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Foreign Invaders crisis cost $150B in 2023, forcing some areas to cut police and fire services: report Israel kills head of Hezbollah Intelligence. Status: Not Logged In; Sign In International News See other International News Articles Title: IS GOLD MONEY? Source: [None] URL Source: [None] Published: Jul 14, 2011 Author: Ron Paul Post Date: 2011-07-14 13:07:59 by socalv8 Keywords: Paul, Ben, Good Question Views: 75356 Comments: 131 Big Ben's hesitation was telling. What say you? Post Comment   Private Reply   Ignore Thread   Top • Page Up • Full Thread • Page Down • Bottom/Latest Comments (1-31) not displayed.       .       .       . #32. To: socalv8 (#25) We? As in the human race. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. lucysmom  posted on  2011-07-15   10:26:45 ET  Reply   Trace   Private Reply   #33. To: Godwinson (#30) ...the mental mind fuck you right wingers operate under because it is linked to this mythology of a lost golden age back when America "worked", when blacks were Jim Crow'ed and women were subservient to men and other such delusions. That's pretty darned accurate. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. lucysmom  posted on  2011-07-15   10:33:07 ET  Reply   Trace   Private Reply   #34. To: socalv8 (#28) Therefore, to avoid this they'll need to see the price drop by half in the near future? Yup. But with Helicopter Ben creating digital fiat money like crazy, there's absolutely NO chance of that happening. I read somewhere, that if you divide all the fiat money around the world by the amount of gold in the world, it works out to some crazy number like $12000/ounce. With there being 7X the amount of gold ETFs as there is physical gold in all existence, it would seem that gold will increase potentially 7X it's current price... which works out to $1500x7=$10,500/ounce. If it only gets halfway there, it's still $5000/ounce. My silver investments should do better. Silver links to gold at ~30:1-40:1. If I call it 35:1, with current gold at ~$1500, gold should be at $42. When gold goes ballistic (maybe $5k/ounce), that means silver would be ~$142. I can live with that. :) It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE. Capitalist Eric  posted on  2011-07-15   10:56:02 ET  Reply   Trace   Private Reply   #35. To: Capitalist Eric (#34) IS GOLD MONEY? No, gold is not money but a commodity. Economics 101 "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-15   11:21:09 ET  Reply   Trace   Private Reply   #36. To: Godwinson (#35) (Edited) No, gold is not money but a commodity. Economics 101 Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce. In the 20th century, arrogant people with their all encompassing view of the state destroyed what thousands of years of societal evolution created. Economic History 101. Any fourth grade history student knows socialism has failed in every country, at every time in history -- Vladimir Putin jwpegler  posted on  2011-07-15   11:42:00 ET  Reply   Trace   Private Reply   #37. To: jwpegler (#36) Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce. That was more the result of colonialism. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. lucysmom  posted on  2011-07-15   11:44:57 ET  Reply   Trace   Private Reply   #38. To: Godwinson (#31) What's wrong with you? Free will and ambition, the lack of which creats socialists, hippies and Democrats. socalv8  posted on  2011-07-15   11:50:42 ET  Reply   Trace   Private Reply   #39. To: lucysmom (#32) As in the human race. Fair enough, but I didn't ask you. I asked someone far less credible than you. I asked you what you meant by "tulips". socalv8  posted on  2011-07-15   11:52:19 ET  Reply   Trace   Private Reply   #40. To: Capitalist Eric (#34) Any chance of gold and silver going in different directions? socalv8  posted on  2011-07-15   11:55:01 ET  Reply   Trace   Private Reply   #41. To: jwpegler (#36) Gold evolved over thousands of years of societal evolution on almost every part of the planet as the preferred form of money. It did so because it was durable, easily divisible, and scarce. So was silver and iron bars and wampum and on some islands in the Pacific islands - large carved boulders. So what? "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-15   11:56:46 ET  Reply   Trace   Private Reply   #42. To: socalv8 (#38) Free will and ambition, I support your ambition to get ripped off by gold brokers. Go for it. