Rickards and $10,000 Gold

Discussion in 'Gold' started by House, Jan 23, 2014.

  1. Argentum

    Argentum Well-Known Member

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    food and energy do not neccesarily move with equal step with gold. If that was true my petrol and bread should be about a third cheaper than it was 2 years ago when gold hit 1900. They will move but not as much.
     
  2. Axolotl_

    Axolotl_ New Member

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    He was the first president who was never president.
     
  3. mmissinglink

    mmissinglink Active Member

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    I wasn't making the argument that they would move in equal step, I believe their move would be much greater in that hypothetical scenario that some people are fixated on envisioning. In our modern world, most people are less attached to valuing silver and gold as people once were I think. I see evidence of this all the time with the common person. After all, with an abundance of ways that we have today to transact without even the slightest desire for metal backing, what good is a blob of metal to most people? And, in a SHTF scenario, it would be worth even less because people would desire staple items until order came about with the new fiat currency. For most people in a SHTF period, silver and gold would be among the last things on their mind. If you already have some silver and gold BEFORE a SHTF scenario, then there's nothing wrong with that as eventually, when civility and order come back, it can be of use I believe.

    The whole point is that metals are NOT some magical genie in a bottle that some allowed themselves to be fooled into believing. There's no evidence at all that metals would be at such a tumultuous time. Treat metals like any other asset and you will be the least disappointed and the most informed that you can be in relation to such commodities. Treat it like a magical genie in a bottle and you will always be frustrated and you will suffer opportunity costs in the long run.



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