I stopped listening around the 30 minute mark. It was a good refresher, but most of us have seen this information through other sources. However, the main reason I stopped listening is when he stated that banks steal your money when you make a deposit. That is dishonest wording, just like his claim that ASE went to 4x the price of silver in the 08-09 crash. That didn't happen and is provable. Not that banks pay much interest now, but take the 1980s. Does Maloney think a business (bank) can take in cash, put it in a safe and then pay out 16-18% interest? How exactly is the bank supposed to earn the money to pay the interest? And a lot of those same people borrow from the bank they put their money into. And your deposits are guaranteed, at least on a nominal basis. So, how exactly is the deposit money stolen? While I appreciate any spreading of the word about gold and silver, I don't appreciate when the hawkers mislead people through intellectually dishonest wording.
Mike Maloney has converted me: we're in real danger and we have to prepare. therefore, I've started gold farming in World of Warcraft to build up my wealth for when the dollar crashes.
As southerncross mentioned due to Fractional Reserve Banking. Thats how it gets stolen - and the more they guarantee ( either the Gov or some other entity ) the more they steal. With gold & silver there are no promises - the 'money' is literally inside it. They will collapse paper currencies - and than they will say "Mistakes have been made, the previous monetary system didnt work, and let us start a new and a more equitable one for the masses, etc" - thats once they own 90% of the mined gold.
Do you doubt his predictions of an even greater appreciation in the value of Gold or Silver? People like yourself that were onto the potential 4 years ago were ahead of the majority here on SS etc but even now 9 out of 10 people in the mainstream do not have a clue at all, Lucky M/F's like you that had the nouse and knowledge back then are admittedly ahead of the trend but in reality when you take into account the very vast majority on a world wide basis you would have to admit the potential for Gold and Silver is nowhere near mainstream at all. Maloney at the end of the video stated that instead of a few thousand getting the word he would prefer a few million getting it. Even a few million would be a drop in the ocean dont you think? Try asking everyone you meet tomorrow on the street if they know who Mike Maloney is , then ask yourself if the people that attended the presentation are ahead or behind the Mainstream. You BB are way ahead of the average , those that attended MM's presentation , ahead of those that join here, but I feel you are discounting the potential of the other millions and billions that will catch on as things decompose in our western mentality, I get the feeling personally you are so far ahead you are jumping the gun on the potential. I see the potential gains still a few years ahead, 4-6 and the current opportunity as still that, MM see's gold at astronomical gains even compared to todays figures, along with Silver, maybe even more for Silver. I follow your blog, and am keen to see why you would disagree with what MM proposes in this presentation, most here may well be late comers but I feel we are still ahead of the mainstream pack.
i wish i had as much real gold as i have in wow. and its funny Gold to silver ratio there is 1:100 lol
I still dont think the mainstream is anywhere near awareness tho anywhere near it at all , You yourself BB may be fully immersed and all around you may be but the "real world" , the everyday person is still a long way from the realisation in my books , they just dont have a clue. You live in it and are therefore immune to the "Real" world, you have already taken the pill and realise what is going on, already being ahead of the thinking and realisation I think you have become insulated, just as a tip take a bus or train trip, spend some time in a cafe or takeaway restaurant such as KFC or McDonalds, ask the people around you about Gold or Silver and gauge the knowledge. You may find you are detached from the general body of the population, I may be wrong but everybody I talk to has basically no clue at all . 1 out of 10 is a generous appraisment so far as being aware of PM's , The people attending Mike Maloney may be a ways behind yourself but they are still way ahead of the majority. They might be nibbling but it is only the smart ones that are doing so and the feed they are nibbling upon is very luscious.
Maybe not long term but in the interim there will need to be a standard. What is the historic standard that everybody knows? What is the historic standard that every society recognises ? You just cannot ignore it or get away from it.
