Gold

[eroticartist]

With depression on the cards and the realization that paper money is just paper with no intrinsic value has anyone thought of buying gold and using it as a medium of exchange?
Mike Freeman.

[TheDonkeyWork]

Erm... no... but isn't the measure of Gold's value only based on what the paper buys anyway? Doesn;t it all come back to paper anyway? I dunno...

[planeterotica]

Gold is priced in Dollars so there we hit a problem, you can hold physical gold but someone would probably nick it !sad!

[TheDonkeyWork]

But even the physical gold still comes back to a paper value - right? Any material thing is only worth the paper equivelant someone's going to hand over for it... everything - sooner or later - comes back to currency - doesn't it?????

[colin]

Unless you barter with it for gooda,but pretty impractical!

[JonnyHungwell]

There are companies who will buy and hold gold for you, like shares. You just buy so many ounces and cash the units in if you need real cash. But knowing the dodgy sorts who inhabit the world of finance, it'd probably turnout the greedy bastards were selling the same ounce 40 times over

[JonnyHungwell]

They were discussing the history of owning gold on R4 a month or so back. Apparently sometime in the 60's some Mexican teacher walked into a London dealer and put all his money into Krugerrands, just before the price of gold rocketed. Can't remember how much he made, but it was a fortune in Mexican terms - they reckoned he would never need to work again.

Isn't the trouble with gold the same as diamonds - certain countries hold huge reserves and can destroy the price by releasing huge amounts onto the market at any one time - something the Russians or Chinese may well do on purpose, just to screw us.

[planeterotica]

TheDonkeyWork wrote:

> But even the physical gold still comes back to a paper value -
> right? Any material thing is only worth the paper equivelant
> someone's going to hand over for it... everything - sooner or
> later - comes back to currency - doesn't it?????
>
planeterotica wrote:

Gold is a currency.

[planeterotica]

JonnyHungwell wrote:

> They were discussing the history of owning gold on R4 a month
> or so back. Apparently sometime in the 60's some Mexican
> teacher walked into a London dealer and put all his money into
> Krugerrands, just before the price of gold rocketed. Can't
> remember how much he made, but it was a fortune in Mexican
> terms - they reckoned he would never need to work again.
>
> Isn't the trouble with gold the same as diamonds - certain
> countries hold huge reserves and can destroy the price by
> releasing huge amounts onto the market at any one time -
> something the Russians or Chinese may well do on purpose, just
> to screw us.

planeterotica wrote:

Thats something the British goverment cant do as our clever prime minister when chancellor sold all our gold off cheap and i bet he wished he still had it, and there he was at conference sprouting this is no time for a novice, he fucked up when times were good, still he did admit to making mistakes and his biggest one was being born !furious!

[Lizard]

Yep, he sure has the Mardass touch..