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Injin

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Everything posted by Injin

  1. A gold standard is a fiat money system - that is gold has value because you have to pa taxes, licences, fines and debts with it. Again, no evidence of organic demand. Quite the reverse, in fact. Do you really want your wealth to be based on a one way punt that if it succeeds will only do so because of violence enacted on others?
  2. No comment really, good thread. I'd say that the current system of landownership arose in a less technologically adept time and place. It makes sense given you couldn't track anything back then. With computers storing data, CCTV, RFID, etc it would be possible to move to a property based system.
  3. Yes, yes it is. It's also a way of saying that gold is as volatile as ******, being based on nothing more than fools seeking greater fools. Plenty of other PM's will do the job, without the corrosive effect on the personality that being invested in the decline of your own society and the foolishness of others will have on you. Yes, you might miss an upside, but you won't be *****ing into a sock at the thought of your neighbours going hungry. What's your humanity worth, hmm?
  4. I don't care how I come accross and I am a professional psychologist.
  5. A bubble is when something is priced beyond that which it's fundamentals indicate is appropriate. That is, inorganic demand far outstrips organic demand. So for example - house prices have been going up because people with no interest in housing per se for the housing itself have been seeking returns based on ever increasing prices, BTL and the like (a lot of whom as particleman has pointed out are seeking retirement income.) The fundamentals of the housing market are the ability of the average wage earner to buy the average house - plenty of metrics around showing that's 3-4x single blokes earnings, not 11x joint. We can say it's a bubble, therefore. Gold doesn't ever seem to have been priced based on the jewelers/industrial demand for it. Or did I miss something?
  6. Absolutely superb answer, thank you. There is indeed some organic demand. I highly doubt whether it has much of anything to do with golds price, which is sentiment (i.e. scared investor with a head full of marbles) driven. You are completely correct, though.
  7. Well, given I have asked the people who I can easily access who are most interested in gold and they are coming up with not a right lot (or are even admitting that gold doesn't have much organic demand) I can't see why it would be helpful to go asking people on the high street a la market research. I'm not averse to doing so, but I'd need convincing of the reasons why. Because of poor parenting coupled with centralising philosphies taking hold of popular thought - marx, smith etc Because they don't work and can only continue to operate by crowding out any free market system - this means total dominion or bust. Better parenting, a withdral of collectivist thinking from society. Not happening any time soon.
  8. Well, they don't mind lying to your face. So we could go back to a gold backed currency - it just won't ever really be backed by gold, it'll be just another scam. The crucial point about gold standards for the would be reofrmer is that they don't work. If they did we wouldn't be here.
  9. It means that everyone who wants a more rational world and happier people in it who doesn't actually want and enjoy gold for the gold itself shouldn't have any. So I know what I will be doing. I don't consider us to be a we, though really. You aren't in the same league as I am, frankly. Probably not the same sport, even.
  10. Sure. The only thing that could stop it being a bubble is if the general population starts to think a bit. Not too likely in my lifetime. However, it does mean that to hold gold is to be anti empirical and anti rational to continue to profit.
  11. Once we have facts, we can formulate strategy. First fact (I think everyone is agreed upon) is that gold is a permanent bubble.
  12. What do you mean, "now"? First thing I said was jewlers and some industrial use, but couldn't see any reason for the wider demand.
  13. Excellent answer, thank you. I can't see the actual price being demanded matching up to this set of criteria, however. There are other PM's without the sentiment issues.
  14. The fact that you didn't actually answer the question, obviously.
  15. So you've taken other peoples money by giving them something they didn't really want? How edifying. No wonder basic questions are treated so badly.
  16. I've had no answer to my question - apart from a few honest souls who tell me no one is interested in gold at all. I take it you are another punter who is looking for a greater fool then themself?
  17. They should have their property returned to them, with a fee attached for the cost of same.
  18. For the gold itself very, very few people even amongst those who have gold.* Not the issue, nor what's being asked. *Edit - I am basing this off the goldbugs responses, fwiw. none of them actually want gold for the gold, none of them can give me any human need gold can fulfil, none of them can point me to any organic market demand for gold. On the face of it, gold is always a bubble.
  19. Why does something that no one wants provide you with financial security? Compared to (for example) things that they actually do want?
  20. If gold doesn't fulfil any human need, where does the demand come from?
  21. Explain further please. how does fiat becoming worthless (i.e. the taxman will stop threatening people with prison) mean gold will help you? What physical need does gold fulfil?
  22. That's doesn't explain anything. Why if you are afraid do you want gold? Does it deflect bullets or something? if I am afraid of starving, I store food. What physical need does gold fulfil?
  23. I don't understand why you think there is any heat in this debate. Not too sure why you think theres a debate, either. It's mostly me asking really simple questions and them being avoided.
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