ixic Posted May 8, 2016 Report Share Posted May 8, 2016 Gold Is Real Money; Necessary to Preserve Wealth - Fulp Certified Professional Geologist and Kitco commentator Mickey Fulp reviewed the gold-silver ratio since the U.S. left the gold standard, concluding that every investor must include gold in their portfolios. “I have written a lot of words documenting the record of gold and silver prices and ratios over the nearly 45 years since the United States (and therefore, the world) abandoned the gold standard. But what are the longer-term ramifications of a monetary system without backing? “From that juncture, we were left with nothing but a basket of fiat currencies posing as surrogates for real money. History has proven time and time again that all governments, whether city-states, countries, or empires, eventually debase their currencies to worthlessness and the world economic system lapses into chaos. We nearly witnessed such a scenario in the late summer and fall of 2008 but somehow, the banksters saved the system until a future day. Their solution, however, spawned a current world economy saddled by unserviceable debt, serial insolvencies, negative interest rates, deflation, and debased currencies. “Many of us realize the present world economic paradigm is unsustainable and collapse is inevitable. Some pundits pontificate that this economic Armageddon is imminent. But folks, I am here to tell you that no one can predict when it will happen. Those that try seem mere analogues to fundamental religious zealots who set serial dates for the end of the world. As you can gather, it is difficult for me to put much stock in their perma-gloom-and-doom dogma. “That said, here’s what I know: gold is real money and owning it will preserve your wealth no matter what economic catastrophe is laid upon us. I’ve got my stash and trust that you do, too….” (“The 45-Year Record of Bullion Prices,” Kitco, 5/3/16.) 4 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted May 12, 2016 Report Share Posted May 12, 2016 (edited) Yeppers! I'll keep digging Edited May 12, 2016 by SocalDinar 2 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted May 13, 2016 Report Share Posted May 13, 2016 If you ever get a chance to watch this movie do it! 2 Quote Link to comment Share on other sites More sharing options...
ixic Posted May 13, 2016 Author Report Share Posted May 13, 2016 Thanks Socal. That trailer definitely peaked my interest. Unfortunately, I am expecting a crash in the near future. How soon? I guess we'll find out. Hope everyone is stocked up. 3 Quote Link to comment Share on other sites More sharing options...
SocalDinar Posted May 13, 2016 Report Share Posted May 13, 2016 I am stocked up fairly well IXIC. . I have been my whole life. My father always talked of an imminent crash and how Nixon's decision to take us off the Gold standard in 71 was a recipe for disaster.. 45 years later I'm still waiting for it. LOL. 3 Quote Link to comment Share on other sites More sharing options...
Hearts Posted June 7, 2016 Report Share Posted June 7, 2016 I think it is important to own some physical gold, and keep it outside of the USA. Not as a speculator or investment scheme, but merely to offset a potential loss in the value of the USD. The more dollars you have at risk in the USA, the more physical gold you should have as a hedge. At least that is what I am trying to do. If the USD loses a lot of value, should not gold command a lot more of those dollars? If in the future you need USD, you can always cash in some gold (hopefully for a lot of USD) and convert to USD to buy what you need here. 2 Quote Link to comment Share on other sites More sharing options...
alika Posted July 19, 2016 Report Share Posted July 19, 2016 anyone heard of karatbars? 1 Quote Link to comment Share on other sites More sharing options...
RSTEFAN Posted September 13, 2016 Report Share Posted September 13, 2016 https://www.karatbars.com/index.php?page=home a little on the expensive side but it is excepted world wide it is worth having some ? it might if you travel 2 Quote Link to comment Share on other sites More sharing options...
alika Posted November 2, 2016 Report Share Posted November 2, 2016 yes it is not the most expensive but not the cheapest. its authenticated by top assayers and made in germany 1 Quote Link to comment Share on other sites More sharing options...
alika Posted November 30, 2016 Report Share Posted November 30, 2016 karatbars has i believe its called "worldwide cash gold" which is paper currency with a one tenth of a gram of gold bar in it and theres a actual karatbar bank in asia. so id guess its a new gold backed currency. 2 1 Quote Link to comment Share on other sites More sharing options...
