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

Quote from ElCubano:

Just skimmed it, I am going to save it...good handbook..thanks for posting it.
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I used to work in an office full of Mormons. They are TOTALLY fiscally responsible... They don't even buy RE on leverage... CASH ONLY.. Always a "cushion, just in case"... Too bad Mitt Romney wasn't elected Prez... (they're not ALL bigamists and pedophiles, you know)
 
Quote from aegis:

If some random asshole walked up to you on the street and offered you an ounce of gold for $50, would you really believe it's genuine?

If so, I have a couple of Rolex watches to sell you as well.
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Even after feeling the heft and solidity of the coin a local rich boy didn't know enough to go for it. The presence of the cameraman would clue anybody with an I.Q. of >73 that the guy offering the deal wasn't just a "random asshole" or lunatic and that there was a possibility the coin was bona fide. At 20-to1 value the risk was definitely worth taking. These people simply didn't know anything about Gold.
 
Quote from Hansel H:

Even after feeling the heft and solidity of the coin a local rich boy didn't know enough to go for it. The presence of the cameraman would clue anybody with an I.Q. of >73 that the guy offering the deal wasn't just a "random asshole" or lunatic and that there was a possibility the coin was bona fide. At 20-to1 value the risk was definitely worth taking. These people simply didn't know anything about Gold.
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Well, you don't KNOW the seller wasn't just "funnin'"... wouldn't have actually let a real gold coin go for $50... still, the general populace is ignorant about "all things financial"... by design, of course.
 
Quote from Scataphagos:

Too bad Mitt Romney wasn't elected Prez... (they're not ALL bigamists and pedophiles, you know)
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Yeah, I wonder how he would have handled the job. I knew he wouldn't win though, because of his religion.

And until anyone else speaks up I'll be the resident expert on mormonism. I was one for half my life. I've been in temples (they don't even let all members into temples), been on a mission (Dominican Republic), and worn the funny underwear (two piece, not the union suit). I respect them still, as does ElCubano by the sound of it, but they're not without their flaws. If anything they are NOT unilaterally thrifty with their money.

So, how would my annual 36# of high grade marijuana do as currency?

Or the sex trade? What would you pay for it if you had no woman?
 
Quote from silver914:

Yeah, I wonder how he would have handled the job. I knew he wouldn't win though, because of his religion.

And until anyone else speaks up I'll be the resident expert on mormonism. I was one for half my life. I've been in temples (they don't even let all members into temples), been on a mission (Dominican Republic), and worn the funny underwear (two piece, not the union suit). I respect them still, as does ElCubano by the sound of it, but they're not without their flaws. If anything they are NOT unilaterally thrifty with their money.

So, how would my annual 36# of high grade marijuana do as currency?

Or the sex trade? What would you pay for it if you had no woman?
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You know, as of now I'd be satisfied with a Prez how had even ONE favorable characteristic after having suffered Bush Jr. and now Obama... POTLICKERS BOTH!!
 
Quote from l2tradr:

Ok. To each their own as far as defining "retaining value". Retain means to keep intact. The antonym of the word is to lose. 2/3 or more down in my book means losing, not retaining. Of course it still has some intrinsic value attached to it, like everything else. You can buy a house for 500K at the peak of the market and it's worth 200K at the bottom, does that mean that the house retained it's value? It's a shitty investment either way. Gold is like every other asset class, it fluctuates in value.
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OK I see your point. In your house example, buying a house for 500k and seeing its worth go to 200k would mean it lost value, but still retained some value. Thats what I meant with gold. It will almost always retain some value even after a bubble. But I'll say this again, I'm not buying nor do I own any.

And I am not saying gold is a good or bad investment. I am just saying it will not be worthless any time soon.
 
Quote from indahook:

Will trade .223 or 7.62x39 for cuttings...

:D
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Thanks! I gots plenty, but it reinforces my belief that herbs would be of value. Even if the drug war came to an end. I'd change my last name to Roper.
 
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