do you listen to schiff at all? the fed is not printing money to pay down debt. they are creating money to bail out finacial institutions world over. they are a private bank printing OUR money to serve THEIR purposes. this is about to become a huge deal because a bill that audits the fed has just been passed.
Gold, up until the early 1900's, had been a form of money for 6000 years. The reason is because it is portable, fungible, demanded and highly limited in supply. It does not in itself create new productivity but it is a way to store wealth. Ever since fiat standards have been set (early 1900's) gold has gone all over the place in terms of its price in fiat paper. That is because investors have been trying to value it based on their paper currencies. Paper currencies are the real unreliable money.
Physical gold is probably the smartest investment you can make right now. But don't take my word for it, listen carefully to everything that Peter and others have to say about gold. Gold has had great value to human beings for thousands and thousand of years. There's a reason for this, many reasons actually, and they will dawn upon you as you learn about it and objectively think it through.
And since the economy is now 70% consumer based, i think that it's highly leveraged, and very risky to be an optimist right now.
I'm not an economist, so i'f i'm wrong about this(unfunded liabilities), please tell me why. That'll ease my fear of a dollar collapse, and I will sleep better at night! lol.
Ok, Dsglop is right about the ability of the fed to easily unwind. The fed can raise rates now and move the dollar on par to the euro if they wanted to. The point is that they don't want to do that because it would cause a huge "depression" lol.
My concern is the debt, including the 80Trillion Present Value of the unfunded liabilities(medicare/aid, SSecurity) when the baby boomers start retiring, either benefits will be cut, or the fed will push the printing press into high gear.
If you had bought gold at certain times during 79-80, sure, you would have lost money. Just look at a POG chart, adjusted for inflation. It's fair to say that buying during a "spike" (a period where the price of a commodity suddenly increases rapidly, but only for a short time) is a poor investment. We're not in a spike, though. Gold has been bullish since the early 2000s. There's been steady increases in its price due in large part to inflation. Gold will continue to be valuable.
You are stating the obvious about the intrinsic value. The thing is gold is volatile. If you invested in gold in 1979, today you will still have nearly 50% loss in real terms. In fact, for 23 year since 1979 gold has been going down. So much for gold holding its value and been a good investment. Just like any other asset class, gold can be overvalued and overbought, and 1979 showed it well.
gold is not volatile at all, especially if your comparing it with currency. infact gold is the single most stable value holder the world has ever seen. of corse you can cherry pick time periods but I could also do the same with currency. gold has never been worth nothing whereas currency has been worth nothing thousands of times throughout history in hundreds of countries (even happened in the usa ) how much gold did it take you to buy something 100 years ago and how much dollars did it take?
True. However, non of us are going to live 100s of years to catch the rise of gold. However, 23 years is a long period, and holding an asset that historically was flat or lost its value over decades is not the best thing to do. Peter, on the other hand, made it sound like gold is a bullet-proof value holder. Over 200 years periods - yes, over 2 decade spans - probably not.
ok well if you wanna look at two decades then what about the price of food, gas and housing over the past 2 decades. whats more stable? buying those things in dollars? or buying those things in gold? the only thing stable about the dollar is it is consistently losing value exponentially and always has since it was not sufficiently backed by gold 100 years ago. think about what you said "over 200 years yes over 2 decades no".. you really wanna gamble on the few decades out of every 20?
I don't keep my savings in dollars either. However, as dollar depreciated between 1979 and 2003, gold lost its nominal value compounded by dollar depreciation. Double-whammy, you can call it. Gold is an asset class, like real estate or equities. Unlike the latter, it is not a value producing asset class, thus it growth is limited to the decline of fiat money, and in a long run gold will always under perform value-generating assets.
