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Gold only value outside of its Industrial worth because enough people say it's worth something. As long as everyone believes the Emperor has clothes he will!
Ill pm you my address, please send any worthless gold you may have my way.
Quote:
Originally Posted by cometclear
I think he's making reference to this fairy tale handed down through time that gold "has value in and of itself" that paper does not.
Exactly. He's one of these people that somehow misses the fact that people just agree that gold is worth something. All they're doing is trading in faith in one currency for faith in another currency.
Quote:
Originally Posted by Frank DeForrest
It cannot cannot be created out of thin air and manipulated by governments, therin lies the value.
In just the same way making a run on a bank proves disastrous, making a run on a currency will prove to be disastrous.
Same concept.
It's a nice way to speed up economic decline.
It cannot cannot be created out of thin air and manipulated by governments, therin lies the value.
Oh, that's brilliant. I suppose paper can be created "out of thin air?"
This cult of gold is actually kind of humorous. Is Glenn Beck still telling you guys to hoard it in your bunkers as you await the apocalypse and/or rapture?
Like anything, gold represents another investment. Historically, it performs well when currencies are falling or are otherwise unstable. Any wise investor should be as diversified as possible, which means they should hold a portion of their wealth in precious metals. It doesn't mean they should become gold bugs, though. Gold has performed well and it will continue to perform well, but so will other things and you would be doing yourself a disservice by not being diversified. I believe in being split four ways: stocks, real estate, precious metals, and cash.
Oh, that's brilliant. I suppose paper can be created "out of thin air?"
This cult of gold is actually kind of humorous. Is Glenn Beck still telling you guys to hoard it in your bunkers as you await the apocalypse and/or rapture?
It's easier to "print money" (which doesn't even require printing anymore) than mine up a bunch of gold. I am comfortable with fiat money but each form of money has advantages and disadvantages.
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