Federal Reserve wont let Germany see all its gold...lolol

[Mr.1derful]

Imbecile. 

X2

[Wiggs]

you realize that without fiat money we would be stuck kinda far back in time?esp the usa wouldnt exist as it does today.

are you saying there were no financial meltdowns before fiat currencys?

USA wouldn't exist if it wasn't for slavery. FACT!

[Mr.1derful]

You are missing the point.
Try this, without the existence of money, how much is gold worth?

See, not a lot, its money that has the worth, not the gold.
It's the medium of exchange.
If you had a big bar of gold the first thing you would have to do for it to have any value is exchange it for cash.   

Gold is money, the dollar is just currency.

[Bam-bam]

Over thousands of years gold has proven to hold it's value versus the price of commodities. It is the most convenient and stable medium of barter that the world has ever seen. Financial meltdowns are created by fiat currency.

rofl, so let me show you a gold chart for the first time in your life.

As you can see, if you bought gold exactly 1 year ago you would be losing around 40% of your capital. Basically 3+ DECADES worth of inflation right in your culo in just 12 months. Great "value reserve" commodity...  

Numbers dont lie, gold is one of the most volatile shits you could ever trade. And you dont know jack.

[tu_holmes]

USA wouldn't exist if it wasn't for slavery. FACT!

the USA wouldn't exist if it weren't for a great many things.

Groups have been enslaving other groups since the dawn of time... It just happens much more infrequently today on a grand scale.

[Bam-bam]

you realize that without fiat money we would be stuck kinda far back in time?esp the usa wouldnt exist as it does today.

are you saying there were no financial meltdowns before fiat currencys?

haha its funny because galeniko knows his shit about a very broad range of different topics. There is something suspect about his background, or he maybe he is just smart.

There are plenty of reasons that fiat currency is superior to gold. One of them is that monetary supply must grow at the same pace of GDP. If monetary supply is stuck we would have DEFLATION. And deflation is 10x worse than inflation if you dont know. Since we cant controll well the supply of gold it is totally harmfull to a healthy growth of economies.

[Bam-bam]

USA wouldn't exist if it wasn't for slavery. FACT!

you wouldnt exist if it wasnt for slavery. FACT!

[Mr.1derful]

rofl, so let me show you a gold chart for the first time in your life.

As you can see, if you bought gold exactly 1 year ago you would be losing around 40% of your capital. Basically 3+ DECADES worth of inflation right in your culo in just 12 months. Great "value reserve" commodity...  

Numbers dont lie, gold is one of the most volatile shits you could ever trade. And you dont know jack.

Show a gold chart over the last 12 years, then what do you see?   

[99 Bananas]

Ukjeff is a fuckin retard.

http://geology.com/minerals/gold/uses-of-gold.shtml

Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

[Bam-bam]

Show a gold chart over the last 12 years, then what do you see?  

Dude, gold goes up and down. So does oil, so does the DOW.  Thats the point. It oscilates just like ANY other commodity. If you buy gold you are buying an asset with a very high volatility, even higher than the usual stock indexes.

Its a SPECULATIVE play, not a safe harbour. Why is it so hard to understand that?

[Wiggs]

the USA wouldn't exist if it weren't for a great many things.

Groups have been enslaving other groups since the dawn of time... It just happens much more infrequently today on a grand scale.

Wow, listen to the excuses just pour in. Pathetic. You got defensive after I stated a fact, why is that? And the fact is If slavery hadn't started and worked, there'd be no America. Period Dot. It is what it is, and you're legitimizing it with excuses to make yourself feel better. Wrong is wrong.

[ProudVirgin69]

Have fun while you have them old man, because you can't bring them to hell with you.

Judge not lest ye be judged.......... negro

[Wiggs]

Judge not lest ye be judged.......... negro

I prefer Hebrew.

[Yev33]

you realize that without fiat money we would be stuck kinda far back in time?esp the usa wouldnt exist as it does today.

are you saying there were no financial meltdowns before fiat currencys?

You are correct, the USA would not exist as it is today without fiat currency, it would be better off. By the way fiat currency and fractional reserve banking go back a thousand years, but it has been taken to whole new level in the last century. Financial booms and busts happen due to expansion and contraction of the money supply and believe me there is a great amount of wealth to be accumulated in either scenario.

[RagingBull]

How much gold is there in the world?

http://www.bbc.co.uk/news/magazine-21969100

Try again
How much is an ounce of Gold worth.

