The Walking Dead = Metaphor of the Failing Western Fiat Currency Scheme

Tue, May 31, 2016 - 11:48am

I’ll admit it. I love The Walking Dead. I even have some bobble heads of the characters that I picked up from Barnes and Noble. But, what is the fascination with the goo-oozing zombies, the apocalyptic US South, the certainty of doom and miserable, painful death haunting each character, every single show?

I finally figured it out!

The Walking Dead IS a metaphor of the Western fiat currency scheme, and the similarities make it a perfect propaganda tool to control the masses and show the futility of resisting one’s certain, doomed, fate.

Let’s peel back some layers!

The Collapse Scenario

One of the protagonists, Rick, is a local police officer. He, along with his partner Shane, are introduced as typical law enforcement officers, in a sleepy, small town setting in the rural country side outside of Atlanta, Georgia.

One day on patrol, Rick and Shane encounter some bad guys. Rick gets shot, and ends up in a coma at the local hospital.

While in the coma, the region is under siege by a strange outbreak, afflicting thousands with fever, then death. However, upon death, the person turns into a zombie–not really dead, and not really alive. These zombies exist by consuming flesh of the living. They are driven by primal instincts. We learn later that the zombie infliction is something that every human being carries, that becomes activated upon a scratch or bite from a zombie. We also learn that the zombie condition is caused by basic, core brain waves of a primal nature, driving the zombies to loud sounds, and all they do is forage for protein to consume. They do nothing but feed on the living.

The Setting

The rural south, the urban city of Atlanta, small towns, farms and roads, all feature prominently as settings. Later seasons of The Walking Dead feature more industrial, foreboding environments, like a prison that turns into a secure, safe facility, a small town with perimeter walls, and a planned, self-contained community.

As each season unfolds, the episodes reveal the survival mindsets, strengths and fallacies of the survivors, like our current "preppers" and their strategies, played out in various conflicts.

The Characters

As expected, such a compelling show, enjoying sensational ratings over several seasons, displays deep, and lasting character development coupled with incredible storytelling and drama.

The human condition is on display, in all its forms. Good, bad, evil, name it–it is all there for the viewing.

It is a perfect canvas for storytelling of the fiat collapse scenario. But, am I just seeing it that way because of my time here on tfmr? Is it a fair, and inescapable conclusion that we are slowly being taught what to expect when the currency fails?

The show’s main characters from the beginning are not all there anymore. Some key cast members have met a gruesome fate. They have been killed off, often violently, painfully, some with malice, some by stupidity, some just by chance. Some were killed by zombies, while the show makes a constant point that human beings are more dangerous than zombies.

No one is safe. Death can come at anytime.

The show highlights critical thinking, and emphasizes good decision-making. Time and time again, certain characters fall victim to impulse, and are killed. Many times, the weak among the characters, have their weakness exposed, exploited, to make a point, and are killed in gruesome fashion. There is evil, and there is just survival, and the show makes it clear that death from evil only comes at the hands of human beings, never zombies, who are merely following their base instinct to survive.

The main protagonists, Rick, Daryl, Carol, Glen, Maggie, Machon, Morgan, each with their own flaws, seemingly overcome the dire nature of their predicament, week in and week out. Other characters have come and gone. Race, age, gender, background are irrelevant, as all of them face the same challenges.

The commonalities among the survivors must be examined. To a person, they all share the following traits: they are critical thinkers, strong willed, emotional, caring for the greater good, and motivated beyond all reason to perpetuate their pitiful existence, even in the face of impossibly grim odds.

They all suffer from PTSD, yet seem to survive and not succumb to fatalism. Ones that did, are dead, usually eaten by zombies. Evil ones tend to get killed by humans.

There are some agitators. The very first one, Rick’s law enforcement partner, Shane, sure started out as a good guy, but his internal flaws revealed themselves over time. This was a eye-opening moment, as it showed even the perceived “good guys” are prone to fail under the exact same pressures that everyone else faces, and just because of someone’s title, or position, or one’s perception of them, not all is what it seems.

At the beginning, a poorly educated, socially disadvantaged character, Daryl, demonstrates strong anti-social behavior toward the group. His loyalty to his brother, left for dead by self-appointed new leader, Rick, turns out to ignite fierce internecine rivalry and conflict, which simmers throughout the seasons.

