Bangkoktraveler Posted March 20, 2011 Report Share Posted March 20, 2011 ...and how much has paper money been worth in tough times...NOTHING!There are many pictures of people burning paper money to stay warm' date=' as it was cheaper to burn the money then to burn fuel! For thousands of years, gold and silver has been used for trading and has been stable, way more stable then paper money has ever been. 1970, use your US dollars to buy one ounce of gold, at say $38/ounce...today, what can you buy with that one ounce of gold, $1400 worth and your $38, even if you had it in a bank account getting compound interest, buying power is squat and that $38 didn't increase all that much compared to gold.[/quote'] You all need a course in economics. When you look at our government's debt load and then look at the debt load of Germany for the year 1920, in many ways they look almost ideal. Germany tried getting out of the debt burden by printing more money and it became a diaster for the country. At times, it looks like the USA might be going down that same trail. . Cavanami might be spot on! Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted March 20, 2011 Author Report Share Posted March 20, 2011 HH Link to comment Share on other sites More sharing options...
cavanami Posted March 20, 2011 Report Share Posted March 20, 2011 During the Great Depression, what was a dollar worth, what would a dollar buy and then compare that to silver. Silver would buy more goods then paper money, thus my take on gold/silver being a commodity to be had in times of crisis, not paper money...IMO. In times of crisis the vendors readily take gold/silver over paper money. When you and your family is starving do you want to be holding paper money or gold/silver? I will go with holding the gold/silver. Link to comment Share on other sites More sharing options...
unit731 Posted March 20, 2011 Report Share Posted March 20, 2011 There is a beginning to all of this. PcLhoq0xzRk Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted March 20, 2011 Author Report Share Posted March 20, 2011 Good Lord man ! You're one of those guys that continues to rant on about GWB ! Bugliosi may be on a crusade, but I don't think his efforts will be rewarded (in terms of seeing GWB prosecuted or making big bucks on his book). In case you overlooked the subject of this posting, it is about Cent's "Big Zero". HH Link to comment Share on other sites More sharing options...
LizardKing Posted March 21, 2011 Report Share Posted March 21, 2011 ...and how much has paper money been worth in tough times...NOTHING!There are many pictures of people burning paper money to stay warm' date=' as it was cheaper to burn the money then to burn fuel! For thousands of years, gold and silver has been used for trading and has been stable, way more stable then paper money has ever been. 1970, use your US dollars to buy one ounce of gold, at say $38/ounce...today, what can you buy with that one ounce of gold, $1400 worth and your $38, even if you had it in a bank account getting compound interest, buying power is squat and that $38 didn't increase all that much compared to gold.[/quote'] You all need a course in economics. FFS, you are sooooo correct. Next you know, the tinfoil hat wearers will be recommending tulip bulbs as an inflation hedge! Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 21, 2011 Report Share Posted March 21, 2011 During the Great Depression, what was a dollar worth, what would a dollar buy and then compare that to silver.Silver would buy more goods then paper money, thus my take on gold/silver being a commodity to be had in times of crisis, not paper money...IMO. In times of crisis the vendors readily take gold/silver over paper money. When you and your family is starving do you want to be holding paper money or gold/silver? I will go with holding the gold/silver. During the Great Depression, an ounce of silver got you 25 cents. In 1881 an ounce of silver was worth a little over $1.00. During the Civil War, if my memory serves me right, an ounce of silver was worth about $2.50. A lot of factors are involved trying to figure out what silver will bring. Even those that were involved in the mining business didn't seem to be able to predict if silver was going to go up or down. As for gold, the government has regulated a lot over the years. Back in 1881 an ounce of regulated gold got you about $18.45. Link to comment Share on other sites More sharing options...
unit731 Posted March 21, 2011 Report Share Posted March 21, 2011 Good Lord man ! You're one of those guys that continues to rant on about GWB ! HH Yes, yes, and yes. Every social and financial problem today is directly related to GW and the policies of GW. Link to comment Share on other sites More sharing options...
Hugh_Hoy Posted March 21, 2011 Author Report Share Posted March 21, 2011 HH Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted March 21, 2011 Report Share Posted March 21, 2011 HH loves GWB especially when he was a cheerleader. Link to comment Share on other sites More sharing options...
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