its not an asset class. no more than yen dollars or euros are an asset class. and you forget that the only reason gold is sometimes volitile in dollar terms is because of government and central bank interference. GOLD WILL NEVER GO DOWN IN VALUE IN THE LONG RUN. CURRENCY ALWAYS WILL. you forget that gov and central banks will only have this effect on gold for so much longer. the only comparrison with gold you can make is to curency, not real estate or stocks. we are talking money..store of value
no they are not...atleast not in the same way that real estate or stocks are. a house is something to live in or rent out, stocks are speculation on a company and/or a dividend investment. gold yen dollars etc are different they are used as a way to transfer your labor to others labor. if your gonna say that gold and/or currency is an asset class than your definition of an asset class has to be everything, which in someways is tru but lets atleast distinguish a little between money and assets
"holding an asset that historically was flat or lost value over decades is not the best thing to do" I agree, it sounds like you are describing the DOLLAR. only the dollar is a store of value that has lost value much more decades than it held it. how can you not see your hypocracy and illogic? you think of gold as strictly an asset but its much more a money than a traditional asset. how can you say a dollar is better to hold than gold when you yourself explained the draw backs to dollars
Dude, no one advocates holding savings in dollars, or any other fiat money, for that matter. The problem with gold is it has intrinsic value only, and it is susceptible to bubbles. Between 1979 and 2002, gold lost 66% of its value in nominal terms. Adjust it for inflation, like Peter likes to do with US equities, it lost 85% between 1979 and 2002. Does it sound like a reliable way to invest?
gov and central banks have a short history of distorting gold (hundred years or two out of thousands). there ability to produce a money that tricked people into using it over gold is over. I think you are making a mistake in basing all your views on the past several decades because that has been the rare exception to the rule. big picture shows that fiat currency backed by nothing is a fad. assuming im right, can u see that gold is money not an asset class? gonna buy food with a house or stocks?
dsglop.. you are way off on almost everything you say. whats even more amazing is that you prove yourself wrong in almost every explaination you give and you are too far out there to even notice it. your views are so off it truly is amazing because in order for you to come to these false conclusion you have to have so many other things wrong to arrive at them. I wouldnt even know where to start with you. you have such a screwed up basic knowledge that you simply cannot understand certain logic.
I rarely do this but I will approve your vid and even comment on it. When you held up your fingers beginning with a 1:1 ratio and ending with a 5:1 ratio I saw the problem. You don't know the real proportions of what is going on. The Fed increased their balance sheet by 1.2 trillion dollars while tens of trillions of dollars have evaporated. What's more is that there is an exit strategy to unwind it. I explain it in the vid response I posted to my own vid.
dsglop, one of your misconceptions is that if money "evaporates" then you can simply replace it with new money without any consequence. if thats true then why not simply replace every dollar that is never repaid to a lender? why not give loans to everyone and if they dont pay it back then just replace the "evaporated" dollars with new ones. you dont understand that this cycle will end in hyperinflation..the dollars still chased a good or service and by replacing it you simply chase it again
the other thing you forget dsglop is that currency only has value if it is trusted and has confidence....thats all. and if everytime a dollar disapears it reappears as a new dollar it looses its confidence as a finite understandable value store. imagine if every time you lost your iphone an iphone fairy came and made a new one magically appear in your hands....what would that do to your sense of value for iphones?
One problem , since the price of gold is rising, there are many people who have no idea what real gold looks like and are easily fooled by fakes. Also when you sell your gold to a dealer they will buy at 10 to 20 percent below market value. Suggesting to buy physical gold is too risky as you are prone to scammers and overpaying for its limited supply. A gold Etf is a better choice like GLD.
Credit destruction dwarfs money printing. Hyperinflation is impossible anytime soon.
Gabor4u 8 months ago
do you listen to schiff at all? the fed is not printing money to pay down debt. they are creating money to bail out finacial institutions world over. they are a private bank printing OUR money to serve THEIR purposes. this is about to become a huge deal because a bill that audits the fed has just been passed.
darththc 2 years ago
thats cute. however you did get it right. The value of gold is constant. The pricing of gold in usd depends on the amount you print.
outsidethebox47 2 years ago
Are you on too much flouride? You stutter can can't think straight.
look4edmund 2 years ago
So he's saying I couldn't have taken that coin and put it on Ebay and had over $1000 in a few days? Bummer.
bradleymxz 2 years ago
I fell asleep, did I miss something?
relwof84 2 years ago
they have to create money, so they have money to spend. its called counterfeiting
DickeyRogers 2 years ago
Ha Ha your new arnt you, replying to dsglop is pointless.
dsglop is either a troll or a moron.
