Falling EROI Will Ultimately Destroy the US Empire! – SRS Rocco

economic collapseSRS Rocco (Steve St. Angelo) of the  SRSRocco Report joins Sean of SGTReport.com to discuss precious metals and the falling EROI (Energy Returned On Invested) which Steve says will ultimately destroy the U.S. empire, just as it led to the collapse of the Roman empire.
We also discuss the alarmingly quick depletion of PHYSICAL silver inventories at the Shanghai Futures Exchange which are down more than 50% in recent months, and the raid on PHYSICAL Gold inventories at the Comex, which are down nearly 40% in half a year.

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Comments

  1. Now there you go Steve
    Good stuff. 
    Jim Willie had a nice acknowledgement about you in his recent Golden Jackass July article. 
    The doorbell rang so I gotta go.  Back later on this EROI stuff.
    Yep EROI in precious metals brings us back to the acknowledgement that under all commodities including real money, gold and silver, is oil. Barrick, Goldcore and 1 other gold miner wrote off $13 billion in actual CAPEX costs this last quarter. Pascua Lama cost Barrick $8.5 billion, the entire investment of $8.6 billion less the $100 million in officer salaries. Barrick is toast. Its net worth and deriv book are a toxic nightmare. The Chinese will probably take them over since Barrick has a world wide presence though it’s HQ is Canada. If not a buyout of the stock they may buy the underlying financing as the firm defaults on its loan obligations. That’s Jim Willie’s speculation, not mine, but as a huge firm flounders around, the Chinese will scoop them up.

    • AGXIIK, the Chinese took a sniff at Barricks’ African assets a few months ago, and walked away.
      Having no doubt seen the rot in that particular part of the carcass, there’s little reason for them to be attracted back to the rest of this decaying dinosaur remnant of another age. Barrick was set up to launder the proceeds of the BushyBandit&Co’s criminal drug and weapons trade through the banking system, then buy up legitimate miners and ultimately seize control of the sector in partnership with the usual suspects of the ‘investment bank’ kind.

      That MISSION was ACCOMPLISHED = metals prices suppressed and mining stocks doomed to undervaluation – but once Barrick was forced to end their hedging scam, their usefulness to the cartel was over. Though some hapless sovereign wealth fund(s) will doubtless be suckered into taking up a position in this zombie, the Chinese are much too canny players to bite. Look instead for them to make joint-venture deals with governments like Chile once the forth-coming wave of nationalizations hits the miners.

      Another, maybe even bigger reason that the Chinese won’t bite at Barrick is that they have been repeatedly stymied in the effort to use their financial muscle to buy into businesses, by the faux capitalists of the west. They’ve grown tired of it all, at this point, and will simply pursue a different approach to achieve the same goals – much along the same lines as Big Jim’s contention that the economic embargo and SWIFT cut off of Iran were more examples of the kleptocrats who rule the west shooting themselves in the foot!

      On the other hand, and in keeping with what you just mentioned over on the “golden shower” thread, if these speculations are true – http://www.globalresearch.ca/who-authorized-preparations-for-war-with-china-the-two-faux-democracies-threaten-life-on-earth/5343844 … we’ll be getting to the punchline much quicker than a protracted economic war would allow for!

    • AGXIIK  … “under all commodities including real money, gold and silver, is oil.”

      Standing behind oil and other forms of energy that they more economically augment or supplant is … Labor. Take away these Labor reduction/replication schemes and all other commodities remain, nevertheless. The thrust of Steve’s argument, relevant and important as it genuinely is, doesn’t sufficiently (in my opinion, at least) factor this relationship into prognosticating an impetus that would trigger substantive moves toward realizing currently developmental (and even experimental) alternatives to be propelled into production.

      Reversion back to rudimentary Labor for keeping all the other usual raw to finished goods moving through the markets, I’m sure, has an ascertainable (rational) cost differential that when approached, would cause this ‘energy revolution’ to a point of immediacy. Of course, the ‘replacement’ substance would ideally fall into the category of ‘liquid fuel’ that exhibits containment and storage properties, themselves un-prohibitive. Liquid hydrogen, perhaps? What other candidate could be cheaper than water sourced fuel, whose portability difficulties don’t pose significant impediments in balance?

