Gold Stupidity

Wicked Ice

Wicked Ice

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Nov 11, 2007
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Seriously, stupid people must be banned from talking on TV.

[ame=http://www.youtube.com/watch?v=aWyrjwXoIqA]Gold Stupidity - YouTube[/ame]
 


From where Winston stood it was just possible to read, picked out on its white face in elegant lettering, the three slogans of the Party:
WAR IS PEACE
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH.
— George Orwell; 1984
 
Wicked Ice said:
Seriously, stupid people must be banned from talking on TV.
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I agree with her points actually. Gold can't be legal tender because countries with the most gold will have the most money (without actually providing value) and that's not how capitalism supposed to work.

US Federal Reserve for life!
 
When it comes down to it, gold isn't inherently a more logical investment than paper money is. One one hand you're putting value in a piece of paper, but on the other you're putting value in a shiny rock.
 
BluAffiliate said:
When it comes down to it, gold isn't inherently a more logical investment than paper money is. One one hand you're putting value in a piece of paper, but on the other you're putting value in a shiny rock.
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100% disagree


You can't print shiny rocks.


Those shiny rocks have been a form of currency, all around the world for thousands of years.


Paper backed by shiny rocks give the paper more credibility and more value, not the other way around.


China is buying all these shiny rocks, and mines. They are planning for a currency backed by gold. They are completely fed up with our paper.

Keep fooling yourself though.
 
BluAffiliate said:
When it comes down to it, gold isn't inherently a more logical investment than paper money is. One one hand you're putting value in a piece of paper, but on the other you're putting value in a shiny rock.
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Ah, paper beats rock. But then scissors beats paper, ie, when runaway inflation trashes your currency. :2gunsfiring_v1:
 
loyolabenson said:
100% disagree


You can't print shiny rocks.


Those shiny rocks have been a form of currency, all around the world for thousands of years.


Paper backed by shiny rocks give the paper more credibility and more value, not the other way around.


China is buying all these shiny rocks, and mines. They are planning for a currency backed by gold. They are completely fed up with our paper.

Keep fooling yourself though.
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Also, Gold has a lot of industrial uses. It's critical to the electronics industry for a start.

I'm surprised nobody here has mentioned in the non-precious metals. There's some much more interesting stuff going on with rare earths like Dysprosium (up 300% over the last year) at the moment. Of course, actually getting some exposure to those changes is the tricky part :)
 
loyolabenson said:
100% disagree


You can't print shiny rocks.


Those shiny rocks have been a form of currency, all around the world for thousands of years.


Paper backed by shiny rocks give the paper more credibility and more value, not the other way around.


China is buying all these shiny rocks, and mines. They are planning for a currency backed by gold. They are completely fed up with our paper.

Keep fooling yourself though.
Click to expand...


There isn't enough gold in the world to back a currency, Especially a huge economy like china. Infact the reason why our economies are so huge is because we aren't backed by a gold standard. All this explosion in economic growth is because of all this imaginary money.

I'm not saying a gold standard is bad. I just think it's too late for that now. If we went back to gold standard we would have to come up with some way to make it work without tearing down all the curtains and mirrors we've put up over the years. Not to mention our Trillion dollar budgets for military spending and everything that keeps us ahead of the world would disappear.

We're already to far into this shit swamp and it's too late to turn back so we just gotta hope there's land up ahead before we sink. And if we do sink, well then we could rebuild on a gold standard.


But all things aside I think gold is getting to a point where people realize that gold has always been so popular because there was always someone willing to take it in exchange for something. If the whole world economy collapses nobody is going to want gold. What are you going to do with gold rocks?

If your buying gold betting that the economy collapses and that your gonna be super rich in the aftermath you're stupid. I hope you buy some guns to protect that gold. If anyone still wants it if the world turns to shit.
 
erifdekciw said:
There isn't enough gold in the world to back a currency, Especially a huge economy like china. Infact the reason why our economies are so huge is because we aren't backed by a gold standard. All this explosion in economic growth is because of all this imaginary money.
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This.

Increase scarcity of money = increased poverty and the greater centralization of power. Whoever owns all the gold will own you too.
 
Bought some more today on the pullback. Continuing to add to my physical holdings held outside the U.S.

Everybody owns physical gold where I live, some more than others, but it's nothing unusual and you can easily use it for exchange (i.e. as "money").
 
erifdekciw said:
There isn't enough gold in the world to back a currency, Especially a huge economy like china. Infact the reason why our economies are so huge is because we aren't backed by a gold standard. All this explosion in economic growth is because of all this imaginary money.
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You are a retard. Read the line in bold above 97 times.

And read the rest of your sentences 95 times.
 
amateursurgeon said:
Also, Gold has a lot of industrial uses. It's critical to the electronics industry for a start.

I'm surprised nobody here has mentioned in the non-precious metals. There's some much more interesting stuff going on with rare earths like Dysprosium (up 300% over the last year) at the moment. Of course, actually getting some exposure to those changes is the tricky part :)
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I saw a chart that showed only around 1/3 of gold used was for practical reasons (electronics) rest was for jewellery. On top of that most of the world's gold is stored.

At its current price, all of the world's gold is worth more that 1/3 of the US stock market.
 
vgeek said:
Canadians, eh?
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Jeeta said:
This.

Increase scarcity of money = increased poverty and the greater centralization of power. Whoever owns all the gold will own you too.
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^^^ This.

A close friend of mine involved in gold, silver, diamond trading wanted to gain access to the LMBA as a market maker, essentially producing gold en mass (mines), refining it in switzerland and then pumping it into the market through the LMBA.

To this day he is still refused. Its near impossible. wonder why?
 
monies said:
I saw a chart that showed only around 1/3 of gold used was for practical reasons (electronics) rest was for jewellery. On top of that most of the world's gold is stored.

At its current price, all of the world's gold is worth more that 1/3 of the US stock market.
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ignoring 1/3 + the rest + most = more than 100, how is jewellery bad? People want it, the market supplies it.
 
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