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jficquette
Participant[quote=4plexowner]john, if you read anything besides anonymous real estate blogs you would realize that gold is far more likely to be re-valued upwards
the US gold is held on the Fed’s books at a value of $42/oz – for them to balance their current books against all the worthless paper they have taken on, all they would have to do is revalue gold at $6000/oz and the books are balanced
you are also being intentionally deceptive (or maybe just uninformed) – gold was revalued from $20/oz to $35/oz – that’s over 60% INCREASE in price
human beings have been choosing gold for at least 5000 years and are currently doing so in spades – that is why gold is at or near all time highs in most currencies[/quote]
If Gold becomes the standard it will be valued as all commodities are just above the cost of production. The difference now between cost of production and its price is the fear factor. You take out the fear factor when you put the system on Gold. Without fear, Gold is only worth what it costs to get it out of the ground and refined.
Balancing the books is not necessary when you throw out an economic system and instigate a new one. You wouldn’t set up a new basis that included the garbarge from before. That is the whole point.
Gold bugs are suckers.
John
Participant[quote=4plexowner]john, if you read anything besides anonymous real estate blogs you would realize that gold is far more likely to be re-valued upwards
the US gold is held on the Fed’s books at a value of $42/oz – for them to balance their current books against all the worthless paper they have taken on, all they would have to do is revalue gold at $6000/oz and the books are balanced
you are also being intentionally deceptive (or maybe just uninformed) – gold was revalued from $20/oz to $35/oz – that’s over 60% INCREASE in price
human beings have been choosing gold for at least 5000 years and are currently doing so in spades – that is why gold is at or near all time highs in most currencies[/quote]
If Gold becomes the standard it will be valued as all commodities are just above the cost of production. The difference now between cost of production and its price is the fear factor. You take out the fear factor when you put the system on Gold. Without fear, Gold is only worth what it costs to get it out of the ground and refined.
Balancing the books is not necessary when you throw out an economic system and instigate a new one. You wouldn’t set up a new basis that included the garbarge from before. That is the whole point.
Gold bugs are suckers.
John
Participant[quote=4plexowner]john, if you read anything besides anonymous real estate blogs you would realize that gold is far more likely to be re-valued upwards
the US gold is held on the Fed’s books at a value of $42/oz – for them to balance their current books against all the worthless paper they have taken on, all they would have to do is revalue gold at $6000/oz and the books are balanced
you are also being intentionally deceptive (or maybe just uninformed) – gold was revalued from $20/oz to $35/oz – that’s over 60% INCREASE in price
human beings have been choosing gold for at least 5000 years and are currently doing so in spades – that is why gold is at or near all time highs in most currencies[/quote]
If Gold becomes the standard it will be valued as all commodities are just above the cost of production. The difference now between cost of production and its price is the fear factor. You take out the fear factor when you put the system on Gold. Without fear, Gold is only worth what it costs to get it out of the ground and refined.
Balancing the books is not necessary when you throw out an economic system and instigate a new one. You wouldn’t set up a new basis that included the garbarge from before. That is the whole point.
Gold bugs are suckers.
John
Participant[quote=4plexowner]john, if you read anything besides anonymous real estate blogs you would realize that gold is far more likely to be re-valued upwards
the US gold is held on the Fed’s books at a value of $42/oz – for them to balance their current books against all the worthless paper they have taken on, all they would have to do is revalue gold at $6000/oz and the books are balanced
you are also being intentionally deceptive (or maybe just uninformed) – gold was revalued from $20/oz to $35/oz – that’s over 60% INCREASE in price
human beings have been choosing gold for at least 5000 years and are currently doing so in spades – that is why gold is at or near all time highs in most currencies[/quote]
If Gold becomes the standard it will be valued as all commodities are just above the cost of production. The difference now between cost of production and its price is the fear factor. You take out the fear factor when you put the system on Gold. Without fear, Gold is only worth what it costs to get it out of the ground and refined.
Balancing the books is not necessary when you throw out an economic system and instigate a new one. You wouldn’t set up a new basis that included the garbarge from before. That is the whole point.
Gold bugs are suckers.
John
Participant[quote=air_ogi]Out of curiosity, why do so many real estate bears feel that gold at 3x its 2001 price is a great investment, while real estate at 1.5x its 2001 price will continue to decline?
[/quote]
LOL good point. “Yeah honey, this house on the ocean is a shitty deal but lets buy some gold at a $1k an oz.”
Participant[quote=air_ogi]Out of curiosity, why do so many real estate bears feel that gold at 3x its 2001 price is a great investment, while real estate at 1.5x its 2001 price will continue to decline?
[/quote]
LOL good point. “Yeah honey, this house on the ocean is a shitty deal but lets buy some gold at a $1k an oz.”
