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Everything posted by Injin

  1. So, i'll ask cos I am interested in your thoughts - do you have any information on the breaking points and thresholds for human beings under duress? (Assuming that at some point the system will break as the cost of being delusional/forced wil be too high.)
  2. There is indeed a lot more to the world than just the UK and they are all trading in unbacked paper money. Gold is generally accepted as money in the same way sloppy blow jobs are. Occassionally and it's nice for those involved, but it's minority trade.
  3. Very well put. The whole point of following mises understanding of what money is and where it comes from is that it becomes clear that process is everything. People may freely choose gold. They may choose wheat. And after a time, they may change their mind and choose something new. What's important is they get to choose, not what they choose. To claim that gold is money is to look at the accumulated decisions of 6 billion human beings and say you can short cut them - that' s 6 billion other human beings living their lives and making their choices but bugs can tell them all gold is money because bugs know better than they do. Has to be balls.
  4. You did notice my point about all this being completely arbitary and optional, right?
  5. Really? Do you have to go to such stupid lengths, rather than just admit I might have a point? Christ almighty.
  6. It's a funny definition of the word "prudent" that includes giving all your money to the largest fraudsters the world has ever seen!
  7. Yeah, pay taxes to yourself and if you don't, put yourself in prison. Maybe you can lock yourself under the stairs or something.
  8. No, it's because VonMises wrote an absolutely massive book outlining what money was and it's place in the economy etc - he did this from direct observation. That is, Von Mises description of money is derived from reality and is therefore accurate and true. No. Money is the most commonly desired item in an economy - for the item itself. Ciggies are prison money because prisoners smoke. Gold isn't going to be money in this sense ever, because most people aren't jewelers and wearing jewelry is itself a niche interest. Even the wedding ring is dying out these days and that's not actual demand either, it's a wacky cultutal tradition.
  9. No, really. You can';t go shopping with gold. Yet. The bet with gold is that at some point you will be able to. There isn't a shred of evidence that absent the state forcing people to use it, that will ever be the case.
  10. Gold isn't generally accepted. There is a video a few pages back proving it beyond any doubt.
  11. Yes, thank you. I knew there was a correct terminology for it.
  12. Then so is absolutely anything whatsoever you could swap fags for. That makes is so heroin, cheesey wotsits, pampers, a bag of spuds etc etc are all money. Or, you are being bloody daft rather than let go of a wrong headed idea.
  13. No, that makes gold an occassionally used medium of exchange. (In the same way that carrots or other crops are in some farming communities). Money means that item in an economy which is most often used as a medium of exchange. An example - in a prison you trade your soap for some porn, using new socks as the middle man. But everyone else is using tobacco as their medium of exchange, so tobacco is money in the prison.
  14. No, it's the difference between people fulfilling their genuine, real desires, and wasting their time on myth. if you don't care what form demand takes, then you shouldn't have an issue with fiat money, or (to take an extreme but logically accurate example) rape.
  15. But not gold. Hardly anyone wants it. You don't. I don't. Errol doesn't. Goldfinger, wherever he is now, doesn't. We all bought it hoping someone else wants it later on if TSHTF. And they don't either, they buy it for the same reason - to pass it on. All a bit of a waste, really.
  16. We;ll if you want people to be mentally healthy, happy and rational you do indeed care whether they are doing something from their own genuine intent or because they are thinking badly. Me buying pie because I like pie = good. Me buying pie because I have fallen for a lot of nonsense and think someone else will want pie (when they are playing the same game and no one really likes pie) = bad.
  17. Obviously so. Debtors provided all the value in the deal, and were lied to. So were savers. Savers however, provided nowt. They signed the papers, which were sold to pension funds for face value. The books already balance. The lie is that the debtors still owe. You should have lost all your money already. Why not try being grateful that the state has your back? You should be skint and instead are one of the beneficiaries of selling the UK's children off.
  18. That was when gold was decreed to be money by the state. The "cross of gold" which the population were nailed to. Not market demand. What gold is very, very good at is regulating fraud. Bankers fractional games are much harder to work when they have to have a pile of gold to show the king/police/whatever upon demand. Problem with this scenario for the gold investor who is making this punt is that the king/police/whatever show zero inclination to limit the bankers.
  19. No, theres no organic market demand, just scared people who blieve in nonsense. Why not invest in pieces of the one true cross? Same methodology, same ethics.
  20. No, of course not. However, just like the goldbugs I am looking at the past and extrapolating foward. We may get a black swan, where gold suddenly has market demand that it has never had before, but as you can buy pretty much anything and have that sort of black swan, it's not a viable and reliable investment strategy. (Only negative black swans can be invested in with any degree of accuracy.) You don't have a crystal ball either - no one does. All I know is gold has never been money before (absent the state forcing people to use it) and there is no reason to think gold will be in the future (unless the state forces people to use it again, which is as I already said is what the goldbugs rocketship pictures are all based on.)
  21. The real bet with gold is a long term punt on the authorities making a new gold standard. Any major upside has to come from there, for as we have seen there simply isn't enough natural market demand. It's a possibility, but not a strong one. The paper and PC number games are just too lucrative and easy to run, and will remain so. When this system crashes (as it must) it's very hard for me to see past the PTB simply making a new one. They might even have to, if they have not enough gold as has happened with more than one CB through the ages.
  22. Fantastic point. The central banks more or less ARE the market for gold. But what are entralbanks currently in the business of doing? Going bust!
  23. No, you should have lost everything in 2008 when the banking system collapsed. By now all the fraudulently induced debts should have been written off, all the savers (including yourself) told "you are an idiot for believing bankers" and the whole shebang just starting to be behind us. No one owes you anything - not even safety of deposit.
  24. The strategy is already in the thread and it's in line with the usual, 10% of your wealth into gold and hope gold goes down in price. I've already answered why as well - people are stupid and ignorant, which is why gold works. The thing that irks me is that I don't want people to be stupid and ignorant, I want them to think and so holding gold is more or less against my core philosophy. But well, see the sig. In an ideal world golds price would reflect actual values, but we don't live in an ideal world. The problem that gold has is that those holding gold (often truth seekers or alternative and worthwhile thinkers of various stripes) then have a vested financial interest in not thinking and a vested interest in other people being stupid and ignorant, I don't consider this a good thing. Do you?
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