Value comes from someone needing it for something else.
Right now someone needs dollars to pay taxes or debts thus it has value.
Silver is use in 10,000 applications and it's money like gold is money. Silver has no value to you right now but when it does don't bitch at the people who where smart enough to purchased it before you did.
It has value, depending on the year and such, if you find one of those earlier canadian bills mint condition, or if you have uncut sheets you can have numismatic value to it(collectors value).
At that point in time paying $525,000 for a home was insane if your goal was to store or increase your wealth. Why? Because it was over valued because of easy credit to those that can't pay. Thus so at this point in time paper money time because it's created from debt that has now become unplayable. The facade is now being held together with accounting fraud and coercion.
Since you are not privy to the knowledge of when it will end you must evacuate before it does.
In 2005 a average house had a value that was to high but everyone believed it was correct, so tell me does believing in something make it so? Does value today mean value tomorrow or even just 70 years? (BTW the dollar lost 95% of it's value in that time gold and silver has not)
So when someone asks what gives gold it's value? It's rare element that requires WORK to create while dollars are not, and can be created by anyone borrowing from a bank.
The narration of this video is not much different from the Jerad Loughner videos about government controlling our grammar. Its juvenile and hopelessly lost.
a stock is worth whatever the market thinks it's worth; i guess it's the same with paper currency . . . until the crap hits the fan. then of course, nobody will want it, and it will be worth nothing. that's when the tanks show up on the streets and thugs in jackboots start kicking down your door and mine. nice.
A Roman Senator suggested that they put a mark on the forehead of the slaves to identify them. The others thought it was a bad idea because the slaves would recognize that they out number us.
A 1oz .999 silver coin is a certainty of value in the future. A $1 FRN or canadian Loonie has no certainty of value in the future , because they are today's legal tender instrument (man-made illusion), so they are not a good store of value in an uncertain future. Silver and gold will maintain its material value and buying power thru time no matter what currency is used at that time. Create your own central bank , buy and hold silver and gold , this is your individual power expressed.
"Problem: someday and/or one day came be like the second coming and it is 2011."
Ok Let me work for you for one year one penny the first day and double it every day. I'm assuming you took grade 5 math and would know you would run out of money well before he first month was up.
You see our monetary system is exactly like that, it requires and ever increasing amount of debt to be created.
If a time is what your looking for then this decade we will see the end of the FRN
If I may add to your analogy, when you buy stocks, bonds and look at yields and risks involved. You base your purchasing analysis on a set of company's financial data. If you buy stocks from a company with a dangerous ratio of liabilities vs. assets and not a very convincing argument about increasing sales, well ..Your risk of losing your investment is higher. Now, the dollar is the note and the issuing company is the USA/FedRes. See their financial statements vs risk.
@davincij15 I watched the video and I watched it again before this response. I get what your saying - its not a difficult concept - I just don't share your point of view. Dude - if I stole your fat stack of $100s you would be PISSED - because they have value. That's why you keep it in your wallet and not the trash. Modern currency is backed by more abstract assets than gold or silver but backed it must be or no one would work for it, protect it or even kill for it.
Your response is proof that a company can exist making no money as long as people are fooled it's all good. I mean you would be mad if I stole a stock with no income and no assets had value today from you. The issue is not the fact it has value today the issue is one day it will has no value and no one will give you any thing for it.
You don't want to be in a ponzi scam when it has value, that's when you get out. Ask people who got burned by madoff.
@davincij15 Canada may not have any income or assets but I know the US does, I personaly contribute twice a month. However, I don't know if the stock analogy works. Stocks aren't currency, the're things you spend your currency on.
Is this bust stage of the boom/bust cycle enough to topple the system? It has a lot of momentum and might be harder to stop than you suggest is.
@24seacloud Wood pulp and ink or precious metal, which holds more long term value? Does that make a bit more sense to you "Mr. Intellectual n00b"? Please don't take this the wrong way I am not calling you a noob but a n00b, just wanted to clarify, before you go off on a tangent.
@untouchblz Got it - " n00bs, on the other hand, know little and have no will to learn any more." Thank you for clarifying that, it would have been a shame if I had missed the full impact of your insult.
I read an interesting statement: " Gold is the money of kings, Silver is the money of gentlemen, Barter is the money of the poor and Debt is the money of slaves". I think this statement says a lot. WB
Again, I hope people are listening and really getting it. I don't think they are, but I sure hope so. Thinking about the level of suffering that will result simply from what we failed to do when we had the opportunity will be too much for many to take. This is especially true if they've listened to people who understand what real money is.
@Anothercoilgun actually those bills are more protected than American bills, they have multiple colors which is harder to fake out and also multiple layered water-marks. US currency is a lot easier to counterfeit.
Good point about a company that has no assets and the value of its stock is questioned. Apple is a good example of this. They don't own the factories in China that make their "stuff". At least an oil company can claim its reserves as value. I get your point with this leading into the value of fiat like the dollar.
The value of 1 share of stock with no income etc is worth what you can sell or trade it to someone else for. Currently paper money does have value and will continue to have value until the faith in it has diminished to the point that people dont want it or refuse it. The FED will not go down without one helluva fight and will make the lives of every person miserable if their game is challenged or threathened. It will be like backing a rabid dog into a corner. Think about it.Rates willgo skyHI
The Dollar has value because people value it and the govt forces you pay your taxes with it. But does it have LASTING value? Example: I own some silver Marks issued by Nazi Germany and they have value. How many would value their paper Marks? Where could you spend them? If Zimbabwe had issued gold or silver coins, they would still be of value while their paper money is worthless.
@davincij15 Canadian or Aussie Dollars aren't nearly as worthless as U.S. Dollars or Euros. But for sure, gold and silver will be better than even the soundest fiat.
-
Today on Fox News Channel, i saw a segment with the headline "HIGH INFLATION MAY DERAIL RECOVERY." They talked about rising food prices, how corn has doubled since June, and now they are facing the decision to raise the debt ceiling.
-
But hey, ya know, you can't blame anyone for this. Nobody could've seen this coming.
So if you owned Facebook, you could trade it for every single piece of silver available in the world? Crazy concept. I would much rather have the silver. Popular websites come and go. Owning all the world's silver? Mmmmmm!
This video is a good counterpart to my recent video on intrinsic value.
But again the comparison quickly reaches its intellectual limit. If you could own the currency of a country (what measure of M would you choose is anyone's guess) you would not own nor control all the assets of the country itself. Also when you control a company you can do what you want with the management and employees of that corporation. Not so with a country, you'd have a hard time sacking government workers and technically the leaders are elected by the people.
But if I wanted to play the game and compare the corporate and national, I would say that the US for instance has a lot of revenue and that generally supports the share price if technlogy, innovation and resources are also there. But the asset part is where you are way off. The US has a lot more assets than debt (unfunded liabilities would disappear in the private sect), so again, playing the corporate/national comparison game, the book value of the US would be positive, and Canada even more so
I'm not sure about the analogy with stocks. Countries are not like corporations and that is why national accounting is different from corporate accounting. The laws governing a country's income and debt, the ownership and control structure, and the manner with which they default is also very different. When we say a currency is the share price of an economy, we simplify things to make a point. Any serious discussion derived from that simplistic definition is likely to be somewhat fallacious.
Love Argentine Pesos...just loved the way it feels and looks. Irony of Ironies is that the US will default and go down likely this year, while Argentina enjoys fairly good times currently. Ha!
