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33735 No.33735[DELETED]  [Reply] [Original]

Reminder that all your fiat is worth shit in the end.

>> No.33753

and if gold wasn't shiny we would care about it either

>> No.33771

>>33735

I can't wait until we start asteroid mining.

It's only a matter (matter, haha) of time before all "precious" metals are not so precious anymore.

>> No.33780

>>33753
shiny AND doesn't corrode

>> No.33783

so is any currency based on precious metals
Paultards go home

>> No.33784

>>33753

I hope you are trolling, if you are not I am sure many people will explain why this is wrong.

>> No.33789
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33789

>>33753

>> No.33809

damn, i want buy gold so bad.

>> No.33806

>>33783
Care to tell me which currencies in the world aren't fiat?

>> No.33823

My dad actually gave me some old gold coins but I don't know how to sell them. Seems like a huge hassle but I really could use the money

>> No.33824
File: 219 KB, 512x284, 1392443352996.gif [View same] [iqdb] [saucenao] [google]
33824

>tfw just bought a pound of silver
Am I guaranteed post-happening royalty /biz/?

>> No.33826

>>33806
goats

>> No.33843

>>33826
but anon, that is an animal

>> No.33860

>>33823

Cash4Gold

www.cash4gold.com

>> No.33866

but gold isnt worth anything either.

what can you actually do with gold?

its just a random item that people decided to arbitrarily assign worth to

>> No.33867

>>33843
Yes, but I figure that the distance between a goat and a currency is smaller than the distance between any currency anyone can name and non-fiatness.

>> No.33863

>2014
>owning anything other than Rhodium, Rhenium, platinum, palladium, hafnium, iridium, or indium

>> No.33865

>>33771
by that point it wont matter

>> No.33879

>>33780
technically neither does btc

>> No.33872

>>33866

chemistry and materials science.

>> No.33875

Your all poor niggers lol xD

>> No.33899

>>33879
gold is real though

>> No.33889

>>33806

kilograms of heroin

>> No.33887

>>33860
More like 5%OfTheValueInCash4Gold

>> No.33903

>>33879

PROTIP:

Silicon does.

thats why they put it inside epoxy resin (did you really think ur microchips were black?) or coated in an passivation layer

>> No.33915

>>33899

>gold

>a shit catalyst

the only thing gold is useful for is aerospace/space technology.

>> No.33909

>>33806
Cigarettes. Prisoners use real money

>> No.33925

>>33909

this

1) be incarcerated
2) need drugs/protection from rape
3) call family member/girl friend
4) family member/girl friend drives to the grocery store
5) western union/moneypak
6) ????
7) NO MORE ANAL RAPE!

>> No.33919

>>33866
This is always the thing I don't get about the survivalist-types who buy gold. What's it going to do for you if the dollar collapses? Let you become a jeweler?

Buying paper gold I can understand - hedge against inflation, yadda yadda. But any crisis bad enough for physical gold to become the currency is bad enough that you should've just bought guns.

>> No.33920

>>33889

Cha ching.

that is very true, except its controlled by govt.

>> No.33943

>>33920

>controlled by government

dollar value of kilogram of heroin == f(degree of interdiction of governments)

eg: the more involvment by governments, the more expensive the drugs


in other words:

the governments control it 2nd hand.

by getting involved, they increase the value.

by getting *more* involved, they further increase the value


end comment:

Thank you government, for making my illegal drugs so expensive!

>> No.33951

>>33735
Reminder that gold is only worth anything because OH LOOK, LOOK AT THE SHINY METAL, ISN'T IT LOVELY?!

>> No.33955

>>33919
typical those people are not very clever anyway.

it makes more sense to use canned food for trading

>> No.33965

>>33951

no but srsly its also sometimes used in STEM for various reasons.

though your implied point:

"the value of gold is dominated by arbitrary social and cultural customs"

is still true


these:

>>33863

are *only* valuable because they have industrial or scientific value

>> No.33985

>>33951
I hate gold, but it's not just shiny.
-chemically inert
-rare

See http://www.npr.org/blogs/money/2011/02/07/131363098/the-tuesday-podcast-why-gold

>> No.33978

Can someone please explain why gold and silver are so highly coveted? They're literally just shiny rocks. If anything, commodities should be valued more because they're actually useful. If/when there's a nuclear apocalypse, nobody is going to care about some useless rocks. What's the point in gold?

