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post #141 of 180 (permalink) Old 11-20-2012, 06:34 PM
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http://sphotos-b.xx.fbcdn.net/hphoto...74182358_n.jpg
http://en.wikipedia.org/wiki/Critici...ederal_Reserve

And why would you want your money based on a commodity that another country can manipulate? Heck, even the gold standard is still "fiat money", as gold is only valuable because most people agree that it is.

There is a fine line between "hobby", and "mental illness"
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post #142 of 180 (permalink) Old 11-20-2012, 09:29 PM
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Originally Posted by Owenbrau View Post
http://sphotos-b.xx.fbcdn.net/hphoto...74182358_n.jpg
http://en.wikipedia.org/wiki/Critici...ederal_Reserve

And why would you want your money based on a commodity that another country can manipulate? Heck, even the gold standard is still "fiat money", as gold is only valuable because most people agree that it is.
So were beenie babies for a while, but . . . . . . oh well. Gold however has always been a good solid conservative investment because it is not only relatively rare, it also has intrinsic value.

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post #144 of 180 (permalink) Old 11-20-2012, 10:06 PM
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Yes it is...I remember all those items as a kid especially wonder bread, snowballs and of course twinkies.


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post #145 of 180 (permalink) Old 11-20-2012, 10:24 PM
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Gold's only intrinsic value is it's relative scarcity. It is very easy to create a glut on the market. As an example, imagine what would have happened had we been on the silver standard when the Comstock Lode was discovered. And that leaves aside hoarding and manipulation. Look at how DeBeers manipulates the diamond market. Any commodity based money has the same problems.

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post #146 of 180 (permalink) Old 11-20-2012, 10:32 PM
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Gold's only intrinsic value is it's relative scarcity. It is very easy to create a glut on the market. As an example, imagine what would have happened had we been on the silver standard when the Comstock Lode was discovered. And that leaves aside hoarding and manipulation. Look at how DeBeers manipulates the diamond market. Any commodity based money has the same problems.
Well it also has a great decorative value what people appreciate. And if you know how to create a glut of gold, please let me know

EDIT: I agree that a large part of gold's value is it's scarcity but that isn't at all the same as intrinsic value.

Yes, I am as big a pain in the ass in person as I seem to be on line.

Last edited by PopPop; 11-20-2012 at 10:53 PM.
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post #147 of 180 (permalink) Old 11-21-2012, 09:30 AM
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A glut could be created if new deposits were found, or a country slowly hoarded existing production then dumped it on the market.


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There is a fine line between "hobby", and "mental illness"
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post #148 of 180 (permalink) Old 11-21-2012, 09:53 AM
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A glut could be created if new deposits were found, or a country slowly hoarded existing production then dumped it on the market.


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We talkin' Twinkies, or gold here? :-)
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post #149 of 180 (permalink) Old 11-21-2012, 01:18 PM
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Here's an idea...

How about the baker's union and the teamsters put together a bid to buy the company?

Apparently, they feel that they know how to run the company, so give it a go. Sitting around bit***** and moaning about the "vultures" isn't going to bring these jobs back, so "man up" and "buck up" and show those evil basta*** how to run a company.

Give me 900 cc's of power....STAT
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post #150 of 180 (permalink) Old 11-21-2012, 01:21 PM
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Oh wait, you want uis to put our own money into it.

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