GOLD

[lester1/2jr]

Everyone's second favorite Spandeau Ballet song is now at all time high




One thing people know about gold is that it's heavy. One ounce is not very much.



Typically, the price is reflective of the dollar supply, (and) inflation, and sometimes world events.


Anyone have any? I bought some during the Ron Paul campaign years. It's certainly gone up, but I didn't buy all that much.

[ER]

In a barter economy such as would rise in the wake of societal collapse, gold would have less value than garden tools, seeds, fish hooks, bullets, bleach. (Air rifles with a bucket of pellets are also extremely useful.) In various industries we are destroying silver at a higher rate than at any time in history, as opposed to gold, which is infinitely recyclable, so silver might become increasing valuable as time goes by, for one thinking long-term. When I bought my latest batch of Israeli bonds, the man who handled the transaction was talking to me about silver, and said Israel has been buying it in huge quantities in this century. Displaying gold, on the other hand, will get you knifed in the city, as it has a strange power over some people. Just ask the Aztecs.

[RCMerchant]

I own own not one piece of gold. Not a ring, necklace, coin- nothing.

[ER]

This fellow made four-hundred dollars from gold and loose gemstones he found vacuuming cracks in New York City sidewalks over the course of about an hour.



https://www.youtube.com/watch?v=TfrqUNFtM6A

[lester1/2jr]

In a barter economy such as would rise in the wake of societal collapse, gold would have less value than garden tools, seeds, fish hooks, bullets, bleach.

paper dollars are what would lose value

a "barter economy" would be pretty hard as tools and fish hooks might not add up to en even trade. Gold would likely re emerge as a medium of exchange, as it has been for thousands of years and also in the very recent past. https://en.wikipedia.org/wiki/Regression_theorem

That said, gold's price is not contingent on the end of the world as we know it. Central banks of virtually all countries have massive amounts of gold. They show the price on CNBC it's not some freakish outsider thing.


rc

I own own not one piece of gold. Not a ring, necklace, coin- nothing.

forget all the Scrooge Mcduck/ greed sort of associations. It's real money and was used as such for most of America's history

[LilCerberus]

Depending on the status of the remaining government (assuming there still is one), methinks the demand for energy would make oil the standard.....

[ER]

In a barter economy such as would rise in the wake of societal collapse, gold would have less value than garden tools, seeds, fish hooks, bullets, bleach.

paper dollars are what would lose value

a "barter economy" would be pretty hard as tools and fish hooks might not add up to en even trade. Gold would likely re emerge as a medium of exchange, as it has been for thousands of years and also in the very recent past. https://en.wikipedia.org/wiki/Regression_theorem

That said, gold's price is not contingent on the end of the world as we know it. Central banks of virtually all countries have massive amounts of gold. They show the price on CNBC it's not some freakish outsider thing.


rc

I own own not one piece of gold. Not a ring, necklace, coin- nothing.

forget all the Scrooge Mcduck/ greed sort of associations. It's real money and was used as such for most of America's history

Can't eat it, bro. Remember, in theory the political scale begins and ends at anarchy.

[Rev. Powell]

I've never understood investors' fascination with gold. It's kind of a cult with a lot of people. It has little intrinsic value, and is completely arbitrary as a "standard." If society or the economy collapsed, I guess it would have value because of its tradition as a medium of exchange--though assuming the infrastructure was still there, crypto might work better.  Lots of precious metals have more practical applications: platinum, palladium, silver, even copper.

Like bitcoin, people buy gold because other people buy it, and you can indeed make money off it. I've probably owned some through a fund at some point or another, although I don't own any now. I did own a lot of palladium (through a fund) but no precious metals or other commodities at this time.

[LilCerberus]

Oil.
The state of the current economy is a prime example.

"He who controls the spice controls the universe!"

[RCMerchant]

I could care less about gold. Or lots of money. As long as I can pay the bills and the occasional book, magazine, or comic-I'm good.

[LilCerberus]

Makes me wonder if antique comics would be legal tender......

[RCMerchant]

^ Are in my house! I sell something for old comics as payment! For an issue of Sgt. Fury #1, I'd sell my ass!  

[zombie no.one]

side note, but 'legal tender' doesn't mean what people think it means

any vendor can accept or refuse whatever they want in exchange for their goods and services.

I could set myself up with a hot dog stand and say I'm refusing cash/money, and only taking payment in the form of DVDs of Steven Seagal films. my hot dogs, my decision.

'legal tender' only becomes relevant if someone is settling a debt which a court has ordered them to repay... If they offer something classed as 'legal tender' to settle the debt (for example $$$ or £££), then whoever the debt is being repaid to cannot refuse it and ask for something different instead.

[LilCerberus]

^They started something like that in Brazil.... Barter clubs, and they were pretty successful at the time, but I don't know how they're doing now...^
Somebody tried the same thing in several American cities, but they couldn't gain enough interest......

[lester1/2jr]

Rev-  Gold might not have tons of "intrinsic value" but it has a lot more than paper bills. If you had German marks in a safe somewhere they'd be utterly worthless now.