Politics

[Cervus elaphus]

IMO a value or liquid asset hedge. I think the Colt revolver relative value is a good analogy of how currencies work. Gold seems to be a universal currency and is somewhat immune form the inflation pressure caused by printing money. It is of limited quantity and the ability to mine is throttled and limited by the nature of it's scarcity so it automatically works opposite an inflating currency. If alchemy worked, then it would be no different than printed money.

There is some flexibility in gold prices with Russia having the largest gold reserves and able to influence prices, if they want to, however they are mindful of not cutting their economic throats. Pepper was once the gold standard, in times of strife, guns and tobacco, and I would be keeping that in mind. cheers

 

[Cervus elaphus]

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(or a democrat)

 

[lwaters]

Long term gold doesn't look to good

 

[CoElkHunter]

Well, in todays' Covid world, apparently the theft of catalytic converters for their precious metals is the new craze. Platinum, palladium and rhodium are the metals the thieves are after and are getting several hundred dollars or more for each stolen converter. Thefts of the converters here are up 3,400% from last year, and are being stolen faster than Townsend Nelson can reload a box of .35 Whelens. Apparently, rhodium is the most rare of the noble metals. It's current price is $586US per GRAM. There are 1-2 grams in each converter. Why is this pertinent to the Politics thread here? Because, 80% of the world's supply/export of rhodium is from South Africa. It's no wonder China is "benevolently" willing to invest in Africa.

 

[fourfive8]

"Benevolent" is right!! I think they strip mine the rare earths around the world as fast as corrupt politicians can sign the paperwork.

Investing in gold to make money is a mistake. Investing in gold to diversify and hedge against inflation and a bear market is not a mistake. The only folks who are guaranteed to make out in the long run with any market investment, are the brokers who get paid a % of the transaction of clients buying or selling equities whether those equities have made money or lost money for the client.

 

[Hunter4752001]

I tend to invest in lead, copper and nitrocellulose. Unfortunately my stock holdings seem to self-diminish, even though the price per item increases.

 

[Kevin Peacocke]

The mad time will pass, it will be swept out to brood in the gutter waiting for another brood of gullible liberals to feed upon.

 

[Cervus elaphus]

Well, in todays' Covid world, apparently the theft of catalytic converters for their precious metals is the new craze. Platinum, palladium and rhodium are the metals the thieves are after and are getting several hundred dollars or more for each stolen converter. Thefts of the converters here are up 3,400% from last year, and are being stolen faster than Townsend Nelson can reload a box of .35 Whelens. Apparently, rhodium is the most rare of the noble metals. It's current price is $586US per GRAM. There are 1-2 grams in each converter. Why is this pertinent to the Politics thread here? Because, 80% of the world's supply/export of rhodium is from South Africa. It's no wonder China is "benevolently" willing to invest in Africa.

Not just Africa but the CCP is interested in NZ and Australia, both countries with gold and minerals, coal etc. The Pacific islands where they are building infrastructure for the poor nations have fishing available in exchange, or naval bases for future expansionism. I'm sticking with gold for the long term, keeping not trading.

 

[sgt_zim]

IMO a value or liquid asset hedge. I think the Colt revolver relative value is a good analogy of how currencies work. Gold seems to be a universal currency and is somewhat immune from the inflation pressure caused by printing money. It is of limited quantity and the ability to mine is throttled and limited by the nature of it's scarcity so it automatically works opposite an inflating currency. If alchemy worked, then it would be no different than printed money.

You have hit upon the difference between [honest] money and currency. Note that they are not the same thing, though they do share characteristics (fungible, portable, divisible, etc.). The one truly unique characteristic of money is that it preserves value over time, and currency does not (this is a "feature" of currency, not a bug).

If you're interested in that sort of thing, there's a YT channel by Mike Maloney - he did a 10-part series called "the hidden secrets of money." I think that was just an eye-catcher, because he goes into pretty good detail to demonstrate there really aren't any secrets. All of this is known, and has been known for centuries.

 

[sgt_zim]

Not just Africa but the CCP is interested in NZ and Australia, both countries with gold and minerals, coal etc. The Pacific islands where they are building infrastructure for the poor nations have fishing available in exchange, or naval bases for future expansionism. I'm sticking with gold for the long term, keeping not trading.

