Gold Standard

I’ve still never understood the gold meme. Everytime I ask “why is gold safe?” I get the same answer. “Gold always has value and keeps the same value”. Then future questions like “but the price fluctuates, but people don’t actually use or eat gold, but what’s the difference between diamond which is much harder and gold?” I get the same answer, “it just is”. Can any Jow Forumsness men help a brainlet out? Why is gold safe?

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gold doesnt rust

Pric fluctuates due to the value of the currency you compare it to fluctuating. Gold and silver prices are dropping right now because the dollar is getting stronger. People do eat gold, and they use it in electronics and jewelry. Gold is better than diamonds because gold is an element and can't be created or destroyed without using massive amounts of energy. Diamonds are made of carbon and can be made synthetically.

this man right here, gold has an actual use..

what about Bitcoin? what value or use has bitcoin?

none.

Is APMEX good for buying Gold and Silver bars?

What is the best site which gives you the most reasonable offers...I've seen sites listing 5oz of Silver at 130euros lol

100 years ago for an ounce of gold you got a very nice suit

thats still the case.. try buying things with money from 100 years ago, you will not get very much..

Most EU vassal states charge VAT on Silver but not on Gold. Burgers do not have this problem.

it's a dumb boomer meme

Why is price important? The more accurately we can price things the more efficiently we can allocate resources
How do we find value, we price things relative to other things.
Everything is degrading relative to gold which makes it the value datum
It is the only way to measure price over time
When you measure things in gold you see that determinism does not exclude markets as we many have been deceived

Do you understand what the concept of a "store of value" is? The characteristics of gold make it ideal for this purpose, and every human society in history that ever encountered it used it for that.

gold because reptillion chads are making spaceships

You think real estate has gone up because you are pricing it in inflationary money
Pic related is the reality

The perception of real estate being an investment is one of the best ways of making a man work his whole life.

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Buy gold at 600 you are welcome

gold is gay and people love gay shit

Besides people just putting gold foil on wedding cakes, an increasing amount of people are ingesting colloidal gold for medical reasons.

fine then. If you started a business / industry instead of gold/real state you would've be waaay wealthier

you got your shit upside down, it was actually the EU that got rid of gold VAT to strenghen the gold market in Europe. that was shortly before the Euro was introduced, that is backed by 11.000 tons of gold

not saying I like the EU but they got that one right. we have the best and most open physical gold market ever now.

that claim isn't incorrect

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i know, but we are on planet earth, gold is rare here. there are also theorys about parallel universes, that means trillions of bitcoins could exist

hmm...

can I buy stock in baddragon.com?

this is an idea.

unless your business went tits up

You dont understand what im saying
Gold is the only thing that is not an investment it is money
You dont have to own gold but you have to measure value by it

Calculate the ounce/hour of your first job compared to now, or rent or petrol. You dont know what the value of those things have done if you measure them in fiat

yes i understand, im just saying investing into things that produce value is better than hoarding a shiny metal. Yes there is more risk involved but also greater reward AND you're actually contributing something to society

100 years ago was 2018. The 20s were coming it was the golden age of business

1918*

Haha. "I listened to a 5 minute youtube video now I'm smart".
Gold is just another shiny rock. It doesn't have any cosmic significance. If has a few properties that make it useful as money. That's all.
It's been around for thousands of years?
So has horse riding.
When was the last time your rode a horse to work?

yes, and during the 20s and 30s do you remember the big event that happened?

It's scarce (you must spend energy to mine it) and unaffected by the passage of time (does not corrode or degrade). If you really want to get it want these a couple times. It will sink in.

youtu.be/DVIjDJx7KkU

youtu.be/V3_aUVmbyXk

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Boomers experienced a "crash."
Nothing compared to today's crypto crash though. Boomers are pussies.

yes, i also remember Gold getting confiscated by the govt

so, just like BTC? only BTC doesnt weight and you can teleport it across the world, so that makes it even better

Not a goldbug, but tell me if this makes some sense to you.

