OpenGambit
Banned
If anyone's opinion is silly, its the one that says "the world is ending, only gold and silver is safe, oh BTW I am a dealer."
A World In Debt
- Thread starter imkruzen
- Start date
If anyone's opinion is silly, its the one that says "the world is ending, only gold and silver is safe, oh BTW I am a dealer."
For a lawyer you really suck at reading
And here's a tip sweetness, don't start a debate about something you know nothing about.
Last edited:
OpenGambit
Banned
For a lawyer you really suck at reading
And here's a tip sweetness, don't start a debate about something you know nothing about.
I read enough to see both a conflict of interest and a breach of the rules re: self promotion.
I don't run around the HTA forum telling people "you need a lawyer, btw here is my card".
Don't run around the forum misquoting people. If you don't know what I mean I would glad to show you first hand. I would think a lawyer would know better than to resort to such antics. Additionally, that is a completely ***** move trying to rat me out. Last I checked you didn't work as a mod. And although I am sure it is a struggle for you not to become pompous, what with all the sycophants on here blowing hot air up your ***, for the sake of your own reputation, perhaps try. Now run along and tell on me.
This thread makes my head hurt. As someone who does have a degree in Economics, can I point out that Economics is a Theory used to explain observed behavior and predict behavior in the future? It seem like everyone here is arguing like their view of economic theory is some sort of scientific law. People are irrational. Anyone who can says they can predict the future based on a theory is lying.
By the end of the thread, I wasn't sure who was agreeing with who. I have always found these type of conversations stimulating but are really very productive on the Internet. If people want to discuss this stuff in person over a beer, I am up for it.
By the end of the thread, I wasn't sure who was agreeing with who. I have always found these type of conversations stimulating but are really very productive on the Internet. If people want to discuss this stuff in person over a beer, I am up for it.
I am curious how you think he is ratting you out. In post 59 of this thread you said you were a dealer. You may have been being sarcastic, but sarcasm does translate in writing. I got the same sense that you were conflicted. That doesn't mean you don't honestly hold your views, but I would hope you could see how the perception of a conflict is there.
PS - I agree you were misquoted. He was taking the most extreme view of your statement. But that isn't the first time that has happened in this tread.
He comes on this thread and lights into me, not contributing anything to the original topic, just because he is bored I suppose. Then when I call him on his crap, he dodges it and starts whining that I broke the rules. My point is he is being a little *****. Talk to me like a ***** and I'm gonna slap you like a *****. Why you have decided to come on here and interject is beyond me. Look at the guys signature. It doesn't take a rocket scientist to figure out he's advertising, not to mention he feels the need to espouse his wisdom on every single thread.
imkruzen
Well-known member
Really think so? What's different from when Argentina folded and today's financial instruments is the big differance. JPM's losses are a hint.
The reason why I came here to interject is because I wanted to. If no one posted on here it wouldn't be a very interesting place. We all come here for the perverted fact that we find this kind of banter fun.
As far as my comment goes. I stand by it. I don't think he ratted you out. I think he was pointing out that based on what you said your occupation was, that your comments here could be perceived to be self interested (someone could have a reasonable apprehension of bias in his lawyer speak). If you wanted to clear up his allegation you could confirm or deny what you do for a living. You don't need to give your name or where you work.
I have no idea if he is advertising for clients but his signature does indicate (to me anyway) that he is a lawyer. He may just put that there because lawyers are typically quite anal with the CYA language.
He could clear that up by saying what kind of law he practices (cbr pm me if you don't want to make it public).
lol I got accused of getting my info from youtube but never knew youtube has these sorts of information on economics. Man I must be doing something right.
Interest rate needs to rise to get more investments. I remember back in the 90's when I had my first job as a 15 year old man was I happy to make a couple hundred per year on my GIC investment of about 7%. Yeah there's probably other reasons too but we're living in a technological era where the pace is much faster and the best theories would probably be elasticity.
Interest rate needs to rise to get more investments. I remember back in the 90's when I had my first job as a 15 year old man was I happy to make a couple hundred per year on my GIC investment of about 7%. Yeah there's probably other reasons too but we're living in a technological era where the pace is much faster and the best theories would probably be elasticity.
This is why gold (and silver to some degree) tend to keep coming back as currency.
You are a newf right? So let's you are a real good fisherman. You catch a lot of fish. Your neighbour Joe grows wheat and grinds it into flour. Now you need flour to make your bread, however Joe can only eat fish so often. Let's say Joe needs apples though (which you don't have/sell) and he only wants apples, how the hell are you going to get your flour to make your bread?
We need a currency that can represent the goods that we want to buy so that you don't need to trade your fish for an apple so you can get a pound of flour.
It's not that gold is worth anything more than fish, or apples, or dried turnips. It's that gold doesn't really expire, there isn't a lot of it and we can't really increase the supply massively over night, without also incurring the big expense of extracting it (effectively you have to work for it to get it no matter what).
Kapish?
Canada's first currency was beaver pelts, when will we go back to that standard?
One thing that drives me nuts is the belief that gold IS a currency......its isn't. I can, and has been used as one....but it isn't one.
I never said they ARE currency, I said they keep coming back as such for the reasons I described. Beaver pelts didn't fit that because they deteriorate and have a primary use that is different than their use as currency. The primary use of gold is a store of monetary value and not jewelery or electronics. Almost all the gold that was every mined is still available today so we haven't really consumed much of it.
A bartering system would be great, but in a bartering system some things are going to have a higher value than others. The highest valued item to barter will naturally be gold. History tells us this and if you look at the dispersement of gold throughout the world and it's various forms and uses, this is very apparent. Sure if a global crisis hits people will trade goods and services but gold and silver and even other metals will still be traded and widely held as a place to store wealth.
Yes, this is true. But gold is rare and it is horded and used for jewelry. It is said that if you took all the gold ever mined you would only have enough to fill 3 large swimming pools and fifty percent of that is in the form of jewelry. It may not make sense to you but since when did people ever make sense?
You can't deny the value of gold or silver. People have given it its value. Have a look into what all the big players have their money invested in especially now. Not to mention that silver in particular should be a 10:1 ratio to gold. A lot of people on jumping on the chance to cash out on the fact that silver is currently undervalued and in addition it is in fact consumed and disposed of. We throw silver in the garbage and there is a limited amount of it in the world and currently a huge deficit in supply.
Last edited:
imkruzen
Well-known member
GS Statement:
Goldman maintains “constructive” 6-month forecast, says case for higher prices remains in place. Goldman stands by its forecast for a rally in gold this year, saying that the precious metal will advance to $1,840/oz over six months as the U.S. central bank embarks on a third round of stimulus in June. The precious metal remains the “currency of last resort,” according to analysts led by Jeffrey Currie in a report released yesterday. Goldman’s gold forecast implies a 15% return in 6 months. “In early 2009, we suggested that gold had become the currency of last resort, overtaking the U.S. dollar’s status due the rising risk of sovereign default and debasement concerns,” Currie wrote in the report. Even as the U.S. currency advanced and gold fell on the European crisis in recent months, “it is too early for the dollar to reclaim this status,” they wrote. “The case for higher gold prices remains in place,” the analysts wrote. “U.S. economic and employment data has now disappointed for several weeks, European election results point to further stress in the euro area, while anecdotal data suggests that physical gold demand remains resilient.”
imkruzen
Well-known member
Rates rise for 2 reasons. Intended and unintended reasons. Intended rises instigated by central banks cause money velocity to slow.
I'll leave the other reason open to cb to explain. It's currently taking place in this melt down, so there are examples.
That's great, gold still isnt a currency.
