Don't Buy Gold

heeeeeeeeeeeeeeeeeeeeeeeres loki!

Who are you gonna believe, Time magazine or your own lying eyes?

meeping Gold Standard, how does it work?

COLLATERALIZED DEBT OBLIGATION STANDARD!

i understand collateralized debt much better than i understand this strange gold standard concept

Well, it's like this: nobody printed up half a trillion dollars in new gold this past weekend.

Who in their right mind wouldn't want to trust Wall St. with their retirement fund?

Who are you gonna believe, Time magazine or your own lying eyes?

it's gone up in value for five straight years...there's no end in sight!

16th century economy vs 21st century economy

time to hop on that e-gold

The stock market has risen for decades, fueled by exponential economic growth, in turn fueled by exponential growth of the production and use of fossil fuels. Now, production of those fuels grow slower and slower, the economy is in tatters as a result, and trust is dwindling.

Now instead of an exponentially growing economy, we have exponentially growing federal debt - $13 trillion at the moment, and growing at well over a trillion a year now. There are only 3 possibilities for that debt: the US can completely reverse course, and government income can exceed expenditures by a trillion a year instead of the other way around, and we pay that debt down (hah!); we can print like crazy and pay off the debt in massively devalued dollars, or we can default. I suppose a 4th possibility is that exponents don't matter, and the world will start lending us 10 trillion a year, then 100 trillion, quadrillions, etc.

A massive dislocation is coming, soon. It is obvious. Paper - dollars, stocks, e-Gold (which is paper not gold) - will revert to its natural value within our lifetimes: you can burn it for light and warmth.

Guns and meeper anyone?

(which is paper not gold)

which is just a shiny object, much like palladium, which for some odd reason doesn't have a bunch of neoconservative nut jobs going crazy

I prefer my metal to be shaped like bullets and am not really concerned with the type of metal used. Lead is fine. When this bullmeep economy pops like the giant bubble that it is, the value of bullets will skyrocket. I guess you could say that bullets are my hedge fund.

1 cubic foot of gold = 1,204 lbs

paper is inevitably a promise - it is a debt that is owed to you. gold, and palladium, and ammunition as well - are actual physical commodities. you are not relying on some lying thieving rat-meep banker to honor his promises sometime down the road when you own commodities.

bullets are an excellent store of value, but if you buy enough of them, a) you have a storage/safety issue, and b) the feds will probably come and kill you. not that it probably matters here and now, but 100 year old gold holds its value much better than 100 year old ammo as well.

i recommend both over the promissory notes of the money changers any day. gold has not lost over 95% of its value in under 100 years.

I like silver. I can afford to buy it a few ounces at a time, and nobody cares. I can also make cool viking jewelery with it, and nobody gives a meep when they find a stash of it. Gold, on the other hand, brings the interest of thieves, cops, and IRS.

Besides, you can't make silver acetylide or silver fulminate out of gold.

GOLD AND SILVER! GOLD AND SILVER!

gold is only valuable because people agree it's valuable...just like paper money.

this is factual and incontrovertible but for some reason it really upsets loki and his kind.

and, after all, you can totally feed a family of 4 for years on end with just a few ounces of that precious gold.

gold is only valuable because people agree it's valuable...just like paper money.

wholeheartedly agree (as that is basically the definition of a medium of exchange), but a) bankers can not create more precious metals (or any other real commodity) and thus dilute your holdings on a whim, and b) gold and its ilk have always been valuable, for all of recorded history. compare the list of paper assets whose value has gone to 0 to the list of precious metals whose value has gone to 0...

Deliberately obtuse; Dumb: 'gold is only valuable because people agree it's valuable...just like paper money. this is factual and incontrovertible but for some reason it really upsets loki and his kind.'

Also deliberately obtuse, but not quite as Dumb: 'and, after all, you can totally feed a family of 4 for years on end with just a few ounces of that precious gold.'

Wow. The opportunity to soar, but FAIL instead: 'wholeheartedly agree (as that is basically the definition of a medium of exchange), but a) bankers can not create more precious metals (or any other real commodity) and thus dilute your holdings on a whim, and b) gold and its ilk have always been valuable, for all of recorded history. compare the list of paper assets whose value has gone to 0 to the list of precious metals whose value has gone to 0...'

Only by a retarded insistence upon the most pedantic species of semantics could you find any validity in the assertion that, 'gold is only valuable because people agree it's valuable...just like paper money.'

Only by a retarded insistence upon the most pedantic species of semantics could you find any validity in the assertion that, 'gold is only valuable because people agree it's valuable...just like paper money.'

you are stupidface

Deliberately obtuse; Dumb: 'you are stupidface'

Really? Let's explore 'stupidface.'

Is it stupidface to assert that, 'water is only valuable because people agree it's valuable...just like paper money.'?

Or that 'freedom of conscience is only valuable because people agree it's valuable...just like paper money.'

Or that 'Health insurance is only valuable because people agree it's valuable...just like paper money.'

Or that 'Food is only valuable because people agree it's valuable...just like paper money.'

Or that 'The right to one's own life is only valuable because people agree it's valuable...just like paper money.'

Or that 'Air is only valuable because people agree it's valuable...just like paper money.'

Or that 'Education is only valuable because people agree it's valuable...just like paper money.'

Are all of these assertions stupidface? Certainly so.

Is 'gold is only valuable because people agree it's valuable...just like paper money.' stupidface for exactly the same reason? Absolutely.

Welcome to stupidface, stupidface.

loki. you are seriously comparing water and food to things like gold and education?

'water is only valuable because people agree it's valuable...just like paper money.'?

live without water for three days, then live without gold for three days and we can have this argument

'freedom of conscience is only valuable because people agree it's valuable...just like paper money.'

yeah throw in some abstract, indefinite libertarian bullmeep with 'food,' 'water,' and 'air.'

are you literally a robot?

Also deliberately obtuse, but not quite as Dumb: 'loki. you are seriously comparing water and food to things like gold and education?'

NO.

So now it's time to stop. Stop reacting and start thinking. What was I obviously doing in that last post?

Don't react . . . THINK!

Deliberately obtuse; Dumb--stupidface: 'live without water for three days, then live without gold for three days and we can have this argument'

NO. Make your stupidface point anyway.

Deliberately obtuse; Dumb--stupidface: 'yeah throw in some abstract, indefinite libertarian bullmeep with 'food,' 'water,' and 'air.''

Your judgment of abstractness and/or indefiniteness is irrelevant, but the fact that freedom of conscience is valuable (and valuable to everyone with a conscience, not just libertarians), is relevant to my point that your assertion is deliberately obtuse; dumb--stupidface.