02/17/10 Tampa Bay, Florida – I got an email from Junior Mogambo Ranger (JMR) Steve, who writes about “a quickie from the show Pawn Stars”, which startled me into Instant Mogambo Alert (IMA) because I thought he said, “a quickie from the show Porn Stars”.
Alas, it was not, and it was, as the name implies, a TV show about the things that happen in a pawn shop where people who are desperately in need of a little money bring in stuff as collateral for a loan.
“A guy brings in,” Steve says, “an old gas pump from the 1960s. The price per gallon is 32 cents. I go to coinflation.com, and the metal in 32 cents from that time is worth $2.87 now. That’s pretty close to the price of gas per gallon today!!”
Naturally, my eyes were drawn to his highly-informative choice of punctuation, which was 2 exclamation points, instantly triggering another Instant Mogambo Alert (IMA) that, per plan, instantly alerts me, The Mogambo, to the fact that it has been quite a few hours since I was screeching insanely about inflation in prices that is destroying us all, a terror that will destroy us thanks to the despicable Federal Reserve creating so much money and credit (monetary inflation) that it made ruinous inflation inevitable, which can be easily deciphered to show that the Federal Reserve, which has already been described as “despicable,” is the terror that is destroying us all!
The whole previous paragraph is a weird, circular kind of logic, I admit, but it is exactly true, although with a strange construction and limited vocabulary, probably due to my natural stupidity, or perhaps because I am scared and paranoid about the Whole Freaking Thing (WFT) with the damned Congress deficit-spending us into bankruptcy and the damned Federal Reserve creating all the mountains of money that will be needed to be loaned to the government, and scared of the Federal Reserve itself as the Fed itself borrows the money to buy the Treasury debt for itself, and now the dollar has declined so much in value that the metal in three dimes and two pennies from the ’60is still worth a gallon of gas! Gaaaahhh!
You can instantly understand that I think the Federal Reserve is destroying us, which makes me wonder why people who say they want to “help” me want to know why I am always ragging on the Federal Reserve! Hahaha! I explain to them that inflation is the worst thing that can possibly happen to a country, as the entire corpus of economic history of the Whole Freaking World (WFW) proves over and over and over, until I am physically ill from reading it, and then I start puking up blood in horror when I see it happening to us! Gaaahhh!
Well, as usual, they nod their stupid little heads up and down like they understand what I am talking about, and they make little notes in my file, and they want to know if I hear any voices in my head “right now”, and I say, “no”, and then the discussion turns to why I am wearing an adult disposable diaper.
Why? It is obvious “why”!
But, with the heroic patience of a saint, I slowly and carefully explain to these bozos, “If you truly, truly understood the tragedy of high inflation that will doubtlessly follow such terrifying increases in money and credit, and the stupefying, unbelievable increases in money and credit around the whole stupid world, all to satisfy the insane deficit-spending of governments all around the world, then you would be crapping all over yourself, and after a couple times doing that, you’d be wearing a stupid diaper, too! But you don’t, and you aren’t, and you don’t some more, and it’s because you are all stupid, ya moron!”
Usually, my attempts to educate these halfwits means that my good intentions are all for naught, and instead of saying, “Hey! Thanks for the good information, Wise And Wonderful Mogambo (WAWM)! Now I know enough to vote against any moron who is in favor of deficit-spending by the damned federal government, a situation that means the loathsome Federal Reserve will, in a childish knee-jerk reaction with emphasis on ‘jerk’ to such monstrous demands for loans, blithely create the money and credit necessary to pay for it all, increasing the money supply and destroying us with inflation as all this money starts bidding for the available supply of goods and services!”
This response rarely (as in “never”) happens. Usually, the conversation immediately degenerates into a screaming match about who is the moron, and when it doesn’t, then they want to know why I am wearing the diamond tiara and the snazzy high-heels shoes, which means that now I have to spend my Precious Mogambo Time (PMT) to educate these bozos with tips on fashion, too! Jeez! See the kind of crap I have to put up with around here all the time?
Anyway, my Pedantic Mogambo Lesson Plan (PMLP) is, as always, to have the conversation wind up by showing them the necessity of buying gold, silver and oil to protect themselves against the inflation caused by the moronic federal government deficit-spending and the nasty Federal Reserve creating the excess money and credit.
