Gold is fiat money. It's only has value because we say it does. Aside from that, it more or less worthless.
>buh, buh muh gold is used in electronics
Gold used in electronics is purely for corrosion resistance, nothing else. Silver is far better as a conductor of electricity, however it tarnish while gold does not.
>buh, buh my SHTF, it will be used as currency when the economy collapses or grid goes down
Maybe in the land of Narnia it will. But back here in reality land, I'm not giving you my food, my water, my ammo, my medicine or any of my knives for a rock.
>buh, buh it's used to back the US currency
Uh, not really. Maybe it used to be used as a means of backing our (paper money), but as it stands, we don't have very much anymore, it's all vanished or been moved (likely to Israel)
>buh, buh muh gold investing and gold stocks
I hate to break it to you, but that amount of gold actually doesn't exist, if you invest in anything other than tangible gold that you can hold in your hand, you are being ripped off and scammed, your essentially investing in imaginary gold. If the grid goes down, or SHTF, what good are your (investments) in gold at that point?
>I don't care user, muh gold is good as money, I can buy what I want right now with gold
oh yeah? take your little gold coin and try to buy food, groceries, or some clothes with it, let me know how far you get. Aside from taking it to a pawn shop where they give you actual money, or selling it to an idiot friend, even right now you can't do much with gold aside from look at it and say (muh gold coin, lookie)
>if it's not worth anything, why do you think Israel took it
To bankrupt, and collapse the US economy, their ultimate goal is total anarchy and chaos, that and the fact that they are inherently genetic hoarders,
Gold is Worthless. Prove me wrong
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>t. doesn’t understand fiat currency
Gold can't be printed, it literally doesn't grow on trees that's the whole point of money you dumb fuck
>Gold is Worthless
>Pic related
/thread
Its a fiat with a pretty hard limited growth, as adding new gold to the pool is expensive and there is a finite supply so eeturns on mining diminish.
It's rare, requires effort to extract, and doesn't tarnish. You can hand golden heirlooms down the generations without worrying its value will diminish or its integrity will fail. It's a great physical store of value, especially now since it has technological applications
Gold has worth because we say it does.
try again user.
are you literally retarded? shouldn't you be off looking for your autists helmet or something moron?
Back to >>>/biz
It's a scarce material that has held value through history.
Cryptos will achieve the same thing with digital scarcity.
This.
Thus, it's fiat currency. But what I'm trying to point out, is that in today's world unless you jussahappen to be an electrical engineer with knowledge of it's electrical conductivity and use and application, then it serves no purpose otherwise.
OY VEY dont buy gold goy its WORTHLESS. here let me take that useless metal off your hands. ill give you a fair price on them!
>digital scarcity
Is a literal meme. Your digital scarcity is all imaginary. If it's digital, it relies soley on the power grid.
>Thus, it's fiat currency.
Something is faulty with your logic here.
Gold can literally be produced in nuclear reactors.
It's worthless.
OY VEY, buy and invest in gold stocks goy.. I mean sir.
I promise, as your financial adviser that investing in imagi.... I mean gold stocks is very very smart.
>threading your own post
I told you already, the US has almost no gold. And even if it did, so fucking what, most currency nowadays are numbers on a computer screen.
I also indicated that if SHTF, I'm not trading you anything for your shiny rock. You can take your gold colored rock, and kindly shove it up your arse, I'm not giving you my medicine, ammo, or weapons for a rock that will just sit there collecting dust. Not happening.
I also addressed the fact that it's use in electronics is primarily a corrosion use, gold doesn't corrode while silver tarnishes. Gold is not as good a conductor as silver either.
copper and zinc
fuck gold
Fiat = Valued because people who have it say it's worth someting
Economy collapses, grid goes down, shit hits the fan, people no longer care about a shiny useless metal rock - (please spare me the use in electronics and dental applications please), at that point they value: water, food, arrows, ammo, medicine, knives, cooking oil, coffee, sugar and salt more than a gold colored rock.
remember when india didnt have internet?
You're confusing fiat with the fact that value is subjective. Fiat is money issued by governments or organizations.
When the government is reestablished, there's a 9.9/10 that the currency they issue will be backed by gold and silver. By this time the price of gold and silver will have skyrocketed and hoarders who bury their precious metals in their backyards will become rich af.
You can print fiat money. You can't print gold.
How is gold not used by Governments or organizations? Isn't it "supposedly used" by our government to back the US dollar?
I said issued.
>Isn't it "supposedly used" by our government to back the US dollar?
