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OneWayTraffic
Joined: 14 Mar 2005
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 Posted: Sun Dec 21, 2008 7:18 pm Post subject: |
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| mole wrote: |
| samcheokguy wrote: |
| The Dollar, Euro, Pound, CHF, and Yen, are all relatively hard currencies. |
About as hard as a digital cyber byte. Or paper.
Worse than that, really, as each fiat unit is an irredeemable I.O.U.
http://www.iousathemovie.com |
Well what's the value of gold then? People never get it. Of course fiat currencies are result of a social contract. Gold doesn't have any real value either. Unless making very good dental fillings counts.
The value of a dollar is that it entitles you to a certain amount of goods and services from the USA. That's a lot harder than a lump of useless yellow metal. |
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mole
Joined: 06 Feb 2003
Location: Act III
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| Posted: Sun Dec 21, 2008 7:25 pm Post subject: |
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| OneWayTraffic wrote: |
| ... Your argument bascially is that "this time it's different." ... |
At least someone understands me. Thank you.
My opposition's argument is that history repeats itself.
Or my Mom's favorite, "I've been through hard times before. Just gotta buckle down and press on."
Had I followed through with that proposed investment, I'd be down a sum I'm not comfortable with.
Leaves too much to chance and out of my control.
And, of course, I have no faith the markets will recover, or even that it's possible for them to recover. |
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mole
Joined: 06 Feb 2003
Location: Act III
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| Posted: Sun Dec 21, 2008 7:59 pm Post subject: |
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| OneWayTraffic wrote: |
| mole wrote: |
| samcheokguy wrote: |
| The Dollar, Euro, Pound, CHF, and Yen, are all relatively hard currencies. |
About as hard as a digital cyber byte. Or paper.
Worse than that, really, as each fiat unit is an irredeemable I.O.U.
http://www.iousathemovie.com |
Well what's the value of gold then? People never get it. Of course fiat currencies are result of a social contract. Gold doesn't have any real value either. Unless making very good dental fillings counts.
The value of a dollar is that it entitles you to a certain amount of goods and services from the USA. That's a lot harder than a lump of useless yellow metal. |
Sigh. Gold is at the bottom of Exter's pyramid because it and it alone is what "things" are valued against. Gold IS money.
Your beloved dollar is being systematically and intentionally debased.
Only gold and silver shall be used as money as per The Constitution.
Perhaps you are a liberal commie pinko believing paper money is OK,
but a Constitution on paper is a set of guidelines.
Before discussing, please at least see the background Zeitgeist. Skip the religious BS if you want.
I also recommend Fiat Paper Money: The History and Evolution of Our Currency by Ralph T. Foster.
"Dedicated to the world's worthless paper money."
We've attempted to do something else and it's failing, like every fiat currency in human history. |
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mike in brasil
Joined: 09 Jun 2003
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| Posted: Tue Dec 23, 2008 7:50 pm Post subject: |
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All the negativity surrounding gold is just the sentiment needed to propel it even higher to the $1400 level.
Once the naysayers start thinking about buying gold then the dollar index will probably be in the high .50's. Then I'll turn a seller.
Jeez, tech stocks traded at insane levels too and you couldn't even whip your butt with it! |
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mike in brasil
Joined: 09 Jun 2003
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| Posted: Tue Dec 23, 2008 7:50 pm Post subject: |
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All the negativity surrounding gold is just the sentiment needed to propel it even higher to the $1400 level.
Once the naysayers start thinking about buying gold then the dollar index will probably be in the high .50's. Then I'll turn a seller.
Jeez, tech stocks traded at insane levels too and you couldn't even whip your butt with it! |
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ntchimy
Joined: 06 Nov 2008
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| Posted: Sat Jan 03, 2009 6:37 am Post subject: |
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| Which books do you think are essential for newb to learn how to invest? |
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the_beaver
Joined: 15 Jan 2003
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| Posted: Sat Jan 03, 2009 6:38 am Post subject: |
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| ntchimy wrote: |
| Which books do you think are essential for newb to learn how to invest? |
One up on Wall Street by Peter Lynch. |
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poet13
Joined: 22 Jan 2006
Location: Just over there....throwing lemons.
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| Posted: Sat Jan 03, 2009 7:02 am Post subject: |
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| Banks in Korea are offering very nice returns if you have a low risk investment threshold. I think about the best in the US is 2.6%. You can get as much as 8.3% (tomato bank?) on time deposits here. I'm getting 6.3% on every 10,000,000 won bond. Doesn't return much, but in this crazy time, it's guaranteed and it's not bad. After taxes, each returns about 532,000won'year. Zero risk being the operative words there. |
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