[Zambini]

Originally Posted by johnleeknoefler ↗

Actually you are the one who fails to understand. The value of the Federal Reserve note will continue to decline into utter worthlessness. Can you still trade $32.00 of federal reserve notes for an ounce of gold? And yet that was the exchange rate when the gold was first confiscated. If you hold onto a dollar will it buy the same thing in ten years that it can buy today? Or that it bought 80 years ago? Of course not. But precious metals will. Sure you can buy goods with fiat currency. You can do the same in Zimbabwe. But today you would need an astronomical amount of fiat currency there to buy gold. Germany was the same way. In fact it got to the point that before the fall of the Berlin wall refugees fleeing East Germany would toss their worthless currency out the train windows. The game was seen to be over when transportation workers began hauling the piles of currency away in wheelbarrows and large waste cans. The Berlin wall fell soon after. Yes, They threw their "money" to the street. And you could still buy gold with it. You don't get the point. I already understand it from one end to the other.
Most East Berliners finally got the point, unlike you. Study history.

No John, you don't understand.

Gold has no intrinsic value, it produces nothing nor pays a dividend. It is part of the monetary system, it's only value is what someone else will pay for it.

The return from investing in gold is inherently conditional on what another investor paying a higher price for it than you did.

You can dance around the subject all you want, rant about the federal reserve til you are blue in the face(which, by the way, plays a huge role in assigning gold it's "value").

It has no intrinsic value, gold, it is traded as a commodity on the stock market, and it's historic returns are abysmal, only attractive to uneducated suckers like you.

Only fools like shiny rocks and metal.

[johnleeknoefler]

Originally Posted by Zambini ↗

No John, you don't understand.

Gold has no intrinsic value, it produces nothing nor pays a dividend. It is part of the monetary system, it's only value is what someone else will pay for it.

The return from investing in gold is inherently conditional on what another investor paying a higher price for it than you did.

You can dance around the subject all you want, rant about the federal reserve til you are blue in the face(which, by the way, plays a huge role in assigning gold it's "value").

It has no intrinsic value, gold, it is traded as a commodity on the stock market, and it's historic returns are abysmal, only attractive to uneducated suckers like you.

Only fools like shiny rocks and metal.

The Most Useful Metal


Of all the minerals mined from the Earth, none is more useful than gold. Its usefulness is derived from a diversity of special properties. Gold conducts electricity, does not tarnish, is very easy to work, can be drawn into wire, can be hammered into thin sheets, alloys with many other metals, can be melted and cast into highly detailed shapes, has a wonderful color and a brilliant luster. Gold is a memorable metal that occupies a special place in the human mind.

When Spanish explorers first arrived in the "New World" they met the native South Americans. These two cultures had been separated by a vast ocean, they had never touched one another, they spoke different languages and lived entirely different lives. Yet they had one thing in common - they both held gold in highest esteem and used it to make some of their most important objects.

Uses of Gold in Electronics

The most important industrial use of gold is in the manufacture of electronics. Solid state electronic devices use very low voltages and currents which are easily interrupted by corrosion or tarnish at the contact points. Gold is the highly efficient conductor that can carry these tiny currents and remain free of corrosion. Electronic components made with gold are highly reliable. Gold is used in connectors, switch and relay contacts, soldered joints, connecting wires and connection strips.

A small amount of gold is used in almost every sophisticated electronic device. This includes: cell phones, calculators, personal digital assistants, global positioning system units and other small electronic devices. Most large electronic appliances such as television sets also contain gold.

One challenge with the use of gold in very small quantities in very small devices is loss of the metal from society. Nearly one billion cell phones are produced each year and most of them contain about fifty cents worth of gold. Their average lifetime is under two years and very few are currently recycled. Although the amount of gold is small in each device, their enormous numbers translate into a lot of unrecycled gold.

