shackattack2 wrote:Gold and silver is not just of value to the "modern" economy; it's been used for over 5,000 years as currency. Like you say it is impractical in terms of purchasing everyday goods and services. But, as an investment, I would rather have 2 mil worth (current value) of gold and silver bullion sitting in a tax haven vault than as a set of numbers on an investment bankers portfolia. Over the next few years at least. As the story of the Wizard of Oz (ounce) goes...."follow the yellow brick road". We do need industry and currency. There will always be a form of economics and trade. And I'm 99.999% sure gold and silver will be in there somewhere as a basis of trade value.
The current form of economy is a rogue form which is extremely wasteful of resources and run by psychopaths. There are alternatives which won't result in the donning of loin cloths and the singing of cumbaya round campfires. Just f***ing consume less.
Kamikaze wrote:The trouble with gold is that an ounce of gold will buy you the same amount of bread as it did 50 years ago, as everything is based on its value. .
danny1 wrote:Where do you keep the gold ? In a bank?
The Triffin Dilemma – advanced by the Belgian economist Robert Triffin in the 1960s – suggests that the holder of the paramount currency faces an inherent contradiction. It must run a structural trade deficit over time to keep the system afloat, but this will undermine its own economy. The system self-destructs.
A partial Gold Standard – created by the global market, and beholden to nobody – is the best of all worlds. It offers a store of value (though no yield). It acts a balancing force. It is not dominant enough to smother the system.
Leedsol wrote:
Why do people harp on about gold ffs. it has no more value than whitby black stone outside if its industrial uses and the modern economy.
Roy Stuart wrote:Leedsol wrote:
Why do people harp on about gold ffs. it has no more value than whitby black stone outside if its industrial uses and the modern economy.
What have the Romans ever done for us....?
http://youtu.be/ExWfh6sGyso
flacky wrote:We've put more into our mortgage. We've put ourselves in a good position to be able to afford the life we want. We'll move this year, buy a house close to the sea in what we believe is the best place on this planet (realistically, language, work, climate, lifestyle etc) to give us the life we want. We'll have a very manageable mortgage which will set us up with what we believe will be "home".
I admire people with the knowledge, patience and foresight to play the markets, but I'd be a happy man knowing the house is paid for, the car is paid for and I owe no one any money...
Visa (Debt) is the mark of the devil.
Roy Stuart wrote:Leedsol wrote:
Why do people harp on about gold ffs. it has no more value than whitby black stone outside if its industrial uses and the modern economy.
What have the Romans ever done for us....?
http://youtu.be/ExWfh6sGyso
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