So you don't mind being fucked over on how little they will give? I thought gold was supposed to be held on to for years and years to combat bad times?
I guess I should've specified. In this market where the dollar is consistently being devalued through the creation of more money, gold is a good store of value against the dollar. Sorry, I don't have data on the future. Do you have the data for the next 12 months? I thought that was what was being discussed.
Guise, gold is just like the dollar. It only holds value because of the value we believe it holds. When the shit hits the fan, you can bet i'm not gonna be one of the dudes supporting ANOTHER crocked up currency Gold can/will be exploited just like paper cash. Gold may have a long track record, but that long track record is also filled with corruption, just like that dolla. Hemp is like a do-all solution to energy, material goods ie. clothing... you guys should know this lol how about advocation of hemp in being the new currency of sorts?
i think the videos i posted fit in this thread well http://forum.grasscity.com/videos/747961-educational-cartoon-about-banks-$$$.html
Gold's value comes primarily from it's rarity. Paper isn't rare. Gold cannot be exploited like paper. Hemp is not rare, therefore it isn't a stable store of value. If there is a blight then the value of hemp will explode, and if there is a surplus it will drop.
Ahhh, but see you're thinking all wrong there's eneough hemp and uses for hemp to wipe out our dependencies on currency which is why the current system is so opposed to it imo. Shiny rock is shiny, but does me no good. edit: and also i don't think blights too common these days. edit2: its also more valuable (in my opinion, and opinion is all that gives value anyway) because it is 100000X more useful.
lol think about it for a second. we buy bills. electricity and fuel primarily if those needs were met, at practically 0 cost, i think we'd start realizing the absurdity of being so dependant on false currencies.
Currency > Barter System We will always need to trade with one another, and you need a medium of exchange for that.
What I'm asking is where your prediction is coming from. Gold is very near the top of the height it reached the last time it experienced an asset bubble. If you believe gold is a good short-term investment then you must be concluding one of two things: 1) The current value of gold is not an asset bubble, but rather the new "normal" for gold prices. or 2) While the value of gold will fall in the long term, in the short term it has not reached its "peak" yet. Either way, and I don't mean this sarcastically at all, I'm wondering what you're basing this on. I study economics because I enjoy it, and everything I've seen points to an asset bubble in the gold market. However, I also don't have time to read everything that's out there, so if you have numbers I haven't seen, I'm genuinely interested in seeing them.
How is a rock sound money? You can explain it all you want, its rarity whatever, all I see is a rock that shines sparkly in the sunlight. Thats it.
That's what you see, but to everyone else edit - You can trade it for some paper moneyz or you could make some bricks and stack 'em up 'till the end of civilization. The people around today did not establish gold as a rare, precious, sought after item. It has been that way since pre-columbus times. So, based on history, I think it's safe to say gold will forever hold it's weight mayne
Sound money is a term for money backed by a commodity, and the more finite the commodity is the better it is as a store of value. Money is a medium of exchange, and people assign to the medium a seemingly arbitrary value that is based upon scarcity and its measurability. Metals have been chosen for thousands of years because they are both rare and easy to divide/transport. To say that paper is just as good as gold is absolutely retarded. If you had said, "It's just a stupid rock, but it's not as stupid as paper", then I would be more willing to agree with you.