Use of Gold in Dentistry

How would iron work as a dental filling? Not very well... your dentist would need blacksmithing tools, your smile would be rusty a few days after a filling and you would need to get used to the taste of iron. Even at much higher expense, gold is used in dentistry because of its superior performance and aesthetic appeal. Gold alloys are used for fillings, crowns, bridges and orthodontic appliances. Gold is used in dentistry because it is chemically inert, nonallergenic and easy for the dentist to work.

Gold is known to have been used in dentistry as early as 700 B.C. Etruscan "dentists" used gold wire to fasten replacement teeth into the mouths of their patients. Gold was probably used to fill cavities in ancient times, however there is no documentation or archaeological evidence for this use of gold until a little over 1000 years ago.

Gold was much more generously used in dentistry up until the late 1970's. The sharp run-up of gold prices at that time motivated the development of substitute materials. However, the amount of gold used in dentistry is starting to rise again. Some motivation for this comes from concerns that less inert metals might have an adverse effect on long-term health.

Medical Uses of Gold

Gold is used as a drug to treat a small number of medical conditions. Injections of weak solutions of sodium aurothiomalate or aurothioglucose are sometimes used to treat rheumatoid arthritis. Particles of a radioactive gold isotope are implanted in tissues to serve as a radiation source in the treatment of certain cancers.

Small amounts of gold are used to remedy a condition known as Lagophthalmos, which is an inability of a person to close their eyes completely. This condition is treated by implanting small amounts of gold in the upper eyelid. The implanted gold "weights" the eyelid and the force of gravity helps the eyelid close fully.

Radioactive gold is used in diagnosis. It is injected in a colloidal solution that can be tracked as a beta emitter as it passes through the body. Many surgical instruments, electronic equipment and life-support devices are made using small amounts of gold. Gold is nonreactive in the instruments and is highly reliable in the electronic equipment and life-support devices.

Uses of Gold in Aerospace

Photo of one of the James Webb Space Telescope's primary mirror segments being coated with gold by Quantum Coating Incorporated. Photo by Drew Noel, NASA.

If you are going to spend billions of dollars on a vehicle that when launched will travel on a voyage where the possibility of lubrication, maintenance and repair is absolutely zero, then building it with extremely dependable materials is essential. This is exactly why gold is used in hundreds of ways in every space vehicle that NASA launches.

Gold is used in circuitry because it is a dependable conductor and connector. In addition, many parts of every space vehicle are fitted with gold-coated polyester film. This film reflects infrared radiation and helps stabilize the temperature of the spacecraft. Without this coating, dark colored parts of the spacecraft would absorb significant amounts of heat

Gold is also used as a lubricant between mechanical parts. In the vacuum of space, organic lubricants would volatilize and they would be broken down by the intense radiation beyond Earth's atmosphere. Gold has a very low shear strength and thin films of gold between critical moving parts serves as a lubricant - the gold molecules slip past one another under the forces of friction and that provides a lubricant action.

Uses of Gold in Glassmaking


Gold has many uses in the production of glass. The most basic use in glassmaking is that of a pigment. A small amount of gold suspended in the glass when it is annealed produces a rich ruby color.

Gold is also used when making specialty glass for climate controlled buildings and cases. A small amount of gold dispersed within the glass or coated onto the glass surface will reflect solar radiation outward, helping the buildings stay cool in the summer, and reflect internal heat inward, helping them stay warm in winter.

The visor on the helmet of an astronaut's space suit is coated with a very thin film of gold. This thin film reflects much of the very intense solar radiation of space, protecting the astronaut's eyes and skin.

Trump Tower windows with gold film to reduce heat in Las Vegas

Financial Gold: Coinage, Bullion, Backing

Because gold is highly valued and in very limited supply it has long been used as a medium of exchange or money. The first known use of gold in transactions dates back over 6000 years. Early transactions were done using pieces of gold or pieces of silver. The rarity, usefulness and desirability of gold make it a substance of long term value. Gold works well for this purpose because it has a high value, is durable, portable and easily divisible.

