Bring Bring!

/window seat plz

Apparently the Chinese dragons have been corrupted by their treasure-hoarding European counterparts.

I'm guessing subby bought at 1500 an oz instead of listening to Glenn back in 2001 when it was 280 an oz.

There is speculation that china is heading for a crash from their own housing bubble, learning something the US, the fact that we were trillions in debt when that happened maybe China is buying gold to prop up their currency if needed, similar to the way the Iranians do it with their oil.

Why would the Chinese take advice from Glenn Beck? They're trying to hide the murders of multiple girls (and boys) from 1989, not just the murder of one girl in 1990.

Gold, like everything else that's even remotely rare, is used as an aphrodesiac in traditional Chineese medicine. And lord knows the Chinese need all the help they can get in that area...

In otherwords - SELL!!!!

How dare they diversify their holdings! They should continue to buy our debt instead!

Commie scum.

This is one of the many reasons a gold backed currency is at TERRIBLE idea. First, it creates a money supply that is difficult to expand when it needs to expand. Second, much of the gold we've pulled out of the Earth belongs to banks and other countries. That puts the value of our currency at the mercy of who ever has it. The IMF could crush a gold backed dollar on a whim. Gold has little Intrinsic value. Most of its value is Extrinsic. That's a fancy way of saying, its worth a lot because people THINK it's worth a lot. Silver would be a better choice because banks have focused on gold, so there's enough to go around. And the common man can afford greater quantities of it.

The people who are telling you to buy gold are doing so BECAUSE THEY ARE SELLING IT. You're participating in driving up the price of something you have a few ounces of, and banks have by the literal tons.

The hue and cry against fiat currencies are doing so because either they are selling gold or because they are ignorant of economic history. Fiat currencies are great if they are controlled by the gov't. Disastrous when controlled by private banks. One of the root causes of the American Revolution was that the English banks forced the colonies to use hard currency instead of Colonial Scrip (a fiat currency controlled by gov'ts). When they used the Scrip, the economy grew and unemployment was low. When England banned it, the economy couldn't grow, unemployment rose. Consult the history of just about any country as to what happens when unemployment gets too high. We're starting to see it with OWS.

Be Less Ignorant:
http://video.google.com/videoplay?docid=-2550156453790090544

Getting close to Apr 7th 2012, the date by which Beck predicted we would be praying for his return. Also, crapping our pants and finding jesus.

Fabric_Man: Gold, like everything else that's even remotely rare, is used as an aphrodesiac in traditional Chineese medicine. And lord knows the Chinese need all the help they can get in that area...

They have this warming oil that works wonders.

It's applied topically.

Giggity.

This Coke tastes great with all that peepee in it!

wait, that wasn't it?

the opposite of charity is justice: Getting close to Apr 7th 2012, the date by which Beck predicted we would be praying for his return. Also, crapping our pants and finding jesus.

Beck went all Harold Camping on us?

Everything comes full circle. China now trading goods for western gold, just replacing silk with ipod.

apeiron242: Fiat currencies are great if they are controlled by the gov't. Disastrous when controlled by private banks.

Sounds like you got loaded up by the Paulites. Beware that both can really fark things up by printing more to meet demand. Imagine if our congress got direct control of the Fed, and ordered the Fed to print enough money to pay off the debt.

It doesn't take a rocket surgeon to see that responsible management is key, and part of that responsible management is to make sure the currency can be used for unique purpose, like paying taxes. That will always keep demand for currency up, even if everything else goes to barter.

But, but, but, gold is a bubble it will crash, it has no value whats so ever, it is just a shiny metal you can not eat. LOL.... Something tells me some farkers will not take to kindly to gold still being priced at over 1700 an oz. They can not beat the table any louder to make you understand that the bubble will pop, they just do not know when or how.

Fabric_Man: Gold, like everything else that's even remotely rare, is used as an aphrodesiac in traditional Chineese medicine. And lord knows the Chinese need all the help they can get in that area...

To be fair, gold is a pretty potent panty-dropper in most cultures.

apeiron242: This is one of the many reasons a gold backed currency is at TERRIBLE idea.

Your logic is sound, but very generalized. Yes the arguments "debunking" yours would be disingenuous at best, but they can be made convincing because this assumes U.S. gold exists in a closed system. This allows assholes to make any number of misleading assumptions about economic changes via U.S. monetary policy.

One other reason why the gold standard is so incredibly stupid is that gold is fungible. This is a gazillion times as important as what the fark its value is. Fark silver too; this makes backing currency with ANY commodity catastrophically stupid. America is the only country that can print U.S. dollars; the only way China can fark with the currency is to buy it, which basically forces them to become players in the dollar market. Any move to devalue the dollar by a foreign power, weakens that foreign power. It's a really nice Catch-22, and why China won't dump their U.S. bonds.

