OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

a happy, healthy and prosperous New Year !

You can’t go wrong by holding something of value in your hand.  For some reason, Bitcoin reminds me of the tulip mania.  In any case, my intuition bids me stay away.

“It’s Corruption On Steroids” – A Look Inside The El Monte, California Public Employee Pension

A look inside the El Monte, California public pension where a former City Manager, Harold O. Johanson, approved a 50% increase in his retirement package then retired 3 years later drawing $250,000 per year from taxpayers.  One city resident summed it up nicely: “They are just slopping at the public trough. They’re taking advantage of the system.”

I know Bitcoin is a great alternative to cash but the ability of the scum to shut down the internet – especially in China – should be of concern to all Chinese. No clue why they’d trust anything virtual. Maybe I’m the idiot by only trusting what I can hold in my hand?

Bitcoin Soars Above $1000 In China

2017 is off to a good start if you are holding Bitcoin as volumes continue to surge through Chinese Bitcoin exchanges amid fears of increased crackdowns on foreign exchange transfers in the new year. In the last 24 hours, BTC China has seen prices spike above 7,100 yuan (well over $1000 at the onshore rate exchange).

On January 1, 1975 American citizens are allowed to own gold again. Gold is $194 an ounce, silver $4.44.

Pretty much the cost of most basic things in life from the mid 1970s are higher by a factor of 10 to 20 times more than that era. (15-20 times more likely ball park) Think about it. Your house, property taxes, new cars, cup of coffee etc.

Some things like a newspaper that was .05 cents is today $2. That’s a factor of 40 nickels.  Cigarettes’ were .25 cents, today $10, that’s 40 quarters or 40 times more.

Gold today at $1152 (harder than ever to find) from $194 in 1975, is not even 6 times more. $194 times a factor of 15, means the “natural”  gold price should be $2910/oz. On the low side $1940, high side $3880/oz.

Now that its obvious to see all things are going in reverse, perhaps Gold will be allowed to be valued naturally.

http://www.maguireref.com/wp-content/uploads/2012/03/GoldPricesChart.pdf

Apparently my igloo is warmer than Buygold’s dacha.

pass me another turnip…

https://www.youtube.com/watch?v=HVAI07f-5M0