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Old 12-21-2011, 09:41 PM
 
6,828 posts, read 7,575,317 times
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You can't buy anything with it. It's not money. Peter Schiff demonstrates how clueless he is.


Hot Air Blower Peter Schiff Thinks Gold Is The Solution For Everything - YouTube
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Old 12-21-2011, 09:44 PM
 
Location: Portland, OR
8,803 posts, read 7,185,777 times
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Quote:
Originally Posted by knowledgeiskey View Post
You can't buy anything with it. It's not money. Peter Schiff demonstrates how clueless he is.


Hot Air Blower Peter Schiff Thinks Gold Is The Solution For Everything - YouTube
So it doesn't have value because you can't buy anything with it?
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Old 12-21-2011, 09:47 PM
 
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Originally Posted by VTHokieFan View Post
So it doesn't have value because you can't buy anything with it?

yes
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Old 12-21-2011, 09:49 PM
 
Location: Fort Worth, TX
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Gold is used in electronics. It's arguably more useful now than back in the day when people decided it should be worth a lot because it's shiny.
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Old 12-21-2011, 09:50 PM
 
Location: London, U.K.
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Rolf. Actually the markets decided millenia ago that gold and silver were money - the current fiat currency system is on its knees and failing like all fiat currencies do. Give it time, gold will become money again soon enough.
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Old 12-21-2011, 09:50 PM
 
Location: Portland, Oregon
7,091 posts, read 10,388,898 times
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Quote:
Originally Posted by VTHokieFan View Post
So it doesn't have value because you can't buy anything with it?
Isn't the point of having money that you can actually buy stuff with it? That's why there are prices on things.
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Old 12-21-2011, 09:52 PM
 
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You can't buy anything with 80 acres either.
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Old 12-21-2011, 09:52 PM
 
6,828 posts, read 7,575,317 times
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Quote:
Originally Posted by HurricaneDC View Post
Gold is used in electronics. It's arguably more useful now than back in the day when people decided it should be worth a lot because it's shiny.
Okay, but what does that have to do with buying power?

Quote:
Originally Posted by archineer View Post
Rolf. Actually the markets decided millenia ago that gold and silver were money - the current fiat currency system is on its knees and failing like all fiat currencies do. Give it time, gold will become money again soon enough.

Nope, the gold standard was part of the reason why this country went into a depression. Milton Friendman said it himself.
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Old 12-21-2011, 09:55 PM
 
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He is absolutely correct. Gold is useless junk. Send it to me and I will dispose of it properly for you.
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Old 12-22-2011, 06:12 AM
 
17,009 posts, read 11,195,838 times
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Quote:
Originally Posted by knowledgeiskey View Post
You can't buy anything with it. It's not money. Peter Schiff demonstrates how clueless he is.


Hot Air Blower Peter Schiff Thinks Gold Is The Solution For Everything - YouTube

Let's see................................

Have you tried buying anything with diamonds? How about a house? How about farmland?

I guess all these things are worthless, as they are not instruments of trade.

Think before you speak.
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