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Started By
Message
re: Gold hits all time high
Posted on 10/21/24 at 5:43 am to SlidellCajun
Posted on 10/21/24 at 5:43 am to SlidellCajun
quote:
Why isn’t gold valued at least as high as bitcoin?
That one is easy. Bitcoin isn’t being printed, they’ve in theory limited the supply.
Years ago, those who wanted to give money away realized that they couldn’t do so unless they went to the taxpayer and said “we need more of your earnings to spend on the stuff we want, so give it to us”. Those pols lost on Election Day. The same people had to find some way to spend other people’s money to buy votes, and realized “let’s just print the cash, and the resulting inflation (which is a tax increase) won’t be blamed on us, because it’s a complicated dynamic, and people are more interested in sportsball”.
Problem with this - smart money will look elsewhere (places other than the diluted Dollar), so enter gold. Those same people that agreed to dilute the dollar and hand it out and screech “look how magnanimous I am!! I do this for youuuuuuuuu!!” realized that people would run to gold and silver, so they did the same thing to gold and silver that they are doing to the dollar - they diluted the schitt out of it.
The money people created Gold ETFs!!! which are paper contracts that promise gold that is not yet mined, and for which the promisers cannot guarantee exists. There IS no gold backing these paper contracts, just a future promise. It’s no different than printing gold and diluting real gold. These same money people don’t draw a distinction between a pound of real gold, and a contract for a pound of gold that doesn’t exist. Now when they dilute the dollar, and people run to gold as a safe haven and gold starts to rise, the can just dump their schitt gold contracts and drive the price back down.
And it’s easy for them to do this, because for every ounce of real gold held in the hands of man, there are 400 ounces of imaginary paper gold. Until physical gold is separated from this imaginary paper schitt, they will continue to manipulate the price so you choose the schitt dollar instead.
This post was edited on 10/21/24 at 5:47 am
3
Posted on 10/21/24 at 6:31 am to SloaneRanger
quote:
I’m not even sure I would consider gold an investment.
Gold bought in May of 1999 is worth 1000% more today than then. Not so shabby, as far as investments are concerned.
This post was edited on 10/21/24 at 6:32 am
Posted on 10/21/24 at 9:36 am to Hangit
Bitcoin declining in price. I think money is shifting from bitcoin to precious metals.
Posted on 10/21/24 at 10:42 am to TigerTatorTots
Earnings, book value, assets, revenue… lots of reasons and measurable as to how to value a company
The question is why isn’t gold valued at least equal to bitcoin
Further- how would anyone know of bitcoin was fairly valued?
The question is why isn’t gold valued at least equal to bitcoin
Further- how would anyone know of bitcoin was fairly valued?
This post was edited on 10/25/24 at 7:53 am
Posted on 10/21/24 at 11:15 am to SlidellCajun
quote:.
The question is why isn’t gold valued at least equal to bitcoin
What would Bitcoin be priced at if they released 400 NEW Bitcoin for every one existing bitcoin?
Posted on 10/21/24 at 11:45 am to OccamsStubble
quote:
The money people created Gold ETFs!!! which are paper contracts that promise gold that is not yet mined, and for which the promisers cannot guarantee exists.
Irrelevant to those that own real gold
I own some physical gold. It’s real. It cost me @750 per ounce when I bought it. It’s finite and highly usable
Why shouldn’t it be valued at least as high as bitcoin which essentially has no usage?
This post was edited on 10/21/24 at 12:16 pm
Posted on 10/21/24 at 11:50 am to SlidellCajun
It isn’t irrelevant if it falsely dilutes the amount of gold.
If I claim that I have a barn in which 100,000 fully restored 57 Chevvies are housed, and everyone blindly accepted that as fact, then the value of 57 Chevvies worldwide would plummet.
If I claim that I have a barn in which 100,000 fully restored 57 Chevvies are housed, and everyone blindly accepted that as fact, then the value of 57 Chevvies worldwide would plummet.
Posted on 10/21/24 at 12:17 pm to OccamsStubble
quote:
If I claim that I have a barn in which 100,000 fully restored 57 Chevvies are housed, and everyone blindly accepted that as fact, then the value of 57 Chevvies worldwide would plummet.