@davincij15 Nice gift and it is a great looking coin I like numismatic coin for there beauty and art value , but still plain precious metal are for the real investment and less expensive . Still you re a lucky guy to have such nice gift. Thanks for the reply
I understand your point. Paper money, in and of itself, is worthless... unless people believe it to hold value. That is the problem with our monetary system. So long as currencies are thought of as commodoties then we are screwed. They are supposed to REPRESENT actual wealth. They are supposed to be symbols. Trading symbols for symbols has somehow become an acceptable business. "This shit has got to go" - J.Fresco.
Davinci as always you are making scene but maybe you are underestimating the power the the governments have to keep this currency afloat. Like you said paper money has value as long as people want it... it also has a VERY valuable purpose in our society and I it might be harder than you think for people to walk away from it.
One more question.... Why Gold?... theoretically what intrinsic value dose gold have? yea you cant just print it like money but gold is only worth what people will pay.
Good question! Gold is good for money because you don't need some government to tell you what the rules of the money. The rules are the rules of reality.
1. You can't counterfeit gold.
2. You can't created with out working hard (thus hard work = gold)
3. Gold can be divided into smaller parts without loss of value.
4. Gold is rare but not too rare.
Those reasons and the fact that you can identify it easily, it's compact wealth you can carry around make it money.
@CookingCousins Gold does have intrinsic value, it takes time, labor, and energy to extract it from the ground, take it to be refined, and then sell it in the market for a profit. Gold is one of the few metals that will never rust or corrode, it is a conductor of electricity and the most malleable metal. It is used in computer chips, jet aircraft windows and satellites.
@puapake Again most gold bugs (me not included) throw in words like intrinsic value and reach wild conclusions. In his last vid, Drutter gave his definition of intrinsic value: watch?v=YNB93_9h2ng
Let us remember that intrinsic value is a concept born in philosophy. In short it means direct value as opposed to something that has instrumental value, ie you use it in order to get something of intrinsic value. So according to that definition, gld or any form of money do not have any intrising value
@puapake But then the definition gets applied to numismatics. There it defines the melt value of the metal. And then logic goes that the value of a coin with no numismatic value has 100% intrinsic value and that therefore "gold has intrinsic value". It's completely flawed logic since the definition is originally designed to assess the premium of rare coins vs their melt value.
From that all I hear from my fellow gold bugs is "buy gold, it has intrinsic value". It's not the reason it's going up.
@puapake But what I find even stranger is that the intrinsic value proponents present gold as if its industrial uses have unlimited value. They will claim it is a buy based on this confusing intrinsic value principle at $500/oz, 1000/oz, hell at $10.000/oz they will still tell me it has intrinsic value as their killer argument.
The reality is that CookingCousins gets it just right. Gold only has the value that other people think it has. It is, just like paper money, a currency based on trust.
@BlunderCity No, paper currency is not a store of value. Just look at how fast the money supply has expanded. Did gold production increase 10 fold last year? You've probably heard somewhere before that if you were to take $10,000 or equivalent fiat currency with you in a time machine, and go back or forward just decades, the paper money would not be redeemable. Yet gold has withstood the test of time. Probably because of it's rarity (less than 1 oz per capita) and it literally lasts forever.
@puapake I didn't say paper currency was a (long term ) store of value and neither did CookingCousin so I'm not entirely sure how all that relates to what has been said. What I'm saying, (I keep hammering this out every time I have the chance because it is the most important thing to know in any market) is that value does not depend on the article itself but on other people's perception of its price. Of course there is a correlation between the two but we cannot ignore the market and we often do
@BlunderCity You did say currency is based on trust, and I don't trust the federal reserve based on their actions. "We will not monetize debt"-Ben Bernanke, 2009. "The federal reserve will lease gold as necessary..." Alan Greenspan. Secondly, you are correct about the price being worth what the public perceives. That's why you need to know what it's really worth and not follow tthe herd. Mike Maloney uses the circulating currency and available credit divided by bullion above ground.
@puapake No I said, gold, just like paper money, is a currency based on trust because you only get the value that other people put on it. THEY need to have trust in it in order for your gold to have value which is pretty much the same thing with the US dollar. For as long as people trust it, it HAS value regardless of what you think is going on.
But naturally, as a proponent of gold and a paper money hater, I believe trust in gold will increase and trust in the US dollar will collapse.
@BlunderCity Fiat currency is not a store of value because it is made out of paper, it's value is based on government decree. The fed prints $100 bills for 4 cents. Gold is money because it is a store of value. Like oil, pork bellies, or cotton, it took time and energy to obtain. But unlike those other perishable commodities, its physical properties make it perfect as money. No other element has all the properties of gold, try to name one. Cheers mate
@CookingCousins Gold (and silver, especially silver) has unique properties that make it valuable for use in science, medicine, and technology. Even if a person doesn't care much for it as money, the person can still use it for other things.
I have to disagree. The US federal reserve note will be valuable as long as we are willing to murder anyone who tries to buy oil with other currencies.
Intrinsic value is always linked back to time and effort. The quality of a good is linked to how long it took to produce and how difficult it is to produce. When money is a commodity, those factors are balanced with each trade. Paper is only a promise of intrinsic value and takes no labor or difficulty to produce.
When people accept money with no intrinsic value for their time and labor, they are basically putting all their energy and lives at the feet of those who produce the value-less money.
@davincij15 That was wonderfully put but I don't think that it is beyond the understanding of most people. I think that many people don't want to take the time to understand, and many others have never had it explained to them. The public schools and the mainstream media work so hard to avoid the kind of clear-cut language that people so desperately need to make sense of all this madness!
why do you think that 1oz silver has more value than $30? The only possible answer is thats because you (and only you) think that somebody else will give you more than $30 dollars for it.
How do we call this? Exactly: personal speculation on how people might react in the future.
Maybe your right, maybe not.
Oh by the way, one hint: try to pay at Walmart with your silver, than you might start to figure out the "value" of your "no-value-paper".
@davincij15 Exactly, so you starting to get the point. Thats why saying "has-no-value" is simply not right. You can only say "has less value" or "has more value". Or: "In the future...might have...."
But if you would be precise about that, this video wouldnt catch any attention. It fact, would be obsolete.
There is only one reality. A Ponzi scam has value until it doesn't but I would not put my money in it because it has value today. This is what our paper money is a giant ponzi scam. Thus the only way you can convince me that the dollar will be worth more in the future is if you can convince me that the ponzi scam will continue.
@davincij15 Sure, the purchasing of the dollar will decline, no doubt about that. So why dont buy fuel for your car, or whiskey you can enjoy? You thing these things will be cheaper in the future?
"Sure, the purchasing of the dollar will decline, no doubt about that. So why dont buy fuel for your car, or whiskey you can enjoy? You thing these things will be cheaper in the future?"
I'm not being facetious when I say that's an excellent question!
The reason is because those things do not have the attributes I am looking for.
They are not compact wealth, and gas goes bad. 1 gram of gold = one bottle of fine whiskey.
One US dime minted before 1965 = 1/2 gallon of gas.
@GermanInvestor well why do you think $30 dollar has more value than 1 ounce of silver? Because you (and only you) think that someboy else would give you more than 1 ounce for it in the future. Same shit. But you could always study the fundamentals.
By the way, try pay at your Walmart with for example Swedish kronor, Japanese Yen, or Swiss franc, are you implying they have "no value" also? Or do you think you have to exchange to the local currency before shopping?
