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How you know that gold is the real world currency
goldrealmoney79
Posts: 417 ✭✭✭
The military supplies troops with gold coins for behind enemy lines, why not US dollars? Because the US dollar isn't a real global currency, but gold is globally recognized as a currency as a store of value.
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@goldrealmoney79....Welcome aboard... And thanks for the link to a very interesting article. Yes... Gold is money and will survive as such when fiat fails... Cheers, RickO
How do I know? Because central banks are filling their vaults with it. Some are even dumping US Treasuries to buy gold. And also because coho doesn't see any value in it. He thinks its useless unless you have a buyer.
Give Me Liberty or Give Me Debt
Not just gold...all assets are worthless until bartered for something else.
An ounce of gold or a brokerage statement all worthless until transacted.
Knowledge is the enemy of fear
When the US Govt and other G20 nations unload their 30,000+ tonnes of gold for good, then we'll know gold is not the ultimate "eraser" of currencies. When they stop keeping their gold transactions as secret as the movements of nuclear weapons, we'll know gold is done. When the TBTF banks no longer require $650 BILL in otc gold derivatives (BIS data) (or 3-4 yrs of world production) then we'll also know gold is essentially meaningless. Until then......
Well CoHo also thought "The Bookstore" back in 2012/2013 was a joke, and over-priced at $260-$300 per share. No joke these days at $2100/share and market cap over $1 TRILLION. Some people get it....some never do. LOL.
First gold had counterparty risk when there was no counterparty. Now gold is worthless without a counterparty.
You really need to put your brain in gear before engaging your mouth.
Send me your worthless gold, I'll keep it and add some value to it.
Give Me Liberty or Give Me Debt
While others thought buying monster boxes of silver eagles at $25-$45 an ounce was a good idea.
The whole worlds off its rocker, buy Gold™.
Regarding “the Bookstore” I have to confess that back in 1999/2000 I was amazed when I noticed that its market cap exceeded Barnes & Noble!
Good enough for James Bond.
Those emergency kits were issued during world war II. Time reference matters when asking, "What is money?". They were packed with items to be easily bartered without raising any suspicions. I've owned one opened kit and sold it to another WWII junky. I was offered a sealed one from a collector who wanted another collector with passion for the history to have it, just didnt have the funds.
"From Russia With Love":On the train. The briefcase with the sovereigns.
Welcome aboard, interesting reading, thanks for sharing !!!
That would require a transaction, or a counterparty, now youve added risk, and I need to be compensated for that risk.
Did you know silver is trading at the same price it was in 1981?
Knowledge is the enemy of fear
Roadrunner "forgets" to mention the bookstore dropped 40% over the next 6 months. If only he had warned that silver would drop 40% (actually a lot more) or that some forum members would still be waiting a decade to recoup losses. A freaking decade....how many forum members have passed away waiting, and waiting, and waiting.
Knowledge is the enemy of fear
Luckily it didn't stay at the same price, it's volatility has grown my stack considerably at little to no cost.
Give Me Liberty or Give Me Debt
No cost? So free or worthless? Lol
I sure hope silver goes up someday.
Knowledge is the enemy of fear
No cost? So free or worthless? Lol
I sure hope silver goes up someday.
@cohodk - you make it sound as if Nobody besides yourself knows how to manage a portfolio, or money. From the tone of your responses regarding silver, one would think that portfolio rebalancing to include a silver component while silver prices are low - are high on the list of follies - when in reality it's a smart thing to actually do.
Ask Baley if he loaded up on silver @ $50 and held on since 1981. Or, roadrunner. Or myself. It doesn't happen that way. derryb is following the same plan. You are wrong. Sorry.
I knew it would happen.
Dear Mr Jmksi....your BFF derrby claims he acquired silver at no cost. What did he do, build his stack from a coinstar machine? From the sidewalk?
Rolling a $10 profit from a previous sale into something else still leaves him with a $10 cost.
Dont sit here and say, "well my stack is all the profits ive made so i have no cost"
Gold goes up $200 and some of you have plum lost your minds. I guess thats what happens when your ship comes in once a decade?
Knowledge is the enemy of fear
Gold goes up $200 and some of you have plum lost your minds. I guess thats what happens when your ship comes in once a decade?
$200?
As I recall, there were threads betting that gold would go to $800 when it was around $1050 or so. Unless my math is off, $1,700 minus $1,050 is closer to $650 than to $200.
And gold is doing that without help, and in spite of the Fed's "mandate" to buy stocks, ETFs, junk bond funds, Treasuries, MBSs and who knows what else - all with freshly keyboarded money from nowhere. They are probably giving themselves some nice bonuses for doing "God's work".
I knew it would happen.
It will and l'll be there to remind you how wrong you were about silver as well. LOL
Give Me Liberty or Give Me Debt