Gees where do I start , firstly you are absolutely delerious about the US economy , JUST SO YOU KNOW IT IS FUCKED BEHOND ALL RECOGNITION , it is not improving , it is going backwards at a rapid rate , the only thing holding it up is the printing press out the back room , yes thats right printing the equivalent of monopoly money , EXACTLY THE SAME AND THEN PRETENDING IT IS REAL , WHEN IT IS NOT. let me ask you this barnsy, what do you think is real worth in your hand , a kilo of gold or a fistfull of paper . You are correct that in general it is pretty useless and that I would agree with , but gold is REAL WEALTH .
Evrything we have ,comes from the ground , even solar power if you think about it further. gold is one of the most valuble purer sources from the ground iit is scarce and therefore more valuable , just like if silver was the more scarce metal it would be worth more.
There are rarer metals than gold and are more expensive , palladium is usually more expensive than gold but may be lagging right now, platinum is also considered the rich mans gold and it is usually more expensive but may be lacking right now. rodium is by far more expensive , you can have a look into these further .
To make you all undrstand what has happened with the economy evrywhere you need to do this . Imagaine what would happen if the australian goverment started up the printing press and began printing 24/7 . they then gave every man and woman over 18 years old one million in cash each . now while this is an exageration of what has happened ,it is pretty much what has happened since 1970.
So what would happen if this where to happen and evryone got their million , you will first see housing go through the roof ,you then see that it collapse after the spending spree has been spent and there is no real money left. this will show you what is actually happening right now, left right and cente.
my kid has just got home from work so I will have to leave it for another time ,all the best dave.
PS The US is fine. Sustained GDP and employment growth is near. The political will for higher taxes and decreasing debt isn't quite there but medium term it will happen and be dressed up as increased govt services to sell it to voters.
“You Keep Using That Word, I Do Not Think It Means What You Think It Means” - Inigo Montoya
I think that anyone who's actually looked at the numbers knows that the US is not fine. Living standards are falling rapidly and I think their economy will eventually collapse.
PS The US is fine. Sustained GDP and employment growth is near. The political will for higher taxes and decreasing debt isn't quite there but medium term it will happen and be dressed up as increased govt services to sell it to voters.
PS The US is fine. Sustained GDP and employment growth is near. The political will for higher taxes and decreasing debt isn't quite there but medium term it will happen and be dressed up as increased govt services to sell it to voters.
The US is on the verge of collapse. Higher taxes and decreased services will exacerbate the putrifaction.
It's just gold. There already is more than enough of it dug up to takke care of known uses indefinitely.
Every day is a day closer to its run being over.
Your seeing gold as needing some sort of industrial use.
The currency in your wallet, do they have an industrial use? Sure you could wipe your ass with them, but not much more.
Gold has been for thousands of years, money. That's it. Money. Something you exchange, store your wealth in...a bank account if you will. The fact that it has little industrial uses is perfect for it.
Then, we replace gold with something that can be created at virtually no cost, and we keep creating it. It's value is only there due to government legislation, and confidence.
I know your going to say, yeh, but I can put my money in a bank account and get interest. I can't do that with gold.
Well, in the US, you can get 1% maybe with your currency, but due to money printing, those dollars are being devalued (inflation) by much more than that. This is theft. Low interest rates and governments inflating the money supply to dilute the value of everyone's money. Sure, you can just cop it like the skinny guy in jail and wait for the good times that will be on us soon as the Keynesian economists tell us (such as CJ, Craig James and whatever other glorified salesmen are going around), but history has shown us, it ends up collapsing.
Having said all that, I do prefer silver over gold. It's long term ratio to gold is out of whack, plus it's industrial uses and it's increasing scarcity. I see big potential in silver.
I don't have all my money in gold and silver, I'm not a hard core end of the world, guns and freeze dried food kind of guy. I just think the risk of not owning a bit, is too great. Each to their own.
Having said all that, I do prefer silver over gold. It's long term ratio to gold is out of whack, plus it's industrial uses and it's increasing scarcity. I see big potential in silver.
Silver is not very convenient. You need about a ton of it to buy a house.
Your seeing gold as needing some sort of industrial use.
The currency in your wallet, do they have an industrial use? Sure you could wipe your ass with them, but not much more.
Gold has been for thousands of years, money. That's it. Money. Something you exchange, store your wealth in...a bank account if you will. The fact that it has little industrial uses is perfect for it.
Then, we replace gold with something that can be created at virtually no cost, and we keep creating it. It's value is only there due to government legislation, and confidence.
I know your going to say, yeh, but I can put my money in a bank account and get interest. I can't do that with gold.
Well, in the US, you can get 1% maybe with your currency, but due to money printing, those dollars are being devalued (inflation) by much more than that. This is theft. Low interest rates and governments inflating the money supply to dilute the value of everyone's money. Sure, you can just cop it like the skinny guy in jail and wait for the good times that will be on us soon as the Keynesian economists tell us (such as CJ, Craig James and whatever other glorified salesmen are going around), but history has shown us, it ends up collapsing.
Having said all that, I do prefer silver over gold. It's long term ratio to gold is out of whack, plus it's industrial uses and it's increasing scarcity. I see big potential in silver.
I don't have all my money in gold and silver, I'm not a hard core end of the world, guns and freeze dried food kind of guy. I just think the risk of not owning a bit, is too great. Each to their own.
I am sure you already know this.
Since Bretton Woods in the 70s, that status of gold has been changed forever - gold was no longer "money". That is, the paper money that we have in our wallets, is no longer backed up or convertible to gold. Paper money is established by government decree - to be the legal tender for the purpose of trade and exchange. The value (i.e. the purchasing power) of this paper money is determined by supply and demand, just like gold, despite how scarce the commodity is.
The weight you place on the intrinsic value of gold, is perhaps, misguided. Not saying you shouldn't hold gold, but my point is, it can become "worthless" too.
Since Bretton Woods in the 70s, that status of gold has been changed forever - gold was no longer "money". That is, the paper money that we have in our wallets, is no longer backed up or convertible to gold. Paper money is established by government decree - to be the legal tender for the purpose of trade and exchange. The value (i.e. the purchasing power) of this paper money is determined by supply and demand, just like gold, despite how scarce the commodity is.
The weight you place on the intrinsic value of gold, is perhaps, misguided. Not saying you shouldn't hold gold, but my point is, it can become "worthless" too.
Yea. Understand what your saying, but the abolishment of the Bretton woods system is still such a short term experiment...40 years is nothing and if history is any guide, it will again revert back.
The Romans used gold, silver copper as money. The Roman empire had public servants, an army, even welfare. The Roman empire started spending too much money so they realised, they could mix cheap worthless metals with their gold and silver - to make it go further. The kept doing this and doing this and eventually the whole thing collapsed, and it was the actual gold and silver that had the value at the end.
We are just in a modern day version of this. I honestly believe it will collapse and we will revert to the price of all the gold in the world equals the value of the $ in the world. I just don't know when....It could be another 50 or 100 years.
Read Mike Maloney's Book Guide to Investing in Gold & Silver.
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