Well we have something called history books not sure if you heard of them before. It says we don't learn from them so I decided to take a look see, and it turns out it's fucking right!
Who KNEW!
So what did I learn? Well we tried paper money from debt 3800 times and it always failed and everyone came rushing back to gold and silver. Surprisingly enough it also said paper money can work as long as we don't change the rules.
@davincij15 your problem is, you havent yet figured out, that money does not necessarily have something to do with "store of value", this is a common misunderstanding. You really have to distinguish between these two concepts. An advice: Read more "FOA", "ANOTHER" and "FOFOA" more intense, silver is NOT money.
From my perspective I would say: Buying today at $30 might be considered to me like a good deal. Nothing more and nothing less.
@davincij15 Gold is universally accepted. Read the FOFOA blog and you will understand why. The short version: It is part of the balance sheet of almost every central bank.
By the way, silver is not, also not oil, whiskey, fuel, pork bellies.....
Yes, and I agree with FOFOA's findings where we part company is the notion that people must not act like a central bank and save their own hard money of silver that is cheaper and has the exact same properties as gold with the exception of tarnish and massive industrial usage.
@davincij15 thats not actually whats FOFOA is about. He just explains the developing role of gold in term of "freegold". He doent claim that it is the best and only investment asset.
Again, you are mixing up money, value and investment. For some people this might be the same, but its not. Reading FOFOA you should have understood the difference by now.
e.g. with "GeneralGrowthProperties" I made more than 1000% dividend in 1year, much more than with silver or "freegold"
Look all my life all I wanted to do was work and save. [NOTE: I am not mad at you just the system] I did not want to invest I did not want to buy debt notes. I just wanted to fucking save! FOFOA does not understand the fucking concept!
Well I can't do that with the dollar tokens. I can do that with gold and silver. Simple! Basic! SAVE!
In the future I will trade in my gold and silver when I am unable or unwilling to work. I've already answered why gold and silver.
@davincij15 yes, i know, its kind of disappointing: U are told all your life just lies. "work and save the money...." Part of it is also that money (counting) became a religion. And part of the game is that you will never reach the end.
Thats how I found out: I became multimillionair and saw "the system" from a completely different perspective. The crisis came and I started to ask myself "what is money and does it guarantee my gained freedom". Thats how I got to the deeper understanding.
@davincij15 >>"A store of value" is ONE attribute of money.<<
What? Maybe in your dreams, or what people wrongly consider. But as we know from reality its not. On the other hand: Not everything with a "store of value" is legal tender (<= thats actually what is money).
@davincij15 >>Why do you accept dollars as payment if it doesn't store value for you to buy something later?<<
2reasons: 1.because I have to. 2.because "money" is a virtual token of exchange. Nobody said or guarantees that it is a "store" of value. If I want to "store", I can/should immediately exchange/swap it into any kind of "asset" what I personnally consider a "store of value".some might even consider the picture of the "Mona Lisa" as a store of value, even its also just a piece of paper
@davincij15 I am not debating. Its just obviously _you_ who is so surprised that your paper bill is not a store of value. I wonder what took you so long to find out.;)
The value of the paper comes from the tax payer. Since we are not on a gold standard anymore; we are on the human standard.
The human tax payers labor gives the fiat currency its value. The more taxes (labor) they can extract from the human and the less paper there is in circulation; the more valuable it is.
The US Treassury mortgages birth certifficates for loans from the Federal Resserve. So the labor of the human is the actual asset.
You said very important thing that the entity who is issuing promissory notes, stocks, obligations or bonds need to have either assets or income to back them up. Market value of those paper notes always will be unstable and will fluctuate depending on how issuer is going day by day. Very good point that issuers of most fiat money around the world are broke and have no assets to back their obligations to paper holders.
The value of those notes comes from the institutionalised violence backed behind them by the government, which it utilises to coerce you into accepting their notes for exchange by taxing other mediums of exchange, by enforcing legal tender laws (must accept it for debt), and by forcing you to pay taxes with them. Also to just plain steal resources, e.g. war in Iraq. Without an organised crime agency backing them up, those pieces of paper are only worth the heat you can generate by burning them.
@davincij15 Remember though Divinci, the US Dollar is still the world reserve currency. Other nations from around the world are somewhat forced to exchange for and hold Dollars. I agree a goldless backed Dollar will not last much longer as the world reserve currency, but for now the Dollar doesn't adhere to basic laws of economics.
@residentzombie Will they? China and Russia no longer use dollars when trading oil and goods between each other. India is also making noises about not wanting to use $. Iran threatens to sell oil in Euros.
@kenmorgan1984 So when did the Dollar end as the world reserve currency? Oh it didn't. That's my point. Yes I know countries are trying to get away from Dollars for a bit, but then why do those countries still buy our bonds and still trade with Dollars and still hold Dollars? Like I said the Dollar is still the world reserve currency and until it's status changes as such, the Dollar does not follow all of the basic laws of economics.
@residentzombie some countries have companies being forced to buy bonds from the US; some countries are forced by policy ONLY to buy bonds as a government and so will not look at anything else, no matter the good reasons. China stopped buying US bonds. The Fed is buying them instead. The dollar is always forced to follow the laws of economics and that includes being a world-reserve currency. If only you understood them
@ytgv3fc7 I'm sure I understand Austrian economics alot better than you. Since the Dollar is the world reserve currency currently, it does not go through the fundamentals of basic supply vs. demand laws because of it's current status. Once that status is removed (and it eventually will be) then yes, great pain will come to America for all the people holding US Dollars and not tangible assests. Alot of the fundamentals are implied with the Dollar currently, but you can't live by these currently.
@residentzombie I'm sure you DO NOT. Being the world reserve makes USD MORE not LESS attached to fundemantals of supply and demand, the same as everyone needing oil & food and those fundamentals being more critical than ever. The damage is wide-spread rather than localized, hits harder and faster. Once the status is removed from the USD the damage can be localized. The fundamentals NEVER shut off, not for one second.
I can and do and MUST live CURRENTLY, just as you must, by these rules.
@residentzombie hey FUCKNUT that artificial demand is erased as soon as people use the dollar to buy something else 2 seconds later. If I'm forced to buy silver in USD by my bank then the artificial demand is going to show and then be gone the next day. If I buy in CAD from someone more decent - which I will be very soon - then NO such USD demand shows up. I can work around it. Everyone is trying to. No one WANTS USD and we can work around it. China & Russia did
@residentzombie You're a total fuck-tard absolute moron. When I buy gold using Canadian dollars, US dollars are used in the middle. So yes for 2 seconds they are involved, boosting their reputation, then they're gone again and this reflected later. Because at no time did I actually START or END with US dollars - I went from Canadian dollars to gold. YOU don't know how banking works with gold or how oil is bought with non-US currency. That's how it works
@ytgv3fc7 You seem to think that the world reserve currency is not subject to artifical demand. As I said you need to study Austrian economics more moron. Maybe someone should tell you that the Dollar is still currently being traded world wide on a daily basis. If noone wanted US Dollars then why aren't they selling their bonds? Exactly. The US debt is mostly financed on 2's and 4's, but you are too stupid to even understand these concepts, so please stop wasting my time.
@residentzombie "If noone wanted US Dollars then why aren't they selling their bonds?"
They are and did. Now you can see PIMCO sold ALL their bonds, China is NOT buying any more either.
4 months later and you are PROVEN 100% to be a super-tard dollar-worshipper. Dollars are garbage. Gold is real money. Dollars are just debt that can't be repaid and WILL NOT be repaid.
