Argentina Tops List Of 20 Signs Of Global Economic Meltdown

[Jaredberryman]

Reneige, thanks for the interesting comments.

 

[scotttswan]

You start by saying you have lost patience reading past posts. Who cares? Then you go on to repeat basic economics with a pro fed propaganda slant. And you finish off by saying you can't blame people for having a different opinion than you, but they are all a bunch of conspiracy theorists, simpletons, less educated than you and fools. Really?

And the kicker is, you sign off by saying you make a living selling many of those financial products, investment vehicles, that are ruining the economy. And you fail to mention, if any of that is actually true, you are making quite a profit with QE at the tax payers expense.

This is highschool level stuff. You seriously spent an hour writing this thinking it would be enlightening much less truthful? You describe fractional banking as marginal banking and think it makes a difference? Did you explain the actual ratio at which banks are allowed to create money out of thin air for free and then charge tax payers interest on that invisible money? I won't even go on, I'd have to spend another hour deconstructing this. I'll make it easy on myself. The Fed and debt for dummy. Enjoy.

i too get all my information on the fed from online-accounting-degrees.com .net

 

[Reneige]

Exam over and I'm still a forum troll apparently :-D.

I just wanted to make one last statement about gold. I've stated my opinion on the commodity. The vast majority of gold stored in vaults and locked away, because there next to no useful application for the metal, aside from jewelry, dental fillings and a few industrial applications as a conductor. Unlike steel or uruanium or aluminum, there really is no need for it. The tragedy is that the persistent and easily debatable notion of gold as a store of wealth or investment, means that the value remains high and it is stilled mined wherever possible.

Gold rarely exists in large solid form, it is usually is found in trace quantities rock/soil. The process of mining gold involves digging massive amounts of earth and treating it with a chemical process that eventually results in the separation of the gold from the other matter, which is sent in granular a foundry to be solidified and then stored in a vault somewhere in solid brick. It's value is then traded in the form of financial contracts with the gold as the underlying asset. This environmentally destructive process serves absolutely no value to mankind. As far as I am concerned, it really highlights the extent to which mankind allows a pervasive and groundless belief to inflict harm without any gains, except perhaps to those who are invested in the commodity. Like blood diamonds, gold is a pretty ugly commodity.

Refer to paragraph 2 for a brief description of the process : http://www.economist.com/node/3627092

 

[ajoknoblauch]

Its not that easy. Getting gold is always something complicated, you need some invest to do before. Its not like a metal detector and 'voila'. Thats the trick with gold, and why it values so much. You need men working to get it. You need time to find it. You need machinery.

As for Marx, I dont believe his theories are wrong. Me and a lot of people I know still believe in him, like most of the left worldwide does, he was a brilliant economist. He maybe was wrong politically, with communism and all that, but from an economic point of view he is still an object of study. Das Kapital is an enormous work and lots of laws he said happen in a capitalist system. I strongly reccommend you to study it.

Marx was a great analyst, and a very poor theorist.

 

[John.St]

Its not that easy. Getting gold is always something complicated, you need some invest to do before. Its not like a metal detector and 'voila'. Thats the trick with gold, and why it values so much. You need men working to get it. You need time to find it. You need machinery.

As for Marx, I dont believe his theories are wrong. Me and a lot of people I know still believe in him, like most of the left worldwide does, he was a brilliant economist. He maybe was wrong politically, with communism and all that, but from an economic point of view he is still an object of study. Das Kapital is an enormous work and lots of laws he said happen in a capitalist system. I strongly reccommend you to study it.

Karl Marx's foundered theories were part of the curriculum when I studied national economics.

Even though I have provided an example of 156 oz. gold nugget

found by a lucky guy with a metal detector, you blabber on about investment and men working their souls out. The spread is huge. Besides, this has no influence on gold's intrinsic value.

Edit:

I think you have a problem understanding the exp<b></b>ression "intrinsic value".

What is the intrinsic value of one cubic centimeter of common dirt? should we say one centavo?

If 600 men spend four years digging a huge hole from which they extract exactly one cubic centimeter of common dirt, what is then the value of this one cubic centimeter of common dirt?

 

[Matiasba]

Karl Marx's foundered theories were part of the curriculum when I studied national economics.

Even though I have provided an example of 156 oz. gold nugget

found by a lucky guy with a metal detector, you blabber on about investment and men working their soul out. The spread is huge. Besides this has no influence on gold's intrinsic value.

Because one person found gold with a metal detector in his yard or wherever, doesnt mean that that is the way todays societies found and work with gold. It is a complex issue to find gold and extract it, as I said, you need people, time and machinery. That is exactly the cause of the value of the gold: the resources you need to get it, the time, the people, the money. Theres no rocket science here.

 

[ajoknoblauch]

Karl Marx's foundered theories were part of the curriculum when I studied national economics.

Even though I have provided an example of 156 oz. gold nugget

found by a lucky guy with a metal detector, you blabber on about investment and men working their souls out. The spread is huge. Besides, this has no influence on gold's intrinsic value.

Edit:

I think you have a problem understanding the exp<b></b>ression "intrinsic value".

What is the intrinsic value of one cubic centimeter of common dirt? should we say one centavo?

If 600 men spend four years digging a huge hole from which they extract exactly one cubic centimeter of common dirt, what is then the value of this one cubic centimeter of common dirt?

There is no such thing as "common dirt," but a gram of fertile soil is infinitely more valuable than any amount of gold.

 

[scotttswan]

Because one person found gold with a metal detector in his yard or wherever, doesnt mean that that is the way todays societies found and work with gold. It is a complex issue to find gold and extract it, as I said, you need people, time and machinery. That is exactly the cause of the value of the gold: the resources you need to get it, the time, the people, the money. Theres no rocket science here.

Idiots are spending millions on "mining" bitcoins by having computers waste lots of electricity on arbitrary integer calculations. Does that mean bitcoins have a value? :lol:

 

[Matiasba]

How I hate when my posts go for moderation. Frustrating.

 

[Caliexpat]

As bigbad mentioned previously, the objective for investors and savers to is preserve one's purchasing power as much as possible when govts. act irresponsibly. As all fiat currencies are being debased through over printing, precious metals are the only form of money that can't be printed.

Some argue gold has intrinsic value, others say it doesn't. In the end, it doesn't really matter. As long as it's an agreed upon form of money, that's all that matters; and it's been this way for 5000 years. Salt used to be a form of money, so were sea shells. The key is who/what gets to control or manipulate the quantity.

It's all about timing. I can selectively choose or isolate statistics during a certain time period to show that any asset class is a risky investment, be it stocks, bonds, real estate, currencies, precious metals, commodities etc. Now, just happens to be gold's time. In 10 years it could be something else.

And don't let the value of gold as measured in USD be any indication of its true value. All you need to do is observe the intense gold buying of China, Russia and many other central banks worldwide. Gold bullion sales are at record highs right now with investors taking advantage of the discounted prices. The US and Austrian mint are working overtime and can't produce enough gold to meet the demand.

Of course, you'll never hear any of this from the mainstream press, whose job it is to muddy the waters and keep its viewers misinformed in order to keep the global ponzi scheme economy going.