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Old 09-01-2019, 03:54 PM
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Originally Posted by PalmettoTree View Post

Money is for the exchange of, goods and services, and for the accumulation of assets. I buy real estate, stocks, and silver in the expectation that they will be of greater future value than the money I use to buy them.
I think I am breaking through. So just to be clear you use Money or Currency. The USD is not money its currency ever hear of currency traders.

So if you are using money what type of money Gold coin?

Funny you try and destroy the argument then unintentionally admit you are wrong by saying money in place of currency.
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Old 09-01-2019, 06:27 PM
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Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.
Posteded it in its own threat but some folks here can use to check it out.
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Old 09-01-2019, 06:48 PM
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Quote:
Originally Posted by stinger5900 View Post
I think I am breaking through. So just to be clear you use Money or Currency. The USD is not money its currency ever hear of currency traders.

So if you are using money what type of money Gold coin?

Funny you try and destroy the argument then unintentionally admit you are wrong by saying money in place of currency.
Today you can buy a 5 dollar Liberty Half Eagle Gold coin for $699. You can use it as money worth $5 if you like. Or you can hold on to it for its value in gold.

In 1792 the founding fathers issued money by fiat:
24.1 grams of pure silver equaled $1
That means 241grams of silver equaled 16.04 grams of gold.
That also means 17,100 grams of copper equaled 16.04 grams of gold.

All of these were money in the day. Can you see why gold is not money yet. Those relative values were set by fiat. That is how the Romans did it. That is how the English did it. That is how the Spaniards did it. They all set relative values by fiat.

The values of each commodity varied over time independently. If that 1792 coin act continued today we would have no money. The gold would have been used as gold. The silver traded in for gold then that gold used for gold. The copper Cents would have been turned in for silver and that into gold and the gold used for gold.

Today we would be a barter nation worse off than any nation on earth regardless of capitalism or republic form of government.

GOLD is not money. It never has been and never will be. Gold has been tried as money and always failed because it is too valuable to be used as money for the common man's exchange for the goods and services he needs and can afford.

If you cannot understand that then you are one of the few that is just beyond help.
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Old 09-02-2019, 04:27 PM
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Originally Posted by FerFAL View Post
Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.

Posteded it in its own threat but some folks here can use to check it out.

Thanks for sharing.

Sent from my Note 8 using Tapatalk
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Old 09-02-2019, 07:54 PM
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Quote:
Originally Posted by FerFAL View Post
Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.
Posteded it in its own threat but some folks here can use to check it out.
Why have it? Gold and Silver for Survival & Preparedness - YouTube
I agree. PMs have value. I have never disputed this. I agree that pre-1965 90% silver coins are still worth their face value as legal tender and money. One would be foolish to use them as that.

Even a wheat penny is worth more than 1. A cashier recently ask me if it was worth anything. I told her I would give her 11 for it. She smiled and give it to me for face value in my change.

But even in Venezuela today a silver coin is not money it is a known quantity of silver which can be bartered with. There are no sign up saying gasoline a silver dime per gal.

The guy says for a silver dime you can eat for a week. How does he know? I have tried to find out what is the going cost per ... for ... of silver or gold. If anyone knows and can post a reliable source please do.

I hope to buy 4 silver dollars to complete another one of my coin books tomorrow. And likely for what I will pay my wife and I could eat for a week or more.
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Old 10-23-2019, 02:07 AM
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this happens all over the world
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Old 12-09-2019, 05:38 AM
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Quote:
Originally Posted by leadcounsel View Post
Gold is really just a fiat currency. It has no inherent value, like water, food, ammo...

It's only value is that people think it's valuable.

Tell me one inherently valuable thing about gold (~$1100 oz) that justifies it's current value at about 50 years worth of clean drinking water (~5 cents per gallon)....

...or ~5,000 rounds of pistol or rifle ammo...

... or ~5 weeks worth of groceries @ $225/wk....

Gold is a rich luxury item for modern traders and speculators, it's not a currency for SHTF.

Here's a hypothetical thought exercise.

You magically are transported with 1 modern rifle and 10,000 rounds of ammo (Modern day equivalent of say 5 oz. of gold) for it back to Rome during its reign and unlimited wealth. After demonstrating the power of this boomstick to the king, and able to name your price for it, how much gold do you think it would be worth? The value would be measured in cart loads of gold or a small kingdom and land as far as you can see.