If you where to take everyones bullion (not silver wear or products) just bullion coins and bars there is an estimate of 1 billion oz of physical bullion silver in existence.
So there is 30 billion dollars of silver people can by right now. To comprehend how small that is Congress considers 30 billion as a rounding error. US government spend 8 billion dollars a day so in less than 4 days they spend that much. Every day $1 trillion dollar of debt is traded.
@davincij15 thanks for those figures, that is incredible how small the silver market/value is, and for such an important metal sounds unbelievable. i can see why you are pretty much all in on Ag. 2 more monster boxes for me Monday, fingers crossed they seems to be bringing price down again. did a bit of research on Facebook possible IPO in 2013, should be interesting.
It's a mazing how almost everyone on the planet has been fooled. That's why I don't give a shit if the paper price of silver goes down it's actually better for me.
If you ever doubt the metals message me I'll help you see the light. It's hard because everything around you contradicts the reality of the metals. However it does so like a magician fools it's audience, with smoke and mirrors. You can believe the magic like most people do but the reality stays the same you can't float in the air you can't be cut in half with out dying and you can't have a fiat system that grows exponentially.
Silver has no "Value"...
InfinityDollar 7 months ago
@InfinityDollar
Value comes from someone needing it for something else.
Right now someone needs dollars to pay taxes or debts thus it has value.
Silver is use in 10,000 applications and it's money like gold is money. Silver has no value to you right now but when it does don't bitch at the people who where smart enough to purchased it before you did.
davincij15 7 months ago 3
I'm pretty sure that there is only 250-300 million oz of physical silver for investors to buy.
GOLDSILVERDUDE 1 year ago
And oh yea, you can't buy facebook stocks aswell because facebook is a private corporation and its ticker symbol is not even listed.
okpapereat 1 year ago
It has value, depending on the year and such, if you find one of those earlier canadian bills mint condition, or if you have uncut sheets you can have numismatic value to it(collectors value).
okpapereat 1 year ago
@EconomicsCafe
At that point in time paying $525,000 for a home was insane if your goal was to store or increase your wealth. Why? Because it was over valued because of easy credit to those that can't pay. Thus so at this point in time paper money time because it's created from debt that has now become unplayable. The facade is now being held together with accounting fraud and coercion.
Since you are not privy to the knowledge of when it will end you must evacuate before it does.
davincij15 1 year ago
@EconomicsCafe
In 2005 a average house had a value that was to high but everyone believed it was correct, so tell me does believing in something make it so? Does value today mean value tomorrow or even just 70 years? (BTW the dollar lost 95% of it's value in that time gold and silver has not)
So when someone asks what gives gold it's value? It's rare element that requires WORK to create while dollars are not, and can be created by anyone borrowing from a bank.
davincij15 1 year ago
Pretty paper !
You can wrap gifts with it !
stratcatavarious 1 year ago
The narration of this video is not much different from the Jerad Loughner videos about government controlling our grammar. Its juvenile and hopelessly lost.
AlcoholLevel 1 year ago
a stock is worth whatever the market thinks it's worth; i guess it's the same with paper currency . . . until the crap hits the fan. then of course, nobody will want it, and it will be worth nothing. that's when the tanks show up on the streets and thugs in jackboots start kicking down your door and mine. nice.
roaringwaterbay 1 year ago
@roaringwaterbay
A Roman Senator suggested that they put a mark on the forehead of the slaves to identify them. The others thought it was a bad idea because the slaves would recognize that they out number us.
davincij15 1 year ago
A 1oz .999 silver coin is a certainty of value in the future. A $1 FRN or canadian Loonie has no certainty of value in the future , because they are today's legal tender instrument (man-made illusion), so they are not a good store of value in an uncertain future. Silver and gold will maintain its material value and buying power thru time no matter what currency is used at that time. Create your own central bank , buy and hold silver and gold , this is your individual power expressed.
buyeyoh 1 year ago
This has been flagged as spam show
Problem: someday and/or one day came be like the second coming and it is 2011.
Two thousand eleven years.
Also you're mistaken currency, the of representation of wealth for exchange purposes, for actual wealth.
In fact that way producers of metal sell theirs and buy stuff.
I would rather take solo possession of just even Google than all the gold in the
cosmosgato 1 year ago
@cosmosgato
YOU said:
"Problem: someday and/or one day came be like the second coming and it is 2011."
Ok Let me work for you for one year one penny the first day and double it every day. I'm assuming you took grade 5 math and would know you would run out of money well before he first month was up.
You see our monetary system is exactly like that, it requires and ever increasing amount of debt to be created.
If a time is what your looking for then this decade we will see the end of the FRN
davincij15 1 year ago
Comment removed
cosmosgato 1 year ago
@Davincij15..
If I may add to your analogy, when you buy stocks, bonds and look at yields and risks involved. You base your purchasing analysis on a set of company's financial data. If you buy stocks from a company with a dangerous ratio of liabilities vs. assets and not a very convincing argument about increasing sales, well ..Your risk of losing your investment is higher. Now, the dollar is the note and the issuing company is the USA/FedRes. See their financial statements vs risk.
batman551 1 year ago
@batman551
Another good point.
davincij15 1 year ago
@batman551 Except that he dollar is not a share of stock.
24seacloud 1 year ago
If I tried to steal it from you would you object? thought so...
24seacloud 1 year ago
@24seacloud
Watch the video.
davincij15 1 year ago
@davincij15 I watched the video and I watched it again before this response. I get what your saying - its not a difficult concept - I just don't share your point of view. Dude - if I stole your fat stack of $100s you would be PISSED - because they have value. That's why you keep it in your wallet and not the trash. Modern currency is backed by more abstract assets than gold or silver but backed it must be or no one would work for it, protect it or even kill for it.
24seacloud 1 year ago
@24seacloud
Your response is proof that a company can exist making no money as long as people are fooled it's all good. I mean you would be mad if I stole a stock with no income and no assets had value today from you. The issue is not the fact it has value today the issue is one day it will has no value and no one will give you any thing for it.
You don't want to be in a ponzi scam when it has value, that's when you get out. Ask people who got burned by madoff.
davincij15 1 year ago
@davincij15 Canada may not have any income or assets but I know the US does, I personaly contribute twice a month. However, I don't know if the stock analogy works. Stocks aren't currency, the're things you spend your currency on.
Is this bust stage of the boom/bust cycle enough to topple the system? It has a lot of momentum and might be harder to stop than you suggest is.
24seacloud 1 year ago
@24seacloud Wood pulp and ink or precious metal, which holds more long term value? Does that make a bit more sense to you "Mr. Intellectual n00b"? Please don't take this the wrong way I am not calling you a noob but a n00b, just wanted to clarify, before you go off on a tangent.
untouchblz 1 year ago
@untouchblz Got it - " n00bs, on the other hand, know little and have no will to learn any more." Thank you for clarifying that, it would have been a shame if I had missed the full impact of your insult.
24seacloud 1 year ago
@24seacloud Anytime.....anytime. The learning curve is different for everyone. Keep your head up.
untouchblz 1 year ago
@24seacloud n00b
untouchblz 1 year ago
@untouchblz Ah...the old "noob" flame. Does calling me names make you feel better about yourself? Glad I could help boost your ego.
