*shrug*, whatever, it's practical. I had a conversation along these lines recently. My buddy wants to start buying gold, because "hyper-inflation is just around the corner", and when the shit hits the fan he wants to be ready. I told him, "you don't want gold when the shtf, you want water, food, shelter." Gold is a symbol, it's value is, from a man-as-animal-first perspective, zero. Paper is in fact more useful in a pinch: clothes can be stuffed with it for insulation, and it can be used as tinder.Quote from DAS Trader:
That would be a definition of fiat, albeit one that is lesser used and subsequent to the writing of the Constitution.
Quote from Ricter:
*shrug*, whatever, it's practical. I had a conversation along these lines recently. My buddy wants to start buying gold, because hyper-inflation is just around the corner, and when the shit hits the fan he wants to be ready. I told him, "you don't want gold when the shtf, you want water, food, shelter." Gold is a symbol, it's value is, from a man-as-animal-first perspective, zero. Paper is in fact more useful in a pinch; clothes can be stuffed with it for insulation, and it can be used as tinder.
Quote from Ricter:
*shrug*, whatever, it's practical. I had a conversation along these lines recently. My buddy wants to start buying gold, because "hyper-inflation is just around the corner", and when the shit hits the fan he wants to be ready. I told him, "you don't want gold when the shtf, you want water, food, shelter." Gold is a symbol, it's value is, from a man-as-animal-first perspective, zero. Paper is in fact more useful in a pinch: clothes can be stuffed with it for insulation, and it can be used as tinder.
As long as the guys who grow grain and raise chickens will take your gold in exchange for those when the shtf you'll be ok. But if they'll only take fertilizer and feed for those, you're screwed. I'll give the survivalists credit for this, they know what to accumulate.Quote from rew:
Paper would be a lot more useful it it wasn't smeared with green ink. As for gold, it's primary function is to serve as money. Much more gold is kept in vaults as a store of value than is used in industry.
Whether it's smart to buy gold at current prices is hard for me to say. I bought most of my gold when it was a lot cheaper. But I'm still holding it. None of the reasons I had for buying it have gone away. The deficits have only gotten worse, the structural imbalances have gotten more global. This isn't just an ordinary recession.
Quote from Ricter:
As long as the guys who grow grain and raise chickens will take your gold in exchange for those when the shtf you'll be ok. But if they'll only take fertilizer and feed for those, you're screwed. I'll give the survivalists credit for this, they know what to accumulate.
Yeah, I still want that leathern sack with gold nuggets in it. I wanna toss it on the bar and gruffly shout, "whiskey! and leave the bottle!"Quote from rew:
I will grant that if you believe the wheels are really going to come off the train it would be prudent to lay in a supply of food, guns, and ammo. But it won't hurt to have some gold too.
Quote from DAS Trader:
...Let's face the facts, Iran is a sovereign nation that has never invaded another country. Are they a state sponsor of terrorism? Yes. So is Israel, and so is America. We conduct kidnappings, assassination, bombings, and those are considered terrorist operations.
Now, I realize that is a hard pill to swallow but make no mistake, the United States both supports and commits acts of terrorism. ...
...We apply this label [terrorist] in order to demonize someone defending their homeland. Our foreign policy literally creates these people.
Ask yourself this question, and please answer honestly, if China had its military operating inside the United States, and they launched a drone attack that mistakenly blew up your entire family (except you), how long would it be before you picked up a weapon and started shooting at Chinese soldiers? ...
Quote from DAS Trader:
Regardless of what you say, here's what Article 1 Section 10 actually states:
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
The bold part would, in fact, be a limitation imposed. Fiat money is unconstitutional, as per Article 1 section 10 of the Constitution.
Quote from rew:
So you seriously think the Iranian leadership is going to commit suicide? Because that's what handing nukes out to some rogue element amounts to.
I don't trust anybody with nukes. I do not trust Pakistan. I do not trust India. I do not trust Russia. I do not trust Israel. I do not trust China. I do not trust France or Great Britain. I don't trust my own country with nukes. But we're stuck with them. And no country has ever nuked another country that had nukes, a fact that has not escaped the attention of the Iranians. Yes, Iran owning nukes would take away America's or Israel's option of unilaterally nuking Iran some day, just as Israel having 300 nukes takes away Iran's option of unilaterally nuking Israel. America and Israel would have to live with that.