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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Hugo Chavez on September 29, 2011, 10:19:13 PM

Title: As opposed to the US dollar, gold investors worry gold isn't backed by anything?
Post by: Hugo Chavez on September 29, 2011, 10:19:13 PM

HUH?

LOL, priceless video:

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Title: Re: As opposed to the US dollar, gold investors worry gold isn't backed by anything?
Post by: Emmortal on September 29, 2011, 11:04:08 PM

Mind blown.

Title: Re: As opposed to the US dollar, gold investors worry gold isn't backed by anything?
Post by: kcballer on September 30, 2011, 10:36:05 AM

Poor articulation by the reporter.  That doesn't mean it doesn't hold any weight.  Gold is given value by what exactly?  Its scarcity and mans desire for it?  Anything we have of value could be questioned as to why it is indeed valuable.  US dollars included. 

Title: Re: As opposed to the US dollar, gold investors worry gold isn't backed by anything?
Post by: Hugo Chavez on October 01, 2011, 10:34:19 PM

Quote from: kcballer on September 30, 2011, 10:36:05 AM

Poor articulation by the reporter.  That doesn't mean it doesn't hold any weight.  Gold is given value by what exactly?  Its scarcity and mans desire for it?  Anything we have of value could be questioned as to why it is indeed valuable.  US dollars included. 

I kinda thought someone would say this.  It's true there is no promise of worth to gold, I mean aside from an extremely long history of retaining its value over time.

Yes, if the world were struck by a doomstay event and there were only a million people left, gold wouldn't be worth much lol...

Now look at the dollar, a long history of epic devalueation.  Yes, it's true, it's backed.  You'll at least get a fraction of it's value over time lol...