    • >>>What other candidate could be cheaper than water sourced fuel, whose portability difficulties don’t pose significant impediments in balance?
      ELF Resonance collection and conversion … but that of course is in the realm of tin foil hat. Hydrogen is only useful as a ‘fuel’ if you have an energy source equivalent to total energy/electricity output plus conversion loss, in the first place… it’s also too volatile to really be practical for most applications (IMO) and the energy density of Liq-Hydrogen still is no competition for good old Black Gold which is already there, and already stored with potential energy.
      >>>Standing behind oil and other forms of energy that they more economically augment or supplant is … Labor
      What if you created a robot and robot factory that built robots who could build robots, who could repair robots, who could mine and drill for energy, and farm, and you were able to totally eliminate ‘Labor’ so that it was a self sustaining system? Would an un-sentient robot be classed as a laborer? Where would the labor component be? CHECKMATE :] was the industrial revolution just another move in the direction of complete irrelevancy for Labor? I think the humans who would benefit from such a situation would become so incompetent and useless that they would devolve into a simpler life form of some sort (look at Royal Family case point). Even Hitler understood the concept of ‘WORK MAKES FREE’  LOL.
      ie, should this read “under all commodities including real money, gold and silver, is TECHNOLOGY, but for now Oil will do” ?
       
      Is Economics simply a function of Technological Advancement? … and is Human Labor just a transitory phenomenon?
      A Mental Rubix Cube … DARPA needs to create a Robotic “Groom Of The Stool” and we’re all done for!
      I hear twilight zone music playing!!! *<tin foil hat off>*

  2. All is well, don’t worry, there is no inflation says Uncle Ben!

  3. This is interesting!
     
    CFTC’s Chilton to Fed: Cut banks’ ties to commodities
     
    http://www.reuters.com/article/2013/08/05/us-banks-metals-chilton-idUSBRE9740LK20130805
     
     
     

    • Controlled opposition?

      letting some steam go?

    • “The Federal Reserve should reverse its policy of allowing investment banks to own metals warehouses and commodity infrastructure assets, a top U.S. derivatives regulator said on Monday.”
       
      Yeah, woulda, shoulda, coulda… same old BS.  The real question is WILL they.  Probably not until forced to do so.
       
      Maybe they should look into the part where banks are now allowed to naked short the metals?  Nah, nothing to see there, no problem, move along, move along.
       

    • Good ole Bart saying the same comments year after year yet the CFTC does nothing to enforce existing commodity laws.
       
       
      What a joke.

    • “Gold is money. Everything else is credit.” –J.P. Morgan, Congressional Testimony, 1912
       
      What he might more forthrightly have said is that ‘Labor and physical things are money, gold among the most ideal of the latter’.

      Since these SOB Bankers hold out the fraudulent pretense that their banknotes are ‘money’, then it’s quite just they be condemned to exclusive reliance on them.

  4. Chilton is all talk no c0ck. they are gonna ride this into the ground. we are still stuck in the mud clearly and they need to keep metal prices down at all costs

  5. In this interview, SRSrocco does a great job of laying out his argument…. and a compelling argument it is…
    right up to the last mile. At which point he gives me cause to remember that Brit movie from the 60s, Loneliness of the Long-Distance runner – cause he stops just short of the goal.

    Any analysis of the socio-economic dimension which does give due measure to parasitology -the study of the behaviour of parasites – will never come to grips with the dynamics behind our dilemma. The Romans, and other imperial projects which feasted off of the conquered spoil of their far-flung fiefdoms, had no way to stave off the collapse that came from running into the limits to their expansion. That is true, and use of  the metaphor for the present moment of Anglo-American imperial stagnation is instructive. But…
    to suggest that ‘the wealthy’ will suffer, along with the rest, as a result of the end of the age of cheap and abundant hydrocarbons   – greatly misreads the script which has been written for the future of the western world.

