The trustees of the University of Texas took delivery of ONE BILLION US DOLLARS IN GOLD recently.
http://www.zerohedge.com/article/golden-tipping-point-university-texas-takes-delivery-1-billion-physical-gold
If Americans do not trust the worth of their own currency no more, why should people from outside of America?
Value from any object is a matter of one's personal perception. Gold can be just as worthless as a Dollar Bill just because man perceives Gold as pretty and Governments place value of Paper Currency because they just do. It's a crazy world out there, Fascists are fools, Credit Cards stink, Bills smell of yuck, Loans are a ripoff and Opals are my favorite shiny sparkly.
Because they know the $ is worthless. So is every other other paper currency. It's target is 0 value. This is guaranteed and so is your starvation.
I've posted about these issues before on this forum. I last posted about silver. It was around $17 I think. Now it is around $37. It got near $50 but was manipulated down again.
Gold and silver are just pieces of metal.
Shiny Metallic Rubbish. It´s lifeless.
I suggest we start trading chickens and goats as currency.
Hey, over in Africa and some other places they trade cows, pigs and
women ! :D
Gold and silver are the best holders of value we know of. Especially gold. It lasts forever and the government can't print it. Is is useless for anything else. This is exactly why it is good for storing value.
Fiat paper currency can only work if it is used to create value. The bankers create no economic value with it at all. This is why I know billions will simply starve to death. If productivity drops then people die. It's quite simple. If you are not creating real economic wealth i.e. building things like power stations, inventing new technologies etc then you can't sustain the population.
The solutions to the present problems are simple. First, get Obama out. Go back to the Constitution. Then reinstate Glass Steagall. The US government issues money as credit. Bankrupt Wall street and the City of London. Throw the British Royal Family out while you're at it. The British crown controls the banking system. It is not just the Queen. If the US goes back to constitutional rule then the rest of the world has to follow.
How likely is this? Not likely because the populations of most countries are completely stupid and keep voting the same kind of puppets in. That's why you need to invest in real assets. Gold and silver are good.
Quote from: efflux on May 12, 2011, 11:56:06 AM
Especially gold. It lasts forever and the government can't print it. Is is useless for anything else.
Wrong, I've seen gold-plated USB plugs. connectors. etc. It's a very good conductor that doesn't tarnish like copper does.
I have also seen gold plated Ak-47 and UZi machine-guns .
I wonder what kinda of bullets they shoot? :P
This is one crazy planet.
Well it has a few uses but very minimum so the amount of gold around doesn't really get used up industrially. Silver is in fact a better buy. It gets used more but there is no other commodity better than gold to use as money. It's been that way for 6000 for a reason. Every fiat money system has failed. The world system has been completely fiat since the $ was disconnected from gold in 1972. There is no way for this system to survive because once the money system is completely controlled by bankers they destroy it. They did it before the dark ages for example. That is the kind of downfall of civilization you can expect except worse.
I'm in! I ate last fortnight because I sold some old gold I had lying around(I'm a silver man, too. Love it! :D) for a lot of money!
If it wasn't for gold, I'd be one of those starvings...
* You can send your old gold to dandelO@poorcuntz.co.uk...
Quote from: dandelO on May 13, 2011, 11:40:32 PM* You can send your old gold to dandelO@poorcuntz.co.uk
Oh sure !