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theprof00 on 15 November 2011
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snakenobi said:
theprof00 said:


gold only remins high while there is trouble.

However, in the last three years, gold has acted more like an equity than a commodity, rising and falling with the SYP.

The only demand is people freaking out. It's overvalued.

The entire logic behind this argument is based on the values of past generations.

Oh and don't forget that if we spurn China, they will definitely take matters into their own hands. They won't let us fall. They will be bargained with.

bargained,yeah

 

but if the FED is closed and that whats gonna happen then GOLD prices will go high

what do you think,they will just let US issue dollar forever,hell the world won't and americans won't themselves as they have to pay for the debt

You show me how that will happen.

You act like we're the only people that print money! Ever heard of inflation?

The whole point of inflation is BAM we just printed 8 trillion dollars out of nowhere. The debt to China is exactly 8 trillion. Of course, now the dollar is worth 15 cents, but now the debt is paid, millions of millionaires go poor in a weekend, and everyone is back at the starting line where, guess what, nobody can afford gold, and food is the most important resource, and liquor the most important luxury.

The previous was a hypothetical according to your theory. The fact of the matter is that oil independance is on the horizon (within 30 years), nationalism is up, local is up, mercantilism is seeing a rise, militarism is ending in reconstruction (american jobs overseas), and actually unemployment is down. There is also movement away from superficial luxuries like gold as actual luxuries. The new generation is changing things.

The logic you spout makes perfect sense comign from a 50 year old professor who still believes that people like to buy gold jewelry. But look at the times. Gold was the lowest in the nineties, and look at the culture. Rap, hip hop, rock, all about wearing gold and luxuries. Look who's popular now, indie bands from Iowa wearing beads and local everything.

Your whole train of thought comes from someone who lived 50 years ago.