There are various evil leaders, all charismatic, but rotten to the core. Rick and his group outwit them all, losing some members along the way. The lessons here are that things are not always what they seem. By season four, the characters are all seasoned warriors, bound by common struggles, and a strong sense of demonstrated loyalty. Each of the characters has a role. There is a sole leader, who solely makes decisions, good or bad, which the group lives by. Others provide guidance and counseling to the leader, to provide a sound, wise basis for decision-making.

The lesson here, unmistakably so, is that survival situations can, and do create strange associations, with inherent conflict about roles, decision-making, and basic survival. The message is that only the strong survive, and the strong-willed had better have a sound, moral leader, or else they will be doomed to death.

The show has plenty of weak characters, too. Many are shown for their internal inability to handle any conflict. Young, old, weak, they all get eaten. Many become delusional, and go crazy. They all die, except one, Morgan, who comes back from his mental state through the guidance of a psychiatrist Morgan stumbles upon. Eventually, Morgan reverts back to his killing ways. What lesson did that teach? Sanctimonious, moral puffery is just that–it gets one killed or eaten in short order.


The show compels the dire conclusions among the living that weakness in the form of non-critical thinking, naked hope without solid planning and action are doomed.

As for the zombies, the realization came to me that they are truly the representation of the masses, as seen by the elites! They are all faceless, nameless, useless eaters. They are easily controllable. All it takes is bread and circuses due to a simple hard-wired, primitive instinct, easily manipulated. Does this not come to mind right here in the USA? Look at the bread and circuses, like 10 hours of free tv programming, on average, consumed by USA denizens, the free-shit army of takers, and the absence of any real critical-thinking, on any level.

Even the universities are beset by millenials, bent on getting their safe-space to express themselves, having been coddled by their baby-boomer generation parents who are now aging up, becoming dependent upon the state for medical care, shelter, food, the works.

With regard to money and currency and gold, all of these concepts are lost on the masses. Not one person in a thousand knows what constitutes “constitutional” money. [“The constitutional dollar in the United States is an "historically determinate, fixed weight of fine silver." The Coinage Act of 1792 is but one source among many that makes this evident, reading, "the money of account of the United States shall be expressed in dollars or units … of the value [mass or weight] of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure … silver. The United States has a legal and constitutional silver standard, although we would not know it today, since the government has illegally and unconstitutionally removed silver as currency and replaced it with the Federal Reserve notes that we know as dollar bills. The term "dollar bills" obscures the actual and tangible meaning of "dollar" as a specific weight of silver. The United States has historically minted gold coins as well as silver coins, as the constitution instructed. It regulated their "value," the weight of gold they contained, in order to bring the meaning of a gold dollar into conformity with the silver standard coin, which contains 371.25 grains of pure silver. This too was constitutionally mandated. The overnment did the same for foreign coins up until 1857. The United States never was or could be constitutionally on a dual standard or a gold standard. It circulated silver and gold coins as media of exchange by adjusting the content of the gold dollar to a silver-standard dollar. For example, the Coinage Act of 1792 authorizes "Eagles — each to be of the value of ten dollars or units [i.e., of ten silver dollars], and to contain two hundred and forty-seven grains, and four eighths of a grain of pure … gold." Since the dollar contained 371.25 grains of silver, this brought into legal equivalence 3712.5 grains of silver and 247.5 grains of gold. The ratio was 1:15. In the Coinage Act of 1834, Congress adjusted the gold eagle: "Each eagle shall contain two-hundred and thirty-two grains of pure gold." This brought into legal equivalence 3712.5 grains of silver and 232 grains of gold. The ratio was 1:16. The reason for the change was that gold had appreciated in market value relative to silver.”]

So, in our society of today, the ignorant masses, unaware that their existence depends upon their very ignorance about constitutional money, have no understanding why their paper dollars buy less and less every single day. They watch their tv, they have discourse over their carefully programmed mass propaganda events [right vs. left, democratic vs. republican, etc.], all the while having no understanding that their existence is but primitive.

The elites control it all–except for extremely small groups who exist with knowledge, but which are too disconnected from one another to have any power over the elites or the dialogue at all. These small groups are like Rick and his followers. They survive, with knowledge of what really exists. They have no illusions, they are realists. These small groups believe in the time-tested protection of gold and silver, of constitutional money, of sharing knowledge to anyone who will listen. They–we–are survivors.

In real life, the zombies are everyone who still believes in the status quo, the western fiat currency model.