    This graph, so descriptive of the distribution\sequestration of global wealth, can be viewed by the political parasitologist as a map of the chain of ‘energy’ flow by which the top dwellers secure and enjoy their position.

    We have no way of knowing exactly what are their plans to maintain and extend their spoil, but you can be sure that they are not sitting idly by to watch their loot waste away with the end of the cheap hydrocarbon era! Something of those plans might be inferred from the all-enveloping security state being built right now all around you. After the middle classes have been denuded of their remaining wealth, a return to the age-old formula of the parasitical class can be predicted, just like in the days of Carthage and Rome. Death to the masses, and enslavement of the survivors, to be employed in the modern day equivalent of the mines of Asturias. Where, to quote Diodoms,
    “These people, though by their labour they enriched their masters to an almost incredible extent, did it by toiling night and day in their golden prisons. They were compelled by the lash to work so incessantly, that they died of the hardships in the caverns they had dug. Such as by great vigour of body continued to Uve, were in a state of misery which rendered death a preferable fate.”
     
    Hey! no graph /// what happened?

    • @Will not,
      Ok, got it. Thanks for expanding pon that point… good stuff, and exactly the direction that the conversation needs to flow here, in order to protect these poor sods…
      whose only current modus operandi is to bark and bite at anybody trying to look after their interests – lol!
      Since this thread is more or less dead, I propose we scoop up the nuggets here and deposit them into a future thread, where it proves opportune. Till then.

  6. I thought SD allowed insertion of graphic content – Ok I see what happened. Here is the graph. Hopefully.

    • >>>parasitology -the study of the behaviour of parasites.You could make some big bucks writing a book about that one! It would have to be on the science fiction shelf until the plebs wake up a little and move it into reality.
      So what your trying to say is this;
       

    • Willnot said – “So what your trying to say is this (followed by pixs of fiat symbols, then stack o Au.”

      Err, not xactly ol buddy… actually, I was fully on board with your comment from previous thread…”(Or are they just criminal? I have a much more Machiavellian view of most of them)” – and wanted to cut to the chase.
      Instead of the ‘incompetence’ ascribed to tptb(note – as in… the real powerz … not their shabby front men!)in that thread, I do believe that the powerz have a great grasp of what they are doing… and the means to implement a grab of gold that will leave those unprepared for such an eventuality(due to incessant absorption of ‘stackthesmack\todamoon’ narratives)gobsmacked…. and out of luck.
      Preparing an antidote to that possibility needs be the bizness of any site that purports to be an authentic ‘gold\silver bug’ nest – IMHO… but goldenholders tend to ‘fly off the handle’ at any and all attempts to moderate the lemming thing. So one must proceed ‘apace’ in trying to protect their interests.
       

    • Couldn’t figure out how to get two graphics into one comment…
      so here’s the follow up =
      picture A the winners -walking proud as the beagleboys look on in disbelief.
      picture B the losers. Giant hopping quadrapeds(or something akin to that!) stomp unprepared fowls who were used foully by sources who led off every second transmission with “INCREDIBLY IMPORTANT DEVELOPMENTS IN THE GOLD & SILVER MARKET” or “I’VE NEVER SEEN ANYTHING LIKE THIS IN 50 YEARS!” …(ok… so maybe it wasn’t in ALLCAPS!)

