News Stories

[GundamFan0083]

I'll let Robert Kiyosaki explain to all of you why gold/precious commodities are superior to fiat money , because it's clear none of you here understand it.

Gold verses the fiat dollar:

[Xellos-_^]

Originally Posted by GundamFan0083

I'll let Robert Kiyosaki explain to all of you why gold/precious commodities are superior to fiat money , because it's clear none of you here understand it.

Spoiler:

Gold verses the fiat dollar:

i prefer the potato standard

gold is only valuable because we agree it is, right? It’s just a dream. But a potato is
always worth a potato, anywhere. Add a knob of butter and a pinch of salt and you’ve got a meal, anywhere.
Bury gold in the ground and you’ll be worrying about thieves forever. Bury a potato and in due season you
could be looking at a dividend of a thousand percent

- Terry Pratchett

[Vexx]

I remember taking a small bath in losses when the Hunt Brothers manipulated the silver market in the 80s....

[DonQuigleone]

You know who advertises silver and gold panic buying to guard against inflation?

Gold and Silver mine owners!

What value does Gold and Silver have? None! It's only value is that people want it, like normal money...

What I want to know, is what will happen to all the people who panic bought precious metals when people decide to start selling theirs and convert it to usable cash? Exactly what happened to Vexx.

Now I can't really reccomend an alternative investment either, it's not gold though. Probably stocks in Pornography, Alcohol or Tobacco would be a good idea, people are always buying those.

[Xellos-_^]

Originally Posted by DonQuigleone

You know who advertises silver and gold panic buying to guard against inflation?

Gold and Silver mine owners!

What value does Gold and Silver have? None! It's only value is that people want it, like normal money...

What I want to know, is what will happen to all the people who panic bought precious metals when people decide to start selling theirs and convert it to usable cash? Exactly what happened to Vexx.

Now I can't really reccomend an alternative investment either, it's not gold though. Probably stocks in Pornography, Alcohol or Tobacco would be a good idea, people are always buying those.

Cocaine also holds it's value, and takes up no space!

land,

if nothing else it is some place you can live and grow food on.

[DonQuigleone]

Originally Posted by Xellos-_^

land,

if nothing else it is some place you can live and grow food on.

I'd recomend Land too, were it not for the fact that the recent recession was caused by a bubble based on property (and land) speculation. Not only that but land prices are still inflated too.

However it depends on the region and type of land. You may be able to do something with farm land or forestry.

[killer3000ad]

SNSD (Girls Generation) attacked on stage by stranger, tries to drag Taeyeon off

I am pretty sure he just wanted her autograph. /sarc

[Vexx]

Originally Posted by killer3000ad

SNSD (Girls Generation) attacked on stage by stranger, tries to drag Taeyeon off

I am pretty sure he just wanted her autograph. /sarc

okay, that was seriously strange.... even stranger was half the group didn't seem to key in that something was going wrong.

[synaesthetic]

Precious metals do have significant value.

Silver and gold are frequently used in a lot of technology. Gold is especially useful where corrosion is a concern--geothermal power plants make liberal use of gold due to the extremely volatile gases encountered in these locations.

Silver is used extensively in electronics, especially with the RoHS standard, which most European countries have adopted, which bans the use of lead in solder. Silver is also used in film photography (particularly black & white photography) and in many chemical and electrical applications. Platinum is used as the anode in hydrogen fuel cells as well as in the automotive industry (spark plug contacts).

These uses are all much more important and pragmatic than silly jewelry.

[FatPianoBoy]

Originally Posted by Vexx

okay, that was seriously strange.... even stranger was half the group didn't seem to key in that something was going wrong.

It looked like a typical reaction to me. I've performed on stage before, and generally your mindset is to keep doing your thing regardless of what happens around you. Unless the fire alarm goes off or the music stops, which is what snapped them out of it in this case.

[Xellos-_^]

Originally Posted by synaesthetic

Precious metals do have significant value.

Silver and gold are frequently used in a lot of technology. Gold is especially useful where corrosion is a concern--geothermal power plants make liberal use of gold due to the extremely volatile gases encountered in these locations.

Silver is used extensively in electronics, especially with the RoHS standard, which most European countries have adopted, which bans the use of lead in solder. Silver is also used in film photography (particularly black & white photography) and in many chemical and electrical applications. Platinum is used as the anode in hydrogen fuel cells as well as in the automotive industry (spark plug contacts).

These uses are all much more important and pragmatic than silly jewelry.

but on a desert island, would you rather have a pound of precious metal or a pound of potato?

[Anh_Minh]

That precious metal... Is it in the form of tools like knives and such?

[Vexx]

(shrug) the *industrial value* of gold/silver/diamonds is far, far less than the currently hyper-silly speculative value on the metals market (which frankly smells way too much of shenanigans by the Big Boy players ala Hunt Bros.).

metals have no intrinsic value outside of what you can *do* with them. Anything else is the consensus agreement that it has some arbitrary value and it is just another commodity like pork, salt, or other barter equivalent.

[Roger Rambo]

Originally Posted by killer3000ad

SNSD (Girls Generation) attacked on stage by stranger, tries to drag Taeyeon off

I am pretty sure he just wanted her autograph. /sarc

What happened off screen? Did the SNSD girl get pulled down?

