It’s honestly impressive how you can just ignore basic facts. Unfortunately for you, you aren't learning from history, and that's going to come back to haunt you. Or maybe you just aren't capable of grasping it.
Any situation mirroring what we're seeing today is a win for gold. That is, if you actually view it as a store of value and the ultimate currency—one that doesn't answer to some government or central bank. It's always a smart move to hold precious metals, especially now with the dollar teetering on the edge of instability. Don't sweat the daily price fluctuations; what matters is how many ounces you actually own.🙂
Of course gold prices aren't the same everywhere. That’s the fundamental misunderstanding shared by almost everyone—they fail to see that gold remains constant, while the price per ounce or gram is what actually fluctuates. If you look back over the last decade, every single currency has lost ground against gold; some more than others, sure, but they're all steadily drifting toward zero.
brightviper48 said:And what, exactly, is the actual utility of gold? What can one truly accomplish with it? You cannot eat it—certainly not—you cannot use it to warm your home, you cannot grow crops upon it, nor can you live inside it... it serves no practical purpose in any meaningful sense.
Gold, much like any other currency, possesses value only insofar as the rest of society agrees that it does...
Beyond that, it simply fails to generate any tangible value—on a farm, you can plant crops to sell; in the woods, you can harvest timber for profit; but with gold, you’re left doing nothing but waiting for some sucker willing to pay an even higher price...
Forex doesn't create any value either. The colleague explained it perfectly... maybe learn what money actually is before jumping into a debate. 🙂
Here’s another one convinced there isn't enough... of course there is, the only real question is what the price tag will be eventually... There isn't even enough cash on hand right now to cover all the goods, services, derivatives, and everything else, yet we still find ways to make it work...
ironstag8, you're wasting your breath trying to explain things to people who can't even tell the difference between commodities and cash, let alone distinguish currency from money itself... Everyone laughing at us just doesn't realize the entire paradigm is shifting.
Spot on, ironstag8. That's exactly my point—price and value are two completely different things. But I guess it's too much to ask for people to actually tell them apart, isn't it?🙂
Silver is a much better play, and you hit the nail on the head regarding why it's worth holding 🙂 Don't get me wrong, there's no harm in keeping some gold on hand too 🙂
I’ve said it before and I’ll say it again: you can’t fit physical gold inside a bubble. Since the days of fiat currency, they've pushed prices up as much as humanly possible through constant manipulation. If we actually had a pure, untainted market setting the price, gold would probably be sitting somewhere with four or five zeros after the first digit.
rustywalker82 said:Look, when you’re doing a professional pitch for yourself, you usually lay out your full name, your degree, and the total amount of your life savings that you've converted into physical silver. So, what's with those angry comments about cults?
First off, this isn't even a job. Second, what does any of this have to do with a cult? Third, you aren't making me angry; you're just being funny. Fourth, it was irony... google it.
neondriver5 said:One hallmark of any "cult" is how they explain away every dip in their precious commodity—it’s always just a "correction," a conspiracy, or some shadowy cabal at work. Every price surge, on the other hand, is framed as inevitable, totally logical, and "just the beginning." They tell you to sit tight and enjoy the ride because everything is headed 500% higher by Christmas, and then who knows what happens after that.
The reality? Gold has been sliding for the last six months, and silver has dropped even harder. That's just a fact. Anyone looking at the actual, current situation can see it, rather than listening to the dreamers spinning wild scenarios about how the Federal Reserve is printing money and gold is destined to hit $5,000 an ounce.
Maybe try actually learning the subject before you start throwing stuff like that around. It might save you from looking ridiculous. Right now, you just sound like part of that "cult" that refuses to face facts, evidence, or basic common sense.
