith, and therefore the foundations of the modern financial system itself, is a rise (especially a sharp rise) in the U.S. Dollar price of Gold.
Point taken. I always tend to gloss over, and not read, that part of the privateer. I get the privateer every 2 weeks - it's a great subscription, and highly recommended for those who want IMHO an unbiased view of world events.
The one ultimate aim of the central banking system would be to have so much debt out there that the entire GDP of the world is just enough to pay the interest. They would never want the debt repaid. That's what analysts are missing IMO. The debts wont be repaid, there isn't even an expectation for the principal to be repaid. Its all about the usury. The usury is the vacuum hose through which all the real wealth is stolen. They therefore want to capture all the GDP of the world in interest payments and keep issuing enough new debt to keep pace with the growth in GDP. That equals total ownership of the worlds labour and production. That's the place central bankers want to be. Not have debts paid off.
LOL, I work some 11 month's per year and get 5 weeks holyday so you have got the numbers mixed up Projack.
Yes, any EU dealer can only sell silver to Sweden up to a yearly limit, when the limit is reached, that's it for the year. I'm not sure about the limit in Euros but it is very low.
So the dealer, in this case, having made his yearly profit effectively goes on holiday for the rest of the year?
