Tracking Gold’s Rise Against Faux Money and Fiat Currencies

04/06/11 Buenos Aires, Argentina – Gold $1,460…Oil $109 (Brent $123)…Dow 12,400…

Good Golly…what isn’t going up?! Commodities…equities…monies. They’re all on the march.
Yes, you read that right, Fellow Reckoner. Money is going up too. It’s going to the moon…and back. We mean real money, of course…not that flim flam fiat junk the Feds pass off as cash. We’re talking about gold. Gold and, to a lesser extent, silver. Look above at that first number again. Quite a bit higher than the $1,150 per ounce the Midas metal fetched a year ago, eh? Or the $650 it went for five years back? Or the $250 mark, where it started the new millennium.
[Silver, by the way, has performed even better. As we write this morning, an ounce of gold’s perennial bridesmaid is just a few dimes shy of $40 per ounce...quite a ways from the $5 per ounce at which it began the millennium.]
And all this while the naysayers were out with their…well, naysaying.
“Gold has no industrial use,” they said. “It is a relic of the past…a ‘barbarous’ throwback to a bygone era.”
Leaving aside for a moment the fact that gold does have industrial uses (albeit in a relatively limited area), the fact remains that gold’s primary function in an economy is as money, not as circuitry, dentistry or other.
Why? As Aristotle explained more than a few years ago, gold is the best money because it exhibits the necessary characteristics that make an acceptable money more so and better than any of the known alternatives. That is, it is durable, divisible, consistent, convenient, and has value in itself. In our time, as in that of the Ancient Greeks, we have come across no more reliable store of value, no superior medium of exchange, than this simple, humble, nobody-else’s-debt metal. While substitutes are invariably debased, debauched and devalued, gold mostly just keeps to itself, watching with amusement as the government-issued paper currencies commonly used to measure it dance in the wind, whimsical as the empty political promises that back them.
As Doug Casey explains, “The paper we use today is a medium of exchange – it got that way because governments made it illegal not to accept it – but it’s not a good store of value. And it’s rapidly and radically becoming less of a store of value. What we use as money today is actually not money; it’s currency. Technically, that’s simply a word that indicates a government substitute for money.”
So yes, gold is up…as measured in dollars. More correctly, substitute money is down…and headed much lower before this plays out once more as it always, everywhere does…
Joel Bowman
for The Daily Reckoning
 Joel Bowman is managing editor of The Daily Reckoning. After completing his degree in media communications and journalism in his home country of Australia, Joel moved to Baltimore to join the Agora Financial team. His keen interest in travel and macroeconomics first took him to New York where he regularly reported from Wall Street, and he now writes from and lives all over the world.
View articles by Joel Bowman The articles and commentary featured on the Daily Reckoning are presented by Agora Financial.

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RFID Tracking of Your 'Rationed' Food Coming Soon!

Isn’t technology wonderful? Don’t you just love all those advances to ‘help’ you in your ever increasing drudgery through the daily minutiae of life? ~ Neil Foster

Wouldn’t it be wonderful if all those little tasks you used to have to drearily do every day could be solved by some electronic gizmo?

Your mobile phone keeps you in touch with your friends and them in touch with you at the press of a button.

Your X-Box can have you mind-numbingly entertained whilst you’re playing with your friends on the other side of the world, you know, those ones you’ve never met, without having to leave the comfort of your electrically heated leather sofa.

Or how about that Sat Nav that tells you where you’re going in any voice, with any accent, of any celebrity of your choosing just to make sure you don’t get slightly lost or are too blind to read road signs or even a map in which case you shouldn’t be driving!

When you lose little Johnny in the supermarket that convenient chip you had injected into him will help you track him down in the confectionary isle where you probably knew he was anyway as you get a text alert to warn you he’s more than 10 meters away.

My my, you really must be short sighted in which case you’ll never be able to read the small print on the food packaging but nevermind, the food’s perfectly good for you because your government says so.

But, what with one thing and another, you won’t be too worried about reading the labels on food packaging. You’ll be more worried about finding food on the shelves at all if the predictions of food shortages are anything to take seriously. But surely not eh?

Nevermind though, if it happens help is at hand in the form, of I’m sure, a very affordable RFID tracker refrigerator.

http://www.rfidnews.org/2011/03/23/terso-launches-new-rfid-refrigerator-for-hospital-inventory-management

This will help you save food and discard any that’s gone a second out of date, giving you notice, as this information is transmitted to the fridge RFID reader by the RFID chip in all your food packaging and storage containers.

It will ensure that once you’ve located little Johnny in the deep, dark recesses of his bedroom video game emporium and sit him down for dinner, that he’ll be eating only the most sell by date conscious genetically modified junk food that mummy can buy with her fantastic new implanted RFID consumer control chip.

The problem with this is that the whole point of rationing is that you’re only supposed to have your ‘share’ of the food supply in carefully calculated amounts under the pretext that there will be enough of a minimal amount to feed everyone in society, excluding those handing out the rations of course who will be sumptuously well fed as real poverty, under the guise of austerity, is imposed on the rest of us.

So you’ll have this high tech refrigerator which can tell if you’ve kept food a second too long or indeed if you have extra food in your fridge which you acquired, by whatever means outside the use of cash which will no longer exist at this point in time.

You will have to explain to the local community inspector when he bangs on your door to demand access to your fridge to assess what extra food you have in it.

You see, the fridge will have alerted them too done at the local soviet council office taking whatever punishment they deem necessary like cutting your food ration even further to punish your indiscretion.

The step on this road is that you will then have to try to explain how and where you acquired the extra food, without cash, without access to external sources beyond those rationed to you. You see, the food rationed to you will be in a way ‘means tested’.

You’ll be regularly weighed, as will your children and any others living in your meager home, with food being rationed to you on its calorific value to keep you just about fit to work without giving you too much in the form of excess energy with which you may be able to indulge yourself in a leisure activity.

You’ve got to grasp the reality that you’re only going to be fed to enable you to work for a certain amount of hours, for a certain amount of days, for a certain amount of weeks, months and years until you are of no use to the system.

What happens to you at that point is anyone’s guess.

But never mind, that’s all conspiracy theory isn’t it?

Are you willing to take the chance or will you finally understand that you’re paying for your own electronic slavery shackles?

Neil Foster - March 25, 2011 - SovereignIndependent

Submitted by SadInAmerica on Sat, 03/26/2011 - 9:09pm.

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