Requires work to produce. Please go mine for free or 'almost free'. Gold is worth at least as much as the cost to produce it. How much does it take to produce paper? I think you can buy a whole sheet of paper for 10 cents or less Please Register or Log in to view the hidden image!
If all the gold in the world that has been mined since 2000BCE was placed in Olympic swimming pools the total volume would would be a little more than 3. Of that >50% has been minded in the last 40 years. So, if we went to 1919, again, it'd only be about 1.5 swimming pools. Which is why gold has intrinsic value and stability. If it drops <$800 a troy ounce in 2012, I'd think about buying some.
The banks and top 1% wealthy are the capitalist poster boys. When they fail to sustain that image, even for a brief moment...they look bad to their base. Paul says permanently bad...Mitt says business as usual...Obama says sweep and repair.
You mean the moments like when investment banks sold to their clients shitty papers while hedging against it themselves with nearly free money from the feds ? I think there is more than just the "image"... Sweep and repair ? LOL, sweeping under the rug yes, but, repair ? The Crisis of Credit Visualized http://www.youtube.com/watch?v=bx_LWm6_6tA Edward Griffin about the FED http://www.youtube.com/watch?v=o548n2ZP_Ls
What else can one do when inheriting a total mess from the party of the other two candidates? Total "experimental" revamping (Ron), or the other extreme of, continued failed and kooky practices that brought on this mess to begin with (Mitt), can leave us vulnerable to a possible condition of further harm. The course that has been laid for us has been, and will continue to be, a hard invested road. You've heard the phrase, "in for a penny, in for a pound". We've got too much at stake right now to gamble with the "tinkering-and-gutting" disturbers of ongoing recovery gains.
Because gold has INTRINSIC value, so it's not the same as printing paper money. Sorry if you don't understand this simple concept.
Of course they played a role. So did millions of peoples and investors and insurance companies and other financial institutions. Do you understand the difference between the Insurance company AIG, Investment Banks like Bear Stearns, Mortgage banks like Countrywide and Mortgage Brokers (60,000 of which were operating in the US at that time) and Commercial/Retail banks like BofA & Wells ? They aren't the same. The investment banks were taking the Sub Prime Mortgages taken out by millions of people and generated by the Mortgage banks and mortgage brokers and packaging them into Mortgage Backed Securities and selling them to tens of thousands of investors (institutional and people). To a large extent, the Commercial and Retail banks retained a lot of the mortgages they wrote in their portfolios and so weren't that big in the Sub Prime Mortgage, which is why BofA, Wells, US Bank etc are still here and still healthy while Bear Stearns is gone, Countrywide is gone,World Savings is gone and the Treasury still owns much of AIG (and will until they are paid back)
Besides the cost of mining it, it doesn't rust and has great thermal and electrical properties and so it is also very valuable in industry. http://www.gold.org/technology/uses/
Gold is heavy, cumbersome to transport. Paper currency and cards are easy to carry, easy to print, yet vulnerable to manipulation with fraudulent values being applied. But not impossible to remedy, with values secured, transparently monitored for stability, with values as constant as the shape of the paper bill continues to be.
One ounce of gold is now trading at 1653,40 $, that makes about 53 $ gram, how much cash do you carry around ? I bet the most counterfeited bill is 100 $ note. Constant declining value I would say about fiat paper notes. Beside, it could be paper notes with gold standard too, combined with silver I prefer.
And because of the debt based ever expanding money supply we get inflating value of paper currency, and because of that we can see gold prices rising steadily, what, eleven years in a roll now, from about 200 $ to present 1650 $ of ounce. And no matter what, markets have already made the gold to be money. Its matter of fixing the price in gold standard, but like I said, I prefer it combined with silver, that would make it more "flexible". All and all, I have physical silver and gold, and will be buying more and more silver while this madness is going on, because I know that nobody is bailing me out in this rigged game ! What About Money Causes Economic Crises with Peter Schiff - Ron Paul Money Lecture Series, Pt 3 of 3 http://www.youtube.com/watch?v=fHDW2rrsiBw
And like I said do I care about 'printing paper money'? (with respect to what I said there)... Did you read what I even quoted you. I don't recall saying anything about 'paper money' :shrug:
Yes, the markets have made it to be money again ~ store of value. Why ? Because the declining value of paper currencies. Silver is the best in the qualities mentioned plus its one the best reflector of light among many other qualities, thats why there hasnt been the need to use gold much, and because of that, silver is getting scarcer too day by day. The main thing is that gold remains the same regarding what stores the value best, silver tarnishes somewhat
It started with this link: http://thehill.com/blogs/floor-acti...ition-in-bid-to-end-federal-monopoly-on-money So the initial discussion was about money, not just gold and silver coin.
It's always been used as money and a store of value. There are an estimated 9 Trillion dollars worth of it in various forms in circulation.
No kidding... But the big players and banks have stepped in big time in recent years... Dont be so dense !
No. There is no regulation that prevents this. But there are reasons he might not offer it. The primary one being that if you buy/sell gold then you have to deal with the IRS and depending on the form of gold you will either pay capital gains (which will depend on the length of time you owned the gold) or more likely the IRS will consider your gold a "collectible" and will tax at a 28% rate. My guess is he just doesn't want the to deal with the cost of tracking all that and filing the necessary forms with the IRS.
