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Author Topic: Something wirth talking about  (Read 932 times)

Offline Silat

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Something wirth talking about
« Reply #15 on: September 22, 2003, 03:07:10 AM »
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Originally posted by vorticon
trust me...iron and steel will be worth more when armageddon's here...gold is very soft so its utterly useless


Ensure and Toilet paper will be far more valuable  :lol
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+Silat
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Offline lazs2

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Something wirth talking about
« Reply #16 on: September 22, 2003, 07:58:57 AM »
If one bought a Colt single action army revolver in 1873 using a $20 gold piece....  the Colt would be worth more today than the $20 gold piece.   just saying..
lazs
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Offline gofaster

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Something wirth talking about
« Reply #17 on: September 22, 2003, 11:01:55 AM »
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Originally posted by lazs2
If one bought a Colt single action army revolver in 1873 using a $20 gold piece....  the Colt would be worth more today than the $20 gold piece.   just saying..
lazs


... and the Colt would actually be useful after the apocalypse.  Even if you didn't shoot with it, you could still threaten the bandits with it and even conk them on the head with it.
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Offline vorticon

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« Reply #18 on: September 22, 2003, 02:36:18 PM »
a good supply of iron coal and a selting furnace are good to...
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Offline Curval

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Something wirth talking about
« Reply #19 on: September 22, 2003, 03:05:18 PM »
Quote
Originally posted by lazs2
If one bought a Colt single action army revolver in 1873 using a $20 gold piece....  the Colt would be worth more today than the $20 gold piece.   just saying..
lazs


lol..clever lazs..very clever.  I you on this one.
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Offline john9001

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« Reply #20 on: September 22, 2003, 03:53:44 PM »
gold is like anything else, it's only worth what someone will pay for it.
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Offline Thrawn

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« Reply #21 on: September 22, 2003, 04:22:10 PM »
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Originally posted by john9001
gold is like anything else, it's only worth what someone will pay for it.


Sure, but the point is that "someone" will pay the same value for gold now as they did in 1913.
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Offline Maverick

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« Reply #22 on: September 22, 2003, 10:29:57 PM »
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Originally posted by john9001
gold is like anything else, it's only worth what someone will pay for it.


You left out something here. What will they use to pay you for that gold??  Answer, paper money(unless you want to accept coins like pennies and quarters or such). Yep gold really showed up well there.   :rolleyes:

What is gold really worth?? However  much paper fiat of what ever governmental entity you are willing to accept. :rolleyes:

Way back when, I watched when the US govt. decided to loosen the ownership of gold. The price shot up to $1000.00. Then folks decided they wouldn't pay that much for it and the market in gold crashed down to about $300.00 or so. It still is worth only what someone will give in paper money for it, but only after both sides agree that the exchange is equitable.

Gold, like paper money has limited intrinsic value. It is only worth what you are willing to give or sacrifice for it. In the event of some devastating event that tears down the economies of the world the only thinkgs of value will be those things that will allow you to survive. Thinking that some kind of money will be worth anything is a pipedream as barter will be the rule of the day.
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Offline Thrawn

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Something wirth talking about
« Reply #23 on: September 23, 2003, 01:03:42 AM »
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Originally posted by Maverick
What is gold really worth?? However  much paper fiat of what ever governmental entity you are willing to accept. :rolleyes:


Sure and if you bought $5(paper fiat (neat term)), and then sold gold today, you would get $100(paper fiat).

Where as the buying power of the $5(paper fiat) has lost 95% of its buying power today.

So the buying power of the gold has stayed the same.  And the buying power of that $5 bucks from 1913 is worth about 25 cents, in adjusted dollars.
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Offline ra

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« Reply #24 on: September 23, 2003, 07:09:42 AM »
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Originally posted by Thrawn
Sure and if you bought $5(paper fiat (neat term)), and then sold gold today, you would get $100(paper fiat).

Where as the buying power of the $5(paper fiat) has lost 95% of its buying power today.

So the buying power of the gold has stayed the same.  And the buying power of that $5 bucks from 1913 is worth about 25 cents, in adjusted dollars.

This would be a meaningful point if anyone had suggested that paper money is a good investment.  No one has, in fact cash is by definition NOT an investment.  Comparing 1913 dollars to 2003 dollars is meaningless.   The actual value of gold must be measured in how long you would have to work to buy it.  Today the average worker can buy more gold with one day's labor than a worker could in 1913.   The medium of exchange they use is irrelevant.

Gold's main attraction as an investment is that it will always be worth something.  Paper money and stocks can become worthless in the blink of an eye.

ra
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