Edge Report post Posted March 10, 2020 There's nothing as exhilarating as feeling the thunk of a gold nugget dropped into your palm. 2 Share this post Link to post Share on other sites
oz31p Report post Posted March 10, 2020 Palmetto is still fully stocked. I guess lead’s still a safe investment Share this post Link to post Share on other sites
G_E_E Report post Posted March 16, 2020 On 3/9/2020 at 8:04 PM, Edge said: There's nothing as exhilarating as feeling the thunk of a gold nugget dropped into your palm. I'm just curious, in your opinion why has the value of gold gone up so much? It just seems like it's not something a lot of people flash around so much any more. And if shoot hit the fan to where people are fighting for survival, I don't see the value there as well. More of a global value I guess? Share this post Link to post Share on other sites
Edge Report post Posted March 16, 2020 46 minutes ago, G_E_E said: I'm just curious, in your opinion why has the value of gold gone up so much? It just seems like it's not something a lot of people flash around so much any more. And if shoot hit the fan to where people are fighting for survival, I don't see the value there as well. More of a global value I guess? I can tell you what I was told long ago concerning gold vs currency. It isn't that gold is going up in value but rather the dollar is going down. You can purchase the same goods or services 200 years ago with an ounce of gold that you can get today. But as the dollar buys much less than it did 200 years ago, you need more dollars to buy the same ounce of gold. Probably the major difference between gold and currency is inflation. Inflation doesn't affect gold but annually takes a bite out of the dollar. Watch the Treasure of Sierra Madre someday. The old prospector gives a pretty good accounting of how gold gets its value. 3 Share this post Link to post Share on other sites
Edge Report post Posted March 16, 2020 14 minutes ago, Edge said: I can tell you what I was told long ago concerning gold vs currency. It isn't that gold is going up in value but rather the dollar is going down. You can purchase the same goods or services 200 years ago with an ounce of gold that you can get today. But as the dollar buys much less than it did 200 years ago, you need more dollars to buy the same ounce of gold. Probably the major difference between gold and currency is inflation. Inflation doesn't affect gold but annually takes a bite out of the dollar. Watch the Treasure of Sierra Madre someday. The old prospector gives a pretty good accounting of how gold gets its value. Found it... Share this post Link to post Share on other sites
daryl_s Report post Posted March 16, 2020 15 minutes ago, Edge said: I can tell you what I was told long ago concerning gold vs currency. It isn't that gold is going up in value but rather the dollar is going down. You can purchase the same goods or services 200 years ago with an ounce of gold that you can get today. But as the dollar buys much less than it did 200 years ago, you need more dollars to buy the same ounce of gold. Probably the major difference between gold and currency is inflation. Inflation doesn't affect gold but annually takes a bite out of the dollar. I lived in Argentina during the economic collapse of 2001 and I watched their country’s money fall by 300% overnight. I lived it the same as any other Argentine citizen living there at the time. Hyper inflation was only days behind. There’s no better economics lesson than the one you experience firsthand. Share this post Link to post Share on other sites
Edge Report post Posted March 16, 2020 1 minute ago, daryl_s said: I lived in Argentina during the economic collapse of 2001 and I watched their country’s money fall by 300% overnight. I lived it the same as any other Argentine citizen living there at the time. Hyper inflation was only days behind. There’s no better economics lesson than the one you experience firsthand. Yikes Glad you're ok Share this post Link to post Share on other sites
daryl_s Report post Posted March 16, 2020 3 minutes ago, Edge said: Yikes Glad you're ok I mentioned that because it validates what you were saying about gold. Banks quickly ran out of money and each province started printing their own “money”. The money from economically weaker provinces naturally was worth less than money from stronger provinces. It was a major disaster. 1 Share this post Link to post Share on other sites
Edge Report post Posted March 16, 2020 157 years ago the CSA was here in AZ and trying to pay for their provisions with Confederate script. The citizenry wanted gold or silver but was forced to take the worthless script at the end of a bayonet. 1 Share this post Link to post Share on other sites
