GOLD is it worth it?

This question came to mind after hearing of all the gold miners trapped and how many die each year especially in China & S. Africa.

I mean what does Gold do apart from sitting in a bank vault somewhere.
Its a rare metal ok, and is only used for jewelery, teeth crowns and in some electronic circuitry. There is no major important use for it at all apart from enabling its owner to have loads of money.

When you think about it its rather silly, and sad that people die mining for it. The mines in S.Africa are 4 KM deep, the deepest mines in the world talk about desperation, but. IS it worth it?

You obviously don't realise everyone's money systems are based off of how much Gold they are worth.

That is why coins in the olden days, we're made out of gold. That's also the reason the UK calls them pounds. They used to be a pound of gold.

Gold is a very stable place to invest money...it is essentially the reserve of almost every country in the world and is used a stable back up to avoid massive economic collapse

the reason is gold is highly stable elementally...almost all of the 146,000 tonnes it it ever mined still exists today

the total gold held in central banks is about $3,500,000,000,000 which is about 1% of total global capitalization value

so yes...it's worth it

i wish i had invested in gold back in 2000. up to like $750 an ounce now,

This question came to mind after hearing of all the gold miners trapped and how many die each year especially in China & S. Africa

Gold these days isnt very valuable actually as a country's finacial asset. Its just mined for jewelry and rich crap mostly.

Sadly the US isn't worth her weight in gold anymore.. 🙁

no, gold is only worth the value that people put on it and perceive it to be, but not really worth anything....

It's worth it.

anata wa wakarimasu ka.....

Yep Gold is worth lots of money in a financial sense thats obvious, but what I´m trying to say is that you can´t do much with it. Its worth in a practical way is Null unless some rich folk like shiny metal and give you money for it.

So the worlds economy is build on some shiny metal which is practically useless apart from its beauty. That just shows what a messed up world we live in IMO.

Important things like food or water has little value, except to those who are dieing of starvation I suppose.

Originally posted by Bicnarok
Yep Gold is worth lots of money in a financial sense thats obvious, but what I´m trying to say is that you can´t do much with it. Its worth in a practical way is Null unless some rich folk like shiny metal and give you money for it.

So the worlds economy is build on some shiny metal which is practically useless apart from its beauty. That just shows what a messed up world we live in IMO.

Important things like food or water has little value, except to those who are dieing of starvation I suppose.

gold is a far better conductor than copper in that it doesn't corrode. so its hardy worthless.

anyway, the world market needs a standard. since gold holds the most value and yet is easily storable and lasts pretty much forever, it is the most practical. in fact what you seem to imply is that the world market should be based on consumable items like food, which is ludicrous.

meh this is a silly topic with no point. its terrible that some people in the world are practically slaved in order to mine gold. i hardy see this as the fault of the world market standard, but more the fault of poor/no labor rights and safety regulations in certain countries.

I get what he's saying. Its almost like we are a bunch of cavemen, worshipping the shinny stone. Its all socially accepted anywhere that people want gold, how did that happen? Who knows.

Originally posted by frankenfeltch
I get what he's saying. Its almost like we are a bunch of cavemen, worshipping the shinny stone. Its all socially accepted anywhere that people want gold, how did that happen? Who knows.

then you do not understand world economics as well. its not worship. its the most reliable and practical market standard.

but yes, its pretty and people have liked to wear it for thousands of years. doesnt mean that one caused the other.

Originally posted by Schecter
then you do not understand world economics as well. its not worship. its the most reliable and practical market standard.

but yes, its pretty and people have liked to wear it for thousands of years. doesnt mean that one caused the other.

Yes but the question is, what the hell caused our fascination with it in the first place? Obviously its not a current thing, but it seems like its a trend that has lasted for thousands of years or more. I understand that we can't just print money and say, "Alright this piece of paper is worth this much!" because every currency needs some sort of universal worth to back it up. Its just surprising that universally, gold is still the standard.

Here's another question: Why spend $600 on an iPhone?

This would be a great time to discuss the Federal Reserve Bank of the U.S. which is actually a private instiution

Originally posted by Bicnarok
Yep Gold is worth lots of money in a financial sense thats obvious,

Originally posted by Bicnarok
but what I´m trying to say is that you can´t do much with it. Its worth in a practical way is Null unless some rich folk like shiny metal and give you money for it.

Originally posted by ~Forever*Alone~
no, gold is only worth the value that people put on it and perceive it to be, but not really worth anything....

It is no longer the state of our economy. Our dollar has gone DOWN!!

Originally posted by frankenfeltch
Yes but the question is, what the hell caused our fascination with it in the first place? Obviously its not a current thing, but it seems like its a trend that has lasted for thousands of years or more. I understand that we can't just print money and say, "Alright this piece of paper is worth this much!" because every currency needs some sort of universal worth to back it up. Its just surprising that universally, gold is still the standard.

again you're trying to imply a direct cause. if you feel that gold is a bad standard, then suggest a new one.

Originally posted by frankenfeltch
Here's another question: Why spend $600 on an iPhone?

how is this relevant?

Originally posted by Bicnarok
When you think about it its rather silly, and sad that people die mining for it. The mines in S.Africa are 4 KM deep, the deepest mines in the world talk about desperation, but. IS it worth it?

Not to mention gold is very important in electronics, biological experiements and other scientific applications.

It extends beyond an economic value.

Bells on my fingers and rings on my toes, just doesn't do it for government and all that is owned.

Okay, bad rhyme.