The money is not stolen and it guaranteed against loss on a nominal level. Show me examples where depositors had their funds actually stolen? Again on a nominal level, people are not losing money and it is not being stolen from the depositors. The actual theft from depositors that occurs is through inflation, not fractional banking. Theft on a nominal level occurs through reckless lending and that is symptom of bad fractional lending, not fractional lending itself. The victim in this circumstance is the taxpayer, not the depositor. And less than 1/2 of the US citizens pay income taxes. Fractional lending works well when the loans are made to business owners who use the borrowed funds to expand their businesses, make them more productive, etc. Reckless can occur with or without fractional lending. If anyone thinks that fractional lending itself is bad, then just shut the banks down. Banks will not take your money for deposit if they cannot lend it out to make a return on the money. And when the money is lent out, that money is usually going to end up in another bank. Let's look at a world without fractional banking. Let us say that Joe borrows money from a bank to purchase equipment for his business. The equipment seller takes that money and deposits it into his account. Wait, the bank will not take money the because it cannot lend it out. And how will the bank know that those funds were originally borrowed funds? It is/was the reckless lending and the banks taking fractional banking to extraordinarily dangerous levels that have caused much of the problems. Going on margin 10% is not that risky. Going on margin 98% is extremely risky. Anything can become unsafe when taken to an extreme. Milk is good for you, but too much milk has killed people. People should be careful what they wish for, because a world without fractional lending is going to be a very different one.
So lets try a system that places value were it belongs then, Joe places savings in a bank and they dont lend %90 against his money ? It is not the people lending money against their assets, it is the banks doing so backed buy the governments guaranteeing it. The banks have no money if the people do not place it with them.
I'd like to disagree. Going by that logic CB's, "elite" and "world powers" should stockpile let say "opals" instead of gold. Tho yes, it is easier to go from fiat to fiat, but will it happen? Logic say, that yes, sheeple will buy it again, but .... Gold shines sooooo bright right now, that some of us are blind
I can just see the headlines now...Two hackers broke into the bank of England last night and transferred the entire balance to Greece..Meanwhile the Reserve bank in the USA was investigating where a large deposit originated from...Greece officials say the financial crisis is over,,,Gold is trading in NY at 1oz for 2 pro hackers or i hooker. We'll take a break in now President Ron Paul announced that Fort Knox had been indeed robbed . He said he may have to lower the $ to be able to replace the 7tons of gold. He continue to assure voters not to worry as all homes would have an ATM by the end of the month. Regards Errol43
Yes, I'm trying to make a difference between sheeple, and "elites". While the first, would happily follow with any crap served to them on a silver platter, the other are sticking to gold So, ye, when nixon took us from the gold standard, in 71 sheeple didn't care much about it, but gold response was firm. I think that if we would go from one fiat system to the other, gold would respond as strong as before. After all, its money and nothing else <- to some well established, "people".
its one thing lending out a % of the banks holding but to artifically create dollars from thin air is another. Remember it wasnt that long ago that a dollar bill was a bond for physical gold?
There is something missing here, its fractional lending on a currency that can be spawned into existence. If you fractional lend on gold, at least this is finite to the real amount of gold out there. So we know its up to 10 times, based on current 10% fractional reserves. By getting off the gold standard and replacing currency with fiat, there is no limit on how much currency can be created into existence. This is M1 driven, guess what the FED is doing? increasing M1. Prior to coming off the classical gold standard, there were less inflationary and deflationary cycles. Even if there were, the impact was not as great compared to the cycles in the last 40 years. Having said that, we need better lending practices on a sound backed money supply that cannot be expanded to infinity, maybe increasing the reserve ratio to 50%. So even if there was a run on the banks, you may get 50% of your funds back. Slam
The debt collapse issue reminds me of Nostradamus when he said Quatrain 28 in book eight: The imitations of gold and silver will become inflated which after the rape are thrown into the fire, after discovering all is exhausted and dissipated by the dept. All scripts and bonds are wiped out.
