Shanghai Just Replaced NYC as World’s Financial Center

[24KT]

China has a bubble in the housing market and the stock market.  However, their biggest problem is the government intervention in the economy.  The sooner they transition to a free enterprise economy with open markets, the more prosperous they will be.

Palumboism, this truly made me gawk, then laugh out loud. No disrespect intended, ...but that's funny.
I know you said China, ...but in all honesty, ...given the various faux pas and misguided efforts you speak of, one has to wonder what country you're really talking about. You can throw a dart at a map blindfolded, and unless it lands on an ocean somewhere, wherever it lands would be an accurate descriptor of what's taking place in that country at the moment. Wouldn't you agree? I mean, name me one country right now that doesn't have a bubble, or is not experiencing gov't intervention in his economy... whether that be Gov't intervention from within, or without, ...there really are no free markets left I believe.

[24KT]

Fine... let's make the bet even sweeter for you and see if you'll bite:

If the spot price of gold exceeds 2,000 USD at any point in 2015, then on January 15, 2016 I will give you a one ounce Canadian maple leaf.

If the price of gold does not exceed 2,000 USD at least once in 2015, then on January 15, 2016 you must pay me 1 USD. Alternatively, if you can't afford that, I will accept a post from you on this forum with the title: "I, 24KT, AM DUMBER THAN A BOX OF ROCKS."

And cut the crap about you not wanting "government gold". Aside from being a troy ounce of pure gold, the Maple Leaf is universally recognized and accepted – unlike your shitty plastic trading cards and there's no legitimate reason to not accept it other than not wanting to lose, as you know you will.

   You're right, ...that is very tempting indeed, ...but I will pass. 

Keep your eyes peeled for happenings in August, ...and Sept 23rd might prove significant.
Call it "Women's intuition", ...or maybe it's simply a case of too much anchovy pizza, but I'm content to see things as they play out, ...however they play out. It's all one big happy circus anyway right? G'night. ZZzzz

[avxo]

 You're right, ...that is very tempting indeed, ...but I will pass.  

Keep your eyes peeled for happenings in August, ...and Sept 23rd might prove significant.
Call it "Women's intuition", ...or maybe it's simply a case of too much anchovy pizza, but I'm content to see things as they play out, ...however they play out. It's all one big happy circus anyway right? G'night. ZZzzz

There you go... 24KT gold, who claims to "save" by buying gold by the tiny gram isn't willing to spent $1 to get a full troy ounce. She claims gold will hit $2,000 and I'm offering to sell her gold at $1. If she believes the shit she peddles that's a whopping 99.95% discount she just turned down.

And then she has the gall to tell us to watch what will happen then and this and that as if she has some special, mystical insight or insider information. What a load of bullshit.

Just like the gas pill nonsense, you are peddling a junk product that you know nothing about. You regurgitate, unprocessed, what your upline tells you and write off your many monumental gaffes. You suggest that people buy gold but can't explain why that's a good idea or what role gold plays in a portfolio. You don't give investment advice but are quick to suggest how money ought to be invested. You imply that your gold is, somehow, better and ignore all facts and numbers that prove the opposite.

You're a scam artist.

Or maybe - just maybe - you really do believe the shit you put on here. If that's the case, I pity you because someone is taking you for a ride which will end with you broke and forced to turn tricks in a corner to buy microwave ramen at the gas station. But you'll have nobody but yourself to blame.

[24KT]

There you go... 24KT gold, who claims to "save" by buying gold by the tiny gram isn't willing to spent $1 to get a full troy ounce. She claims gold will hit $2,000 and I'm offering to sell her gold at $1. If she believes the shit she peddles that's a whopping 99.95% discount she just turned down.

And then she has the gall to tell us to watch what will happen then and this and that as if she has some special, mystical insight or insider information. What a load of bullshit.

Just like the gas pill nonsense, you are peddling a junk product that you know nothing about. You regurgitate, unprocessed, what your upline tells you and write off your many monumental gaffes. You suggest that people buy gold but can't explain why that's a good idea or what role gold plays in a portfolio. You don't give investment advice but are quick to suggest how money ought to be invested. You imply that your gold is, somehow, better and ignore all facts and numbers that prove the opposite.

You're a scam artist.

Or maybe - just maybe - you really do believe the shit you put on here. If that's the case, I pity you because someone is taking you for a ride which will end with you broke and forced to turn tricks in a corner to buy microwave ramen at the gas station. But you'll have nobody but yourself to blame.

I see you haven't changed one bit.
Enjoy Yourself while you still can. Good Night.