I'll admit. Having something like this happen to a famous celebrity group in the middle of a performance is kind of surprising. I wouldn't expect security to even let someone like that get on stage, much less start dragging a vip away. I'd definitely have expected for the guy to get violently dog pilled afterward.


Though doing something like this live is pretty damn crazy. I'm inclined to think mental illness was involved.

[DonQuigleone]

Originally Posted by synaesthetic

Precious metals do have significant value.

Silver and gold are frequently used in a lot of technology. Gold is especially useful where corrosion is a concern--geothermal power plants make liberal use of gold due to the extremely volatile gases encountered in these locations.

Silver is used extensively in electronics, especially with the RoHS standard, which most European countries have adopted, which bans the use of lead in solder. Silver is also used in film photography (particularly black & white photography) and in many chemical and electrical applications. Platinum is used as the anode in hydrogen fuel cells as well as in the automotive industry (spark plug contacts).

These uses are all much more important and pragmatic than silly jewelry.

That's true, but those are not enough to justify the high value they have. Frankly, something like Tungsten or Titanium is a lot more useful. Don't see people buying those up.

Frankly the best thing to do is to get stocks or bonds, particularly in a business you're familiar with. Particularly low-risk stock. For instance a company that dominates a key niche, say mining or chemicals, isn't going to disappear anytime soon.

[Kamui4356]

Originally Posted by Xellos-_^

but on a desert island, would you rather have a pound of precious metal or a pound of potato?

The problem with the potato standard is a resurgence of potato blight can completely crash your economy. You might want to hedge against this by backing your currency with wheat, corn, oats, rice, and barley in addition to potatoes.

[Xellos-_^]

Originally Posted by Kamui4356

The problem with the potato standard is a resurgence of potato blight can completely crash your economy. You might want to hedge against this by backing your currency with wheat, corn, oats, rice, and barley in addition to potatoes.

and Peanuts and Dates.

The worlds civilizations was built on these items. A much more solid value then something like gold and silver.

[SaintessHeart]

Originally Posted by GundamFan0083

I'll let Robert Kiyosaki explain to all of you why gold/precious commodities are superior to fiat money , because it's clear none of you here understand it.

Gold verses the fiat dollar:

I'll let a real trader explain to you why gold and silver aren't exactly worth what they are :

Why I Don’t Trade Gold

Btw, Kiyosaki's books are motivational at best. Even Donald Trump's "You have Three Minutes!" is worth much more in content than his "Rich Dad" series.

Originally Posted by Xellos-_^

and Peanuts and Dates.

The worlds civilizations was built on these items. A much more solid value then something like gold and silver.

And rice and fish. SEA live on those!

[GundamFan0083]

Aw, for shame.
None of you even mentioned Feudal Japan using rice as currency...and you call yourselves anime fans.

I'm also surprised, since all of you are having so much fun with this, that none of you mentioned silver's use to kill werewolves or the like.

I can sit back and smile about this, because I've benefitted greatly from putting part of my portfolio in precious metals.
I do agree with DonQuigleone in part.
It is wise to diversify your wealth into various areas, including stocks and bonds.
But for security precious metals are best.
In 1998 I purchased 1000 ounces of silver (in 1 ounce rounds) for $5250.00, that's $5.25 per ounce.
I also purchased gold (won't tell how much ) at $285.00/ounce in 2000.
You can probably guess why I trust gold and silver over everything else.

@SaintessHeart, I read the gent's article but couldn't stop laughing at it because of the Goldline advertisement on the page.
His admission on how "Tricky Dick" took us off the gold exchange system (which in turn caused massive inflation in the 1970s) is more proof of why fiat money is worse than specie money than it does to support the current fiat based system.

Anyway, this is supposed to be the news stories thread and I've hijacked it long enough.

BRICS Make Move to Shove Dollar Aside
http://finance.yahoo.com/banking-bud...&asset=&ccode=

Wall Street shares slump as S&P downgrades US debt outlook
http://www.guardian.co.uk/business/2...-credit-rating

[SaintessHeart]

Originally Posted by GundamFan0083

Aw, for shame.
None of you even mentioned Feudal Japan using rice as currency...and you call yourselves anime fans.

If you are done with personal attacks and caustic remarks, please write something civil and useful. Thank you.

I can sit back and smile about this, because I've benefitted greatly from putting part of my portfolio in precious metals.
I do agree with DonQuigleone in part.
It is wise to diversify your wealth into various areas, including stocks and bonds.
But for security precious metals are best.
In 1998 I purchased 1000 ounces of silver (in 1 ounce rounds) for $5250.00, that's $5.25 per ounce.
I also purchased gold (won't tell how much ) at $285.00/ounce in 2000.
You can probably guess why I trust gold and silver over everything else.

Investing and trading is "whatever works for you". I don't trade gold or silver because I can't find any ratios or data other than basing it entirely on market stupidity sentiment. And that by itself, is a huge risk I refuse to take.

If you want security, I'd say financial education and an understanding of macroeconomics is the best. A series of sizeable trades offsets the risk by diversification, but a single trade in a single commodity can wipe out your entire capital.

Finally, the precious metals trick will happen again, but the profit increase won't be as much as compared to regular investing - because people get smarter, but there will be some stupid ones around, and the stupid ones don't have as much cash as the smart ones so you won't earn as much from them as the smart ones who make mistakes in their trades.