Seen the commercials looking for your gold?

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NoDrama

Well-Known Member
hanimmal said:
I would like for you to know that I have not taken anything as gospel my entire life, I had a problem early on with this, and the only real difference between then and now is that I know when to shut up so that it doesn't control my livelihood.


It also helps that this was during the industrial revolution, so there was so many things that entered into the equation, that trying to put the reasoning on gold is a far stretch.
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Read about the money multiplier and money creation, its explained fairly well here http://en.wikipedia.org/wiki/Fractional-reserve_banking

Like I said, you have been duped your whole life, don't feel bad 99.9% of Americans have no clue.

Henry Ford said : "It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. "

Now I hate to use utube vids to help my point along, but fact is, banking and the Fed Reserve are hard to understand at first, and it would take litterally 20 pages to explain it all. The Fed reserve link I gave you explains all this also, but i assume you fell asleep trying to decipher what the hell they are saying. Don't worry I read that site when I need to count sheep too.

Videos:

[youtube]nH2-37rTA8U[/youtube]


More here

[youtube]oguCNqCE0Kc[/youtube]



Now I already explained what kind of things make a good money, but gold is the best. You can bury gold in the ground for a million years and its still as good as the day you put it in there, gold never tarnishes or rots. Can you do that with a dollar bill? Is a shredded $100 bill worth anything at all?

The currency you have in your wallet is actually someone elses debt, thats the way our system works.


Hey look a grocery store that takes precious metals for payment. FWIW it is EXTREMELY easy to liquefy gold into cash. Go to your nearest exchange/coin shop/bullion dealer and even some banks and they will give you cash on the spot.
[youtube]5xnIFzP2bTY[/youtube]

Now han you should be thinking to yourself " You know if gold only retains its value, what would gain in value along with gold, but has 4 times the upside potential as gold does? Hint: Argentum is another name for this.


Gold will only become a bubble when all the people who didn't believe in it start buying it. Right now IMO treasuries and the almighty dollar are the bubbles.



A tiny bit of nitric acid ( Easy to get) will tell you if its gold or not, thats where we got the term "Acid Test", which refers to a gold standard test for genuine value. Gold is the least reactive metal of them all, thats why it can survive so much and stay unaffected.
 
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NoDrama

Well-Known Member
I found a great Quote and thought I would share:

[FONT=Arial, Helvetica, sans-serif]"Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves." - Norm Franz[/FONT]
 
hanimmal

hanimmal

Well-Known Member
Read about the money multiplier and money creation, its explained fairly well here http://en.wikipedia.org/wiki/Fractional-reserve_banking

Like I said, you have been duped your whole life, don't feel bad 99.9% of Americans have no clue.
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You are not showing me anything new to me, and everything that you are, is further showing me that I am correct, and your whole basis for 'understanding' of the fractional reserve is way off base. You are an economist correct?

Fractional-reserve banking is the banking practice in which banks keep only a fraction of their deposits in reserve (as cash and other highly liquid assets) and lend out the remainder, while maintaining the simultaneous obligation to redeem all these deposits upon demand.
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First sentence on your wiki page. You continue to not understand that they are only allowed to lend out most of the full amount they keep in deposits! Not that they are able to lend out more than they have in deposits (the deposits only have to be 10%).

You are duped man, you really should take a hit on your pride and really look at this, because it is so damn important to your 'theory'.

And you are wrong!

Here is how it works:



See with what you are saying is that gold is the only thing of value. I say we are the only things that can give value to an object, and in essence we are the only thing of value.

If I take out a loan, I am telling the bank that I will be able to work and pay for it by paying you back a small amount of the total each month until I do. Like it or not, most people do not have the funds to simply buy homes outright and need this to get their homes.

And just spending the money has a multiplier effect too, just nowhere as efficient because a lot gets siphoned away:


But I get why you are afraid because you think it runs like this:


Meaning that money was invented out of thin air. But it is not. The original deposit is what everything is tied to. If there was not a fixed amount lending would never have lasted thousands of years.

If I receive in funds to my bank, I have those funds, pure and simple, to me those were someones money that they lent to me to grow and keep safe. I do that by paying my FDIC insurance and keeping it in safe investments (the shadow banking system did not have to follow this and that is where this collapse started).

This is why the Fed is so damn important. It has very nice tools to somewhat offset what banks can do, up or down. If they want more people opening up businesses they can lower the RR (reserve requirements) and banks will be freed up to lend more, or they can heighten them and this forces banks to lend out less:



This is a nice graph showing this on the wiki page:




This is all very logical and easy to understand, so I am unsure why you continue to deny it, or is it that you just do not want to admit you were wrong?

The gold thing is whatever at this point. This is the pivotal point to you saying gold is the most important thing. But when you can actually see how the system is, hopefully you will realize it is not as scary or evil as you thought.

I would do some more reading on it, I think you got duped.

Boys and girls this is a very good time to point out:

Stop taking your professors teachings as gospel, they can and are very wrong very frequently.
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Although I agree to not just take everything that gets said at face value, you should still listen to your professors and learn what they are saying. Because you may be wrong, and sitting there saying nuh-uh just leads to a lifelong misunderstanding of the facts.
 
londonfog

londonfog

Well-Known Member
Ahhhh the wonderful talk of Gold...Well most people just think of it as pretty shiny stuff thats great for a necklace. Gold is much much more...We all know from chemistry class that it falls in the largest group of elements on the periodic table being a metal. Gold is oxidation resistant,ductile, and electrically conductive. For all these reasons it is used in microchips to connect the actual silicon chip to the plug pins that push into the motherboard of your computer. These pins themselves are often gold plated to enhance connectivity.....It is a malleable metal that (even by your hand) it can be beaten so thin that visible light will pass through it whilst ultraviolet and infrared will not. Very useful for pilots to protect at high altitude from serious sun-burn by the intense solar radiation that is normally filtered out by the atmosphere at sea level....it is coated onto cockpit windows to protect pilots...Gold's chemical resistance has also seen it used for medical applications such as dentistry through-out history..It is one of the easiest of the metals to work with although its not light ( that award would go to MR.Titanium ) it is one the easiest to form and work with.
Because gold is chemically inert and one of the rarer elements on earth it has been used as a means of exchange through-out history..Chemically inert means no corrosion and being rare meant not being in over supply... so it was great for currency ...Oh I could go on and on about Gold and its true value but hey you guys just keep selling it...
 
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