[Palumboism]

Palumboism, this truly made me gawk, then laugh out loud. No disrespect intended, ...but that's funny.
I know you said China, ...but in all honesty, ...given the various faux pas and misguided efforts you speak of, one has to wonder what country you're really talking about. You can throw a dart at a map blindfolded, and unless it lands on an ocean somewhere, wherever it lands would be an accurate descriptor of what's taking place in that country at the moment. Wouldn't you agree? I mean, name me one country right now that doesn't have a bubble, or is not experiencing gov't intervention in his economy... whether that be Gov't intervention from within, or without, ...there really are no free markets left I believe.

Name ten US government run companies.  I know I could name ten Chinese government run companies.  America has a very free market system.  For example, look at how many foreign auto companies do business in here.  The same can be said for the electronics industry.
I'm suggesting China should try to make their economy as open as the United States. 

I realize we've had real estate and stock bubbles ourselves, but I think the Chinese have over built.

Here is a 60 Minutes clip on China's real estate bubble.

[pedro01]

I agree that "Actions speak louder than words", ...so instead of repeating myself yet again, I will simply continue doing what I'm doing... saving in gold. 

I don't believe you hold any significant amount of Karatbars.

I think you just take the DOLLARS they pay you as an affiliate.

Although I doubt you get much off that.

How about a photo of all your Karatbars? With a note by the side "see Pedro!"

[avxo]

I see you haven't changed one bit.
Enjoy Yourself while you still can. Good Night.

I see you're still all bark and no bite. I offered you a opportunity that has a tremendous upside and no downsize (best case scenario: you get a free ounce of gold; worse case scenario you pay $1 or make a post that costs you nothing!) and you refuse to take it and you still go on pretending to know things and to have faith in gold.

YOU ARE A SWINDLER AND A FOOL.

[pedro01]

I see you're still all bark and no bite. I offered you a opportunity that has a tremendous upside and no downsize (best case scenario: you get a free ounce of gold; worse case scenario you pay $1 or make a post that costs you nothing!) and you refuse to take it and you still go on pretending to know things and to have faith in gold.

YOU ARE A SWINDLER AND A FOOL.

She's not a fool - she doesn't own any  Karatbars.

She is a swindler though.

[pedro01]

That's where you and I have a difference of opinion.
To me Gold IS money. It always has been and always will be.
In order to meet the definition of money, the medium of exchange has to meet certain criteria, one of which is it has to be a store of value.

Paper currencies imo do not meet this criteria because they leak wealth, can be produced out of thin air, and are susceptible to inflation. Inflation steals our most valuable assets, our time, and our money.

While the PRICE of gold may change (as measured in fiat currency) it's VALUE has not. I draw a distinction between REAL VALUE & PERCEIVED VALUE

I AM

To me Gold IS money. It always has been and always will be.
In order to meet the definition of money, the medium of exchange has to meet certain criteria, one of which is it has to be a store of value.

Paper currencies imo do not meet this criteria because they leak wealth, can be produced out of thin air, and are susceptible to inflation. Inflation steals our most valuable assets, our time, and our money.

While the PRICE of gold may change (as measured in fiat currencies) it's VALUE has not. I draw a distinction between REAL VALUE & PERCEIVED VALUE

 

OK, I'll grant you using a sweater left room for confusion in my analogy. The point I was trying to make using that analogy was that the object (gold in this case) had gone on sale, ...not so much the object itself.

Savings are just that... savings. They are what's left over after consumption, ...not what Western media has taught us to believe. It's not buying at a discount, it is setting something aside, and not touching it. I'm not buying things with GOLD, ...yet. I'll use currency to buy things, ...while it's still being accepted. When fiat currencies are no longer accepted, if I have to, then I'll use GOLD.



Oh I don't know about that... If saving money produces an income, I'm going to continue to save money, ...along with acquiring the things this particular method of saving money allows me to acquire.

I just picked up a few little baubles...


I dunno... savings give me the warm fuzzies


Why do you guys keep insisting on inserting Gold into every thread?

I'm simply reporting that Shanghai has just replaced NYC as the world's financial center, ...and you guys bring up gold. Why is that? Is it because when you think of China, you think of Gold? Is it just a Pavlovian response on your part? Whatever it is, it's not very becoming. The only one who has so far appears able to stay on topic is Coach. If you don't like Gold, don't acquire it. It's really very simple. There's really no need to mock what you don't understand. As far as Shanghai goes, it has just replaced NYC as the world's financial center.

Here is what you do not understand.

Whatever the method of storing value, that value is down to perception only.

Gold as a store of value is purely down to perception. If people perceive it to have value, it will.

Problem is you are trying to argue that Gold is real money and that actual currency is NOT real money.

But the world perceives currency to be a valid store of value, therefore it is money.

It is ludicrous to  say that the currency that is exchanged in trillions each day is NOT money. It clearly is because everyone perceives it to be and agrees to trade in it.

Unlike karatbars, which the overwhelming majority perceive as "what the fuck is that?" and "is that even real Gold in there?".

Still waiting for a picture of your Karatbars by the way.... we both know you probably have less than $500 worth.