24seacloud 1 year ago
@24seacloud n00b not "noob" learn to read, you n00b.
untouchblz 1 year ago
I read an interesting statement: " Gold is the money of kings, Silver is the money of gentlemen, Barter is the money of the poor and Debt is the money of slaves". I think this statement says a lot. WB
TheWildbill242 1 year ago
Stop comparing the Fiat money to toilet paper. Toilet paper has a lot more uses than Fiat money.
smasila 1 year ago
The governments are not broke, they can print all the want. That is why paper money goes to zero.
pirucreek 1 year ago
"Paper is poverty...It is only the ghost of money, and not money itself."- Thomas Jefferson
AvidLifestyle 1 year ago 6
It is simple, cut the 30 dollars into 100 pieces and cut the silver into 100 pieces, take one piece of each. Which one has value?
Tinker1Stinks 1 year ago
Again, I hope people are listening and really getting it. I don't think they are, but I sure hope so. Thinking about the level of suffering that will result simply from what we failed to do when we had the opportunity will be too much for many to take. This is especially true if they've listened to people who understand what real money is.
veritasfiles 1 year ago
I am not sorry, but Canada money is a big damn joke. Did they print that from a 2nd grade art class or something?
Anothercoilgun 1 year ago
@Anothercoilgun actually those bills are more protected than American bills, they have multiple colors which is harder to fake out and also multiple layered water-marks. US currency is a lot easier to counterfeit.
ytgv3fc7 1 year ago
I just took a Poo.. and it had a lot of Bernake in it
NovusChaoMundi 1 year ago
One day? Yes. But when? That is the question. You never answered that one, and you still don't.
rayomans 1 year ago
@rayomans
You can not predict the day people will say... Oh fuck I've been had. If it where not for Ron Paul I would not be here.
davincij15 1 year ago 4
Good point about a company that has no assets and the value of its stock is questioned. Apple is a good example of this. They don't own the factories in China that make their "stuff". At least an oil company can claim its reserves as value. I get your point with this leading into the value of fiat like the dollar.
jimbobubbadj 1 year ago
The value of 1 share of stock with no income etc is worth what you can sell or trade it to someone else for. Currently paper money does have value and will continue to have value until the faith in it has diminished to the point that people dont want it or refuse it. The FED will not go down without one helluva fight and will make the lives of every person miserable if their game is challenged or threathened. It will be like backing a rabid dog into a corner. Think about it.Rates willgo skyHI
feud1111 1 year ago
paper is there so you don't have to carry a bunch of silver/gold/goods with you wherever you go. however, it's not a good store of value.
rockstar728 1 year ago
The Dollar has value because people value it and the govt forces you pay your taxes with it. But does it have LASTING value? Example: I own some silver Marks issued by Nazi Germany and they have value. How many would value their paper Marks? Where could you spend them? If Zimbabwe had issued gold or silver coins, they would still be of value while their paper money is worthless.
Aluminumati 1 year ago
i would say you are describing 'intrinsic' value versus 'percieved'.
the very fact that you can trade the toilet paper for assets confirms it has percieved value.
anyways, probably just mincing words, but i do think perception is a powerful force...
great videos!
HighlyDelusional 1 year ago
@davincij15 Canadian or Aussie Dollars aren't nearly as worthless as U.S. Dollars or Euros. But for sure, gold and silver will be better than even the soundest fiat.
-
Today on Fox News Channel, i saw a segment with the headline "HIGH INFLATION MAY DERAIL RECOVERY." They talked about rising food prices, how corn has doubled since June, and now they are facing the decision to raise the debt ceiling.
-
But hey, ya know, you can't blame anyone for this. Nobody could've seen this coming.
SpecialFester 1 year ago
The only value they have is the BTUs you can get from them for combustion
whygoldandsilver 1 year ago
So if you owned Facebook, you could trade it for every single piece of silver available in the world? Crazy concept. I would much rather have the silver. Popular websites come and go. Owning all the world's silver? Mmmmmm!
This video is a good counterpart to my recent video on intrinsic value.
drutter 1 year ago
Comment removed
Powdermonkey99 1 year ago
Your so very right good sir! Damn I love Silver and Gold !
WickedHazeSilver 1 year ago
facebook what? twilight zone its the twilight zone!
RightBrainSane 1 year ago
Good video.
nedbeaty72 1 year ago
money it just colorful paper this it
wtf4688 1 year ago
Canada has monopoly money
BRGxRandomHero 1 year ago
But again the comparison quickly reaches its intellectual limit. If you could own the currency of a country (what measure of M would you choose is anyone's guess) you would not own nor control all the assets of the country itself. Also when you control a company you can do what you want with the management and employees of that corporation. Not so with a country, you'd have a hard time sacking government workers and technically the leaders are elected by the people.
BlunderCity 1 year ago
But if I wanted to play the game and compare the corporate and national, I would say that the US for instance has a lot of revenue and that generally supports the share price if technlogy, innovation and resources are also there. But the asset part is where you are way off. The US has a lot more assets than debt (unfunded liabilities would disappear in the private sect), so again, playing the corporate/national comparison game, the book value of the US would be positive, and Canada even more so
BlunderCity 1 year ago
I'm not sure about the analogy with stocks. Countries are not like corporations and that is why national accounting is different from corporate accounting. The laws governing a country's income and debt, the ownership and control structure, and the manner with which they default is also very different. When we say a currency is the share price of an economy, we simplify things to make a point. Any serious discussion derived from that simplistic definition is likely to be somewhat fallacious.
BlunderCity 1 year ago
I thought there was less than 1 billion ounces available for any purchase, industrial and investment purposes, no?
thegoodgreen1 1 year ago
Love Argentine Pesos...just loved the way it feels and looks. Irony of Ironies is that the US will default and go down likely this year, while Argentina enjoys fairly good times currently. Ha!
powergirl901 1 year ago
Haha you are showing the Canadarm - piece en argent sterling 2006 which you probably have paid $ 80 to $90.00 not $ 30.00
THESHADOWATCHER 1 year ago
@THESHADOWATCHER
Actually it was a gift and the retail price of silver when it was purchased was $40.
davincij15 1 year ago
@davincij15 Nice gift and it is a great looking coin I like numismatic coin for there beauty and art value , but still plain precious metal are for the real investment and less expensive . Still you re a lucky guy to have such nice gift. Thanks for the reply
THESHADOWATCHER 1 year ago
Good analogy Davinci. But you have to admit, Canadian paper money is pretty.
puapake 1 year ago
@puapake
I love my multi-coloured money :P
Threshy001 1 year ago
I understand your point. Paper money, in and of itself, is worthless... unless people believe it to hold value. That is the problem with our monetary system. So long as currencies are thought of as commodoties then we are screwed. They are supposed to REPRESENT actual wealth. They are supposed to be symbols. Trading symbols for symbols has somehow become an acceptable business. "This shit has got to go" - J.Fresco.
MercuryReliance 1 year ago
you guys have some cool looking bills!
detectingupstate 1 year ago
Imagine, we've gotten to the point where people ascribe the same value to a social networking site as all the silver bullion in the world. Wow.
BookofNick 1 year ago
Davinci as always you are making scene but maybe you are underestimating the power the the governments have to keep this currency afloat. Like you said paper money has value as long as people want it... it also has a VERY valuable purpose in our society and I it might be harder than you think for people to walk away from it.
One more question.... Why Gold?... theoretically what intrinsic value dose gold have? yea you cant just print it like money but gold is only worth what people will pay.
CookingCousins 1 year ago
@CookingCousins
Good question! Gold is good for money because you don't need some government to tell you what the rules of the money. The rules are the rules of reality.