Participant[quote=air_ogi]Out of curiosity, why do so many real estate bears feel that gold at 3x its 2001 price is a great investment, while real estate at 1.5x its 2001 price will continue to decline?
[/quote]
LOL good point. “Yeah honey, this house on the ocean is a shitty deal but lets buy some gold at a $1k an oz.”
Participant[quote=air_ogi]Out of curiosity, why do so many real estate bears feel that gold at 3x its 2001 price is a great investment, while real estate at 1.5x its 2001 price will continue to decline?
[/quote]
LOL good point. “Yeah honey, this house on the ocean is a shitty deal but lets buy some gold at a $1k an oz.”
Participant[quote=air_ogi]Out of curiosity, why do so many real estate bears feel that gold at 3x its 2001 price is a great investment, while real estate at 1.5x its 2001 price will continue to decline?
[/quote]
LOL good point. “Yeah honey, this house on the ocean is a shitty deal but lets buy some gold at a $1k an oz.”
Participant[quote=peterb]Gold and the US$ did well today….who’d a thunk it?! I think this is fear speaking to the market. Stocks are hurting and the US$ and gold rising. The market is starting to treat gold like honest money and the US$ as at least as good as the other fiats, if not better. Govt policies are going to ZIRP on fiat currencies. These guys are scared and this is their answer to solve the problem. Make money almost free to the banks. Only one problem, the banks are insolvent. Perhaps if the govts’ get crazy enough, they’ll destabilize their currencies? It’s a possibility that favours gold.[/quote]
If we turn to Gold it won’t be freely traded. It will be a set exchange rate as before.
That mean anyone buying Gold at $1k a ounce is going to get hosed when they set up the exchange rate at $300-$400 an oz. The last time it was used it was set at $35 an oz.
John
Participant[quote=peterb]Gold and the US$ did well today….who’d a thunk it?! I think this is fear speaking to the market. Stocks are hurting and the US$ and gold rising. The market is starting to treat gold like honest money and the US$ as at least as good as the other fiats, if not better. Govt policies are going to ZIRP on fiat currencies. These guys are scared and this is their answer to solve the problem. Make money almost free to the banks. Only one problem, the banks are insolvent. Perhaps if the govts’ get crazy enough, they’ll destabilize their currencies? It’s a possibility that favours gold.[/quote]
If we turn to Gold it won’t be freely traded. It will be a set exchange rate as before.
That mean anyone buying Gold at $1k a ounce is going to get hosed when they set up the exchange rate at $300-$400 an oz. The last time it was used it was set at $35 an oz.
John
Participant[quote=peterb]Gold and the US$ did well today….who’d a thunk it?! I think this is fear speaking to the market. Stocks are hurting and the US$ and gold rising. The market is starting to treat gold like honest money and the US$ as at least as good as the other fiats, if not better. Govt policies are going to ZIRP on fiat currencies. These guys are scared and this is their answer to solve the problem. Make money almost free to the banks. Only one problem, the banks are insolvent. Perhaps if the govts’ get crazy enough, they’ll destabilize their currencies? It’s a possibility that favours gold.[/quote]
If we turn to Gold it won’t be freely traded. It will be a set exchange rate as before.
That mean anyone buying Gold at $1k a ounce is going to get hosed when they set up the exchange rate at $300-$400 an oz. The last time it was used it was set at $35 an oz.
John
Participant[quote=peterb]Gold and the US$ did well today….who’d a thunk it?! I think this is fear speaking to the market. Stocks are hurting and the US$ and gold rising. The market is starting to treat gold like honest money and the US$ as at least as good as the other fiats, if not better. Govt policies are going to ZIRP on fiat currencies. These guys are scared and this is their answer to solve the problem. Make money almost free to the banks. Only one problem, the banks are insolvent. Perhaps if the govts’ get crazy enough, they’ll destabilize their currencies? It’s a possibility that favours gold.[/quote]
If we turn to Gold it won’t be freely traded. It will be a set exchange rate as before.
That mean anyone buying Gold at $1k a ounce is going to get hosed when they set up the exchange rate at $300-$400 an oz. The last time it was used it was set at $35 an oz.
John
Participant[quote=peterb]Gold and the US$ did well today….who’d a thunk it?! I think this is fear speaking to the market. Stocks are hurting and the US$ and gold rising. The market is starting to treat gold like honest money and the US$ as at least as good as the other fiats, if not better. Govt policies are going to ZIRP on fiat currencies. These guys are scared and this is their answer to solve the problem. Make money almost free to the banks. Only one problem, the banks are insolvent. Perhaps if the govts’ get crazy enough, they’ll destabilize their currencies? It’s a possibility that favours gold.[/quote]
If we turn to Gold it won’t be freely traded. It will be a set exchange rate as before.
That mean anyone buying Gold at $1k a ounce is going to get hosed when they set up the exchange rate at $300-$400 an oz. The last time it was used it was set at $35 an oz.
John
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