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peterb.
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February 24, 2009 at 2:08 PM #354358February 24, 2009 at 2:47 PM #353864
sdduuuude
ParticipantSteel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons.
February 24, 2009 at 2:47 PM #354175ParticipantSteel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons.
February 24, 2009 at 2:47 PM #354307ParticipantSteel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons.
February 24, 2009 at 2:47 PM #354336ParticipantSteel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons.
February 24, 2009 at 2:47 PM #354443ParticipantSteel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons.
February 24, 2009 at 3:42 PM #353934Nor-LA-SD-guy
Participant[quote=sdduuuude]Steel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons. [/quote]
OK I guess holding some Gold would not hurt, I would not count on it going to $3000/oz (or even $1500), and I would not buy so much that it hurts a lot if it were to go to $500/oz .
Maybe a share of a farm would be better , in the end I think it’s about the same.
February 24, 2009 at 3:42 PM #354245Participant[quote=sdduuuude]Steel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons. [/quote]
OK I guess holding some Gold would not hurt, I would not count on it going to $3000/oz (or even $1500), and I would not buy so much that it hurts a lot if it were to go to $500/oz .
Maybe a share of a farm would be better , in the end I think it’s about the same.
February 24, 2009 at 3:42 PM #354377Participant[quote=sdduuuude]Steel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons. [/quote]
OK I guess holding some Gold would not hurt, I would not count on it going to $3000/oz (or even $1500), and I would not buy so much that it hurts a lot if it were to go to $500/oz .
Maybe a share of a farm would be better , in the end I think it’s about the same.
February 24, 2009 at 3:42 PM #354406Participant[quote=sdduuuude]Steel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons. [/quote]
OK I guess holding some Gold would not hurt, I would not count on it going to $3000/oz (or even $1500), and I would not buy so much that it hurts a lot if it were to go to $500/oz .
Maybe a share of a farm would be better , in the end I think it’s about the same.
February 24, 2009 at 3:42 PM #354513Participant[quote=sdduuuude]Steel can be manufactured. Gold cannot. It is also difficult to destroy. Practically, the amount of gold in the world is fixed – some is available to trade and some is buried. So, it makes a decent “storage mechanism for value” otherwise known as money.
Fluctuations in the bread/gold ratio are likely due to weather and farming conditions more so than fluctuations in gold.
Carrying 300 loaves of bread in your backpack would be cumbersome with steel.
At $1000/oz, a millionaire would only need 63 pounds of gold to store all his wealth. At $2/pound, a million dollars of steel would weigh 250 tons. [/quote]
OK I guess holding some Gold would not hurt, I would not count on it going to $3000/oz (or even $1500), and I would not buy so much that it hurts a lot if it were to go to $500/oz .
Maybe a share of a farm would be better , in the end I think it’s about the same.
February 24, 2009 at 4:12 PM #353964scaredyclassic
Participantim not really a super gold bug. i agree. it’s oot the sort of thing to put all your eggs in one basket. but i’ve made a little over the last 3 -4 years, and I kinda beleive in it as a percentage, like insurance….i think it has some possibility to do well compared to other investments. I’d say 25% of portfolio. that’s me, personally.
if I could have put my 401k all in a few years back, though, i woulda done it. i think there’ sosme point outt her ein the future where economic dislocation will cause some amazing thing to happen to gold price…
February 24, 2009 at 4:12 PM #354275Participantim not really a super gold bug. i agree. it’s oot the sort of thing to put all your eggs in one basket. but i’ve made a little over the last 3 -4 years, and I kinda beleive in it as a percentage, like insurance….i think it has some possibility to do well compared to other investments. I’d say 25% of portfolio. that’s me, personally.
if I could have put my 401k all in a few years back, though, i woulda done it. i think there’ sosme point outt her ein the future where economic dislocation will cause some amazing thing to happen to gold price…
February 24, 2009 at 4:12 PM #354407Participantim not really a super gold bug. i agree. it’s oot the sort of thing to put all your eggs in one basket. but i’ve made a little over the last 3 -4 years, and I kinda beleive in it as a percentage, like insurance….i think it has some possibility to do well compared to other investments. I’d say 25% of portfolio. that’s me, personally.
if I could have put my 401k all in a few years back, though, i woulda done it. i think there’ sosme point outt her ein the future where economic dislocation will cause some amazing thing to happen to gold price…
February 24, 2009 at 4:12 PM #354436Participantim not really a super gold bug. i agree. it’s oot the sort of thing to put all your eggs in one basket. but i’ve made a little over the last 3 -4 years, and I kinda beleive in it as a percentage, like insurance….i think it has some possibility to do well compared to other investments. I’d say 25% of portfolio. that’s me, personally.
if I could have put my 401k all in a few years back, though, i woulda done it. i think there’ sosme point outt her ein the future where economic dislocation will cause some amazing thing to happen to gold price…
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