# REVERSE re-distributioning of wealth with GOLD!

Discussion in 'Science & Society' started by charles brough, Aug 18, 2011.

1. ### charles broughRegistered Senior Member

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For about the last three years, wherever you drove, shops, stores, businesses of all kinds blatently advertised "We Buy Gold!." All over the country people who became unemployed and those behind in their morgage sold what gold they had to help them survive.

Where did it all go? It was refined and turned into investment form for the rich!
Those poor people who sold now see how much more it is worth (in dollars) than it was when they gave up their gold rings, bracelets and even teeth fillings. The rich now look back and see how they, the ones who bought that gold from the refiners who got it from the poor, how much profit they have from the misfortune of the poor, the poor, that is who were once the middle class.

Will the people ever get back their gold? Or will it continue to be used in yacht bathroom plumbing and stored in wealth-owners safes?

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3. ### nietzschefanThread KillerValued Senior Member

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Ummm tough shit?

I've got gold, but I'm on board if people want to stop bitching about the "game" and start "changing" the game. Nope they just go along and get fucked year after year and I no longer feel sorry for them, or myself.

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5. ### PinwheelBannedBanned

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Sure, but they will pay a heck of a lot more for it than they sold it for.

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7. ### jmpetValued Senior Member

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The gold I sold in the past couple of years will remain gold proofs in someone's coin collection. Bought 'em at $335 an ounce, sold 'em at$1600.

But gold is a truly rare metal and the gold all those shysters buy at 10% under spot all end up being resold to the market... there's not enough room to hard it unless you are uber-rich in which case the price of gold is irrelevant.

Apart from the Bilderburgers, I don't think anyone has a decent private gold hoard- heck- we short print our own us gold coins cause even WE can't get enough of it!

8. ### StryderKeeper of "good" ideas.Valued Senior Member

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Gold prices are a false economy, the "Buy Gold" groups were just using there advertisement methods to increase prices.

It's not like the material is in actually short supply, there are still mines that churn gold out everyday, however if the prices are low, those locations have to be cheaper with their workers.

For instance one guy employed from abroad might get $200 per day or more, while locals might get paid only$20 a week. The discrepancy can cause increases in costs with locals sabotaging equipment and potentially selling information to criminal groups that rob the mines.

Increasing golds worth ideally would mean that everyone could be paid fairly, however we all know that upper and middle management tends to suck any profit margin up so the guys down on the floor don't get much more than a pennies gain.

Gold is just like Blood diamonds in that sense, however a lot less traceable.

9. ### fedr8081100101Valued Senior Member

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You got paid for what you sold, tough shit.

10. ### hardaleeRegistered Senior Member

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An ounce of gold has alway been a good weeks pay.

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12. ### PinwheelBannedBanned

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Except you got that totally ass-backwards. The 'Cash for Gold' sites, adverts and stalls are asking you to "SELL YOUR GOLD". Not buy. Big difference. Note most of them are now asking you to sell your silver too. This is because they know its price will be going up in the near/medium term. When all these ads start telling you to buy, THATs when to sell your stack.

Again another misunderstanding. Golds "worth" is not changing, the FIAT currency with which it is measured is decreasing in value.

13. ### StryderKeeper of "good" ideas.Valued Senior Member

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Erm, not backwards at all, think about it. If everyone on the planet had a chunk of gold, then it's worth is less. If however it's all bought up by various companies that accumulate it, then they end up with a large volume of a material that becomes rarer, which in turn raises the price.

It's simple Logistics within price manipulation.

Quite frankly I'm not bothered either way, Gold to me is useless. It doesn't do anything that there isn't another metal that can't do better, I wouldn't even bother wearing it as Jewellery. To me it therefore has no use, or for that matter real worth.

14. ### PinwheelBannedBanned

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That doesnt matter. Gold is useless to me too, I don't have a need for it as jewelry etc.

However the fact that a significant number of people around the world DO value it, and have done so for thousands of years, makes it worth me having some right now, knowing that when I come to pass it off, someone will want it. Even if that mindset were to change, it aint gonna happen overnight.

Fact is, relative to FIAT, gold is a better store of wealth. Gold is an alternative to having my savings in £££.

15. ### StryderKeeper of "good" ideas.Valued Senior Member

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If you were in a desert, water would be more important. If it was a famine stricken part of the world, Food is more important. By all means don't keep your money in currency (After all it's only a marker for a fairtrade system) but if you are going to put it into something, put it into something useful if you have a high enough amount. (Invest in something worthwhile, if you can't work out what or don't have a high enough denomination, look to investing in a Venture Capitalist firm)

16. ### PinwheelBannedBanned

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The whole "can't eat gold" argument is tired and irelevant. If I were in a desert a pile of £20 notes or stock certificates would be just as useless.

Im not "investing" in gold. I'm converting paper money into real money. Its pointless to talk about putting it into something "useful". A store of wealth is useful enough. If I want to put it into a company, I can sell some for FIAT and buy stock.

Edit:
Talkling of famine stricken parts of the world, google "Zimbabwe, panning, gold".

17. ### jmpetValued Senior Member

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You can still pan for gold in California plus there's a whole bunch of abandoned mines throughout Arizona. Nevada has gold, but the Fed owns most of that state.

18. ### nietzschefanThread KillerValued Senior Member

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Gold actually has quite a few uses and more new ones nearly every day.

China is buying up gold like no tomorrow(maybe there is no tomorrow?). It will be the defacto currency.

Money (paper dollhairs and esp 10101011 in a bank computer) is ABSOLUTELY WORTHLESS.

Gold is at least somewhat rare and pretty.

19. ### KilljoyKlownWhateverValued Senior Member

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Gold is no different than any other commodity, in that it's value is determined by what others are willing to pay for it. The question should be what makes people want to buy gold?

20. ### charles broughRegistered Senior Member

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It seems to me we should all think ahead and buy small amount of silver or gold coins to save for the long term, one or two of them every few months as the price rises. Then, if it collapses, you haven't bought it all at the top. The day will come in the lives of those who are young now when it could take \$1000to buy a sack of potatoes. But a single silver eagle coin will always buy about four sacks. I have experiened such inflation and currency devaluation twice before when in earler China and in Indonesia. You never expect it, but it happens.

21. ### wellwisherBannedBanned

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Gold has universal appeal while paper currencies are narrow cultural. It is easier to increase the paper money supply than it is to increase the gold supply. The time delay makes gold a more universal and a stable form of currency.

However, since gold is more limited, the potential problem will be all the gold-wealth trickling to the top. As it gets more expensive to own the poor can't own even the smallest amount. Paper money is more plentiful and easier to increase helping to keep more money at the bottom.

22. ### charles broughRegistered Senior Member

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Yes indeed! But from years of experience, I know there are periods of eratic speculation in the precious metals. That phase of the rise has begun during the last week. Silver, Gold, and Platinum prices have begun shooting up. As a result, it is time for the investor to sit back with the metals he has and buy more later when the inevitable price drop occurs. The long term trend is up but we are entering a bubble now.

23. ### nietzschefanThread KillerValued Senior Member

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Its not a bubble my friend, everything else is a bubble...about to burst.