1. You can't counterfeit gold.
2. You can't created with out working hard (thus hard work = gold)
3. Gold can be divided into smaller parts without loss of value.
4. Gold is rare but not too rare.
Those reasons and the fact that you can identify it easily, it's compact wealth you can carry around make it money.
davincij15 1 year ago
@davincij15 Very well put.
Musique3579 1 year ago
@CookingCousins
Thanks for asking if you have any more questions PLEASE ask.
davincij15 1 year ago
@CookingCousins Gold does have intrinsic value, it takes time, labor, and energy to extract it from the ground, take it to be refined, and then sell it in the market for a profit. Gold is one of the few metals that will never rust or corrode, it is a conductor of electricity and the most malleable metal. It is used in computer chips, jet aircraft windows and satellites.
puapake 1 year ago
@puapake Again most gold bugs (me not included) throw in words like intrinsic value and reach wild conclusions. In his last vid, Drutter gave his definition of intrinsic value: watch?v=YNB93_9h2ng
Let us remember that intrinsic value is a concept born in philosophy. In short it means direct value as opposed to something that has instrumental value, ie you use it in order to get something of intrinsic value. So according to that definition, gld or any form of money do not have any intrising value
BlunderCity 1 year ago
@puapake But then the definition gets applied to numismatics. There it defines the melt value of the metal. And then logic goes that the value of a coin with no numismatic value has 100% intrinsic value and that therefore "gold has intrinsic value". It's completely flawed logic since the definition is originally designed to assess the premium of rare coins vs their melt value.
From that all I hear from my fellow gold bugs is "buy gold, it has intrinsic value". It's not the reason it's going up.
BlunderCity 1 year ago
@puapake But what I find even stranger is that the intrinsic value proponents present gold as if its industrial uses have unlimited value. They will claim it is a buy based on this confusing intrinsic value principle at $500/oz, 1000/oz, hell at $10.000/oz they will still tell me it has intrinsic value as their killer argument.
The reality is that CookingCousins gets it just right. Gold only has the value that other people think it has. It is, just like paper money, a currency based on trust.
BlunderCity 1 year ago
@BlunderCity No, paper currency is not a store of value. Just look at how fast the money supply has expanded. Did gold production increase 10 fold last year? You've probably heard somewhere before that if you were to take $10,000 or equivalent fiat currency with you in a time machine, and go back or forward just decades, the paper money would not be redeemable. Yet gold has withstood the test of time. Probably because of it's rarity (less than 1 oz per capita) and it literally lasts forever.
puapake 1 year ago
@puapake I didn't say paper currency was a (long term ) store of value and neither did CookingCousin so I'm not entirely sure how all that relates to what has been said. What I'm saying, (I keep hammering this out every time I have the chance because it is the most important thing to know in any market) is that value does not depend on the article itself but on other people's perception of its price. Of course there is a correlation between the two but we cannot ignore the market and we often do
BlunderCity 1 year ago
@BlunderCity You did say currency is based on trust, and I don't trust the federal reserve based on their actions. "We will not monetize debt"-Ben Bernanke, 2009. "The federal reserve will lease gold as necessary..." Alan Greenspan. Secondly, you are correct about the price being worth what the public perceives. That's why you need to know what it's really worth and not follow tthe herd. Mike Maloney uses the circulating currency and available credit divided by bullion above ground.
puapake 1 year ago
@puapake No I said, gold, just like paper money, is a currency based on trust because you only get the value that other people put on it. THEY need to have trust in it in order for your gold to have value which is pretty much the same thing with the US dollar. For as long as people trust it, it HAS value regardless of what you think is going on.
But naturally, as a proponent of gold and a paper money hater, I believe trust in gold will increase and trust in the US dollar will collapse.
BlunderCity 1 year ago
@BlunderCity Fiat currency is not a store of value because it is made out of paper, it's value is based on government decree. The fed prints $100 bills for 4 cents. Gold is money because it is a store of value. Like oil, pork bellies, or cotton, it took time and energy to obtain. But unlike those other perishable commodities, its physical properties make it perfect as money. No other element has all the properties of gold, try to name one. Cheers mate
puapake 1 year ago
@CookingCousins Gold (and silver, especially silver) has unique properties that make it valuable for use in science, medicine, and technology. Even if a person doesn't care much for it as money, the person can still use it for other things.
chiyerano 1 year ago
As Catherine Austin Fitts says the value of the dollar is backed by the military.
OurTimeIsOut 1 year ago
I have to disagree. The US federal reserve note will be valuable as long as we are willing to murder anyone who tries to buy oil with other currencies.
JesusDillinger 1 year ago
@JesusDillinger
Well, then hold the paper and support the murder to keep yourself wealthy.
davincij15 1 year ago
@davincij15 Hmm. It seems my sarcasm went misunderstood. What I mean is that the US federal reserve note is worthless blood money.
JesusDillinger 1 year ago
@JesusDillinger
Sorry, just so you know, one line sarcasm does not work without prior context in the written word.
It works most of the time in a video where you can see a person expression and hear the tone.
davincij15 1 year ago
@davincij15 Point taken.
Have you noticed how many of these comments are about how pretty the various paper currencies are? Holy crap, people are vacuous.
JesusDillinger 1 year ago
@JesusDillinger
Don't be mean, they are just being nice by saying something.
BTW What I do even when context is clear is add [sarcasm] with brackets at the end of they sentence.
davincij15 1 year ago
@davincij15 Hmm. You're right again. Maybe I should listen more and talk less. God bless.
JesusDillinger 1 year ago
Intrinsic value is always linked back to time and effort. The quality of a good is linked to how long it took to produce and how difficult it is to produce. When money is a commodity, those factors are balanced with each trade. Paper is only a promise of intrinsic value and takes no labor or difficulty to produce.
When people accept money with no intrinsic value for their time and labor, they are basically putting all their energy and lives at the feet of those who produce the value-less money.
MoneyIsSilver 1 year ago
@MoneyIsSilver
Well said but beyond the understanding of most people.
davincij15 1 year ago
@davincij15 That was wonderfully put but I don't think that it is beyond the understanding of most people. I think that many people don't want to take the time to understand, and many others have never had it explained to them. The public schools and the mainstream media work so hard to avoid the kind of clear-cut language that people so desperately need to make sense of all this madness!
BookofNick 1 year ago
why do you think that 1oz silver has more value than $30? The only possible answer is thats because you (and only you) think that somebody else will give you more than $30 dollars for it.
How do we call this? Exactly: personal speculation on how people might react in the future.
Maybe your right, maybe not.
Oh by the way, one hint: try to pay at Walmart with your silver, than you might start to figure out the "value" of your "no-value-paper".
GermanInvestor 1 year ago
@GermanInvestor
That logic can be said about anything. So I don't deny it.
However, a person can ask another question.... Why?
Why do I believe that silver is worth more than $30?
davincij15 1 year ago
@davincij15 Exactly, so you starting to get the point. Thats why saying "has-no-value" is simply not right. You can only say "has less value" or "has more value". Or: "In the future...might have...."
But if you would be precise about that, this video wouldnt catch any attention. It fact, would be obsolete.
GermanInvestor 1 year ago
@GermanInvestor
There is only one reality. A Ponzi scam has value until it doesn't but I would not put my money in it because it has value today. This is what our paper money is a giant ponzi scam. Thus the only way you can convince me that the dollar will be worth more in the future is if you can convince me that the ponzi scam will continue.
davincij15 1 year ago
@davincij15 Sure, the purchasing of the dollar will decline, no doubt about that. So why dont buy fuel for your car, or whiskey you can enjoy? You thing these things will be cheaper in the future?
