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 Replies: 20 / Views: 2,417 |
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Pillar of the Community
United States
1903 Posts |
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Valued Member
United States
103 Posts |
Nice, I was seriously milling over a roll of philharmonics yesterday evening, but I didn't pull the trigger.
Guess I'm on the sidelines now...
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Valued Member
United States
200 Posts |
I am also waiting on the sidelines. Bought a little too much recently, trying to offload some of the duplicates before starting buying again.
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Valued Member
United States
141 Posts |
go back down silver! I need to do some buying..
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Pillar of the Community
1283 Posts |
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Pillar of the Community
United States
4008 Posts |
Like a lot of others here, I am split between two different thoughts here. First, I am happy that my silver hoard is more valuable in fiat terms than it was but then I am also unhappy that it is getting more expensive to buy. Is this a wash? Maybe.
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Pillar of the Community
Canada
1502 Posts |
your silver is not worth more (or less) paper money until you sell.
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Pillar of the Community
 United States
1903 Posts |
what is "paper money" worth anyway?LOL bout all it is worth anymore is to wipe your...well, you get the idea.
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Pillar of the Community
United States
4008 Posts |
Quote:
your silver is not worth more (or less) paper money until you sell. So, worth is conditional based upon whether or not it is sold? In that case, how do you determine when to sell, if not by the price that you can get for it? Quote:
what is "paper money" worth anyway?LOL bout all it is worth anymore is to wipe your...well, you get the idea. Indeed. OTOH, money value also can be determined by how much work we have to do to get it. It can also be determined by how much we can buy with it. |
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Pillar of the Community
United States
1903 Posts |
actually "paper money" under current conditions (FIAT) isn't worth anything. It is only a promise and a negotiation tool even though it has no tangible backing behind it. Todays FIAT currency would be akin to going to a pawnshop with a piece of paper that says "IOU $500" and getting a $100 loan against it. If the next person doesn't believe it is a real promise, it isn't worth anything. Todays money in america is simply trusted blindly because we all suffer from some form of mass dillusion that it is really worth anything. When again you examine what I just said....gold, silver, platinum...they are all just alternative forms of "negotiation tools", and equally just a promise as you, the holder of the precious metal really cant "do" anything with it to sustain your life. If you really want to get down to it...the only true items of value are the things that sustain us....food, water, clothes...etc. With that being said...maybe I should be investing in seeds instead of silver.
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Pillar of the Community
United States
3294 Posts |
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actually "paper money" under current conditions (FIAT) isn't worth anything. The fact that I can trade a few paper money notes for a tank of gasoline, or a loads of groceries disproves that. |
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Bedrock of the Community
13014 Posts |
Nod thats true, but you have to take into account the next sentence as well Quote:
It is only a promise and a negotiation tool even though it has no tangible backing behind it While it is true you can buy and sell things with it, its also true that its only worth that because we say so and no other reason. If the government fell apart it would be worth nothing. Even a situation like greece would severely devalue it. In the past when PMs were part of money even if the country fell apart the money would have still had value for the metal. Currently our money does have value, but nothing backing it so it could in fact be worth nothing one day. You and roller are both right |
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Pillar of the Community
United States
1903 Posts |
Actually if you read up on FIAT currency...it is backed by the FUTURE potential of our nation to produce goods. I emphasize future on purpose because the future does not exsist yet. By that measure it would be fair to say that our current paper money is backed by vaporware, backed by some hopeful, as yet non-exsistant, speculation of the future. With the current GDP of the United States sitting roughly at 15 trillion and the debt at 16 trillion...you do the math.....even by FIAT rules our money is worth nothing. The only thing holding up the "value" of our paper money is faith...nothing more.
Edited by unholyroller
09/02/2012 4:22 pm
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Pillar of the Community
United States
4008 Posts |
Interesting conversation on the value or worth of fiat currency. I understand BOTH sides of the conversation. No, fiat is not of any intrinsic value whatever but it IS of commercial value in that everyone else thinks that it has value and treats it as such. Anyone here refuse fiat in exchange for their labor? Fiat currency CAN be traded to just about anyone for just about any goods or services we'd care to buy. Very few merchants will refuse cash in exchange for the goods or services they sell. That makes it worth something insofar as being a facilitator of trade. As far as its use as a store of value? Fuggetaboutit! Fiat currency has all the staying power of ice dropped on the sidewalk at noon in August.  |
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Pillar of the Community
United States
3294 Posts |
Besides being able to create shiny baubles, gold really doesn't have all that much intrinsic value in and of itself either. It too has mainly been a facilitator of trade.
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Bedrock of the Community
13014 Posts |
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gold really doesn't have all that much intrinsic value in and of itself either I would disagree with that. Its been used as money and to facilitate trade for thousands of years. Thats good enough to me to say it has established its value. If your measuring stick is usefulness in and of itself then no money has value only, food/water and items that can be used to get food like a gun. |
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Replies: 20 / Views: 2,417 |
Posted 08/31/2012 4:30 pm
