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Author Topic: Once I'm in NH how can I put my life savings in gold?  (Read 16272 times)

Bazil

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #30 on: November 19, 2010, 06:46:23 pm »

I hate chaos, I won't be embracing it.  For economic freedom you don't have to have "chaos" or control.

Well unbacked fiats aren't stable because they are easy to make.  Exactly the reason why governments and banks love them because it makes them easier to control.  When you have control over the currency it's like the economy is a giant video game and you have all the cheat codes.
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rossby

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #31 on: November 19, 2010, 07:11:13 pm »

It satisfies me. Please show me some unbacked fiat that has come as close for as long.

I thought you didn't want to talk about this.   :)

I didn't say I would talk about it. I said I couldn't believe we were talking about it.

Show you some unbacked fiat? Ain't the point.
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #32 on: November 19, 2010, 07:29:10 pm »

Unbacked fiat? 'Fiat' means 'by decree'. If $20.67 USD equals an ounce of gold... it does so 'by decree'.
And they are always 'easy to make'... since a new 'decree' can be issued at any time.

What your suggesting is whether a 'warehouse receipt' is backed by a commodity of equal market value.
Which can be achieved by simply changing all your USD into US nickels.
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #33 on: November 19, 2010, 07:32:37 pm »

Today an ounce of gold is $1400, but I doubt that same worsted wool suit would fetch such a price.

Just a random example:

Quote
A Tailored Suit

2 Piece Bespoke Suit
 
Wool Blend Custom Suit                                 $ 799
Heavy Wool Flannel Custom Suit                 $ 999
100% Virgin Worsted Wool Custom Suit       $ 1099 +
Luxury Custom Suit                                          $ 1499 +

2 Piece Bespoke Suit with extra Trousers
Wool Blend Custom Suit                                  $ 1039
Heavy Wool Flannel Custom Suit                     $1,299 +
100% Virgin Worsted Wool Custom Suit       $1,429 +
Luxury Custom Suit                                             $1,949 +

Hmmm.  Ballpark... Looks approximately on target, considering that this kind of relationship, as has been pointed out, is not rigid.  But the tendency, which is overwhelmingly in favor of gold, does seem to be there.
Its not in favor of Gold, but any durable commodity because of the relative market.
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Bazil

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #34 on: November 19, 2010, 08:25:11 pm »

Unbacked fiat? 'Fiat' means 'by decree'. If $20.67 USD equals an ounce of gold... it does so 'by decree'.
And they are always 'easy to make'... since a new 'decree' can be issued at any time.

What your suggesting is whether a 'warehouse receipt' is backed by a commodity of equal market value.
Which can be achieved by simply changing all your USD into US nickels.

I understand all that, just a slight misstatement on my part.
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antistate1190

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #35 on: November 19, 2010, 08:33:51 pm »

Today an ounce of gold is $1400, but I doubt that same worsted wool suit would fetch such a price.

Just a random example:

Quote
A Tailored Suit

2 Piece Bespoke Suit
 
Wool Blend Custom Suit                                 $ 799
Heavy Wool Flannel Custom Suit                 $ 999
100% Virgin Worsted Wool Custom Suit       $ 1099 +
Luxury Custom Suit                                          $ 1499 +

2 Piece Bespoke Suit with extra Trousers
Wool Blend Custom Suit                                  $ 1039
Heavy Wool Flannel Custom Suit                     $1,299 +
100% Virgin Worsted Wool Custom Suit       $1,429 +
Luxury Custom Suit                                             $1,949 +

Hmmm.  Ballpark... Looks approximately on target, considering that this kind of relationship, as has been pointed out, is not rigid.  But the tendency, which is overwhelmingly in favor of gold, does seem to be there.
Its not in favor of Gold, but any durable commodity because of the relative market.

This is off topic but do mutualists believe in gold as a currency?
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #36 on: November 19, 2010, 09:12:15 pm »

Don't use currency.
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eh?

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #37 on: November 19, 2010, 09:25:33 pm »

Its not in favor of Gold, but any durable commodity...

Partially agree.  Of the "durable commodities" and from the point of view of the preservation of wealth gold has, historically, been the best.  Not perfect, not always and perhaps not this time but, nonetheless, the best.

Quote
...because of the relative market.

Several factors.



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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #38 on: November 19, 2010, 09:50:53 pm »

Historically by what measure? BETA in comparison of other durable commodities?
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antistate1190

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #39 on: November 19, 2010, 10:58:59 pm »

Don't use currency.

So mutualists don't believe in money? What do they believe in using then?
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #40 on: November 19, 2010, 11:05:13 pm »

Mutualist direct trade in commodity.
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antistate1190

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #41 on: November 20, 2010, 01:14:37 am »

Mutualist direct trade in commodity.


Wait - so there's no money in mutualism and we just trade one commodity for another?
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John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #42 on: November 20, 2010, 01:52:20 pm »

Correct.
No one to set standards.

Gold (not as currency - which happens to be the bills) would be exchanged between willing participants within the trade.
« Last Edit: November 20, 2010, 01:55:57 pm by John Edward Mercier »
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eh?

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #43 on: November 20, 2010, 06:45:58 pm »

Historically by what measure?

Rumor, hearsay, reputation, the opinion and reports of people I respect, anecdote, a very small amount of very limited and short duration personal experience and the not insignificant, to me, near total absence of any substantial/significant amount of almost anything even slightly credible in support of the suitability, for the purpose, of anything else.

Quote
BETA in comparison of other durable commodities?

I don't think of gold as a traditional sort of investment so it would make very little sense to me to attempt to apply concepts like alpha or beta or any of the greeks, even if I understood them, to it.  Besides, I haven't done the research and I don't have the data.  Have you done the research and do you have the data?  If yes, please share; I'm all ears.

How do you do the measurement?

What point are you trying to make?
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To advocate compulsory taxation (there is no other kind) is to advocate aggressive violence.
Rare indeed seem those who would rather the lash were banished utterly from human interaction save in defense of self and property
than the haft thereof find on convenient occasion its lawful place nestled comfortably in their own grasp.

John Edward Mercier

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Re: Once I'm in NH how can I put my life savings in gold?
« Reply #44 on: November 20, 2010, 11:28:35 pm »

That the relativity that your presenting is not specific to gold.
That historically gold was less a determinate than silver.
That the data your using is manipulated by decree less than by market.

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