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27 comments:
Yeah, that's why I've loaded up on enough precious metals to be Fort Knox west.
I laugh at the "Gold Kit" being peddled on TV now. "Sell your old, useless gold..."
Sell?!? After how much I've made off of it and how much more I will make?!?
baaaaaaaaaaaa
Why is gold worth anything?
You can't live in it.
You can't eat it.
You can't drive it to work.
People aren't going to be buying jewelry. They will be buying food.
The central banks of the world have tons of the stuff sitting around doing nothing.
I have no doubt it will go up and I have a few pounds of it in collectable coins not for the gold I like the coins. However I think gold will go down pretty fast when people realise the above comments.
In a land of credit cash is king.
As it was in the Great Depression so will it be in the Greater Depression.
Also the government can confiscate gold again to prop up their fake paper just like the 1930's.
sequoia512
Exactly...we don't need to be sheep when we can be lemmings.
A candidate's radical ideas about taxes
Gravel calls for replacing IRS with a single national sales tax.
http://tinyurl.com/28ggkc
"However I think gold will go down pretty fast when people realise the above comments."
--------------------------------
I agree that it's paradoxical -- incomprehensible that something of so little practical value can be worth so much. (Not to discount the industrial and aesthetic uses for gold, but I'm pretty sure that they don't justify its high value, especially considering that gold was a store of value long before it had any industrial application.)
However, gold has been extremely valuable since the dawn of metallurgy -- thousands and thousands of years, and across every culture that has or had the technology to extract it. I don't see people waking up one day and saying "my God, what have we been doing?", and then all deciding to live in some type of Lemuel Gulliver world where gold has no special value.
I think that may people realize what you have stated in your post, but looking back at gold's long, long history, it doesn't really seem to matter.
Revelation 18:17:
In one hour such great wealth has been brought to ruin!
Amen!
"Why is gold worth anything?"
it really is amazing isn't it? it's such an old fashioned investment. i can understand in medieval times maybe, as it is 'liquid' and can be melted into different sizes and such, unlike, say, diamonds. and it is also pretty. however, how silly is it? it's pretty and 'rare' qualities are what determine it's worth.
this day in age, when we have fake gold and gold paint etc, why is gold even a contender?
why must we torture sheep (the animal) this way?
why is it sheep anyway, dont cows, etc follow each other in herds?
Why is gold worth anything?
You can't live in it.
You can't eat it.
You can't drive it to work.
_____
Ahhhh, but it is very very liquid. You can buy and sell it very quickly, in any number of ways, whether via physical bullion/coins, pool accounts, leveraged electronic accounts......
The thing you're leaving out is the FACT that GOLD has been regarded as THE ONLY REAL MONEY all over the world for THOUSANDS OF YEARS.
You think it will go down when people "realize the above comments", do ya?
Realize THIS comment: there has been an enormous amount of PAPER money created out of thin air, and there is only so much physical gold in the world, and more cannot be mined quickly and easily, and it certainly cannot be created out of thin air.
Let's review: there is LOTS of paper cash, and relatively little physical gold.
Let's not bother with economics...did you learn basic arithmetic in school? What is a big number divided by a small number?
ANSWER: A big number. New US Dollars are being created constantly, gold is not. Gold SHOULD be climbing steadily based on that alone, but it's not due to intervention by the powers that be. Soon, this game will fall apart and gold will rise monumentally, as it must and as it should.
Now please, please go read some books, magazines and economics web sites. You are in dire need of basic education.
The sheep are proud of going $500K in debt for a crackshack in Compton.
Cattle drivers leading the herd to slaughter. HaaHaa.
lampchops yummmmmmmmmmmmmm!
Yeah, if/when the shitze hits the fan and organized society melts down (as some of the people here seem to think it will), I'd rather have steel and lead around, i.e. a gun with bullets. Also, MREs and bottled water would be nice; heck, even ramen would be welcome.
But gold? Come now. So how do you make change to pay for a loaf of bread when you have a bullion? Oh, yeah, not too practical....
Gold? If so, then alot of the brutha's on the Eastside with all the grillz and gold teeth and chains are gonna be living even large. This could be the big revolution everyone's been talking about.
Sorry, but gold doesn't do it for me. Gold ain't going anywhere as a hedge against inflation, IMO. You'd better keep looking, if you're thinking gold is the answer.
Pople say sheep because of biblical reference "You are my flock", 'you are my shepherd',
It means to follow someone unconditionally.
If I blindly follow Jesus to slaughter, is he a Judas Goat?
I assay precious metals as a hobby for the last 8 years.The catalytic powers of gold are even better than those of platinum,but for some reason these are hidden.Golds refusal to oxidise even at 6000f is better than any of the Platinum Group metals,I have subjected it to treatments that will make Platinum dissappear,but this is never discussed in literature.
Gold is cheaper than PT by half but is not combined with Platinum for any catalytic reaction.Their are patents ,and processes that work with gold ,and Platinum alloys that are being ignored.These Processes work much more efficiently when Gold ,and Platinum are combined,and the companies that do it are invisible.Nitric Acid production Depends on Platinum catalysts,as well as Gasoline production,but You can't eat Platinum either.Gold is the mainstay of the hi-tech military machinery,not because it's cheaper,but because PT will oxidise before it reaches it's melting point,gold stays put.Their are many industrial secrets about gold,that we may never hear about,because if gold ever lived up to it's potential,the markets would crater,due to gold already being in short supply.I like Gold ,Silver,and PGMs,and I also Know how to buy it Cheap,so should you.
