I was playing along and almost agreed, until I took a second to think about it. In the USMC we were typically paid cash and the sidearms were present. Later I was payed cash in an envelope every week.

Now I collect physical metal. Most of my friends collect FRNs in electronic accounts.

Read the post. I’m not going back 30 years. last 8 years. If you want to discuss how undervalued and suppressed the PM’s are right now, that’s a different topic. Gold and silver have NOT topped. Where do you get that? Harsh words? Marty O talks out of his a** so you blast me? Get real. You sound like Prechter.

There doesn’t seem to be anyone that will escape this global problem. Thats why I will stick to my long established view that deflation will hurt all holders of any commodities (with the exception of major supply issues).

Very nice post, which also brought up memories of working at my fathers drug store in the 60’s and doing payroll out of yesterdays cash receipts/deposits. The cash salary, after deductions, was then put into a little pay envelope, including the change and handed out to the employees on pay day.

I also enjoyed your wide angle assessment which included the image of “soft bodyand softer hands”. Very poetic. Americans, in particular, have difficulty in realizing how good most have it, because they most often compare themselves to each other, instead of the rest of the world. It’s an easy trap to fall into.

It’s inevitable that at some point, the pendulum swings back to the mean and a preview of the depth of that swing can be glimpsed by viewing the bigger picture. Getting lost in illusion about where we feel entitled to be, instead of seeing historical and current world wide conditions hinders our chances at preparing for the future. The adjustment coming to most people in this country will be epic.

Thanks Rick, for providing a forum where insightful ideas like OP can be read. cp

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ahegQQCnLVyo

If three month treasuries are in a negative interest rate policy, then for certain negative overnight interest rates are called for. The FOMC has not changed its rate, but the longer negative rates go on, the more the pressure will be to enter into ‘real’ Quantitative Easing with negative rates.

Negative rates are a positive risk benefit to gold as a store of value.

Many of us are blessed with, let’s face it, cushy jobs in air-conditioned offices, with a very high ratio of salary “earned” to calories burned. We have all the modern conveniences and have a standard of living way above most people on Earth.

As Mr. Cohen points out, the public hasn’t “gone crazy.” Tupper-gold parties are much more popular than gold investment seminars.

Once the next major financial crisis strikes, many of us with soft bodies and softer hands will watch our electrons of fiat wealth quickly evaporate in value and availability. We will envy those who felt their silver certificates and silver coins in their hardened, calloused hands after a hard week’s work.