I Can't Believe You Think That Gold Has Value
What kind of idiot works that hard for that little bit of yellow metal? Why wouldn’t they just buy a nice little piece of paper called a dollar and bury it in their backyard? They could have received a nice 20 dollar bill back then for an ounce of that yellow metal and buried it safely away in their backyard and never worried about traveling to far away places like Alaska to mine that silly pet rock. Nowadays, instead of buying a couple of rolls of silver eagles, you could buy an iPhone and bury it in your backyard. Better yet, you could buy some 30 year Treasury Bills and bury those in your backyard with interest at 2% working yearly for you. Just think of the SAFETY AND THE RETURN. It just doesn’t get any better than 2%. Well maybe you could buy a JGB at NEGATIVE rates….now that really has to make you happy.
Just imagine that some people still think that something as anachronistic as gold could be a safe haven in a world gone mad. You could have held the Dow Jones 30 stocks for the past 60 years and “done great” (please ignore the little fact that most of those stocks are no longer in the DOW).
Okay Okay…. I’ll get serious. “The only stock to buy and hold in 2000 was Cisco Systems”. It was THE solid tech stock to own like Apple is today. It was a “Can’t MISS” stock that had to be in EVERYONE’S portfolio. Wow! How’d that stinker work out for you 16 years later? Glad ya didn’t buy gold then. You would only be 400% up in fiat dollars.
Its all a scam anyway. Gold will be worthless. Silver will be worthless. Hillary will take back our Republic for the people and the Yellow Brick Road will take you back to Kansas and safety. Enjoy the game. The past 6 months in miners is a mirage and you better buy Apple while there’s still time before the next great thing is hatched by that incredible inventor of the Apple watch that our intrepid, investor Buttfox wears on both wrists. They are the rage of all the trendies. You go Butt!!!
Source: http://kliguy38depression2news.blogspot.com/2016/07/i-cant-believe-you-think-that-gold-has.html
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Let’s see common sense, logic, & reason, along with SIMPLE MATH, told ME that a long, long time ago .!!.
Indeed and well said! You know who says gold is valuable? Gold dealers. Should the sh*t ever hit the fan and the economies collapse, there will be three things and three only that hold any value:
1. Weapons and ammunition
2. Food
3. Medical Supplies and Medicines
Paper money and items with no tangible use, are a waste. I can’t eat gold. I can’t shoot gold and I damn sure can’t take it for an infection or to wipe my *ss on. So why would I want it?
Thank you for saying this finally. Kudos to you!
Yeah, gold might be valuable again AFTER an apocalypse has happened, and the planet recovered.
DURING an apocalypse, what good will that gold be?
Let’s pretend the apocalypse has happened.
Lets say I have a farm. I have some animals, some people, and some crops. I grew enough for my family and friends, then you come walking up with your bag of gold.
You offer me some gold for some of my meat, milk, and vegetables.
Can I feed the gold to my animals?
No.
Can I feed the gold to my family?
No.
Can I use the gold to water my crops easier?
No.
Have I seen a bank to deposit that gold in in the last 5 years? Will I see one before I die?
No.
So what good is your gold then?
All you’re doing is gathering it up in one spot so that 100 years after you die and society recovers, its easier for the next person to find.
There are people that have more than 100 dollars in savings…….
You can’t do any of that with dollars either… What’s your point?
There are two components to the market values of precious metals.
1) Intrinsic values
2) Speculative values
Intrinsic value is the value the metal would have if there were no speculative value. That is its value is just a matter of supply and demand for routine purposes in industry like any other commodity. The intrinsic merits of gold are its ability to resist corrosion and conduct electricity. This makes it valuable as a material for pretty jewelry and for making fine wires and contacts in electronic circuitry.
Speculative value is the belief that the metal will at least retain its value and hopefully appreciate in value. Speculative value in metals is like speculative value in stocks. Investors hope that what they buy will be worth at least the same or more tomorrow than it is today. Stocks and real estate along with gold and silver have a long history of this.
Bubbles form when speculative value significantly exceeds intrinsic value. There is a long and sordid history of bubbles in stocks and real estate and precious metals.
