The Gold Topic

[Variable]

That is because no one understand what a Republic is anymore ( google it people ).  We have been convinced that the only way to live is to let Big Daddy government fix all of our problems.  Even though this is exactly what the founding fathers of America did not want.

As far as gold losing its value?  Not likely to happen any time soon.  Gold has not lost its value since ancient Egypt.  If it was suddenly worthless tomorrow, it would extraordinary.  The first time such an event happened in millenniums.  I think it is much  more logical to bet your financial stability on something with a track record like that, than the stock market.

I do realize that Aluminum used to be considered a precious metal.  One of the most expensive metals in the world ( that is why the top of the Washington monument is made of aluminum) But it also just happened to be one of the most plentiful resources in the world.  We just didn't know how to extract it.  Once that technology was developed, the value of aluminum vanished over night.  But to my knowledge, there is no such dilemma with gold, silver, and platinum.  They are considered rare and precious metals.  Silver obviously being the most plentiful, and unstable of the 3.  But gold has kept its value through the centuries, and I haven't seen any reason to think it would not continue to do so.  1 ounce of gold is worth the same in America as it is in Europe as in China as in Japan ect ect.  You obviously get a different amount of monetary value for it.  But what that monetary value will buy, is the same.  So if the dollar over inflates and collapses.  If you have gold bullion coins, you will still hold wealth.  If all of your money is invested into the dollar, you're fucked.  Get it?

But no, gold is not good to buy right now it is way too expensive right now.  You are not likely to make a profit from it right now.  It was good to buy when I first started telling people to do it though.  Even though most everything is plunging to the very bottom.  Gold is worth more than ever before ( because of its stability).  You would be rolling if you just bought some gold before this crisis hit.

I also find it funny that you laugh at the though of trading in gold.  Even though that is how it was done for so many millenniums before us.  Even though that is specifically what the Constitution of the United States of America says we are supposed to do.  The constitution specifically states that paper money is illegal, and that our only currency should be coined gold and silver.  Strange that you would laugh at such a thing. 

[Muzic Junkie]

I just thought.....If every other countries using money/notes then they like move to another country and give soemoen a bar of gold.." 4 onions please" .. it just sounds funny

And yes i know you could just sell it in other countries. and what i meant with the value thing was that it could just drop over night i mean maybe not to the extent of worthless...But way less then it is now. it does happen.. Its not that i don't agree its a good idea to buy gold before it went big. I'm just saying that it has risks, and it could drop just like everything else.

But, yes i haven't actually looked atthe stats of gold in depth. What are you suppoesed to do with it? store it in the banks? Make the banks fall beacuse they'res no money? Isn't everyone going to ( well sell shares) what caused the wall street crash and then lead to "the great depression"

But actually gold is probably a better form of currency far more stable then thenote itself...But how can a country just change?
Turn to gold. oh......Idk.

[Variable]

http://video.google.com/videosearch?hl=en&q=fiat%20empire&um=1&ie=UTF-8&sa=N&tab=wv#

This video "fiat empire" answers all the questions you are asking, and more, way better than I ever could.  I think that is the full Internet version. 

But Gold doesn't drop in value.  That is my point.  The dollar amount that you pay increases because of inflation  But gold is very stable.  Very very stable.  It might fall 10 - 15 dollars an ounce every now and then.  But it has never, ever crashed.  It doesn't happen.  That is the point.

and you wouldn't bring a bank down by buying gold.  Seeing as how they make their money from thin air.  The dollar is not backed by gold.  And you can keep your gold anywhere you want.  In a safety deposit box, in a coffee can buried in you back yard.  Whatever you want.

[alvarezbassist17]

So let's see here, gold was around $800 an ounce when trey started this.  It closed at $1389 today.

[Variable]

Which makes this quote relevant once again.

Fuck all of you who didn't listen to Trey.  I told you asses some shit was about to go down BEFORE the fucking crash and the bailout.  I told your asses to buy gold.  Get rid of your savings and buy Gold.  Everything is down a ridiculous amount of points right now.  But something ( besides Campbell's soup ) is souring higher than ever.  And what is it?  Gold mother fuckers.  And I cant fucking buy it over here in Japan. So fuck all of you who could have, but didn't. 

[alvarezbassist17]

Topping 1700 today?

[tarkil]

Did already, no ?

[bright lights, big city]

oh shit, must mean the economy is going further into the toilet.

[alvarezbassist17]

The economy will go nowhere but the toilet. We just signed that into law with the debt ceiling deal. We're in for a wild ride, America. Don't say I didn't warn you.

And yeah tarkil, i think it hit somewhere around 1730, but it's down around 1715 now. Short term target is 5oz/1 unit of the Dow.

[Variable]

I'm so mad for not buying gold when I made this topic. I had the cash too. But I was just un-sure about how to go about it while I was living in Okinawa. It's so damn obvious now, grrrrrrrrrr

[tarkil]

Well, gold is not an easily storable material anyway... You can't just store bullions under your mattress you know...
And I don't know to which extent you can "trust" website like goldbullionvault.com.

I mean I'm sure they're legit businesses, but the day the shit really hits the fan (like when everyone's bankrupt, and no money's left that's worth anything), that's when you want to take back your "worth". But at that time, how do you get your gold back ?


I guess it doesn't matter anyway, that's probably the time when you should learn how to grow food and raise cattle...   

[downtownpony]

I'll invest in guns before gold. Unless I can get a golden gun. FUCK YES. Two of them.

[bright lights, big city]

Yeah buddy! With two, you'll be even better than Scaramanga.

[downtownpony]

Everyone will respect me.

[alvarezbassist17]

get gold mining stocks.  they took a hit with the market as well, but that just positioned the buyers for greater gains in the future. \m/

[tarkil]

Gold mining stocks are quite close to the real deal, but they're still very gay compared to physical Gold.
I used to invest in them until I could get access to Gold and other precious metals, and I always was kinda disappointed with them...

I guess it depends what you want to do with them, but I always found them to be too subject on equity markets, (and consequently to governments, policies, macro economic bullshit, and not enough on real physical gold trends).

[Variable]

I had almost all of my money in the high risk stuff (even though I REALLY did know better) and these past few days hit me hard. Not cool.

[tarkil]

Oh well, that will teach you how to balance your portfolio next time...   

[Variable]

Well "they" all told me to go high-risk while I'm young. That I can afford to bounce back. I knew better, but I trusted the wizards anyways. That's been the same old stupid story for the past 3 years now. Fucking ass holes. It doesn't matter though, I wont need an IRA when I'm president of the world.

[tarkil]

Ha ha...
And yes, my wizards tried to tell me the same, but I didn't really trust them, then found new (better) wizards.
I still got my fair share of fisting by the first batch of them who sold me a retirement plan with only "marginal fees", that is actually fucking expensive...
Cocksuckers !

Of course, I should have known better, but I will count on you to whip their ass when you're president of the world then...