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Author Topic: Gold - is it really safe investment?  (Read 2220 times)
Bitcoin Oz
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November 24, 2012, 03:57:04 AM
 #21

I read somewhere that for gold to be as a reserve, like a gold standard, each fiat $ backed by gold, an once of gold sould be priced arround 33 000 $  instead less than 2000 like those years.

Based on the numbers found on these websites, I am calculating 10176$ / troy ounce of gold reserves.  I am somewhat surprised though, I seem to remember it being higher, so either my memory is wrong, or I am using the wrong resources.  They would be fools not to buy up some gold prior to going to gold standard though, so this would give a number between the current price and 10176$.

http://research.stlouisfed.org/fred2/series/BASE/
http://en.wikipedia.org/wiki/Gold_reserve#Officially_reported_gold_holdings

I'm not an expert, but that seems wrong because the 8133 tons of gold are only a portion of the assets held by the Federal Reserve. If the Federal Reserve sold off all their assets except gold, then the currency and deposits left over would be 100% backed by gold. Any idea what this number would be? I'm guessing a lot less than $10176/oz.


Its more likely 1000 tonnes of gold and 7000 tonnes of tungsten.

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November 24, 2012, 07:11:28 AM
 #22

Energy costs are only increasing. Obviously as oil becomes more expensive, oil companies are willing to consider more expensive means to acquire oil, case in point: canadian tar sand bitumen extraction, BUT, in general, I think energy costs are going to only increase. Gold of course is mined out of rock and that takes an incredible amount of energy. "Safe investment" is also relative. I think if you are seeking to save your equity, cash is probably the worst. Land or hard metals are better. But if you get your cash to WORK, ie through business, then you can probably get a better return. Fiat money is paper backed by a promise supported by an industry defended by an army. Warren Buffet billionaire wunderkind has always debauched gold and rightly so, it sits there; for him he needs something can can be hooked to a plow and cash is more liquid. It depends on you. China, the largest holder of US T-Bills in the world has recently imported around 500 tons of gold for 2012. The entire gold holdings of the EU amounts to that amount. Obviously China is not bullish USD.

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November 24, 2012, 04:36:21 PM
 #23

I honestly believe that the only truly safe investment is in land, because then at least if the worst happens you can always just live off the food you grow there, everything else is relative to the time you're in.
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November 24, 2012, 05:15:59 PM
 #24

I honestly believe that the only truly safe investment is in land, because then at least if the worst happens you can always just live off the food you grow there, everything else is relative to the time you're in.

And then your property gets nationalized, or taxed to death....
I don't think there is a single investment that is completely foolproof.
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November 24, 2012, 05:20:18 PM
 #25

What about a space battleship? Cheesy
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November 24, 2012, 05:33:06 PM
 #26

I honestly believe that the only truly safe investment is in land, because then at least if the worst happens you can always just live off the food you grow there, everything else is relative to the time you're in.

You cannot take your land and flee if you have to. In the event that you must leave the area you are in then you will have to leave your wealth, and it will not be a good time to sell.

Also, around here I would have to pay a yearly tax the the government to have my land and I would not own the mineral rights and if they wanted to build a highway through it I could not stop them. In Canada you don't own land, you pay for it then you rent it from the government.
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November 24, 2012, 05:39:44 PM
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What about a space battleship? Cheesy

Those are awesome investments !  I have several, mostly because I have a tendency to crash into hostile planets....
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November 24, 2012, 05:43:12 PM
 #28

What about a space battleship? Cheesy

That depends if you take up piracy for example and the ships you loot only carry basic minerals you are fucked. The most profitable venture, trading slaves also cannot be exploited by blasting the ships.
Trading illegal goods is prone to exponential profit and bounty hunting or working for fractions is not... So you'll end up using all that room for cargo instead of weapons if you want ROI.
Transporting certain passengers can be worthwhile with a small cruiser though.
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