tag:blogger.com,1999:blog-8939666320943790100.post1737570244276407729..comments2024-02-11T01:14:21.904-08:00Comments on SURVIVING IN ARGENTINA: Daily Wage in Silver During the Roman Empire FerFALhttp://www.blogger.com/profile/07578136334334588454noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8939666320943790100.post-85078189214978913752013-03-11T04:43:52.338-07:002013-03-11T04:43:52.338-07:00This idea could be correct, but what about this: m...This idea could be correct, but what about this: maybe gold is too expensive today, not silver too cheap.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-51540763498606461112013-03-04T12:42:57.104-08:002013-03-04T12:42:57.104-08:00There's really no 'magic' ratio betwee...There's really no 'magic' ratio between gold and silver.<br /><br />Compared to the time of the Roman Empire, silver has depreciated in value vs. gold because:<br /><br />1. massive "New World" discoveries of silver (e.g. Comstock lode)<br /><br />2. silver's use in industry<br /><br />a. short term it means more price volatility, depending on whether we're in a boom or recession<br /><br />b. long-term industry tries to find substitutes for silver, or technological changes occur to reduce industrial demand<br /><br />e.g. how much silver is used today in film processing vs. back in 1980?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-48601437534989773942013-03-02T16:29:03.185-08:002013-03-02T16:29:03.185-08:00The US court case "216 Jamaica Avenue, LLC vs...The US court case "216 Jamaica Avenue, LLC vs S&R Playhouse Realty Co." illustrates<br />how the long view works not just for vampires. <br /><br />In 1912, a lease for urban land in<br />Cleveland, Ohio had a clause that rent would be $10,000/year rising to Maximum of $35,000 per year by<br />1923. For a 99 year lease --renewable for a second 99 year to 2110 AD. <br /><br />$35,000 was a fortune at a time when the USA had not yet fought WWI, WWII, the Korean War <br />and the Cold War to become a global power.<br /><br />Obviously $35,000 today is not what it was in 1912. But the lease also had an interesting<br />anti-inflation clause -- that the rent would be payable in gold. That term became invalid in<br />the 1930s when the US Congress banned private ownership of gold --but the US Courts ruled<br />that it became valid again when Congress restored the right to trade in gold around 1975.<br />A decision that the landlord used to escape the ruinous $35,000 per year cap on the rent. <br /><br />See http://www.ca6.uscourts.gov/opinions.pdf/08a0322p-06.pdf .Don Williamsnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-82557779180886020672013-03-02T15:59:56.095-08:002013-03-02T15:59:56.095-08:00By the way, olive oil and wheat flour at Costco ar...By the way, olive oil and wheat flour at Costco are the real values, in Roman Terms.<br /><br />Of course, that may change. The American Founders designed the US Constitution based on the mixed government theory of Aristotle (circa 350 BC) --as passed down by Polybius circa 130 BC. <br /><br />But the Roman Republic --on which America was based -- collapsed into civil war and chaos roughly 70 years after Polybius wrote about its inherent strength. <br /><br />Today , America is following a similar course -- its elites grow ever richer from a global empire while her middle class are being destroyed by the burdens of Empire and the import of cheap foreign goods and labor.Don Williamsnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-88554685909670569752013-03-02T15:55:29.954-08:002013-03-02T15:55:29.954-08:00Ferfal didn't show it but Roman coins during t...Ferfal didn't show it but Roman coins during the Empire stage show a clear progress of debasement. <br /><br />There is nothing like looking at the coins from various time periods to show the decline. <br /><br />In the Middle Ages, a late Empire coin of iron would have been worthless --whereas gold was still of great value.<br /><br />Mel Tappan used to talk of how a $20 gold piece from 130 years ago could still buy a good firearm or a nice suit of clothes --same as originally. That it's value in real terms remained constant.<br /><br />Many years ago my young son and I used to watch a TV show called "Forever Knight" -- about a coven of vampires who had lived for many centuries. Who in the course of their lives had watched several civilizations of Man rise and fall.<br /><br />I remember that when I watch the emotional arguments on US Internet political blogs. So many of the politicans betray their followers -- and will soon be dust anyway.<br /><br /> Imagine someone who ignored Richard Nixon versus George McGovern in 1972 and instead focused on acquiring 1 oz gold coins at $35 per oz. 1043 ncygionnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-80477754556422137302013-03-02T15:45:43.949-08:002013-03-02T15:45:43.949-08:00Good video. Martin Armstrong had something on the ...Good video. Martin Armstrong had something on the same lines recently. But it is funny to hear different people's interpretation. I agree more with you. He seems to think precious metals are not a great bet. But I tend to think 'at least it will always be worth something'. My wife's family have some stock in the Guantanamo Bay Sugar Company. I don't think they are getting their money back any time soon. If it would have been in gold or silver they would still have something to show for it.Anonymousnoreply@blogger.com