The Walking Dead is an awakening call for those who can hear. It portends the future, when the currency fails. It shows group dynamics, it shows decision-making, and the consequences of such decision-making, right or wrong, good or bad. It destroys popular survival myths, and demonstrates with some accuracy the reality of a world without western fiat currency hegemony, and what the living circumstances could be like in a collapse scenario.

Perhaps I am just putting too much emphasis on discrete messages from the show, perhaps not.

What I do know is that to properly prepare for whatever comes along, the concepts of critical thinking, group dynamics and survival scenarios all deserve careful study.

It is not too late. One’s fate is not permanently determined. One can choose. It is well past time to wake up.

Prepare accordingly.

About the Author


May 31, 2016 - 12:40pm

Thanks CL!

We appreciate you filling in for the Boss while he is off on vacation!


P.S. (Edit) and a First ... it's been a while.

May 31, 2016 - 12:55pm

I hate Zombies/ zombie movies.

They are endothermic. Sadly, it seems as though the current monetary system is also endothermic.

I do love the hell out of Left For Dead 2. :)

May 31, 2016 - 1:09pm

Very descriptive. Might I add

I just got done watching all six seasons from start to finish. I had tried to ignore this show, but atlas I fell to its calling and ran the marathon of seasons to the end.

Like you CL, I was overwhelmed with "similarities" to what I call the Walking Dead amongst us. I even show my kids the living zombies that exist like so many roaches that scurry along in front of us. So many "brain dead" living a "dream!" All I can do is shake my head and wonder just how many of these zombies will die and how many will devour the living when economic turmoil upends our way of life....

Anyway, totally get the whole interpersonal dynamics with those who think they know, who do know, those who don't want to know, and those to blind to know.

As someone who is trying to "be prepared" for this impending zombie attack; watching the show really opened my eyes to just how hard it will be to maintain what you do have regardless of how hard you try and hide from the "herd" that will ultimately find you. Also, the idea that anyone with an ego will most likely turn into a despot looking to "control" your life right into oblivion is rather frustrating.

All in though, the one thought that kept running in my head was what Rick said: "This is not a democracy anymore, this is a dictatorship. You don't like it you can leave..." I have always thought that a benevolent dictatorship would be a good place to live, only because group rule (democracy) usually leads to more problems even in small groups. But, even in a benevolent dictatorship you are subject to bad decisions and egos...

I have posted that we are either Japan or Venezuela. I think we will be Venezuela eventually, it will just take it's Japanese time getting here... Inching along the sands of time like a snail as the zombies continue to multiply and cause greater pain on the living. Will Trump be Shane? or will he be Rick? Or will he be the Governor?!?!

Last but not least, last show of the last season...."Welcome to the NEW WORLD ORDER! What you thought I would take up gardening?!? I want half of everything you have!" Yes indeed, those with the might will do just that---eat off of your hard labor - for your own protection of course!

May 31, 2016 - 2:19pm


Great comments. Let me add some more.

I live in Southern California. I have so my entire life, except for five years while in the US Army in Kansas and other interesting places, and during my undergrad college in Arizona.

I have watched this state of California degrade over time, on a socio-economic, demographic, and infrastructure basis. It has happened gradually, almost imperceptibly, month after month, in an unrelenting fashion.

Go back and watch the Cheech and Chong "Up in Smoke" movie from the late 70's. That comedy was damn funny, as it mocked stereotypes and poked fun at some sensitive things, like illegal immigration.

I remember my own neighborhood, and friends, and how we did not know or ever hear the phrase "illegal alien." We all just laughed at the comedy of the hapless "immigra" in the pale green Dodge sedan that would drive by on occasion. Some of my best friends back then as it turns out, were illegals. One of my law partners was an illegal, having come to this country as a toddler, brought by his parents who were fleeing from US corrupted puppet governments and their death squads in latin america.

Back then, though, everyone WORKED for a living. There was no massive government aid program, like now. I watched some of my best friends work their ASSES off during the hot summers, doing manual labor, construction, nasty stuff, so they could better their lives.

Now days, I take the Metrolink into downtown Los Angeles, and on the rooftops of the welfare projects and public housing that sprawl for miles in all directions, it is impossible to count the number of DirecTV and Dish Network satellite dishes on top of all the buildings. How is that possible? Should not people that are dependent upon govt aid be required to live without luxuries, like DirecTV? Would that be asking too much that someone taking from society not live a life of luxury, paid for by the sweat and labor of others?

Well, the socialist dream always fails when they run out of other people's money.

