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Getbig Main Boards => Gossip & Opinions => Topic started by: Papper on October 25, 2015, 03:26:34 PM
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I can't remember if this has been brought up before.
So have you?
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Why would you?
Gold is only worth what someone will give you in cash.
Gold itself has no value apart from a cash exchange.
Try and buy a car with a block of gold.
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Hi William Devane.
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Why would you?
Gold is only worth what someone will give you in cash.
Gold itself has no value apart from a cash exchange.
Try and buy a car with a block of gold.
It's called bartering.
Bring me enough gold and I will give you a Buick Regal that puts both tires in the air at the race track.
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It's called bartering.
Idiot.
Bring me enough gold and I will give you a Buick Regal that puts both tire in the at the race track.
Only because the car dealer knows he can exchange it for cash dumbass.
Gold has a value placed on it by how much cash you can exchange it for, without an exchange for cash it may as well be a lump of shit.
People hoard gold in case the market crashes and cash drops in value.
Gold still has to be exchanged for cash at some point.
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I have some gold coins.
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Only because the car dealer knows he can exchange it for cash dumbass.
Gold has a value placed on it by how much cash you can exchange it for, without an exchange for cash it may as well be a lump of shit.
People hoard gold in case the market crashes and cash drops in value.
Gold still has to be exchanged for cash at some point.
Is there something wrong with you?
Things of value can be traded for other things of value.
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Is there something wrong with you?
Things of value can be traded for other things of value.
Gold has value because it can be exchanged for cash.
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Yes.
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Very minimally. Have more silver then gold currently.
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Yes.
If cash lost its value then so would gold.
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I've invested in Flex magazines.
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Gold has value because it can be exchanged for cash.
So can a loaf of bread.
Goodbye.
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Only because the car dealer knows he can exchange it for cash dumbass.
Gold has a value placed on it by how much cash you can exchange it for, without an exchange for cash it may as well be a lump of shit.
People hoard gold in case the market crashes and cash drops in value.
Gold still has to be exchanged for cash at some point.
Interesting. So when we had gold and silver coins as currency in the US (pre1964 and 1933) what "cash" exactly were we trading them in for?
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Nope. Just lead, toilet paper, and tampons for when the end times come....
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Simon not quite thinking his troll through in this thread.
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I've invested in Flex magazines.
Hahahaha
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Ive got about 7.5 mill in physical gold,not much but enough.
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The only way you can make money with gold is to trade leveraged futures contracts on a commodities exchange...and most don't make money at it.
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No, I don't. Here is a chart to show more info why.
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Interesting. So when we had gold and silver coins as currency in the US (pre1964 and 1933) what "cash" exactly were we trading them in for?
The coins were the "medium of exchange" and had a designated value, anything can be used as a medium of exchange as long as we all agree on it.
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So can a loaf of bread.
Goodbye.
Im not sure that helps you, but thanks anyway.
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Simon not quite thinking his troll through in this thread.
No troll at all mate
Gold is worth x amount of dollars, if we had no dollars gold would be worth nothing.
In a world of bartering who the fuck would want some Gold?
You cant eat it, its not really that useful for anything apart from jewellery and coating cables.
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If cash lost its value then so would gold.
nope. Cash can be printed in extreme amounts and thus cause inflation (money with no value). Gold is a finite resource and will increase in value if we get global inflation with printed money.
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nope. Cash can be printed in extreme amounts and thus cause inflation (money with no value). Gold is a finite resource and will increase in value if we get global inflation with printed money.
Great, so now you have a pile of gold, now, what do you do with it when you want a sandwich?
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Great, so now you have a pile of gold, now, what do you do with it when you want a sandwich?
Ok, listen up. If all cash money lost their value due to inflation, people would need a new finite resource, such as gold, diamonds or platinum to trade between each other, as a measurement of their wealth. In such a theoretical society, people would e.g. trade gold for sandwiches or other things. Society is so developed today, that if all paper money around the world suddenly became worthless due to hyper inflation (google zimbabwe and germany inflation), then we would not trade "a sandwich for a sandwich". We would use gold or another limited physical resource to trade with each other.
There is also the possibility that a new paper currency could be created, that had a fixed value. I think they did this in Zimbabwe after they had hyper inflation, but I am not sure.
