Are we in the middle of a financial meltdown?

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Gold is rare. That is the one attribute that counts. You need something rare to be used as replace money, otherwise you get inflation.

But it isn't money, it's a commodity... I don't know. I just don't trust it.

 

Now... how could we leverage johnny's blowjobs? Is some sort of derivative product available? What about counterparty risk?

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Gold is a commodity, but it is also valued as money.

It's value can go up or down against currencies but it is a safe haven in turbulent times.

 

If China bankupted the US tomorrow and the dollar became worth less than the paper it is printed on, gold would still be around.

 

Blow jobs when rare can command a high price but can't be a form of currency.

They are an act of labour and when it is over it is over.

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Blow jobs when rare can command a high price but can't be a form of currency.

I believe blowjobs are a form of currency in prison, no?

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For something to act as a currency, it can't be consumed.

So cigarettes can be used as a currency, but not once they are smoked.

A blow job may command a high price in the market but when it is over it is over.

 

Someone who gives good blow jobs can command a high price in the market, but only until the prettier better blow-jobber

comes along or there is no longer a desire for blow jobs.

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A currency must be medium of exchange, a unit of account, divisible without destruction of value, fungible, standardized, a store of value (can be reliably saved, stored or retrieved) and have liquidity (easily tradeable with low transaction costs).

 

Not sure if the foregoing qualifies outside of liquidity.

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My post was on the back off Warren's little gem this week:

 

 

Warren Buffett, after investment in Goldman Sachs: “You can’t keep money around for ever. It’s like saving sex for your old age.”
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Money has no value,

Gold has value,

Gold backs money,

money has value.

 

Or so it went until the gold standard was abolished (in the US) in the 1970's.

 

Now the only value money has is that the government promises you it has value.

 

Forget gold. Buy real estate, really.

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Forget gold. Buy real estate, really.

There is trouble with real estate too. It can and is taxed. It can't be moved. A war and governments can take it away from you. (Zwangsenteignung.)

Property rights are only as good as Governments inside and outside their jurisdiction. Just remember what happened after WW2.

 

I'm a gold & silver man :)

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I have never understood gold as an investment. What use is it, apart from jewelry and some microcircuits, and that schapps you can get in Dresden? It seems that the only thing giving it value is the long standing belief that it has value- which sounds like the ulitmate (Dutch tulips notwithstanding) bubble investment.

My harp has 29 gold strings (14- and 18-karat.) It's worth more every week! :)

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I keep buying gold for my girlfriend, but I she seems to be depreciating in value much faster. any tips?

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Well as long as she is your girlfriend and not your wife she remains a trading position and not a buy and hold so you should be okay..

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It's just a useless lump of yellow metal.

you mustn't have been around women very much. Not only has gold very useful application in modern society, This lump of gold, when made into a chain or a ring will get you that blow job anywhere any time. :rolleyes:

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