Injin Posted January 27, 2013 Share Posted January 27, 2013 I can't believe that my eminently practical approach managed to achieve opposition from both Errol and Injin! I agreed with it! Quote Link to comment Share on other sites More sharing options...
warpig Posted January 27, 2013 Share Posted January 27, 2013 Says it all. I already said "I dont know what i am doing, gold is pure speculation for me" is fine and dandy as far as i am concerned. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 27, 2013 Share Posted January 27, 2013 Says it all. Yes, it's you doing an out of context quote to try and ad hominem rather than answer a few simple questions. Really does say it all. You haven't got a clue what you are doing. Quote Link to comment Share on other sites More sharing options...
warpig Posted January 27, 2013 Share Posted January 27, 2013 Dork. Yes, it's you doing an out of context quote to try and ad hominem rather than answer a few simple questions. Really does say it all. You haven't got a clue what you are doing. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 27, 2013 Share Posted January 27, 2013 Dork. Stuck all your money into something you don't understand, haven't you? Silly billy. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted January 27, 2013 Share Posted January 27, 2013 Injin, what investment strategy would you recommend for someone with assets/money? The intellectual debate on the nature of money is all very interesting but is also pretty irrelevant, IMO. The fact is that sufficient people demand gold, ten pound notes, houses etc makes them worth having. The demand isn't universal (ten pound notes are subject to low demand in China, for instance and gold might not be in demand by a newsagent selling you a paper) but it is sufficient and it is real. Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted January 27, 2013 Share Posted January 27, 2013 You should. Shouldn't you? Or would you put all your net worth into some tech comapny you didn't understand anything about because lots of other people (who also had shares in it) were saying it's the best thing ever? Would you open a business with no idea who your customers were, what they wanted or how to provide it? You didn't answer the question. (Because you cannot, I know.) because they all all alternative investments to gold and all of them are massively better from the point of view of being understandable. Even those most in favour of gold are (on the whole) dismissive, arrogant cranks and weirdos who can't answer straight questions. It's like a series of abusive time share salesmen in metallic form. It doesn't do anything for me. Or anyone else from what I can gather. Happy to be corrected, so far the pro gold lot have got nothing rational going for them. I'm also quite happy to use the fact that some people can't (won't?) think to help myself but i'd rather people put their thinking caps on than make a profit, tbh. Gosh your soooooo ******** (this isn't ad homenim btw just a conclusion as to your thought process wrt gold). I have shown you that you can buy products from a supermarket with gold allbeit through a long winded way, and who knows in the future, Tesco may well position a set of scales adjacent to the enterance of all their stores where you can drop in your gold and you recieve a chit that entitles you to shopping worth £xxx for the value of your gold sold at the door (theres a future possibility with which you use with great aplomb during your posts). I have shown you that in part demand arises from Tesco. I hope the above may be taken by yourself and contemplated as opposed to being (speclativley thinking here) instantly dismissed. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 27, 2013 Share Posted January 27, 2013 Injin, what investment strategy would you recommend for someone with assets/money? First, determine who you want to be aligned with (and why). Then find out what they want and why they want it, then have a coherent plan for providing it to them on a long term basis. The intellectual debate on the nature of money is all very interesting but is also pretty irrelevant, IMO. The fact is that sufficient people demand gold, ten pound notes, houses etc makes them worth having. The demand isn't universal (ten pound notes are subject to low demand in China, for instance and gold might not be in demand by a newsagent selling you a paper) but it is sufficient and it is real. I've already agreed with this point of view and also pointed out it's worthless in this discussion, which is about formulating strategy. Why bring it up again? Quote Link to comment Share on other sites More sharing options...