    • That’s what I meant Hedgey. The NEW Economic model that TPTB were planning was a 100% IMF Fiat prison, but they are not stupid enough to have not used their Fiat to heist all the real physical Gold. When I saw Queen Eliz II the other month doing a photo op in the BOE vaults in front of their supposed ~~6000tons of Gold, (or Tungsten, who knows) the English media were quick to mention that ONLY 300 tons were ‘sovereign’ and the rest were being held in private hands. You can bet that a large chunk of that private Gold is owned by TPTB (ie, too BIG for the BOE to steal from, in supplying the LBMA supply/demand imbalance) … the Reserve Gold that IS being leaked out of the BOE is simply any ‘allocated’ chump that THINKS they are too BIG for the BOE to steal from.
      You can bet that the BOE have a tiered Allocated Gold structure;
      TEIR 1: OLIGARCHY –> Safe and secure, you will receive your Gold through a secret tunnel delivery 2 weeks before we declare a sovereign bankruptcy, or at least the LBMA members default as technically a Fiat Economy cannot be bankrupted just hyper-inflated into a non-entity.
      TIER 2: MUPPETS –> People stupid enough to think you are considered a valued customer. We will sell all of your Phyzz to meet foreign creditors, charge you storage fees even though the Phyzz was probably not even there in the first place to begin with, and then probably not even pay you out in cash WHEN we fail. SUCKERS!!!
       
      So when I said HEALTHY HOST, I meant the new economy after the crash which might even be declared Gold Backed, but of course the people at that stage that will be able to supply the new market with Gold are the Oligarchy, so I agree with you entirely.
       
      The only problem is the China (an other overseas Creditor) problem. I believe TPTB were hoping to make China fail first before the US/UK in which case the US/UK bankruptcy would never come, and that they could go straight to a Govt issued food/sustenance card/chip model as they slowly strangle the people remaining through usury and Govt taxation (ie, IBM Concentration Camp model comes to mind).
       
      IMPORTANT: This is why I believe that the plan is for all of the bad credit in the UK/US system to be transferred to the US Banking sector, and so that the US System is the ‘sovereign’ that fails, whilst the Phyzz Gold spoils will surface in Europe (Britain? or somewhere else in the Commonwealth for instance?) in order that the US can be the one who takes the fall for failing to pay China etc… (Default on US Treasuries). The conduit for the bad credit transfers are the London/Wall Street banks that are 100% trans-atlantic and doing all their shady transfers in the Shadow Banking system out of the purview of Govts even if the Congress COULD get a proper investigation into the ‘visible’ banking sector.
       
      When I called Gold an Antidote, I was referring to as much as possible being spread out in the hands of smaller constitutional citizenry in order to counter TPTB from being in a position to corner ALL the TRUE Liquidity in the new system when Fiat evaporates into the breeze and the masses wake from their coma. The worlds biggest Gold Heist. A Bait and switch, Fiat for Gold. As Pat has rightly quoted JP Morgan “Gold is Money, everything else is Credit” … and credit is simply un-lawful debt when it is not 100% pinned to Money and redeemable at the bank in stipulated Money (Gold), and as Pat rightly says it is because the Debtor has knowingly/un-knowingly entered into a contract of slavery with an entity that had no right to issue credit out of nowhere at interest when it had not the Money to back it up in the first place. 1971 was a sovereign default re-branded as a new ‘monetary’ order … it was simply a criminal act that everybody accepted on good faith … a NEW RELIGION, a FAITH IN CREDIT which is purely DEBT/SLAVERY.

  7. Good one WillNot
    Now I have to ask  all you  brainiacs, do you ever sleep? 
    Holy Tamoley—I’ve just spent nearly 90 minutes going through the posts from y’all from last night.  Good stuff, all in all and I enjoyed reading it.  It is probably more reflective of my OCD nature that I’d rather wake up to this than almost anything else except—-.  A full year of geopolitical lesson plans in one morning’s reading

    My only comments are:
    The best paid servant in the king’s retinue was the stoolmeister, responsible for managing the king’s waste products.  I heard it paid something on the order of 25 pounds sterling a year. There’s meaning in that somewhere.

    Cypriots are the first of us in this most recent era to find out  that if you live by digital FIAT you die by digital FIAT. The ghoulish Eurobanks have their gnarled fingers formed in a fist around the shriveled nutsack of every European.  Cyprus just got squeezed and hard.  Their economy is destroyed and unemployment must be at least 35% and climbing.  They are quickly becoming a remnant of that parasitic creature of the pyramid and all seeing eye. 
    All I see is a husk, a dead fragment of whatever soul occupied the human form that was the Cypriot people.   This is the fate of anyone who adheres to FIAT and debt.  And this is a world wide phenomenon, never seen before in the history of humanity, or so it seems. If there was a period prior to this, it would be instructive to know how it ends.  WillNot?  Pat Fields? Hedgey?  History lessons are in order, because Holy Bat Crap, we are not getting it but we will get it and hard. 

