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Old 10-30-2013, 18:01   #301
Jonesee
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Atlas,
If gold is being used in exchange for goods and services, it would not be currency. It would be more accurately defined as a barter item.

It is a commodity, not a currency.

Last edited by Jonesee; 10-30-2013 at 18:06..
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Old 10-30-2013, 18:10   #302
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Quote:
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Atlas,
If gold is being used in exchange for goods and services, it would not be currency. It would be more accurately defined as a barter item.

It is a commodity, not a currency.
I don't argue what gold "is"..
I've made the point in this and other threads that of all substances on earth, none is more definitive than gold.

Expressed differently, it is what it is and needs no further definition.

I'm only curious...
Please cite if you would the definition of "currency" that is the basis of your assertion.

.
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Old 10-30-2013, 18:20   #303
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I misunderstood your question.

Currency is the name used worldwide on the markets.
Money typically refers to what you carry in your pocket.

Currency is used on the macro basis.
Money is typically used on the micro basis.

The exception to this that pops top mind is the terminology used for the speed and flow of funds through the economy. Economists and The Fed uses Money, as a variable in their equations such as M1, M2 etc.
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Old 10-30-2013, 18:22   #304
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Quote:
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It is a commodity, not a currency.
Well, central banks, who print currency, sure seem to love this 'commodity.'

Gold is money.

Paper gold is a commodity. Don't confuse the two. You will soon find out the difference.
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Old 10-30-2013, 18:32   #305
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Originally Posted by Jonesee View Post
I misunderstood your question.

Currency is the name used worldwide on the markets.
Money typically refers to what you carry in your pocket.

Currency is used on the macro basis.
Money is typically used on the micro basis.

The exception to this that pops top mind is the terminology used for the speed and flow of funds through the economy. Economists and The Fed uses Money, as a variable in their equations such as M1, M2 etc.

So your assertion is based solely on semantics?
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Old 10-30-2013, 18:36   #306
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I'm too lazy to research it tonight.

Use of language often shows how knowledgeable someone is on a particular subject.

If I tried to discuss physics with Devildog, it wouldn't take him very long realize I had no in depth knowledge of the subject.

Same with black guns, finishing concrete or the medical field.

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Old 10-30-2013, 18:40   #307
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Quote:
Originally Posted by Jonesee View Post
Currency is the name used worldwide on the markets.
Money typically refers to what you carry in your pocket.

Currency is used on the macro basis.
Money is typically used on the micro basis.
Money is three things:
  1. Unit of account
  2. Medium of exchange
  3. Store of value
Triffin's dilemma is coming home to roost and the store of value function of the world's reserve currency is being exposed for what it's worth, or not worth, as the case may be.

The US dollar is failing as a store of value as it get printed to infinity, so to speak. So, to resolve Trifinn's dilemma, the US dollar will be abandoned, and gold will replace the store of value function for money (new world reserve currency), while national or regional fiat will serve as the units of account and mediums of exchange.

Really pretty simple. What do you not understand now?
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Old 10-30-2013, 18:44   #308
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Andy,

I disagree with your whole premise. Not just any one part of it.

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Old 10-30-2013, 18:44   #309
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Was Kaufman a comedic genius or a self indulgent buffoon?
If gold is $55,000 by 2020, Glocksanity is a genius.

If gold is not, he is a buffoon.

Pretty simple math on that one.
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Old 11-05-2013, 07:19   #310
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If gold is $55,000 by 2020, Glocksanity is a genius.

If gold is not, he is a buffoon.

Pretty simple math on that one.
On January 1st, 2020 I will sell you two ounces of gold for $55,000. That's two for one. Do we have a deal?
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Old 11-05-2013, 08:09   #311
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Any opinion of what form of gold is "best"?

It seems cool to have a variety - but if you are serious about stacking it may be better to standardize.

Coins or bars?

Which coins? AGB, AGE, Maple leafs all seem good

Which bars? 1oz seems like a nice size but the package looks like it would take up a lot of space -

Any mint better than another?


Part of me thinks sticking with AGB and Canadian Maple Leafs is the way to go - but those 1oz bars are a better deal (both buy and sell)



I am also thinking - why not a "straddle" type trade -

Go long physical and short the paper gold ETF?

Seems like a no brainer - almost no risk trade - so it must have a fatal flaw.

Last edited by Z71bill; 11-05-2013 at 08:10..
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Old 11-05-2013, 10:25   #312
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Quote:
Originally Posted by Glocksanity View Post
If gold is $55,000 by 2020, Glocksanity is a genius.

If gold is not, he is a buffoon.

Pretty simple math on that one.
By 2020?

Seven years?

No one will be coming back to this thread to congratulate or condemn in seven years.
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Old 11-05-2013, 12:14   #313
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On January 1st, 2020 I will sell you two ounces of gold for $55,000. That's two for one. Do we have a deal?
Monte Hall says let's make a deal!

Yes!!
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Old 11-05-2013, 12:24   #314
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By 2020?

Seven years?

No one will be coming back to this thread to congratulate or condemn in seven years.
I will.
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