GermanInvestor 1 year ago
@GermanInvestor
"Sure, the purchasing of the dollar will decline, no doubt about that. So why dont buy fuel for your car, or whiskey you can enjoy? You thing these things will be cheaper in the future?"
I'm not being facetious when I say that's an excellent question!
The reason is because those things do not have the attributes I am looking for.
They are not compact wealth, and gas goes bad. 1 gram of gold = one bottle of fine whiskey.
One US dime minted before 1965 = 1/2 gallon of gas.
davincij15 1 year ago
@GermanInvestor well why do you think $30 dollar has more value than 1 ounce of silver? Because you (and only you) think that someboy else would give you more than 1 ounce for it in the future. Same shit. But you could always study the fundamentals.
By the way, try pay at your Walmart with for example Swedish kronor, Japanese Yen, or Swiss franc, are you implying they have "no value" also? Or do you think you have to exchange to the local currency before shopping?
kricke243 1 year ago
@GermanInvestor
Why?
Well we have something called history books not sure if you heard of them before. It says we don't learn from them so I decided to take a look see, and it turns out it's fucking right!
Who KNEW!
So what did I learn? Well we tried paper money from debt 3800 times and it always failed and everyone came rushing back to gold and silver. Surprisingly enough it also said paper money can work as long as we don't change the rules.
Lets see if we did that....
davincij15 1 year ago
@davincij15 your problem is, you havent yet figured out, that money does not necessarily have something to do with "store of value", this is a common misunderstanding. You really have to distinguish between these two concepts. An advice: Read more "FOA", "ANOTHER" and "FOFOA" more intense, silver is NOT money.
From my perspective I would say: Buying today at $30 might be considered to me like a good deal. Nothing more and nothing less.
GermanInvestor 1 year ago
@GermanInvestor
"A store of value" is ONE attribute of money.
Both gold and paper money have all the attributes of money except one.
Gold is not universally accepted and paper is not a long term store of wealth.
Thus witch would you like to save to buy something in the future, Gold or Paper?
davincij15 1 year ago
@davincij15 Gold is universally accepted. Read the FOFOA blog and you will understand why. The short version: It is part of the balance sheet of almost every central bank.
By the way, silver is not, also not oil, whiskey, fuel, pork bellies.....
GermanInvestor 1 year ago
@GermanInvestor
Yes, and I agree with FOFOA's findings where we part company is the notion that people must not act like a central bank and save their own hard money of silver that is cheaper and has the exact same properties as gold with the exception of tarnish and massive industrial usage.
davincij15 1 year ago
@davincij15 thats not actually whats FOFOA is about. He just explains the developing role of gold in term of "freegold". He doent claim that it is the best and only investment asset.
Again, you are mixing up money, value and investment. For some people this might be the same, but its not. Reading FOFOA you should have understood the difference by now.
e.g. with "GeneralGrowthProperties" I made more than 1000% dividend in 1year, much more than with silver or "freegold"
GermanInvestor 1 year ago
@GermanInvestor
Look all my life all I wanted to do was work and save. [NOTE: I am not mad at you just the system] I did not want to invest I did not want to buy debt notes. I just wanted to fucking save! FOFOA does not understand the fucking concept!
Well I can't do that with the dollar tokens. I can do that with gold and silver. Simple! Basic! SAVE!
In the future I will trade in my gold and silver when I am unable or unwilling to work. I've already answered why gold and silver.
davincij15 1 year ago
@davincij15 yes, i know, its kind of disappointing: U are told all your life just lies. "work and save the money...." Part of it is also that money (counting) became a religion. And part of the game is that you will never reach the end.
Thats how I found out: I became multimillionair and saw "the system" from a completely different perspective. The crisis came and I started to ask myself "what is money and does it guarantee my gained freedom". Thats how I got to the deeper understanding.
GermanInvestor 1 year ago
@davincij15 >>"A store of value" is ONE attribute of money.<<
What? Maybe in your dreams, or what people wrongly consider. But as we know from reality its not. On the other hand: Not everything with a "store of value" is legal tender (<= thats actually what is money).
GermanInvestor 1 year ago
@GermanInvestor
I said "A store of value" is ONE attribute of money."
Your response: "What? Maybe in your dreams."
I stopped reading after that and have one question?
Why do you accept dollars as payment if it doesn't store value for you to buy something later?
davincij15 1 year ago
@davincij15 >>Why do you accept dollars as payment if it doesn't store value for you to buy something later?<<
2reasons: 1.because I have to. 2.because "money" is a virtual token of exchange. Nobody said or guarantees that it is a "store" of value. If I want to "store", I can/should immediately exchange/swap it into any kind of "asset" what I personnally consider a "store of value".some might even consider the picture of the "Mona Lisa" as a store of value, even its also just a piece of paper
GermanInvestor 1 year ago
@GermanInvestor
So let me get this straight you are debating whether or not "money" (no mater what item you use as money) is a store of value?
davincij15 1 year ago
@davincij15 I am not debating. Its just obviously _you_ who is so surprised that your paper bill is not a store of value. I wonder what took you so long to find out.;)
GermanInvestor 1 year ago
@davincij15 LOL at history books! Classic!!
Also the debate between davinci and GermanInvestor is epic!! I like it!!!
BlunderCity 1 year ago
@GermanInvestor
Did we let banks and businesses fail or did we print more money to bail them out?
Did we balance the budget in governments or do we run deficits that are basically printing money?
Did the public live within its means or did it borrow aka print money to buy shit?
Did big biz have accounting rules changed so the hide loses? (Example: Mark to Fantasy)
Did we create "Weapons of mass financial destruction" (google it) called derivatives?
davincij15 1 year ago
@GermanInvestor
Thus I have a question to you...
Why do you think your dollars will be more valuable in the future?
davincij15 1 year ago
Yes!!! You mentioned Canada eh??!! LOL
Great video, very clear and detailed.
Paper is trash gold and silver is money and NOTHING ELSE!!!
kryogenikz 1 year ago
The value of the paper comes from the tax payer. Since we are not on a gold standard anymore; we are on the human standard.
The human tax payers labor gives the fiat currency its value. The more taxes (labor) they can extract from the human and the less paper there is in circulation; the more valuable it is.
The US Treassury mortgages birth certifficates for loans from the Federal Resserve. So the labor of the human is the actual asset.
Thats why were issued SSN's along with the FR.
dodoinurpants 1 year ago
Canadian $ looks like Australian $
silveraustralia14 1 year ago
@silveraustralia14 I was just thinking the same thing.
chiyerano 1 year ago
You said very important thing that the entity who is issuing promissory notes, stocks, obligations or bonds need to have either assets or income to back them up. Market value of those paper notes always will be unstable and will fluctuate depending on how issuer is going day by day. Very good point that issuers of most fiat money around the world are broke and have no assets to back their obligations to paper holders.
