I hope Jay Powell on Wednesday gets asked the same question. https://t.co/7yDZmFQJ8s
— Peter Boockvar (@pboockvar) July 27, 2020
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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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Notched sticks, seashells, coconuts, cattle and women ceased to be money a long time ago. They may be considered assets, we might one day go back to the seashell standard but at this point, gold and silver are mere speculation just like Tesla.
….as the dollar’s value evaporates before your eyes and the price of gold hits all time highs. HEAD SLAP!!
If you aren’t “speculating” in precious metals at this point you’re hopelessly uninformed or misinformed on what the difference between money and fiat currency is. But learn you will.
Shaddup, moron. I said gold is an asset. It’s not money because we don’t use it as such currently. Go patronize your momma.
Imagine, 6,000 years of history gone poof just when we show up. Hey, maybe Jesus is on his way!
There are 5 natural attributes then define what ‘money’ is, one of which is intrinsic value. What you’re talking about is ‘currency’. Big difference.
Cease, I tried to say that gold is not currency, it’s an asset. I know what money is. They can print trillions in currency. But try to get change for a 1 oz gold piece at Taco Bell.
1964 and prior silver U.S. dimes fit the bill for those chimicangas and such.
They’d take it if I owned the joint. I do understand your point. But it’s not because it has no value but because so many people are economic ignoramuses.
BTW there is an excellent chance we will see money with intrinsic value backing again. My guess is China.
“Only gold is money. Everything else is credit.” J P Morgan
Gold bullion coins are minted in fractional ounces as well, some as small as 1/10 Troy ounce. Gold ingots as small as 1 gram are available too, especially in Asia.
Lars
Did you ever resend that eamail to [email protected]
Lars, I was a bit surprised to see 1/20th oz gold coins lately. Even bought a few.
“I said gold is an asset”
You said it was “mere speculation.” Different connotaion.
I said they may be considered assets (just like women and tulips) but at this point are mere speculation. Do you know why I say speculation? Because the price can go down as well as up. The trend is up, I agree but there is no guarantee it will always go up.
The gold bugs insist that it will hold up in inflationary times. First, you will have to educate the maroons (see CCR’s comment) that gold has the value you ascribe to it. More likely, they will be like the bandits who chopped off the miner’s head in Treasure of Sierra Madre, they won’t know gold from Shinola.
Come to Asia, that is the quickest way to see gold being used as it should be. Parties are taking place all across the continent tonight as I write.
There are as many gold shops as there are banks in my local town.
Thanks for the invite, Thai. I know gold is very popular in Asian countries. We have dollar hegemony in the west. I understand it may be on the way out but it will be a slow progression because so many client countries use the dollar as their own currency.
Women? Do you really want to use today’s liberal female as collateral? They are anything but an asset, seems they are more of a whining, squalling and annoying bipedal misery. Irrational and insane, beyond stupid and useless little crybabies who think their shit don’t stink. They often have teeth a horse would envy.
?
As to the precious….it is used as insurance and a hedge against fiat collapse and I daresay we are seeing more and more people treating it as such. Gold is approaching 2K an ounce, that’s happened since March. Wonder why?
Because the Robinhooders are going all in, driving it up to the stratosphere?
Do you really want to use today’s liberal female as collateral?
On a shaky loan? Sure.
Yo Einstein, Gold has been used for real money for 5000 years.I will trade you all the seashells you want for gold..See how that works??!! Ed
Lying bastard.
“Only gold is money. Everything else is credit.”
J P Morgan before a congressional committee.
Ben knows as much about gold as Fauci knows about HCQ; both are lying POSs for TPTB.
I stopped stacking when gold was $900 / oz. The metal didn’t go up, it just takes more dollars to get it..
Yes, the rise of the gold price in dollars reflects the loss of the dollar’s purchasing power.
But other factors such as war or political and economic turmoil can drive up the gold price at a rate faster than the rate at which fiat loses its purchasing power. IOW, gold’s price can and, if historic precedents hold, will increase faster than price inflation. More so, for silver in the latter stages.
That said, in the short term gold, like any other medium of exchange, can also lose purchasing power as measured against natural resources or basic commodities necessary for survival.
In any case, it’s one of the four essential G’s: God, gold, guns, and grub. For us commoners silver may be more useful day to day. Unfortunately boating accidents occur rather frequently in these times, so be careful.
.
GOOD OLD DAYS
https://www.youtube.com/watch?v=KdpKEs_dMHc
Seebs, do you really imagine that old time people had soyish baby faces? I noticed some time ago that movies now use modern language in historical reconstructions. And also, some of them include what would back then be considered ‘uppity’ negroes carrying on heroically.
idk. Most depictions of Ben Franklin, he looks pretty doughy. I’d say Cracker and Negro relations were probably a hell of lot better then…than now.