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Reply #1: It's really just tungsten bars from China [View All]

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slackmaster Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Nov-25-11 02:28 PM
Response to Original message
1. It's really just tungsten bars from China
With a little gold leaf on them.
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  -Chavez says gold being flown back to Venezuela Judi Lynn  Nov-25-11 02:27 PM   #0 
  - It's really just tungsten bars from China  slackmaster   Nov-25-11 02:28 PM   #1 
  - Prudent. Although I wonder why it was ever in Europe or the U.S.  harun   Nov-25-11 02:32 PM   #2 
  - Virtually all countries store their gold in the U.S. and Europe.  former9thward   Nov-25-11 04:52 PM   #14 
  - If you thought you were actually going to buy or sell some  muriel_volestrangler   Nov-25-11 07:19 PM   #24 
  - I guess I don't see how this protects Venezuela...  Ohio Joe   Nov-25-11 02:33 PM   #3 
  - Because gold has real value.  Dutchmaster   Nov-25-11 02:48 PM   #4 
  - It is also why people buy gold. He is smart to bring the gold home  jwirr   Nov-25-11 02:55 PM   #5 
  - It was a defensive measure due to the Iran sanction threats.  joshcryer   Nov-25-11 09:42 PM   #32 
  - So they don't have that wealth if it is stored somewhere outside their country?  Ohio Joe   Nov-25-11 03:01 PM   #6 
  - Because gold has real value...  Charronxyz   Nov-25-11 03:20 PM   #8 
  - gold has no real value. It is as imaginary as paper.  provis99   Nov-25-11 05:39 PM   #18 
     - Deleted sub-thread  Name removed   Nov-25-11 06:41 PM   #21 
     - Great point. nm  rhett o rick   Nov-26-11 02:24 PM   #47 
  - It makes a big difference on where it is stored  Tempest   Nov-25-11 03:21 PM   #9 
  - ahhh, That makes sense  Ohio Joe   Nov-25-11 03:29 PM   #10 
  - Hit the nail on the head. Nt  Arctic Dave   Nov-25-11 03:49 PM   #11 
  - Yep, happened around the same time as the Iran sanctions threats.  joshcryer   Nov-25-11 09:44 PM   #33 
  - And if the US  christx30   Nov-27-11 06:53 PM   #61 
  - The gold at Fort Knox is gone...  Charronxyz   Nov-25-11 03:14 PM   #7 
  - THIS IS SERIES!!!111!!! CALL CONGRESS RIGHT FUCKING NOW!!@2!111!!!  Brother Buzz   Nov-25-11 03:53 PM   #12 
  - But cant our government make owning gold illegal? I think FDR might have done that.  rhett o rick   Nov-25-11 04:53 PM   #15 
  - He did but FDR broke the law  Ter   Nov-26-11 11:45 AM   #43 
     - That's my point exactly. A president can and has forced people  rhett o rick   Nov-26-11 02:24 PM   #46 
  - No, actually gold has NO real value. It's just as arbitrary as a paper dollar.  TheWraith   Nov-25-11 05:17 PM   #16 
  - "value is strictly a result of thousands of years of obsession with something scarce and pretty. "  Dutchmaster   Nov-25-11 06:07 PM   #20 
  - This is exactly what i was going to post.  SnakeEyes   Nov-25-11 06:44 PM   #22 
  - No, you just imagine that what I said somehow validates your point.  TheWraith   Nov-25-11 07:45 PM   #26 
  - If you're starving on a desert island, and you have a bar of gold and  MADem   Nov-26-11 02:49 PM   #51 
  - but you contradict yourself. we value numbers in a computer just as much.  Tunkamerica   Nov-27-11 04:07 AM   #54 
  - You can't wear it? Odd, I see people wearing gold all the time...  Thor_MN   Nov-26-11 10:31 AM   #41 
     - No, my point is that it's value is entirely mental, NOT objective.  TheWraith   Nov-26-11 12:30 PM   #44 
        - I am agreeing with you only to see how strong your heart is.  rhett o rick   Nov-26-11 02:32 PM   #48 
        - And my point is that unless society is reduced to hand to mouth, your point is moot.  Thor_MN   Nov-26-11 02:36 PM   #50 
  - gold is a phony as paper dollars. It only has fiat value.  provis99   Nov-25-11 05:39 PM   #17 
  - "fiat"... you keep using that word  SnakeEyes   Nov-25-11 06:45 PM   #23 
     - Deleted message  Name removed   Nov-25-11 07:40 PM   #25 
     - Given that the person you're replying to is an ECONOMIST...  TheWraith   Nov-26-11 12:31 PM   #45 
  - Our reserves aren't stored in Knox, they're stored in the NY Federal Reserve.  joshcryer   Nov-25-11 09:40 PM   #31 
  - They're actually stored in both,.  boppers   Nov-26-11 09:51 PM   #53 
     - That Manhattan figure includes other countries' reserves too  muriel_volestrangler   Nov-27-11 06:34 AM   #56 
  - Real wealth? Please  northzax   Nov-27-11 11:15 AM   #59 
  - How? By not letting a band of mercenaries to start a "rebellion",  Fool Count   Nov-25-11 04:14 PM   #13 
  - The costs to store it on their own will likely be decades of fees that the reserve here charges.  joshcryer   Nov-25-11 09:38 PM   #30 
  - Because fear of fraud and/or theft  Demeter   Nov-26-11 08:10 AM   #36 
  - On a different note than all the rest of the posters  Broderick   Nov-25-11 05:47 PM   #19 
  - On the other hand, if it doesn't arrive  Demeter   Nov-26-11 08:13 AM   #37 
  - something....  unkachuck   Nov-25-11 08:22 PM   #27 
  - Yes, but you don't break off chunks of a nation's gold reserve to buy stuff.  Robb   Nov-25-11 08:54 PM   #28 
     - Hugo Chavez has explicitly stated...  clixtox   Nov-25-11 09:17 PM   #29 
        - DU's CIA moles notwithstanding, who is going to finance anyone with inaccessible collateral?  Robb   Nov-25-11 10:34 PM   #34 
           - Who makes huge loans to sovereign nations without collateral?  clixtox   Nov-26-11 06:18 AM   #35 
           - Chavez doesn't NEED "Financing"  Demeter   Nov-26-11 08:17 AM   #38 
              - LOL OK. nt  Robb   Nov-26-11 08:29 AM   #39 
              - Chavez has borrowed $32 billion from China. nt  hack89   Nov-26-11 08:38 AM   #40 
                 - Yes - that's for social programs  dipsydoodle   Nov-27-11 04:19 AM   #55 
                    - No, that's for oil investment projects with CNPC  ChangoLoa   Nov-27-11 09:53 AM   #57 
                       - there were two lots of thirty  dipsydoodle   Nov-27-11 10:53 AM   #58 
  - Gold and land ownership indeed have real world value  Harmony Blue   Nov-26-11 11:37 AM   #42 
  - However, either can be easily taken from you by the government. nm  rhett o rick   Nov-26-11 02:33 PM   #49 
     - And what can't be? Your bank accounts? Maybe your pension?  Fool Count   Nov-27-11 06:16 PM   #60 
  - Surprised this wasn't done in 2002.  David__77   Nov-26-11 09:25 PM   #52 

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