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Profile Sarge
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Message 1277765 - Posted: 30 Aug 2012, 20:29:29 UTC - in response to Message 1277581.  

There is no gold in Fort Knox.

What was there is now under the twin towers in New York.

Id still rather ride a Unicorn...coward.


Awww. You'd still be OFF TOPIC, you *&*&^&%&^%&@(*&(*&!!!
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Message 1277819 - Posted: 30 Aug 2012, 22:49:57 UTC

Who owns the gold? Basic and simple question.
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Message 1277840 - Posted: 31 Aug 2012, 0:55:09 UTC - in response to Message 1277819.  

Who owns the gold? Basic and simple question.

Who owns the money in your bank account? You or the Bank?
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Message 1277897 - Posted: 31 Aug 2012, 3:52:25 UTC - in response to Message 1277840.  

Who owns the gold? Basic and simple question.

Who owns the money in your bank account? You or the Bank?

I draw worthless paper. I cannot, at the bank, exchange one dollar for a dollars worth of gold.

Do you understand the concept of Ponzi?

Who owns the gold?
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Message 1277922 - Posted: 31 Aug 2012, 4:38:48 UTC
Last modified: 31 Aug 2012, 4:40:04 UTC

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Message 1277947 - Posted: 31 Aug 2012, 5:44:06 UTC - in response to Message 1277897.  

So, ID, as a hypothetical, if all you had was gold (which you couldn't exchange for paper since it was worthless) and no one wanted your gold (since they might exchange it for paper and that would be worthless), no clothes, no food, no housing, no car, and so on, would you be a happy camper?


Who owns the gold? Basic and simple question.

Who owns the money in your bank account? You or the Bank?

I draw worthless paper. I cannot, at the bank, exchange one dollar for a dollars worth of gold.

Do you understand the concept of Ponzi?

Who owns the gold?

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Message 1277954 - Posted: 31 Aug 2012, 5:56:47 UTC
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Message 1278357 - Posted: 31 Aug 2012, 17:42:39 UTC

So this isn't going to help.....

US to return to "Gold Standard" within 2 years

If that happens, the UK will more than likely have to join.....shame a muppet sold ours cheap!
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Message 1278410 - Posted: 31 Aug 2012, 19:07:45 UTC - in response to Message 1278357.  

The gov't got off the gold and silver standard for a very simple reason. They didn't have enough Gold or silver to cover the value of the money.

Money is valued against other currencies so their really isn't any need to have a standard that fluctuates everytime some idiot starts a war in Iraq
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Message 1278422 - Posted: 31 Aug 2012, 19:32:39 UTC

The conspiracy theory that there is no gold left has been around for many years now. It is being continued by the anarchists that want to bring down society as we know it. And yes we have them here at Seti, even we are not immune!

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Message 1278433 - Posted: 31 Aug 2012, 20:03:17 UTC - in response to Message 1278422.  

There's NO GOLD!!!!! PANICCCC!!!!
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Message 1278436 - Posted: 31 Aug 2012, 20:07:45 UTC

Oh yes there is nah nah, my mum says so, so there! And my dad is bigger than your dad .....

Christopher, it's past your bedtime now up you go!
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Message 1278578 - Posted: 1 Sep 2012, 3:00:48 UTC - in response to Message 1278422.  

The conspiracy theory that there is no gold left has been around for many years now. It is being continued by the anarchists that want to bring down society as we know it. And yes we have them here at Seti, even we are not immune!


The question is, "should it matter?"
Gold is pretty. It is malleable. It has low reactivity. It is a conductor.
For these reasons, it has worth.
Beyond that, it was by the choice of humanity to tie its worth to the worth of other things.
Some say that economies that have relied on paper money always fail. Always.
Is this true?
If so, why?
Part of it, they claim, is due to manipulation by governments.
Again, is this really why?
As it is, how many of us are really carrying paper money around all that often, as opposed to using a debit card, which draws directly from our checking accounts? (With some fees in certain cases.)
OK, so the US and most or all other countries detached from the gold standard in the 70s. Does it matter? Does this really mean they can no longer tell how much your work, or my work, or a loaf of bread is worth, relative to each other?
(Then again, maybe they cannot really tell, when athletes make so much, supposedly because entertainment is worth so much to so many people, 10 to 100 times as much as education, supposedly.)
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Message 1278581 - Posted: 1 Sep 2012, 3:18:10 UTC - in response to Message 1278410.  

