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FRONT PAGE  |  10/19/2017
MONDAY, NOV 23, 2009  |  4 comments
Gold Hits Another Record on Deepening Economic Worries
Gold rose more than 1 percent to another record high on Monday as concerns about accelerating inflation and weak economic growth prompted investors to seek relatively safer assets, while supply concerns boosted oil and copper.

Asian stocks also rose, led by gains in Australia, thanks to higher resource stocks, although volumes were light with the Japanese market closed for a holiday.


CLICK HERE to Read Entire Article
www.nytimes.com

Response to economic crisis?
  START  
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· Page 1 ·  Found: 4 user comment(s)
News Item11/25/09 5:48 PM
Susan | Internet  Find all comments by Susan
Hello Mike,

Weimar Germany had been suffering from inflation ever since World War I; but it was in the two year period between 1921 and 1923 that the true “Weimar hyperinflation” occurred. By the time it had ended in November 1923, the mark was worth only one-trillionth of what it had been worth back in 1914.

if it were a simple question of supply and demand, a government would have to print a trillion times its earlier money supply to drop its currency by a factor of a trillion; and even the German government isn’t charged with having done that. Something else must have been going on in the Weimar Republic, but what?

Light is thrown on this mystery by the later writings of Hjalmar Schacht, the currency commissioner for the Weimar Republic. The facts are explored at length in The Lost Science of Money by Stephen Zarlenga, who writes that in Schacht’s 1967 book The Magic of Money, he “let the cat out of the bag . . what actually drove the wartime inflation into hyperinflation, said Schacht, was speculation by foreign investors, who would bet on the mark’s decreasing value by selling it short.

www.webofdebt.com/articles/hyperinflation.php

4

News Item11/25/09 5:12 PM
Mike | New York  Find all comments by Mike
Susan wrote:
Lessons from the Japanese:
Time to Stop Borrowing Money and Start Printing It
Ellen Brown, November 23rd, 2009
http://www.webofdebt.com/articles/lesson_japanese.php
“We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon.”
--Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, 1934
---
Seems like Germany after WWI tried to get out of its troubles through over-inflating the money supply. Didn't work very well did it?

"If the banks create ample synthetic money we are prosperous; if not we starve" is one of the most ridiculous statements I've ever heard. Many German people were "millionaires" in 1923. But they couldn't buy a loaf of bread because they didn't have enough money.

3

News Item11/25/09 2:48 PM
Susan | Internet  Find all comments by Susan
Lessons from the Japanese:
Time to Stop Borrowing Money and Start Printing It
Ellen Brown, November 23rd, 2009
http://www.webofdebt.com/articles/lesson_japanese.php

“We are completely dependent on the commercial Banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the Banks create ample synthetic money we are prosperous; if not, we starve. We are absolutely without a permanent money system. When one gets a complete grasp of the picture, the tragic absurdity of our hopeless position is almost incredible, but there it is. It is the most important subject intelligent persons can investigate and reflect upon.”

--Robert H. Hemphill, Credit Manager of the Federal Reserve Bank of Atlanta, 1934

www.webofdebt.com/articles/lesson_japanese.php

“. . . Tokyo’s price index fell 2.4% in October, the deepest deflation in modern Japanese history. . . . The government could stop this . . . . It could print money à l’outrance to stave off deflation. Yet it sits frozen, like a rabbit in the headlamps.

Japan’s terrible errors are by now well known. . . . Quantitive Easing was too little, too late, and this is the lesson for the West. We must cut borrowing . . . "

2

News Item11/23/09 2:23 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
Psalm 115
4 Their idols are silver and gold, The work of man's hands.
5 They have mouths, but they cannot speak; They have eyes, but they cannot see;
6 They have ears, but they cannot hear; They have noses, but they cannot smell;
7 They have hands, but they cannot feel; They have feet, but they cannot walk; They cannot make a sound with their throat.
8 Those who make them will become like them, Everyone who trusts in them.

1 Peter 1
17 And if you address as Father the One who impartially judges according to each man's work, conduct yourselves in fear during the time of your stay upon earth;
18 knowing that you were not redeemed with perishable things like silver or gold from your futile way of life inherited from your forefathers,
19 but with precious blood, as of a lamb unblemished and spotless, the blood of Christ.
20 For He was foreknown before the foundation of the world, but has appeared in these last times for the sake of you---NASB

1
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