Topic: Gold and Silver
Terrorist Completes Ultramarathon! And Gold Hits New Highs! Starting in Kuala Lampur in the morning, and finishing in Shanghai at night, some dude manages to finish his first-ever multiple-country ultramarathon and shares his thoughts on the financial crisis and gold.by Jake Towne, the Champion of the Constitution
(libertarian)
Sunday, October 19, 2008
KUALA LAMPUR, MALAYSIA – A surfer "dude" somehow managed to complete an ultramarathon of roughly 28 miles in a 24-hour time period in two countries. Starting at 4 AM in the morning, he managed to finish roughly 7 miles in the morning on only two hours sleep. Asked how he managed to rouse himself after only two hours sleep, the runner commented that he used performance-enhancing drugs the night before. "I had some pureed "Durian" packets saved up for the morning, but I only awoke since I had a couple "Jackfruit" shakes the night before. [Jackfruit also has powerful aphrodisiac qualities.] I inhaled some "Nasi Lemak" on the plane; that really gave me a kick for the 2nd leg."
After passing out for the hour-long ride to the KL airport and most of the six-hour flight to China, the second leg of the run, twisted for roughly 5 miles through the Shanghai metropolitan maze of cars, bikes, moto, and crowds. [If you ever visit Shanghai just please remember that the buses don’t stop.] The runner made it to a friend’s home where more performance enhancers were imbibed to recharge. Julie’s-curry-recipe-but-made-by-her-maid and chapatti restored enough adrenaline for a 2-hour 16-miler to finish the day.
When asked why he did it, the runner replied that he just wanted to get in a little run before the long flight, but kept running in Shanghai to let off a little steam. Why?
"Well, it appears that "Government Sachs" has me listed on their terrorist watch list. I suppose it is no surprise, as multiple civil liberty violations passed by Congress and executive orders from Bush technically make most of my writings acts of treason, although this is complete bullcrap since just about everything I write about is based on the Constitution, which those bloody jokers swore an oath to obey. After sharing my name at my Nolan Chart webpage in early October for the first time, when I left my country of residence (China) for a business trip to Malaysia, my luggage was opened and searched right after check-in, which I had thought was a little weird since it was the first time this had ever happened, and I travel a fair deal. However, this morning I was more or less strip searched at the KL airport, and this probably was not a coincidence, although I suppose it could have just been a residual durian smell. They also took my EMPTY water bottle, saying I would not be allowed refill it on the plane."
"I would like to add that this financial crisis has everyone the globe over in a state of fear, but I am not scared one little bit of the oath-breaking Congress and the current and new POTUS, McBama. Government Sachs is teaching us that the past privatization of profits for corporations and bankers was perfectly fine, but now they made a really bad boo-boo since some skinny little geek invented financial derivatives and now all Americans need to slave away to help socialize losses for the bankers and corporations."
Asked what he wanted to do next, the runner said, "I just want to finish rereading Rothbard’s Case Against the Fed and the chapter on disaster capitalism in South Africa from Naomi Klein’s The Shock Doctrine before I pass out for the night. Sorry, I know I am way behind on finishing my Money Matrix series."
Just in case there is someone who hasn’t figured out what is going to happen next with the financial crisis...
"I can tell you EXACTLY what is going to happen 'after taking all relevant factors into account', because what is going to happen is the same thing that ALWAYS happens when an idiot government starts creating, or allows to be created, excess money and credit, which is that the money in question will expand and expand, and end up with zero purchasing power while gold, when priced in a currency that has no purchasing power, soars to infinite levels when priced in that currency, and that is what has always happened, anyway, and that is why I am 100% sure, dead-bang sure, no-doubt-about-it sure, can't-miss sure that it will happen again! Betting with gold against a fiat currency in the hands of politicians is the biggest no-brainer on the planet!"- The Mogambu Guru
"The role of gold in the monetary system is anchored in the U.S. Constitution. The Founding Fathers were no fools. They knew exactly what they were talking about when they insisted on a blanket denial of power for the government to monetize its own debt, or any debt for that matter. They knew perfectly well that a metallic monetary standard is the only effective prophylactic that can deny that power. The fact that the U.S. government never considered proposing an amendment to the Constitution to legalize fiat money is a telltale. Policy-makers could not muster the necessary moral courage to face counter-arguments in an open debate. Irredeemable currency has no integrity: the issuer is given privileges with no countervailing responsibilities. He is granted unlimited power in a republic based on the principle of limited and enumerated powers. The principle of checks and balances is thrown to the winds. These features are all alien to the spirit of the Constitution, not just to its letter." - Antal Fekete, PhD
"The American consumer is toast, done, finished." - Stephen Roach from Morgan Stanley investment bank. [Chinese Premier Wen Jiabao stated at the same meeting "Confidence is more precious than gold and currency at the moment." Although I do not have the Chinese transcript, this probably has the innuendo that both gold and currency are quite important, but not as important as confidence.]
