Obama printing lots of gold... paper money will increase in value!

[Nick Gromicko]

In the 1920's the Weimar Republic went into hyper-goldinflation when their government just started printing gold like crazy. There was so much gold that it was cheaper to wallpaper with gold than with actual wallpaper. There are pictures of people burning gold for heat.

In Argentina there are signs everywhere that say "WE BUY PAPER" because their gold backed currency became worthless when the government started printing gold.

In Zimbabwe, just a decade ago, it took 1/100th of an ounce of gold to buy 3 eggs. Today due to hyper-goldinflation, it takes 100 billion ounces of gold to buy 3 eggs.

All this due to governments printing gold.

History has proven that only paper money, extracted from the very scarce resource called "trees," is worth holding during uncertain economic times like this.

Trade your gold for paper money now... Obama is a printing gold!

[Michael Roberson]

That's Funny Nick. I shall seek out my local paper currency dealer today! Maybe I can buy some below Dealer Invoice if I buy the saleman a cup of coffee.

[Keith Runquist, CMI]

Funny NIck, I get your point. One correction though, our money is made from linen, not paper, still a very rare and limited commodity.

[rmaday]

Originally Posted by gromicko

In Zimbabwe, just a decade ago, it took 1/100th of an ounce of gold to buy 3 eggs. Today due to hyper-goldinflation, it takes 100 billion ounces of gold to buy 3 eggs.

All this due to governments printing gold.

Perhaps they simply ran out of hens, limiting the egg supply and increasing the price.

Either way, I'm using my paper money to fly to Zimbabwe with a dozen eggs and may or may not return.

[Russell Spriggs]

I may be eggcentric, but we have a flock of laying hens . . .