Investing

[DeepFried]

You are wrong and were a total asshole for no reason other than your wrong assumption. Losing all respect for someone who is totally right.

I am not trying to be a jerk, but you were just totally out of line and wrong.

sheesh, that's a little harsh on me don't you think, did you read the LOL after my statement... that means don't take it seriously cause I'm pushing your buttons. Why are traders always so defensive, I make it a point not to be and I never "blasted" you for anything.

Sorry if my link I posted made you feel that "Once again do you really think I am so fucking dumb that I don't understand the trillions of dollars of debt that we carry?"

You realize this isn't elitetraders.com and that other forum members might like to see where I am getting my numbers to back up my post.

Anyways I thought this thread could be cool to exchange trading ideas with like minded individuals, but you have turned it ugly with name calling and attacks so this will be my last post in this thread.

Here is the futures magazine article that I referenced, hopefully you can read it without feeling like it is another attack on your character.

http://www.futuresmag.com/Issues/2010/May-2010/Pages/McGhee-on-the-gold-currency.aspx?page=1

 

[bcleez]

You attacked me. Told me I basically didn't know shit, and made a 100% wrong statement.

This isn't an elite trading site, so why are you giving false information? No currency is tied to gold.

Once again you try to press me again for something that you started and refuse to actually address. Did you read my statement where I said that I prefer to have an open discussion and not attack people?'

Your post was condescending, and you need to realize that some people out there might possess much more knowledge than you on some topics. You were correct that the concept of gold and currency is quite basic, yet you are the one who does not comprehend how currency is valued.

I just asked you to admit that you were 100% wrong about gold being tied to currency because you are.

That is what I want to address. Your incorrect statement.

 

[Raf007]

1. Deepfried. Do your research on The Gold Standard and realize many currencies are NOT tied to gold anymore. (Aug 15th 1971 -thanks "nixon shock") WE HAVE A FIAT SYSTEM NOW. So you are dead wrong. Go back to Investing 100 because you just made yourself look like a total fool Mr.Iamconfusedbyreserves.

2. If you read correctly, we are talking about the individual investor, Do you honestly believe that you will be able to use gold nuggets/coins/etc in apocolyptic times? I mean you will go buy groceries with gold? NO. If it ever comes to that people will steal everything by force. That makes a gun a better investment.

3. Raf, It is more complex than that. China needs to buy US debt for their exports and their own economy. Their economy crashes with out the US economy. It is a brutal 2 person dance that is dangerous.

4. I think there is a lot of room for added taxes, VAT, etc... USA has pretty low taxes compared to Europe, so I feel that there is still alot of $ that can be squeezed out of Americans.

5. Look at all of the innovations that American companies have created esp in the tech center... there is a worldwide need for it and Americans have it. (China lacks ....

hey , I am sorry to come up and see this climate. Peace guys, I m sure both of u got angry because of the internet effect.

3, 5, 6 You are dead right, it is a deadly dance , that s why imHo ths US are not really in a better situation. As you stated the USA have some power over the economy but everything is so
intertwined that no one can really be safe. especially a super power that every country has vested interests in;
so yes you are needed, but as any developped region. imHo i don t think that the Usa have a monopol on innovation anymore. One just has to look at who merges with who, and what's happening to the US car and IT industries.

4 So true. hope for u guys that it will happen someday so u can have a good social security system and the services we have w. public services.

Now, back to gold , even if it's not a fiat currency, we can only notice that our system still use it and imHo we still depend on it, and in case it becomes anarchy, gold will be one of the only valuable currency (w. a gun of course....).

That say....Much Love to you guys !

 

[Flyer]

speaking of gold, yes it was removed from being tied to the dollar, yes we do have a flat currency or not, truth is if gold did not have it's very specific place to up hold what the fuck ever currency then it would NOT fluctiate as it does.

 

[bcleez]

Flyer. Gold is a HEDGE against currency. That is why it fluctuates when people don' t want to trade Forex.

I agree it has its place and the value will probably continue to go up for years to come. There is a finite amount of gold on the planet, and I am pretty sure that there is less gold mined each year, another reason why the price fluctuates, as it is harder and harder to get more gold.

It also is the most malleable and ductile metal.

Raf- I agree the smartest thing countries can do is cut all the tentacles the USA has wrapped around them, as they are trying to do now. Happened to the British and is happening to the USA now.

 

[Flyer]

'and I am pretty sure that there is less gold mined each year', correct ,and if I am not mistaken , there is way more paper owning gold then actual in hand. the language is very important and I appreciate the tune up on term vs. what I may mean, hedge is the word, not backed. again thanks guys and gals,

 

[Raf007]

yep there is less gold mined each year. Nonetheless, it still is the only monetary variable that can survive a monetary crash.

@Bcleez: yes, the rise and fall of any empire i guess

 

[bcleez]

Raf, I think if it came to it people would prefer to trade goods/services.


Still doing research Deepfried????

 

[Flyer]

just one more for me, gold has not always been tied to the value, for the longest and still today it is revered for it's color and touch and so on, there is a quote I can not find so for now consider this bullshit, 'man has killed for gold simple to hold and own, before it had social or econimic value'. part of the reason it is still held as such. also applys to fine gems. to some.

 

[bcleez]

Kind of like the golden rule? He who has the gold rules.

Men will kill for anything and sometimes nothing.