ANY country can buy gold, and the more they buy globally, the less that's available domestically. ANY financial panic in ANY country can trigger a liquidity trap here; the country would be a time bomb with absolutely no domestic policy solution except getting rid of the gold standard. The only upshot, if you can call it that, is it would make a few investors fabulously rich. And there's only one word to describe people in favor of something that would enrich themselves at the country's expense due to foreign intervention: TRAITOR.

It's about as funny as when Bush started to shelve massive amounts of gasoline, then the price of gas shot up from $38 a barrel to $130 a barrel.

Buy High!
Sell LOW!

wildcardjack: Imagine if our congress got direct control of the Fed, and ordered the Fed to print enough money to pay off the debt.

Um, that's more or less how the system has worked for the past 40 years. It's not direct control, but Congress spends money, the Treasury credits accounts, the Fed issues bonds and the primary banks bid on the bonds. It's been that way through Republican Congresses, Democratic Congresses, Republican Presidents, Democratic Presidents, deficit hawks and free spenders. The only reason why you think it's a problem now is because people with political ambitions are making a point of it and are counting on you to not understand it. And they damn near threw the country into crisis.

Giltric: I'm guessing subby bought at 1500 an oz instead of listening to Glenn back in 2001 when it was 280 an oz.

That just doesn't fit the narrative around here, so it must be trolling.

Or maybe the new leadership in China has grown angry at the capitalist expansion and loss of Chinese culture and are making a turn to the crazy. The new leaders are solidly big military, anti-modern culture, and sacred of all non-Chinese. So they've turned into Glenn Beck.

Here's a thought...

China has been on a gold binge.

Prices have not shot up.

China has prevented the collapse of the bubble by sucking in all the gold people are selling.

Which will come first, global shortage of gold or China stops buying? First option will be the one that really shoots gold up, the other crashes gold to $500/oz.

So please dispense with all the high brow dialog and tell me exactly what this means to Joe Average.

farkin_Gary: So please dispense with all the high brow dialog and tell me exactly what this means to Joe Average.

You're still screwed, so keep watching reality tv and gobbling down fast food.

Funny to read how people bash a gold standard and praise the fiat system. Let me ask you this how do you repay a debt with more debt, that is what the dollar is a promise to pay a debt owed to a third party and what is used to pay that debt with, more debt. The gold standard is money owned out right by the individual and country interest free, if debt is issued agaist that gold that debt will be paid with gold with interest. You fiat folks are some of the worse people, you just count on shifting debt to the next person while paying interest on that debt. The dollar is a scam, a bubble, a ponzi scheme and the world knows it, hell I know it, you can not accept it.

Impasse: farkin_Gary: So please dispense with all the high brow dialog and tell me exactly what this means to Joe Average.

You're still screwed, so keep watching reality tv and gobbling down fast food.

Well, I actually don't do much of either of those, so I guess I'm doubly screwed, huh.


///I'll keep my money in aluminum and copper.

pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system. Let me ask you this how do you repay a debt with more debt, that is what the dollar is a promise to pay a debt owed to a third party and what is used to pay that debt with, more debt. The gold standard is money owned out right by the individual and country interest free, if debt is issued agaist that gold that debt will be paid with gold with interest. You fiat folks are some of the worse people, you just count on shifting debt to the next person while paying interest on that debt. The dollar is a scam, a bubble, a ponzi scheme and the world knows it, hell I know it, you can not accept it.

Actually, fiat currency is backed by labor equity and raw materials. Give yourself some credit.

pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system.

A hard currency is a hard currency. If it stores value, it is good.

It does not have to be a shiny stone to be valuable.

You idiot.

IXI Jim IXI: Those golden monkey idols don't build themselves...

If brass monkey gets you laid then gold monkey gets you... into heaven?

neversubmit: IXI Jim IXI: Those golden monkey idols don't build themselves...

If brass monkey gets you laid then gold monkey gets you... into heaven?



Just the cutest heaven ever!

sendtodave: pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system.

A hard currency is a hard currency. If it stores value, it is good.

It does not have to be a shiny stone to be valuable.

You idiot.

what hard currency has held its value for over 500 yrs. Hmmmm gold and silver maybe, hmmm why not copper ok copper too. gold just happens to hold the most value. What about the dollar, the dollar loses value, evident in the rise of price of the goods we need to live on.

farkin_Gary: pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system. Let me ask you this how do you repay a debt with more debt, that is what the dollar is a promise to pay a debt owed to a third party and what is used to pay that debt with, more debt. The gold standard is money owned out right by the individual and country interest free, if debt is issued agaist that gold that debt will be paid with gold with interest. You fiat folks are some of the worse people, you just count on shifting debt to the next person while paying interest on that debt. The dollar is a scam, a bubble, a ponzi scheme and the world knows it, hell I know it, you can not accept it.

