Gold - The RWNJ currency

[Captain Oates 911]

A gold plated HDMI cord could beat Newt

the conswervatives have a problem. All the main conservative leaders hate RichGrinch from years ago but the straw chewing farmer evangelical church goers who don't hold with furriner's or black men, think Grinch looks like them. He is real god fearin, let em die conservative.

What is a conservative to do ? Go with the assault rifle, religious whackos, Donald Trump, Sarah, the pizza man, or their real leadership who knows what will and what will not win in the general ?

Its a dilemma for them

They need to hold their nose and go with Romney - and they just can't. They cant - he is a muslim/mormon/jehovah's/cult/north east yankee too - and he is smart and that is NOT wanted round these here parts!

Result - Yo Barry ! and in 2014 when health care comes in, NO COUNTRY has ever reversed that and even the cons admit that, and that is why they need to win.

Life is good right now.

[Dakine10 5,452]

But GOLD is a non earning currency with zero interest rate and zero dividends and no government to help it. It's an orphan. It has as much intrinsic value as Elvis' underpants. Probably less.

I sold a call on it and the sold call is doing well.

I think the Political push behind it, where people buy it in order to affirm their conservative credentials, is bound to cause over valuations. If Barry wins in 2012 then I reckon it will happen again.

So you are basically reaffirming that it's a commodity. It's just doing what commodities do.

What could be debated is how much of it's intrinsic value comes from industrial use, and how much comes from it's historical use as a currency. That is what drives the speculation.

[Captain Oates 911]

So you are basically reaffirming that it's a commodity. It's just doing what commodities do.

What could be debated is how much of it's intrinsic value comes from industrial use, and how much comes from it's historical use as a currency. That is what drives the speculation.

It's industrial use is pretty tiny - unlike silver

It has much demand from India for ornamental use but India is turning down

It's ownership is pretty much discretionary - like owning Elvis' underpants - whereas oil is non discretionary in its main part - because people need to have transport and plastics which they consume rather than keep

So I don't buy currencies much and not at all for the long term, and I prefer commodities which are non discretionary and are consumed once and cannot come back on the market quickly like gold can.

Its shiny and it doesn't rust - but so is my son's head - and neither are a reliable store of anything or truly useful

[Captain Oates 911]

GOLD GOD GUNS !!!

Yet another controversy appears to be brewing around Fox News host Glenn Beck. Some are accusing him of a blatant conflict of interest concerning his frequent on-air promotion of an investment sold by one of his main advertisers: Gold.

For some time Beck critics have cried foul over his relationship with Goldline International, a precious metals vendor that features the TV and radio host's endorsement prominently on their website. Critics charge that Beck is guilty of misleading his audience by often advising them to purchase gold in advance of the potential collapse of the value of the dollar on the world currency market, without disclosing that he is in fact a "paid spokesman" for Goldline. Beck's on-air promotion of gold, which includes advising viewers to construct "fruit cellars" and to rely on a "three G system" of "God, Gold, and Guns" in the event of America's collapse, dates back to his time as a host for CNN Headline News.

Glenn Beck also regularly talks up gold on his nationally syndicated radio show, where he often endorses Goldline during live commercial segments. Additionally, Beck has had the company's CEO on as a guest. Advertisements for Goldline are also featured prominently on Beck's own website, where he recently promoted gold in an audio clip warning of an apocalyptic future:

When the system eventually collapses, and the government comes with guns and confiscates, you know, everything in your home and all your possessions, and then you fight off the raving mad cannibalistic crowds that Ted Turner talked about, don't come crying to me. I told you: get gold.

[spookyturtle 9,466]

It's industrial use is pretty tiny - unlike silver

It has much demand from India for ornamental use but India is turning down

It's ownership is pretty much discretionary - like owning Elvis' underpants - whereas oil is non discretionary in its main part - because people need to have transport and plastics which they consume rather than keep

So I don't buy currencies much and not at all for the long term, and I prefer commodities which are non discretionary and are consumed once and cannot come back on the market quickly like gold can.

Its shiny and it doesn't rust - but so is my son's head - and neither are a reliable store of anything or truly useful

Another brilliant reply from the resident genius.

[Captain Oates 911]

Another brilliant reply from the resident genius.

another brain dead interjection from his opposite

[Dakine10 5,452]

It's industrial use is pretty tiny - unlike silver

It has much demand from India for ornamental use but India is turning down

It's ownership is pretty much discretionary - like owning Elvis' underpants - whereas oil is non discretionary in its main part - because people need to have transport and plastics which they consume rather than keep

So I don't buy currencies much and not at all for the long term, and I prefer commodities which are non discretionary and are consumed once and cannot come back on the market quickly like gold can.

Its shiny and it doesn't rust - but so is my son's head - and neither are a reliable store of anything or truly useful

OK, so it's not a commodity and it's not a currency. Then what is it? A nothing bubble? It's not a partisan thing. It's been going up since before GWB took office. If what you say is true, it's the greatest bubble in history. I'm glad I got in at the bottom.

By the way, jewelry is counted as an industrial use. If you think the "RWNJ's" are paying too much, you should see the markup for the trinkets your wife has.