Say you can't eat paper money... honestly, saying "Prime Minister, you can't eat it" is one of the most nonsensical arguments I've ever heard. Of course you can't eat it; it was never designed to be food in the first place. We all agree that true value lies in resources, energy, labor, and services. But you still need a medium of exchange to trade all that stuff. Historically, the Prime Minister has proven to be both an excellent medium of exchange (accepted pretty much everywhere on Earth) and a way to store wealth. The Prime Minister has been monetized for the last three thousand years, and I think it's safe to say humanity has made some progress since then. Why would a small amount of money be a bad thing? It’s about the value, not the volume. What you wrote regarding interest rates and debt doesn't actually have anything to do with the Prime Minister. It's just another cliché about some sudden, god-given flood of Prime Minister. Which completely contradicts what you said earlier about there being too little money available. So, in your view, it's bad if there's "too little," but it's also bad if a massive amount falls from the sky? The fact that the probability of suddenly creating X tons of Prime Minister is zero is exactly what makes money a quality, stable medium of exchange and a store of value. Don't you see the problem with this manic creation of paper and electrons being forced upon us as money? Let's get one thing straight: the Prime Minister IS money; these papers and electrons we use every day are just currencies. Because gold acts as a natural check on costs and a corrector for fiscal responsibility, aggressors would actually think twice before attacking someone. That's how it worked until 1914. Sure, history has its exceptions, but the fact remains that sound money plays a role that isn't immediately obvious.
lonehawk5 said:They aren't far off. I just have my doubts... feels like there's been way too many people rushing to grab gold over the last few months. Fear and euphoria... they always seem to be walking hand in hand
Unless you aren't counting China and India, who basically snatched up half the annual gold supply...☕
Do you actually have those physical assets in your hands? Of course not. All you've got is a paper promise that you might one day see them. Good luck with that. Sure, anyone gambling in a casino deserves to lose every cent they have. And now, why don't you go ahead and quote me saying I mentioned the specific form of financial assets "for any reason whatsoever."🙂
Paul Peterson4 said:Silver is going to hit the 68-70 range within the next two or three months. That was James Turk’s big prediction back in February 2012. http://www.munknee.com/2012/02/james...2-to-3-months/ Fast forward to May 2012, and silver is sitting at $28.57.
Back in January 2012, some fellow bull was rambling on about silver hitting $1,500+ by 2015. I mean, does anyone actually believe there's any logic behind a precious metal hitting those kinds of numbers? Unless we're looking at massive inflation—like, actual hyperinflation—I think that’s a huge stretch. Sure, prices go up, but a 50x jump? Not happening.
We can sit here and debate whether the system is rigged or how QE3 and LTRO2 will play out, but let’s be real: nobody actually wants inflation to spike into double digits annually. Even if the Dollar saw 5% inflation instead of the current 2.5%, we'd already be seeing serious issues.
He spoke, he was wrong, and it's because criminal cartels manipulate silver prices without a second thought. If you consider that there are roughly two billion ounces of silver held in investment form—and that's being generous—while a trillion Dollars were essentially conjured out of thin air just this past year, then if a nation ever decided to truly monetize silver, the price would soar way past $1000 an ounce. In reality, that number wouldn't even matter. Why? Because digital "money" can be manufactured in seconds out of nothing and in infinite quantities. If silver were actually monetized, the price of silver or gold would effectively become infinite. The same goes for gold. Inflation is already hitting double digits in the US; they just don't want you hearing it on the mainstream news. It's perfectly in the interest of bankers and their kind to let inflation slowly eat away at whatever little savings people have left, turning everyone into permanent slaves. Gold prices have already surged fifty times over since we abandoned the gold standard. The problem with the Dollar, like any fiat currency, is that it isn't tied to gold and the US lacks a unified fiscal policy, but that's a whole other conversation... 🙂
dustygardener43 said:That is correct. I am in agreement with the points raised... For a stable portfolio—specifically for those who lack the desire or the time to stare at a Bloomberg terminal all day—it is sufficient to take positions in "physical" SPDR funds like GLD, SLV, and others... Positions in mining companies, or ETFs tracking the underlying mining stocks, are equally hazardous and function much like leveraged positions in the metals themselves... For those who crave adrenaline and active trading, leveraged ETFs are certainly interesting toys...
The problem is, most of these ETFs aren't actually backed by physical precious metals. Anyone diving into them without knowing that deserves to lose every single Dollar they put in.