GOLD- the only true currency?

purch

I have no doubts about it!

:eek:

We'd have never guessed !!!! :rotfl:

Lol_UK_2

purch wrote: »

:eek:

We'd have never guessed !!!! :rotfl:

Gold has worked down from Alexander s time... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory.

Baruch, Bernard M.
1870-1965 American Financier

Masomnia

Lol_UK wrote: »

Gold has worked down from Alexander s time... When something holds good for two thousand years I do not believe it can be so because of prejudice or mistaken theory.

Baruch, Bernard M.
1870-1965 American Financier

If we are in 'unprecedented' times as you say, and currency is at risk, what you makes you think that gold will hold out this time as well?

Oil has been used for thousands of years, is set to get scarcer, why not oil? Why not buy something that is currently cheap, rather than something that is currently relatively expensive?

Lol_UK_2

Masomnia wrote: »

If we are in 'unprecedented' times as you say, and currency is at risk, what you makes you think that gold will hold out this time as well?

Oil has been used for thousands of years, is set to get scarcer, why not oil? Why not buy something that is currently cheap, rather than something that is currently relatively expensive?

Because oil is consumed and is short-term.
It goes up and down in value and will run out.
All the gold mined is still here!
Don't think we were ever on the oil standard as a way of making our fiat currency worth something...

purch

All the gold mined is still here!

Yeah, but are you sure ? ? ?

You can't believe everything they tell you ya know !!!!

Lol_UK_2

purch wrote: »

Yeah, but are you sure ? ? ?

You can't believe everything they tell you ya know !!!!

Hee hee!:T

kingmonkey

How much gold do they use on satellites and space probes?

+ can I point out to an earlier post that gold output is 2% yearly, that means the price should decrease by 2% yearly in real terms.

The only thing proping up the price of gold is the greater fool theory.

sabretoothtigger

I heard every ton of japanese raw sewage contains a few kilos of gold. Gold is in car catalysts I think

Silver is consumed in production of a few items I think but its production has also risen alot recently



https://www.digg.com/world_news/Japan_Sewage_Yields_More_Gold_Than_World_s_Top_Mines

Lol_UK_2

kingmonkey wrote: »

How much gold do they use on satellites and space probes?

+ can I point out to an earlier post that gold output is 2% yearly, that means the price should decrease by 2% yearly in real terms.

The only thing proping up the price of gold is the greater fool theory.

Maybe they use that 2% on satellites and space probes!
2% is a blip in the total so I don't think that is particularly relevant- and gold is on the rise right now for one good reason- currencies are falling and people want to buy it as an investment for the tough times ahead.

Blah99

sabretoothtigger wrote: »

Gold is in car catalysts I think

It's platinum in a catalytic converter. Interesting article you posted, btw.

Gold also goes into all sorts of stuff - circuit boards/conductors/av equipment etc...

Now for a resource that's on the extraction decline but demand incline, look at uranium!