In my neck of the woods, my family calls the homeless people who haunt the freeway entrances and exits, "walkers." They look like walkers, they shuffle like walkers, they exist like walkers, so we call them walkers.

Recently, the city I live in had its high school prom queen from the 1980's in the paper. No, not for some accomplishment. It was for her death.

See, she was the homecoming prom queen, then, as the paper glossed over, she "ended up" homeless, living on the streets, with her shopping cart. No mention as to the circumstances of how she came to be homeless. No mention of the tons of taxpayer money she received over the years, so she could live her lifestyle choice, free of responsibility, free of chores, free of work obligations, and free to wake up and get as intoxicated as she wanted all day, all the time, free to sit and ask for hand outs, free to get herself to the emergency room for free health care, and free to get her monthly check from the State of California. No mention that her own choices resulted in her deteriorating health. No mention that her own choices resulted in her hobbling around in dark clothes, near freeway offramps, trying to guilt passing cars into giving her money to support her lifestyle choices.

But, of course, there was the mention of the "tragic" event of her death, when a vehicle hit her in the middle of the street one night. See, that was the tragedy, not the fact of her useless life, made so by her own choices, enabled by the doomed social policies that prevail, and espouse that the never-ending limitless wealth of the USA knows no bounds.

Eventually, the free money, which is never free anyway, runs out.

When it runs out, the zombies will wander, and go looking for subsistence.

In that chaos, order will emerge.

Prepare accordingly.

May 31, 2016 - 5:48pm

@ California Lawyer

I would like to add one more comment.

While nobody was paying attention, L.A. has become the second largest Mexican city on earth....and it's not even in Mexico. To me, it is ironic that Mexican's have moved to the U.S. for more opportunity and less crime, never realizing that they, unknowingly, brought less opportunity and more crime with them. California led the entire world in importing more liberal voters and it has become an unmitigated disaster in the UK, France, Sweden and in every country where the practice exist.

May 31, 2016 - 8:29pm


And Miami is the Capital of South America.

boomer sooner
May 31, 2016 - 11:10pm

Great Post, CL!

I have never watched a full episode. My wife's classroom aid (legal immigrant from Guatemala) is an avid watcher and makes a point to be home to watch.

I may start watching after the reviews here.

Start now or do I need to go to the beginning?

May 31, 2016 - 11:36pm

Thanks, CL!

I did not have time to finish binge watching the series - but your post mirrors my thoughts exactly. You put them together much more succinctly than I ever formulated them... I was struck by several instances of outright preppers being mentioned - in the context of how their hoarded supplies were found to be useful by other survivors (the preppers themselves having fallen prey to the epidemic and the walkers). Even Hershel's farm, attractive as it was for its enclosed/remote nature, and it acting as a source of sustenance - until the physical location was overrun by herds. Prepping can provide you with a starting cache, a means of BEGINNING a new existence. To REMAIN alive, as CL points out, survivors must exercise a constant level of critical thinking, decision making. It can give a leg up - but mainly for its status as an indicator of being perceptive and thoughtful enough to recognize the approaching calamity, and to have prepared for it. Fortresses - attractive though they may seem -- are only as secure as the strengths of its human reinforcements, and they will always attract unwanted attention of both walkers and opportunistic raiders.

May 31, 2016 - 11:41pm

Possible metaphor ?

Perhaps the main characters portray "savings" and zombies are the negative interest rates, one will devour the other in the end ! Many thanks C.L. , most enjoyable.

Jun 1, 2016 - 1:42am


My humble suggestion is to watch from the very beginning. It is a journey of the mind for Rick and his best friend Shane, and the initial group of humans, including Morgan.

Their realization of their dire situation is mesmerizing to watch. It is as much a study of the psychology of calamity and group reaction dynamics as it is fun to watch the zombie hordes devour hapless humans. At first it is ghoulish, and gory, but after awhile, the zombies are not really so scary. The living human beings are the most dangerous. All the base human emotions all combine for an ugliness not seen or talked about in decent company. It is an unbelievable show.

If you start watching anything but from the very first episode, you miss the character development and evolution, which is perhaps the most fascinating part of the show.

I always find myself wondering what I would do in the situation depicted on the screen. Many times I found I could not make a rationally better choice, and either choice of action would have been equally wrong or bad. It then becomes an internal manifestation of one's guiding principles.

The show makes a point to portray soulless individuals as loners and eventual zombie food. Those with principles and caring are most vulnerable, as they tend to be selfless which results in more danger to them and their companions. The self interested tend to get eaten by zombies, though, as they forge no lasting alliances, and in the zombie apocalypse there is no surviving alone, only in groups. Yet another lesson.