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Ok, listen up. If all cash money lost their value due to inflation, people would need a new finite resource, such as gold, diamonds or platinum to trade between each other, as a measurement of their wealth. In such a theoretical society, people would e.g. trade gold for sandwiches or other things. Society is so developed today, that if all paper money around the world suddenly became worthless due to hyper inflation (google zimbabwe and germany inflation), then we would not trade "a sandwich for a sandwich". We would use gold or another limited physical resource to trade with each other.
There is also the possibility that a new paper currency could be created, that had a fixed value. I think they did this in Zimbabwe after they had hyper inflation, but I am not sure.
Yes, as long as the people had a faith in the gold, they would have to know they could trade that gold for something they wanted.
Now, picture a post apocalyptic future (mad max) how much would gold be worth?
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No troll at all mate
Gold is worth x amount of dollars, if we had no dollars gold would be worth nothing.
In a world of bartering who the fuck would want some Gold?
You cant eat it, its not really that useful for anything apart from jewellery and coating cables.
Gold is used in most electronic devices nowadays. I'd say it's largely unreactive properties give it worth in a digital age.
Strip the gold from your phone or computer and ask yourself what worth it has to you once they stop working.
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In one of those TEOTWAWKI situations that the internet loves to ponder, I'm going to agree with Be There here. Gold, silver, etc.... are only good till folks realize they have no easy intrinsic value. Once folks realize that the gold tchochkes they've managed to gather up have more perceived value than actual, that whole market goes out the window. If we ever get to that point, forget it, we're done.
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Gold has a precise monetary value placed on it yet we have zero idea about how much is floating around.
Sure we have bullion deposits but that doesn't take into account the amount that's mined and smelted down without it being accounted for.
And the value of gold wouldn't even alter if we found a block the size of mount Everest.
Man sets its price at whatever we see fit.
Saudi Arabia has very little gold reserves but it has oil and as such is wealthy.
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Gold has a precise monetary value placed on it yet we have zero idea about how much is floating around.
Sure we have bullion deposits but that doesn't take into account the amount that's mined and smelted down without it being accounted for.
And the value of gold wouldn't even alter if we found a block the size of mount Everest.
Man sets its price at whatever we see fit.
Saudi Arabia has very little gold reserves but it has oil and as such is wealthy.
But what's your point?
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Yes, as long as the people had a faith in the gold, they would have to know they could trade that gold for something they wanted.
Now, picture a post apocalyptic future (mad max) how much would gold be worth?
In a post apocalyptic future, people would trade goods or services, that had value in that context. Obviously nearly impossible to predict, but in a starving society, canned food would most likely be more valuable than gold. I would argue that supply and demand is one of the best indicators of what would be used as means of payment, and in a post apocalyptic society, guns or canned food would like be more sought after than gold or diamonds, since you could not really use them if Los Angeles was a battle zone and you just need to survive and find shelter and avoid men in bunny suits who talked about Jesus.
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Gold is only worth its weight in bee pollen
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They are now selling 24k Golden Butt Plugs for those that might need to quickly escape and hide their gold, one plug can be worth up to 50k+ of pure gold. Might be a pain in the ass to run like this, however it is better than having nothing.
(http://s3.amazonaws.com/shops.musiconelive.com/catalog/product/cache/7/image/9df78eab33525d08d6e5fb8d27136e95/b/u/butt_plug_1_2__1.jpg)
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But what's your point?
Golds value is established in currency which man makes and decides, which was my original point in this thread.
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In a post apocalyptic future, people would trade goods or services, that had value in that context. Obviously nearly impossible to predict, but in a starving society, canned food would most likely be more valuable than gold. I would argue that supply and demand is one of the best indicators of what would be used as means of payment, and in a post apocalyptic society, guns or canned food would like be more sought after than gold or diamonds, since you could not really use them if Los Angeles was a battle zone and you just need to survive and find shelter and avoid men in bunny suits who talked about Jesus.
Exactly.
So why do you keep banging on about gold having value?
Gold is only of value as long as we have a medium of exchange to exchange it with.
Two tonnes of gold in your backyard is only any good to you as long as you can ultimately exchange it for cash to buy the goods you want.
