NationStates Jolt Archive

Yep, folks the $1000 gold ounce we never thought we'd see is near. Those ads crying about $1500 gold are almost 60% there. I've been following precious metals and foreign currency for years now and am somewhat surprised, but also should have seen this coming. I thought the dollar had weakened as far as it really could and gold wouldn't top $1000 and those ads were full of crap, but we could get real close this year.

I remember buying two ounces of silver for fun way back in like 2001 I guess for $4.50 an ounce. I could now sell those for $18...if I knew where they were. Anyone who invested in gold, silver, platinum, or oil is now rolling in money. They return rate is higher than that of the stock market and plain inflation. Back then, gold was $300-350, silver was $4-5, Platinum was $600-700. Just another thing to make me wish I was older and actually thought this out. Bill Gates or Warren Buffet could have turned $40 billion into $200 billion. Not that there's that much silver to speculate in...

For those who are upset being late to the party, there is still a lot of party to go. Silver and gold are easily invested in online and can turnover well in a few months. Oil also is going to rise, but they have a 1000 barrel minimum ($110,000) so people don't fark with it too much.

Oh, here's a link (http://marketwatch.nytimes.com/custom/nyt-com/html-currencies.asp).

and so begins the tooth fueled murders :(

Gold is evil.

... that reminds me...

any one got any old computers or printers that they want to get rid of? I'll pay for the shipping!

... that reminds me...

any one got any old computers or printers that they want to get rid of? I'll pay for the shipping!

Wouldn't shipping be more expensive than any trace amounts of precious metals that could be gleaned? I mean, it's not like my printer is 24 K or anything....

Wouldn't shipping be more expensive than any trace amounts of precious metals that could be gleaned? I mean, it's not like my printer is 24 K or anything....

if you go on a per unit basis... yes.

but if you go with a bulk cost/return (including all pc's found in your town that won't have shipping...)

... that reminds me...

any one got any old computers or printers that they want to get rid of? I'll pay for the shipping!
Burn them like in China and Ghana. Be sure to breathe in the smoke extra deep. It's enlightening and better than pot!

Gold is evil.

Gold is eternal, and the only true source of any real wealth. Dollars, euros, all that are just paper at the end of the day. The only thing you can really hold in your hand and be sure of is gold.

When economies faulter there is always a rush to buy solid and real commodities as a way to escape curency and share bubbles bursting.

This might be a perfect time to sell my golden teeth (http://www.aolcdn.com/red_galleries/teeth-flavor-flav-400a071807.jpg) and go with normal ones for a change.

Gold is eternal, and the only true source of any real wealth. Dollars, euros, all that are just paper at the end of the day. The only thing you can really hold in your hand and be sure of is gold.

When economies faulter there is always a rush to buy solid and real commodities as a way to escape curency and share bubbles bursting.
Okay i've revised my statement.

Gold is eternal thus it is evil.;)

Gold is good! An investment you can sit and watch all day :p

I have time, which they say is gold. Can I sell my time for $999.50?

I have time, which they say is gold. Can I sell my time for $999.50?

Isn't that what we do every day at work, only for a depressingly large amount less than that....

I have time, which they say is gold. Can I sell my time for $999.50?

No sadly not, because Gold is what you sell your time for, so if you sold your time, you would be selling something worth more than any gold.
So if you do sell it it would be worth far more than that. oh and add to that it's impossible but i'll let that one slide for now.

I have time, which they say is gold. Can I sell my time for $999.50?

Depends on the industry you are in. Some peoples time is worth far more then gold and others much less.

Okay i've revised my statement.

Gold is eternal thus it is evil.;)

I don't get the whole ebil gold thing... OsamaGold???

"Gold is good!" :)

Could be a neat lil slogan actually :D

I have time, which they say is gold. Can I sell my time for $999.50?
Just as soon as you can produce an ounce of time, I shall by it from you at double the market rate.

I should explain to my DM that gold has gone up, and therefor, the 47 gold pieces the Gnome I play has should be worth more...
:D
Yes, I am a total dork.

I should explain to my DM that gold has gone up, and therefor, the 47 gold pieces the Gnome I play has should be worth more...
:D
Yes, I am a total dork.

Amigo, "total dork" doesn't even begin to describe this.:D

I don't get the whole ebil gold thing... OsamaGold???

"Gold is good!" :)

Could be a neat lil slogan actually :D

The colour of Gold is good.
Gold itself is eternal, evil and useful thus Gold is similar to a black hole.:D

Gold is eternal, and the only true source of any real wealth. Dollars, euros, all that are just paper at the end of the day. The only thing you can really hold in your hand and be sure of is gold.

When economies faulter there is always a rush to buy solid and real commodities as a way to escape curency and share bubbles bursting.

I just don't understand this kind of worship, this glorification of gold. I understand some people really think the gold standard is the way to go, but isn't all this syrupy pseudo-poetry going a little too far?

It's a metal, dude. It warps and melts and can vaporize just like any other metal. It's shiny. Big deal.

I just don't understand this kind of worship, this glorification of gold. I understand some people really think the gold standard is the way to go, but isn't all this syrupy pseudo-poetry going a little too far?

It's a metal, dude. It warps and melts and can vaporize just like any other metal. It's shiny. Big deal.

hurm you've got me thining i know that's dangerous for me to do but i'll take the risk.

Why is Gold an important part of various economies when you can't do anything with it? It sits there and somehow contributes to monetary value but it's mostly used to make things look better, why is it important?
How does Gold have an effect on a countries economic status?

Why can't folks use something else like some special mix of steal and brass for economic value as well as Gold or instead of it?