Nobody knows what will be safe in the future, that would need a crystal ball. However, gold has proven a good track record of not going to 0 over a really long time. It's sensible to have some faith it will have some value tomorrow and the next day... until it doesn't or the death of the Universe. Over other physical things it has other important physical properties, as seen on first post. As value against itself, a kind of gold is always worth the same amount of the same kind of gold. So value is a bit completely intrinsic, for gold or turds, but when you try to measure it's tricky, because to decide what's a "fair exchange" you have to compare it to the value of something else and why would a gold bar be more valuable than an apple? Well, if you trade a gold bar for an apple, you've both provided liquidity to each other, you both got what you wanted and you're both suckers.

To your question, is gold safe? It won't go to zero, it can be overvalued or undervalued right now, but at some point it's a good opportunity to aquire it and at some point it's a good opportunity to get rid of it for something else, maybe something you want to chew, maybe a building or something with a motor, who cares. It is a shiny rock, I don't know if some monkey saw the reflection of the sun or what but at some point we paid attention to it and we've never since not paid attention to it, that's the important thing.

crypto is meaningless and brings nothing tangible to the table. It's just a bunch of code that other people buy and sell.

if you actually turned it in.

Just keep it hidden. Or change it to silver.

I hold both. And silver. And a shit ton of XRP, hahaha.

they knew who had the gold, they would've sent your ass to jail if you hide it
you could argue that gold is just a shiny metal that people buy and sell too and serves no other purpose

All things degrade relative to gold making it the value datum

>100+ years
>we

We'll all be dead lad

Nonsense. They would have no proof that I was hiding the gold. There was no gold registration that I am aware of for going down to the jewelry store and buying a ring or two (or two thousand). It would be safe and tucked away in a foreign bank account/safe deposit box. I would just say that I lost it gambling. Or better yet, say nothing at all and make them prove everything (which they couldn't do with the lack of evidence).

Gold is just a shiny metal but I actually have and physically hold gold/silver. If you buy bullion anyway. Bitcoin goes out when the power goes out.

Gold is inert
Gold is statistically rare but easy to extract because inert
Gold is soft and easy to work with
Gold is essential for electronics
Gold is even used in medicine

Physical Gold will always be Physical Gold, it will always have a value for the foreseeable future.

The problem comes from the financial sector being filled with corruption, greed and printed dollars.

Your dumbass just made the best argument for owning Gold. If the govt wants to confiscate it then that means its fucking valuable.

If you cant have gold then the Jew can confiscate your wealth through inflation

nigger if power went out your gold would be worthless too and the only thing that would matter is ammo, food and water. It would take power going out in the entire world for your bitcoin to go poof anyway, you could always retrieve them later.
About the gold confiscation, thats what you say now. You dont know how you would've acted back then, people were scared

well if that is the situation then we are not really in a position to worry anyway, right?

The fact that they can confiscate it is the problem. Yes they confiscated it cause its valuable no shit. In this day an age you couldnt hide your gold from the govt. Your btc on the other hand, they would have to torture you to death for you to give them your private key.
>inb4 i just hide it in the middle of nowhere the govt wouldnt find it
but someone could if they saw/followed you. BTC is like having your gold copy pasted in thousands of locations distributed all over the world.
Thing is, we have something now that is like gold but has many other pros that make it better

Crypto is non productive

Gold is part of a production chain. If you are cool with the high risk of dropping 90% over night or maybe going up 90%, buy crypto.

ok so you're just some retard that like to call people retard

aye most likely, though who knows how long it is until we can extend life to silly levels. some say people in their 30s today have a chance to live forever

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If they decided to flip their internet kill switch you wouldn't have it either. They got all the bitcoin they could want from the silk road raid anyway. They can never cut off access to your gold except by taking it, and they aren't going be sending the police door to door to get it. If they want the gold that badly they'll pass a law like they did in the 1930s and then offer a higher amount over spot for your trouble.

the silkroad btc were auctioned iirc. They hold more % of the entire supply of gold than % of btc. They dont need more gold they can print all the fiat they want. Btc on the other hand could potentially disrupt their power since many whales that hold it are against their interests

Read The Bitcoin Standard. It explains the history of money and why gold is considered the most trusted store of value.

