So, you have heard this or that about how wonderful Gold is to hold during Currency Wars. Well, time you got a reality check. Here are SSBull's top reasons why Gold will never again become a standard in a medium of exchange (i.e. Monetary Unit of Wealth). Gold can be created from assembling Protons and Neutrons. When costs permit it to do so expect Gold to be near worthless. This may come sooner than you think (i.e. assume).[/*] Food and actual goods will always be more desired over Gold. Food is only becoming more scarce. So, naturally people would prefer to 'hold' food over Gold.[/*] Take the "L" out of "Gold" and spell it backwards you end up with Dog. Don't understand why I typed this here, but it seems inappropriate.[/*] That many people will get burned during the hypothetical bull run-up of Gold you can be assured the same people will be vocal about demolishing any idea for Gold to become a standard.[/*] With both the Earth's land and Oceans hardly explored nor touched you can only imagine how much Gold exists and what this will do to Gold's value.[/*] We all know Hollywood likes to come out with remakes of classic movies. Therefore, you can be sure if Hollywood come out with a remake of the James Bond Movie "Goldfinger" this will well n truly affect Gold spot price. Pray Hollywood does not create an aberration.[/*] If the Gold price is really manipulated by the Powers That Be then they will do their damm best to retain this. The only reason why 'they' are allowing Gold to run up is to catch you all off guard so they can take you to the cleaners in a double dip ransom.[/*] Gold is yellow in colour, and yellow is a pansy colour. So, you best be wearing your skirts if holding Gold.[/*] Gold can be mistaken for Silver in a very dark room with no light.[/*] You can't convince a blind person the ugly bar in your hand is Gold after a Nuclear fallout.[/*] Zombies don't eat Gold, they eat brains.[/*] Gold is heavy. Paper money is so much lighter to carry.[/*] All that glitters is NOT Gold.[/*] ------------------------------- FUN FACTS Did you know it has been suggested the "Yellow Brick Road" from the story "The Wizard of Oz" has been referred to the 'Gold Standard'? ------------------------------- Check out some other epic fail reasons why Gold is bad. ======================== DISCUSSION TIME Is Gold overvalued?[/*] Will Gold stand the sands of time in intrinsic value? If so, why?[/*] Silver (colour) has always been more popular than Gold (colour); is it about time Gold change its colour to Silver? Perhaps White Gold? Would you prefer a .999 White Gold ingot/bar over a yellow version if possible? Don't be surprised it already is.[/*] Will Food become more scarce than Gold (and be in higher demand)?[/*] ======================== Keep it civil. P.s. I am Pro Gold. Though I believe Food will take over Gold in demand, but I am not convinced Gold will lose its industrial or intrinsic value (even with mass lab production from a Cyclotron). There will always be a sucker out there willing to hoard the yellow. .
Agreed that at the end of the day, food and water is more valuable than gold.... but I will keep buying PM's regardless. I think a purchase of good farmland with own water source such as spring/bore will be just as a good (maybe even better) buy for SHTF scenario than PM's. Wouldn't be surprised at all if TPTB will create a situation that will herd the population to gold and then pull the rug from under us in another wealth stealing act.
[youtube]http://www.youtube.com/watch?v=jAx67gfWU50[/youtube] Dear matrix, until Gov will stack food as a store of value, it simply wont happen. Not food but energy is our greatest problem
Hmm...good points, especially number 3. Might I add removing the G and you get old. old = tradition = bernanke.
Subjective ideology. Over valued compared to what? Paper fiat? I would argue that fiat is over valued. It's buying power according to it's intrinsic value is laughably over valued. The last 5000 years seems to indicate so. The fact that it ticks all the boxes for what qualifies as money and has proven to be the best medium through human history indicates it has a bright future. Also consider the fact every government and central bank of the world stores this would indicate that the major players believe so too. Not a really relevent point in the discussion. I honestly don't have an opinion either way on this, I'll stick to the old fashioned 'yellow'. Food is a renewable resource and can be created. Gold cannot. This is someone's SHTF mindset showing through I think and again, not really related to the thread topic. Not that it matters, I essentially stack both and will continue to do so. As I always say, if you don't believe in the metals then do yourself a favour and get out of them and go plug back into the matrix and be happy.
It might be worth writing to the US Treasury department regarding the Federal Reserve notes that bear the words "in gold we trust" and point out they made a typo .....
As stated Gold could be assembled from Neutrons and protons..... Its a bloody heavy nucleus to build tho, hence a bucket load of energy is required. The reality is that Energy not food is the baseline of intrinsic value. Energy can also be turned into food + water, think hydroponic gardening etc, sea water can be turned into fresh water through desalination. Thus the world is in a big old gunfight over the last oil reserves. It would be impractical for any "powers to be" to impose energy as a standard unit of wealth, although on a larger scale the energy available to any country, family or any other entity is ultimately a reflection of wealth and power. Even without Bernanke's Tradition argument (which I see as valid, THANKS BEN) all the gold mined in human history would fit in less than 4 Olympic sized swimming pools. If you have a single ounce of gold you have more than your equal share of whats available worldwide. How is there a better unit of monetary value? Even if a machine was invented tomorrow that could build Gold atoms..... there may be a re-valuation of gold to reflect the energy used to create it. This only continues a stable situation as a monetary unit. At some point the energy cost of creating more would balance the energy products that gold could buy. At this equilibrium the value of gold would actually reflect an energy value. Funnily enough this is right back to where Gold came in as a monetary unit in the first place, possession of gold and the implied value reflected the time and effort (energy) someone had to invest to bring mine the gold.
Must have been away for this one..What the hell is gold?? Never heard of it,probably one of those passing fads like bit coins. Defiantly thought up by some marketing guy with too much time on their hands
