[mrwrong]

All these bickering about being Chinese or Taiwanese reminds me what Bill Clinton once said in an interview: “(The biggest problem confronting our world) is the illusion that our differences matter more than our common humanity.”

Not a big Bill Clinton fan per se, but I think he was right on when he said that.

[mrwrong]

Food is perishable thus cannot be stored for a long period of time. If people believe that there is going to be serious inflation in the near future, then they have to get rid of the surplus cash after buying all the necessities, food, shelter, and etc. Historically people have chosen precious metals for preserving the purchasing power of their savings during times of inflation. In the early months of 1980, when gold was at the previous bull market high, there was a long line of people outside a local coin shop waiting to buy gold, or so I was told. Trust me, if and when gold is at $1500, you will not have trouble finding a buyer. I’m not saying $1500 is the price to sell, just to say you can sell at that price easily if it gets there.

With regard to who sets the price of gold, the market does. There has been a market for gold for thousands of years. Again when people start to lose faith in paper, gold will become more valuable.

[mrwrong]

Food is perishable thus cannot be stored for a long period of time. If people believe that there is going to be serious inflation in the near future, then they have to get rid of the surplus cash after buying all the necessities, food, shelter, and etc. Historically people have chosen precious metals for preserving the purchasing power of their savings during times of inflation. In the early months of 1980, when gold was at the previous bull market high, there was a long line of people outside a local coin shop waiting to buy gold, or so I was told. Trust me, if and when gold is at $1500, you will not have trouble finding a buyer. I’m not saying $1500 is the price to sell, just to say you can sell at that price easily if it gets there.

With regard to who sets the price of gold, the market does. There has been a market for gold for thousands of years. Again when people start to lose faith in paper, gold will become more valuable.

[mrwrong]

Food is perishable thus cannot be stored for a long period of time. If people believe that there is going to be serious inflation in the near future, then they have to get rid of the surplus cash after buying all the necessities, food, shelter, and etc. Historically people have chosen precious metals for preserving the purchasing power of their savings during times of inflation. In the early months of 1980, when gold was at the previous bull market high, there was a long line of people outside a local coin shop waiting to buy gold, or so I was told. Trust me, if and when gold is at $1500, you will not have trouble finding a buyer. I’m not saying $1500 is the price to sell, just to say you can sell at that price easily if it gets there.

With regard to who sets the price of gold, the market does. There has been a market for gold for thousands of years. Again when people start to lose faith in paper, gold will become more valuable.

[mrwrong]

Food is perishable thus cannot be stored for a long period of time. If people believe that there is going to be serious inflation in the near future, then they have to get rid of the surplus cash after buying all the necessities, food, shelter, and etc. Historically people have chosen precious metals for preserving the purchasing power of their savings during times of inflation. In the early months of 1980, when gold was at the previous bull market high, there was a long line of people outside a local coin shop waiting to buy gold, or so I was told. Trust me, if and when gold is at $1500, you will not have trouble finding a buyer. I’m not saying $1500 is the price to sell, just to say you can sell at that price easily if it gets there.

With regard to who sets the price of gold, the market does. There has been a market for gold for thousands of years. Again when people start to lose faith in paper, gold will become more valuable.

[mrwrong]

Food is perishable thus cannot be stored for a long period of time. If people believe that there is going to be serious inflation in the near future, then they have to get rid of the surplus cash after buying all the necessities, food, shelter, and etc. Historically people have chosen precious metals for preserving the purchasing power of their savings during times of inflation. In the early months of 1980, when gold was at the previous bull market high, there was a long line of people outside a local coin shop waiting to buy gold, or so I was told. Trust me, if and when gold is at $1500, you will not have trouble finding a buyer. I’m not saying $1500 is the price to sell, just to say you can sell at that price easily if it gets there.

With regard to who sets the price of gold, the market does. There has been a market for gold for thousands of years. Again when people start to lose faith in paper, gold will become more valuable.

[mrwrong]

You should be able to sell gold fairly easily to a local coin dealer. Keep in mind there is usually a large spread. For example, if you just paid $950 for an oz of gold and sell it back immediately, you will probably only get about $900 back.

[mrwrong]

You should be able to sell gold fairly easily to a local coin dealer. Keep in mind there is usually a large spread. For example, if you just paid $950 for an oz of gold and sell it back immediately, you will probably only get about $900 back.

[mrwrong]

You should be able to sell gold fairly easily to a local coin dealer. Keep in mind there is usually a large spread. For example, if you just paid $950 for an oz of gold and sell it back immediately, you will probably only get about $900 back.

[mrwrong]

You should be able to sell gold fairly easily to a local coin dealer. Keep in mind there is usually a large spread. For example, if you just paid $950 for an oz of gold and sell it back immediately, you will probably only get about $900 back.

[mrwrong]

You should be able to sell gold fairly easily to a local coin dealer. Keep in mind there is usually a large spread. For example, if you just paid $950 for an oz of gold and sell it back immediately, you will probably only get about $900 back.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[mrwrong]

[quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
[/quote]

If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

Of course if you believe Armageddon, then all bets are off.

[Author]

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