I just don't understand this kind of worship, this glorification of gold. I understand some people really think the gold standard is the way to go, but isn't all this syrupy pseudo-poetry going a little too far?

It's a metal, dude. It warps and melts and can vaporize just like any other metal. It's shiny. Big deal.
hurm you've got me thining i know that's dangerous for me to do but i'll take the risk.

Why is Gold an important part of various economies when you can't do anything with it? It sits there and somehow contributes to monetary value but it's mostly used to make things look better, why is it important?
How does Gold have an effect on a countries economic status?

Why can't folks use something else like some special mix of steal and brass for economic value as well as Gold or instead of it?
Gold is VERY stable, unlike steel and brass which wasn't invented until recently and is needed for other things. Gold is almost impossible to dissolve. It actually needs a combination of two acids working together to dissolve it. It's pretty, used in jewelry, etc...

And it's still worth the same as a dollar when you're stranded on a desert island. We ought to adopt the bread standard. ;)

Gold is VERY stable, unlike steel and brass which wasn't invented until recently and is needed for other things. Gold is almost impossible to dissolve. It actually needs a combination of two acids working together to dissolve it. It's pretty, used in jewelry, etc...

So what? There's no need to wax poetic about it.

Crumbs, look at that and to think 18 years ago gold was at the same price as Marijuana (at least in Australia) and now 18 years later Marijuana is at the same price per ounce where as gold has risen over 300%.

The commodity cycle is getting old, and there are signs of a bona fide bubble in a lot of basic commodities as well as a major shift downward in demand (a -2.7% decline in US oil demand year over year with no special factors is a colossal drop). In the early 1980's, there was a recession (and a nasty one at that, easily the worst since the Depression) and the entire complex collapsed. In two years, the price of oil fell from over $900 to $300, and oil collapsed from around $40 to $10.

If you're not careful, you're going to get burned. Commodities aren't going to go up forever, and signs are getting pretty strong that they're not going to go up much longer.

Gold is VERY stable, unlike steel and brass which wasn't invented until recently and is needed for other things. Gold is almost impossible to dissolve. It actually needs a combination of two acids working together to dissolve it. It's pretty, used in jewelry, etc...

Ok, time for a chem lesson:

Gold is an element. Steel and brass are alloys.

Alloys can be reduced to their constituent metals simply by heating them up enough. Gold on the other hand cannot be broken down at all; it is already in its fundamental state. To "dissolve" gold you would have to heat it up, then mix in a salt and a catalyst, to incite a replacement reaction wherein the gold would turn into a kind of gold salt. (Of course, it's also possible to dissolve gold in a solvent, such as acid, but technically that doesn't count, as you can still recover the gold by boiling off the solvent.)

Anyway: I agree with GT. But gold is rare, which makes it valuable. If gravel were rare, it would be approaching $1000 an ounce too. Carry on.

The commodity cycle is getting old, and there are signs of a bona fide bubble in a lot of basic commodities as well as a major shift downward in demand (a -2.7% decline in US oil demand year over year with no special factors is a colossal drop). In the early 1980's, there was a recession (and a nasty one at that, easily the worst since the Depression) and the entire complex collapsed. In two years, the price of oil fell from over $900 to $300, and oil collapsed from around $40 to $10.

If you're not careful, you're going to get burned. Commodities aren't going to go up forever, and signs are getting pretty strong that they're not going to go up much longer.
That's what was said when it was at $600 and we're just at the start of an economic downturn. Sure, it will go down in price, but it's not for at least a year. Especially if oil keeps going up and the status quo remains geopolitically. There's honestly too much shit going on in the world, not to mention oil demand has increase by epic amounts since China and India have come onboard.

Ok, time for a chem lesson:

Gold is an element. Steel and brass are alloys.

Alloys can be reduced to their constituent metals simply by heating them up enough. Gold on the other hand cannot be broken down at all; it is already in its fundamental state. To "dissolve" gold you would have to heat it up, then mix in a salt and a catalyst, to incite a replacement reaction wherein the gold would turn into a kind of gold salt. (Of course, it's also possible to dissolve gold in a solvent, such as acid, but technically that doesn't count, as you can still recover the gold by boiling off the solvent.)
Why are you attacking me? And gold cannot be dissolved or destroyed easily. As I said, it takes two acids, working together to dissolve it. They happen to be hydrochloric and nitric. The mixture is called aqua regia "royal water" because only it ould dissolve "royal" metals.

I have time, which they say is gold. Can I sell my time for $999.50?

Maybe (http://en.wikipedia.org/wiki/Eliot_Spitzer_prostitution_scandal).

Crumbs, look at that and to think 18 years ago gold was at the same price as Marijuana (at least in Australia) and now 18 years later Marijuana is at the same price per ounce where as gold has risen over 300%.

So would adopting the Toke Standard help prevent inflation?

Why are you attacking me? And gold cannot be dissolved or destroyed easily. As I said, it takes two acids, working together to dissolve it. They happen to be hydrochloric and nitric. The mixture is called aqua regia "royal water" because only it ould dissolve "royal" metals.

Not attacking you, just commenting. And yeah, it seems you've remembered the name of the solvent better than I have. We seem to agree anyway: gold is rare and hard to get rid of, hence, it's valuable. Whether it happens to be useful is not the point here -- brand name on a tourist's shirt is worth about $500, and it certainly doesn't do anything practical, it doesn't even light up or solve math problems for heaven's sake.

And it's still worth the same as a dollar when you're stranded on a desert island. We ought to adopt the bread standard. ;)

What'll you give me for an herbed focaccia w/mozzarella and a loaf of mixed grain w/honey?

Fresh from the oven!