Because long time ago when there wasn't any coin dollar came up.
And exchanged this piece of paper for gold.
From that day the price most of the time is from usa, correct me if i am wrong, i saw a documentary for this.
Topic: Why has the world agreed that an ounce of gold is worth 50 U.S. dollars? - page 2. (Read 1573 times)
October 28, 2015, 12:34:55 PM
October 28, 2015, 12:26:19 PM
Agreement on prices is a joke. That's how you get shit collapsing. The only true worth is pure supply and demand as delivered by a free market. That's why Bitcoin is unique, it doesn't get as free as it. I would rather deal with a bigger volatile price than a artificially fixed price that has a nice round number. You end up paying for it.
October 28, 2015, 10:27:30 AM
Because the quantity of dollars is 50 times bigger than the quantity of gold. For example if the total gold in the world is 50.000.000 ounces and the total dollars are 2.500.000.000 then 1 ounce of gold = total dollars/total gold = 50 dollars.
There are actually five billion US dollars in the world, not counting the 1340 billion dollars in U.S. federal reserve notes. And there are 3,8 billion ounces of gold in the world. So the price should be 365 dollars per ounce of gold. But I guess other countries money supply should be included too, since we are talking about the entire worlds gold then we should also include the worlds total supply of money. Which makes gold worth a lot more...
I gave you an explanation about how parities should work based on logic. But there is no logic in the banking scam system.
October 28, 2015, 08:03:42 AM
Because the quantity of dollars is 50 times bigger than the quantity of gold. For example if the total gold in the world is 50.000.000 ounces and the total dollars are 2.500.000.000 then 1 ounce of gold = total dollars/total gold = 50 dollars.
There are actually five billion US dollars in the world, not counting the 1340 billion dollars in U.S. federal reserve notes. And there are 3,8 billion ounces of gold in the world. So the price should be 365 dollars per ounce of gold. But I guess other countries money supply should be included too, since we are talking about the entire worlds gold then we should also include the worlds total supply of money. Which makes gold worth a lot more...
October 28, 2015, 07:24:26 AM
Its like asking why has the world agreed over the cost of diamond which is around $ 10,129 per 6 karat diamond.
October 28, 2015, 04:50:43 AM
Because the quantity of dollars is 50 times bigger than the quantity of gold. For example if the total gold in the world is 50.000.000 ounces and the total dollars are 2.500.000.000 then 1 ounce of gold = total dollars/total gold = 50 dollars.
October 28, 2015, 02:15:31 AM
Not agree
October 27, 2015, 04:21:39 PM
I am wondering why has the world agreed that an ounce of gold is worth 50 U.S. dollars?
Even in other currencies this price stamped on the one ounce gold coin holds true. Like the chinese panda, 500 yuan which is basically, approximately 50 USD. And the silver ounce is worth 5 USD... or similare amounts in other currencies... if you stack, you know this... it's like price hasn't moved since the 1940's... what do the banks and governments know that we don't? Are they planning to confiscate it all for that amount for each coin?
Or would they just confiscate the gold and let us peasants keep our silver...?
Even in other currencies this price stamped on the one ounce gold coin holds true. Like the chinese panda, 500 yuan which is basically, approximately 50 USD. And the silver ounce is worth 5 USD... or similare amounts in other currencies... if you stack, you know this... it's like price hasn't moved since the 1940's... what do the banks and governments know that we don't? Are they planning to confiscate it all for that amount for each coin?
Or would they just confiscate the gold and let us peasants keep our silver...?
This post reserved while I contact the proper authorities.
Hello 
Just thought I'd say hi.
I have a little fiat currency coming in every month (just like the rest of you...) and am going to diversify to spread my risk and am now buying bitcoins. I have a few gold coins and a few kilos of silver coins for safety in "real life" now I want bitcoins too.
Just thought I'd say hi.
I have a little fiat currency coming in every month (just like the rest of you...) and am going to diversify to spread my risk and am now buying bitcoins. I have a few gold coins and a few kilos of silver coins for safety in "real life" now I want bitcoins too.
Okay, I just got off the phone, TCK, and they told me to tell you to please stay put till they arrive in a few minutes. Also, what color straitjacket do you prefer?
October 27, 2015, 04:09:37 PM
I am wondering why has the world agreed that an ounce of gold is worth 50 U.S. dollars?
Even in other currencies this price stamped on the one ounce gold coin holds true. Like the chinese panda, 500 yuan which is basically, approximately 50 USD. And the silver ounce is worth 5 USD... or similare amounts in other currencies... if you stack, you know this... it's like price hasn't moved since the 1940's... what do the banks and governments know that we don't? Are they planning to confiscate it all for that amount for each coin?
Or would they just confiscate the gold and let us peasants keep our silver...?
Even in other currencies this price stamped on the one ounce gold coin holds true. Like the chinese panda, 500 yuan which is basically, approximately 50 USD. And the silver ounce is worth 5 USD... or similare amounts in other currencies... if you stack, you know this... it's like price hasn't moved since the 1940's... what do the banks and governments know that we don't? Are they planning to confiscate it all for that amount for each coin?
Or would they just confiscate the gold and let us peasants keep our silver...?
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