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Golds value is established in currency which man makes and decides, which was my original point in this thread.
So originally you asked why buy gold, then later say it's worth cash....
Erm, buy gold and hope to be able to sell it when it's worth more cash than you paid? I'm not sure why you're questioning it.
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Exactly.
So why do you keep banging on about gold having value?
Gold is only of value as long as we have a medium of exchange to exchange it with.
Two tonnes of gold in your backyard is only any good to you as long as you can ultimately exchange it for cash to buy the goods you want.
we agree, so let's just stop the discussion here. :)
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we agree, so let's just stop the discussion here. :)
And as such it makes your quote of me in the other thread look a bit silly now doesn't it?
;)
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So originally you asked why buy gold, then later say it's worth cash....
Erm, buy gold and hope to be able to sell it when it's worth more cash than you paid? I'm not sure why you're questioning it.
and you always have to exchange the gold for cash for it to have any worth, so, what has value, is it the gold or the cash?
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Exactly.
So why do you keep banging on about gold having value?
Gold is only of value as long as we have a medium of exchange to exchange it with.
Two tonnes of gold in your backyard is only any good to you as long as you can ultimately exchange it for cash to buy the goods you want.
You are arguing against 5000 years of history in which gold is considered a store of value, wealth and money.
You're obviously trolling. If you don't believe in gold and silver, don't own any.
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You are arguing against 5000 years of history in which gold is considered a store of value, wealth and money.
You're obviously trolling. If you don't believe in gold and silver, don't own any.
To the man on the street gold is only worth what you can exchange if for in cash.
Why do you keep missing the obvious?
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I wisely invested in an eight piece top and bottom. Not only am i rich but i gets all da bitches.
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(http://www.emok.tv/wp-content/gallery/emok_picdump_420/thumbs/thumbs_EMOK_Picdump_420_005.jpg)
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and you always have to exchange the gold for cash for it to have any worth, so, what has value, is it the gold or the cash?
Both or neither. Since cash only has any value if somebody accepts it in exchange for something else.
Cash is a concept. It's not truly worth what it promises to be. It's a system that only works if people put trust in it. If everybody in the world tried to empty their bank accounts there would not be enough physical money available to meet the demand.
So both gold and cash only have worth (in a monetary value) based on a promise of worth.
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To the man on the street gold is only worth what you can exchange if for in cash.
Why do you keep missing the obvious?
I'm not missing anything. Cash will be good directly after a collapse, but it's not a tangible asset. If the entire financial system collapses, cash won't buy you anything. I will say this... if the US got fucked back to the stone age, a can of spagettios or bullets would most likely be worth more than gold.
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Both or neither. Since cash only has any value if somebody accepts it in exchange for something else.
Cash is a concept. It's not truly worth what it promises to be. It's a system that only works if people put trust in it. If everybody in the world tried to empty their bank accounts there would not be enough physical money available to meet the demand.
So both gold and cash only have worth (in a monetary value) based on a promise of worth.
a bit like gold?
as for emptying their bank accounts, same goes for gold, there is more money than gold.
Shouldn't it be that a country can only print enough money based on its gold supplies value?
They don't.
Money is just a concept, people have faith in it so it works,m people have faith in gold, that why we use it.
As countries trading gold is an option, as I said earlier gold is only good as long as it can be exchanged for cash to the man on the street (that's me and you).
all your gold eventually has to be turned into cash for you to buy anything with it.
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a bit like gold?
as for emptying their bank accounts, same goes for gold, there is more money than gold.
Shouldn't it be that a country can only print enough money based on its gold supplies value?
They don't.
Money is just a concept, people have faith in it so it works,m people have faith in gold, that why we use it.
As countries trading gold is an option, as I said earlier gold is only good as long as it can be exchanged for cash to the man on the street (that's me and you).
all your gold eventually has to be turned into cash for you to buy anything with it.
So you're saying gold is good. I'm still unsure why you question people investing in gold?
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So you're saying gold is good. I'm still unsure why you question people investing in gold?
No, I'm saying gold is useless, its the cash you get for it that's of use to you.
Im not telling anyone not to buy gold, I never have.
What I have said from the get go is that gold is worth how much cash you can exchange it for.
