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Old 2011-08-24, 05:45   Link #5421
ganbaru
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Quote:
Originally Posted by Xellos-_^ View Post
thinking further about it. if WW3 breaks out it won't be about oil but fresh water.
Thinking about invading Canada ?...
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Old 2011-08-24, 12:44   Link #5422
Xellos-_^
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Originally Posted by Ithekro View Post
Trading potatoes only works if you need potates. You have 500 potatoes and are growing more. You want to buy something from someone, but he also has more potatoes than he needs...he has no use for your potatoes. Same as more and more potatoes get tossed into the market. Unlike gold, or even unbacked money...the potato grows itself...but it would also devalue itself as you grow more. To the point where people are sick of eating potatoes...sick of looking at potatoes...and more importantly, sink of carrying a sack of potatoes in an attempt to buy other things. The reason for paper money and coins is so someone can carry a lot more currency than if they had to carry items for barter or pounds of metal to trade. How many of you in Commonwealth countries want to go back to actually carrying a pound of silver for each British Pound? How many Pounds is it to buy things these days? Do you think you can carry that much?
i am not arguing that a sack of potato is easier to carry then fiat money. What i am arguing is the value of Gold vs Potato. Fiat money is at least back by the government, what exactly is value of gold back by? Nothing. Absolutely nothing. If you make a list to f useful things you can do with Gold vs Potato. The potato list will outnumber gold by a huge margin. If you make a list of useful metal, gold would rank near the bottom if the bottom.
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Old 2011-08-24, 13:44   Link #5423
Gamer_2k4
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Quote:
Originally Posted by Xellos-_^ View Post
If you make a list to f useful things you can do with Gold vs Potato. The potato list will outnumber gold by a huge margin. If you make a list of useful metal, gold would rank near the bottom if the bottom.
You don't know much about gold, do you? It's BECAUSE gold can be used for so much that it's so valuable.

http://en.wikipedia.org/wiki/Gold#Use_and_applications

Also it's shiny.
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Old 2011-08-24, 13:46   Link #5424
Xellos-_^
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Originally Posted by Gamer_2k4 View Post
You don't know much about gold, do you? It's BECAUSE gold can be used for so much that it's so valuable.

http://en.wikipedia.org/wiki/Gold#Use_and_applications

Also it's shiny.
compare to tin, copper, iron?

i will take back that gold is a useless metal but it is Monetary value still far exceed it is Practical value.
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Old 2011-08-24, 14:20   Link #5425
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Originally Posted by Xellos-_^ View Post
compare to tin, copper, iron?
Well sure. You wouldn't build a bridge with gold, but you wouldn't wire a semiconductor with iron. At the same time, you might not mass-produce gold wires, but you wouldn't coat an astronaut's faceplate with copper, either.

Gold is the best at a lot of things it does (with its high malleability, ductility, conductivity, and superior corrosion resistance), and only its rarity keeps it from being more commonly used in those applications.
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Old 2011-08-24, 14:22   Link #5426
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Rarity is what keeps it valuable and used as a currency. Something so common you can grow it in dirt does not make for a good currency as everyone can easily have lots.
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Old 2011-08-24, 14:24   Link #5427
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Originally Posted by Ithekro View Post
Rarity is what keeps it valuable and used as a currency. Something so common you can grow it in dirt does not make for a good currency as everyone can easily have lots.
we use paper money, the only thing preventing anyone here form printing 100 dollar bills is the law and threat of lots of punishment.
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Old 2011-08-24, 14:30   Link #5428
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Do you want laws and threats preventing you from growing potatoes?
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Old 2011-08-24, 14:35   Link #5429
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Do you want laws and threats preventing you from growing potatoes?
no laws against digging up and using gold or any metal as a currency either. As far as rarity, gold is rare but not that rare, like diamond, the rarity is man made not a natural by product.
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Old 2011-08-24, 14:52   Link #5430
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Originally Posted by Ithekro View Post
Rarity is what keeps it valuable and used as a currency. Something so common you can grow it in dirt does not make for a good currency as everyone can easily have lots.
Though the fact that it'd be consumed, thus removing it from the market, can counter-balance that fact. You don't eat paper or metal currency, so that's why rarity is an important factor (for metal, at least).
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Old 2011-08-24, 15:52   Link #5431
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Originally Posted by Xellos-_^ View Post
no laws against digging up and using gold or any metal as a currency either. As far as rarity, gold is rare but not that rare, like diamond, the rarity is man made not a natural by product.
If it wasn't rare, we wouldn't have gold rushes. And yet, we still do, even though gold isn't even the standard of currency anymore. In contrast, when was the last time you heard of a diamond rush?
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Old 2011-08-24, 16:37   Link #5432
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If it wasn't rare, we wouldn't have gold rushes. And yet, we still do, even though gold isn't even the standard of currency anymore. In contrast, when was the last time you heard of a diamond rush?
because society place too much value on it. A value that far exceed it is practical use.
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Old 2011-08-24, 16:40   Link #5433
ganbaru
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Ohio town frets its huge, old flagpole is a hazard
http://hosted.ap.org/dynamic/stories...08-24-11-56-53

Fallen canisters cause closure of Nashville ramp
http://hosted.ap.org/dynamic/stories...08-23-11-15-58
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Old 2011-08-24, 18:05   Link #5434
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Quote:
Originally Posted by Gamer_2k4 View Post
If it wasn't rare, we wouldn't have gold rushes. And yet, we still do, even though gold isn't even the standard of currency anymore. In contrast, when was the last time you heard of a diamond rush?
Diamonds aren't rare. They are quite common, actually... the industry just tightly controls the rate of sale and production.
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Old 2011-08-24, 18:16   Link #5435
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Thank you for seeing the exact point I was making.
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Old 2011-08-24, 18:17   Link #5436
Konakaga
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Originally Posted by synaesthetic View Post
Diamonds aren't rare. They are quite common, actually... the industry just tightly controls the rate of sale and production.
Don't forget claiming/campaigns to stop synthetic diamonds from being a replacement for their "blood Real Natural Diamonds" .
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Old 2011-08-24, 21:00   Link #5437
SaintessHeart
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What actually give gold its ridiculously high value is the propensity for people to hoard it underground instead of using it to make equipment. The same would happen to any other metal if they are treated the same way.

OK here is some interesting food-for-thought :

What's Goldman's Future on Wall Street?
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
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Old 2011-08-24, 21:55   Link #5438
Vexx
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I think this gold vs potato argument certainly qualifies as amusing if not silly (though hopefully its educational for anyone reading who has just taken "value" for granted.
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Old 2011-08-25, 05:09   Link #5439
ganbaru
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Arizona man accused of stuffing snakes down shorts
http://hosted.ap.org/dynamic/stories...08-25-01-12-38
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Old 2011-08-25, 05:16   Link #5440
SaintessHeart
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Originally Posted by Vexx View Post
I think this gold vs potato argument certainly qualifies as amusing if not silly (though hopefully its educational for anyone reading who has just taken "value" for granted.
I blame Xellos for attempting to hype up on the value of the potato.....he's probably trying to sell some insurance for potato trading. J/king.
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When three puppygirls named after pastries are on top of each other, it is called Eclair a'la menthe et Biscotti aux fraises avec beaucoup de Ricotta sur le dessus.
Most of all, you have to be disciplined and you have to save, even if you hate our current financial system. Because if you don't save, then you're guaranteed to end up with nothing.
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