[Captain Oates 911]

OK, so it's not a commodity and it's not a currency. Then what is it? A nothing bubble? It's not a partisan thing. It's been going up since before GWB took office. If what you say is true, it's the greatest bubble in history. I'm glad I got in at the bottom.

By the way, jewelry is counted as an industrial use. If you think the "RWNJ's" are paying too much, you should see the markup for the trinkets your wife has.

Where you got in doesn't matter because on an opportunity costing basis, you have lost a lot in the last few weeks. I use opportunity costing for everything

My parents bought their house for £2,300 (GBP) - say $4,000, and when my mother went into care, she warned me not to sell it for less than that. So the original cost doesn't matter but our likely gains or losses from any point in time, do.

The big spike in gold took place after the Bush crash of late 2008 and when that black man got into the white house and the cannibals were reputed to be coming for your wife and your guns and your bible.

It is rare, but so are real blondes in Haarlem. It is shiny but so what.

Cash money has been a great investment for the last few years because you can take that 2008 money and go buy twice the number of houses in las vegas that you could have done then.

Of course gold has gone up more, but a quick look at the screen tells us that can be gone in a couple of hours, whereas at least cash money moves quite slowly against the things we usually buy (houses/cars/sex/power) and so we have time to adjust

I always buy my wife fake or cheap jewelry. I tell her she has a 'jewel citizen' and that should be enough

[mawilson 2,133]

You don't get it, Alan - the US debt crisis is unfixable. No-one can fix it. I can just

about promise you that the government debt will never be fully repaid, or even reduced.

To do this, the US government would have to raise taxes on everyone and severely cut federal

programs, and there's just no practical political way to do it - politicians here would

lose elections if they actually faced this reality, so the US government debt will just

keep growing and growing until one day the entire system collapses under its own weight.

When that happens (and it's not a question of "if" but "when"), your paper money won't be

worth the paper it's printed on.

[Dakine10 5,452]

Where you got in doesn't matter because on an opportunity costing basis, you have lost a lot in the last few weeks. I use opportunity costing for everything

Or I have gained a lot in the last few years. Depends how you look at it. Just because you do it that way doesn't mean everyone has to.

Cash money has been a great investment for the last few years because you can take that 2008 money and go buy twice the number of houses in las vegas that you could have done then.

Cash isn't worth more. Houses are worth less. We've been through this already.

Of course gold has gone up more, but a quick look at the screen tells us that can be gone in a couple of hours, whereas at least cash money moves quite slowly against the things we usually buy (houses/cars/sex/power) and so we have time to adjust

Well again, I think you're talking about stocks and futures. Discounting fluctuations in the dollar, physical gold will only rise and fall as fast as people can buy or sell it. You can book a price for physical gold online in 5 minutes without talking to anyone. You can buy or sell it as fast as you need to.

I always buy my wife fake or cheap jewelry. I tell her she has a 'jewel citizen' and that should be enough

She's a lucky woman!

[Dakine10 5,452]

Actually Alan, gold shot up by about $100 an ounce after you started this thread. Anyone who ran out and sold their gold after your first post would have lost money. I'm a little curious as to why you only bump it when gold starts falling.

[웃 910]

You don't get it, Alan - the US debt crisis is unfixable. No-one can fix it. I can just

about promise you that the government debt will never be fully repaid, or even reduced.

To do this, the US government would have to raise taxes on everyone and severely cut federal

programs, and there's just no practical political way to do it - politicians here would

lose elections if they actually faced this reality, so the US government debt will just

keep growing and growing until one day the entire system collapses under its own weight.

When that happens (and it's not a question of "if" but "when"), your paper money won't be

worth the paper it's printed on.

Assuming we only run surpluses or at least minimal deficits we can do this simple plan:

Daily payment on the debt = $1 billion

$365 billion a year

$3.65 trillion in 10 years.

So assuming we don't run any more deficits and stick to this plan we can actually pay off our current $15 trillion debt in about 40 years!

[mawilson 2,133]

Actually Alan, gold shot up by about $100 an ounce after you started this thread. Anyone who ran out and sold their gold after your first post would have lost money. I'm a little curious as to why you only bump it when gold starts falling.

Hence

Seems like a good buy.

[Dakine10 5,452]

Assuming we only run surpluses or at least minimal deficits we can do this simple plan:

Daily payment on the debt = $1 billion

$365 billion a year

$3.65 trillion in 10 years.

So assuming we don't run any more deficits and stick to this plan we can actually pay off our current $15 trillion debt in about 40 years!

At the moment, $1 billion a day is enough to almost cover the interest for a year. We'd have to make it a little over 2 billion a day at the beginning for your plan to work. That number could decrease over time. By year 35 it could be down to $1 billion a day.

We could also get a lump sum reduction if we catch a leprechaun and use that money towards the debt. Since any talk of debt reduction is all a fairy tale anyway, I thought I would just throw that out there.

Hence

True. I agree with what you posted. I suppose I tend to reply more when I disagree.

[mawilson 2,133]

Assuming we only run surpluses or at least minimal deficits we can do this simple plan:

...

So assuming we don't run any more deficits and stick to this plan we can actually pay off our current $15 trillion debt in about 40 years!

That's a lot of assumptions, my friend.