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Gold Smash Leads to Surge in Demand For Coins, Bars Around World; Another buying window. Property investors need not apply
Topic Started: 24 Jul 2015, 11:56 AM (13,597 Views)
Jimbo
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Strindberg
25 Jul 2015, 08:14 PM
I don't think you are a goldbug in that sense. Seems you treat gold like any other investment. Fine.
Gold is like any other place you choose to park your time and energy. Sometimes up, sometimes down.

No asset class is immune from this basic rule.

If your mindset is that property always goes up, then you need to re-evaluate your mindset.

I have made money from property, stocks, bonds and gold. I have also lost money (but I am in front).

I bought and sold (mainly) at the right times.

It's not the asset that makes the money.

It's the timing.

Timing is everything.

Andrew Judd
25 Jul 2015, 08:10 PM
I am assuming you did not mean to write that so it was read literally?

All stored fiat has to be spent tomorrow?? Obviously not.

So what are you getting at?
In the sense that tomorrow is the future. The future starts in a nanoseconds time.

How do I pay for my healthcare?

I borrow against my house which has a theoretical value based on the current selling prices in my area.

Wayward Pines is pretty shit but the premise is brilliant.

Wake up people.
Edited by Jimbo, 25 Jul 2015, 08:40 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Andrew Judd
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Jimbo
25 Jul 2015, 08:29 PM

In the sense that tomorrow is the future. The future starts in a nanoseconds time.

How do I pay for my healthcare?

I borrow against my house which has a theoretical value based on the current selling prices in my area.

Wayward Pines is pretty shit but the premise is brilliant.

Wake up people.
>>>>We all believe that we have stored fiat waiting to be spent at some time in the future. But the reality is, that todays stored fiat has to be exchanged for real goods and services tomorrow.


So we all believe something about the future but in reality we all believe something about the future???
Edited by Andrew Judd, 25 Jul 2015, 08:53 PM.
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The Whole Truth
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In the future real goods and services are all that will count and there are only so many goods on a finite planet. They are all depleting at a fast rate too, that is why the average person can't have a hardwood white-ant proof house anymore, they must have a house made of pine treated with toxic chemicals. Their kitchen cannot be made from teak either, it has to be particle board, junk. Even discounting the debt everyone owes, the total retirement savings around the world would easily consume all the oil, copper, and other essential materials in existance, so at some point your money is either going to buy a lot less, or be wiped out in banking collapses.

You cannot grow forever on a finite planet. They don't teach that in economics courses but it's plain common sense.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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Jimbo
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Andrew Judd
25 Jul 2015, 08:52 PM
>>>>We all believe that we have stored fiat waiting to be spent at some time in the future. But the reality is, that todays stored fiat has to be exchanged for real goods and services tomorrow.


So we all believe something about the future but in reality we all believe something about the future???
In a nutshell, you could wipe out all debt on the planet and have a fresh start if you and everyone else were happy to give up their super.

It really is that simple.


The Whole Truth
25 Jul 2015, 10:53 PM
You cannot grow forever on a finite planet. They don't teach that in economics courses but it's plain common sense.
True, but man is programmed to believe otherwise. To The Universe And Beyond.
Edited by Jimbo, 25 Jul 2015, 10:59 PM.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Andrew Judd
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Jimbo
25 Jul 2015, 10:55 PM
In a nutshell, you could wipe out all debt on the planet and have a fresh start if you and everyone else were happy to give up their super.

It really is that simple.

That amounts to increased taxation, probably combined with different methods of collecting taxes, such as increases in capital gains and inheritance taxes, where somehow the poorer are more in control of the decision making process than the rich and powerful are.

Do you really think it will be that simple??
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Jimbo
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Andrew Judd
25 Jul 2015, 11:27 PM
That amounts to increased taxation, probably combined with different methods of collecting taxes, such as increases in capital gains and inheritance taxes, where somehow the poorer are more in control of the decision making process than the rich and powerful are.

Do you really think it will be that simple??
My take on this has always been that you have what you have and nothing more.

Theoretical value is simply a theory.

That is not doomster shit, it is reality.




Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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Andrew Judd
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Jimbo
25 Jul 2015, 11:37 PM
My take on this has always been that you have what you have and nothing more.

Theoretical value is simply a theory.

That is not doomster shit, it is reality.



what does that mean? Are you saying if your wealth passes to another you will be happy that your possession was just a theory??
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Jimbo
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Andrew Judd
25 Jul 2015, 11:40 PM
what does that mean? Are you saying if your wealth passes to another you will be happy that your possession was just a theory??
You work today for a loaf of bread. You save to buy a loaf of bread tomorrow.

But how do you save?

You can buy an extra loaf and freeze it.

You can put aside a token that equals a loaf of bread today.

But the reality is that the only edible loaf of bread that you have is the one in your hand right now.

It's a simple truth (and a painful one at that)
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be :?: rising.
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The Whole Truth
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All things considered the performance of gold here has been quite acceptable. I don't regard the falls since the peak as a crash myself, simply a correction from an intermediate high. Could gold go higher in real terms? Of course, especially with the collapse of financial markets like as happened in the GFC. . $1500 an ounce is a sound base.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
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Count du Monet
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Gold is the commodity that remains the most perfect monetary indicator that sqeals on creative accounting. Hence the CB's make such an effort to contain it. They alternately sell a stockpile to keep the price low, or build a stockpile to keep the price high. They cannot afford to let it float on the market according to normal rules of supply and demand. It costs little to store or transport. Lasts indefinitely and almost infinitely recyclable. Being a luxury good it is almost purely the purchase of surplus income. Money by definition is something that is surplus. And last but not least is almost infinitely liquid. For example it might take 6 months to realize the full value of a house sale, but gold can be liquidate on the day with minimal discount.

Only stringbean thinks a surplus of mortgages held by Hobo's is a surplus! :re: I recall once a Hobo tried to gift me with a comb because I gave him some money. Today's Hobo's are well dressed by comparison.

Since 1900 the amount of above ground gold has remained around 3/4 ounce per world capita. So the average persons purchase on gold remains the same as 115 years ago. So if money was still gold, wages would be largely the same nominal unit.

The 19th century did see a real rise in per capita gold from 3/8 ounce to 3/4 ounce as improved steam engines aided the pick and shovel. In the 19th century technology outran population growth by significant amount.
The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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