Check out some of his other drivel.
erushbass 2 years ago 8
I second this lol
audiohi 2 years ago 2
motion is accepted. dsglop, aka gloppy joe, is a twit.
bluzer2222 2 years ago
agreed
edepopede1 2 years ago
Gold, up until the early 1900's, had been a form of money for 6000 years. The reason is because it is portable, fungible, demanded and highly limited in supply. It does not in itself create new productivity but it is a way to store wealth. Ever since fiat standards have been set (early 1900's) gold has gone all over the place in terms of its price in fiat paper. That is because investors have been trying to value it based on their paper currencies. Paper currencies are the real unreliable money.
eesloan4 2 years ago 2
Physical gold is probably the smartest investment you can make right now. But don't take my word for it, listen carefully to everything that Peter and others have to say about gold. Gold has had great value to human beings for thousands and thousand of years. There's a reason for this, many reasons actually, and they will dawn upon you as you learn about it and objectively think it through.
LisaJ4Liberty 2 years ago 2
And since the economy is now 70% consumer based, i think that it's highly leveraged, and very risky to be an optimist right now.
I'm not an economist, so i'f i'm wrong about this(unfunded liabilities), please tell me why. That'll ease my fear of a dollar collapse, and I will sleep better at night! lol.
deni1985 2 years ago
Ok, Dsglop is right about the ability of the fed to easily unwind. The fed can raise rates now and move the dollar on par to the euro if they wanted to. The point is that they don't want to do that because it would cause a huge "depression" lol.
My concern is the debt, including the 80Trillion Present Value of the unfunded liabilities(medicare/aid, SSecurity) when the baby boomers start retiring, either benefits will be cut, or the fed will push the printing press into high gear.
deni1985 2 years ago
If you had bought gold at certain times during 79-80, sure, you would have lost money. Just look at a POG chart, adjusted for inflation. It's fair to say that buying during a "spike" (a period where the price of a commodity suddenly increases rapidly, but only for a short time) is a poor investment. We're not in a spike, though. Gold has been bullish since the early 2000s. There's been steady increases in its price due in large part to inflation. Gold will continue to be valuable.
d357r0y3r 2 years ago
You are stating the obvious about the intrinsic value. The thing is gold is volatile. If you invested in gold in 1979, today you will still have nearly 50% loss in real terms. In fact, for 23 year since 1979 gold has been going down. So much for gold holding its value and been a good investment. Just like any other asset class, gold can be overvalued and overbought, and 1979 showed it well.
MyLoser 2 years ago
gold is not volatile at all, especially if your comparing it with currency. infact gold is the single most stable value holder the world has ever seen. of corse you can cherry pick time periods but I could also do the same with currency. gold has never been worth nothing whereas currency has been worth nothing thousands of times throughout history in hundreds of countries (even happened in the usa ) how much gold did it take you to buy something 100 years ago and how much dollars did it take?
slickbtk 2 years ago
True. However, non of us are going to live 100s of years to catch the rise of gold. However, 23 years is a long period, and holding an asset that historically was flat or lost its value over decades is not the best thing to do. Peter, on the other hand, made it sound like gold is a bullet-proof value holder. Over 200 years periods - yes, over 2 decade spans - probably not.
MyLoser 2 years ago
ok well if you wanna look at two decades then what about the price of food, gas and housing over the past 2 decades. whats more stable? buying those things in dollars? or buying those things in gold? the only thing stable about the dollar is it is consistently losing value exponentially and always has since it was not sufficiently backed by gold 100 years ago. think about what you said "over 200 years yes over 2 decades no".. you really wanna gamble on the few decades out of every 20?
slickbtk 2 years ago
I don't keep my savings in dollars either. However, as dollar depreciated between 1979 and 2003, gold lost its nominal value compounded by dollar depreciation. Double-whammy, you can call it. Gold is an asset class, like real estate or equities. Unlike the latter, it is not a value producing asset class, thus it growth is limited to the decline of fiat money, and in a long run gold will always under perform value-generating assets.