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-15   11:57:33 ET  Reply   Trace   Private Reply   #43. To: socalv8 (#39) I asked you what you meant by "tulips". Tulip mania or tulipomania (Dutch names include: tulpenmanie, tulpomanie, tulpenwoede, tulpengekte and bollengekte) was a period in the Dutch Golden Age during which contract prices for bulbs of the recently introduced tulip reached extraordinarily high levels and then suddenly collapsed.[2] At the peak of tulip mania, in February 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman. It is generally considered the first recorded speculative bubble... Wikipedia Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. lucysmom  posted on  2011-07-15   12:01:31 ET  Reply   Trace   Private Reply   #44. To: Godwinson (#42) I support your ambition to get ripped off by gold brokers. Go for it. Not your choice and I don't invest in gold, Stewie. socalv8  posted on  2011-07-15   12:08:57 ET  Reply   Trace   Private Reply   #45. To: lucysmom (#43) Interesting and worth looking into, thanks. socalv8  posted on  2011-07-15   12:09:47 ET  Reply   Trace   Private Reply   #46. To: socalv8 (#40) Any chance of gold and silver going in different directions? There is a chance... but I believe it's quite small. They usually trend in the same direction- silver being the "poor man's gold," as it were. While I could buy *some* gold, I'm certainly not rich... LOL. Here's why I buy silver: the price has been artificially surpressed by major banks- chief among them being Chase. This has been done by shorting silver futures, in large (and public) bets. Thus, they give the signal to the market that the price will drop, and the market (being the sheeple they are) take the bait; the price drops signficantly, Chase sells and makes a fat profit. The price starts to trend back up, and the banks repeat... But this time (the last few months), a lot of the banks were playing the same game, and the price continued to trend up... So the banks got the COMEX to increase the reserve requirements for silver ETFs, forcing the price down so they could cash out... Those banks that haven't- as the price will continue to trend up over time- will be in seriously bad straights, as their exposure will become problematic. An ugly aspect that few ETF managers will talk about, is that the lack of silver and gold is at a critical point. So they're trying to buy back the ETFs with paper money, since they're exposed on physical commodities. As well, they're buying gold wherever they can find it... Just look on Craigslist, or take a walk through your local shopping mall... You'll see signs *everywhere,* saying "we buy gold and silver..." I have no doubt, if/when this scandal hits the main-stream news, the prices will go waaaaaaaaaay up. IMHO. It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE. Capitalist Eric  posted on  2011-07-15   12:43:41 ET  Reply   Trace   Private Reply   #47. To: Godwinson (#35) No, gold is not money but a commodity. Economics 101 Clearly, you failed your econ class. It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE. Capitalist Eric  posted on  2011-07-15   12:44:58 ET  Reply   Trace   Private Reply   #48. To: socalv8 (#40) Any chance of gold and silver going in different directions? Think 16 to one, the tried and true ratio. Gold is way out of whack right now, a bubble that is ready to burst so the sharks can reap their profits just like they did in late 2007. mininggold  posted on  2011-07-15   13:01:34 ET  Reply   Trace   Private Reply   #49. To: Capitalist Eric (#47) (Edited) No, gold is not money but a commodity. Economics 101 Clearly, you failed your econ class. Yet it's actually sold as a commodity. Go figure. And if I buy a 20 dollar gold piece for 1500+, I can only legally tender it for 20 dollars. mininggold  posted on  2011-07-15   13:02:30 ET  Reply   Trace   Private Reply   #50. To: Godwinson (#41) So was silver and iron bars and wampum and on some islands in the Pacific islands - large carved boulders. All but Silver fail one or more of the tests of what makes really good money: It's A.) Durable, B.) Easily Divisible, C.) Relatively Scarce, D.) Portable. This is why wampum, iron bars, and large carved boulders did not evolve as money in most parts of the world. Gold did. So did Silver. Any fourth grade history student knows socialism has failed in every country, at every time in