Copper Price History: A 2,000-Year Overview

“Take that copper!” ~ James Cagney, Angels With Dirty Faces,
Dir. Michael Curtiz; Warner Bros, 1938

Right off the bat, copper is a very different metal. Like gold, it’s easy to work with for relatively simple tools and technologies, but unlike gold, copper was (and is) quite common and easy to find. Copper has been mined and used for at least 10,000 years and likely vied with meteoric iron as the metal most used in tools.

Copper’s history as money, is a different story. While gold and silver have almost always been traded as inherent objects of value, the value of copper has often been tied to its utility; a copper knife blade, for example, was worth more than a similar amount of copper (as economic theory would say it should be). Given the low value of copper relative to gold and silver, governments were not always as concerned with making copper (or copper alloys, like bronze) coins available. Continue reading

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Disadvantage and high land prices almost always precedes collapse

If this economic climate feels familiar to you, that’s because we have been here before…

The examination the historical red flags that preceded crises dating back to the Roman Empire.

You’ve got to stand back and not bury your head in inconsequential detail if you want to understand history. Land and poverty are always key.

Pax Romana
The Roman Empire was destroyed by having spread its powerful and expensive military too thinly to support counter-productive property bubbles at home. Debt was partly serviced by military plunder of the resources from conquered nations. Although the empire battled on–so to speak–for another three centuries following the death of Pliny the Elder at the eruption of Vesuvius in 79 AD, he had understood the damage land speculation was doing to the nation. It had destroyed it: “Latifundia perdidere Italiam“. The building of great estates came at an enormous cost to an impoverished middle class and to the agricultural poor, the latter who flooded into Rome for succour. In rent-seeking economies, it seems farmers will always do it hard whilst the city flourishes. Continue reading

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…and so you believe this?

I believe the guy getting held-up, is a working man on his way home…

The other two guys are the Banksters!

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Is the Federal Reserve Sowing Seeds of Marxism?

Wealth inequality has become a major talking point for those primarily on the Left who are vehemently against capitalism. Often espoused by leftist professors, lawmakers, and think tanks, the increasing disparity in wealth among Americans has been a growing concern. Many have questioned for years whether the Federal Reserve and their fiat currency monetary system is a fundamental fraud in our economy today. Is the Federal Reserve causing wealth inequality, thereby sowing the seeds of Marxism?

Wealth inequality is an issue that both political sides should be willing to tackle because it can cause terrible consequences for a cohesive society. One can easily go off on the issues of personal responsibility and envy politics, but the reality is society must deal with the issue regardless of the morality of the issues – see “Trapped on a Deserted Island with 200 Hungry Savages.” While the Left is correct in their concerns, they are ignoring a major cause of the rampant, growing inequality in America – currency debasement and instead blame capitalism. Let’s take a simple example that demonstrates Fiat Currency Debasement and how it can create wealth inequality mathematically. (Continue to full article…)

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Humpty Dumpty System Is Irreparable

What does it take to break the global financial system? Well, we obviously know what it takes since the system is already broken. Broken by debts, broken by deficits, broken by a fractured financial system, and broken by false markets as well as fake money.

So just like Humpty Dumpty, the system has already had a big fall. But the world still believes that this is all a fairytale with a happy ending. No one wants to recognise that Humpty is totally broken and irreparable. Continue reading

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The Final Chapter

All things, both good and evil, come to an end. So it will be with the great silver price manipulation…

All things, both good and evil, come to an end. So it will be with the great silver price manipulation, which I date as having existed, in its COMEX-orchestrated version from 1983. Before that, of course, silver prices were never truly free, mostly as a result of some type of government interference. The US Government both supported and then depressed the price of silver for a hundred years prior to 1983, first by amassing more than 5 billion ounces and then by disposing of same. Continue reading

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History Tells Us to Own Gold When Central Banks Run Out of Control

“It’s Madness… MADNESS!”

Always and again the magic of money presents us with problems. These problems change constantly. Time after tiine experience teaches us that there is no universally-valid system by means of which monetary problems may be solved. Every new situation demands new deliberations, new measures, new insights, new ideas. Each of these ideas must be informed by and subservient to the sole and single purpose of maintaining the soundness of the currency. ~ Hjalmar Schacht

“Extraordinary Popular Delusions and the Madness of Crowds” happen with regular intervals as Charles Mackay wrote about. It seems that the world experiences more delusions and madness than truth and sanity.

The pattern is always the same. The economy is never in equilibrium but moves in cycles of boom and bust. If these cycles were allowed to take their natural course, they would move up and down in a steady rhythm without reaching extremes at the top or bottom. Continue reading

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The Federal Reserve is Getting Desperate

In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until last week, the Secondary Market Credit Facility had limited its purchases to exchange-traded funds, which are bundled groups of stocks or bonds. Continue reading

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Mortgage Delinquencies Surge To Nine-Year High

The worst has yet to come for the real estate market as home-mortgage delinquencies surged to their highest level in nine years as the virus-induced economic downturn continues to crush household finances.

Property research firm Black Knight Inc. reports total borrowers more than 30 days late surged to 4.3 million in May, up 723,000 from the previous month. This means at least 8% of all US mortgages were either past due or in foreclosure. Continue reading

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There was a time…

…yet some are still at it!

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