Lol at "rarity"

[Yev33]

rofl, so let me show you a gold chart for the first time in your life.

As you can see, if you bought gold exactly 1 year ago you would be losing around 40% of your capital. Basically 3+ DECADES worth of inflation right in your culo in just 12 months. Great "value reserve" commodity...  

Numbers dont lie, gold is one of the most volatile shits you could ever trade. And you dont know jack.

Wow 12 whole months, what a sample! Why don't you take the last couple hundred years and see how much steel, wheat, coal etc., and ounce of gold bought you. Then compare that to dollars. Your understanding of the financial system is the same of a 10 year old getting a weekly allowance.

[Bam-bam]

Wow 12 whole months, what a sample! Why don't you take the last couple hundred years and see how much steel, wheat, coal etc., and ounce of gold bought you. Then compare that to dollars. Your understanding of the financial system is the same of a 10 year old getting a weekly allowance.

So you are going to tell the dudes that bought gold last year and are losing FOURTY FUCKING PERCENT of their savings to not worry because gold is "safe" and 12 months is too short of a sample? roflcopter

no matter what bs excuse you throw at it, there is no way something that can make you lose 40% in a year can be considered a safe bet. no fucking way.

It is the equivalent of you holding dolares for 12 months and the inflation rate shots up to 40% year. It is just crazy and it *never* happened during the whole history of the american currency. Never.

Holding dolars is much more safe than holding gold, period.

And you retards cant even grasp a very simple mathematical concept called historical volality. What a shame.

[Roger Bacon]

Wow 12 whole months, what a sample! Why don't you take the last couple hundred years and see how much steel, wheat, coal etc., and ounce of gold bought you. Then compare that to dollars. Your understanding of the financial system is the same of a 10 year old getting a weekly allowance.

EXACTLY

[Mr.1derful]

Dude, gold goes up and down. So does oil, so does the DOW.  Thats the point. It oscilates just like ANY other commodity. If you buy gold you are buying an asset with a very high volatility, even higher than the usual stock indexes.

Its a SPECULATIVE play, not a safe harbour. Why is it so hard to understand that?

Now you're back tracking.  What did gold do over the last 12 years?  Answer the question.  It will refute your attempt at discrediting gold's store of value by limiting the scope to just the last year.  Gold has been a store of value for thousands of years.  Why is it so hard to understand that?   Since 1913, the dollar has lost 97% of it's value.  How's gold done over that time?  You keep your dollars, I'll keep my gold.

[Yev33]

haha its funny because galeniko knows his shit about a very broad range of different topics. There is something suspect about his background, or he maybe he is just smart.

There are plenty of reasons that fiat currency is superior to gold. One of them is that monetary supply must grow at the same pace of GDP. If monetary supply is stuck we would have DEFLATION. And deflation is 10x worse than inflation if you dont know. Since we cant controll well the supply of gold it is totally harmfull to a healthy growth of economies.

Are you even remotely serious with this?

[ukjeff]

You keep your dollars, I'll keep my gold.

Your gold is worth fuck all without the ability to exchange if for dollars.
You have some gold, you want a house and car, without dollars it aint gonna happen.

Wake up mate.

[Mr.1derful]

Your gold is worth fuck all without the ability to exchange if for dollars.
You have some gold, you want a house and car, without dollars it aint gonna happen.

Wake up mate.

Tell that to Iran, who is getting paid in gold for its oil.  If and when I liquidate gold, I'll have more dollars in the end, than if I had held dollars all along.  You need to wake up.

[ukjeff]

Who in turn will exchange it for cash to buy what they need when the time is right.   

[Bam-bam]

Are you even remotely serious with this?

I could give you a very simple mathematical equation backing what I said but I wont.



get it and find out for youself, kid. Good night.

[Yev33]

So you are going to tell the dudes that bought gold last year and are losing FOURTY FUCKING PERCENT of their savings to not worry because gold is "safe" and 12 months is too short of a sample? roflcopter

no matter what bs excuse you throw at it, there is no way something that can make you lose 40% in a year can be considered a safe bet. no fucking way.

It is the equivalent of you holding dolares for 12 months and the inflation rate shots up to 40% year. It is just crazy and it *never* happened during the whole history of the american currency. Never.

Holding dolars is much more safe than holding gold, period.

And you retards cant even grasp a very simple mathematical concept called historical volality. What a shame.

The reason you saw that much short term volatility in gold is due to your beloved fiat currency you fucking imbecile.