Originally posted by Time-Immemorial
Doesn't matter. Gold and silver will always be worth more then paper.You can do many more things with gold and silver then you can with a dollar.
Well that depends on the amount of gold and the amount of dollars. Currently you can do a lot more with a significant amount of dollars, because it works relatively well as a currency.
Originally posted by Time-Immemorial
Nope. People would buy .5 cent tacos all day. People buy .30 cent donuts all day. So your logic isn't working.Have you ever been clubbing bro?
All the time yo.
Originally posted by StyleTime
If you want to discuss the value of precious metals feel free, but let's not pretend this "experiment" was fair.
Really?
Just so we are not basing this off one source, here are back ups
http://geology.com/minerals/gold/uses-of-gold.shtml
http://www.sbcgold.com/blog/top-6-common-uses-for-gold/
http://www.gold-traders.co.uk/gold-information/what-is-gold-used-for.asp
Originally posted by StyleTime
A 30 cent donut is not a 5 cent taco. Don't see your point here. And still, a dude selling a single donut on the corner would get ignored.All the time yo.
No it wouldn't, people buy what they know to be good deal. If a place is selling taco's for $1 and its Taco Tuesday and its buy one get one free, people would buy them at .50cents.
Denny's serves free food to everyone a few times a year, people storm in there like wild buffalos. Your attempt to discount the idea that because something is cheap, people wont buy it is wrong. Also he didn't even tell them the true value. But anyone with half a brain would know gold and silver is worth more then 99 cents.
Originally posted by Time-Immemorial
No it wouldn't, people buy what they know to be good deal. If a place is selling taco's for $1 and its Taco Tuesday and its buy one get one free, people would buy them at .50cents.Denny's serves free food to everyone a few times a year, people storm in there like wild buffalos. Your attempt to discount the idea that because something is cheap, people wont buy it is wrong.
That wasn't what I said, as all of my posts show. There are multiple factors to consider, all of which contribute to an air of legitimacy that people trust. A dude selling a single, wildly discounted donut/taco/silverbar on the corner doesn't have it.
Originally posted by StyleTime
If you want to discuss the value of precious metals feel free, but let's not pretend this "experiment" was fair.
Originally posted by Bardock42
Oh you mean comparing paper and gold as a resource? Well I think if you go that way you need to compare gold and wood, and wood really wins that one, especially historically. Though I guess US Dollars are actually made from cotton, so that gets a bit murky again.
The dollar has zero use outside of spending it. The idea that gold is no worthless is non sense and anyone who says otherwise is living in the clouds. Gold has always been used to back the dollar until the got rid of it because they did not want to have to yank gold out of the ground to keep there out of control debt spending in check.
Originally posted by StyleTime
Which doesn't intersect with what I said. The scam set up of this video makes people suspect it's not a good deal. An organization's taco promotion, which is also a reasonable discount on a taco(unlike the the 10$ silver bar, which is absurd by the video creator's own admission), is not the same.That wasn't what I said, as all of my posts show. There are multiple factors to consider, all of which contribute to an air of legitimacy that people trust. A dude selling a single, wildly discounted donut/taco/silverbar on the corner doesn't have it.
So 99 cents, and people are getting scammed for a bar of silver thats worth $160. He could of offered it at 50 cents and still people would not have bought it. The video was not a scam anymore then what Jay Leno did with JayWalking. And the caviat is, he said we can take it into this store right here and get it checked out. So how you gonna disprove that? I think you were one of those people in the video now.
Originally posted by Time-Immemorial
The dollar has zero use outside of spending it. The idea that gold is no worthless is non sense and anyone who says otherwise is living in the clouds. Gold has always been used to back the dollar until the got rid of it because they did not want to have to yank gold out of the ground to keep there out of control debt spending in check.
That's not true, you can wipe things with the dollar. Or you can wrap them. You can fold it to create art. You can even write on it in a pinch. Lots of uses. You are really unkind to the dollar.
Here style,
He is giving out free coins if someone can just guess within 50% of its value. This is how removed people are from what gold is worth.
He even started just offering them for free, without having to answer questions, people refused to take them!!
How much more proof do you need, people have no idea about anything.
Originally posted by Time-Immemorial
So 99 cents, and people are getting scammed for a bar of silver thats worth $160. He could of offered it at 50 cents and still people would not have bought it. The video was not a scam anymore then what Jay Leno did with JayWalking.And the caviat is, he said we can take it into this store right here and get it checked out. So how you gonna disprove that? I think you were one of those people in the video now.
As to the store verifying it, I'll direct you back to dadudemon. He already covered everything quite nicely truth be told. I'm here because of boredom.
Originally posted by dadudemon
He could be part of that shop, partaking in a scam with that shop. Even if they went into that shop to verify that the metal was pure, the shop could be in on the scam.
Edit: I'll look at the other video later.
Originally posted by StyleTime
They have no way to verify what looks like a scam, so they leave, and rightfully so. I didn't say it was a scam, but it looks that to anyone in that situation.As to the store veryfing it, I'll direct you back to dadudemon. He already covered everything quite nicely truth be told. I'm here because of boredom.
Ok in the video about, he was trying to just give the old away for free and they would not take it. Lol
So your here to disagree. Gotcha.
Originally posted by dadudemon
I think the problem with your post is that you state that gold is just as worthless as paper money and then state an exact reason why it is not worthless at all, and, in fact, has an extremely high utilitarian value (electronics).This is part of why rare earth metals are so valuable.
But, if we are to wax philosophical with our economics, any value placed on anything is arbitrary and artificial because they are all human constructs.
As far as which is more valuable to humans from a pragmatic sense? Both have reasons for being more valuable.
Yes people saying rare metals are worthless now is quite interesting. Funny thing too. You can buy a $10,000 of gold today and it will most likely hold its value very well but if you buy a $10,000 diamond and try and sell it, it worth like $2,000. Diamonds are not even on the exchange or publicly traded either, yet people will spend tons of money on those.
Hell you can buy a new car, and the same thing happens. So really everything else is worthless compared to gold and silver.
The thing Mark was trying to prove in the video was how shallow this generation has become, valuing gratification over actual worth. It was a social experiment that showed the flaws of American society, their lack of knowledge of the actual worth of precious metals.
It would only take a minute or two with a careful eye to see if the gold he was selling was real or not (unless you have no interest in gold whatsover, which I assume most of these civilians did.)
Originally posted by Lestov16
Goods, resources, property, and services themselves are what hold intrinsic value. All forms of currency, both metal and paper are just worthless abstractions. If the world was barren and there was no food to buy, your gold/paper won't mean shit
People will always use some sort of currency to exchange and buy things. This isn't really about the world ending. Its the simple fact that people are removed from the idea what gold and silver are worth, that they can be used as real money and its legal tender in the US.
Originally posted by AsbestosFlaygon
The thing Mark was trying to prove in the video was how shallow this generation has become, valuing gratification over actual worth. It was a social experiment that showed the flaws of American society, their lack of knowledge of the actual worth of precious metals.It would only take a minute or two with a careful eye to see if the gold he was selling was real or not (unless you have no interest in gold whatsover, which I assume most of these civilians did.)
Bingo
Originally posted by Newjak
I'm trying to figure out the point of this thread Time?Are you trying to mock people for not taking the gold?
Are you trying to make some offhand critique of why we are not on the gold standard anymore?
Are you trying to say people need to/should know what the gold exchange rate is?
?