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Gold demand falls 11pc


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#16    shaddow134

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Posted 16 November 2012 - 01:13 AM

View PostBavarian Raven, on 16 November 2012 - 12:42 AM, said:

Well the nice thing about gold is (Actual gold) that even if there was a world wide disaster that threw us into a pseudo-medieval state (extremely unlikely), gold would still be worth something as a trade item. :yes:
Agreed far easier to melt gold down into usable currency.

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#17    lightly

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Posted 16 November 2012 - 02:06 AM

View Postaztek, on 15 November 2012 - 03:53 PM, said:

everyone has that, it' s called american dollar.

... unfortunately,  the U.S.  dollar is no longer redeemable  for  .. anything.     I'm looking at a 1934  five dollar bill which says , from top to bottom;
   $___________________________________________________________________________________$
                                                      SILVER CERTIFICATE

    this certifies that there is on deposit in the treasury of    THE UNITED STATES OF AMERICA


                                                             FIVE DOLLARS


                                     in Silver Payable To The Bearer On Demand •
  $ ___________________________________________________________________________________$

     At the top of paper money now  it simply says ,  Federal Reserve Note.

Important:  The above may contain errors, inaccuracies, omissions, and other limitations.

#18    Lilly

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Posted 16 November 2012 - 02:09 AM

Uh...anybody here doesn't want their gold can give it to me. :innocent:

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#19    shaddow134

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Posted 16 November 2012 - 02:18 AM

View PostLilly, on 16 November 2012 - 02:09 AM, said:

Uh...anybody here doesn't want their gold can give it to me. :innocent:
They can throw a couple of bars my way as well

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#20    Lilly

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Posted 16 November 2012 - 02:21 AM

View Postshaddow134, on 16 November 2012 - 02:18 AM, said:

They can throw a couple of bars my way as well

Sshhh...I thought of it first! :lol:

Oh, and any of those "devalued" diamonds would be ok as well.

Edited by Lilly, 16 November 2012 - 02:22 AM.
addition

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#21    little_dreamer

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Posted 16 November 2012 - 02:38 AM

I got rid of most of my gold 2 years ago when the price was relatively high, for about $300.  I didn't have much anyway, just a few pieces of jewelry.

I have heard gold is not really a good investment bet against inflation anyway.

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#22    Bavarian Raven

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Posted 16 November 2012 - 03:47 AM

I'll also take any unwanted gold :w00t:


#23    acidhead

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Posted 16 November 2012 - 05:00 AM

View Postlittle_dreamer, on 16 November 2012 - 02:38 AM, said:

I got rid of most of my gold 2 years ago when the price was relatively high, for about $300.  I didn't have much anyway, just a few pieces of jewelry.

I have heard gold is not really a good investment bet against inflation anyway.

What you heard was poor advice.  Gold has always been used historically as a hedge against inflation.  There is a reason why GOV's and Central banks around the globe keep reserves of Gold in their vaults as opposed to diamonds or petroleum.

Edited by acidhead, 16 November 2012 - 05:01 AM.

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#24    joc

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Posted 16 November 2012 - 06:57 AM

View PostBavarian Raven, on 16 November 2012 - 12:42 AM, said:

Well the nice thing about gold is (Actual gold) that even if there was a world wide disaster that threw us into a pseudo-medieval state (extremely unlikely), gold would still be worth something as a trade item. :yes:
The thing about a world wide economic disaster is that millions, if not billions of people will die from starvation and disease and....oh yeah...your gold...what are you going to do with it exactly?  Oh, trade it for food?  Maybe...but as soon as you do...word will immediately begin circulating that...'Shhh, don't tell anyone but, Bavarian Raven has gold...and then someone will kill you for it.  It's not a very liquid monetary unit you know.

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#25    and then

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Posted 16 November 2012 - 05:40 PM

If I had, say, 350,000 dollars I had saved for retirement and I saw the imminent collapse of the currency I could see spending the cash to possess gold coins.  Not as a way to grow money but as a way to save some of the wealth I had accumulated.  If the currency goes then I lose ALL my money.  If I have actual gold coins cached away in a place no one but I know of then IF the economy ever revived I can "buy back in".  On the flip side, if I need seeds to grow a garden or some antibiotics to treat a child's infected leg or throat then how many of those coins am I willing to part with?  It would be like raw barter with no enforceable standards.  And I guess I'd better buy a gun, also....

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