No.
Agreed.
BUT, you can sell stocks and investments in non-existent gold.
I can't remember the name of the video, but a geo-economist pretty much made the argument that most of the gold that people invest in, buy stocks in doesn't exist. He also stated that if people suddenly started to cash in their investments for tangible gold, there would be a serious problem, because the gold is nowhere, it doesn't exist.
I agree that it's probably a good idea to have a little (TANGIBLE GOLD) laying around the house, but the money people dump into gold that they can't even touch or see is boarderline robbery in my opinion
>God is worthless.
user is right, Jow Forums.
If gold had any intrinsic value or beauty, we'd make jewellery from it and use it to guild the coffins of kings.
shits shiny and people will always value it, fuck you
Why is it that only Jews and Americans want to tell us gold is worthless?
the absolute state of uneducated burgers
if you want to go deeper, then digital is physical, just very small, it's very very small 0 and 1 typed at an atomic level, and atoms exists.
also only cryptography can guarantee scarcity, because no natural element is scarce enough in the universe to be a currency moving forward. and computers can't easily manipulate physical elements, as it's too fucking big compared to bits.
Gold is worth a little more than what it costs to produce.
>Gold is fiat money.
This was decided by history and people's opinions of value through all of history. It's not fiat by force, it's fiat by choice. Large difference.
Gold is a commodity. Fiat by design literally unlimited. Show me your 3D gold nugget printer.
electronic manufacturers use quartz mostly now, not gold don't they? so basically you're confirming what he said, it looks pretty and not much else.
Jesus.
Money is nothing more than the most liquid commodity.
Today, that is debt. Some places its fucking fish.
It may be gold again tomorrow.
if you see gold as a currency you have never been in debt
So what barter system?
>It's only has value because we say it does
Well there's a reason your mom didn't abort your retarded ass. Value is subjective.
>Gold used in electronics is purely for corrosion resistance, nothing else. Silver is far better as a conductor of electricity, however it tarnish while gold does not.
Making it a better choice and therefore more valuable. It's also really, really pretty. People like pretty shiny things, people like gold, gold is rare, therefor it has lots of value. It's something pretty that is rare/very hard to get your hands on and it gives the people that have it status. How is this stuff hard to understand? It's like saying people only like houses because it keeps them dry and safe. Correct! And people like being dry and safe, therefore it has value to people. Building a good house is hard and therefore good houses are worth alot.
That’s why it’s bottle caps in Fallout?
Hey OP, good to see you stuck around to respond. This looked like a single post bait thread at first. Gold is an industrial commodity that does have a fluctuating value. It's not arbitrarily determined, but based on demand.
Then why is China and Russia purchasing gold in droves? They seem to value it
user. You’re expecting 17 yr old autists to think like regular people.
Do you want a punch in the face?
>power grid shuts down
>no more blockchain
>no more tx verification mechanism
>all digital currency ceases to exist
i don't know, im not an economist. gold just has no inherent value except that international traders thought it was pretty and standardized it is all, and the OP is right as far as i can see.
Stop sucking dick and speak civilized, fag. TL;DR
So you have your food ammo and weapons. But now what do you do with the rest of your wealth? You can’t put it all in food ammo and weapons. This is where gold comes in. You aren’t thinking this through bud
>cryptos
CTRL-C
CTRL-V
???? profit
Try copy paste gold :^)
>gold just has no inherent value
>american education
no wonder you're all slave to the usury jew
>industrial commodity
see how people have to use official "economist" words to make it sound important? this just means that they mine it, it has maybe SOME use (limited, and we know now there are alternatives), and that everyone agrees it's valuable.
Bump
The fact that it has a use in electronics and gets used over silver because it doesnt corrode means it has some value. Also everything is worthless if nobody thinks its worth anything, a concept you should be very familiar with.
or you're just stupid never went to school and have a really really basic understanding of science
instead of accepting your stupidity and learning you create a whole imaginary world around you and you insult anyone who doesn think like you
you,re a moron and an underage one at that
gold contacts etc etc
you clearly dont know whats inside your iphone
>Digital money is worthless
>Muh $10k bitcoin
In a scenario where the government collapses the most valuable form of currency will be stuff you can barter for, food, tools, medical supplies, or luxury items like alcohol and tobacco. When there is no legal tender people would much rather accept a meal in exchange for goods and services than a shiny rock.
Gold is widely used in electronics as a conductor that doesn't erode. There are small amounts of gold in your smartphones and PCs.