Historically speaking 16 parts of silver = one part of gold. Therefore, one must consider holding the undervalued liquid silver as well when the bush built scheitt sandwich commeth, and man she commeth.
Lemmings don't really do what you think they do. It is a product of a phony TV documentary in the 50's.
They do spread out considerably and like to have territorial patches.
But wait! maybe we are like the lemmings! Hey, I didn't JUMP into this mortgage/ocean, I was PUSHED! Yeah, that's it, I was PUSHED! I'm too stupid to read, but think I'm too smart of an investor! That lemming/broker PUSHED me!
Why is gold worth anything?
You can't live in it.
You can't eat it.
You can't drive it to work.
Here's an explanation from a guy called Alan Greenspan:
http://www.constitution.org/mon/greenspan_gold.htm
won't be long now before uncle sam says:
all your gold are belong to us!
To all the gold lovers I understand it as an investment and as I said I have some. Mostly old coins passed down withen my family. Along with some of the new ones my father bought. Some of which probably are worth quite a bit from a collector's point of view. My Great Grandfather was a banker and always kept really nice 5,10, and 20 dollar gold pieces from every year, as well as all the Silver coins and made sets.
However I own all the gold I want and wouldn't sell what I have as it has family sentimental value greater than its face value.
I prefer to short Harley Davidson, Some chain resteraunts, and moterhome manufactures. As they will likely go bankrupt soon especially moterhomes with $4 diesel.
As for financial education I sold my McMansion in 2006. I also was a self made millionaire by 40. Read the roaring 2000's its all you need to know. Harry Dent called the housing bust before the boom even started. He was wrong about the party lasting in stocks till 2009 though. However to much money went into housing that probably would have gone into the markets instead.
Finally I don't disagree with you about gold I just personally don't prefer it as an investment. For the above stated reasons. If it gets to bad all you will need is bullets and bread anyway.
Sequoia512
One last thing I could probably buy 25 lbs of gold at todays prices. I say about because I honestly don't know or care what todays price exactly is. However if it became so bad that I felt the need to buy 25 lbs of gold I would rather have 25 lbs of lead. Lead is cheaper and makes a better bullet
Sequoia512
We can gut the sheep - put on our new sheep clothing and be President Bush - or pretty much any political wolf
Here's an explanation from a guy called Alan Greenspan:
http://www.constitution.org/mon/greenspan_gold.htm
Yeah, I've seen that article, written by him back in the 1960's (I'm imagining he hadn't bought into the system then: imagine Greenspan in blue jeans and a tie-dye shirt, talking about 'flower power').
I don't think it says anything relevant to why YOU, as an individual, should buy gold: the article is about how countries moving from the gold standard to a fiat currency has effected economies.
BTW, that article is eerily prophetic, and dripping in irony, as Greenspan is pretty much the guy who gamed the system to encourage serial asset bubbles (first the dot-com boom/bust, then housing, and now back to the stock market).
Partly why Greenspan is not well liked around here, for good reasons....
I used to think like that but realized that for that to happen you are talking about the uber collapse. Until then cash will be king as government squeezes every last breath out of its lungs. If the shit REALLY hits the fan - your gold will be worthless as guns will rule the day. Why trade when I can take?
Ahhhh, but it is very very liquid. You can buy and sell it very quickly, in any number of ways, whether via physical bullion/coins, pool accounts, leveraged electronic accounts......
The thing you're leaving out is the FACT that GOLD has been regarded as THE ONLY REAL MONEY all over the world for THOUSANDS OF YEARS.
You think it will go down when people "realize the above comments", do ya?
Realize THIS comment: there has been an enormous amount of PAPER money created out of thin air, and there is only so much physical gold in the world, and more cannot be mined quickly and easily, and it certainly cannot be created out of thin air.
Let's review: there is LOTS of paper cash, and relatively little physical gold.
Let's not bother with economics...did you learn basic arithmetic in school? What is a big number divided by a small number?
ANSWER: A big number. New US Dollars are being created constantly, gold is not. Gold SHOULD be climbing steadily based on that alone, but it's not due to intervention by the powers that be. Soon, this game will fall apart and gold will rise monumentally, as it must and as it should.
Now please, please go read some books, magazines and economics web sites. You are in dire need of basic education.
June 19, 2007 4:59 PM
Adam said...
Here's an explanation from a guy called Alan Greenspan:
http://www.constitution.org/mon/greenspan_gold.htm
Yeah, I've seen that article, written by him back in the 1960's (I'm imagining he hadn't bought into the system then: imagine Greenspan in blue jeans and a tie-dye shirt, talking about 'flower power').
I don't think it says anything relevant to why YOU, as an individual, should buy gold: the article is about how countries moving from the gold standard to a fiat currency has effected economies.
BTW, that article is eerily prophetic, and dripping in irony, as Greenspan is pretty much the guy who gamed the system to encourage serial asset bubbles (first the dot-com boom/bust, then housing, and now back to the stock market).
Partly why Greenspan is not well liked around here, for good reasons....
June 20, 2007 7:45 PM
--------------------
Yeah, Greenscam is like the Darth Vader of central banking.
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