$60b wiped off market (7 Viewers)

[Blastus]

yes i'm decrying using it as a store of value for the reasons i stated. i 100% understand the reasons why it is used as a store of value yet, my personal train of thought is such that those reasons are illogical. as i said, i am in no way denying money can be made from it, just that the philosophy of storing wealth in a piece of metal which doesn't do anything seems absurd to me.

it doesn't lose value at the same rate as fiat currencies given how inflated they've been to fund stimulus programs?

 

[abbeyroad]

Then why is storing value in pieces of plastic that don't do anything any different

lol lol iknowrite

dont invest in foreign currencies itz illogical by my personal train of thought!11!! moniz r just paper dey dunt do nuthing itz abusrd 2 store moniz wealth in pieces of paper/plastic which don'tz do nuthing unlike goats@2@11!!

omgzz investment in shares/derivatives illogicl 2 dey dont do nuthing11!!!!

hahahahhaha assuming that you could do away with gold as a store of value for the reasons you outlined, well then not much of economics would remain: for financial instruments such as money, stock and bond attain their value not through use but voluntary exchange, which, by your logic, renders them unsuitable as stores of value. yeah how would your economy work without financial instruments which are essentially pieces of paper that don't actually do anything Marx?

"I would pay you 4 goats for your put option"

"I want 4.234 goats for it so start chopping son"

oh wait you don't believe in derivatives as stores of value because they don't really do anything lol~~~11!!

 

[cosmo kramer]

why not money printed on TWO MINUTE NOODLES then money will have a use

 

[Riproot]

Print more.

 

[zombie omie jay]

Basically the entire economy feels like it is in recession except for the mining industry.

what how

 

[Garygaz]

lol lol iknowrite

dont invest in foreign currencies itz illogical by my personal train of thought!11!! moniz r just paper dey dunt do nuthing itz abusrd 2 store moniz wealth in pieces of paper/plastic which don'tz do nuthing unlike goats@2@11!!

omgzz investment in shares/derivatives illogicl 2 dey dont do nuthing11!!!!

hahahahhaha assuming that you could do away with gold as a store of value for the reasons you outlined, well then not much of economics would remain: for financial instruments such as money, stock and bond attain their value not through use but voluntary exchange, which, by your logic, renders them unsuitable as stores of value. yeah how would your economy work without financial instruments which are essentially pieces of paper that don't actually do anything Marx?

"I would pay you 4 goats for your put option"

"I want 4.234 goats for it so start chopping son"

oh wait you don't believe in derivatives as stores of value because they don't really do anything lol~~~11!!

holy fuck you guys are incapable of having a decent discussion, you actually expect me to reply when you post shit like this? for all my apparent shit investment philosophy, maybe it'd interest you that my portfolio is up 22% from beginning of the financial year already.

money is a direct substitute for trading by barter, everyone knows its value. people work a days work, they get an income, a value is placed on their time and hence they can buy goods/services with their EARNED cash.

gold is like the housing market in 07 right now. its speculation/emotional trading run rampant. 'oh why would the housing market crash in the states, this is prime land, there's constantly population growth to put more pricing pressure on real estate, it can never go down'.






Article/graph showing massive shorting increase in gold from investment banks.

http://goldnews.bullionvault.com/gold_short_063020106

p.s i realize that article is a year old, will update, have seen recent figures, can't remember the exact site though.

 

[cosmo kramer]

stop gold knocking
i have so much gold

like $40,000 worth of gold

 

[zombie omie jay]

i remember when gold was $400 usd

:'(

roughly the same time i found a 3 ounce gold nugget in our driveway

good times

 

[Garygaz]

who the hell finds a gold nugget on their drive way

 

[Lolsmith]

"We shouldn't store value in something because it doesn't do anything"

*called out on stupid logic*

"omg u guize hav a deecent diskushun"

 

[zombie omie jay]

m8 i lived on a farm in peak hill okay the place is pretty much made of gold
2 gold mines within 30km

 

[Garygaz]

fuark i'm pretty sure i never said we shouldn't use gold as a store of value. but keep on saying whatever you want. let me spell it out clearly for you, because clearly you've got these pre-prepared, shit one liners in your head before you post:

1. i believe gold is overvalued and in a bubble
2. i recognize/understand golds place as a store of value yet i personally don't agree with the philosophy behind it


i'm happy to discuss with anyone why i think this is the case, but shit son, post something worthwhile.

 

[zombie omie jay]

when should i sell my gold nugget and how/where

 

[cosmo kramer]

when should i sell my gold nugget and how/where

you can sell gold at heaps of places in the u.s.a no questions asked really easily

 

[Garygaz]

don't go to those gold sellers stands at shopping centres, they will give you a pretty poor price. google for some jewellery estates, maybe.

 

[cosmo kramer]

sell it to me ill buy it

 

[zombie omie jay]

how much will you pay per ounce

 

[Garygaz]

http://www.wikihow.com/Calculate-the-Value-of-Scrap-Gold

 

[zombie omie jay]

ill sell it to you for $3000

it has a small mark on it from when i hit it with pliers because my dad wouldnt believe that it was gold

 

[cosmo kramer]

deals off