The Doc and Turd Ferguson got together for a round-table interview with AltInvestors.com Thursday and discussed the ramifications of QE∞, Bernanke’s options and game-plan going forward, the recent tungsten-filled gold reports and the implications for precious metals investors, allocated/unallocated/rehypothecated metal concerns, and finally the end game for the Western fiat monetary system- are we headed back to a gold standard whether the Fed likes it or not?
The Doc & TF tag-teamed to address the pertinent issues facing gold and silver investors today.
Full interview below:
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_silv.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/images/live/s_gold.gif)
Good interview. I wanted to interject a random thought, it’s about “smart growth”. I wanted to say, that to me, the definition of smart growth would be a gold standard. Every time I hear the term I think: well, if we had a gold standard it would force us to grow sustainably, but I never hear the environmentalist control freaks talk about ending the fiat circus, just about ending the rest of freedom instead.
There’s something special about loosely structured, conversational type ‘interviews’ that I find refreshing. Lots of great insight just jokingly bandied around, actually increases the ‘level of retention’ more effectively than the usual constructed fare of dry ’serial statements’. Great stuff, guys! I especially liked that final little quip about ‘doing this again tomorrow’. YES!, Do more of these!
Doc, seriously, you blow those two guys away. You’re the “Doctor’ to a couple of medical school ‘students’. I noted how you didn’t let T.F. bait you into his exaggerated hyperbole. Right out of the gate T.F. showed he really does not understand the process by stating that the Fed is now “directly monetizing the debt” and Bernanke is “crazy”. You gently tried to correct him saying “Yes, it’s about monetization.” Implying that you know it’s not ‘direct’ monetization, but rather ‘indirect’ through intermediaries with the purpose of continuing to recapitalize the banks. And then offering that Bernanke is not “crazy”, but rather he’s misguided. He knows what he is doing. He just has a different agenda. Well done Doc. If T.F. gets out of hand ask him about his recent call that we were going to see a downdraft in gold. Instead gold/silver took off. He could not have been more wrong.
I enjoy listening to the Doc. He comes across well. Between his name, “Turd” and his speaking mannerism I find it hard to put much credibility in what ”Turd” has to say. “Turd” comes across over the top too often. In looking at “Turd’s” site recently I see where his posts have focused on his fear of terrorism coming to his backyard (went and bought more ammo) and the need for everyone to “prep” due to his fear of ME conflict. Oh, just so happens that there is a button you could now click on to buy “prep” items through him. I’m more interested in the future of PMs than someone hawking their goods or asking outright for money needed to keep their site going. You have to question their motivation at that point.
Agreed. I used to read the TF site once in a while but have since ditched it for the WAY better SD web site. :-D
Doc has up to date info that is relevant to what is actually happening.
Devaluation of gold. I have not listened to the interview just yet, I am downloading using Replay Media Catcher,a wonder capturing a variety of embeds. According to Helicopter Ben’s speech of notoriety, rumored to be the tipping point in persuading the Board to vote him as Chairman, he has only devaluation and gold confiscation left. I think we can rule out confiscation lest the Fed confiscates all of our tungsten
http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm
Devaluation of gold. I have not listened to the interview just yet, I am downloading using Replay Media Catcher,a wonder capturing a variety of embeds. According to Helicopter Ben’s speech of notoriety, rumored to be the tipping point in persuading the Board to vote him as Chairman, he has only dollar devaluation and gold confiscation left. I think we can rule out confiscation lest the Fed confiscates all of our tungsten
Here is the “Helicopter” speech
http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm
“Devaluation of gold”? What a novel concept! In fact, gold cannot be devalued because it is THE monetary standard against which all other monetary assets are measured. What can and does devalue is fiat currency because it is not a standard and floats in value continuously.
Not devaluation of gold…revaluation. It will be the dollar that is massively devalued vs. gold.
edit: revaluation of gold, devaluation of dollar
Turd’s beginning to understand the vital matter of prepping. This might mean he sees that gold and silver as just two legs of a large foundation to help a person become well protected. I sent T my prepper guide so that might help a bit. If he hawks prepper stores on his site there nothing wrong with that. The more people who are aware of being self prepared the better IMO
I have a contribution, for the best freeze dried food I have found, and I have a lot of it now, right out of the bag seasoned and all, is from
http://www.backpackerspantry.com/
AGXIIK, I agree with you that some form of prepping is important. I think most stackers prep in one way or another. What I am referring to is a site host posting links to dubious overseas websites to support his “recommendations” while hawking prepper stores that he profits. And I might add, prepper items that could be bought for less elsewhere. If you have read his posts and feel that my opinion is unwarranted, then we will just respectfully disagree on this one. As someone who is new here I have a lot of respect for most of your posts.
SS 3000 I was unaware that either Bix or Turd were hawking prepper supplies. There is a good bit of science to prepping so a careful review of who is selling and the source and quality of their goods is best before committing large sums of money to the quest. Most click throughs get a small commission but it does add to the cost. I like to buy local from retailers but have bought ammo, hard assets and some foods on line after careful research. So I am with you on this subject
Ed B, you had said … ““… gold cannot be devalued because it is THE monetary standard against which all other monetary assets are measured.”
When we consider gold (and silver) in relation to population, they can ONLY … appreciate … in relative ‘value’. The historic averages show that population grows a bit more than recovery of precious metals (roughly 1/4 percent,annually). I call the phenomenon the ‘Population Demand Factor’. It accounts for the observation I made researching wage history where, for three centuries prior to the 19th, the average wage stayed fairly steady at an ounce of silver per day, equating to two day’s cost of living.
More than the usual list of reasons for metals to be ideal in the role of money, exist in the pragmatic demands of living itself. We expend our labor in the service of others, to ultimately provision for our feeble years. That metallic money naturally grows in value by sheer circumstance, makes it perfect for the goal of savings. Its additional value at that later point, is offset for the younger population by their higher number, making the labor they expend, no greater than that of the older folks in their prime. So, metallic money conserves the value of labor, while concurrently suppressing price ‘inflation’.
QE infinity will cause hyperinflation and then after it ends, the US dollar will collapse. Gold and especially silver will be revalued again because more people will exchange their dollars for these metals which will create more demand.
Unless if after the US dollar collapse, the Amero becomes Canada, USA and Mexico’s new currency and the sheeple start to adopt fiat currency again.
The one thing I had watched for so long that it is now making me tired: the constant news that actually is no news because there has not been one shred of evidence that any news is leading to a change in the way our government operates. The world that now is, is not the world I grew up in. I see nothing in the near future that provides any reason to believe anything is going to change.