Charlie Echo Posted May 1, 2017 Report Share Posted May 1, 2017 It’s an unfortunate historical anomaly that people think about the paper in their wallets as money. The dollar is, technically, a currency. A currency is a government substitute for money. But gold is money. Now, why do I say that? Historically, many things have been used as money. Cattle have been used as money in many societies, including Roman society. That’s where we get the word “pecuniary” from: the Latin word for a single head of cattle is pecus. Salt has been used as money, also in ancient Rome, and that’s where the word “salary” comes from; the Latin for salt is sal (or salis). The North American Indians used seashells. Cigarettes were used during WWII. So, money is simply a medium of exchange and a store of value. By that definition, almost anything could be used as money, but obviously, some things work better than others; it’s hard to exchange things people don’t want, and some things don’t store value well. Over thousands of years, the precious metals have emerged as the best form of money. Gold and silver both, though primarily gold. There’s nothing magical about gold. It’s just uniquely well suited among the 98 naturally occurring elements for use as money…in the same way aluminum is good for airplanes or uranium is good for nuclear power. There are very good reasons for this, and they are not new reasons. Aristotle defined five reasons why gold is money in the 4th century BCE (which may only have been the first time it was put down on paper). Those five reasons are as valid today as they were then. When I give a speech, I often offer a prize to the audience member who can tell me the five classical reasons gold is the best money. Quickly now—what are they? Can’t recall them? Read on, and this time, burn them into your memory. Money If you can’t define a word precisely, clearly, and quickly, that’s proof you don’t understand what you’re talking about as well as you might. The proper definition of money is as something that functions as a store of value and a medium of exchange. Government fiat currencies can, and currently do, function as money. But they are far from ideal. What, then, are the characteristics of a good money? Aristotle listed them in the 4th century BCE. A good money must be all of the following: Durable: A good money shouldn’t fall apart in your pocket nor evaporate when you aren’t looking. It should be indestructible. This is why we don’t use fruit for money. It can rot, be eaten by insects, and so on. It doesn’t last. Divisible: A good money needs to be convertible into larger and smaller pieces without losing its value, to fit a transaction of any size. This is why we don’t use things like porcelain for money—half a Ming vase isn’t worth much. Consistent: A good money is something that always looks the same, so that it’s easy to recognize, each piece identical to the next. This is why we don’t use things like oil paintings for money; each painting, even by the same artist, of the same size and composed of the same materials is unique. It’s also why we don’t use real estate as money. One piece is always different from another piece. Convenient: A good money packs a lot of value into a small package and is highly portable. This is why we don’t use water for money, as essential as it is—just imagine how much you’d have to deliver to pay for a new house, not to mention all the problems you’d have with the escrow. It’s also why we don’t use other metals like lead, or even copper. The coins would have to be too huge to handle easily to be of sufficient value. Intrinsically valuable: A good money is something many people want or can use. This is critical to money functioning as a means of exchange; even if I’m not a jeweler, I know that someone, somewhere wants gold and will take it in exchange for something else of value to me. This is why we don’t—or shouldn’t—use things like scraps of paper for money, no matter how impressive the inscriptions upon them might be. Actually, there’s a sixth reason Aristotle should have mentioned, but it wasn’t relevant in his age, because nobody would have thought of it…it can’t be created out of thin air. Not even the kings and emperors who clipped and diluted coins would have dared imagine that they could get away with trying to use something essentially worthless as money. These are the reasons why gold is the best money. It’s not a gold bug religion, nor a barbaric superstition. It’s simply common sense. Gold is particularly good for use as money, just as aluminum is particularly good for making aircraft, steel is good for the structures of buildings, uranium is good for fueling nuclear power plants, and paper is good for making books. Not money. If you try to make airplanes out of lead, or money out of paper, you’re in for a crash. That gold is money is simply the result of the market process, seeking optimum means of storing value and making exchanges. 4 Quote Link to comment Share on other sites More sharing options...
Ex-wingnut Posted May 1, 2017 Report Share Posted May 1, 2017 (edited) Money versus Currency https://youtu.be/DyV0OfU3-FU?list=FLwAuScq4BkmSQZqzOL0mqQw Edited May 1, 2017 by Ex-wingnut 2 1 Quote Link to comment Share on other sites More sharing options...
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