    One more thing
    Amazon’s Bezos just bought WAPO for $250 million cash. Jeff is worth $23 billion. He also signed up the CIA for cloud data storage using Amazon’s technology. The deal was worth $800 billion or something close to that amount. Paper news is really old tech but the WAPO is the mouthpiece of the DC environs. Interesting connection. About as interesting as Huffpo bought by AOL. The propaganda circle tightens.

    Startpage works nicely. Between that and deleting my DA from Facebook are two little jabs at the Stasi.

    • AGXIIK  … “Pat Fields? History lessons are in order, because Holy Bat Crap, we are not getting it”

      I can’t deny that all the reading I’ve done into 16th through 19th century writings has ‘rubbed off’ in my composition and sentence styles, but I still WANT to be understood. What isn’t clear for you? I’ll be PLEASED to re-write it for you in more current vernacular (the best I can).

    • @AGXIIK >>>The ghoulish Eurobanks have their gnarled fingers formed in a fist around the shriveled nutsack of every European
      HaHaHaHaaa! Nicely phrased. We shall call it the CYPRUS CRUSH! … very eloquent. If they ever try that with my nut sack I shall kick like a steed, and the reciprocal crushing will be greater than the former!!!
       
      @PatFields >>> I can’t deny that all the reading I’ve done into 16th through 19th century writings has ‘rubbed off’ in my composition and sentence styles.
      It’s OK. I read the King James 1616 Version a lot so I sometimes use the Ye Olde English when speaking to friends and they look at me like I have two heads. Facebook and SMS are killing the English language. We will all be speaking NetSpeak (kind of like NewSpeak) before long, but I will resist to the last. Esperanzo was yesterdays globalist dream that turned out to be once again the product of globalist technocrats who could not even predict the time of a sunset.

  8. Pat 
    what I meant was the people of the world were not ‘getting it’.   I think we readers are however.
    And since they are not getting it, they will ‘get’ the result and it will be a hard reset.  The people of this time period are not getting the lessons of the past and are repeating it again and with a most certain painful result.
     What I WAS asking in a history lesson would be   related to a time in the past that,  to your knowledge,  represents a similar situation. 
    Worldwide FIAT, a reserve currency that dominates the world and how it ended is more of what I was asking.  My intel on that is lacking.
    There was an recent article that outlined several countries including Portugal, Spain, Germany, the UK and others who held the reserve currency of the world in times past.  All failed.  The timing of the failure, what caused it and the aftermath was my question in a nutshell.  I didnt want to task  you with something that you have already provided on SD in the past.   Sorry about the mistake

    • AGXIIK  … “What I WAS asking in a history lesson would be related to a time in the past that, to your knowledge, represents a similar situation.”

      Well the only really good close parallel of which I’ve read, would be the collapse of the Chinese ‘Flying Money’ in the 1450′s, since that engulfed the whole of Asia, but the truly definitive book on the subject, actually covering the complete monetary history of China in exhaustive depth, costs 4K … USED! The cost reflects the PRECIOUS FEW copies published in English. FAR beyond my meager means. There are LOADS of details surrounding that event which I’d SAVOR learning about, but, I’m afraid they’re probably to evade me in this lifetime.

      What I find so alluring, is how the Emperor and his Court apparently avoided extensive hardship by very rapid conversion of the paper to copper cash, which went on to actively trade current right up to 1934!