>> No.33979

>>33965
well that's the thread

>> No.33993

>>33965
>are *only* valuable because they have industrial or scientific value
they're valuable because they are noble metals, i.e. rare and unreactive. same reason gold and silver are hold value

>> No.33990

>>33771

>Caring about relative wealth post scarcity.

You are clearly some form of scum.

>> No.34006

>>33965
In the end, value itself is completely subjective and in many cases arbitrary. Fiat works, because we can artificially moderate monetary policy in such a way that's advantageous to the country in control of the monetary policy.

This goes ass up when the agency tasked with the responsibility of the monetary policy becomes corrupt.

Remember guys, this isn't /pol/ conspiratards can fuck off.

>> No.34030

>>33824

No, but that amount will probably buy you a knighthood.

1000+ oz makes you a duke (maybe an archduke). 10,000+ makes you a king.

>> No.34046

>>34006

Again:

Rhodium, Rhenium, platinum, palladium, hafnium, iridium, or indium

Rhodium: fundamental component of "super alloys" which are the materials that are used to manufacture turbine blades.

PROTIP: turbine blades == power plants, not just airplanes (NOTE: all power plants except for photovoltaic power plants, including nuclear power plants)

platinum:

look inside of your catalytic converter. now multiply that by a billion to account for the fact that they put these inside of coal, natural gas, nuclear, etc. power plants, chemical refineries, etc.

palladium: catalyst. look inside a chemical factory

hafnium: literally every single microchip inside of your computer

indium: you are staring right at it. Indium Tin Oxide, ITO, the clear (transparent) cathode that sits behind the layer of your LCD or OLED display.

>> No.34067

>>33985

>chemically inert

my aqua regia, when

>> No.34082

>>33993

1) noble metals arent "rare"

in fact "rare earth" does not mean: "natural abundance is low"

2) "rare" or "rare earth" means: "expensive to smelt"

>> No.34083

>>33919

>Buying paper from the people who brought you Cyprus and MF Global.

Nigger, you are somewhere past full retard.

Gold is for transferring your wealth between monetary domains. The world won't end if the dollar collapses. People will just stop trusting central banks and banks in general. This will push wealth into gold, silver, and perhaps cryptocurrencies. None of these require trust in anything but basic human nature.

>> No.34079

>>33978
both gold and silver are useful in machines

e.g. gold plate connectors on cables, gold used in CPU pins, silver used in some thermal paste because it is good at transferring heat, etc.

>> No.34076

>>34046
That's all well and good and stuff, but why would you base a monetary system off of a usable commodity? All those useful things will then became incredibly expensive, because they'll become valuable in themselves due to all the materials used.

Let's just keep the fiat and instead find more responsible bankers?

>> No.34092

>>34076

they are valuable

many/most of the things listed are more valuable than gold you fucking moron

like $10,000+ per troy ounce

>> No.34109

>>34083

>the world won't end if the dollar collapses

if by that you mean that "the human species wont end" I agree

if, on the other hand, you mean "some semblance of daily life wont end"

I disagree


if the dollar collpses, world war III-VII will occur simultaneously


that is actually true of several of the world's major currencies

shit, if the pound sterling collapsed, shit would hit the fan and it would be near Walking Dead anarchy.

>> No.34108

>>34046

Good money doesn't hurt the economy when it is hoarded. What good is something that can be made into wind turbines when it is sitting in someone's vault? This is why gold will dominate the next century. It isn't very useful, but it is still rare, durable, divisible, etc.

>yfw hardly anyone on /biz/ even knows what money is, much less what makes something good money

>> No.34128

>>34108
>What good is something that can be made into wind turbines when it is sitting in someone's vault?

>wind turbine

>implying I said wind turbines

do you want a power plant?

by which I mean: do you want electricity?

do you want to be able to turn your fucking lights on? let alone your computer?


then you have to build a power plant.


oh wait... you dont have rhenium?

sorry. cant do it.

>> No.34153

>>34109

Not really, but you are entitled to your opinion. The replacement for the dollar is already being moved into place. Yuan swap facilities have been opened with pretty much every major nation on Earth except the US. We will get a gold backed petroyuan when the dollar collapses, and business will proceed as usual, but with America being much poorer, something reflective of its de-industrialized state.

Sure, there will be upheaval. But it won't be as bad as WWII was by any means. Probably won't even be any nukes flying.