Actually, fiat currency is backed by labor equity and raw materials. Give yourself some credit.

Says who, it does not say that on the dollar, why then does it lose value. Oh becasue we have run out of equity, labor and raw materials. Should have held gold that way you can protect the value of the labor equity and raw materials backing that dollar.

pmdgrwr: what hard currency has held its value for over 500 yrs. Hmmmm gold and silver maybe, hmmm why not copper ok copper too. gold just happens to hold the most value. What about the dollar, the dollar loses value, evident in the rise of price of the goods we need to live on.

That's almost coherent.

You think that inflation occurs because... money is made from paper?

I'm sorry for calling you an idiot.

pmdgrwr: sendtodave: pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system.

A hard currency is a hard currency. If it stores value, it is good.

It does not have to be a shiny stone to be valuable.

You idiot.

what hard currency has held its value for over 500 yrs. Hmmmm gold and silver maybe, hmmm why not copper ok copper too. gold just happens to hold the most value. What about the dollar, the dollar loses value, evident in the rise of price of the goods we need to live on.

farkin_Gary: pmdgrwr: Funny to read how people bash a gold standard and praise the fiat system. Let me ask you this how do you repay a debt with more debt, that is what the dollar is a promise to pay a debt owed to a third party and what is used to pay that debt with, more debt. The gold standard is money owned out right by the individual and country interest free, if debt is issued agaist that gold that debt will be paid with gold with interest. You fiat folks are some of the worse people, you just count on shifting debt to the next person while paying interest on that debt. The dollar is a scam, a bubble, a ponzi scheme and the world knows it, hell I know it, you can not accept it.

Actually, fiat currency is backed by labor equity and raw materials. Give yourself some credit.

Says who, it does not say that on the dollar, why then does it lose value. Oh becasue we have run out of equity, labor and raw materials. Should have held gold that way you can protect the value of the labor equity and raw materials backing that dollar.

Man, I thought you were trolling after that Boobies. I was about to laugh at people for actually replying to you. But it seems like you might just be irredeemably pants-on-head stupid.

And now I look stupid.

sendtodave: you're sorry? to whom? the other idiots for lumping pmdgrwr in with them?

pmdgrwr: Let me ask you this how do you repay a debt with more debt

Worked pretty well for the past 40 years, and for all the cries of U.S. default the 10-year bond is at 2%. Business should have principles but monetary policy should be about what works, and you have to be batshiat retarded to dick with a working system -- especially if you're advocating going back to a system that was abandoned for all the financial crises it caused.

You can't really compare the government to a household or business and have a hope of understanding monetary policy. It's like trying to understand a business model solely through the eyes of a customer; at best you're missing half the equation.

sendtodave: A hard currency is a hard currency. If it stores value, it is good.

Then store your value in gold. No one's stopping you. But currency's main job is a medium of exchange, and gold for that was so awful it was abandoned. But since its abandonment as currency one can still freely invest in it and it's got its intrisawhateverfark value one way or another, so what's your farking problem? If you don't trust the government to manage dollars, just buy your effin' gold and STFU. Don't impose your monetary ideology on a working system like it's an effin' religion.

pmdgrwr: Says who, it does not say that on the dollar, why then does it lose value.

By design, actually. We deliberately devalue the dollar to encourage monetary velocity -- something that's all but impossible to do with gold. And it's all good because a medium of exchange only needs short-term stability. The guy behind the counter at the sandwich shop isn't going to turn down your dollars just because of what it was worth back in 1920. Well, I guess he could, but he'd be out of business in short order.

sendtodave: pmdgrwr: what hard currency has held its value for over 500 yrs. Hmmmm gold and silver maybe, hmmm why not copper ok copper too. gold just happens to hold the most value. What about the dollar, the dollar loses value, evident in the rise of price of the goods we need to live on.

That's almost coherent.

You think that inflation occurs because... money is made from paper?

I'm sorry for calling you an idiot.

This is why my fark color scheme now includes Paultard-Purple.

pmdgrwr: But, but, but, gold is a bubble it will crash, it has no value whats so ever, it is just a shiny metal you can not eat. LOL.... Something tells me some farkers will not take to kindly to gold still being priced at over 1700 an oz. They can not beat the table any louder to make you understand that the bubble will pop, they just do not know when or how.