The only reason gold held value, was because there simply was nothing else of long-term value... there were no canned goods, no firearms and self contained ammo, etc.
Agree 100%. To put it in simpler terms... If one has the weapon, and the other just has gold to trade, the other will soon have nothing, and the one with the weapon will have both. 1,000 years ago, today, or 1,000 years from now. Street bandits prove this every day of the week in a civil society. And they'll be more than plentiful if and when "SHTF", and society is no longer so, "civil".
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Old 12-09-2019, 07:14 AM
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Quote:
Originally Posted by Finmac View Post
... ownership of metals is a cure-all for Armageddon...
No one thinks that
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Old 12-09-2019, 07:18 AM
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Quote:
Originally Posted by FerFAL View Post
Did a video today explaining how fragile fiat currency is and the role PM have played for thousands of years.
Posteded it in its own threat but some folks here can use to check it out.
Why have it? Gold and Silver for Survival & Preparedness - YouTube
For everyone who does not know... ferFAL lived through thecollapse of Argentina. His opinion. is more than just opinion. Read his works
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Old 12-09-2019, 11:40 AM
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Originally Posted by bill460 View Post
Agree 100%. To put it in simpler terms... If one has the weapon, and the other just has gold to trade, the other will soon have nothing, and the one with the weapon will have both. 1,000 years ago, today, or 1,000 years from now. Street bandits prove this every day of the week in a civil society. And they'll be more than plentiful if and when "SHTF", and society is no longer so, "civil".
I did not get the message that owning one precludes me from owning
the other.

Now which should I sell.... Decisions, decisions...
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Old 12-09-2019, 12:58 PM
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Originally Posted by Nomad, 2nd View Post
Now which should I sell.... Decisions, decisions...
It doesn't take much thinking to realize which one will return a profit upon sale.
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Old 12-09-2019, 09:38 PM
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Quote:
Originally Posted by Nomad, 2nd View Post
I did not get the message that owning one precludes me from owning
the other.
bill uses extremes in an attempt to win the argument, so for him, yes, it's one or the other.

He's like a Sith Intern.
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Old 12-10-2019, 02:29 AM
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Originally Posted by PeterWiggin View Post
bill uses extremes in an attempt to win the argument, so for him, yes, it's one or the other.
What's "extreme" is thinking everyone who owns PM's will be armed. If they're not now, why would they be then? As is often said, and you have proven, common sense is not always so common.
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Old 12-10-2019, 08:56 AM
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I don't own Gold, I can't afford it. I have some Silver, around 200 ounces. What concerns me more, is the supply of other metals. The sort of metals that make technology work.

According to Robert Spalding, in his book, Stealth War. He claims that china has secured 90% of the rare earth metals supply. IMHO, this will impact all our lives, from smartphones, Military, Healthcare and everything in between.

This might be the underlying problem with the China/US trade war.

USTR report download.
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Old 12-10-2019, 09:12 AM
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Originally Posted by bill460 View Post
What's "extreme" is thinking everyone who owns PM's will be armed. If they're not now, why would they be then? As is often said, and you have proven, common sense is not always so common.
Dude, you just "agreed 100%" with a scenario that began like this:

Quote:
You magically are transported
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Old 12-11-2019, 04:00 AM
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Originally Posted by Nomad, 2nd View Post
Dude, you just "agreed 100%" with a scenario that began like this........
Yeah, I "agreed" with a hypothetical. That appears to be beyond your comprehension. Why doesn't that surprise me?..... Dude.
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Old 12-11-2019, 11:19 AM
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Originally Posted by bill460 View Post
Yeah, I "agreed" with a hypothetical. That appears to be beyond your comprehension. Why doesn't that surprise me?..... Dude.
Oh I get it. I love time travel Fiction books.

Fiction

Point is you tried to use a "and then MAGIC!!!" scenario to try to make a 'here and now' argument.

Underpants + ?= Profit.

Want to help me out with "which one should I sell"?
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Old 12-11-2019, 02:11 PM
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If we're going to jump around in time, jump from the past to today. For example, how many people are searching for buried Nazi weapons, tanks, guns, etc. to get rich versus how many people are searching for buried Nazi gold.

When they dig up a shipwreck full of gold the gold is worth more than the museum pieces of pottery, ship, cannon, etc., every time. If it's old enough the gold holds double value of weight in gold and collector value.

PMs hold value because they don't degrade over time while everything around them does. It's really as simple as that.
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Old 12-16-2019, 11:51 PM
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There are a number of fees in that calculation I would never pay. If gold is such a bad place to park some of your money then why did central banks start buying a record amount of gold in 2018? Here is a Forbes article. What do they know is coming? Digital currency replacing the dollar? One of many articles on the subject. https://www.forbes.com/sites/greatsp.../#2512b17e3c2d
Don't invest in precious metals to make money. Look at gold as an insurance policy/backup plan. Use other investments such as real estate, stocks and mutual funds to make money.

If you think we are going to end up in a barter situation then you should be loading up on alcohol, tobacco and other things people are going to want and need.

Just my two cents for what it's worth.
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Old 12-17-2019, 02:29 AM
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Originally Posted by Gold Wealth View Post
....... If you think we are going to end up in a barter situation then you should be loading up on alcohol, tobacco and other things people are going to want and need.
This I can agree with. And I would add guns, along with plenty of ammunition to that list of barter-able items.
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