What Is Real Money?

Tue, Mar 4, 2014 - 8:08am

Our friend, David McAlvany, has produced another excellent video. This one deals with money and why gold and silver are considered as such.

Much of this may be common knowledge to the average Turdite. However, it's still worth watching because:

  1. You might learn something you didn't already know
  2. You might like the video enough that you c&p the link to family and friends

So, here you go. Enjoy.


About the Author

turd [at] tfmetalsreport [dot] com ()


Mar 5, 2014 - 11:51am

maybe that scenario depends

maybe that scenario depends on the motives of the mainstream media. If they choose to hurt bitcoin encryption a lot of other collatoral damage will be done to other systems which also depend on encryption. It maybe that mainstream media prefers to keep nsa ability to crack encryption as far out of the public eye as possible.

Appreciate the debate by the way, cheers for that link, like i say found it very interesting.

Mar 5, 2014 - 10:18am


Your bitcoins may be safe, but the value of them will plummet when news gets out that the wallet encryption can be hacked, and some examples magically appear in the MSM.

Confidence will drop like a stone, as will the dollar value of your coin.

It's coming. I don't think we're close to this yet, but I'm sure it's coming.

Mar 5, 2014 - 7:59am

Interesting McAlvany video

But to be fair, he doesn't even mention silver until about the last 2 minutes of the video. It's all about the gold. Food for thought.

Mar 5, 2014 - 3:59am


just watched that video about how encryption can be cracked. Very interesting. I can see how they could maybe crack anyone they want (assuming almost everyone is using the spoon fed values of P and Q). But how hard could it be for some bright sparks to produce a whole new set of P and Q values and open source software to start using it instead?

Regardless they still cannot crack everyone all at the same time if everyone is encrypted. To crack one or two important people like Angela Merkel or whatever yes they could but if everyone starts using encrypted communication they will lose sight of everything. That includes other snooping big data companies like google. Not sure what it will take for everyone to start taking it seriously and actually encrypting their communications though.

They wouldn't employ their resources to go after my measly little bitcoin stack, big exchanges and silk road type opearations on the other hand. I still think my bitcoins are safe

Mar 5, 2014 - 12:59am


Thx, for the new Caravan to Midnight links.

Mar 5, 2014 - 12:22am

Caravan To Midnight...episodes 14 & 15...

are up for John B. Wells fans to listen to!...

Video unavailable
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Bag Of Gold

Mar 4, 2014 - 11:26pm


I agree with you. I have to be honest, I find the eagle to be boring. Great, yeah, I have some eagles along with millions and millions of others that look just like mine.

I think it makes sense to buy coins that have limited runs, but you can pick up when they first come out for a few dollars over spot. I have some of those 25th anniversary maples, and a lot of stuff from Perth mint. Perth Mint, IMHO, makes the nicest coins in the world as far as bullion coins are concerned, with the noted exception of this years Koala, which is just about the ugliest coin I have ever seen. I also like the Canadian Wildlife Series, the 5 oz. ATB's, and I like the Somalia elephant coins.

In the process of stacking, I guess I became somewhat of a coin collector, and I also believe in diversifying my silver stack. The problem you run into, is you don't want to get rid of them when you should. It seems to me that the best thing to do with, say, my 2004 Panda, would be to sell it and pick up 4 oz. for the 1, but I like it.

Especially at these prices, I think it makes sense to spend a few dollars more on a coin. Of course, that is probably an easier decision when I am buying 5 or 10 coins at a time than if I was buying monster boxes, but I just don't face that dilemma.

Good Luck with your picks!

Mar 4, 2014 - 11:00pm

Coins from Perth MInt...

"US Mint grade silver eagles will be the most sought after bullion coin ..."

This is a new game for me, I'm not claiming to be a savvy investor, but I am using a different strategy. I am not buying any Silver Eagles. I am buying bullion coins (from government mints) that have limited runs. Yes, I am paying a few dollars over spot but, I expect price to rise and know that is the least I will receive ... if I choose to sell.

Looking at some previous issues, there has been significant price move on some of these coins:


I have a bunch of the 2 oz horses and I think they will be very popular! (In any case, I really like them!)

I really like this one: https://www.ebay.com/itm/2005-Australian-Lunar-1-Oz-Silver-Rooster-slx24...

kind of crazy for animals. I won't go back and purchase the older coins, anyway, there are always new ones coming out...

I think I paid a little less than $2 over spot for these: https://www.ebay.com/itm/2013-CANADA-SPECIAL-1oz-SILVER-MAPLE-LEAF-25th-...

Just my two cents, for whatever it is worth...

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sierra skier
Mar 4, 2014 - 8:16pm

Tuilving Orders

Over the last 5 years I have ordered through Tulving many times. My first orders were usually delivered in 2 weeks or less, but as time went on it seemed my last several orders began to take longer and longer to arrive. My last order just less than a year ago took a full month or possibly more.

With the minimums Tulving has that is a lot of cash to have out for a long period (at least for me) of time. My last order was double their minimum on ASEs. With seasonal monies that I receive every fall I was tempted to buy but something held me off. I more than likely would have been one of the victims if I had placed and paid for that buy.

My question is , is Tulving just the first in a cascade of falls buy the industry or did Hannes just fail because of his methods.

Regarding Bitcoin,,,,, NO THANKS. In my view there is nothing to support Bitcoin or other crypto currencies except 'tulip mania' and I do not wish to give up any of my precious resources to the speculative likes of any of these 'crypto currencies/commodities',,, or whatever they are. To be true currencies they have way too much volatility and therefore fail to be a real store of wealth. Good luck to those who wish to play with the devil. I know that Bitcoin has never been hacked,,,,, but there is sure a lot of fraud involved with the exchanges handling them.

Better to stop here before I rant on.

Mar 4, 2014 - 7:53pm


Yes, it seems these backdoors are everywhere.

I posted here some time ago - and mentioned it again more recently again after a documentary followed the recent years of work as a HFT trader (Haim Bodek) and his revelations about rigged HF trading that he'd seen - that another programmer who had direct knowledge of these backdoors (ie he worked on putting them in place within software, although he didn't actually say it was him) was found dead a few weeks after a documentary was shown on UK TV about backdoors in normal everyday software including operating systems. He was in his 30's and appeared perfectly healthy. I linked to a news article about the death, but haven't been able to find it since then.

All these crypto-currency hacks fall into place now. There are backdoors by default, it seems.

Makes a lot of sense to me.

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