Nah
There are ways to track the chevy’s. We can know how many were made and how many are left.
No one is falsely claiming that more gold exists than truly does either
This post was edited on 10/21/24 at 4:19 pm
Posted on 10/21/24 at 12:20 pm to SlidellCajun
quote:And the answer is - it is. Roughly 13x the value of bitcoin.
The question is why isn’t gold valued at least equal to bitcoin
Posted on 10/21/24 at 1:12 pm to OccamsStubble
As hypothecation by countries has increased, paper gold is becoming less desirable method for international settlements, especially among the CBs.
Paper gold is no place to be when a global economic crisis hits …. unless you’re a professional trader .
Paper gold is no place to be when a global economic crisis hits …. unless you’re a professional trader .
This post was edited on 10/21/24 at 1:20 pm
Posted on 10/21/24 at 1:20 pm to cadillacattack
quote:
As hypothecation by countries has increased, paper gold is becoming less desirable method for international settlements, especially among the CBs. Paper gold is no place to be when a global economic crisis hits …. unless you’re a professional trader .
Yes but I’ve been told they’re the same.
This post was edited on 10/21/24 at 1:21 pm
Posted on 10/21/24 at 1:25 pm to OccamsStubble
quote:
Yes but I’ve been told they’re the same.
And you know that I know you well enough to say … that I don’t for one second believe that you believe that at all. *wink*
Posted on 10/21/24 at 1:46 pm to cadillacattack
Would be interesting to compare the value of all gold above ground to the value of all known gold ETFs, then try to explain away the difference as “but them gold minin stox inside them ETFs”
Posted on 10/22/24 at 7:14 am to OccamsStubble
quote:
That one is easy. Bitcoin isn’t being printed, they’ve in theory limited the supply.
So it’s priced high because there’s a limited supply of useless digital codes?
Posted on 10/22/24 at 7:54 am to SlidellCajun
quote:
So it’s priced high because there’s a limited supply of useless digital codes?
No, it's priced high because there's a limited supply of a unit of value-storage which happens to be digital codes. As the utility for Bitcoins continues to grow, so too does acceptance by a growing consumer base. As that grows, thus the value of Bitcoins grows.
I don't particularly care for them (good luck spending them if shite-hitting-the-fan means an extended power outage, see also: EVs), but I don't let that blind me to what the consumer is moving towards.
Posted on 10/23/24 at 3:28 pm to Bard
quote:
good luck spending them if shite-hitting-the-fan means an extended power outage
Are you describing a Mad Max scenario or what is the risk you're referring to?
Posted on 10/23/24 at 8:16 pm to David_DJS
quote:
Are you describing a Mad Max scenario or what is the risk you're referring to?
It doesn't have to be Mad Max, just a powerful natural disaster. Almost a month later and there are still nearly a half million people without power due to Helene, for example.
Posted on 10/23/24 at 8:47 pm to Bard
quote:
As the utility for Bitcoins continues to grow, so too does acceptance by a growing consumer base.
Seems to be going the opposite direction. Nobody even pretends they want to use bitcoin for anything anymore.
It was only a couple days ago someone was praising bitcoin ETFs and derivatives since nobody even wants to hold onto it due to the theft risks.
Posted on 10/23/24 at 9:21 pm to Bard
quote:No one is trying to spend their bitcoin during a natural disaster. Mad max? Sure, bitcoin is worthless. So is the money in your bank accounts. If there is a short term SHTF event (i.e. Hurricane Helene), then bitcoin isn't the thing to be used. Just like people aren't trying to buy shite with their stocks, or bonds, or options contacts.
It doesn't have to be Mad Max, just a powerful natural disaster. Almost a month later and there are still nearly a half million people without power due to Helene, for example.
Posted on 10/23/24 at 9:22 pm to lsuconnman
quote:Explain these theft risks? Holding your own bitcoin is by far the safest way to store it. It literally cannot be stolen from you unless you provide that access.
since nobody even wants to hold onto it due to the theft risks.
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