Reply to: Gold

[Paddy]

You can get gold injections for arthritis.

Gold is an inert element. It does nothing.

Never understood the fascination with gold as an investment - it pays no income, it costs money to hold it and it has no real value other than peoples perception.

I would rather invest in companies that do something that turns a profit etc.

Mind you I could see an advantage if the British public are stupid to vote in labour again, one way of keeping your cash from the grabbing hands of Ed Balls.

Gold and silver are the only true money.

True money must have a limited supply in order for it to work.

Paper money was based on Gold but since the removal of the gold standard, paper money is not true money because there are no limits to the amount printed.

Each country will try a cheat by printing more money. If one or two do it, it leads to devaluation. If the whole world does it; it leads to global inflation and fraud.

Each time there is quantitive easing; the banks gain free money but the value of your money drops. You will see the affect of this in rising food and oil prices.

The USA dollar is not based on gold but based on oil. Hence the term petro-dollar.

The USA has sold most of its gold and sold most gold that it was keeping safe for other countries. Instead it holds paper gold. They just hop that not many contries ask for it back like France did.

[Doggy Styles]

It literally is worth its weight in gold

By the way, the first footballer whose transfer fee was more than the value of his own weight in gold (at the time) was purported to be Malcolm MacDonald.

At today's gold price that's any player who costs over £2.7 million quid.

[BoredBloke]

On the contrary, gold is widely used and very valuable in the electronics industry.

IIRC it is also used in medicine.

It literally is worth its weight in gold

[mudskipper]

You can get gold injections for arthritis.

[MyUserName]

You're thinking of Goldschlager, it's a spirit and is Swiss, but it's true, there's tiny amounts of gold in it.

That's the one!

[Robinho]

And I think that there is a German beer that uses it - although this might be bollucs

You're thinking of Goldschlager, it's a spirit and is Swiss, but it's true, there's tiny amounts of gold in it.

[MyUserName]

And I think that there is a German beer that uses it - although this might be bollucs

[Doggy Styles]

Never understood the fascination with gold as an investment - it pays no income, it costs money to hold it and it has no real value other than peoples perception.

On the contrary, gold is widely used and very valuable in the electronics industry.

IIRC it is also used in medicine.

[d000hg]

Gold is widely used outside of jewellery so it does have a real value. Though how low that value would be if it was the only use...

[KentPhilip]

Never understood the fascination with gold as an investment - it pays no income, it costs money to hold it and it has no real value other than peoples perception.

+1
But people have been perceiving it as being valuable for the past 5000 years. So they are rather likely to carry on thinking it so.

[Waldorf]

Never understood the fascination with gold as an investment - it pays no income, it costs money to hold it and it has no real value other than peoples perception.

I would rather invest in companies that do something that turns a profit etc.

Mind you I could see an advantage if the British public are stupid to vote in labour again, one way of keeping your cash from the grabbing hands of Ed Balls.

[DaveB]

have they learnt nothing over the last 4 years?!

You're funny

[AtW]

How the &%£^ is stuff like this allowed to happen? How can they open paper positions for twice the permitted amount of physical available? have they learnt nothing over the last 4 years?!

I agree.

It's gross incompetence that is.

How the **** they only opened twice as much positions? They'd make FAR more money if they oversold it 10 or 20 times at least.

Sack them bankers I say.

[NickFitz]

How the &%£^ is stuff like this allowed to happen? How can they open paper positions for twice the permitted amount of physical available? have they learnt nothing over the last 4 years?!

Too big to fail, old boy. They can do whatever they damn well please and they know it

[mos]

How the &%£^ is stuff like this allowed to happen? How can they open paper positions for twice the permitted amount of physical available? have they learnt nothing over the last 4 years?!