Returning to gold standard? - page 4.

greBit

hero member

Activity: 714

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Quote from: The Sceptical Chymist on February 05, 2016, 07:45:39 PM

A return to a gold standard is completely unnecessary. Money doesn't need to be backed by anything, it never did, and it's not likely that we're going to return to that sort of archaic thinking. I do like precious metals in spite of this and I think they're a good way to store value.

Yes this is completely unnecessary I think it's a plan to somehow keep the riches richer and poor poorer

kwukduck

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Activity: 1937

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Ah yes Gold. Thé resource with amazing ~~intrinsic~~ socially constructed value.

yefi

legendary

Activity: 2842

Merit: 1511

Adopting Gold would mean adopting monetary discipline, so for that reason alone it will never happen. We would sooner burn in the sulphurous pits of hell than live frugally.

The Sceptical Chymist

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Merit: 7005

Top Crypto Casino

A return to a gold standard is completely unnecessary. Money doesn't need to be backed by anything, it never did, and it's not likely that we're going to return to that sort of archaic thinking. I do like precious metals in spite of this and I think they're a good way to store value.

rally

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Activity: 630

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Quote from: MatTheCat on February 05, 2016, 07:23:06 PM

Buy Gold now.

Sell when 2 Oz of gold is worth 1 share of the Dow.

If Dow is 5000 and Gold is 2500, Sell your gold.

If Dow 10000 and gold is 5000, Sell your gold.

Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

Gold is something i didn't follow at all until now.
THanks for the info above.
The next days i am going te learn and search a bit more about gold.
Looks interesting.

MatTheCat

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Activity: 840

Merit: 1000

Buy Gold now.

Sell when 2 Oz of gold is worth 1 share of the Dow.

If Dow is 5000 and Gold is 2500, Sell your gold.

If Dow 10000 and gold is 5000, Sell your gold.

Don't delude yourself that the world is going to return to a gold backed currency, but do be sure that Gold will be a store of value long after Bitcoin has vapourised into thin air.

arbitrage

hero member

Activity: 560

Merit: 500

Gold standard refers to a monetary system where the value of a currency is tied to the price of a specific amount of gold. The amount of money supply, then is determined by how much gold you can dig out.

What is your opinion do we have a time for this?
Will this help now when we have economic disaster?
Do you buying gold right now?

“Note that if all the gold in the world was melted down, it would fit in a 67 foot cube”

Topic: Returning to gold standard? - page 4. (Read 3160 times)