Global Financial Crisis (2 Viewers)

[zstar]

isn't it below $1 million bank deposits for 3 years?!



why not diamonds, man? how about a diamond standard?

You could but historically gold has been a reliable source of hedging against monetary loss because it IS money. Unlike paper which is abundant and can be printed easily, Gold is relatively rare. You could also have Silver and Copper.


The reason why Gold is down right now is because the governments are trying to suppress its value as the more people buying gold means you're betting against paper money which is obviously what Fiat obsessed governments and bankers don't like.


At the moment there's a deflation and people are going back to the dollar however this is not because there's confidence in the dollar but rather it's all about paying off their debts which were in U.S dollars in the first place and once that has been done and said there will be a massive exit from the U.S dollar and you will see hyperinflation and next year you may see gold reach $9000 an ounce.

 

[Trefoil]

Make circuit boards?

If you want to see something funny, take a look at the official website of the Turkish stock exchange: http://www.ise.org/

 

[youBROKEmyLIFE]

why not diamonds, man? how about a diamond standard?

Yeah why not a tangible standard instead of one that can be diluted, rite?

Fuck man make it a sand standard if need cunting be, but you can't print more sand.

 

[blue_chameleon]

Just throwing this out there, but everyone here knows the difference between real gold and paper gold, and which one represents the gold prices often quoted, right?

Just checking.

 

[Trefoil]

Just throwing this out there, but everyone here knows the difference between real gold and paper gold, and which one represents the gold prices often quoted, right?

Just checking.

haha

 

[stazi]

Gold isn't money wtf...



EDIT: no moreso than fiat currency is money

...yes it is. for jews.

 

[Trefoil]

I actually asked my Jewish friend where he kept his Jew gold when we was drunk once, and he unlocked this little chest and there was a hunk of gold inside.

 

[zstar]

Gold may be rare, but like paper money it has little intrinsic value.

What can you actually do with gold except hoard it and admire how nice and shinny it is?

Gold is the most malleable and ductile metal and is used in dentistry and many electronic devices also use gold. It is resistant to corrosion and a good conductor of heat and electricity.

 

[Trefoil]

Gold is the most malleable and ductile metal and is used in dentistry and many electronic devices also use gold. It is resistant to corrosion and a good conductor of heat and electricity.

That doesn't give it intrinsic value. All of those uses can be replaced, and they certainly aren't the reason we value gold.

 

[BackCountrySnow]

In light of the financial crisis: Are we now, once again, all Keynesians?

And is this the direction we should be heading?

 

[Iron]

Re: In light of the financial crisis: Are we now, once again, all Keynesians?

My name's Keynes, i'm from Cambridge and i'm here to help

 

[BackCountrySnow]

what? why?

If there was no 'in light of the financial crisis' you wouldn't of moved it....

 

[Iron]

Merging is the new order in these troubling times my frien.
Unite to survive

 

[blue_chameleon]

Is this financial crisis the signal of a new world order? Countries leaving the US and its currency out to dry by creating their own currency and backing it against real gold?

The argument looks quite logical and reasonable, for countries like China, Russia, some of Europe and the Arabs to end the troubles forced upon them by the US.

If this gets through, the US (and most probably Aus) will be well and truly screwed.

Opinions?

http://realdealfinancial.blogspot.com/2008/09/gold-backed-rouble.html

http://www.lewrockwell.com/sardi/sardi20.html

 

[MasterPUA]

Is this financial crisis the signal of a new world order? Countries leaving the US and its currency out to dry by creating their own currency and backing it against real gold?

The argument looks quite logical and reasonable, for countries like China, Russia, some of Europe and the Arabs to end the troubles forced upon them by the US.

If this gets through, the US (and most probably Aus) will be well and truly screwed.

Opinions?

http://realdealfinancial.blogspot.com/2008/09/gold-backed-rouble.html

http://www.lewrockwell.com/sardi/sardi20.html

Australian dollars held by foreign nations as a percentage of the total money supply are no where near the levels the US experiences.

What would screw the US is a dumping of their currency. The whole 'conversion into gold' effort is a laughable example of Islamic fundamentalism permeating into finance. The Islamic banking system is certainly nothing to be feared. It is the most uninnovative of all the 'developed' financial systems.

 

[zstar]

Some analysts mentioned that the U.S economy "shrank" by 0.03% but in fact it's correcting itself from all this phony wealth that never existed in the first place.

Now that Bernanke is lowering interest rates to basically zero he is creating the problem that got America into this mess in the first place.

America is borrowing so much money that they will never be able to pay back.

 

[MasterPUA]

Some analysts mentioned that the U.S economy "shrank" by 0.03% but in fact it's correcting itself from all this phony wealth that never existed in the first place.

"Money itself isn't lost or made, it's simply transferred from one perception to another."
- Gordon Gekko

 

[supafaith]

Its really getting scary!

 

[moll.]

Marx, Engels, Trotsky and Lenin would rolling over in their graves.
"The Death Throes of Capitalism" indeed.

 

[cxlxoxk]

lol ok i'm not up to date with economic news, can someone tell me whats been happening with this "Global Financial Crisis" from start to finish (if it has finished)...?

Anyway...

I say people need to be less greedy, you don't need (or need to ask your parents for) a new HD tv, windows vista, swimming pool, or air conditioning. Just spend less, save more, you don't need to live in a mansion and you don't need to eat out every night.

I might be totally wrong, and this might solve the problem. So just fill me in...