The gov't got off the gold and silver standard for a very simple reason. They didn't have enough Gold or silver to cover the value of the money.

Money is valued against other currencies so their really isn't any need to have a standard that fluctuates everytime some idiot starts a war in Iraq



The new gold is oil. That why the price goes up every time and idiot starts a rumor of a war.
[/quote]

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Message 1279162 - Posted: 2 Sep 2012, 8:23:19 UTC
Last modified: 2 Sep 2012, 8:25:40 UTC

As it is, how many of us are really carrying paper money around all that often, as opposed to using a debit card, which draws directly from our checking accounts? (With some fees in certain cases.)

I can't speak for other people, but I never have more than about £20 on me at any one time. Mainly to restrict any loss if I lose it or get mugged. I keep a minimum of money in my debit card current account, again to minimise loss should my card get stolen. I only use the credit card for on-line purchases.

OK, so the US and most or all other countries detached from the gold standard in the 70s. Does it matter? Does this really mean they can no longer tell how much your work, or my work, or a loaf of bread is worth, relative to each other?

I don't know enough to answer that one! Gold Standard

(Then again, maybe they cannot really tell, when athletes make so much, supposedly because entertainment is worth so much to so many people, 10 to 100 times as much as education, supposedly.)

It the perceived value factor, bums on seats, and supply and demand. If a Club won't pay the going rate for a player, another one will. That could make the difference between winning or losing a trophy, and whether a club remains solvent. It is the way it is, sport is not sport any more it is simply big business. Look at the transfer fees in this link! Table of fees Also the top Clubs charge £1000 a year for a season ticket.

10 to 100 times as much as education, supposedly.

That is a good point. Most UK football players are scouted in junior teams at age 7 or 8 upwards, if signed by a major club, their education becomes secondary to their football. Which is way most of them in adulthood cant keep marriages or string more than 1/2 a dozen words together coherently. I believe it's similar in the USA with College footballers "helped through" their courses to keep them at the College.

Actually Platinum and Rhodium are more valuable than gold, but historically gold has been the most easily found and mined valuable metal. So why do people invest in or hoard precious metals in hard times? Again historically because the value always stayed fairly constant whilst paper money floated up and down. That isn't true any more, look at the money the UK lost when after selling 50% of the stock it soared in price. Some people reckon diamonds are a safer bet!
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Message 1279516 - Posted: 3 Sep 2012, 4:35:13 UTC

not helped, asked to not attend is more the line.
Jocks in College class rooms typically slow things down learningwise. They are forever asking questions because they just don't understand the material presented to them.

My former father-in-law was an ROTC commander. He had deals going with the basketball and football teams at the college. The jocks got C's as long as they never graced his classes with their presence.
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Message 1279578 - Posted: 3 Sep 2012, 9:22:10 UTC - in response to Message 1279162.  

Actually Platinum and Rhodium are more valuable than gold


Not so. Gold overtook platinum in value about a year ago. PGM (platinum group metal) prices are currently severely depressed. The current prices of the three metals you mentioned are:

Gold: ±USD1,689/oz
Platinum: ±USD1,541/oz
Rhodium: ±USD1,150/oz

Palladium is currently valued at ±USD631/oz.



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Message 1279586 - Posted: 3 Sep 2012, 10:06:08 UTC

Fair enough, my source was more than a year old. Thanks for the update :-)
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Message 1279797 - Posted: 3 Sep 2012, 22:12:39 UTC - in response to Message 1279162.  

OK, so the US and most or all other countries detached from the gold standard in the 70s. Does it matter? Does this really mean they can no longer tell how much your work, or my work, or a loaf of bread is worth, relative to each other?

I don't know enough to answer that one! Gold Standard


But I do not think you will find the answer to my main question at that site. (If I am wrong, please tell me, I'll go read.it.) WHY is gold assigned the worth it is assigned. beyond its intrinsic worthwhile properties?
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Message 1279966 - Posted: 4 Sep 2012, 12:50:49 UTC - in response to Message 1279797.  



But I do not think you will find the answer to my main question at that site. (If I am wrong, please tell me, I'll go read.it.) WHY is gold assigned the worth it is assigned. beyond its intrinsic worthwhile properties?[/quote]

Id like to know that answer also. Is it bankers who put the value on it?

In many so called primitive cultures they dont use any money. They barter what they raise or grow or create. I would also guess that even now those cultures are far and few between.
[/quote]

Old James
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