See my #42.
Posted on 11/13/2009 6:45:21 AM PST by SeekAndFind
“Where does one just store bars of gold though?”
Lost-wax cast the gold into the stature of a bird, and paint it black, then hide it in plain sight.
The fallacy in the equation is making Gold equal to a fixed amount of Currency, instead of the Currency equal to an amount of Gold. Had the latter been set, then the value of the currency would track with the Gold price - but then the banksters couldn't steal with their fiat money games.
See my #42.
Look at the rigidity modulus. Tungsten is much stiffer than gold and will ring like a bell if you tap it. I have a W block and it practically sings. My gold bar...well I don’t have one.
Bulk Modulus W 311, Au 171
Rigidity W 160, Au 26
Young’s W 411, Au 79
They are pretty different thermally, too. Au is three times more thermally conductive and will feel chillier longer if you hold it. This is why wood feels warmer than aluminum even when they are the same temperature.
I didn't think people were supposed to know about that. It was found by AA analysis, and I had heard about it in the '80's, working in that field, but never heard anything about it again. Weren't they Maple Leafs?
Having $20 always equal to one oz. of Gold doesn't mean we have stable prices. Money's needed for wages, for rent, and for food, and it's those prices that matter.
In terms of wages, rent, and food we got a price of gold that jumps all over the place from one month to the next and always being able to buy gold at the same price is irrelevant.
Without mentioning home safes, consider that people have been burying it safely in the ground for centuries, if not millenia. Look at all the hoards that have been discovered this year alone. Nobody stole it, the Governments did not sieze it, till centuries after the owners had been worm food.
Well, if an ounce of gold is $1000 then $1000 is an ounce of gold. So much for your fallacy.
Adjusting for inflation shows how much of everything else an oz. of gold can be traded for.
Thanks for the additional information.
I did know a guy who bought a historic home, and when doing remodeling found over $80,000 in 1920’s/1930’s currency stashed in a burlap sack in between two walls. I’m sure the same could happen with gold.
I was rather surprised this morning to hear
Dave Ramsey
in a statement against physical gold,
say that we’ll be trading in ammo before we’re trading in gold.
Love your tagline.
The ‘value’ of Gold hasn’t changed much, the same amount of Gold today will get you a car as it did 100 years ago - “The standard Ford 4-seat open tourer of 1909 cost $850 (equivalent to $20,091 today).” http://en.wikipedia.org/wiki/Ford_Model_T#Price
Had the Dollar been pegged to the value of Gold any rise in the world markets would boost the value of the Dollar, not decreased it.
From Goldprice.org:
You can test the purity of gold yourself with the right test equipment. Mostly this consists of acids which you can purchase for that purpose although electronic testing is now becoming popular and electronic testers can be found with a little investigation and research and purchased. The cost of the test equipment means that you would want to test a lot of gold to warrant the cost of the equipment and along with the other factors such as safety measures, time involved etc, you would likely be better off just getting an independent jeweler or laboratory or even a Mint to test the gold for you.
In 1980, 20 oz of gold would buy you a $16,000 car. In 1999, a $5,500 car and today a $22,000 car. You don't think there is a big difference between those 3 cars?
Had the Dollar been pegged to the value of Gold any rise in the world markets would boost the value of the Dollar, not decreased it.
Do you think a dollar worth 4 times what it was in 1999 would be a good thing?
Are you going to dissolve the entire bar?
Seriously, we all know that a standard 2009 Ford is a lot more comfortable and reliable than a standard 1909 Ford. Not only that, today's oz. of gold can buy a lot more food, clothing and shelter than a 1909 oz of gold bought.
Finally, since 1909 we've seen gold's buying power fall by more than half and soar over three fold. Let's face it, precious metal prices are all over the place.
What's so hard about measuring density? A typical high school chem lab balance can tell us purity to one part in a thousand for the whole bar, and it's non-destructive.
How accurately can you measure the volume of a bar (or coin)?
Carroll Co. ,, Eldersburg and you ??
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.