Alas, the learning experience never gets that far because the morons think it is more important to call me nasty names and walk away instead of learning about how economics works, because if it did, then there would be a lot of people running around buying gold, silver and oil saying “Whee! This investing stuff is easy!”
The Mogambo Guru
Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning , and other fine publications. For podcasts featuring the Mogambo, click here.
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Eat lead, John Law! He’s the American who sold the idea of paper currency to the Sun King of France, who thought it was so wonderful he lost his head over the idea (literally). Result: the French Revolution.
you’re yelling “sinking ship!” while you your self is on it. just because you got life-vest(gold, silver, oil) it dont mean you’re “SAFE”. last i heard sharks dont care if you float or not.
the segue to ‘adult disposable diaper’ nearly sent me out of my seat from the unmitigated laughter
not to worry, I can get the beer wiped up from the screen
eventually
Welcome back, Mogambo! You were missed!
wiping tears of laughter from my eyes.
and mister-criticizer-person (M-C-P)… read up! MoGu relies not just on the precious metals, but also on the base ones…. like steel for the MoGu bunker and lead for those who tread to closely.
Never heard of bullet-proof sharks.
————-
MoGu…
something seems to be missing here:
“Usually, my attempts to educate these halfwits means that my good intentions are all for naught, and instead of saying, “Hey! Thanks for the good information, Wise And Wonderful Mogambo (WAWM)! ”
Instead of saying “…WAWM”… what happens then? What do they say or do instead?
Awww….forget it. This is enough:
“all to satisfy the insane deficit-spending of governments all around the world, then you would be crapping all over yourself, and after a couple times doing that, you’d be wearing a stupid diaper, too! But you don’t, and you aren’t, and you don’t some more…”
I don’t understand how Chris Mayer is positive about economic growth, Bonner is saying we have deflation now and for a long time, while this perverted dreg Mogambo is warning about inflation, all on the same website?!
Hey Mogu! I just bought my first 1.5kilos of silver bullion (3.3lbs) !!! I got it from here. Do you know anywhere better ? Thanks!!
http://www.bullionvault.com/#sutski123
Nice piece.
How about you do an ‘on the road’ to the defecit spend clown-cabal (Thoma, Harrison etc)
Could get you tenure somewhere!
Hey LAgirl,
you seem to like to appear very smart but then to even try to think for a minute on your own won’t come to your mind, won’t it?
Welcome back, great one.
I see that the IMF is celebrating your return by making lots of gold available to Junior Mogambo Rangers (JMR) so we can buy more of it!!!! Wheeee!!!!
Just how do you pay for gas with gold? I can’t imagine how they would give change after you bought milk and bread. Really if things ever got that bad the govt would declare marshall law and confiscate gold like they once did.
Roland,
John Law was a Scotsman not an American.
Silver_Swords,
What makes you think the Mogambo will stay aboard the sinking ship? Gold and silver can buy a fine boat (or heavily armed destroyer) and take its captian (The Mogambo) to friendly, economically stable ports while this ship sinks.
Florida IS situated near the Atlantic Ocean.
LAgirl
It is deflation now,
and when the Fed gets scared of deflation (Great Depression II)
it turns on the printing presses to combat the dowbturn.
We end up with deflation now and inflation/hyperinflation later.
That old geometric inflation curve starts out pretty slow for a while, and then explodes upwards. That’s why the young often don’t get it: they haven’t been around long enough to see it. To them, a $5 cup of joe, $3/gal. gas, $5/pack cigarettes, $30,000 cars, and $500,000/ 50 year adjustable interest only home loans are all ‘reasonable’. Not to mention government deficits and corporate bailouts in the trillions, and combined tax rates well over 50%. but they all have CNN to tell them what to do and how to think, so they’re all happy as clams. For now.
Monetary Inflation and the 32-Cent Gallon of Gas,what does it effect us really want to know more.
I think so! The “little wisdom” rules the world and it’s time to be aware to the economy dangerous. These are crazy times with the rising of the inflation and loans. Investing in gold bullion has now grown in popularity because all of that reasons you mentioned.… Gold is protection, insurance against inflation so “the bubble” will keep going and going. I just don’t know what’s going to happen in long term run.