What do you think of the gold joke? - page 5
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gold cannot be a currency for a long time
for example because http://www.cbr.ru/statistics/credit_statistics/ms.asp and http://www.cbr.ru/hd_base/default.aspx?Prtid=mrrf_m
no commodity has the liquidity and compactness to be money
financial liabilities partly qualify, but they are not completely liquid either
I am still wondering what is the value of gold?
You cannot spread it on bread, it is a good conductor, but it is not so different in price from copper, it does not rust, but steel alloyed with additives does not rust either.
What is the point? Maybe it is true that some aliens for the gold will give you a badge for the right to rule the planet :)
Maybe the ancients knew something about its special properties that we do not know.
Take the textbook "Money, Credit, Banks".
The biggest revelation from the textbook for some forumists will be that the main function of paper money is to ensure the circulation of goods. And as a means of accumulation, saving is a secondary function of money and not the main function at all.
The problem of the western economy is precisely that the secondary function of paper (electronic) money as a means of saving has been turned into the main function. And that is not the whole problem. A much bigger problem is derivative securities, of which there are far more than all the real assets on earth. And we are heading towards the point where the owners of the real assets alone will start demanding only real assets in barter and all paper will turn to dust. And gold will not. Its quantity in the world is very limited, it can't be printed and you can't dramatically increase production either. It is a real limited asset, it doesn't go stale and because of its small quantity it is matched against a large number of other assets. Therefore, by comparing the unit of gold to the units of various commodities, we can find out the price structure of the commodities market. We will be able to answer the question: how many ounces of gold should be given for a Mercedes or an iPhone. By the way, it will turn out that not a single gram of gold will be given for Facebook. Not a gram of gold for the whole emery board either. And the invented world of invented values will descend to the prose of life: watches-pants-bread.
Gold will always remain and paper..... securities... derivative securities .... Let's not forget that the dollar became DOLLAR when the US government promised the world to exchange it for gold on demand. Thirty years later greed ruined a thief.... Now just going back to square one.
Take the textbook "Money, Credit, Banks".
The biggest revelation from the textbook for some forumists will be that the main function of paper money is to ensure the circulation of goods. And as a means of accumulation, saving is a secondary function of money and not the main function at all.
The problem of the western economy is precisely that the secondary function of paper (electronic) money as a means of saving has been turned into the main function. And that is not the whole problem. A much bigger problem is derivative securities, of which there are far more than all the real assets on earth. And we are heading towards the point where the owners of the real assets alone will start demanding only real assets in barter and all paper will turn to dust. And gold will not. Its quantity in the world is very limited, it can't be printed and you can't dramatically increase production either. It is a real limited asset, it doesn't go stale and because of its small quantity it is matched against a large number of other assets. Therefore, by comparing the unit of gold to the units of various commodities, we can find out the price structure of the commodities market. We will be able to answer the question: how many ounces of gold should be given for a Mercedes or an iPhone. By the way, it will turn out that not a single gram of gold will be given for Facebook. Not a gram of gold for the whole emery board either. And the invented world of invented values will descend to the prose of life: watches-pants-bread.
Gold will always remain and paper..... securities... derivative securities .... Let's not forget that the dollar became DOLLAR when the US government promised the world to exchange it for gold on demand. Thirty years later greed ruined a thief.... Now just going back to square one.
Let us not forget that the dollar became the DOLLAR when the US government promised the world to exchange it for gold on demand. After 30 years, greed has ruined a thief.... Now just going back to square one.
If I'm not mistaken, there is an American financier video on the net lately that confirms everything you said, except that over the last 30 years the dollar has been pegged to oil
ZS: it is quite possible that the Fed's game of quantitative easing policy was intended to decouple the dollar from oil and peg it to ??? - there is a lot of speculation or speculation online about China's increase in real gold reserves - unconfirmed reports suggest China has been importing real gold illegally in recent years, literally by truck, without including that gold in its published gold reserve figures
I'm surprised that such things are discussed on a trader's forum.......
