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Pirate Poop #3 Exclusive to STR Marc
Faber: Gold Will Outperform Market Gary
North: Buy Silver or Gold? Alec
Hogg: Why You Gotta Have Gold Xinhua:
Michael
Pento: A Golden Life Preserver Adam
Hamilton: Gold ETF Impact “I
am a hardcore contrarian and the only way I want to own gold is
physically, in the form of national one-ounce coins in my own immediate
physical possession. While I think GLD is a great idea I have never
owned any and probably never will. For me gold is a physical asset I
control and the ultimate insurance policy against the always-possible
(but quite improbable) total systemic meltdown. In such a doomsday
scenario all paper gold will be useless or inaccessible at best and
physical [gold] will be all that matters.” “[GLD]
is not physical gold and will never replace it. It is a paper asset
designed to track the gold price and nothing more. It is not a
substitute for gold in your own physical control if you are a gold
investor. It is not designed for you if you are already a gold investor;
it is for your friends and family members who wouldn't buy a gold coin
if their life depended on it, but they may put a few percent of their
capital into a stock that tracks gold. GLD is for the mainstreamers, not
the contrarians.” Pirate
or Privateer? These
terms can be confusing if you mix time periods together. State agents
are classical pirates, because they take what they want by force.
Privateers of old were merely legal pirates working for the
State. The alleged legitimacy of the State magically transformed their
crimes of piracy into legal plunder, at least on paper. Modern
Pirates (as defined and used here) are A
critical distinction between Pirates and privateers is the use of force
to obtain what one seeks. Privateers of old used force, but Pirates
don't. This means Pirates are moral, noble, efficient, and effective,
unlike State agents. It also means that Pirates are not
privateers. Privateers
are State agents, Pirates aren't. This means that Pirates are free men,
unlike the privateers of old, who were subject to the State's terms of
employment. Failure to comply with the State’s terms of employment
made pirates out of privateers of old. Pirates
would never condone privateer behavior, let alone take part in it; it is
not in their nature as free men. Privateering makes one a slave (and
potential target) of the State, never a recommended move for anyone who
values their freedom and privacy. Pirates
ensure that both parties are satisfied with deals, while ensuring that
the State receives nada in the process. Privateers are State agents with
guns, but Pirates are businessmen with brains. This does not mean that
Pirates are criminals engaged in illegal activities; Pirates simply use
existing laws to their advantage. If you want to be a Pirate, you must
do your homework first. Don’t
forget: legal is an artificial construct and often an arbitrary
distinction that is beneficial only to State agents. It is also the
magic wand that State agents wave to transform heinous crimes into
socially acceptable behavior, using ink on paper. Pirates
live their lives; they do not obsess over ink on paper. A law is black
ink on paper; fiat currency is green ink on paper. Neither is
intrinsically beneficial. Pirates recognize this so they devise ways to
profit in spite of the State’s ink on paper. “The
American’s conviction that he must be able to look any man in the eye
and tell him to go to hell is the very essence of the free man's way of
life.” ~ Walter
Lippmann This
is a very nice precious metal website; it is very well organized and
easy to use, with plenty of useful information and great photos of
bullion coins and bars. Legal
tender laws and fiat currency are abominations, but legal tender coins
can be very useful. State issued bullion coins with a face value are
also legal tender. The face value allows bullion coins to travel across
national borders without the taxation or fees otherwise imposed by many
countries on bullion itself. If
you want a stash outside of the If
you have two stashes—one in the U.S. and one in Canada—both
containing Eagles and Maple Leafs, you can freely travel back and forth,
confident that the coins in your pocket are worth much more than
their face value, should you ever need to sell any, on either
side of the border. Recently,
a one-ounce platinum Eagle with a $100 face value had a sale value of
$1025; a one-ounce gold Eagle with a $50 face value had a sale value of
$562; and a one-ounce palladium Maple Leaf with a C$50 face value had a
sale value of $284. What
is the likelihood that a national border guard will ever give you any
grief for carrying legal tender in your pocket that is also coin of the
realm? Down
Days Buy
bullion coins on down days—even in a secular bull market—in an
effort to quickly cover the spread on your coin purchases, in addition
to paying less for each coin. JCN:
Who Becomes a Pirate? One
day you wake up and realize that everything is now strange to you;
nothing seems to make any sense. The moral code that was your compass
has been overthrown. The old heroes who were once admired are now
denigrated. Wrong is now right; what you thought was right is now wrong.
You view your neighbors as foreigners and the State as the enemy of all
that you hold dear; maybe you are now the foreigner. God is not
in his heaven and all is not right with the world; you are now a
stranger in your own land. You have three choices: convert, be viewed as an eccentric misfit, or become a Pirate. Being a Pirate often means setting out on a voyage to find a new home; it does not mean going to sea or becoming a thief. It means knowing where you are and knowing what you are looking for. Pirates seek a place to call home among other people who make sense to them. This requires taking risks and the path less traveled. It also means leaving many familiar people, places, and things behind in the process.
discuss this column in the forum Joe
Blow
is a
privacy advocate with proven subspecialties in strategic planning.
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