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