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#1
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
http://www.kitco.com/charts/popup/au0060lnb_.html
This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. |
#2
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
"Larry" wrote in message
... http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. -- "j" ganz @@ www.sailnow.com |
#3
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
On Sun, 31 May 2009 19:54:24 -0700, "Capt. JG"
wrote: "Larry" wrote in message .. . http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. On the other hand we have the old folks adage "don't take any wooden nickels". Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) |
#4
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
"Bruce in Bangkok" wrote in message ... On Sun, 31 May 2009 19:54:24 -0700, "Capt. JG" wrote: "Larry" wrote in message . .. http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. On the other hand we have the old folks adage "don't take any wooden nickels". Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) And "Not worth a Continental." Fiat currency always becomes worthless over time, unless it is revalued, which is the issuing bank's version of a reverse split. "You used to have $1,000.000 which was able to be traded for one loaf of bread. We have exchanged that $1,000.000 for 50 cents, which will still buy the same loaf of bread. Have a nice day." Examples throughout history are too numerous to mention, but include Germany, Yugoslavia, and even the United States of America. -- KLC Lewis Irrefutable proof of alien visitations! www.KLCLewisStudios.com www.cafepress.com/tmen www.zazzle.com/klclewis www.skreened.com/tmen |
#5
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
On Sun, 31 May 2009 23:26:20 -0500, "KLC Lewis"
wrote: "Bruce in Bangkok" wrote in message .. . On Sun, 31 May 2009 19:54:24 -0700, "Capt. JG" wrote: "Larry" wrote in message ... http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. On the other hand we have the old folks adage "don't take any wooden nickels". Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) And "Not worth a Continental." Fiat currency always becomes worthless over time, unless it is revalued, which is the issuing bank's version of a reverse split. "You used to have $1,000.000 which was able to be traded for one loaf of bread. We have exchanged that $1,000.000 for 50 cents, which will still buy the same loaf of bread. Have a nice day." Examples throughout history are too numerous to mention, but include Germany, Yugoslavia, and even the United States of America. Devaluation is one thing, when it now costs 45 dollars an hour to hire a man that used to work for a dollar a day. Revaluation is another. The French did it in 1960 with New Francs worth 100 Old Francs. Prices followed the new revaluation. Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) |
#6
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
KLC Lewis wrote:
"Bruce in Bangkok" wrote in message ... On Sun, 31 May 2009 19:54:24 -0700, "Capt. JG" wrote: "Larry" wrote in message ... http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. On the other hand we have the old folks adage "don't take any wooden nickels". Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) And "Not worth a Continental." Fiat currency always becomes worthless over time, unless it is revalued, which is the issuing bank's version of a reverse split. "You used to have $1,000.000 which was able to be traded for one loaf of bread. We have exchanged that $1,000.000 for 50 cents, which will still buy the same loaf of bread. Have a nice day." Examples throughout history are too numerous to mention, but include Germany, Yugoslavia, and even the United States of America. I used to have a collection of one hundred dollar bills. You know the type... Picture of Ben Franklin on the front... Guaranteed to make friends anywhere on the planet! I was trying to collect the whole set (save the $100 bills). I had a collection almost an inch thick! They were sorta fun to play with. Then I bought a boat. Now I have a boat. And I don't have to worry about what $100 bills are worth any more. A boat is supposed to be a depreciating asset. But I'm not so sure at the moment. If the value of money craters, the boat will be worth a lot more that the stack of $100 bills it took to buy it. If the price of new boats causes new boat sales to sink, the companies that make boats could fail. That also would drive up the value of used (experienced?) boats. All in all, I'm enjoying the boat a lot more than the little stack of $100 bills. Richard |
#7
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
On Mon, 01 Jun 2009 00:16:06 -0500, cavelamb
wrote: KLC Lewis wrote: "Bruce in Bangkok" wrote in message ... On Sun, 31 May 2009 19:54:24 -0700, "Capt. JG" wrote: "Larry" wrote in message ... http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. One can easily argue that gold is more fake than currency. Currency is a reflection of relative value and highly liquid, has relatively predictable purchasing power even in times of moderate inflation or deflation, and is ubiquitous and well-understood; whereas, gold is just a shiny metal that hardly anyone uses to acquire anything any more. You can make stuff out of gold, but you can also make stuff out of wood, which for survivalists would be a whole lot more practical. On the other hand we have the old folks adage "don't take any wooden nickels". Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) And "Not worth a Continental." Fiat currency always becomes worthless over time, unless it is revalued, which is the issuing bank's version of a reverse split. "You used to have $1,000.000 which was able to be traded for one loaf of bread. We have exchanged that $1,000.000 for 50 cents, which will still buy the same loaf of bread. Have a nice day." Examples throughout history are too numerous to mention, but include Germany, Yugoslavia, and even the United States of America. I used to have a collection of one hundred dollar bills. You know the type... Picture of Ben Franklin on the front... Guaranteed to make friends anywhere on the planet! I was trying to collect the whole set (save the $100 bills). I had a collection almost an inch thick! They were sorta fun to play with. Then I bought a boat. Now I have a boat. And I don't have to worry about what $100 bills are worth any more. A boat is supposed to be a depreciating asset. But I'm not so sure at the moment. If the value of money craters, the boat will be worth a lot more that the stack of $100 bills it took to buy it. If the price of new boats causes new boat sales to sink, the companies that make boats could fail. That also would drive up the value of used (experienced?) boats. All in all, I'm enjoying the boat a lot more than the little stack of $100 bills. Richard I've got my sail boat for sale and have asked the broker, who is one of the larger ones in Asia, how boats are selling. He tells me that over all sales haven't fallen much although some sellers have dropped prices. So, for the moment , probably, boats are worth about what they were a year or so ago. and, boating costs here, yard costs, marina costs, etc., haven't dropped any. With all the complaining - vehicle sales off 47%, exports dropping, etc., you'd think somebody would be lowering prices but they don't seem to be coming down at all, in fact, living costs, food, etc., have gone up. Even dunkin donuts just raised their prices :-( Was it you that was asking about the small diesel a while ago? How did that work out? Cheers, Bruce in Bangkok (bruceinbangkokatgmaildotcom) |
#8
posted to rec.boats.cruising
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Gold rose $100/oz in May, fuel strains to maintain par value
"Larry" wrote in message ... http://www.kitco.com/charts/popup/au0060lnb_.html This week, we'll probably pass the $1000/oz magic mark......again. Printing fake money has come home to roost and we're all going to get screwed for what the bankers have done to save their own asses.... Watch this chart very carefully: http://www.kitco.com/images/live/gold.gif Scary stuff.....for a bankrupt country. My beautiful gold Schaeffer fountain pen looks as though it might be worth holding onto. If only I could afford the ink to fill it! Dennis. |
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