Bubbles ALWAYS correct. There was a significant correction in the tech stock bubble around 2000. We saw a serious real estate bubble correction in 2007. Gold peaked about $2000/oz in 1980 and by 2000 was at about $350.It peaked again at about $1800 in 2011. Where will it go? Silver bubbled in 1979 and 1980 when it peaked at over $100/oz. After a steady decline it was about $6 by 1992.
All of this is variability is caused by speculation, not by changes in intrinsic value. Intrinsic value remains relatively stable based on a generally stable demand and steady supply. It’s speculation that drives the wild ups and downs.
So, when you buy a precious metal know that its present value is determined mostly by speculation and not by intrinsic value. Its price may vary wildly depending on the sentiments of the market, not by any fundamental supply and demand relationship.
Someone in this insane asylum actually said something sensible, about economics no less? Shit, all the doomtards must be right, this is clearly a sign of the apocalypse.
You can’t compare the two era’s. In 1980 the currency was still some what strong and the nation had some leverage with debt and interest rates. In 2016 we are drowning in government debt, the nations social obligations are exploding with aging baby boomers and illegal immigration and the currency only stays afloat because most other fiat currencies are crashing. Even though all markets are being manipulated and controlled to keep them above water this also means that the manipulators can sink them when it will benefit them the most. Gold , silver, bitcoin, land or other hard assets might not be a bad idea as a hedge against a time when the controllers want to play a different song.
Berwick is a fraud!
http://galtsgulchchile.com/wsb/data/documents/Berwick_Exposed.mp4
Thanks !
The teenagers here have to go…..that is all.
Experiment= Take a 1/2 or 1 oz gold coin or bar to McDonalds, The grocery store, the gas station, Walmart and try to buy things with it. What do You think will happen. I made my point. Have a Great Sunday Folks!
I bought 1 oz silver bars for $25 each. Ran into hard times after 07 and had to sell most of them. Did I get Spot price for them? No. Did I get Market price for them? No. I got $12.50 each for them. Thats when I learned to only precious metals to buy are 22LR, 9mm, 40 cal, 45 cal. And that has been a Solid Investment.
You’re looking at it the wrong way. Nobody ever said that Gold and Silver were investments. They’re not. They’re just a safe store of value because you can’t lose any money on them until you sell them. An ounce of Silver will always be worth an ounce of Silver no matter what. They’re not investments because they pay no interest or dividends.
The fact that you bought Ag @ 25 means you bought it around 1979. That was a bandwagon year where the typical investor was buying it and Au because it was going up because the Hunt brothers pulled off their futures/cornering the market scam. I was buying it before 79 but when I saw that bubble I got real suspicious and bought nothing. Should’ve sold.
Investors always do that because they’re ruled by fear and greed. Most people thought it would go even higher. It didn’t. It never does.
Fast forward to 2007. Selling Silver because you needed the cash is again, what everybody else did because everybody else (on average) was not doing too well. You got fair market value for it and so did everybody else including the people on the buying side.
If you want a really good investment, buy apartment houses. True, house prices fluctuate based on interest rates, but rents never do. Rents also never go down. They may stagnate, but they never go down.
I’ve made stupid investment decisions as well, like the time I lived off interest till, you guessed it 2008. That was stupid because I didn’t even realise that I was at the mercy of the global banking system, then later on towards the end of 2008 their artificially low interest rates.
If anything, now’s the time to get into debt because if the financial system goes belly up (which it WILL) and/or there’s a hyperinflation scenario, those debts become putty if you can pay them off with real assets you’ve set aside for just that purpose, like Ag + Au. Just like the smart people in Weimar Germany did in 1922-1923.
Also don’t put all your eggs in one basket and at this time, don’t trust any paper assets. Don’t trust anybody UNDER 35 and don’t trust anything that’s just numbers on a screen. Real assets like housing and commercial real estate will always generate an income, same with machinery. If this whole thing turns into a war, then the best investment would be construction materials. Scaffolding, bulldozers, etc. An orchard becomes a Gold mine if the infrastructure and/or currency fails.
I always enjoy your comments Sun Rabbit. You are a smart fella.
No he’s not.
You can’t lose any money on them until you sell them? Well that’s still losing money, ain’t it? An ounce of silver will always be worth an ounce of silver no matter what? Except when I sell it, right?
A moron that buys gold and precious metals deserves whatever he gets. You sir, obviously fall into that category. As someone with a modicum of intelligence and education, let me explain a simple law of economics to you. It is called the law of supply and demand.
