Gold

[mbratrud]

Nations that have nothing offer should probably have something to back currency like PIGS. Canada is a Country that is rich with Natural Resources and has that for a hedge. In hindsight would it have been nice to have the Gold reserves because of the value. But look at the price of Natural Resources in that same period. 10 years ago it would have been hard to predict what gold would do. I wish I had my $6 Canola and my $6 Flax to sell, Oil Companies wish they had $50 oil to sell. Hindsights 20/20.

[mbratrud]

Although Gold can be considered the standard everything has a value and can be traded. The value is determined by the people trading with each other. Say the financial world blows up tomorrow. There will still be someone who covets a fine bottle of Italian wine and is willing to trade some wheat for it. Or I might want a German Car and am willing to trade Oil for it. Yes someone might even want some gold and will trade a house for it.

My Point is Gold is only worth what someone is willing to trade for it. If wheels fall off the financial bus and paper is worth nothing, I am worried about the things I need to live, Food, Clothing, Shelter, Transportation.... Not uhummm Gold! In a huge financial Melt Down, Who values the Gold and What is it really worth? If you are Italy would you rather trade Gold for Oil for example or Italian made Cars and wine? What is going to help your country more? And for those that say they should have gold to secure credit, well why then would they need credit?

Thats the way this Redneck sees it anyway

[parsley]

It's about trust. And safety. Greek or Icelandic
money? How about francs under your mattress?
A herd of cows take a lot of fast eating as
slaughter houses declare bankruptcy. What can
you pack when you leave Poland for Australia?
Does South Korea really trust China's renminbi?
Trust in which valuables? That can be traded
quickly. Gold has stood the test of time.

[mbratrud]

Hi Pars, I am not arguing that Gold is the "gold standard". If Canada today had 75% of its debt secured by Gold our Dollar would be much higher and would that be a good thing for an exporting nation. The use of Gold in Developed economies is different than prior to the Industrial Revolution. Yes it is much easier to carry an ounce of gold vs 6 tonne of wheat. But at the risk of sounding like a Retard, to me Gold is not the same value as 5000 years ago. Water World is a great movie to demonstrate this Cigerettes, Oil and Paper thats where its at. Again just 1 Retarded rednecks opinion...

[mbratrud]

If I go to a Bank and ask to borrow money to buy Gold or a Quarter of Land, what are they going to allow me to Leverage at? I am thinking the Gold I will need to have at least 50% down plus extra security, and Land i will need no more than 20% down and probably can get it with 10% down. Why is that? Ok now i'm just arguing to argue.

I will give you this though that in the event our civil liberties were at risk I would sell my farm and every thing I own and buy gold and bury in small amounts all over the place.. LOL

[parsley]

Economic distress is inevitably accompanied by
chaos and upheaval.
Katrina.
Explosions
Flood

I think you've said it mbrat: your purse will be as
heavy with shining gold, as the leather allows.
Pars

[mbratrud]

Could also bury guns and bullets someone with Gold will always need guns to protect it.

[cottonpicken]

There is over 5 billion people in this world that will
trade labour and goods and services for gold.

There are over 600 dead currencies that are worth
zilch.

No amount will buy any labour,any good or any
service.

[cottonpicken]

I'm also sorry for the above post.

I got put into a bad mood reading some economic
stuff,a lot of people in this world are going to take a
huge hit because of incompetent governments.

[mbratrud]

I will agree with you on that C, it is frustrating to see that so much of peoples disparity is because of the governance they are subjected to. For the 5 Billion people you refer to and the worthless paper they carry, nearly all of them will never have a chance to hold gold and never will. They will trade labour for anything that helps them survive.

[wedino]

This guy, "Mr. Gold", has it figured.

[URL="http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/1/13_Jim_Sinclair.html"] click here to listen[/URL]

[AllisWD45]

Value is all relative. Two points in time. !987 in my
area if i would have sold a good quarter of land for
40000$ and bought gold for 400$/ounce and
buried it in my back yard and forgot about it. Last
week if i would have decided to dig it up and buy
land how much land could i buy for my gold at
$1600/Ounce in todays paper currency value.

What if i would have taken that 1987 paper
currency and buried it in the back yard instead of
buying gold how much land could i buy today.Even
if i would have left it in some bank investment for
that time how much land could i buy today.

What if our country goes totally to shit and there is
an economic crash as the USA has experienced and
our currency de values and there is a real estate
crash and so on. What will the 100 ounces of gold
be "worth" then. To me probably a lot of land or
other hard assets etc. Why do you think the Chinese
are buying land here like there was no tomorrow.
They know there paper money is or will be worth
shit in a meltdown and they cant get their hands on
enough gold they looked around and there it is a
hard asset in Western canada that they can trade
ass wipe for with willing takers.

Gold is nothing but a store of value always has
been always will be.

[cottonpicken]

12 days in ketosis makes cotton cranky.

For what its worth i think there are tons of
investments better than gold,land being one,graphite
another,and dozens and dozens more.

But the reason people watch it is because it is the
canary in the coal mine.

Its telling you goods and services are going up.

[mbratrud]

I understand what you guys are saying about the bling believe me and I agree, but when you think of the catostrophic events that would have to take place on our home ground to bring us to a point where we need gold to back up our currency it's scary. Not impossible but wow.

I am convinced though when the earth switches poles and all hell breaks loose. If we are still alive most models show we should still be able to farm in SE Sask, so I will stick with land.. LOL

[AllisWD45]

Cotten you are much better at summing up what i
really wanted to say.I think you are saying it is more of
an indicator than anything only its one that has been
doing that service for 5000years or more.
Good luck with the ketosis thing.