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Is America Rich?


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    Dutch Wrote:
    lonely bird Wrote:
    AmcmurryFreedom Wrote:

    Apparently, you do not know the words "Intrinsic", "Convenient" and "Consistent" and fail to recognize the concepts. Although, I can imagine it being difficult to change a piece of gold for smaller piece change. But the issue is rather you have a gold bar that could be several pounds or you have a gold piece at an 1oz. The mass or weight of the gold does not change its value per 1oz, whereas if you cut a diamond its value is less than a larger diamond regardless of the weight. Similarly as gold around the world has the same value determined by the gold markets, currency does not, such as rubles to dollars to yen.

    So nobody has explained why the United States has over 8,100 Tons of Gold in holding.............what is it for? Actually, I read other links that indicated the U.S. sold much of the gold it held in the 1950's. So, counting all the gold American citizens hold and adding to the U.S. Treasury holdings it must be a whole lot more than 8,100 Tons. How's that song go......16 tons what do you get, deeper in debt.......(an oldie from Tennessee Ernie Ford).

    sigh, and neither do you. every phucquing metal has consistent worth. 1 ounce of platinum has the same worth in terms of percentages as 1/2 ounce of platinum. it is simply worth 50% less than 1 ounce but the COST or VALUE per ounce is unchanged. the same applies to zinc, copper, aluminum etc. convenient is irrelevant since gold ore from the ground can contain impurities whereas gold bars and gold coins PRESUMABLY do not. of course you are accepting a statement that said bars and coins are "X"% pure. yet by making that assumption you are making a bet. if the bar has been adulterated or the coin debased the amount of gold changes and the value of that bar and coin change correspondingly. yes, the price of an ounce of gold didn't change but that is irrelevant when trying to inject the gold into the economy by making purchases. furthermore the price of gold per ounce is not fixed so it is not "consistent." your and stansberry's stupidly simplistic concept of consistent means nothing in the real world because gold is a commodity subject to fluctuations based upon speculation and other events.

    now as for intrinsic which means "essential, belonging naturally." i guess you have again failed to understand the lack of any relationship between gold and intrinsic value when applied to money/currency/worth. gold has no intrinsic value. it has no intrinsic worth as currency or money. its value as money or currency arrises for human decisions that it is so. the only value it truly has since appearance doesn't supply you with food or water is from an engineering standpoint. its value as money is fiat. fiat - "it shall be" is applied to paper or electronic currency because a government has decided that it is money. further research of the definition of fiat currency is one that is not backed by a physical commodity. yet the same thing applies to a physical commodity. and most especially to gold. naturally currency cannot be backed by a commodity such as food yet that commodity truly has worth as humans need food to survive. humans do not need gold to survive.

    i provided you with reasons why other countries are stockpiling gold. the reasons for the u.s. are the same. and the actions that would result in having to use that gold other than for sitting around apply to the u.s as well. it will mean nothing but humans BELIEVE it will. and when the chaos comes, should it come, it will show their belief to be misplaced. those who control those things which humans need to survive will have power over those who hold gold. gold is not an inflation hedge. since certain things are needed to live those who hold those things can raise "prices" so that the fiat currency called gold becomes worthless.

    I have no idea what you are trying to prove; "gold" or "money" are both "earthly"; once your dead it means nothing, neither when we blow up or destroy this globe. The banks on Mars don't accept either one.
    just proving amcf has no idea what the hell he is asking let alone talking about. stansberry wants to sell him something and he thinks there is some deep conspiracy.
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    Still nobody has a convincing answer to why the world holds gold other than maybe the fascination of the yellowish precious metal. Considering the vaults and costs of security holding the gold, the fascination must not be the only answer. Thereby, this hoarding of gold must be some imaginary sense of security, such as if world chaos and catastrophic events occur, nations will have their gold. Gold, which is apparently more valuable than our currency.

    So, if we go to other planets on one future day and gold is found, do we let it lie where its found as if, "oh, it's just gold, we don't need it." I'm willing to bet finding a fortune of gold that there will be a massive space race to immediately mine and bring back that precious metal. This means more vaults and more costs to security to retain an enormous amount of gold.

    I seem to remember during my college years, earthly science had sufficient discovery in that our planet's mantle and below toward the center is molten gold. This may be why earth volcanic activity over the billions of years show gold deposits that are found on the surface. So, here's another massive source of possible gold mined and hoarded in our Treasuries.

