I'm just asking that you show me someone that agrees with your assesment of the future. No-one knows EXACTLY what will happen, but the future is not totally random. Economists know, for example, that the fuel price will increase in the next 50 year. It's POSSIBLE that it wont, but chances of it happening far outweighs chances of $20 per barrel in 2020.
I'm just pointing out that I could not find a SINGLE peak oil expert, economy expert or futurist that thinks gold will become useless in the next 50 years. You might as well be of the opinion that man will build a warp drive and fly to Alpha Centauri by 2050. Yes it's within the realms of possibility, but no-one would take it seriously enought to plan for it.
I'm not american but I believe the gold thing with Rooseveld was a buy-back scheme not a cinfiscation. Your quote seems to agree. Also that was overturned in the 90s (I think?) and you are again allowed to own gold. Like I said - I'm luckily not in the US.
PeakOil is You
Devaluation of the Dollar: My friend said something
by chargrove » Thu 28 Apr 2005, 06:08:02
$this->bbcode_second_pass_quote('', 'I')'m not american but I believe the gold thing with Rooseveld was a buy-back scheme not a cinfiscation (sic).
Buy-back using a progressively devaluing fiat currency is confiscation.
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by RdSnt » Thu 28 Apr 2005, 09:37:10
$this->bbcode_second_pass_quote('Devilboy', 'I')'m just asking that you show me someone that agrees with your assesment of the future. No-one knows EXACTLY what will happen, but the future is not totally random. Economists know, for example, that the fuel price will increase in the next 50 year. It's POSSIBLE that it wont, but chances of it happening far outweighs chances of $20 per barrel in 2020.
I'm just pointing out that I could not find a SINGLE peak oil expert, economy expert or futurist that thinks gold will become useless in the next 50 years. You might as well be of the opinion that man will build a warp drive and fly to Alpha Centauri by 2050. Yes it's within the realms of possibility, but no-one would take it seriously enought to plan for it.
I'm not american but I believe the gold thing with Rooseveld was a buy-back scheme not a cinfiscation. Your quote seems to agree. Also that was overturned in the 90s (I think?) and you are again allowed to own gold. Like I said - I'm luckily not in the US.
I'm just pointing out that I could not find a SINGLE peak oil expert, economy expert or futurist that thinks gold will become useless in the next 50 years. You might as well be of the opinion that man will build a warp drive and fly to Alpha Centauri by 2050. Yes it's within the realms of possibility, but no-one would take it seriously enought to plan for it.
I'm not american but I believe the gold thing with Rooseveld was a buy-back scheme not a cinfiscation. Your quote seems to agree. Also that was overturned in the 90s (I think?) and you are again allowed to own gold. Like I said - I'm luckily not in the US.
I agree with Cool Hand.
He seems to be considering the possibilities and what the likely reactions and outcomes may be. I'm not seeing anything he's written as declaring he sees a very certain way things will happen.
I agree the first thing to do is make sure you can eat, have safe water and shelter. Cool Hand hasn't ruled out owning a bit of gold, it's prudent but not a priority.
I'm a firm believer that gold and silver are valuable tools, I own both and will purchase more. 5000 years of history show gold is the most reliable tool for monetary transactions.
I do agree though with Cool Hand that at some point gold could be valueless. If things turn real bad then gold in the short-term will be very valuable, but as things deteriorate (if there is a distinct die-off) panic will set in and gold, or any mode of exchange will be worthless. In the very long-term, for those who survive, gold will return to being the exchange medium of choice. In the US, where most of the population has deliberately chosen ignorance, as the economy collapses there is a very real possibility of panic and riots. It doesn't take much in many large American cities to set people off.
Many of those who are promoting gold now have not really come to terms with the implications of PO and possible die-off. They are still looking at this all as a temporary crisis, like the last depression. They are thinking of what's the best way of taking advantage and coming out the other side RICH. Those people are fools.
Gravity is not a force, it is a boundary layer.
Everything is coincident.
Love: the state of suspended anticipation.
To get any appreciable distance from the Earth in
a sensible amount of time, you must lie.
Everything is coincident.
Love: the state of suspended anticipation.
To get any appreciable distance from the Earth in
a sensible amount of time, you must lie.
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by Leanan » Thu 28 Apr 2005, 09:58:35
During the Great Depression, wealthy people bought up jewelry, land, and other valuables for pennies on the dollar. Why should gold be exempt from that, now that our currency is not backed with gold?
Certainly, owning some gold can be prudent. But if you think that a gold coin will automatically buy you a week's food and shelter...you may end up cold and hungry.
Certainly, owning some gold can be prudent. But if you think that a gold coin will automatically buy you a week's food and shelter...you may end up cold and hungry.
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by Pops » Thu 28 Apr 2005, 10:42:43
Leanan makes a good point here. Another thing to consider is your location. I’m about 50 miles from a town of any size and though there are pawnshops nearer it might be hard to sell gold at full price if travel became difficult – serious shortage or big spike in price or roving mutant zombie bikers LOL!
How is my neighbor, local grocer or banker for that matter, to know the value of a gold coin? That’s not a rhetorical question.
I’m ambivalent regarding metals, probably since my savings is in land and tools. But I worry that my hypothetical gold coin, instead of buying 100# of potatoes at a dollar a pound would only buy a pound of $100 potatoes.
How is my neighbor, local grocer or banker for that matter, to know the value of a gold coin? That’s not a rhetorical question.
I’m ambivalent regarding metals, probably since my savings is in land and tools. But I worry that my hypothetical gold coin, instead of buying 100# of potatoes at a dollar a pound would only buy a pound of $100 potatoes.
The legitimate object of government, is to do for a community of people, whatever they need to have done, but can not do, at all, or can not, so well do, for themselves -- in their separate, and individual capacities.
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
-- Abraham Lincoln, Fragment on Government (July 1, 1854)
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