What Is Gold Really Worth?

You simply do not understand money, or its uses. When did you take your fiat money and go to a car dealership. Most people write a check--a claim on their fiat money. Gold is used in the same way. Under a gold standard, one has dollars based upon gold. One writes a check on those gold based dollars. It works the same. The difference is that your fiat money has lost 97.5% of its value since the 1960s, in relation to your gold money.

Neither gold nor fiat money is an investment--not in their primary usage. What they are--what they function as--are mediums for exchanging present labor, goods, or services for other goods or services, present or future. Where one spends money immediately--whether gold or fiat--there is no loss in holding fiat money, except in hyper inflation--not here yet. But for deferred usage, fiat money is a total disaster, when compared to gold.

The wealth of America was never created by damn fools who rushed to spend everything they could immediately. What fiat money is doing is destroying the very basis of American Capitalism, the ability to save & build nest eggs for future investment; and to pass on to future generations.

See Medium Of Exchange.

Gold has been proven as the best medium of exchange, through all of human history. Fiat money has never held its value for long in any land, anywhere on earth. It very temporary acceptability has always been a spur to corrupt practices--even as it is in America today, where it enables political scoundrels, like Obama, Pelosi & Reid, to buy the votes of the susceptible among us by corrupt & unconstitutional subsidies for poor conduct.

William Flax

You may well be right. But if there is a QE3, we are probably headed for a Weimar event. As it is, I fear that we are going to have to accept a period of austerity to climb out of the pit that Bernanke & the Obama Administration have dug for us.

Those who offer temporary "feel good" palliatives in place of American solvency will never solve any problem, beyond keeping themselves temporarily in power. Their historic significance will be to teach other generations in many lands, lessons that the intelligent among us have already learned from the history of other peoples.

Cheers--if you can still stomach cheerfulness.

William Flax

“You simply do not understand money, or its uses.”

I understand you can buy gold with it. The price of gold is set by the market.

I’ll make this proposal......Go to a gold dealer, of your choice, buy one ounce of gold, then go to another dealer, and sell it. Watch what happens.....IT’S A SCAM!!!!! If you do this enough times, you will be flat broke.....lol

Then go to any bank, change $100 bill into one dollar bills. Go to another bank and exchange the ones for a hundred dollar bill.

“You basically can’t. It takes over 70 times as much fiat money to buy it, as formerly. It takes over 40 times as much as it did in the 1960s.”

So, if you had a pound of gold since the 60’s, it is worth now exactly what you paid for it back then.

Less COMISSIONS.

Yep, its a SCAM.

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