do you know how risky it is not to invest?

[bakuten]

Just look back to history. The Romans used gold coin. Later no more gold loot and they impregnated their gold coins with cheaper metals. The Brits once said that the pound is based gold standard. But people asked for gold and the was not enough gold. If it's such a good standard it would have lasted till today.

U just answered the question.
Both empires prospered on gold standard. Until they debased their money...and then their empires collapsed. See the link? Haha.

 

[peterchan75]

U just answered the question.
Both empires prospered on gold standard. Until they debased their money...and then their empires collapsed. See the link? Haha.

A dynasty or empire will last forever if they stick to gold standard ?
The very moment people sensed the Euros was in trouble, it drove up Swiss Franc. That sent the Swiss pegging. Lord Buddha.. nothing is absolute.
Which reputable country would say the currency is now based on gold standard ?

 

[bakuten]

A dynasty or empire will last forever if they stick to gold standard ?
The very moment people sensed the Euros was in trouble, it drove up Swiss Franc. That sent the Swiss pegging. Lord Buddha.. nothing is absolute.
Which reputable country would say the currency is now based on gold standard ?

Nobody knows... but history has shown...gold standard brings prosperity to an empire....then empire govt elites become arrogant with public works and wars...in order to fund such things... they debase their currency...which finally led to the collapse of their empire. And the cycle repeats itself again and again.

So far in history...no big govts have been able to resist the temptations of deficit spending.

If There is one thing history has shown, is that fiat money has always failed.

 

[bakuten]

USA grew powerful under their bimetallic system from 1800s-1900s.

After ww2, the world adopted the bretton woods system. Pseudo gold standard

In 1960s, USA debased the usd in order to fund the Vietnam war. This scam was exposed by Charles de gaulle and sparked a gold run on the US.

1971 Nixon stopped gold convertibility and kick started the fiat system we are on today.

Today we may just have the great chance to witness the collapse of a monetary system and the creation of a new monetary system

 

[peterchan75]

The Incas had gold & silver. The conquistadors took away with relative ease. When fiat collasps, you need an army to protect your gold.

Some countries with significant gold reserve use army to guard the gold even in peace time. Why ? Once gold or silver is looted, it just melted away.

 

[bakuten]

The Incas had gold & silver. The conquistadors took away with relative ease. When fiat collasps, you need an army to protect your gold.

That one bobian lar....sticks and stones vs guns n swords lol. Technology gap was just too huge.

Plus Incas didn't value their gold n silver much due to its abundance in south America.

In fact after the Spanish robbed the incans, the massive amount of silver poured into the european economy causing massive inflation in the western world which created economic problems back then.

 

[peterchan75]

That one bobian lar....sticks and stones vs guns n swords lol. Technology gap was just too huge.

Plus Incas didn't value their gold n silver much due to its abundance in south America.

In fact after the Spanish robbed the incans, the massive amount of silver poured into the european economy causing massive inflation in the western world which created economic problems back then.

Or... gold and silver also cause inflation. Noted.

 

[bakuten]

Or... gold and silver also cause inflation. Noted.

Supply and demand ma...if one day somebody find a way to turn turd into gold using less than $1....gold will become worthless also...

Or if someone invents unlimited energy...then everything will become worthless eventually.
Coz slowly robotics will take over mining/manufacturing/farming....den humans only need to work maybe 1-2 days a week...just to maintain these machines.

This whole world is run by energy. Rare commodities like gold basically represents stored economic energy. And if energy is unlimited, money will become redundant eventually

 

[Mecisteus]

Supply and demand ma...if one day somebody find a way to turn turd into gold using less than $1....gold will become worthless also...

Or if someone invents unlimited energy...then everything will become worthless eventually.
Coz slowly robotics will take over mining/manufacturing/farming....den humans only need to work maybe 1-2 days a week...just to maintain these machines.

This whole world is run by energy. Rare commodities like gold basically represents stored economic energy. And if energy is unlimited, money will become redundant eventually

i can see you are very good with your theories. how much do you really invest in gold or precious metals?

dont be like bitcoin. talk only.

 

[peterchan75]

As far as investment is concerned, one never ever hold steadfast to a belief becuase the market is always right. One could be wrong and must realise it quickly and move with the market.

 

[bakuten]

i can see you are very good with your theories. how much do you really invest in gold or precious metals?

dont be like bitcoin. talk only.

Haha no worries...if its PM...I walk the talk.
70% into pm related stuffs.
60% of the 70% into physical metals itself.
25% of the 60% into gold and the rest silver.

Currently my gold:silver ratio is 1:2...need to increase my silver holdings to 1:3 in dollars of coz...not in ounces.

Lol bitcoin I got 0.05 liao...

 

[bakuten]

As far as investment is concerned, one never ever hold steadfast to a belief becuase the market is always right. One could be wrong and must realise it quickly and move with the market.

Agreed. I would like to add that it is also impt not to be blinded by short term gains as crashes always happen when everything is "growing"