Comments on: Spot Gold Price Is Now Meaningless

By: vidal

vidal — Wed, 04 Feb 2009 04:09:16 +0000

I’m not sure what Planet DEE DEE Pontiac hails from…. She stated gold is no more better currency than baseball cards or Christmas ornaments and thinks we need to not regress to the nostalgia of silver /gold… Then she has Doby Gillis agreeing with her. DEE DEE Pontiac, maybe it’s time you pick up a book, ( History Book) and you will find every great empire has fallen from debased MONEY, CURRENCY? BASEBALL CARDS, CHRISTMAS ORNAMENTS AND /OR ANY OTHER MODERN DAY CURRENCY YOU THINK IS INTRINSICLY MORE VALUABLE THAN Ag. / Au. READ AND LEARN FROM PAST MISTAKES !!!! BASEBALL CARDS, MAYBE YOU SHOULD TAKE BERNANKES SPOT>>> YOU BOTH THINK ALIKE……….

By: Big Al

Big Al — Fri, 17 Oct 2008 23:52:58 +0000

The properties required of money were first described by Aristotle in the fourth century BCE.

It is durable. It won’t evaporate, mildew, rust, crumble, break, or rot. Gold, more than any other solid element, is chemically inert. This is why foodstuffs, oil or artwork can’t be used as money.
2.

It is divisible. One ounce of gold—whether bullion, coin, or dust—is worth exactly 1/100th of one hundred ounces. When a diamond is split, its value may be destroyed. You can’t make change for a piece of land.
3.

It is convenient. Gold allows its owner physically to carry the wealth of a lifetime with him. Real estate stays where it is. An equivalent value of copper, lead, zinc, silver, and most other metals would be too heavy.
4.

It is consistent. Only one grade exists for 24-carat gold, so there is no danger of owning 24-carat gold varying in quality. Twenty-four-carat gold (pure gold) is the same in every time and place since gold is a natural element, unlike gems, artwork, land, grain, or other commodities.
5.

It has intrinsic value. Gold finds new industrial uses each year. Of all the metals, it is the most malleable (able to be hammered into sheets less than 5-millionths of an inch thick), most ductile (a single ounce can be drawn into a wire 35 miles long), and the least reactive (it can stand indefinite immersion in seawater, does not tarnish in air, and can withstand almost any acid). Next to silver, it’s the most conductive of heat and electricity and the most reflective of light.

These superlatives make gold uniquely well suited as a medium of exchange and a store of value. Arguments that gold’s value is “mystical” are silly; it is simply one of the 92 natural elements.

One important last point was not listed by Aristotle, probably only because he lived before the creation of paper and banking.
6.

Gold cannot be created by government. Gold can, of course, be debased with impurities or falsified in weight, and governments strapped for revenue have tried those tricks. But a trader can protect himself with a pair of scales or a vial of acid, although a familiar and trustworthy hallmark of a coin saves him that trouble. Unlike currency, gold cannot lose value because of government mismanagement. On the contrary, it tends to gain value because of government mismanagement.

From “What most people don’t know about gold”

http://www.financialsense.com/...../1123.html

By: Monkd

Monkd — Fri, 17 Oct 2008 18:19:11 +0000

I agree with Dee Dee. The Stone Age didn’t end because we ran out of stones.

By: Dee Dee Pontiac

Dee Dee Pontiac — Fri, 17 Oct 2008 18:15:38 +0000

Gold is no better a currency than old baseball cards or ornamental glass. It’s a collector’s currency. Those of you who rail against the Federal Reserve have to come up with something better to base a massive national economy on other than gold. Gold has no intrinsic value other than what people believe it to be, and there just isn’t enough gold in all the world to represent the size of our economy let alone the world’s. Stop thinking like a bunch of village provincials and conspirators. Gold is NEVER coming back, no more than cassette tapes and buggy whips are going to be valuable again. It just doesn’t fit in a modern world. If you don’t like the modern world, come up with something more modern that solves whatever you don’t like about the current world, but don’t advocate going back to a world that will never ever ever exist again. It’s pointless.

By: TiredFarmer

TiredFarmer — Fri, 17 Oct 2008 18:04:35 +0000

Good Words #18 ! ComEx is fiat paper. Wait until the investors want to take physical posession of the bullion. Then we’ll see how the Fed bails out ComEx for their bullshit greed. The entire sysem is so corrupt, I cannot see how persons with a bit of intellagence even get involved in such pyramid schemes.

By: Bill

Bill — Fri, 17 Oct 2008 14:02:36 +0000

Gold IS trading at 1000+/oz. Just take a look on eBay. Even crap 1oz coins are going for about 1000.

By: GOLDIGGA

GOLDIGGA — Fri, 17 Oct 2008 06:30:05 +0000

No matter what happens precious metals will be tradeable and worth holding (Physically).
if the markets or monetary system collapes they will buy what you need, the reason is gold is a limited resource it will always have value as a stable international currency

By: BobbieJo

BobbieJo — Fri, 17 Oct 2008 06:07:42 +0000

I am going to heed past history when it comes to gold and silver.
Generations of my family have been here on this farm since they landed off the Mayflower. This farm has seen a heaping load of hard times and some happy ones.
Through research and reading through accounts written down by my ancestors I know when the hard times hit, the homeplace here was sustained by gold and silver.
Property was taken away from those folks who did NOT have gold to pay their property taxes.
Since we know the evil greed that runs rampant from our rulers hearts, and the knowing that history always repeats itself, why would one think gold would be worthless to the homeowner when a system fell? These rulers are heartless. Enough to evict a family to the streets out of sheer greed.
If you take care of your land, the land will take care of you.
I am ready for the next generation of carpetbaggers. This is my advice such as it is, someone out there will heed it.

By: Frankie

Frankie — Fri, 17 Oct 2008 05:34:12 +0000

The bankers already have most of the gold from fort naux being withheld for all debts owed to the federal reserve. They still will not allow it to be audited. I have in vested my money into precious metals. I figured as the dollar drops in value the price of gold and silver will increase not in value but in dollars . As long as they are not surpressing the price of it.

By: Nonya45

Nonya45 — Fri, 17 Oct 2008 03:29:24 +0000

My 2 cents…. Gold is as valuable as paper as long as there is a demand. However, lets think for a second. What demands does gold meet? If people dont have jobs, they are not infusing debt into the markets with establish the gold precedent/need.

The thing here is they dont want you to realize that none of is worth anything, and is completely reliant on you believing it is worth something. Fear is the driving force behind everything that exist in this world today.

You want freedom, unplug. See things for what they really are instead of what you have been indoctrinated into believing/understanding.

My opinion. DON’T BUY ANYTHING that you can make, grow, or build for yourself, and when your neighbor comes looking for a handout, dont be so quick to give it, be quicker to teach them how to do it for themselves. “If I catch fish for you, you will eat today, If I teach you how to fish, you will eat everyday”

Problem with this idea is ego… Most people feel the need to in someway feel special and in some weird way do when they are taking advantage of others. We don’t live in a cruel world, we live in a deranged world. Some of us are just saner than others.

When everyone becomes self reliant again, those who have the power today, will once again understand they need us to survive, because they couldn’t survive on their own.