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“The system of flat currency, the paper dollar system, is based wholly on confidence. As long as there is confidence in the system, people will accept paper for their labor. The value of gold is not based upon confidence, it is based on 5000 years of acceptance of gold as cash, as moneyple will accept paper for their labor. The value of gold is not based upon confidence, is based on 5000 years of acceptance of gold as cash, as money.”

-Richard Russel

“You have a choice between trusting the natural stability of gold and the honesty and intelligence of the members of government. And, with all due respect for these gentlemen, I advise you, as long as the capitalists system lasts, vote for gold.”

-George Bernard Shaw

“Despite gold recently reaching a new all time high above $1,200 per ounce, gold’s high in 1980 of $850 per ounce adjusted for the CPI Index equals $2,455 per ounce in today’s dollars. Once you account for how the CPI understates uibflation, god’s high in 1980 was $5,265 per ounce in today’s dollars.”

If you account for the real rate of unemployment and the real rate of inflation, pain & misery in the US is now approaching Great Depression levels.

“We have been gullible enough to believe that mankind is smart enough to orchestrate just the right monetary policy to steer economy through optimum growth by magically lowering interest rates (which means creating money from nothing) and that by doing that, bailouts can occur indefinitely without consequence . . . and with the economy in decline, even as debt grows, this is a process than is beginning to feed on itself so that a process of ultimate economic suffocation is underway. Debt is being created at an ever increasing rate of speed and that rate of speed is much greater and is growing exponentially, while income, from which to service that debt, is growing in linear fashion if at all.”

-Jay Taylor


“The most dangerous threat to the American economy is the bulging mountain of consumer debt, which is the knife poised at the heart of America.”

-Howard Ruff

“I think the bottom is still years into the future. Perhaps it will take a decade, depending on how events unfold at the margin in the months and years to come.”

-Leo Hood

“Don’t panic,” How many times have you heard that since the markets started to crumble in 2000, only to see the impetus for panic grow?”

-Bob Bishop

“The word is in the grips of a synchronized global economic downturn.”

-Kurt Richebache

Grandfather Economic Report, http://mwhodges.home.at.net/