Remember when a penny was worth a penny? Well, that day may be coming again soon. And that in spite of the record level of fiat festivals going on around the world.
http://www.zerohedge.com/news/chinese-copper-inventories-revealed-be-double-estimated
Read the comments for possible benefits to many of us here.
What's a penny worth?
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What's a penny worth?
by shinnosuke » Wed Oct 12, 2011 3:07 pm
When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them... (Thomas Jefferson)
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shinnosuke - Super Post Hoarder
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Re: What's a penny worth?
by 68Camaro » Wed Oct 12, 2011 4:20 pm
It is hard to believe much of anything these days. Everything has spin on it. People, organizations, nations, are being manipulated, and even the manipulators are being manipulated.
Bottom line is that I'm putting my greatest belief, for things on this earth, in things I can hold and touch... Family, property, and commodities.
This might positively affect silver.
If it negatively affects copper, I don't care if the Cu penny goes down to 1x face, I'm still hoarding them and adding to them, though if price cuts continue at some point eventually the buying and selling of cents would be affected.
Bottom line is that I'm putting my greatest belief, for things on this earth, in things I can hold and touch... Family, property, and commodities.
This might positively affect silver.
If it negatively affects copper, I don't care if the Cu penny goes down to 1x face, I'm still hoarding them and adding to them, though if price cuts continue at some point eventually the buying and selling of cents would be affected.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
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68Camaro - Too Busy Posting to Hoard Anything Else
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Re: What's a penny worth?
by John_doe » Wed Oct 12, 2011 10:13 pm
68Camaro wrote:It is hard to believe much of anything these days. Everything has spin on it. People, organizations, nations, are being manipulated, and even the manipulators are being manipulated.
Bottom line is that I'm putting my greatest belief, for things on this earth, in things I can hold and touch... Family, property, and commodities.
This might positively affect silver.
If it negatively affects copper, I don't care if the Cu penny goes down to 1x face, I'm still hoarding them and adding to them, though if price cuts continue at some point eventually the buying and selling of cents would be affected.
I would rather have it than a peice of paper anyday.
Ancora Imparo
"You can't control the wind, but you can adjust your sails."
-Albert Einstein
"You can't control the wind, but you can adjust your sails."
-Albert Einstein
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Re: What's a penny worth?
by Sheikh_yer_Bu'Tay » Thu Oct 13, 2011 12:56 am
How did the Chinese get so long on copper? They bought it. What did they buy it with? FRN's. If you had trillions of FRN's going south on you, you would have done the same thing. So, what's the big deal? This was predicted by many at least 1.5 yrs ago.
It was also predicted that the Chinese would have to re-tool after the Western world stopped buying their electronic do-dads and pay down debt. The Chinese would then have to internalize their manufacturing sector to build for an internal market. The Chinese themselves will now buy what China makes. This does not happen overnight. Give them some time, that surplus of copper will be used up before you know it.
It was also predicted that the Chinese would have to re-tool after the Western world stopped buying their electronic do-dads and pay down debt. The Chinese would then have to internalize their manufacturing sector to build for an internal market. The Chinese themselves will now buy what China makes. This does not happen overnight. Give them some time, that surplus of copper will be used up before you know it.
When I die, I want to go like Grandpa did. He died in his sleep..... Not screaming and hollering like all the passengers in his car.
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Sheikh_yer_Bu'Tay - Super Post Hoarder
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Re: What's a penny worth?
by shinnosuke » Thu Oct 13, 2011 1:18 am
Sheikh_yer_Bu'Tay wrote:How did the Chinese get so long on copper? They bought it. What did they buy it with? FRN's. If you had trillions of FRN's going south on you, you would have done the same thing. So, what's the big deal? This was predicted by many at least 1.5 yrs ago.
It was also predicted that the Chinese would have to re-tool after the Western world stopped buying their electronic do-dads and pay down debt. The Chinese would then have to internalize their manufacturing sector to build for an internal market. The Chinese themselves will now buy what China makes. This does not happen overnight. Give them some time, that surplus of copper will be used up before you know it.
I agree. When you have a billion people buying stuff, they go through it like Ryedales go through zincolns.
When in the Course of human events it becomes necessary for one people to dissolve the political bands which have connected them with another and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them... (Thomas Jefferson)
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shinnosuke - Super Post Hoarder
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Re: What's a penny worth?
by 68Camaro » Thu Oct 13, 2011 4:18 am
Edit typo...
Yeah - it's hard to picture an economy that has 3 billion people consuming even at a fraction of our level.
Yeah - it's hard to picture an economy that has 3 billion people consuming even at a fraction of our level.
In the game of Woke, the goal posts can be moved at any moment, the penalties will apply retroactively and claims of fairness will always lose out to the perpetual right to claim offense.... Bret Stephens
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
The further a society drifts from the truth, the more it will hate those that speak it. George Orwell.
We can ignore reality, but we cannot ignore the consequences of ignoring reality. Ayn Rand.
-
68Camaro - Too Busy Posting to Hoard Anything Else
- Posts: 8374
- Joined: Thu Dec 30, 2010 6:12 am
- Location: Disney World
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