MyLoser 2 years ago
its not an asset class. no more than yen dollars or euros are an asset class. and you forget that the only reason gold is sometimes volitile in dollar terms is because of government and central bank interference. GOLD WILL NEVER GO DOWN IN VALUE IN THE LONG RUN. CURRENCY ALWAYS WILL. you forget that gov and central banks will only have this effect on gold for so much longer. the only comparrison with gold you can make is to curency, not real estate or stocks. we are talking money..store of value
slickbtk 2 years ago
gold, yen and euros are an asset class.
erushbass 2 years ago
no they are not...atleast not in the same way that real estate or stocks are. a house is something to live in or rent out, stocks are speculation on a company and/or a dividend investment. gold yen dollars etc are different they are used as a way to transfer your labor to others labor. if your gonna say that gold and/or currency is an asset class than your definition of an asset class has to be everything, which in someways is tru but lets atleast distinguish a little between money and assets
slickbtk 2 years ago
"holding an asset that historically was flat or lost value over decades is not the best thing to do" I agree, it sounds like you are describing the DOLLAR. only the dollar is a store of value that has lost value much more decades than it held it. how can you not see your hypocracy and illogic? you think of gold as strictly an asset but its much more a money than a traditional asset. how can you say a dollar is better to hold than gold when you yourself explained the draw backs to dollars
slickbtk 2 years ago
Dude, no one advocates holding savings in dollars, or any other fiat money, for that matter. The problem with gold is it has intrinsic value only, and it is susceptible to bubbles. Between 1979 and 2002, gold lost 66% of its value in nominal terms. Adjust it for inflation, like Peter likes to do with US equities, it lost 85% between 1979 and 2002. Does it sound like a reliable way to invest?
MyLoser 2 years ago
gov and central banks have a short history of distorting gold (hundred years or two out of thousands). there ability to produce a money that tricked people into using it over gold is over. I think you are making a mistake in basing all your views on the past several decades because that has been the rare exception to the rule. big picture shows that fiat currency backed by nothing is a fad. assuming im right, can u see that gold is money not an asset class? gonna buy food with a house or stocks?
slickbtk 2 years ago
@slickbtk. Please look up the word proportion. This will be my last comment here.
dsglop 2 years ago
dsglop.. you are way off on almost everything you say. whats even more amazing is that you prove yourself wrong in almost every explaination you give and you are too far out there to even notice it. your views are so off it truly is amazing because in order for you to come to these false conclusion you have to have so many other things wrong to arrive at them. I wouldnt even know where to start with you. you have such a screwed up basic knowledge that you simply cannot understand certain logic.
slickbtk 2 years ago 7
I rarely do this but I will approve your vid and even comment on it. When you held up your fingers beginning with a 1:1 ratio and ending with a 5:1 ratio I saw the problem. You don't know the real proportions of what is going on. The Fed increased their balance sheet by 1.2 trillion dollars while tens of trillions of dollars have evaporated. What's more is that there is an exit strategy to unwind it. I explain it in the vid response I posted to my own vid.
dsglop 2 years ago
dsglop, one of your misconceptions is that if money "evaporates" then you can simply replace it with new money without any consequence. if thats true then why not simply replace every dollar that is never repaid to a lender? why not give loans to everyone and if they dont pay it back then just replace the "evaporated" dollars with new ones. you dont understand that this cycle will end in hyperinflation..the dollars still chased a good or service and by replacing it you simply chase it again
slickbtk 2 years ago 3
the other thing you forget dsglop is that currency only has value if it is trusted and has confidence....thats all. and if everytime a dollar disapears it reappears as a new dollar it looses its confidence as a finite understandable value store. imagine if every time you lost your iphone an iphone fairy came and made a new one magically appear in your hands....what would that do to your sense of value for iphones?
slickbtk 2 years ago
One problem , since the price of gold is rising, there are many people who have no idea what real gold looks like and are easily fooled by fakes. Also when you sell your gold to a dealer they will buy at 10 to 20 percent below market value. Suggesting to buy physical gold is too risky as you are prone to scammers and overpaying for its limited supply. A gold Etf is a better choice like GLD.
dvd20gk 2 years ago