"Can sound money give you financial security? There is something very comforting in knowing that what you earn today will retain its purchasing power in the years to come. Indeed, the same silver dime that bought a loaf of bread in the 1960's can still buy a loaf of bread with its precious metal content - which is worth about $1.00 today. An ounce of gold has always been about evenly exchangeable for a finely tailored men's suit, which these days is roughly $800. And in these days of fluctuating gas prices, when priced in gold, oil has been stable. Meanwhile, since the creation of the Federal Reserve, the fiat dollar has lost 94% of its purchasing power. The erosion of purchasing power rapidly accelerated when it was completely uncoupled from gold in 1971. This sort of fluctuation in the medium of exchange creates a lot of uncertainty in the marketplace and necessitates that you either take extraordinary defensive maneuvers, or face financial ruin.
"The bailout package that is about to be rammed down Congress' throat is not just economically foolish. It is downright sinister. It makes a mockery of our Constitution, which our leaders should never again bother pretending is still in effect. It promises the American people a never-ending nightmare of ever-greater debt liabilities they will have to shoulder. The claim that the market caused all this is so staggeringly foolish that only politicians and the media could pretend to believe it. But that has become the conventional wisdom, with the desired result that those responsible for the credit bubble and its predictable consequences - predictable, that is, to those who understand sound, Austrian economics - are being let off the hook. The Federal Reserve System is actually positioning itself as the savior, rather than the culprit, in this mess! There goes your country." - Dr. Ron Paul
"I believe in the same principle of freedom, of life without slavery. Our founding fathers fought and died believing in these very same principles. We must now ask ourselves the very same question that Adams, Revere, Paine and Washington asked themselves over 230 years ago - whether to live enslaved or to live and die as free men, as free women. I point out that if you never gave this question serious thought before, you might need to know that answer for yourself in the coming months and years. - Me, "Fight the Gestapo Tactics of our Congress, McBama, and Bush with Ron Paul and I"
"To wring your hands, moan about the government powers that be that will "bailout" and "protect" our financial system without believing and possessing honest money, primarily gold but also silver, is the hypocrisy of the weak." - Me, "Save Ron Paul's Voice - A Money Matrix Addendum"
"Only a crisis – actual or perceived – produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable." - Milton Friedman, 1982. [Too bad Friedman used this valid insight to enslave millions. What if it can be used to unenslave them?]
"However, if an economic crisis hits and is severe enough – a currency meltdown, a market crash, a major recession – it blows everything else out of the water, and leaders are liberated to do whatever is necessary (or said to be necessary) in the name of responding to a national emergency. Crises are, in a way, democracy-free zones – gaps in politics as usual when the need for consent and consensus do not seem to apply."
I also note that last week the price of gold per ounce hit all-time highs versus the Australian dollar, Canadian dollar, Indian rupee, South African rand, and British pound. James Turk also notes here that the gold price in Euro and USD are still in very strong up-trends. If you read this article in a year’s time, it is my belief that you will be gasping at just how cheap gold was per ounce in dollars in the midst of this crisis, $783/oz as I write.
That weirdo marathon guy described in the above overly-dramatized passage is of course me. What a strange day, had to write about it before I get obliterated by a Shanghai bus. Sorry if this article was a little disjointed but I suppose it was OK if you managed it to the end. Dismiss me as a kook if you wish but Go GATA!
"Contemplate the mangled bodies of your countrymen, and then say 'what should be the reward of such sacrifices?' Bid us and our posterity bow the knee, supplicate the friendship and plough, and sow, and reap, to glut the avarice of the men who have let loose on us the dogs of war to riot in our blood and hunt us from the face of the earth? If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains sit lightly upon you, and may posterity forget that you were our countrymen."
- Samuel Adams. Do not confuse with the beer. In my writings I refer to the mangled 4,798 dead bodies of our servicemen in Iraq and Afghanistan. I refer to the chains of the central banks and "Government Sachs."
The views expressed in this
article are those of Jake Towne, the Champion of the Constitution only and do not represent
the views of Nolan Chart, LLC or its affiliates. Jake Towne, the Champion of the Constitution is
solely responsible for the contents of this article and is not an
employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
Want to comment on this
article? Leave your comment here. Your email address is
required to track your comment. However, we will neither
publish your email address nor distribute it to other
organizations or persons. The only reason we might use
it would be if we needed to contact you regarding your
comment. All comments are subject to our
terms of use policy.
