Would you buy an ounce of gold for $50? They wouldnt!

number22 · Nov 9, 2009

Quote from AyeYo:

In addition, gold was popular eons before anyone know what industry was. Where did the intrinsic value come from then?

You are foolish here, using gold plated contacts in gps guided missiles will be 100x more accurate and reliable than copper, so they can send it into your house without damage your neighbor's.

they can take your food and guns away from you. ever think about that?

Dude, don't make more fool out yourself. please.

the1 · Nov 9, 2009

Dude, you just gave me a fucking boner

Quote from AyeYo:

Quite the contrary, I think it's an excellent example of how little gold is really worth.

Think about it. What makes gold valuable? People say it has intrinsic value, while currency does not. I beg to different. In a state-of-nature society, gold is useless. It's a shiny, soft, yellow metal, nothing more. At least I can burn my USD's to keep warm.

When the world goes to shit and people just want a meal, who's going to actually pay $1,100/ounce for all that gold you've got?

If you're looking for true SHTF investments:

number22 · Nov 9, 2009

Quote from aegis:

Agricultural commodities will be far more valuable.

Modern day agriculture uses a lot of technology, ever seen gps guided tractors on farmland all day and night?A average 100hp tractor will easily 3 times your car/suv worth.

number22 · Nov 9, 2009

Quote from AyeYo:

Bottom line: answer me this - what gives gold intrinsic value? Don't say it's because it's been used for trading for thousands of years.

Gold is power, whoever owns the gold has the ability to create or destroy a nation. Learn your history.

AyeYo · Nov 9, 2009

Quote from number22:

Gold is power, whoever owns the gold has the ability to create or destroy a nation. Learn your history.

Keep telling yourself that.

plan · Nov 9, 2009

I think it all boils down to how extreme the situation is --

if it really is like nuclear then I think gold is useless. Better to have guns, food, seeds, water, tools ,etc.

However if we just get to world financial meltdown stage then I think gold will be used as a bartering medium.

So basically, it's all relative to how badly the shit hits the fan.

the1 · Nov 9, 2009

He's right on this. Follow history from the Land Between the Two Rivers to Modern Day and Gold rules the show. He who has the most gold will win the most wars and eat the most bread.

Quote from AyeYo:

Keep telling yourself that.

Quote from number22:

<b>Gold is power, whoever owns the gold has the ability to create or destroy a nation. Learn your history. </b>

KINGOFSHORTS · Nov 9, 2009

I would have bit. I know what that coin looks like and feels. But I would have haggled him down

Risk/reward worth it.

Although the folks interviewed seem dumb as a bag of rocks.

Jesus · Nov 9, 2009

Civilizations have rosen and fell and gold still held its value. There is a finite supply and there will always be demand. The only way gold will never be valueable is if humans cease to exist or you are stranded on an island with no way of leaving. Neither will happen in either of our lifetimes.

Funny how people act during a recession. Sh*t will not hit the fan in our lifetime. Even if the US somehow falls, you can sell your gold in another country.

The only situation in which gold will not retain any value is if every single country falls. This has never happened, so do not bet it will in the coming years.

Even if Sh*t does hit the fan, guns and food won't help you. They can't protect you from missiles or nuclear bombs, and if there are riots, you cannot shoot everyone. Investing in illegal guns won't get you any where except jail. The guns that you buy will most likely be outdated and inferior to others by the time we have a real crisis.

AYEYO, you will reflect on your crazy end of days thoughts 20 years from now, and laugh at how crazy it was. Then another recession will come, and you will think the end is coming again.
People like Warren Buffet has made a fortune off people like you. When people think the world is ending, thats when you need to start buying.

AyeYo · Nov 9, 2009

Quote from Jesus:

Civilizations have rosen and fell and gold still held its value. There is a finite supply and there will always be demand. The only way gold will never be valueable is if humans cease to exist or you are stranded on an island with no way of leaving. Neither will happen in either of our lifetimes.

Funny how people act during a recession. Sh*t will not hit the fan in our lifetime. Even if the US somehow falls, you can sell your gold in another country.

The only situation in which gold will not retain any value is if every single country falls. This has never happened, so do not bet it will in the coming years.

Even if Sh*t does hit the fan, guns and food won't help you. They can't protect you from missiles or nuclear bombs, and if there are riots, you cannot shoot everyone. Investing in illegal guns won't get you any where except jail. The guns that you buy will most likely be outdated and inferior to others by the time we have a real crisis.

AYEYO, you will reflect on your crazy end of days thoughts 20 years from now, and laugh at how crazy it was. Then another recession will come, and you will think the end is coming again.
People like Warren Buffet has made a fortune off people like you. When people think the world is ending, thats when you need to start buying.

Do you own physical gold? It's not that easy to sell. When you do sell it, you aren't getting anywhere near spot for it, not a chance.

If there is a big currency melt down and the US is backed into a corner, you won't be selling your gold to anybody, it'll be forcefully taken from you.

I'm not saying the end of the world is coming. I'm saying gold is the next bubble. When everyone and their mother is talking about the price of gold - it's time to sell.