[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

EVERYTHING IS STUPID!! - (Republican Town Hall edition) Obama Called: Mamdani is Democrats' Future! ICE Agents SHUTS DOWN Denver Hotel — Illegals Removed from Staff and Guests! Cash Jordan: Homeless HORDE 'Digs In'... as Trump's 'Removal Unit' LEVELS DC Vagrant Village AI-Powered Radar Can Now Spy On Your Phone Calls From 10 Feet Away Water crisis grips Hebron after Israel chokes West Bank supply Media Lies About DC Death Toll Healthy Aging with NAD+ "Price-Spikes & Blackouts": America's Power Crisis Is Just Getting Started US treasury Scott Bessent just said allies’ wealth is basically America’s to spend U.S. MQ-9 Reaper Drone Flies Rare Drug-Cartel Hunting Mission In Mexico Cash Jordan: Homeless MOB 'Stands Ground'... as Trump ERASES 4-Mile DC Encampment People need to go to prison California mom faces $70k debt after emergency trip for infant burns LA Mayor Karen Bass Called Out for Claiming Crime in the City is Down Robot Dogs Now Have Real Tongues "There are 4 Alien Species here on Earth" - US Congressman Speaks Out "Israel's next attack on Iran is WEEKS AWAY & will be FAR BLOODIER than before" Japan Was Stunned by America’s M1 Garand—And Rushed a Type 4 Copy (1944) Edward Dowd: Tens of Millions Disabled by Covid Jabs Netanyahu Says He Backs 'Greater Israel' - Drawing Outrage From Arab States Advocate Says Trump NOT INTERESTED in Helping DC's Homeless Population | SUNRISE New Study Confirms that Cancer Cells Ferment Glutamine Tether Will Freeze Yourt Crypto Wallet Without a Court Order Migrant Cost PER SECOND... Is this the correct way to evict prostitutes from your backyard? Feminists Protest Racism After Gang Rape of Woman in Wheelchair THE INCREDIBLE SHRINKING PREMIER: UK’s Starmer Stumbles to His LOWEST Popularity Levels Ever, Spain's Christian Uprising is GROWING: Brussels FEARS the Reawakening | Macrons Secretly Hired Investigator To Dig Up Dirt On Candace Owens

World News
See other World News Articles

Title: The New Gold Rush
Source: NickBarisheff's Instablog
URL Source: [None]
Published: Jan 4, 2011
Author: Nick Barisheff
Post Date: 2011-01-04 16:37:20 by ghostdogtxn
Keywords: None
Views: 167
Comments: 5

Post Comment   Private Reply   Ignore Thread  

#1. To: ghostdogtxn (#0)

Today, gold is telling us that it can protect our wealth as it has successfully done for thousands of years. In such uncertain times, it is comforting to know that bullion ownership allows for sovereignty over personal economic destiny, and can change the way we view and experience economic reality.

I freely admit I know nothing of economics, but I just don't get all this hype about gold and I completely distrust it.

1. So what if gold climbed from $275 an ounce to over $1,400 since 2002? In 2002 $275 may have been worth $275. What is $1,400 worth to-day? About $275.

2. Can you eat gold? Who would trade a bag of flour for an ounce of gold in a starving world?

3. Go ahead and hoard gold and you will find out that it really has no intrinsic worth, unless governments the world over return to the gold standard for their monetary policy. That is not likely to happen in the near future, if at all.

4. The lure of gold is purely psychological.

I want either less corruption or more opportunity to participate in it. Ashleigh Brilliant

angK  posted on  2011-01-05   0:52:23 ET  Reply   Trace   Private Reply  

"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men." -- Samuel Adams (1722-1803)‡

"The ground of liberty is to be gained by inches, and we must be contented to secure what we can get from time to time and eternally press forward for what is yet to get. It takes time to persuade men to do even what is for their own good." -- Thomas Jefferson

ghostdogtxn  posted on  2011-01-05   8:28:56 ET  Reply   Trace   Private Reply  

But being something that never loses value, it is a very useful thing to own in uncertain times.

This is where my mind boggles. Of what use will gold be when the government seizes pension funds (and they will), and they depreciate the dollar to worthlessness, (and they will), and they tax your real estate and income to such prohibitive levels that engaging in business is a waste of time.

In a time such as you describe, WHAT WILL YOU TRADE YOUR GOLD FOR? Barrels of worthless dollars? When they seize your property, will you eat gold? Your neighbours will not give you a crust of bread for all your gold.

"Uncertain times" barely covers the era which is coming. Gold will be a useless commodity. It is merely a beacon, a scam to-day, to get you to invest your money in another get rich quick ponzi scheme. All that glitters .....

I want either less corruption or more opportunity to participate in it. Ashleigh Brilliant

angK  posted on  2011-01-05   15:57:30 ET  Reply   Trace   Private Reply  

"It does not take a majority to prevail, but rather an irate, tireless minority, keen on setting brush fires of freedom in the minds of men." -- Samuel Adams (1722-1803)‡

"The ground of liberty is to be gained by inches, and we must be contented to secure what we can get from time to time and eternally press forward for what is yet to get. It takes time to persuade men to do even what is for their own good." -- Thomas Jefferson

ghostdogtxn  posted on  2011-01-05   16:05:04 ET  Reply   Trace   Private Reply  

Sure they will. Russia went through such times, and so did many other European states. My neighbors will give me better than a crust of bread for the gold, because a black market will inevitably develop in necessary items. Gold will most certainly be a part of that black market, because it is 1) divisible 2) transportable, and 3) has a high relative value to it's mass. It's a lot harder to carry around a sack of flour than it is to carry around the single piece of gold that will buy you 500 lbs of the stuff.

I applaud your optimism.

I want either less corruption or more opportunity to participate in it. Ashleigh Brilliant

angK  posted on  2011-01-05   16:18:36 ET  Reply   Trace   Private Reply  

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]