No one ever demands precious metals. Jewelry is not a necessity. It never will be. Precious metals dealers profit from jewelers and morons dumb enough to pay them high prices for it and then later they buy it back for less…then they sell it again. They advertise and pay people to make claims about investment security and all that good stuff you see on the web and in late night info-mercials. It is a lie intended to perpetuate the sales of a product that no one has a use for.
Real assets? Really? So when the world falls apart, that gold and silver is gonna save you, right? As one person posted previously, try walking into the grocery store with that gold bar and see how far you get trying to buy groceries. And that’s without the apocalypse in play.
No sir, precious metals are only precious because the guy selling them says they are. They are all but useless in reality and as the one fellow pointed out, you will get screwed on the resell. Why? Supply and demand. There’s plenty of supply and low demand. Value, true value, is only determined by one factor – how much someone is willing to trade you in order to get it. Value has been something of a salesman’s myth since the dawn of commerce.
Something is only valuable if you can use it or if someone else wants it badly or needs it. Money only has value because we need it to get the things we want and need. Money is valuable because I have to have it to buy food at the store. Otherwise it’s just so much printed paper with numbers on it.
“It is a lie intended to perpetuate the sales of a product that no one has a use for.”
Silver and gold are not a product. They are a commodity. Silver and gold are money — everything else is credit. If you satisfy a debt with paper (Federal Reserve Notes), you have merely transferred a debt from one hand to another. If you satisfy a debt with gold, you extinguish the debt forever.
“No sir, precious metals are only precious because the guy selling them says they are.”
Gold and silver are the only constitutionally valid money here in the United States. FRN are merely an agreement — they are literally an IOU and nothing more. Our monetary system functions on a lie agreed upon — we agree that our FNRs have value when in fact they do not. They have value only because the government insists that they have value. The value of gold and silver is beyond governments to control. Governments can but regulate and make laws concerning the use of monetary metals (gold and silver) or prohibiting ownership of monetary metals, but governments have never been able to control the value of monetary metals.
Moreover, gold and silver are the only substance recognized by God in the Bible as money. There are those of us that matters to. In fact, the Hebrew word for silver is the same as the Hebrew word for money.
I was digging up my grass to expand my garden plot and I unearthed an old tattered 1000 DM note (I live in Germany BTW) from the 1920s so I checked it out on eBay and found that it’s worth about 75 cents to a collector in reasonable condition. This was not, so I put it in my blue paper bin for recycling.
However, in those times, that note could have bought 50 ounces of Gold because the price of the Deutschmark was fixed with respect to Gold.
Can anyone guess which I would have preferred to have found: the 1000 DM note, or 50 ounces of Gold?
Currencies are only as strong as tej governments that back them.
Gold has no government. Gold has no board of directors. Gold has no boss because Gold IS the boss.
Good point. Anyone that says gold has no value should try bringing some of it to the local pawn shop.
Why don’t you take it down to the pawn shop. You’ll get between 1/4 and 1/6 market value for it depending on which metal it is. Gold gets crap. Silver gets crap. Platinum might get you the 25% price. I know. I’ve sold stuff in the pawn shops.
Technically speaking, pawn shops are the worst place to sell gold. See a sign out front says ‘We Buy Gold’? Steer clear.
Sell metals to a licensed dealer like APMEX or Texas Precious Metals. You will get MUCH closer to what the metals are actually worth.
BWAHAHAHAHAH! Oh my…that’s such words of wisdom…or crap…not really sure which. Yeah I am. Gold is the boss, eh? Is that why practically not a single major government on this planet uses the gold standard anymore? There’s no gold to back any of the currencies. We use what is called a “fiat system.” When they need to, they just print more money. Know why that gold-backed bill is worthless? Because the government that printed it in the 1920′s was using “gold standard” and that government no longer exists. None of the old governments exist. Gold is a joke. They use it to make computer chips with now.
Gold is used in electronics because gold is the single best conductor of electricity known to man. Gold always had and always will have value. The value of gold does not change — only the price of gold in certain monetary systems (like the US Dollar) changes.
Today an ounce of gold will buy you almost the exact same thing it would have bought you in the 1880′s. A good men’s suit goes for about the price of an ounce of gold today, just as it did 100, 200 and 300 years ago.
PMs may end up being worthless, but not before fiat becomes worthless