Remember the guy that couldnt sell 1oz of gold for 50 bucks? He's back.

[151]

Quote from riaamaan:

Gold bullion is the byproduct of work done. Is it still not worth anything?

I am not sure. But it seems to me that the labor involved in making the bullion could have been wasted. The gold is still for all practical purposes useless.

But in fact the making of the bullion does make the gold worth more money.

Theory smeary the bullion is worth whatever we can get for it practical or not.

 

[peilthetraveler]

Quote from 151:

I am not sure. But it seems to me that the labor involved in making the bullion could have been wasted. The gold is still for all practical purposes useless.

But in fact the making of the bullion does make the gold worth more money.

Theory smeary the bullion is worth whatever we can get for it practical or not.

Two guys on an island and one woman. 1 guy has gold and can make jewelry out of it. The other guy can only make a corn husk bracelet with his leftover table scraps. Which guy gets the girl do you think?


Now...does gold really have no value?

 

[riaamaan]

Quote from peilthetraveler:

Two guys on an island and one woman. 1 guy has gold and can make jewelry out of it. The other guy can only make a corn husk bracelet with his leftover table scraps. Which guy gets the girl do you think?


Now...does gold really have no value?

Obviously, the worth is situational. If there's a nuclear holocaust and the basics are in short supply, then the basics will carry more value. If on the other hand, people are still trading for their goods, while the fiat's have collapsed, (every single one has), gold and silver are an easy means to lubricate economic activity. It is relatively light, scarce and easy to carry in your pocket. It takes work to produce it, and it has been used before. Do not discount the historical component. Human nature is difficult to change.

It's much easier to carry a half ounce of gold and trade it for sacks of rice, instead of hauling in your sacks of wheat to trade.

 

[Mayhem]

I liked this guy better when he was doing Girls Gone Wild videos.

He sells topless drunk college girls much better than he sells gold.

 

[Anaconda]

Quote from AyeYo:

I disagree. Those people are not, will not be, and never were retail traders. Gold could be $1 or $1,000,000 and they'll never buy a grain of it.

Saying gold has a long way to go because those idiots haven't bought in yet is no different than saying _____ (insert whatever commodity/stock/currency) has a long way to go because those idiots haven't bought in yet. They aren't ever going to buy in. They do not represent retail traders. All they demonstrate is that each member of the American population lives in their own little bubble and doesn't concern themselves with anything that doesn't directly and substantially effect their daily lives.


Unless, of course, you're refering to retail sales demand,as opposed to retail trader speculation. Then I'd agree.

Tell me, are you just bitter because you are getting torn a new ass by shorting gold?

Most of those morons interviewed are invested in the stock market via their 401k and/or IRAs. More than likely, most of them also have a brokerage account to buy stocks. Most of them probably bought a house because real estate is a no-risk guaranteed gain investment, some probably tried to flip.