Are black people/Rappers/Athletes NOT wasting money on gold/silver chains, jewelery?

[Banderivets]

You're not getting it. Gold could be the money once again.

You'd be dumping the paper cash for the commodity which could be the money again, as some are foreseeing. Gold Standard.

Are you implying that there will be a return to the gold standard?

The only way to make money forever is to keep investing from one thing to the next...

Gold is bound to go up more and then go down again...as is the case with many other things. But that does not mean that you should sit on it forever because who know what the formula for that slope will be when you actually need to turn that gold into money.

Wouldn't you say that one should dump the gold when it hits two grand and then reinvest that money into some other commodity?

AFAIK platinum used to be more then gold now platinum is the same as gold.

[Ryn0]

You're not getting it. Gold could be the money once again.

You'd be dumping the paper cash for the commodity which could be the money again, as some are foreseeing. Gold Standard.

I only just saw this after I posted my thing. In the U.S technically you can use gold and silver as currency, it's a legal tender. It's just that it's not a realistic method of paying for things right now

[One_Tycoon]

I only just saw this after I posted my thing. In the U.S technically you can use gold and silver as currency, it's a legal tender.

This is not true. The U.S. does not allow this, unless you live in Utah:

http://www.goldmoney.com/gold-resear...al-tender.html

[One_Tycoon]

Are you implying that there will be a return to the gold standard?

Hopefully, ideally yes. That ought to cut spending and shrink government, when the Dept. of treasury can just coin Gold & Silver, and nothing that can be printed to finance the Govt's expenditures.

Gold Standard = Smaller Government by default. Smaller Government = True Free Market Capitalism wit Govt. being less in the way, interfering with the Free Market.

To kill the Big Govt. beast, one ought to go after the heart of it.

[MARKBNLV]

They lose on those diamonds debeers owns the market on,they can make them as expensive or cheap as they want.

[One_Tycoon]

Right, technically it's exchanging currency for currency. However custom jewelry is only worth the money spent on it, and not a cent more...........and in most cases is sold as a loss at melt unless you find a buyer.

Gold is Gold. With hyperinflation and more states passing laws that make gold and silver a legal tender, stores and businesses will accept any kind of Gold, even if not in bar or coin.

Those with just one coin will be able to fill up a entire gas tank, while someone with 100 in cash can't even fill half.

The Government should even do it's last Socialist deed by redistributing all that Gold they're holding, that they confiscated from the people back in the early 1900's.

[One_Tycoon]

Gold is Gold. With hyperinflation and more states passing laws that make gold and silver a legal tender, stores and businesses will accept any kind of Gold, even if not in bar or coin.

Those with just one coin will be able to fill up a entire gas tank, while someone with 100 in cash can't even fill half.

The Government should even do it's last Socialist deed by redistributing all that Gold they're holding, that they confiscated from the people back in the early 1900's.

Well, preferably more of that Gold to the job creators and product makers, and they can keep redistributing it to those working for them, in a more pure free market form of trickle down economics.

[Run]

Gold is Gold. With hyperinflation and more states passing laws that make gold and silver a legal tender, stores and businesses will accept any kind of Gold, even if not in bar or coin.

Those with just one coin will be able to fill up a entire gas tank, while someone with 100 in cash can't even fill half.

The Government should even do it's last Socialist deed by redistributing all that Gold they're holding, that they confiscated from the people back in the early 1900's.

My point was,

The only place you buy Gold for it's melt value is from a crackhead.

It doesn't change my stance in that I think it's beautiful and in my eyes valuable simply because it's beautiful.



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[Tino Quintero]

we have tons of gold but i dont wear one...

[Spartacus Sully]

Think about it. It's often said that they waste money on jewelery, rims, golden watches, silver chains etc,. That they're being stupid with their rich money.

But aren't they just being "bearish" regarding our fiat money dollar which might collapse at some point soon, and being "bullish" by investing into tangible assets such as precious metals, gold, silver, platinum etc,. All while wearing and enjoying it at the same time. They're being market savvy.

Just challenging the conventional wisdom.

most the time the jewles they wastin' money on be rented.