On a practical level, leaf. imagine you live in the woods, or in a simple agrarian society, or that there is no huge economic backing of gold? what is it useful for?
oh, and gold gets people INTO usury. jews can't resist gold, and using it as a currency puts you in their thrall since they horde.
Gold is pretty.
It's been desired and sought after for centuries, if not millennia.
You are wrong. Barter existed before Jew monies. And precious metals are simply a commodity for more efficient barter.
You can pay in strawberries if you like. But good luck getting any leverage out of thing that spoils in a week.
create gold out of thin air kike and I'll agree
dum dum
quartz, i think. why the hell would they put gold in my nokia?
>On a practical level, leaf. imagine you live in the woods, or in a simple agrarian society,
thats straight out of your ars thats not the case and asn been for 2000+ years wtf are you talking about
if you can't understand the inherent value of one of the rarest element on earth you just know nothing to science and it's potential
don't push your ignorance as fact you sound underage and stupid
the only real monetery capital is violence
Gold is the one substance on Earth that anyone can recognize and is willing to accept as money.
so aside from replaceable contact points, what does it do?
do you want a punch in the face?
Yes although it may take some years and billions to produce a significant quantity.
Gold is antibacterial
Gold has worth because it is malleable beauty. It can be inlaid, overlaid, molded, sculpted - wrought to sublime resplendence. OP is a faggot. Go back to your pornography.
you mean aside from being aesthetic as fuck?
because thats literally 905 of why gold is valuble
radiation shielding for space travel, gold is best
Tell that to the reptiles when they come to collect for their ships.
It preserves your wealth because it doesn't erode.
Yes. Oh fuck yes give it to me.
Gold is best conductor also
The absolute state of retards.
...they don't understand this.
Gold will be valuable even in a literal post apocalyptic scenario, bitcoin won't. Perhaps the concept of bitcoin may live on and be recreated but it will be survivorcoin or some shit instead, as nobody will have access to old network.
Gold can survive at the bottom of the ocean in shipwrecks. Can bitcoin? HAH NO.
do you believe in democracy fren?
Fuck no nigger.
Gold is a store of value,it's a way to store man hours of work into something that is precious and small that can be held,stored broken into pieces etc etc.
Gold is great but unfortunately in just a few years all the people that know about how the gold standard kept things un kiked will be gone.
also, the hypothetical was perfectly fine, since i was trying to get you to picture a scenario where value comes from practicality, and that gold has no immediate ones, except like this guy says
>it's pretty
and this guy
>it just does because we agreed on it
Seems like a system to keep wealth concentrated in the hands of bankers and traders and that, like OP said, gold practically has next to no value that can't be replaced by other metals. except as a KIND OF CURRENCY.
/thread
do you believe in capitalism
Gold has use value which makes it a non fiat currency. Look up definitions before you open your cum guzzler.
Just type your questions in one post so this doesn’t drag out.
Crapitalism is not the answer
Serious question, what is going to happen to the value of all "precious" metals when space mining become a reality?
There were no bankers in agrarian societies. Are you saying that currency isn't valuable?
nothing the op said clashed with the idea of fiat.
>Fiat money is a currency without intrinsic value that has been established as money, often by government regulation. Fiat money does not have use value, and has value only because a government maintains its value, or because parties engaging in exchange agree on its value
lol, sounds kinda like gold, huh?
everything is worthles unless someone buys it with a real curreny
>It's only has value because we say it does.
Just like any other currency.
Are you saying metal has no use value?
no, i'm saying that gold has no intrinsic value. you can use it for contact points but it seems like saying the dollar has inherent value because i wipe my ass with it. i back that point, and get to watch the kvetching rofl
You suck at life.
no, im saying this:
your pilpul is garbage. all metals =/= gold
Judging by your own reasoning on why gold has value, we can say the same for cash ( 10$,100$ bills etc.) because it's just a piece of paper which has value just because we say it does.
You have literally disproven your own reasoning for why gold supposedly doesn't have value...
The number 1 most vital resource for Technology you dumb nigger. I love how retard don't understand the importance of gold.
no it doesn't ceases to exist, it doesn't get deleted. your data is not deleted when you don't have anymore energy. energy will always exist with us as a species. arguing about muh physical currency is stupid as most of our fiat system is digital.
if world electricity shuts down then all our stops mattering, only local trade would matter, and everyone will want everyone to do everything they could to get internet back up. why even talking about that, that's retarded.
you might be the most retarded person I ever dealt with on the internet since 1998. you can't copy paste crypto because that's the point.