    • @PatFields >>>What I find so alluring, is how the Emperor and his Court apparently avoided extensive hardship by very rapid conversion of the paper to copper cash, which went on to actively trade current right up to 1934!
      I for one will demand Au and Ag … I wondered why JP Morgan was trying to corner Copper :P
      One from the archives: http://www.telegraph.co.uk/finance/newsbysector/industry/8180304/JP-Morgan-revealed-as-mystery-trader-that-bought-1bn-worth-of-copper-on-LME.html   [2010]
      “It is estimated that if the copper funds are fully subscribed they would be looking to buy more than half the total stocks in LME warehouses. Traders’ concerns are based on the ETF model that will require the investments to be backed by physical metals, such as copper, lead, aluminium and nickel, rather than paper assets offered by futures contracts.”
       
      If you see one of these in circulation, REJECT IT!!!

    • … but they will probably try giving us all one of these first ….
       

    • …one of these…
       

  9. Bingo  that’s the currency I was thinking of but got distracted by the western-centric examples of  FIAT world reserve currencies, starting around the 1500′s with Portugal.  China had already been down that road 100 years before.  What little I know of China in that era, they global footprint was huge compared to the dark ages of Europe.  With their history and culture plus economic size they would be a good example
    It’s deliciously ironic that the  best definitive text about that era costs $4,000.  The western world doesn’t need to have the truth hidden or avoid  reading up on that subject. Just make it so high priced that no one but the top eschelon can read it.  They probably have read it and know what will happen with our Flying money. 
    I’d stack that book too.  My quest will be to find a copy of the book at a price that’s affordable and make it available to the anyone who wants to read it.  That would be a heck of an investment.  I’ll see what I can find out.  Do you have the name of the books.
    I am still trying to find reasonably priced copper supplies in northern Nevada. Nothing yet but that search continues.

    • In the late 1300s, Marco Polo recounted that the Chinese civilization on the whole was living a far more luxuriant lifestyle than any in the European realms and was the very first to report the use of a paper ‘money’, for which he was ridiculed. The many samples he’d brought back were discarded as mere contrivances to enhance his wild tales, or outright burned as ‘devil’s scrip’. And, yes, the voyages of Zheng He right around the same period, are recently appearing to have ranged as far as North and South America through discoveries of pictographs drawn by natives, illustrating the unique shape of the ‘Chinese Junk’ design.

      Here’s the book I’d referred to … (http://eh.net/book_reviews/monetary-history-china)

      “Anyone who claims to know the history of civilization must know something of the history of China. Even so, Peng Xinwei’s monumental book, published almost half a century ago in Chinese and almost two decades ago in English translation, has remained obscure among economists. The translation, the only version likely to be accessible to most readers outside of China, seems never to have been reviewed in any economics journal or Web site, though it is known to historians and numismatists who specialize in China. I am therefore writing to call attention to a work that has few peers as a feat of scholarship in monetary history.

      Peng Xinwei (1907-1967) studied economics at the London School of Economics and apparently also studied or lived in Japan at some point. Before the communist takeover of China in 1949 he worked as a banker; afterwards, he taught economics at Fudan University in Shanghai. The first edition of his book appeared in 1954. He finished revising the third edition in 1962 and it was published in 1965. He died as one of the hundreds of thousands of victims of Mao’s great bonfire of Chinese civilization, the Cultural Revolution. Edward Kaplan (1936-2006), the translator, was an associate professor of history at Western Washington University. The translation, an impressive feat of scholarship in its own right, was published by the university’s Center for East Asian Studies, from which it remains available.

      The book spans the whole of Chinese monetary history from centuries before the birth of Christ to the end of imperial rule in 1911. Had Peng written about the republican period, his life might have been cut short even sooner. Peng sprinkled some Marxist catch phrases about feudalism, imperialism, and colonialism into his writing, but they are merely protective coloration and do not affect his analysis, which is far more influenced by Carl Menger than by Karl Marx.”

    • It’s also ironic that saltpeter technology was derived from Chinese peaceful fireworks which was a form of art, and once again all the Western world could dream about was using it in weapons. Then used it to blow apart Chinese ships in the Opium wars and force Opium into their culture even more than it already was. This is one of the reasons that I can’t stand it when people look at the Chinese as the biggest force for Evil in the world, when it has been the West that has used underhanded techniques to dominate the world, and the Chinese have NOT done this before the Cultural Revolution (Which was an injection of a Western Marxist Economic/Cultural Suicide Pill) and history shows that they were some of the most peaceful traders in history.
       
