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If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?

 
Anonymous Coward
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08/09/2012 03:16 PM
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If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
How is it that a dollar can loose 220% of its value and still be in circulation and able to sustain our economy. Is it possible that the media has such control over the masses that they will only accept the fact that their money is worthless only when the facts are acknowledged by the establishment ! GO FIGURE!!
Oh what a tangled web we weave those who practice to deceive.
Really someone please explain how this is possible?
Anonymous Coward
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08/09/2012 03:18 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
the dollar has never existed...
Anonymous Coward
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08/09/2012 03:20 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
How? Chutzpah, that's how. And desperation, yeah that too.
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08/09/2012 03:20 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
I don't think you understand how the futures market differs from currency.
Anonymous Coward
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08/09/2012 03:21 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
The dollar is not tied to gold, and gold is just as worthless as the dollar is. Unless you are using it for something, it is just something shiny.

The reason the dollar is in existence and it hasn't lost 220% of its value is because not all commodities changed price at the same rate or even in the same direction. Gold prices are just higher than they should be because a lot of people buy gold during recessions, since they feel like it is a safe asset.

When SHTF though, gold will be worthless. Remember, you can't eat that gold brick. Bread will be king.
Revguard

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08/09/2012 03:21 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Fiat Money.


There was a time when we had something called "Green Backs". A currency backed by gold, and not controlled by "outside banks".

Banking cartels didnt like that, so they no longer exist.


Go google "green backs".

Money is the biggest scam ever.

Last Edited by Revguard on 08/09/2012 03:22 PM
Anonymous Coward
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08/09/2012 03:28 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Green backs are just as worthless as federal reserve notes. Can you eat a loaf of bread? What is gold worth to you other than something you can trade for something you can actually use? Your gold is only worth what it is because of the same lies that make that federal reserve note worth something.
Anonymous Coward (OP)
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08/09/2012 03:43 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
All semantics aside, futures, currency etc. If the media would announce this Monday " Black Monday Depression II starts today " the world would go into turmoil.
It is sad humanity has evolved to that level where an outside source dictates your reality.
Better take charge of your reality now before SHTF or you will not be able to cope.
Mukk1234

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08/09/2012 03:50 PM

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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
The dollar is not tied to gold, and gold is just as worthless as the dollar is. Unless you are using it for something, it is just something shiny.

The reason the dollar is in existence and it hasn't lost 220% of its value is because not all commodities changed price at the same rate or even in the same direction. Gold prices are just higher than they should be because a lot of people buy gold during recessions, since they feel like it is a safe asset.

When SHTF though, gold will be worthless. Remember, you can't eat that gold brick. Bread will be king.
 Quoting: Anonymous Coward 9664906


If gold is worthless then why is every country buying it like crazy. Gold can and will be used in barter if TSHF. It has been that way for thousands of years. Also you can eat gold. You ever hear of white powdered gold?
Anonymous Coward
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08/09/2012 03:57 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
The dollar is not tied to gold, and gold is just as worthless as the dollar is. Unless you are using it for something, it is just something shiny.

The reason the dollar is in existence and it hasn't lost 220% of its value is because not all commodities changed price at the same rate or even in the same direction. Gold prices are just higher than they should be because a lot of people buy gold during recessions, since they feel like it is a safe asset.

When SHTF though, gold will be worthless. Remember, you can't eat that gold brick. Bread will be king.
 Quoting: Anonymous Coward 9664906


If gold is worthless then why is every country buying it like crazy. Gold can and will be used in barter if TSHF. It has been that way for thousands of years. Also you can eat gold. You ever hear of white powdered gold?
 Quoting: Mukk1234


They buy it for the same reason they buy US currency. Because it has been assigned a value that people agree upon and then use it for trade. If this is the only justification you can provide for the inherent value of gold, then that implies a federal reserve note also has an inherent value.

Also, perhaps I should have clarified when I said you can't eat it. I mean you can't eat it and survive on a diet of it.
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08/09/2012 05:10 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Money is best thought of as a way to motivate production.

Money is intimately connected with energy; the availability and lack there-of. So, money is also a physical representation of ignorance and of limited knowledge. Energy is ultimately infinite; yet our ignorance produces a perception of lack. Think of money as a coin, where one side is ignorance, the other side is knowledge. The product of this ignorance and knowledge yields a certain finite amount of energy.

To say that money was backed by gold is like saying that money was backed by labor (human or animal), when the only available energy to produce goods was through the means of this labor. This has changed during the course of human evolution; profoundly so during the industrial revolution. We now rely heavily on coal and oil as ways to motivate production. Through science our knowledge has evolved; thus, what money reflects has also evolved.

With our current motivation of production being coal and oil, it is these things with which we depend, and the dollar reflects that. You ask how the dollar is in existence -- those resources which it reflects are still available to us -- so, there is the dollar.

Now, we are in a period of *profound* change for the entire human race -- relating to major leaps in scientific knowledge. This will, of course, [once again] change how we motivate production. And, the dollar will give way as a reflection of this.

As our ignorance dissipates, so will the density of this alleged coin we call money.



Good day hf
Anonymous Coward (OP)
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08/09/2012 06:07 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
ultimately, time is the ultimate commodity if you consider that GOLD freezes the value of money when purchased.
Anonymous Coward
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08/09/2012 11:21 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
the mighty military to enforce it , take it or we will shove it down your throat... just look at iraq, lybia and soon to be iran... only one the US won't touch is china...
Ima Pseudonym

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08/09/2012 11:29 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Green backs are just as worthless as federal reserve notes. Can you eat a loaf of bread? What is gold worth to you other than something you can trade for something you can actually use? Your gold is only worth what it is because of the same lies that make that federal reserve note worth something.
 Quoting: Anonymous Coward 9664906


really?

do you have a job? would you rather get paid in pieces of what you produce or something that represents the earned wealth you get from wages?

forget it ... I'm tired of explaining this crap over and over for the past 30 years.

oh yeah, yes, you can eat bread.

eta: it's portable wealth

Last Edited by Ima Pseudonym on 08/09/2012 11:31 PM
Therion156
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08/09/2012 11:42 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Big difference between the gold dollar & petro-dollar... gold is moving inverse not so much to the value of the dollar but to the negative interest rate policy.... gold is the ultimate hedge employed in the paper U.S. Treasury Repo market as interest rates crash lower.... it is not value investors driving gold...it is financial hedging in the global repo market that is forcing central banks to reaccumulate gold.... the COMEX & LBMA produce PAPER gold CLAIMS for use in the paper markets to instill confidence in the trades & repo lending facilities...
GrassWater

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08/10/2012 12:13 AM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Inflation is the simple answer.
GrassFish
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08/10/2012 05:46 PM
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Re: If you would have purchased gold in 2005 for $500, currently @ $1600 that means $ loss 220 % of value. How is the dollar even in existence?
Green backs are just as worthless as federal reserve notes. Can you eat a loaf of bread? What is gold worth to you other than something you can trade for something you can actually use? Your gold is only worth what it is because of the same lies that make that federal reserve note worth something.
 Quoting: Anonymous Coward 9664906


really?

do you have a job? would you rather get paid in pieces of what you produce or something that represents the earned wealth you get from wages?

forget it ... I'm tired of explaining this crap over and over for the past 30 years.

oh yeah, yes, you can eat bread.

eta: it's portable wealth
 Quoting: Ima Pseudonym


That wasn't the point. The point was backing dollars with gold isn't any difference from backing dollars with trust. Gold is only worth what we agree it is worth, just like dollars.

Yes, it is portable wealth. I'm just tired of seeing people say that our money is worthless because it isn't backed by gold.

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