What's so surprising about it? There is nothing surprising about it. These "things" directly affect the sphere of interest of the "trader's forum".
However, as you know, a man sees what he understands, and what he does not understand is astonishing.
if you imagine a crisis-apocalypse, of course the superstructure loses value.
the important thing would be to get water, medicine, food, weapons.
everything else would be meaningless.
Take the textbook "Money, Credit, Banks".
The biggest revelation from the textbook for some forumists will be that the main function of paper money is to ensure the circulation of goods. And as a means of accumulation, saving is a secondary function of money and not the main function at all.
The problem of the western economy is precisely that the secondary function of paper (electronic) money as a means of saving has been turned into the main function. And that is not the whole problem. A much bigger problem is derivative securities, of which there are far more than all the real assets on earth. And we are heading towards the point where the owners of the real assets alone will start demanding only real assets in barter and all paper will turn to dust. And gold will not. Its quantity in the world is very limited, it can't be printed and you can't dramatically increase production either. It is a real limited asset, it doesn't go stale and because of its small quantity it is matched against a large number of other assets. Therefore, by comparing the unit of gold to the units of various commodities, we can find out the price structure of the commodities market. We will be able to answer the question: how many ounces of gold should be given for a Mercedes or an iPhone. By the way, it will turn out that not a single gram of gold will be given for Facebook. Not a gram of gold for the whole emery board either. And the invented world of invented values will descend to the prose of life: watches-pants-bread.
Gold will always remain and paper..... securities... derivative securities .... Let's not forget that the dollar became DOLLAR when the US government promised the world to exchange it for gold on demand. Thirty years later greed ruined a thief.... Now we are just going back to square one.
We have read the textbooks but do not understand a thing :)
The village lives by subsistence agriculture, handicrafts and bartering.
In winter, they make dumplings and put them on ice, in summer they have no time to save them, they have to gather the harvest.
So they make dumplings in their trunks for their dowry.
So the country lives from such small villages, they have no problems, every now and then there is a mobilization, the sword is taken off the wall, the horse is mounted, the outsurmans are hacked and dumplings are made again.
But then industrialization comes. People learn that they can concoct a factory and make pots not by hand but on machines. And everything works without any problems.
I did not mention gold, not even paper money, because I forgot to tell the state, the entire record of who owns what, on chips and computerized.
So tell me, why save money if you do not need it to live? well, a man made pots, handed over to the broker in the exchange (in payment for services again, 2 pots), the broker bought pots for 8 herrings and 16 rosettes.
Okay, let's say a universal measure is needed, but first of all not so universal, let's say one measure for consumer goods, another for equipment, and a third for capital goods.
Why gold? Power does not give power, who does not appreciate gold, it has no power over him. Power is given by the ability to persuade.
Why gold? What is the point of the game?
Gold is a common commodity like any other.
It's relatively rare and therefore expensive.
no more no less
We have read the textbooks, but we don't understand a thing :)
A village lives by subsistence farming, handicrafts and exchange.
In winter, they make dumplings and put them on ice, and in summer they have no time to save them, they have to gather the harvest.
So they make dumplings in their trunks for their dowry.
So the country lives from such small villages, they have no problems, every now and then there is a mobilization, the sword is taken off the wall, the horse is mounted, the outsurmans are hacked and dumplings are made again.
But then industrialization comes. People learn that they can concoct a factory and make pots not by hand but on machines. And everything works without any problems.
I did not mention gold, not even paper money, because I forgot to tell the state, the entire record of who owns what, on chips and computerized.
So tell me, why save money if you do not need it to live? well, a man made pots, handed over to the broker in the exchange (in payment for services again, 2 pots), the broker bought pots for 8 herrings and 16 rosettes.
Okay, let's say a universal measure is needed, but first of all not so universal, let's say one measure for consumer goods, another for equipment, and a third for capital goods.
Why gold? Power does not give power, who does not appreciate gold, it has no power over him. Power is given by the ability to persuade.
Why gold? What is the point of the game?
-)
Sorry.