Watch from the very first episode and you will be mesmerized as you understand that the masses are being propagandized away from critical thinking. I won't say any more, as there are some spoilers that I do not want to reveal.


Jun 1, 2016 - 1:51am


Quite accurate, all that you wrote.

My main takeaway from watching all six seasons, start to finish, is that the absolutely necessary survival skill is adaptability, combined with resolute decision making with no hesitation.

If you think about it, survival of the fittest is really not that. It is really survival of those that adapt. Those that adapt more quickly to changing conditions, without vacillating and harboring remorse are better suited to apocalyptic conditions that are ever changing.

There are so many examples of this, that the message truly resonates.

Of course, on a deeper level, we that are in tune with gold as money and silver as money as our primary belief system, tend to see many lessons that match our understanding of fiat versus sound money.

We are not complacent, but instead, we watch and wonder what if? We prepare, instead of taking things for granted with our normalcy bias controlling all that we think and do. We instantly recognize charlatans, who promise something for nothing, while their real agenda, hidden from view, manifests itself only later in a horrible, dangerous way.

The show is fascinating from that perspective, as the zombies that eventually capture and eat a human are really only sending the message to the masses that critical thinking is dangerous, as those that try to be independent end up getting pulled back into the collective where all individuality is lost, and the zombies wander aimlessly, driven only by their basic urge to eat protein.

Anyway, glad to see you weigh in, take care my friend.

Jun 1, 2016 - 2:29am

On the fate of rodent (mammalian?) utopias

I just came across this... seems extraordinarily appropriate to post here:

Mouse Utopia Experiment

Jun 1, 2016 - 3:04am

Great post, CaL. Thanks!

Been looking over all of the Comex numbers. While I would strongly caution everyone NOT to get all worked up over it, the numbers certainly are interesting and unusual. The next time I have the opportunity to write a post, I'll be sure to analyze and comment on the situation.

SilveryBlue infometron
Jun 1, 2016 - 3:52am


The beautiful ones. LOL I know what most of us will equate them to in the current human population. Mostly they live in basements too!

Jun 1, 2016 - 4:02am


I wonder. Does the doctor's research apply to mice, rats, banksters, politicians, child molesters, snakes and other vermin or would its implications extend to all of mankind.... including the doctor himself ?

Jun 1, 2016 - 8:34am

New Bill Whittle

A large part of this website is dithering about the demise of money, society in general and our very way of life. Bill Whittle made a speech about these topics and I think that some of you might like it. 26 minutes, but worth it in my opinion.

Jun 1, 2016 - 9:28am

@Wingy, That was terrific!

Many hat tips. Very intense presentation.

Jun 1, 2016 - 9:32am

The walking stupid

What would the U.S. look like, or better yet, what would your area look like without the massive availability of credit? Imagine your area having to survive on income only, no credit. This would include the state and city also not being able to borrow and spend freely - only tax money could be spent. The only credit available that would be allowed is collateral backed: auto, house; absolutely no credit cards. Any and all applicants would go through a very thorough screening process to determine their credit worthiness and ability to repay. How many eateries would be closed in a month? car dealerships? How many shopping malls would become ghost towns? How many people would be out of work? The only real jobs would be productive jobs (creating things of value) and how many of those do we have? Money would become so scarce that getting someone to part with a buck would be like pulling teeth. Without the ability to borrow and spend governments would have to rely on tax income only, how would the Federal government provide the luxuries for the FSA? or pay for Medicare and Medicaid let alone provide SSI for the boomers? How about the road projects, bridges, monetary grants, etc. the Fed govt gives to the States? In my State a local city received a billion dollars for developing a "high tech medical industry", a billion dollars that was, of course, borrowed. As this money begins to boost the area with all the (temporary) jobs being created to build this massive project the local news stations are constantly showing the improving economy on many newscasts. Many people then parrot this bullshit stating "this area is coming back". This high tech industry will only be sustained with State and Federal funds to healthcare - take that away and so goes those jobs too.

In my county the largest employer is an Air Force base that houses just 11 C-130s but has over 3000 employees. There is no reason this base is open other than to provide ecomonic benefits. If the easy credit was extinguished the 11 planes would take off never to return again. In the next county the largest employee is a State University. The total population of the two counties is about 1.1 million and there is very little industry (production) left. We are now a service economy and without a doubt living far above our standard of living but credit keeps getting pumped in. We have an amazing amount of auto dealerships but a housing market that lags. Most folks are content renting and driving a mortgage payment while paying for pizzas on credit cards.