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>Why is gold safe?
it's an inflationary asset not a store of value it is a hedge in certain types of crashes like no overall deflation just a crash off the stock market or a single currency plummeting.

>nigger if power went out your gold would be worthless too
you still can pay things with gold, electricity or not. what about your bitcoin? where is your bitcoin when theres no electricity..

right, not existent

/thread

faggot

Will gold crash to 1k?

also about 3k tonnes of gold is produced each year. production is increasing each year while the population growth of earth has been capped. there is no reason for gold to be worth more and every reason to worth less in the future.

or below

for bitcoin to become a chaotic mess you don't even need power to be gone. it's enough if the internet splinters between continents for a few days. then suddenly everything reverts to the longest chain when it re-merges and a shitload of transactions that had many many confirmations become "lol never happened". at that point price would drop faster then a hot potato from a baby's hands.

no one would give you shit for your gold in a collapse situation. Things that are actually essential to survive become the most valuable.

I've purchased quite a bit from APMEX and find them to be a good vendor. I suspect you'll be able to get better prices but it may not be as reliable (look up Hannes Tulving for what can happen if you go only for the low price without doing any checking into the reliability of the vendor) so I'm willing to pay the very tiny amount extra that APMEX charges. I am in the U.S., though, so if you're not in the U.S., it may be more troublesome to buy through APMEX.

If you don't need to physically possess the metal but still want allocated storage, I would recommend GoldMoney or BullionVault.

This book is total waste of money, its basically just Blockstream narrative of Bitcoin (bcore.org).
Author is a total nutjob, loud advocate for carnivore diet lol wtf... Salty as fuck, gets mad and bans when people point out his fallacies.

That is true only in a Mad Max scenario. There are less dire events where gold will protect the savings of people. Russia 1998, Venezuela today, Zimbabwe, Turkey, Weimar Germany, post-WWII Japan, and even the U.S. in the highly-inflationary 1970s.

well we were talking about electricity going off(making buttcorns useless), thats mad max enough so gold wouldnt matter either

So I guess in the 1700s, 1800s, and pre-Christ times when there was no electricity, gold was worthless? I don't think so.

Gold only becomes worthless when all of society totally falls apart, food and water become truly scarce, and there is no hope in sight for a return to civilization. So long as there is a place that hasn't gone to shit, so long as the screwed up situation is relatively temporary, gold will have purchasing power.

Friendly reminder that gold is a scam and anyone that bought it after the bubble burst in 2015 lost all their money

Is the dollar stronger or is gold weaker?

>comparing 1700s and 1800s non electricity society with XXI century
>not realizing we now have 100x the amount of people
>not realizing we depend on electricity to run modern society and if it went off for even one year 99% of the population would get culled
>thinking gold would matter even one bit in this scenario of mass chaos and paranoia

>when all of society totally falls apart
which is exactly what would happen if there was no power

2020:

Bitcoin = Gold
Ethereum = Silver
Conventment = Bronze

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The smell of 105 in this thread is making me nauseous.
Maybe try actually reading science books before you use science words

>no electricity, no BTC.

>no electricity, no YOU

neither do diamonds and diamonds are more useful than gold

none of gold's uses are unique to it, you can use silver for electronics and jewllery, silver is better because it has antibacterial properties

food is better than gold

transacting across the world and to mars without worrying that bitcoin is counterfeit
lets see you try lugging your gold to the mars base

Historically it has been money. People still value it that way. Women love gold. Therefore men seek gold. Diamonds are just carbon and it's too easy to make chemically identical synthetic counterfeits.

The only real risk to gold is if asteroid mining succeeds and the people who control that operation decide to flood the market.