Go by a snickers with a block of gold.
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No, I'm saying gold is useless, its the cash you get for it that's of use to you.
Im not telling anyone not to buy gold, I never have.
What I have said from the get go is that gold is worth how much cash you can exchange it for.
Go by a snickers with a block of gold.
So you're saying something that can get you more cash than you started with is not of use? Interesting notion.
Also, never own a sweet shop if you'd refuse a block of gold in exchange for a 70p chocolate bar. ;D
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So you're saying something that can get you more cash than you started with is not of use? Interesting notion.
Also, never own a sweet shop if you'd refuse a block of gold in exchange for a 70p chocolate bar. ;D
Do gold prices always go up, does it always go up faster than other ways of investing like stocks and shares?
And don't go into a sweet shop with a block of gold if you expect to come out with a snickers and change. ;D
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Do gold prices always go up, does it always go up faster than other ways of investing like stocks and shares?
And don't go into a sweet shop with a block of gold if you expect to come out with a snickers and change. ;D
No, and you know this. But if you have spare money and patience it can pay off. It's not guaranteed, but can pay off which gives it use in a financial sense.
If I'm going to miss my anabolic window I'll gladly exchange one of my gold blocks in exchange for a snickers with no change.
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gold is a barbarous relic.
Nothing worse than idiot gold bugs. Most are just ron paul supporters with little to no common sense or ability to free think.
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No, and you know this. But if you have spare money and patience it can pay off. It's not guaranteed, but can pay off which gives it use in a financial sense.
If I'm going to miss my anabolic window I'll gladly exchange one of my gold blocks in exchange for a snickers with no change.
For the man on the street its simply not worth the hassle.
Buy gold hoard it for ten years, sell it , make a few quid, then take into account ten years worth of inflation, knock that of your profit??
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gold is a barbarous relic.
Nothing worse than idiot gold bugs. Most are just ron paul supporters with little to no common sense or ability to free think.
Are you with me or against me?
I'm not sure....
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gold is a barbarous relic.
Nothing worse than idiot gold bugs. Most are just ron paul supporters with little to no common sense or ability to free think.
Why do banks store/hoard gold bars in their vaults?
You're a free thinker?... please.
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Why do banks store/hoard gold bars in their vaults?
You're a free thinker?... please.
That makes sense when you have the Gold Standard, that went in the 1930s, it doesnt make as much sense now.
Better investing in property, way more intrinsic value than gold.
My parents paid £300 for their house, its worth around £100,000 now.
In 1963 that money would have bought them about 2 ounce of gold, today 2 ounce of gold is worth just over $2,300
Yep, buy gold guys, its a sound investment.
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(http://thedailycoin.org/wp-content/uploads/2014/09/ron-paul-silver-circle-520x245.jpg)
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(http://thedailycoin.org/wp-content/uploads/2014/09/ron-paul-silver-circle-520x245.jpg)
Magneto?
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Worst case with gold is if you don't need to sell it you can melt it down and make a fancy iphone case out of it.
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That makes sense when you have the Gold Standard, that went in the 1930s, it doesnt make as much sense now.
Better investing in property, way more intrinsic value than gold.
My parents paid £300 for their house, its worth around £100,000 now.
In 1963 that money would have bought them about 2 ounce of gold, today 2 ounce of gold is worth just over $2,300
Yep, buy gold guys, its a sound investment.
The fiat dollar you love has been greatly devalued since your parents bought that $300 crap shack. That's the main reason it takes so many more of those dollars to buy that same house today.
BTW, in 1963 gold was $35.25 an ounce. That $300 bought 8.5 ounces then, and is worth $10,500 today... a 3500% return on "investment".
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Didn't America give China a shitload of Tungsten Filled Fake Gold Bars years ago?
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Gold has value because it can be exchanged for cash.
So isn't that what is what currency is?
"Cash" is only valued cause other people accept it.
It's either paper or numbers on a screen and it can decrease in value by manipulation.
Gold is a form of long term investment with a good track record. I am no expert but I'm getting increasingly skeptical about having all my money in a bank and want to spread the risk.
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Worst case with gold is if you don't need to sell it you can melt it down and make a fancy iphone case out of it.
