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GOLD - A NEW RECORD!!!

3K views 19 replies 10 participants last post by  sjohnson 
#1 ·
A NEW RECORD!!!



KA CHING!!!

I be stylin' and profilin' tonight!!!

- Black Blade
 
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#3 ·
Is gold worth more or the $ less?
 
#6 ·
Mostly, the dollar is worth less.

The price of gold is the worldwide average of what people are willing to pay.

Since the amount of new gold added via mining is small, you can treat gold as a fixed resource. It doesn't have to be gold; anything that's rare, expensive to produce, and hard to counterfeit would work just as well. Diamonds, original Elvis Presley LPs, or moon rocks would be examples.

An increase in the price of gold in $US doesn't necessarily mean the US economy is failing; it could mean that other economies are improving. Mostly the former at the moment, I figure.
 
#7 ·
#8 ·
Yes Black Blade. Yes Sir..

I am 100% with you.. I am a mentor of your survival site. :rockin:
I listen too all you say..
My investment is silver. Little bit.
But we must understand.
When people start turning too gold and silver, over those green things they print. Uh. We got trouble Bro.
The FED bought back 70% of their own paper. Nobody wanted it.
Your young. You make your money. Good for you. I am not knocking you.
But..
Keep your bunker ready. This is not a good sign in the long run.
Who Will Buy Treasuries When the Fed Doesn?t? | The Big Picture
 
#11 ·
Sell now.

When the "Merde Frappe le Ventilateur" all the gold in the world won't buy you a canteen of water or a can of beans, let alone a decent weapon or some ammo. At least at my house it won't.
I think that is a very short sighted and foolish position to take. Gold has been a universally accepted medium of exchange for all of recorded human history and I don't expect that to change. None of us will ever be able to stock all the gear or consumables we will ever need and to cover all contingencies (unless possibly we are willing to live a very primitive existance) so there will always exist a need for some sort of stable currency. Gold has filled that role longer than anything I can think of.

Look at it this way, lets assume you have a well stocked bunker but one day you break your leg and need medical care. How would you pay for this medical care? I'm sure the doctor would want something more than thanks for fixing your broken leg, how would you pay him? There will always exist some form of currency and precious metals are the safest alternative as they are a compact form of wealth, they are all but universally accepted and they can't be made up out of nothing (like paper currency) so they are stable.
 
#12 ·
Historicalyl, gold has been used as money because there was a finite supply of it, it was impossible to counterfeit, it was compact and portable, and other than decoration, had no practical value.

Nowadays we sometimes use it as an anti-corrosive coating for electrical contacts and some odd things like coating the visors of spacesuits, but the rest is still basically true.

Here in the USA we think of gold as the basis for money; in most of European history gold was for decoration and silver was for money. The larger supply of silver made it easier to make change in transactions, etc., while the overall supply was still limited.

Paper money originally started as "letters of credit", but gradually people got the idea that the paper itself was the money, and eventually the "credit" part went away.
 
#13 ·
Historicalyl, gold has been used as money because there was a finite supply of it, it was impossible to counterfeit, it was compact and portable, and other than decoration, had no practical value.
...
Considering the ever-increasing production of gold, I don't agree with the finite supply statement. See GOLDSHEET - HISTORICAL WORLD GOLD PRODUCTION to see how worldwide gold production is increasing due to heap-leaching. At this time, we have an ever-increasing supply as well as an increasing dollar price.

I helped design some of the first heap-leach sites. We took over "spent" traditional mine "waste" and extracted the gold traditional methods couldn't reach. Almost pure profit and environmentally beneficial.
 
#19 ·
Same thing you do when you spend all your money, go broke or earn more. Kind of a dumb question when you think about it.

Barter is great as long as both parties can agree on a medium of exchange. Problem comes in when one party doesn't want what the other has to offer. That's where currency comes into play.
 
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