I would encourage you to acquire silver coinage in addition to the gold. The reason is simple. Silver coins are easier to spend.

Think about the pistol analogy - $20 gold eagle, even back in the day when that price was the case, the average man had to work about 33 or 34 hours to earn $20 (this is around 1920 or so, not 19th century). There's a lot of value in 33 or 34 hours of labor. There's enough value in my labor to make my house note on that amount of time. That's a lot of money, but I only spend that amount of money once a month, and it's only on my mortgage.

Your day-to-day needs will be easily covered by silver, and few will have the change to break the equivalent value of $10 or $20 gold eagle.

I just seems to me that your end game would be converting gold to what will eventually be worthless AUD anyway. If it's THAT bad, nobody will be using the AUD anymore for anything, and the gold will be difficult to spend. It would be convenient for the monthly house payment, but not much else.

 

[Cervus elaphus]

I would encourage you to acquire silver coinage in addition to the gold. The reason is simple. Silver coins are easier to spend.

Think about the pistol analogy - $20 gold eagle, even back in the day when that price was the case, the average man had to work about 33 or 34 hours to earn $20 (this is around 1920 or so, not 19th century). There's a lot of value in 33 or 34 hours of labor. There's enough value in my labor to make my house note on that amount of time. That's a lot of money, but I only spend that amount of money once a month, and it's only on my mortgage.

Your day-to-day needs will be easily covered by silver, and few will have the change to break the equivalent value of $10 or $20 gold eagle.

I just seems to me that your end game would be converting gold to what will eventually be worthless AUD anyway. If it's THAT bad, nobody will be using the AUD anymore for anything, and the gold will be difficult to spend. It would be convenient for the monthly house payment, but not much else.

I was thinking that if gold had no more currency, I could melt it down and make soft cast bullets out of it with some help from hardening additives, or make jewelry. I like the colour and feel of gold compared to silver so there's more than pure currency to the metal. I have panned and creviced and found gold nuggets up to pinky fingernail size in the rivers of Westland NZ and got hooked. I'm not looking at the AUD as I'm leaving the country soon. Thanks for your thoughts.

 

[sgt_zim]

gold will always be valued as money, until the day when we can mine it by the thousands of tons from an asteroid or similar.

 

[jpr9954]

 

[Wheels]

Go Sweden!

U.S. Women’s Soccer Team Takes Stunning Loss After Kneeling For BLM At Olympic Opener​

By Amanda Prestigiacomo
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[PARA45]

Go Sweden!

U.S. Women’s Soccer Team Takes Stunning Loss After Kneeling For BLM At Olympic Opener​

By Amanda Prestigiacomo
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Jul 21, 2021 DailyWire.com
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View attachment 413918

If they don't like our country, than maybe they should go represent another country. F*ck them, I'm fed up of their woke BS!

 

[CoElkHunter]

gold will always be valued as money, until the day when we can mine it by the thousands of tons from an asteroid or similar.

I was wrong about rhodium being the most valuable metal. This metal is appropriately named because the 25 million per gram approximates the amount each taxpayer in Californicate will ultimately pay in taxes during their lifetime. Ha! Ha! Ha!

 

[fourfive8]

If they don't like our country, than maybe they should go represent another country. F*ck them, I'm fed up of their woke BS!

Well said! Me too. Haven’t watched a sports event since even before this crap started. Most all are caught up in it now. Don’t miss any of it in the least.

 

[Saul]

Utterly ridiculous

Ben & Jerry's to stop sales in Israeli settlements in occupied territories

It says selling ice cream in the occupied Palestinian territories is “inconsistent" with its values.

www.bbc.com

 

[Boyd Brooks]

Utterly ridiculous

Ben & Jerry's to stop sales in Israeli settlements in occupied territories

It says selling ice cream in the occupied Palestinian territories is “inconsistent" with its values.

www.bbc.com

Didn’t buy the over priced product before and won’t buy it now. They have always been on the wrong side of logic when it comes to social issues.

 

[jeanes]

Didn’t buy the over priced product before and won’t buy it now. They have always been on the wrong side of logic when it comes to social issues.

Besides, Blue Bell is better. And cheaper!