- Mr. Allen Swift ( Springfield , MA.) received this 1928 Rolls-Royce Picadilly P1 Roadster from his father, brand new - as a graduation gift in 1928. He drove it up until his death last year...at the age of 102 !! He was the oldest living owner of a car from new. Just thought you'd like to see it. He donated it to a Springfield museum after his death. It has 170,000 miles on it, still runs like a Swiss watch, dead silent at any speed and is in perfect cosmetic condition. (82 years) That's approximately 2000 miles per year...
Monday, December 27, 2010
It must be our greater level of education and intelligence compared to those simple Romans that has allowed us to overcome such silly notions of money being a store of value. Even America's founding fathers as recently as 1792 also held this primitive notion that any one debasing the people's money should be put to death.
Isn't wonderful we have managed to over come such primitive thoughts and the no doubt turmoil that a stable store of value must have reeked on the ancients.
Gold dipped to $1,373.20 an ounce early on Monday, from Friday's notional close of $1,384.25. By 2324 GMT, gold stood at $1,375.10. China's central bank raised interest rates on Saturday for the second time in just over two months as it stepped up its battle to rein in stubbornly high inflation.
Gold dipped to $1,373.20 an ounce early on Monday, from Friday's notional close of $1,384.25. By 2324 GMT, gold stood at $1,375.10.
China's central bank raised interest rates on Saturday for the second time in just over two months as it stepped up its battle to rein in stubbornly high inflation.
Dec 27 (Reuters) - Spot silver fell 1.2 percent to $28.86 an ounce, and spot platinum also fell 1.2 percent to $1,701.49 an ounce by 2341 GMT, after China raised interest rates on Christmas Day.
Spot palladium declined nearly one percent to $746 an ounce.
But America hadn’t recovered. In fact, the Fed’s palliative for the 2000 crisis, i.e. lower interest rates, soon created an even larger crisis, i.e. the 2002-2006 US housing bubble whose collapse caused global credit markets to contract and investment banks to fall,necessitating government intervention on such a massive scale it led to today’s sovereign debt crisis as private losses were absorbed onto public balance sheets; and, now, in 2010, the crisis continues to fester and spread.
Fed Chairman Ben Bernanke’s solution for our current problems is but a more extreme version of the Fed’s near fatal prescription in 2001, i.e. lower interest rates, but this time combined with a new iteration of voodoo economics, a witch’s brew called QE II, a monetary gesture as futile and impotent as a Hail Mary pass thrown by an atheist as time runs out.........read on