    Of little information for those who get rid of their electronics where circuit boards are often plated with a gold film for conductive paths. This gold film is removed by hard working people in such poor countries like Southeast Asia and accumulated over time. Although there are other valuable materials collected, even silver, copper and rubidium. But gold is the most attraction. This example shows how people work to accumulate gold. What was it in that Hobbit movie........"My Precious". How is gold so precious that people slave to accumulate and hoard it with enormous costs of banks and security?

    Maybe someday America will have so much gold that we can all skip through the way to Oz on gold bricks, of course, with Toto. This brings up another question, "Is America's gold holding of more than 8,100 Tons enough or do we need more?".

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    AmcmurryFreedom Wrote:

    Still nobody has a convincing answer to why the world holds gold other than maybe the fascination of the yellowish precious metal. Considering the vaults and costs of security holding the gold, the fascination must not be the only answer. Thereby, this hoarding of gold must be some imaginary sense of security, such as if world chaos and catastrophic events occur, nations will have their gold. Gold, which is apparently more valuable than our currency.

    So, if we go to other planets on one future day and gold is found, do we let it lie where its found as if, "oh, it's just gold, we don't need it." I'm willing to bet finding a fortune of gold that there will be a massive space race to immediately mine and bring back that precious metal. This means more vaults and more costs to security to retain an enormous amount of gold.

    I seem to remember during my college years, earthly science had sufficient discovery in that our planet's mantle and below toward the center is molten gold. This may be why earth volcanic activity over the billions of years show gold deposits that are found on the surface. So, here's another massive source of possible gold mined and hoarded in our Treasuries.

    Of little information for those who get rid of their electronics where circuit boards are often plated with a gold film for conductive paths. This gold film is removed by hard working people in such poor countries like Southeast Asia and accumulated over time. Although there are other valuable materials collected, even silver, copper and rubidium. But gold is the most attraction. This example shows how people work to accumulate gold. What was it in that Hobbit movie........"My Precious". How is gold so precious that people slave to accumulate and hoard it with enormous costs of banks and security?

    Maybe someday America will have so much gold that we can all skip through the way to Oz on gold bricks, of course, with Toto. This brings up another question, "Is America's gold holding of more than 8,100 Tons enough or do we need more?".

    Again, I repeat does gold makes you happy, a long life/ health/ can you eat it? Does it stop killing or a nuke?
  • Are you sure you want to delete this post?
        
    AmcmurryFreedom Wrote:

    Still nobody has a convincing answer to why the world holds gold other than maybe the fascination of the yellowish precious metal. Considering the vaults and costs of security holding the gold, the fascination must not be the only answer. Thereby, this hoarding of gold must be some imaginary sense of security, such as if world chaos and catastrophic events occur, nations will have their gold. Gold, which is apparently more valuable than our currency.

    So, if we go to other planets on one future day and gold is found, do we let it lie where its found as if, "oh, it's just gold, we don't need it." I'm willing to bet finding a fortune of gold that there will be a massive space race to immediately mine and bring back that precious metal. This means more vaults and more costs to security to retain an enormous amount of gold.

    I seem to remember during my college years, earthly science had sufficient discovery in that our planet's mantle and below toward the center is molten gold. This may be why earth volcanic activity over the billions of years show gold deposits that are found on the surface. So, here's another massive source of possible gold mined and hoarded in our Treasuries.

    Of little information for those who get rid of their electronics where circuit boards are often plated with a gold film for conductive paths. This gold film is removed by hard working people in such poor countries like Southeast Asia and accumulated over time. Although there are other valuable materials collected, even silver, copper and rubidium. But gold is the most attraction. This example shows how people work to accumulate gold. What was it in that Hobbit movie........"My Precious". How is gold so precious that people slave to accumulate and hoard it with enormous costs of banks and security?

    Maybe someday America will have so much gold that we can all skip through the way to Oz on gold bricks, of course, with Toto. This brings up another question, "Is America's gold holding of more than 8,100 Tons enough or do we need more?".

    I have stated it. Man believes and decided it had value. And thus it was used to underpin other fiat currencies. The rest is in my first post. Nations hoard for economic warfare reasons, as hedges (that don't work) against hyper-inflation or economic collapse. This is all based on a psychological response to a metal that is rare although not as rare as some others, very pretty and inert.

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    I have no idea how much gold Bill Gates has but you can bet your ass he has mad wealth.