I wanna believe

Reminder if you want to buy some shiny pet rock do it at 500, at least you’ll have a chance to make money

what are you talking about? Gold has infinite risk because it has no benefit to the 'shareholder' and it fails as a hedge. So Why would it ever gain value from here besides hedge contract exchanges

From Ben Graham's book I remember something like it's an okay/great vehicle to beat inflation. However, you don't get any dividends or interest or other kinds of income over it. Plus you pay some costs for storage and insurance.

So in short: Your money doesn't depreciate/it's a store of value, but you must pay a fee to maintain it.

>it's an okay/great vehicle to beat inflation
well it's not. it loses value over time. doesn't really hedge against inflation. it's also expensive too trade and difficult to store securely.

also diamonds are the hardest metal

Please kill yourself

Gold is a store of value commodity because it's one of the longest lasting metals which manages to capture human attention. Human attention = value. Everything else is merely a gamble that humans will continue paying attention to something.

Why? It IS the hardest metal.

Due to extensive research done by the University of Pittsburgh, diamond has been confirmed as the hardest metal known to man. The research is as follows:

Pocket-protected scientists built a wall made of iron and crashed a diamond car into it at 400 miles per hour, and the car was unharmed. They then built a wall out of diamond and crashed a car made of iron moving at 400 miles an hour into the wall, and the wall came out fine. They then crashed a diamond car made of 400 miles per hour into a wall, and there were no survivors. They crashed 400 miles per hour into a diamond travelling at iron car. Western New York was powerless for hours. They rammed a wall made of metal into 400 miles an hour made of diamond, and the resulting explosion shifted earths orbit 400 million miles away from the sun, saving the earth from a meteor the size of a small Washington suburb that was hurtling towards mid-western Prussia at 400 billion miles an hour. They shot a diamond made of iron at a car moving at 400 walls per hour, and as a result caused over 10000 wayward planes to lose track of their bearings, and make a fatal crash with over 10000 buildings in downtown New York. They spun 400 miles at diamond into iron per wall. The results were inconclusive. Finally, they placed 400 diamonds per hour in front of a car made of wall travelling at miles per iron, and the result proved with out a doubt that diamonds were the hardest metal of all time, if not just the hardest metal known to man.

Because it's not a metal you mouth breathing faggot

The price of diamonds are artificially inflated because of De Beers diamond operations and marketing. Diamonds are fairly common
businessinsider.com/scientists-found-quadrillion-tons-of-diamonds-below-earth-surface-2018-7

Diamonds might also rank as one of the hardest materials but that also makes them one of the most brittle.

Gold on the other hand is a relatively non reacting material that doesn't exhibit corrosion like many other highly reactive metals and can be melted to be reconstituted. It's soft, malleable, and easy to work with due to it's lower melting point. Most importantly, it's easy to verify it's pureness with a consistent weight. Last but not least, gold has a lot more practical applications due to it's properties over diamonds.

Gold is negatively correlated to stocks.

When stocks are in a bubble, sit with gold, it's undervalued, probably.

When gold is in a bubble, sell gold and get into stocks, they are undervalued, probably.

Anyone saying "Always be in _____" doesn't know historical trends and will never make it.

based copypasta is a diamond dozen

uuuh it is sweety?

Interestingly enough, there was a point in time when metallic aluminum was more valuable than gold ounce for ounce until the Bayer process made it possible to extract aluminum from bauxite efficiently.

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ALUMINUM?

Walking home today some fucker bumped into me and instantly started chatting shit to my face about aluminum being the best metal. I tried to remain calm and explained to him that iron was the best metal, but he wouldn't take a hint. He started throwing around words like "rust" and I lost it. Punched him right in his aluminum loving fuckface. I hate aluminum so goddamn much.

There's a whole industry of wealthy people who have left themselves with only one way to expand their market:
Lobby and sell gold as an investment to as many people as possible. any functional use of the stuff can't prop up a fraction of it's current price.

You can't make gold in a lab. You can make diamonds in a lab.

Delicious pasta must eat al dente

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>diamond is a metal
the absolute state