      The US with it’s Carrier squadrons and Drone Swarms, and neo-colonialism (Commercialism) point to China and denounce their seeming need for a blue water navy as aggression … how about, they are being forced to build a Navy by something that is even trying to push it around in the South China Sea. The US dominates ALL the oceans, and has the audacity to tell China what to do in its own pond. If they are building a navy they are doing it because their major debtor has been treating it like a Pimp treats one of his harlots.
       
      Great info Pat. I had no idea about Flying Money … Chinese culture and history is almost non existent in Western literature, and WE are the worst for it … we could have used it as a defense against the Central Bank model.

    • WillNotBeASlave … “It’s also ironic that saltpeter technology was derived from Chinese peaceful fireworks”

      Explosive and incendiary rockets to burn ships and propel spears and arrows farther, are ‘peaceful’? Don’t fall into the phony meme that (excluding Euro-Mediterranean, aka: ‘Western’) ancient civilizations were ‘peaceful’. ALL civilizations globally have ALWAYS experienced conflicts of interest that their plain thieving covetousness and/or expansionist self-aggrandizement compelled them to war over.

      My senses toward China are similar to yours, in that I deduce (so far) that its acts have exhibited more defensive preparations than offensive. Once the ‘Empire’ was consolidated under Qin Shi Huang (‘Chin’), it hasn’t projected territorial expansionism, but a relentless effort toward TRADE expansionism, most especially in the Asian region. It’s estimated that the military/transport flotilla of Zheng He was the largest and most powerful (for its time) EVER sent to sea TO DATE, yet its SOLE mission was to promote and negotiate trade!

      “Great info Pat. I had no idea about Flying Money”. Yeah! It was THE FIRST virtualized paper ‘money’ in history, which is why I try to learn as much as I can about its morphology from specie to conceptual and back to specie format. It’s provided me with some insight into the simile now attempted around the world.

  10. WillNotBeASlave   This site is a good place to exercise some writing skills.  FaCIAbook, texting, texspeak, neologistic drivel (OMG  i c u r )are painful. Soon enough we’ll be reduced to grunting button pushing capachino monkeys. Like George Jetson but without skyhigh apartments, jetpacks and robomaids
       If you plan to channel your inner Chaucer please be sure to use the modern style of ‘f’ and ‘s’. 
    BTW,  ’Greenfleaves if a nice fong’ is hard to read, IMO  (sorry, I couldn’t help myfelf)
    Keep bringing those history lesson into the dialogue WillNot and Pat. 

  11. Pat  I’ll poke around to see about finding a copy of this book. Paperback is $50  all rights reserved except by republication  by a non-profit with attribution to author.  what is the $4,000 edition made of?  Gold plated dork skins?

  12. Are you certain that’s the same book? By the same author?

    When I did a search about a year ago, the E-Bay, Amazon, etc. copies were offered in that range, Could be they were first edition hardbacks. I also encountered a similar experience when I first looked onto Ed Vieiera’s ‘Pieces of Eight’. It took me four or five months of regular inquiry, but I finally snagged a dog-eared softback at 325 banknotes.

  13. A Monetary History of China by Peng.  $50 soft cover.  At that price it would be the equivalent of $250 hardback but appears to have been recently reissued with some editing.   Your link appears to be the book you speak about. Shuler and Kaplan are editor and translator. Soft back $50 Amazon has it with prices used $130 to new $350. Soft cover competition much has reduced the price considerably Google this an there are plenty of sources 2 volumes 950 plus pages.

    • Excerpt: “Published by EH.Net (July 2012)”

      Time is something of an ethereal thing with me, I really don’t pay much attention to it at all, so I could be wrong, but as I recollect, I first checked into this in maybe 2010 or 2011. This may be an update to the original review, or I can guarantee you, I’d have one of those paperback copies because I was flush enough in July ’12 to have afforded it.

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