history -- Vladimir Putin jwpegler  posted on  2011-07-15   14:57:08 ET  Reply   Trace   Private Reply   #51. To: Godwinson (#30) The gold standard failed. LOL!! That is the stupidest thing you have said so far. Gold has been money for 1000s of years. Appears you have been sucked into the delusional fiat money scam that has transformed a lot of stupid fools into poor stupid fools. No one with a modicum of intellect and their wits about them could deny the historical facts of the matter. eskimo  posted on  2011-07-15   17:19:58 ET  Reply   Trace   Private Reply   #52. To: mininggold, socalv8 (#48) socalv8: Any chance of gold and silver going in different directions? ming: Think 16 to one, the tried and true ratio. Gold is way out of whack right now, a bubble that is ready to burst so the sharks can reap their profits just like they did in late 2007. LMAO. You're an idiot. Your statement as to the gold-silver ratio, as usual, is based on bad information...... And HERE'S WHY... As to your statement that gold is "a bubble that is ready to burst," then I suggest you put your money where your FAT mouth is at, and short some gold ETFs. Your statements- based on nothing but your delusions, fed by MSM propagandists, make me laugh. It used to be the leftists that had bumper-stickers that said things like "Question Authority.' Today they follow Orwells' mottos: War is peace. Freedom is slavery. Ignorance is strength. They blindly LOVE Big Brother. They believe competition, pride & profiting from ones labor, are evil things to be banished. Stephen King once observed, "The beauty of religion mania is that it has the power to explain everything... [and] …logic can be happily tossed out the window. This describes socialists. They will ignore logic and "common sense." They will ignore REALITY. Because THEY are religious zealots... Their God... is the STATE. Capitalist Eric  posted on  2011-07-15   18:40:28 ET  Reply   Trace   Private Reply   #53. To: eskimo (#51) Gold has been money for 1000s of years. So what? They stopped using it just like they stopped using human sacrifice to make it rain. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-16   0:45:07 ET  Reply   Trace   Private Reply   #54. To: Godwinson (#53) LOL! Gold and silver are still money to rational people. You go ahead and stack your paper; you can always use it to wipe. eskimo  posted on  2011-07-16   3:34:56 ET  Reply   Trace   Private Reply   #55. To: eskimo (#54) You go ahead and stack your paper; you can always use it to wipe. Money is not made out of actual paper but it is clear you h ave no idea how money works. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-16   9:26:25 ET  Reply   Trace   Private Reply   #56. To: Godwinson (#55) Clearly, I know much better than you that money must be a good "store of value". You go ahead and stack your paper; you can always use it to wipe. eskimo  posted on  2011-07-16   11:19:04 ET  Reply   Trace   Private Reply   #57. To: Capitalist Eric (#52) LMAO. You're an idiot. Your statement as to the gold-silver ratio, as usual, is based on bad information...... And HERE'S WHY... As to your statement that gold is "a bubble that is ready to burst," then I suggest you put your money where your FAT mouth is at, and short some gold ETFs. Your statements- based on nothing but your delusions, fed by MSM propagandists, make me laugh. I don't play markets where others make undecipherable rules not in my favor. But the big question here is: If I'm wrong, why would YOU care? mininggold  posted on  2011-07-16   11:40:49 ET  Reply   Trace   Private Reply   #58. To: eskimo (#56) Clearly, I know much better than you that money must be a good "store of value". You go ahead and stack your paper; you can always use it to wipe. Lugging around all that gold must be tiring. mininggold  posted on  2011-07-16   11:41:32 ET  Reply   Trace   Private Reply   #59. To: mininggold (#58) Lugging around all that gold must be tiring. It's what makes him cranky. Von Mises associates any Government involvement in markets as "Socialism" , to mislead people into thinking Government is the enemy , when infact empire is the enemy and empire is Privatized. lucysmom  posted on  2011-07-16   11:50:03 ET  Reply   Trace   Private Reply   #60. To: mininggold (#58) Lugging around all that gold must be tiring. It's probably all in his teeth. Skip Intro  posted on  2011-07-16   11:51:29 ET  Reply   Trace   Private Reply   #61. To: Skip Intro (#60) (Edited) It's probably all in his teeth. Another effect of mercury poisoning, besides the goofy reasoning. He needs to check out his local perma melt. Alaska has some of the most toxic water in the world. mininggold  posted on  2011-07-16   11:55:42 ET  Reply   Trace   Private Reply   #62. To: mininggold (#58) Lugging around all that gold must be tiring. LOL! 1600 paper dollars is heavier than an ounce of gold. There you go, something just as stupid as you wrote. eskimo  posted on  2011-07-16   12:11:06 ET  Reply   Trace   Private Reply   #63. To: eskimo (#62) LOL! 1600 paper dollars is heavier than an ounce of gold. There you go, something just as stupid as you wrote. They don't use 100 dollar bills in your state? mininggold  posted on  2011-07-16   12:15:32 ET  Reply   Trace   Private Reply   #64. To: mininggold, Skip Intro (#61) Alaska has some of the most toxic water in the world. LOL!! When you have no logical argument you invent stupid, childish innuendo to spit at others. I quess that is what makes you slugs so entertaining, like a small child telling absurd knock-knock jokes. eskimo  posted on  2011-07-16   12:18:54 ET  Reply   Trace   Private Reply   #65. To: mininggold (#63) They don't use 100 dollar bills in your state? LOL!! Hell, we paper the the walls whith them. eskimo  posted on  2011-07-16   12:21:44 ET  Reply   Trace   Private Reply   #66. To: eskimo (#64) LOL!! When you have no logical argument you invent stupid, childish innuendo to spit at others. I quess that is what makes you slugs so entertaining, like a small child telling absurd knock-knock jokes. By all means drink up. mininggold  posted on  2011-07-16   12:22:06 ET  Reply   Trace   Private Reply   #67. To: eskimo (#65) LOL!! Hell, we paper the the walls whith them. Does the State of Alaska pay you your yearly stipend in gold bullion or a check from the state's coffers? mininggold  posted on  2011-07-16   12:25:02 ET  Reply   Trace   Private Reply   #68. To: mininggold (#67) LOL!! I get my gold from the same creek I get my water. You really are not too bright, so just ask and I will try to help you fix that. eskimo  posted on  2011-07-16   12:35:09 ET  Reply   Trace   Private Reply   #69. To: eskimo (#68) LOL!! I get my gold from the same creek I get my water. You really are not too bright, so just ask and I will try to help you fix that. And I bet you don't realize that mercury is soluble in water, but hell you probably burn it off directly and take deep breaths as you are doing it. Another side effect is silly laughter and delusional thinking as expressed by your indicating that your statement of papering walls with 100 dollars bills actually makes sense to you. mininggold  posted on  2011-07-16   12:42:09 ET  Reply   Trace   Private Reply   #70. To: mininggold, eskimo, lucysmom (#69) I wonder how grocery stores will give change on gold? In the olden days people used to file down the coins and cheat people. If paper is backed by gold is the model - for this size economy a dollar bill would be worth maybe an atom of gold..... These people sound like Khmer Rouge - They want to return to some "Year Zero" formula. "Keep Your Goddamn Government Hands Off My Medicare!" - Various Tea Party signs. Godwinson  posted on  2011-07-16   12:57:08 ET  Reply   Trace   Private Reply   #71. To: mininggold (#69) LOL!! You really only know enough to be childishly paranoid. The water soluable percentage of naturally occuring metals is not what you imagine or no water would be safe to drink. The rest of your childish innuendo must just be a manifestation of your mental malady. eskimo  posted on  2011-07-16   13:04:12 ET  Reply   Trace   Private Reply   #72. To: Godwinson (#70) (Edited) I wonder how grocery stores will give change on gold? You really aren't too bright are you? If the government got out of the way, what would certainly evolve is a system of digital currencies (probably attached to you cell phone) that was backed by gold or silver or some other scare commodity. Gold is divisible down to one grain. The American dollar was originally based on the Spanish dollar and was originally fixed at 371.25 grains of silver. I'll have them niggers voting Democratic for two hundred years -- Lyndon Johnson jwpegler  posted on  2011-07-16   13:06:17 ET  Reply   Trace   Private Reply         .       .       . Comments (73 - 131) not displayed. 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