Gold

Redpill me on gold

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You make Glenn Beck hard

It's a metal that wasn't easily found, had to be mined, smelted and purified for trade which made a great scarce resource to use as a bartering tool. It also used in many production processes so that its value goes beyond just currency.

>china and switzerland are lying, actual holdings are astronomical

literally everybody is lying about their holdings though, part of the game.

It has a nice shine that I'm in love with.

The Gold Commission confirmed that there is no gold at Ft. Knox.

It's a precious metal with the following qualities
-Rare
-Pretty
-Easily smelted/manipulated
-Does not rust
-Has many useful material proterties which make is useful beyond just looking nice

This makes it a pretty useful as a currency in rudimentary economies because although the price of gold fluctuates, it has a variety of applications which keeps it very desirable and therefore valuable.
Contrary to what people say though it stops being useful as a currency in advanced economies lie our own because the currency in circulation and therefore the size of the economy is directly tied to the ammount of gold which is available, which is alright it the economy grows at about the rate at which gold is extracted from the ground, but things get problematic when the economy booms and runs out of money to expand simply because there is not enough gold to go around. In the other direction things can also be disastrous if a monstrous gold-deposit is discovered, the market is threatened to be flooded with gold and the inherent value of gold drastically decreased, as happened in Spain when the economy crashed after a giant influx of silver from South America, at which point you would have to rely on corporations to artificially restrict or inflate to ammount of gold in circulation, pretty much the people bitch about the federal reserve simply printing money as they see fit.

Source notable by its absence.

Jews own it all

>it stops being useful as a currency in advanced economies
So, there were no advanced economies prior to 1931 or even 1971?

Not when you start trading all over the world via the internet.

Like I said, tying the economy to gold for the sake of preventing inflation (which is what anyone who harps on about the gold-standard really cares about) means that we have to extract it from the ground about as quickly as the economy grows.
One this gets out of sink we have to start relying on governments to add/extract gold from the economy for the sake of stable values, at which point the value of gold becomes artificial and pretty much dictated by the government which sure as fuck is not going to be particularly transparent about how much gold it is hoarding, what the "real" value is, and if it has been running any secret scams by trying to manipulate prices
So we might as well just skip the entire part with the gold and just use currencies with "artificial" values not backed by anything the way we are doing right now, in which case inflation does not even really matter because as long as you don't hoard cash for decades at a time and adjust for inflation periodically you don't have to care what your grandad could buy for 10 dollars back in the day because he was also paid fewer dollars.

Keynes pls leave

don't bother we have bitcoin now

gold silver are the only real currencies. banknotes are paper which are decided to have values by people.

It's a meme. In a hundred years, it'll be worthless as we have a 100 trillion dollars worth of gold in near earth asteroids, that'll be mined within our lifetimes.

>Governments can manipulate their gold holdings so fuck it lets just create currency from nothing

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bitcoin is useless. it has value because people thinks it has values.
only physical things which are not found in bulk have values like gold silver.

>2nd place

N I C E
I
C
E

if gold is not worth it why do every rich country and multinational organization hold so much of it?

I think Russia and china have more gold than that. They have been buying like crazy.

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How does that benefit you in the game?

Why do people want currence to be backed up by gold? Gold's value is no more tangent than the dollar's. If people decided to not give a shit about gold or the dollar they would both be worthless.

>it sure was worth it pulling all of those teeth during the holocaust wasn't it you filthy goyim?
>oy vey return our ancestor's dentures to their homeland to be buried
>or at least pay for them at a fair market price ehehehe

Because only volume can move a market and currency speculation is a zero-sum game.

>The UK has as much gold as Kazakhstan

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It is shiny and people want it.

Also it's like a 4th or 5th level resource, used in high end electronics due to its anti corrosion properties.

I understand how it's a zero sum game and that only a large volume can affect the market, but what could say the US do with large gold reserves to affect their currency or those of say China?

Gold doesn't even exist

>tfw we're hitting peak Gold and Central Banks are about to crash super hard
>tfw you're balls deep in gold, silver, and bitcoin

Gunna be sweet!