Injin Posted January 27, 2013 Share Posted January 27, 2013 Gosh your soooooo ******** (this isn't ad homenim btw just a conclusion as to your thought process wrt gold). I have shown you that you can buy products from a supermarket with gold allbeit through a long winded way, and who knows in the future, Tesco may well position a set of scales adjacent to the enterance of all their stores where you can drop in your gold and you recieve a chit that entitles you to shopping worth £xxx for the value of your gold sold at the door (theres a future possibility with which you use with great aplomb during your posts). I have shown you that in part demand arises from Tesco. I hope the above may be taken by yourself and contemplated as opposed to being (speclativley thinking here) instantly dismissed. The question was "why do/would people want gold?" The question wasn't "who wants gold?" if you'd like to answer why anyone would want to have some gold, please do so. But lets have no more time wasting answering the question you wish you'd been asked, please. Again, I have already agreed that people will indeed trade with you in gold (without knowing why.) Stop raising it as an issue, i've already conceded the point. But, in your turn please have the honesty to admit you haven't got the slightest idea what you are doing or why anyone would want gold. It's a lot better all round than intoning the ghost of jp morgan, avoiding the simplest of questions or whatnot. Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted January 27, 2013 Share Posted January 27, 2013 The question was "why do/would people want gold?" Its nice to look at and hold and feels safer than fiat currencies. Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 (edited) The question was "why do/would people want gold?" Oh Injin are you still banging this drum. You know exactly what gold is about; worry, uncertainty, fear... etc etc. I don't want to hold gold just as much as I don't want to hold insurance. However, if I didn't hold insurance I would feel exposed to forces beyond my control. 10% of ones wealth in gold is recommended. So a few ounces in a jar of peanut butter is fine. Can we move on now? Edited January 28, 2013 by killerbee Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Its nice to look at and hold and feels safer than fiat currencies. Superb. Have you thought about getting a good looking guard dog? Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Oh Injin are you still banging this drum. That thinking about things is the best thing ever compared to randomly accepting guff? Damn straight I am. D: You know exactly what gold is about; worry, uncertainty, fear... etc etc. Yep, I know this. Why? I don't want to hold gold just as much as I don't want to hold insurance. However, if I didn't hold insurance I would feel exposed to forces beyond my control. And being subject to the irrational whims of people who think metals are magical isn' beyond your control? 10% of ones wealth in gold is recommended. So a few ounces in a jar of peanut butter is fine. Can we move on now? Already said so. Quote Link to comment Share on other sites More sharing options...
Errol Posted January 28, 2013 Share Posted January 28, 2013 It's really funny how we always end up with heated arguments in this thread. Gold inspires some strong emotions, that's for sure. Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 That thinking about things is the best thing ever compared to randomly accepting guff? Damn straight I am. D: Yep, I know this. Why? And being subject to the irrational whims of people who think metals are magical isn' beyond your control? Already said so. Why? Fear causes demand for things we don't really want. Therefore, 'fear, uncertainty...etc' is the 'demand' for gold that you wanted proof of. Ok, so now you've got your explaination, which you didn't really need, can we move on? Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 It's really funny how we always end up with heated arguments in this thread. Gold inspires some strong emotions, that's for sure. I have no problem with gold. If nobody wants my little bit when the time comes I'll mount it and stick it in a picture frame. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 It's really funny how we always end up with heated arguments in this thread. Gold inspires some strong emotions, that's for sure. 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. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Why? Fear causes demand for things we don't really want. Therefore, 'fear, uncertainty...etc' is the 'demand' for gold that you wanted proof of. Ok, so now you've got your explaination, which you didn't really need, can we move on? 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? Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 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? Yes it does. If you are told that fiat is going to be worthless and you have lots of it you will fear losing it. Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Yes it does. If you are told that fiat is going to be worthless and you have lots of it you will fear losing it. 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? Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 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? Sorry, worth less. Think... ice cream costing £20. Gold does not fulfil any of my physical needs Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Sorry, worth less. Think... ice cream costing £20. Gold does not fulfil any of my physical needs If gold doesn't fulfil any human need, where does the demand come from? Quote Link to comment Share on other sites More sharing options...
Stay Beautiful Posted January 28, 2013 Share Posted January 28, 2013 It's mostly me asking really simple questions and them being avoided. Was my answer not acceptable for you? Quote Link to comment Share on other sites More sharing options...
Injin Posted January 28, 2013 Share Posted January 28, 2013 Was my answer not acceptable for you? You didn't actually answer the quesion, so no. Quote Link to comment Share on other sites More sharing options...
killerbee Posted January 28, 2013 Share Posted January 28, 2013 (edited) If gold doesn't fulfil any human need, where does the demand come from? Ah but it does, humans need and desire financial security. Gold, as well as other things such as paper money, land, gems, art etc provide financial security. Can we move on yet? Edited January 28, 2013 by killerbee Quote Link to comment Share on other sites More sharing options...
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