Gold will likely clear 2000 an oz. Doesn't mean it isn't a bubble. I think there is still money to be made in gold in fact, and probably will be for awhile yet. It still scares the living hell out of me and I will not touch it. The potential upside versus the downside is too much. Gold is where it is because our political and economic leaders are idiots and people are scared to death. The day will come where people, for some reason or another, will stop being scared. When that happens, money is going to leave the gold market rapidly. The combination of its price and the uncertainty of the future is just too rich for my blood. If you think gold will hold the prices it has now in the years to come, then you'll get caught with your pants down eventually. In the meantime, I hope it works out if you're in gold--just know when to get out.

dragonchild: Then store your value in gold. No one's stopping you. But currency's main job is a medium of exchange, and gold for that was so awful it was abandoned. But since its abandonment as currency one can still freely invest in it and it's got its intrisawhateverfark value one way or another, so what's your farking problem? If you don't trust the government to manage dollars, just buy your effin' gold and STFU. Don't impose your monetary ideology on a working system like it's an effin' religion.

... buh?

The US dollar is also hard currency. "Hard currency" doesn't mean "you can beat someone over the head with it."

It means "it stores value, because people continue to want it."

Although, I guess a bag of nickles would qualify as both.

Funny you call me an idiot, for holding gold. Yep I am an idiot, bought gold at 1100 oz instead of risking it with stocks. I should have deposited in the bank making .05% interest. A side from that you can bash gold and support fiat paper, fact is the fed devalues your money and you cheer for being poorer. The fed has injected trillions and the price of gold rises as the value of your fiat falls. Yea I am idiot. You as the others from yrs ago who keep bashing gold do not seem to realize the dollar is doomed plain and simple. Evident in the fact that the country can not generate enough meaningful jobs and generate enough cash to support a strong healthy economy. Must suck to know that the price of beer is rising, now it cost you more to drown your pain. Only if there was such a way to protect the purchasing power of your money so you can buy more beer in the future. Stupid gold.

Fabric_Man: Gold, like everything else that's even remotely rare, is used as an aphrodesiac in traditional Chineese medicine. And lord knows the Chinese need all the help they can get in that area...

What isn't an aphrodisiac to them?

It seems like every week there's a new species going extinct in the name of providing Chinese men with erections (hyperbole I know, but only slightly).

YoungLochinvar: sendtodave: you're sorry? to whom? the other idiots for lumping pmdgrwr in with them?

I'm sorry for underestimating him.

/see how nice I'm trying to be?

pmdgrwr: You as the others from yrs ago who keep bashing gold do not seem to realize the dollar is doomed plain and simple.

If the dollar fails, the entire world economy goes with it.

Then, you can eat your gold.

pmdgrwr: Funny you call me an idiot, for holding gold. Yep I am an idiot, bought gold at 1100 oz instead of risking it with stocks. I should have deposited in the bank making .05% interest. A side from that you can bash gold and support fiat paper, fact is the fed devalues your money and you cheer for being poorer. The fed has injected trillions and the price of gold rises as the value of your fiat falls. Yea I am idiot. You as the others from yrs ago who keep bashing gold do not seem to realize the dollar is doomed plain and simple. Evident in the fact that the country can not generate enough meaningful jobs and generate enough cash to support a strong healthy economy. Must suck to know that the price of beer is rising, now it cost you more to drown your pain. Only if there was such a way to protect the purchasing power of your money so you can buy more beer in the future. Stupid gold.

You do realize the average person doesn't hold cash as an investment, right? Oh wait, you're an idiot.

Eddie Adams from Torrance: pmdgrwr: what hard currency has held its value for over 500 yrs. Hmmmm gold and silver maybe, hmmm why not copper ok copper too. gold just happens to hold the most value. What about the dollar, the dollar loses value, evident in the rise of price of the goods we need to live on.

And if tomorrow, shiny goes out of fashion and people decide that gold is no longer desirable, then what?

Your argument isn't worth a silver dime.

Really? What if's? Really, not much will happen, fact is you do not own gold and neither do the folks posting with me. That has not really seemed to affect the price to much now and for the past 40 yrs. What are you going to do to protect your wealth, your labor, your fiat money from losing its value. Oh I know risk it on the market.

pmdgrwr: fact is the fed devalues your money and you cheer for being poorer.

That is why holding large sums of cash is not a very bright idea. Don't put it in savings, but invest it in things that will beat the loss of value.

Don't forget that this time value of money is one of the driving things that helps those that are in debt. For us who have 30 year mortages, that principal gets smaller every year and not just by what you pay it down. And let's realize who has the most debt out of all of us. That should tell you quite a bit about why the devaluation of the dollar is important.

You as the others from yrs ago who keep bashing gold do not seem to realize the dollar is doomed plain and simple.

Not really doomed. We just recognize the nature of this monetary system and do what we can to work around its shortcomings. Yes, that may mean buying gold or other commodities.

Evident in the fact that the country can not generate enough meaningful jobs and generate enough cash to support a strong healthy economy.

Although related somewhat, this is pretty much a seperate issue from the nature of the monetary system.