Only a few of my friends get what is going on, the rest are 'walking stupid'. We can see why why gold can never be money again, it extinguishes debt and debt is the money of the U.S. Even if the masses knew what was going on would they want to change? Would they want sacrifice their job for sound money? Can you imagine 'good deal Jimmy' selling cars down at Sunshine Chevrolet giving up his in ground swimming pool? Think he cares that it takes many of his customers 2 paychecks and 7 years to pay for the new Silverado while racking up 20k in credit cards? What Ol' Jimmy does care about is that if the walking stupid ever lost the ability to borrow on their signature he is a dead man walking.

Jun 1, 2016 - 11:28am

my apologies Cal Lawyer

for not giving kudos to you for a great write as I should have in my rant above.

Jun 1, 2016 - 11:45am

S&P has been so resilient

To domestic global everything. I wonder, if we ever find out why?

In my opinion....This is not a free market by any standards.

Jun 1, 2016 - 12:02pm
J Siefert
Jun 1, 2016 - 12:15pm

Re: The Walking Dead

Interesting comparison CL of so-called "zombies" to humankind.

I wonder to what extent the fairly recent "Holocaustification" of Western society has played its part in forming (or deforming?) humankind's behaviour?

I've just started reading Gerhard Menuhin's book "Tell The Truth & Shame The Devil" and this is one of the questions he raises, ie. whether the Holocaust lie can be exposed for what it is before it permanently 'damages' Western society.

Jun 1, 2016 - 12:27pm

S&P 2100 for the political agenda

Each run to 2100 on the S&P gets a little more difficult. It is not data dependent but a political rouse. A coordinated effort from TPTB. If it is a down day be sure that the PPT will be covering into the close. I'm of the belief that they have gone so far as to skew economic data to accomplish this agenda. Near the death cross 2 weeks ago and now about a 70 point turn around. Perhaps consolidation here but they will inflate this bubble to a new level and then rinse the shorts out. True distortions as this bubble stays inflated getting ready for the next rise up. At this point Manufacturing does not matter, Labor Participation does not matter, Debt does not matter, Retail does not matter, .. Just to hurdle over 2100 on the charts matter. Kool Aide Time for the masses.

Jun 1, 2016 - 12:35pm

Is $1200 a new floor for gold?

We will find out soon....Likely this week.

Jun 1, 2016 - 12:55pm

One day soon, there will be a COMEX PM price smash

followed by a default and cash settlement. Perhaps a day that looks like today?

Jun 1, 2016 - 1:11pm

Would you consider it to be a criminal act?

I wish I could hack the Fed, BIS, the cartel.....

Jun 1, 2016 - 1:42pm

The Day the EBT runs out

Will be the true Walking Dead Scenario.

Jun 1, 2016 - 1:53pm

Beige Book BS : cheerleading

Written by the Fed for the FEd. We will soon see.

Jun 1, 2016 - 2:08pm

Brandon White's response to Walking Dead aka "Trader Dan"

"Adding gold to one's portfolio as a hedge (let's call it shorting big government and big banks) has been an effective way to achieve steady returns, reduce volatility, and insure against the madness of modern banking. Gold has provided a return of more than 350 percent since 2000. What index has done that? What bank stock has done that? What bond has done that? What currency has done that? What do all those securities have in common? They are nothing more than promises from dubious institutions that are fraught with multiple counterparty claims. Gold is not a promise. Gold does not need a portfolio manager. Gold does not need an institution. Gold will never file for bankruptcy. Gold can never be worthless. Gold cannot be dishonest. Gold is the exact opposite of, and competition to, government-issued money -- and that is why it is disparaged. If gold is really a "barbarous relic," then why do all major central banks own it? It’s simple: Gold is a hedge against themselves. I'd love to hear a central banker admit it."

Jun 1, 2016 - 2:12pm

@California Lawyer: Again, Thank You

A. Said once again, but never enough, your intellect and creative energy are dizzying.

2. Having lived in California three times in my life I do have a sense of what it once was. I reside in Oregon now which might be said to be "California Light".

d. If anyone is interested Victor David Hanson has a new read out: The Decline and Fall of California: From Decadence to Destruction. It eloquently lays out the decline . . . .

Thanks CL

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