Also keep in mind that when market demand for gold increases people begin to put more into the system. This creates wealth.
By the way, I also use gold in my work:



This plate displays the deep ruby red of gold pigment.

[Zambini]

Very good, you can cut and paste.





Thanks for confirming it is really only used as money, as an investment it just sits in the bank vault, producing no value other than what someone else will pay for it.

You didn't tell me you were buying it to manufacture windows and electronics with it, but if you were I'm sure you wouldn't invest your earnings in gold.

You've proven you can cut and paste, why don't you educate yourself on the financial definition of intrinsic value and post the historical value and returns of gold vs say of the S&P 500 over the last 100 years or longer if you like and then tell us just what a great investment it is.

Education, John, is what you need, learn the definition of intrinsic value from a financial perspective, which is what we are discussing.

Your Nat Geo type documentary on the various uses of gold is very sophomoric.

[Seven Of Nine]

Gold is just a 'thing' that someone, long ago, decided appeared more pleasant than other 'things' like rocks or wood. It's just a thing, not unlike paper printed to represent a trading unit (money).

You can't, on one hand, declare that paper money and coin are only 'money' of a certain value because we 'say they are' but on the other hand say that gold is actually worth something. It's not. It's only worth what we say it is worth BECAUSE we say it is worth something, not because it is. It's worth as much as we want it to be worth and if someone had decided thousands of years ago to covet tree bark instead of gold, you might find yourself investing in tree bark today.

Just sayin'

[Zambini]

A dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998 be worth just 78 cents.

[mengala]

[Thefear]

great find. i've always been interested in the minimalist ideal. never actually took it into practice though... one day....one day.

[Zambini]

Originally Posted by mengala ↗

.'US dollar will collapse in 2013' .

Published on Jan 3, 2013

A prominent economist tells Press TV that the United States so-called fiscal cliff is more like a 'bottomless pit of debt' that the country is diving into. He also added that the United States risks collapsing of dollar in 2013. US President Barack Obama has signed into law a bill backed by the Senate that averted the so-called fiscal cliff, the White House says. Obama signed the 'American Taxpayer Relief Act of 2012' on Wednesday, the White House said in a statement. On January 1, the House of Representatives voted 257 to 167, approving the bill, which consists of raising taxes on the wealthiest Americans, while exempting others who earn less than $450,000 a year. It will also put off 109 billion dollars in budget cuts for two months.

To further discuss the issue, Press TV's News Analysis program has conducted an interview with Max Keiser, a journalist and broadcaster in London, Eric Draitser, founder of stopimperialism.com in New York, and Rollin Amore who is an economist and political commentator in Washington.

Put all your investments and savings into gold if you feel that way. Don't forget to build or rent a vault and hire someone to watch it for you, which eats substantially into your profits.

If you are buying gold stocks or mutual funds, then your investment is in dollars invested in gold companies.

If you are really concerned for a collapse, invest in guns and ammo ( not to shoot anyone with, the returns are excellent), food, drugs, medicine tobacco and alcohol. These items will be in great demand and will command premium prices, just as assault rifles and magazines do now.

As we speak, people have gold, but assault rifles can't be found.

We all know the global economy is a house of cards waiting to fall.

Those of us that saw the assault weapons and magazine ban coming have made a killing.

Wait til people can't get food or recreational and medicinal drugs, those gold bars won't be worth shit to the hungry , drunks or crackheads,

[RedneckR0nin]

After watching a second time I say good for him. His choice...his right to do so and I admire the liberty he has.
For myself the way life is now...with banks, finance,human condition is how it is...I'm fairing alright and like all fear what I don't know. I'm not going to do what he did no matter how much I admire his actions because if I mirrored them my life's dreams would not be accomplished.

[michmi]

Originally Posted by Zambini ↗

The whole universal money/value system is based on faith.

Thank you. John doesn't understand that if tomorrow the world suddenly decided that pieces of shit were worth something, it's the same as gold being worth something.

The concept of money is in man's mind.