What do you mean by "4th or 5th level resource"?
What determines the level?
What are some examples of higher level resources and why?

If I remember correctly Gordon brown sold a lot of it.

Don't think we had much to begin with desu.

People with large volumes of gold can move a market downward, and thereby fuck with other people's plans to buy/sell gold.

Why gold in particular? Why don't nations stock up on say platinum?

Are you just asking questions for the sake of it? I'm getting the feeling I don't want to answer any more.

Why is Germany so rich?

>deflation is bad
fuck off kike

Gold is real money bro. International money. IF you have gold, you are your own central bank.

Lot of White farmers in South Africa right now? They are discovering that land is not money, and they wish they had gold instead of land.

Land has value, but you cannot grab your land and run out of the country when your government goes full nigger and makes a law that says they are going to take everything that whites own.

(Now all that being said, bitcoin was thousand times better than gold)

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ww2 loot...
once upon a time you guy were pretty badass

>Not when you start trading all over the world via the internet.
Ok, so advanced economies have only been around since the internet age? You seem confused.

>ww2 loot

lmao yeah we had some great times

>ww2 loot
i wish your flag was aussie and not burger

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They wish they had brass, lead, and steel. Gold can't kill men looking to kill you.

Do you have the list of Gold produced by country? It really puts the destruction of South Africa into perspective when you realize that it hold the LARGEST GOLD MINE IN THE WORLD. You do not simply snub the British Empire and walk away with such a treasure.

White South African farmers have plenty of guns bro. Not going to matter when pic related shows up at your farm, with guns and tanks.

When pic related shows up at your farm, you find out that land is not money, and guns cannot get you out of some shit, only gold and a fast car headed to the border can get you out of this level of bullshit.

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>Redpill me on gold

Tungsten

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>You do not simply snub the British Empire and walk away with such a treasure.

You can, but you would have to defeat them in combat to keep it. The value of gold is so incredible, of course every kind of pirate and thief will be after you if you have gold.

I'm really just very curious about political economics as I have no knowledge of it. I'm not pulling a Socrates form of argumentation.

Okay that's alright then. Other precious metals are not as valuable as gold for various reasons, and there are a few theories on the topic, but the answer of "why gold?" eventually boils down to "because people believe its stability". No other metal has a history like gold because currencies experience a kind of highlander effect where there can be only one. That's why copper and silver and platinum can't compete with gold.

Maybe not convincing but try this thought experiment: you are a farmer that wants to save wealth for when winter comes, and you can choose between gold and platinum (no fiat here). If you know you're gonna trade the gold/platinum for food in 1 year, then what you are interested in when deciding between the two is their exchange rate in 1 year. Forget 'price' (there are no dollars) and you can see that 1 gold buys X platinum now and Y platinum in a year. So if gold keeps its value or appreciates with respect to platinum, it's the better choice. Since everyone is trying to make this choice they benefit from agreement, and the single currency is born (in theory). Maybe it helps.

Nothing has intrinsic value. Gold and silver are valuable because people believe them are be.

Gold is the most important factor when it comes to determining the quality of a native people

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Yeah that makes sense. I'm of mind to believe that that the choice isn't arbitrary as much as it has to do with historical and mystical purposes. Honestly a long study of the history of Gold would lead to some very fascinating discoveries about history, theology, economics and human nature.

It certainly isn't arbitrary since the supply, difficulty of mining and longevity of gold are important. There have also been a few times in history where some areas had both silver and gold next to each other, and this unstable situation led to some interesting effects and policy. Basically you don't want to be the guy betting on the wrong currency horse.

>Means we have to extract gold from the ground as fast as the economy grows
This is what Keynesians ACTUALLY believe

*only in winter

Look at all the asthma!

>tfw highest gold holdings per capita

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you should be able to get a shirt, coat, pants, shoes, underwear, belt, socks, hat with 1 ounce of gold.... you know.. a nice suit..

so buy chainlink.

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How the fuck is the united states so high then?