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 Replies: 12 / Views: 3,240 |
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New Member
Sweden
4 Posts |
Edited by Yopsi75
07/06/2013 06:42 am
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Pillar of the Community
United Kingdom
1682 Posts |
I am not really sure how central banks would make the journey from their current policies of quantitative easing. For too many years, precious metals have served as investment and industrial commodities.
Doesn't stuff like this come out each time precious metals are in bear market by those who have lost or are losing money?
Also seems to me that governments don't want folks getting precious metals at face value but would prefer that folks buy more expensive items from their mints.
Ken
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New Member
 Sweden
4 Posts |
I don´t think governments have a choice. Boj lost control over bonds and Fed just lost it to.
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Moderator
 Australia
16806 Posts |
There is a key reason why precious metals no longer back world currencies: availability. The Earth's population is still increasing exponentially. The mining rates for precious metals have linear growth, at best. There simply isn't enough metal to go around any more. We'll run out of metal long before we run out of room for more people, so this trend can be expected to continue.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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New Member
Sweden
4 Posts |
What we have called growth correlates very well with population growth and for example oil consumption. The economies can´t grow like they used to so a a new system must replace the old one to avoid trouble.
Edited by Yopsi75
07/06/2013 08:19 am
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Pillar of the Community
United Kingdom
616 Posts |
There is less than 1 oz. of gold per person on the planet. It is not practical as a day to day currency.
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Valued Member
Canada
258 Posts |
I doubt that this is true. The Government of Canada is doing its best to get all silver currency out of circulation by forcing banks to sell silver coins to the mint for face value.
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Pillar of the Community
United States
3789 Posts |
one word describes this article: FALSE. Looks to me like someone is trying desperately to drum up interest in gold and silver as prices decline. Look, if the US long bond, the ultimate safe haven in the world is dying and has been for months now, gold and silver are toast going forward. The USD continues to rise. Another fallacy is how they start out the article talking about BRICS,,, to which I do a big  The BRIC thing is a THING of the past now and all those countries are struggling and are weak. So yea, sham article clearly to keep the ever faithful gold and silver bugs "hopeful" of a change that will benefit them. |
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New Member
Sweden
4 Posts |
You probably assume politicians will sit and watch while the house of cards implode.
Can´t see there is a way out of this mess using the old thinking.
Edited by Yopsi75
07/06/2013 11:12 am
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Pillar of the Community
United Kingdom
616 Posts |
Hmmm. Tying currencies to PMs and using PMs for currency is new thinking. Interesting.
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Valued Member
United States
106 Posts |
Gold and silver is used to barter with everyday, some would rather be paid in metals then dollars so it wouldn't be much of a difference, it would simply allow competition. Although I doubt the Federal Reserve and other world banks would like that very much so I doubt it would happen.
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Bedrock of the Community
13014 Posts |
Yea theres no truth to this. Like Sap said availability is one reason we will NEVER see PMs as every day currency.
Another reason is to do so youd have to either put so little into currency that no one would care or revalue PMs and the amount of wealth that would be lost doing that would be billions if not more.
Were also not on the brink of collapse. A PM currency would be the last thing you would want on the brink of collapse anyway, you lose a lot of wiggle room with those or ways to buy yourself time.
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Pillar of the Community
United States
1454 Posts |
Kena already stated very succinctly what this article was about. Someone's losing money with PMs getting killed and decided to go back to an old stand-by. Make up pretend news full of pretend secret sources to scare easily startled conspiracy theorists into buying their product. I didn't even have to read the link to guess the content. You're new here, Yopsi, so I have to ask: which camp would you fall under? Are you the source of the fallacy or just an unpaid messenger?
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Replies: 12 / Views: 3,240 |
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Posted 07/06/2013 07:47 am
