MADem
(1000+ posts)
Send PM |
Profile |
Ignore
|
Sat Nov-26-11 02:49 PM
Response to Reply #20 |
| 51. If you're starving on a desert island, and you have a bar of gold and |
|
your buddy has a bar of candy, who has the thing of value?
Gold is only handy because of what it can--in some cases--buy. That's the value of it, that people will exchange it for other things.
|
| -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 |
Printer-friendly format
Email this thread to a friend
Bookmark this thread