The smartest thing to do today is to buy a variety of world currency banknotes (paper money) as an investment, as a collection, as an educational tool, as a hobby and as an eye-candy, to hang on the wall perhaps. Those kind of things such as banknotes are hotter right now than gold. In fact I do own a collection of 237 worldwide currency banknotes and some of them went really high up in value in just short 8 years.
Should I still purchase silver right now? I am from Canada if it makes any difference so I use Canadian currency... Im not exactly sure if that matters or not
@0muffins0 :) Yes, very scratchy toilet paper. It can also be burned for heat, as the Germans did in 1923. So yes, denim-based rag paper has some physical applications. It just doesn't hold its real purchasing power very well.
Started buying silver in 2000, just as a hobby. Bought a whole bunch when it went for $9.00 - $ 13.00. I WILL retire on my silver!! Read the silver stock report.
@dlmaniac Yes, and I always found that strange, since you can't eat paper money either. In fact, anything that *is* edible is unlikely to be useful as money, since it is too easily biodegradable. That's why people historically favored gold over wheat as money. More durable.
People arguing over the denominations of the bills are missing the point. The point is that paper money started as a way to spend your gold without having to carry heavy gold around. Now the money is so worthless that you have to carry so much of it, that we might as well just carry the gold around.
@aristochat3 Because the gold shop owners don't have enough money to just hoard gold. They probably get loan from banks too. They buy from others, and sell it to their customers for a higher price. That's how they make their money. They are in the business of making money off of their spread.
Banks generally don't loan money to bullion dealers. We don't use any form of borrowed money. We do make money on the spread, that is correct, but we have more expenses than people realize, too.
@aristochat3 Because it gives them fluidity!!!!! They sell Gold and Silver and use that paper money to buy more Gold and Silver and repeat! Do you get it now! Investors buy Gold and Silver as investment and to hedge against inflation! Sometimes you profit take and buy back on price dips!
@aristochat3, we don't keep the paper money, we buy more gold, or more silver, either from the public same day, and if not, then we "cover" and buy more of the most popular forms of gold and silver from wholesale suppliers.
so now in 2011 it is more convenient to back around gold when you go to the market. Will not have such a load to carry around if you carry gold.
sAD, YOUR OBSERVATION IS A VERY SERIOUS NOTE. You have noted a serious point of reference in the cycle of fiat money. I assume it starts with the idea that iit is too inconvient to back around metal coins and some reciepts for coins are much easier to carry.
@captkirkconnell If he used a $20 bill and ones the silver would still be heavier! If he used $100's, 20's , 5's and 1's the Gold would still be heavier!!
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The smartest thing to do today is to buy a variety of world currency banknotes (paper money) as an investment, as a collection, as an educational tool, as a hobby and as an eye-candy, to hang on the wall perhaps. Those kind of things such as banknotes are hotter right now than gold. In fact I do own a collection of 237 worldwide currency banknotes and some of them went really high up in value in just short 8 years.
khayelitshaissafe 5 months ago
Do you have to pay capital gains tax, 28% on the American Gold Eagle or other foreign gold legal tender.
I can't find an answer, thought maybe you would, pastor.
nld1960 7 months ago
Should I still purchase silver right now? I am from Canada if it makes any difference so I use Canadian currency... Im not exactly sure if that matters or not
luckyluke1232 1 year ago
But you can't eat gold! ... and ... and ... fiat money can be used as toilet paper!
lol
0muffins0 1 year ago
@0muffins0 :) Yes, very scratchy toilet paper. It can also be burned for heat, as the Germans did in 1923. So yes, denim-based rag paper has some physical applications. It just doesn't hold its real purchasing power very well.
illoominate 1 year ago
Started buying silver in 2000, just as a hobby. Bought a whole bunch when it went for $9.00 - $ 13.00. I WILL retire on my silver!! Read the silver stock report.
josepy157 1 year ago
Jason, I'm worried about you... you have a few spare minutes and you're weighing paper money?? It is very a telling statistic!!!
frontier1701 1 year ago
Cool story, bro.
theresidentone 1 year ago
Is paper, redeemable for NOTHING, money?
END THE FED !!!
iannetta11 1 year ago
“but... but... but... but... but you cannot eat it."
My favorite gold/silver bashing.
dlmaniac 1 year ago 2
@dlmaniac Yes, and I always found that strange, since you can't eat paper money either. In fact, anything that *is* edible is unlikely to be useful as money, since it is too easily biodegradable. That's why people historically favored gold over wheat as money. More durable.
illoominate 1 year ago
interesting......weird, but interesting
dmb1995ta 1 year ago
People arguing over the denominations of the bills are missing the point. The point is that paper money started as a way to spend your gold without having to carry heavy gold around. Now the money is so worthless that you have to carry so much of it, that we might as well just carry the gold around.
mrgimp420 1 year ago 20
@mrgimp420 Yes Yes Yes please do, I want to mug people for real money!!! lol
TheTrueJBV3737 1 year ago
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This does not make any sense.
SilverRose09 1 year ago
Try it again with hundred dollar bills for gold and twenties for silver. :)
MyNameIsChrisR 1 year ago
@MyNameIsChrisR,
Even 50 dollar bills would be more heavy than gold. But 100's not yet. But the 100's are more bulky than gold!!!
bibleprophesy 1 year ago
nice perspective, but if gold is so valuable why would a gold shop exchange their gold for worthless paper?
aristochat3 1 year ago
@aristochat3 Because the gold shop owners don't have enough money to just hoard gold. They probably get loan from banks too. They buy from others, and sell it to their customers for a higher price. That's how they make their money. They are in the business of making money off of their spread.
TheBarbarousRelic 1 year ago 6
@TheBarbarousRelic,
Banks generally don't loan money to bullion dealers. We don't use any form of borrowed money. We do make money on the spread, that is correct, but we have more expenses than people realize, too.
bibleprophesy 1 year ago
@aristochat3 Because it gives them fluidity!!!!! They sell Gold and Silver and use that paper money to buy more Gold and Silver and repeat! Do you get it now! Investors buy Gold and Silver as investment and to hedge against inflation! Sometimes you profit take and buy back on price dips!
Vambo1958 1 year ago
@aristochat3, we don't keep the paper money, we buy more gold, or more silver, either from the public same day, and if not, then we "cover" and buy more of the most popular forms of gold and silver from wholesale suppliers.
bibleprophesy 1 year ago
@aristochat3 Did you not see the spread mentioned in the video?
jedfa987 1 year ago
That really says something hay! Next thing we know is that its cheeper to burn the stuf than to buy fire wood! :)
alternativeangle 1 year ago
Absolutely beautiful!!!
DennyDFW 1 year ago
Amazing
and back then people wanted paper money because it was more convenient than carrying gold or silver
thanks for the vid
alex630710 1 year ago
excellent! now shared to help spread this perspective.
Azandex 1 year ago
so now in 2011 it is more convenient to back around gold when you go to the market. Will not have such a load to carry around if you carry gold.
sAD, YOUR OBSERVATION IS A VERY SERIOUS NOTE. You have noted a serious point of reference in the cycle of fiat money. I assume it starts with the idea that iit is too inconvient to back around metal coins and some reciepts for coins are much easier to carry.
captkirkconnell 1 year ago
@captkirkconnell If he used a $20 bill and ones the silver would still be heavier! If he used $100's, 20's , 5's and 1's the Gold would still be heavier!!
Vambo1958 1 year ago
That was awsome.
deadlizard64 1 year ago
lol good one :)
visionvictory 1 year ago
Awesome.....HAHA. Thanks for this man...lol
dodoinurpants 1 year ago