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starbucks4ever (97.79)

Idiot of the day: goldbugs

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April 28, 2010 – Comments (8)

Can you believe that? They are paying $1165 for an ounce of gold!

 

8 Comments – Post Your Own

#1) On April 28, 2010 at 12:15 AM, AvianFlu (20.96) wrote:

Yes, people really ARE idiots. I can't believe they are giving away an ounce of gold for $1165 in federal reserve notes!

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#2) On April 28, 2010 at 12:19 AM, NOTvuffett (< 20) wrote:

it is special paper avian, lol.

 

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#3) On April 28, 2010 at 12:47 AM, starbucks4ever (97.79) wrote:

Avian,

It's not just ordinary paper. It has watermarks on it that make it truly one of a kind. I will even tell you (but this is strictly between ourselves) that they even accept this paper at grocery stores and give you all kinds of food in exchange. I know you will find it utterly incredulous, but you will have to take my word for it. The reasons they do that are complex, but believe me that is so. Just don't share this secret knowledge with other players. Remember, it's strictly between you and me. I won't tell anyone else, and you will also keep it to yourself and this way, nobody else will ever find out :)

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#4) On April 28, 2010 at 1:50 AM, RonChapmanJr (32.98) wrote:

What do you think an ounce of gold should be worth nowadays?

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#5) On April 28, 2010 at 3:09 AM, MGDG (34.80) wrote:

Ron, I don't have a clue, but it will be worth a lot more in a few years.

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#6) On April 28, 2010 at 4:25 AM, VExplorer (29.67) wrote:

One of the properties of REAL money according to money theory is USELESS of it. Gold is best example. Nobody really need it. If gold will jump to $10K per troy once, FED will not really care. They will inform: No inflation. CPI and other **I's will OK. So, why not? Who count these idiots (goldbugs)? The same story with diamonds: if you have monopoly and nobody care, price may rocket. Very good thing to speculate then peple lost trust in gov. JIMHO.

 P.S. From the same reason I'm not sure prices of other commodity can skyrocket. They really care about that. It's political issue. Gov will try to manupulate/restrict/limit free market. They don't want see hungry and angry people at Main Street.

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#7) On May 01, 2010 at 4:36 PM, LANaturist (99.27) wrote:

@VExplorer:  I think the current regime does like to see the streets full of hungry and angry people.  They see them as job security.  Happy, prosperous and self-secure people would not have made the election choices they have for most of the last 50 years.  The current regime is just the worst of the bunch.

 

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#8) On May 01, 2010 at 4:42 PM, Tacomatight (68.20) wrote:

zloj post #3,

haha

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