Alexiscom1 1 year ago
The value of those notes comes from the institutionalised violence backed behind them by the government, which it utilises to coerce you into accepting their notes for exchange by taxing other mediums of exchange, by enforcing legal tender laws (must accept it for debt), and by forcing you to pay taxes with them. Also to just plain steal resources, e.g. war in Iraq. Without an organised crime agency backing them up, those pieces of paper are only worth the heat you can generate by burning them.
ericfontainejazz 1 year ago
How is Facebook and Google valued so high yet they don't produce a sinlge thing? Maybe except for the Google phone.
smasila 1 year ago
can i just double check, did you say face book shares are worth more than available silver?
bruno188home 1 year ago
@bruno188home
Goldman Sucks said FaceBook valuation was 50 billion.
davincij15 1 year ago
@davincij15 Remember though Divinci, the US Dollar is still the world reserve currency. Other nations from around the world are somewhat forced to exchange for and hold Dollars. I agree a goldless backed Dollar will not last much longer as the world reserve currency, but for now the Dollar doesn't adhere to basic laws of economics.
residentzombie 1 year ago
@residentzombie Will they? China and Russia no longer use dollars when trading oil and goods between each other. India is also making noises about not wanting to use $. Iran threatens to sell oil in Euros.
kenmorgan1984 1 year ago
@kenmorgan1984 So when did the Dollar end as the world reserve currency? Oh it didn't. That's my point. Yes I know countries are trying to get away from Dollars for a bit, but then why do those countries still buy our bonds and still trade with Dollars and still hold Dollars? Like I said the Dollar is still the world reserve currency and until it's status changes as such, the Dollar does not follow all of the basic laws of economics.
residentzombie 1 year ago
@residentzombie some countries have companies being forced to buy bonds from the US; some countries are forced by policy ONLY to buy bonds as a government and so will not look at anything else, no matter the good reasons. China stopped buying US bonds. The Fed is buying them instead. The dollar is always forced to follow the laws of economics and that includes being a world-reserve currency. If only you understood them
ytgv3fc7 1 year ago
@ytgv3fc7 I'm sure I understand Austrian economics alot better than you. Since the Dollar is the world reserve currency currently, it does not go through the fundamentals of basic supply vs. demand laws because of it's current status. Once that status is removed (and it eventually will be) then yes, great pain will come to America for all the people holding US Dollars and not tangible assests. Alot of the fundamentals are implied with the Dollar currently, but you can't live by these currently.
residentzombie 1 year ago
@residentzombie I'm sure you DO NOT. Being the world reserve makes USD MORE not LESS attached to fundemantals of supply and demand, the same as everyone needing oil & food and those fundamentals being more critical than ever. The damage is wide-spread rather than localized, hits harder and faster. Once the status is removed from the USD the damage can be localized. The fundamentals NEVER shut off, not for one second.
I can and do and MUST live CURRENTLY, just as you must, by these rules.
ytgv3fc7 1 year ago
@ytgv3fc7 The Dollar's status as world reserve currency creates artifical demand for it moron.
residentzombie 1 year ago
@residentzombie hey FUCKNUT that artificial demand is erased as soon as people use the dollar to buy something else 2 seconds later. If I'm forced to buy silver in USD by my bank then the artificial demand is going to show and then be gone the next day. If I buy in CAD from someone more decent - which I will be very soon - then NO such USD demand shows up. I can work around it. Everyone is trying to. No one WANTS USD and we can work around it. China & Russia did
ytgv3fc7 1 year ago
@ytgv3fc7 So Dollars disappear 2 seconds after someone spends them? lmao you are one crazy nutjob moron.
residentzombie 1 year ago
@residentzombie You're a total fuck-tard absolute moron. When I buy gold using Canadian dollars, US dollars are used in the middle. So yes for 2 seconds they are involved, boosting their reputation, then they're gone again and this reflected later. Because at no time did I actually START or END with US dollars - I went from Canadian dollars to gold. YOU don't know how banking works with gold or how oil is bought with non-US currency. That's how it works
ytgv3fc7 9 months ago
@ytgv3fc7 You seem to think that the world reserve currency is not subject to artifical demand. As I said you need to study Austrian economics more moron. Maybe someone should tell you that the Dollar is still currently being traded world wide on a daily basis. If noone wanted US Dollars then why aren't they selling their bonds? Exactly. The US debt is mostly financed on 2's and 4's, but you are too stupid to even understand these concepts, so please stop wasting my time.
residentzombie 1 year ago
This has been flagged as spam show
@residentzombie "If noone wanted US Dollars then why aren't they selling their bonds?"
They are and did. Now you can see PIMCO sold ALL their bonds, China is NOT buying any more either.
4 months later and you are PROVEN 100% to be a super-tard dollar-worshipper. Dollars are garbage. Gold is real money. Dollars are just debt that can't be repaid and WILL NOT be repaid.
ytgv3fc7 9 months ago
@bruno188home
If you where to take everyones bullion (not silver wear or products) just bullion coins and bars there is an estimate of 1 billion oz of physical bullion silver in existence.
So there is 30 billion dollars of silver people can by right now. To comprehend how small that is Congress considers 30 billion as a rounding error. US government spend 8 billion dollars a day so in less than 4 days they spend that much. Every day $1 trillion dollar of debt is traded.
davincij15 1 year ago
@bruno188home
The percentage of world wide money supply in silver is 0.000045% that's up from 0.000018% just 2 years ago. ;)
Currently only 0.8 percent of world money is in gold and gold stocks.
The world historic average has been 26%.
davincij15 1 year ago
@davincij15 thanks for those figures, that is incredible how small the silver market/value is, and for such an important metal sounds unbelievable. i can see why you are pretty much all in on Ag. 2 more monster boxes for me Monday, fingers crossed they seems to be bringing price down again. did a bit of research on Facebook possible IPO in 2013, should be interesting.
bruno188home 1 year ago
Well said
GuildF40 1 year ago
You speaking to intrinsic value verses perceived value. Yep, gets em every time.
62636263c 1 year ago
Good video!
wp4565775 1 year ago
Very well put.
JOHNNYH8STHENWO 1 year ago
I saw this video title and started laughing.
It is so obvious. Have we all been living in a dream?
Skullstation 1 year ago
@Skullstation
It's a mazing how almost everyone on the planet has been fooled. That's why I don't give a shit if the paper price of silver goes down it's actually better for me.
davincij15 1 year ago
Leave it to the government to make something as useful as paper and make it completely worthless.
eurohim 1 year ago
@eurohim
LOL
davincij15 1 year ago
What you say is true, but Canada is in one of the best situation economically compared to a lot of other nations.
Pierretactical007 1 year ago
@Pierretactical007
Please! We cover it up better than any other nation.
google "Ontario vs California"
Fiat money is a confidence game and we in Canada are good at CONing the world.
davincij15 1 year ago
COLD HARD CASH
last I checked, paper was not cold or hard
10iggi01 1 year ago
Every cloud has a silver lining.
jsmythib 1 year ago
Thanks! :)
HyperReport 1 year ago
Thanks Davinci, everytime I start to doubt the metal, you make it so crystal clear! or "silver shinny"
kindacoiny 1 year ago
@kindacoiny
If you ever doubt the metals message me I'll help you see the light. It's hard because everything around you contradicts the reality of the metals. However it does so like a magician fools it's audience, with smoke and mirrors. You can believe the magic like most people do but the reality stays the same you can't float in the air you can't be cut in half with out dying and you can't have a fiat system that grows exponentially.
davincij15 1 year ago
thanks davinci
fal2grace 1 year ago
@fal2grace
Glad you liked it.
davincij15 1 year ago
Our Government? Canada ? It's no longer *our* Government. lol. Canada Has Been Hi-Jacked by Stephen Harper ! lol.
TheSilverWatch 1 year ago