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re: Elon comments on the gold found at Fort Knox
Posted on 2/17/25 at 2:06 pm to MrFantastic
Posted on 2/17/25 at 2:06 pm to MrFantastic
I bet this guy knows where the gold is.
0
Posted on 2/17/25 at 2:07 pm to ItTakesAThief
Us dollar has had no gold backing for a long while. It's only value is being used for global gdp
Posted on 2/17/25 at 2:08 pm to Hungarianhorntail78
So now you're against raising taxes too? 
Posted on 2/17/25 at 2:09 pm to MrFantastic
Posted on 2/17/25 at 2:10 pm to MrFantastic
Posted on 2/17/25 at 2:10 pm to MrFantastic
Why does no one find this tweet surprising?
Posted on 2/17/25 at 2:11 pm to ItTakesAThief
quote:
Seems like it would be a bad move for the US government to say there is no gold.
The US dollar would be worthless
We went off the gold standard a long time ago. This news wouldn't effect the current value.
Posted on 2/17/25 at 2:11 pm to Hungarianhorntail78
quote:
The best thing you can do for yourself is to buy physical gold and silver.
You're investing in the wrong metals my dude.
Posted on 2/17/25 at 2:11 pm to Schleynole
I don't doubt that at all considering gold can only be made by supernova.
Some folks think gold is made here on earth.
Some folks think gold is made here on earth.
Posted on 2/17/25 at 2:15 pm to Hungarianhorntail78
You're a new alter of goldentaint, mighttranelane, moor of venice.
How miserable your life must be to create a new alter every few days.
How miserable your life must be to create a new alter every few days.
Posted on 2/17/25 at 2:15 pm to goatmilker
quote:
I don't doubt that at all considering gold can only be made by supernova.
All metals on earth with molecular weights higher than iron are from supernova.
This post was edited on 2/17/25 at 2:16 pm
Posted on 2/17/25 at 2:16 pm to MrFantastic
UK NIL fund 
Posted on 2/17/25 at 2:25 pm to scottydoesntknow
quote:
Its been understood for years that USD has nothing backing it except the ingenuity and productivity of the *productive* American citizen
I think you meant backing of 11 Aircraft Carriers, 44 B-1B bombers, 19 B-2 bombers and 14 Trident II submarines.
Posted on 2/17/25 at 2:27 pm to DisplacedBuckeye
quote:
You're investing in the wrong metals my dude.
You right.
Brass, copper and lead.
Posted on 2/17/25 at 2:27 pm to Hungarianhorntail78
quote:
I didn’t say bitcoin
You should have.
Posted on 2/17/25 at 2:29 pm to Decatur
Says the guy without a job that post non stop.
Posted on 2/17/25 at 2:31 pm to ItTakesAThief
quote:
The US dollar would be worthless
Why? We haven’t had a gold backed currency in decades.
Petrodollar and our military is what backs it up
Posted on 2/17/25 at 2:31 pm to MrFantastic
Posted on 2/17/25 at 2:32 pm to prplngldtigr
Yes please.
Posted on 2/17/25 at 2:33 pm to Hungarianhorntail78
"Think about what a quarter would’ve bought you 100 years ago. What does it buy today? Nothing."
This is true enough, but it misses the whole point of investing. You never just want to want to sit on cash, you want to invest it in something. I like your idea of going back 100 years, so let's do it!
One hundred years ago an ounce of gold was valued at $383.23 (2/1/1925), and today (well, as of 2/14/2025), an ounce of gold is worth $2,882.63. So, yeah, it would have been much better to purchase gold with your cash back in 1925 instead of burying the cash in your backyard.
But what if you took the same amount of US currency, $383.23, back in 1925, invested it, and received a 7% rate of return, which is a conservative ROR estimate for the stock market over the long term? You would have $12,806.74. That's more than four times as much as the ounce of gold you just dug up out of the backyard!
By all means, check my math. I assumed 7% compounded annually even though I believe an S&P 500 average would have been higher. Anyway, this is not to denigrate precious metals as an investment, especially as a hedge against inflation or if you are a shorter terms investor who sees a crash on the way. But gold is frequently not the best investment.
This is true enough, but it misses the whole point of investing. You never just want to want to sit on cash, you want to invest it in something. I like your idea of going back 100 years, so let's do it!
One hundred years ago an ounce of gold was valued at $383.23 (2/1/1925), and today (well, as of 2/14/2025), an ounce of gold is worth $2,882.63. So, yeah, it would have been much better to purchase gold with your cash back in 1925 instead of burying the cash in your backyard.
But what if you took the same amount of US currency, $383.23, back in 1925, invested it, and received a 7% rate of return, which is a conservative ROR estimate for the stock market over the long term? You would have $12,806.74. That's more than four times as much as the ounce of gold you just dug up out of the backyard!
By all means, check my math. I assumed 7% compounded annually even though I believe an S&P 500 average would have been higher. Anyway, this is not to denigrate precious metals as an investment, especially as a hedge against inflation or if you are a shorter terms investor who sees a crash on the way. But gold is frequently not the best investment.
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