>> No.34172

last BTC investment, I went in conservatively with a 3 coin purchase and made about $500 profit

this time I'm 10 coins in at $670 average. Kinda wanting this mt gox bullshit to blow over so this coin can hit up that $800 spot once again.

I missing the big boom...always thought BTC was a scam until I did some independent research. Now I'm all about it. Speculation for now, permanent investment later.

>> No.34183

>>33735
how you going to order dragon dildos online with gold?

>> No.34191

>>34082
cool but "rare earth metals" and "noble metals" refer to completely different things

>> No.34238

>>34153

>yuan
>replacement for dollar

my government controlled exchange rate, when

>> No.34271

Gold is just shiny metal.
Deal with it

>> No.34268

>>34191

there are at least 2-3 classes:

rare earths

noble metals

"platinum group metals"

platinum group metals being the metals that form square planar complexes when oxidized

>> No.34295

>>34238

>Thinking the Yuan will always be pegged to the dollar.
>Thinking the Chinese are buying literally all the gold in the world without plans to peg their currency to it

>> No.34305

>>34153
>gold backed petroyuan

That's really funny, thanks! Exactly when do you think (a) the yuan will be freely exchanged on world markets and (b) the Chinese economy will have any degree of real transparency? Also, why do you think the Chinese will bother backing their "petroyuan" with anything, as there are no advantages to doing so?

>> No.34329

>>34271

That's what makes it good money.

Dollars would be good money if the Fed weren't printing them like a demented Leonardo DiCaprio character. They have ZERO use in industry.

>> No.34331

>>33735
>implying anything is really fiat

All governments have an interest in maintaining the value of their currency, if it drops lower than their target then they'll start propping it up by selling the bonds/gold being held in the central bank.

Everyone knows this happens, you might not be able to walk up to a desk and demand the banks assets, but the backing appears when its needed.

>> No.34353

>>33771

Unexpected pun followed by worthy faggotry. 10/10 would laugh again.

>> No.34367

>>34305

There are lots of advantages, namely that that means there will be no need to trust their central bankers. Remember, this is AFTER central banking has been revealed and universally reviled as a marxist scam.

The Yuan is freely traded now. The only repression of the Yuan takes place inside Chinese borders, where foreign currencies are confiscated and replaced with printed Yuan. This makes their goods temporarily cheaper, while giving their government the ability to buy gold around the world AND provides fuel for Yuan swap facilities. Transparency isn't needed. You think the dollar is transparent? You're an idiot if you think it is.

>> No.34533

>>34367

>there will be no need to trust their central bankers.

The Chinese government owns their central bank/central bankers yet cannot trust it? LOL.

>this is AFTER central banking has been revealed and universally reviled as a marxist scam.

In other words, never. You've no idea what you're talking about, but at least you're original.

>The Yuan is freely traded now.

Is it? China isn't managing forex rates at all? Really?

>Transparency isn't needed.

Yes, trust and accurate economic statistics have nothing to do with exchange rates.

>You think the dollar is transparent? You're an idiot if you think it is.

Then call me an idiot. It's a hell of a lot more transparent than the yuan. Can you name any other currency that's more transparent?

>> No.34558

>>33735
In 1640 in the dutch republic an oz of gold bought a fine mens suit.

In 2014 in Manhattan an oz of gold will buy you....A fine mens suit. Gold is a hedge against government stupidity. Thats it. Fiat currencies are worth the commodities that can be acquired with them.

>> No.34563

Im backing my newly coined "fiat" currency by PS4's and Xbox One's

In a few years we'll all see who's laughing.

>> No.34591

>>33993
Silver's pretty reactive m8

PMs shouldn't be used as circulating coinage because it's so easy to debase the coins.

>> No.34595
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34595

>>33735

In the end everything is worth shit. Even your mother's love, or holding your firstborn child for the first time. All you do in life is ultimately for nothing. But I bet if someone handed you a dufflebag full of 100 dollar bills, you wouldn't turn that shit down, because of it's lack of worth.

>> No.34602

>>34558
>The price of gold doesn't fluctuate over time
Oh man, you're a real piece of work.

>> No.34685

>>33783
>currency
>precious metals
Pick one.
If it had any precious metal then it would be called money.