Or coat dumbbells and weights with it. :D
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gold bugs been saying the same thing for years. They claimed mass inflation when we are in a deflationary vortex.
Pure retards
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The fiat dollar you love has been greatly devalued since your parents bought that $300 crap shack. That's the main reason it takes so many more of those dollars to buy that same house today.
BTW, in 1963 gold was $35.25 an ounce. That $300 bought 8.5 ounces then, and is worth $10,500 today... a 3500% return on "investment".
You do realise your argument hasn't been helped by that post.
My parents house is worth £100,000 for that same £300 investment, a bit better than $10,500 wouldn't you agree?
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You do realise your argument hasn't been helped by that post.
My parents house is worth £100,000 for that same £300 investment, a bit better than $10,500 wouldn't you agree?
the housing market is a great premise to win any argument
low risk long term mostly guaranteed
gold by and large is what people invest in, in uncertain times
tends to be less effected than other transient investments
true story
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Who are these people? Morons throughout history have invested in gold. ITs to maintain your purchase power, its not an investment in the traditional sense.
Smart people buy cash bearing assets...real estate...equities....pri vate businesses...farm land etc.
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Who are these people? Morons throughout history have invested in gold. ITs to maintain your purchase power, its not an investment in the traditional sense.
Smart people buy cash bearing assets...real estate...equities....pri vate businesses...farm land etc.
If Gold is so worthless then why does the federal reserve hold on to so much of it? Is it a safe gap if the US dollar crashes to have an asset they can sell off?
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If Gold is so worthless then why does the federal reserve hold on to so much of it? Is it a safe gap if the US dollar crashes to have an asset they can sell off?
If the dollar crashes what currency would you accept for your gold?
If the dollar crashed other countries would pillage your gold at rock bottom price.
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The coins were the "medium of exchange" and had a designated value, anything can be used as a medium of exchange as long as we all agree on it.
where did the coins designated value come from? Why did a silver dime have a smaller value than a silver quarter. Here's a hint...its because of the amount of precious metal in it. Its the metal that gave value. The designation only helped to ease transactions so people weren't forced to weigh and test the metal's purity on their own. If it came weighed and stamped from a recognized "authority" like the San Fran mint people would be more apt to accept the coin.
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If the dollar crashes what currency would you accept for your gold?
If the dollar crashed other countries would pillage your gold at rock bottom price.
Actually other countries tried that. France in particular in the late 60s. That's why Nixon closed the gold window. All the gold we had gotten from our WW2 gaines was being depleted by countries because of the Brettonwoods act that said we had to have x amount of gold for x amount of currency in circulation. We needed to finance the Vietnam war so we printed a shit load of currency. Other countries saw what was happening and took advantage of being able to redeem dollars from us at $35/oz of gold. We couldn't let that happen so we closed the window and defaulted on our international obligations.
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You do realise your argument hasn't been helped by that post.
My parents house is worth £100,000 for that same £300 investment, a bit better than $10,500 wouldn't you agree?
Fiat paper money is constantly being devalued. You don't/can't seem to understand this.
The only "argument" is coming from you because you cannot understand what real money is.
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Gold isn't edible or very practical for building. It doesn't have much use for the common man.
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In 300 years nobody will be diving in the ocean for US dollar bills!
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Gold isn't edible or very practical for building. It doesn't have much use for the common man.
(https://s-media-cache-ak0.pinimg.com/736x/4e/c9/a1/4ec9a1e2e0dd980b3339c5e1415d7526.jpg)
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Gold did the Incas, Aztecs, and Mayans really well.
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The closer money comes to becoming 100% digital the more important having something physical like gold will be. Sooner or later the power is going to go out on digitized currency, banks will close the doors and people will require some sort of currency and resort back to things like silver and gold before paper money became the standard. I agree that in essence Gold is useless unless used for wiring or circuitry but you still need some sort of item to trade, unless you just have big guns and steal everything.
The best currency to have in a full out war are guns. No need to buy shit when you can just take it.
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Gold isn't edible or very practical for building. It doesn't have much use for the common man.
Of course, some of the finest housing are built upon paper bills as we all know. And who doesn't love a tasty soup out of quarters and nickels, really fills you up. Most practical things ever.