http://www.scribd.com/doc/53199489/Central-Banker-Email
I wasn't all that impressed by the cogency of the argument FOFOA used to convert Rick Ackerman to understanding that INFLATION is the most reasonable path (as in the path the Central Banksters will be *compelled* to follow) for the future. I feel my own observation -- that the value of Central Banking is IN THE FRANCHISE (the present value of FUTURE loans, NOT in collecting outstanding loans at value or more) and that a real deflation would necessarily collapse the franchise -- is more cogent. But whatever works!
However, this essay is another matter. It has logic chains which ... well, they simply must be thought about! And when you do, I think you will have a much greater understanding of international trade and economics in general. I know it pulled forward my thinking already and I have only skimmed it once! (Hey, it is 4 am my time right now!)
I've been holding back on moving a lot of cash savings into PMs because I can't help but think that gold isn't "cheap" any more and that there should "reasonably" be another buying opportunity likely 20%-40% cheaper in dollars.
But if the conclusion at the end of the Letter -- that putting all saving in gold is the only rational and moral choice (or something to that effect) is correct -- then I need to upgrade my thinking and actions ASAP! I already KNEW I shouldn't have savings in USD, but it seemed too "risky", conversion and tax inefficient, and inconvenient to store in metals. I was thinking of moving more to a foreign currency I viewed as "more" stable but concerns about how easily, in the recent past, that view has been turned on its head in a twinkling by CB "Central Planning" currency interventions was holding me back).
Now...I think I am going to have to reread this again, and probably again and again to really convert it to full understanding. And then, I need to consider what I am doing and why in continuing to hold paper currency in anything more than really trivial quantities or (in larger amounts) for more than *very* short periods of time (say a day or a few days ... just long enough to pay a tax or a bill).
In the mean time, please read this Letter and let me know what you think?
I have come to realize that men are not born to be free. Liberty is a need felt by a small class of people whom nature has endowed with nobler minds than the mass of men. -Napoleon
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