>> No.34705

>>34685
You're argument is flawed as it is clearly neglecting unobtanium

>> No.34727

>>34595
lel9gag

>> No.35365

>>34558
Can i get a citation on these "ounce of gold = one medieval tuxedo" thing?
Also, why from Dutch to New York? Isn't stuff valued differently based on position? For instance, you can probably buy ten fine men's suit with an ounce of gold in 3rd world countries.
Also, why is it a country vs a city? Im pretty sure even in 1640 Dutch, price of fine men's suit differs in each city.

>> No.35535

>>35365

As you know, you're not going to get a response to a single one of your questions -- they all make too much sense. On internet investment threads there's a golden rule that you very much can live by -- 99% of people bitching about "fiat currencies" and/or referring to gold as anything but a normal, everyday asset class are tin-foil hat league conspiracy freaks who wouldn't recognize common sense if it stood up and farted in their faces.

>> No.35692

>>35535
>>35365
"The stocks of gold, silver, and platinum mining companies provide much of the same diversification benefits as commodities futures. I am less enthusiastic about them now than I was a few years ago for two reasons. First, my old favorite in this area, the Vanguard Precious Metals and Mining Fund, has broadened its charter to invest in companies that mine base metals (mainly aluminum, copper, and lead) and other natural resources, and this significantly decreases its diversification value. Second, gold and gold stocks have also become an asset class du jour, with high recent returns and a good deal of publicity. Unless you are going on the lam, buying gold bullion itself, gold coins, or an ETF that invests in them, is rarely a good idea. The long-term, real return of the yellow metal itself is zero—an ounce of it bought a fine men’s suit in Shakespeare’s time, and still does today. In addition, gold yields no dividend and incurs storage costs"

-William Bernstein

The refrain of gold is that over time, long periods of time which may be larger than a financial lifetime, it has kept pace with inflation.

That is, that an ounce of gold in roman times bought a nice suit, and today, an ounce of gold buys a nice suit.

http://www.businesswire.com/news/home/20110819005774/en/History-Shows-Price-Ounce-Gold-Equals-Price#.UwBM7vldXF8

As always, it depends where you shop, i merely used the dutch republic as the 17th century standard vs manhattan as the 21st

>> No.35983

>>35692
>blah blah blah -William Bernstein

This contradicts my point (gold should be treated like a normal, everyday asset class, i.e. there's nothing inherently special about it) exactly how?

>http://www.businesswire.com/news/home/20110819005774/en/History-Shows-Price-Ounce-Gold-Equals-Price#.UwBM7vldXF8

It's an interesting story, but (as the other anon) pointed out "one oz. gold = 1 fine suit" relies on way too many subjective judgements and unreliable data and so really proves nothing. If you're really going to make a case here you need to prove an "apples to apples" comparison.

>> No.36153

>>35983
I merely replied to you because you said there would not be an answer. In which you were wrong

>> No.36425

>>34595
20+14 doesn't know about metric tensors and how to get out of this dimension/universe

>> No.36582

>>33771
>$10K to lift one pound of cargo into orbit
>way more to reach distance from an asteroid
>only a matter of time
Get a load of this faggot.
You forgot your trip, Kurzweil.

>> No.36595

gold to $5k

>> No.36610

>>33823
Look for the nearest coin shop.
http://www.pngdealers.org/find-a-png-dealer

>> No.36622

>>33863
I find the lack of osmium in your list disturbing.

>> No.36670

>>33990
>post scarcity
You are clearly some form of economist.
It is not possible to use infinite amounts of energy because part of it always becomes waste heat.
And compounded growth is a bitch. In a few thousand years, mankind would be occupying the whole universe... then what?

>> No.36765

>>34602
It fluctuates, but rarely it drops to zero.
At it doesn't depend on a counterparty to keep at least some value.
Governments fall, companies go bankrupt.
Gold can be stored outside of the financial system.
Now, you will not go full retard with gold. When the Western Roman Empire collapsed, gold and silver coins became worthless for a couple of centuries; there was no commerce. When society collapses around you, you want food and water.
Gold is useful in situations like >>34083 cited. You can have, say, 10% of your assets in gold as insurance and pray that it never works.

>> No.36794

>>36670
>The whole universe

That's not even physically possible.

>> No.36821

>>36794
I know. My point is, even if you take into account only the weight of humans, and convert all the universe mass into them, you still would have only a couple of thousand of years, at a 2% per year compounded growth.

>> No.36934

>>33915
I just read that as

>best applications for gold are in Gloriously ascended tier of all STEM fields