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  1. #1
    Secondary Hivemind Nexus squirrel's Avatar
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    Gold Price is FXXKING &$^*#)(&$ Free Falling!!!

    I don't fxxking believe it. All those paper money printers are printing banknotes and pumping them into our economies like hell, diluting the value of our hard-earned currency. Those banksters, those thieves!! Now they manipulate the market to force down the price of the precious metal. FFF!!

    My heart sinks to the bottom when I read that gold price is probably going to sink below USD1400 an ounce. But F you, banksters. I hold solid gold, not some over-leveraged paper gold. I can hold as long as I want. Let's see when your trick goes burst and burn yourself.

    Sigh, I recall that in the old days, annual interest payment from my bank account is enough for me to buy myself a PC game as a New Year present to myself, and those good old days are long gone forever.

  2. #2
    Secondary Hivemind Nexus Heliocentric's Avatar
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    No investment is sacred, especially investment in FUNDEMENTALLY worthless things like money and "precious metals".

    Give me Iron or farmland.
    I'm failing to writing a blog, specifically about playing games the wrong way
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  3. #3
    Secondary Hivemind Nexus Nalano's Avatar
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    You didn't realize that gold can bubble like everything else in the world?

    Joke's on you, then.
    Nalano H. Wildmoon
    Director of the Friends of Nalano PAC
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    "His lack of education is more than compensated for by his keenly developed moral bankruptcy." - Woody Allen

  4. #4
    Secondary Hivemind Nexus Tikey's Avatar
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    I blame the gold farmers.

  5. #5
    Secondary Hivemind Nexus Heliocentric's Avatar
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    Quote Originally Posted by Tikey View Post
    I blame the gold farmers.
    Give that man a Cigar.
    I'm failing to writing a blog, specifically about playing games the wrong way
    http://playingitwrong.wordpress.com/

  6. #6
    Secondary Hivemind Nexus squirrel's Avatar
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    Quote Originally Posted by Heliocentric View Post
    especially investment in FUNDEMENTALLY worthless things like money and "precious metals".
    You know what? Our parents' generation is probably the luckiest ever in the human civilisation history. Most of them have never experienced war, not ever for my country after those corrupted Nationalists fled to Taiwan in 1949 (some said last Nationalist force was driven out in 1950, but whatever). It's our parents' generation here who teach us that "For a decade shinny gold will be rusty copper." Last generation experienced the greatest prosperity ever not experienced by any previous generations, and money just keep pumping in as if there is no end of it, so they despise value of precious metal.

    Our grandparents' generation, on the other hand, highly regarded value of gold. There was an old lady who used to be my neighbor (unfortunately she passed away some years ago), taught my family to buy a gold coin each year with say our year-end bonus. My parents just disregarded this opinion everytime, considered those as some stupid old thoughts. They respected her in every opinion, every word except this. Right after I saw on TV the fall down of the World Trade Centre in NY, I kept urging my parents to buy gold. Back then gold was a few hundred bucks (in RMB, it's actually thousands of dollars, but I know we could afford), they just never consider the possibility of war. They said US would win. US always wins, so why bother to worry about any world war?

    It may be a luck of not understanding the value of gold, but we never know how long this fortune will last.

  7. #7
    Secondary Hivemind Nexus Jesus_Phish's Avatar
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    The "value" of gold is man made.
    "Halo is designed to make the player think "I look like that, I am macho sitting in my undies with my xbox""

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  8. #8
    Lesser Hivemind Node lasikbear's Avatar
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    Pffft, gold is just bitcoins for geologist nerds

  9. #9
    Secondary Hivemind Nexus Nalano's Avatar
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    Quote Originally Posted by lasikbear View Post
    Pffft, gold is just bitcoins for geologist nerds
    I was just about to suggest bitcoins, too, since they're shooting up in value.
    Nalano H. Wildmoon
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    "His lack of education is more than compensated for by his keenly developed moral bankruptcy." - Woody Allen

  10. #10
    Secondary Hivemind Nexus squirrel's Avatar
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    Quote Originally Posted by lasikbear View Post
    Pffft, gold is just bitcoins for geologist nerds
    You compare the value of gold with some currency which emerged from the dreamland less than 5 years ago?

    (But now you mention it, I heard ATI HD5XXX is currently the best for mining. You know where I can get a large batch of ATI HD5XXX?)

    And when I say gold I always refer to SOLID gold.

  11. #11
    Network Hub Dubbill's Avatar
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    I've been burying small caches of bitcoins in the nearby woods. Just call me future-proof.
    Open-faced sandwiches are upon you whether you would risk it or not.

  12. #12
    Secondary Hivemind Nexus Jesus_Phish's Avatar
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    Quote Originally Posted by squirrel View Post
    You compare the value of gold with some currency which emerged from the dreamland less than 5 years ago?

    (But now you mention it, I heard ATI HD5XXX is currently the best for mining. You know where I can get a large batch of ATI HD5XXX?)

    And when I say gold I always refer to SOLID gold.
    As I said before, the value of gold is man made. Just because your old next door neighbour told you gold was worth something, doesn't mean it is.
    "Halo is designed to make the player think "I look like that, I am macho sitting in my undies with my xbox""

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  13. #13
    Lesser Hivemind Node lasikbear's Avatar
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    Gold is slave to the markets, bitcoins are truly free; they are worth whatever anyone is willing to pay for them.

  14. #14
    Secondary Hivemind Nexus Nalano's Avatar
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    Quote Originally Posted by lasikbear View Post
    Gold is slave to the markets, bitcoins are truly free; they are worth whatever anyone is willing to pay for them.
    So bitcoins are even more slave to the markets. After all, we occasionally use gold to make things.
    Nalano H. Wildmoon
    Director of the Friends of Nalano PAC
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    "His lack of education is more than compensated for by his keenly developed moral bankruptcy." - Woody Allen

  15. #15
    Lesser Hivemind Node lasikbear's Avatar
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    But if I buy a bitcoin for $100 and then buy another one for $250 I now have $500 worth of bitcoins!

  16. #16
    Network Hub bad guy's Avatar
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    The gold price shows what money is worth, not the other way around.
    Last edited by bad guy; 15-04-2013 at 04:46 PM.

  17. #17
    Secondary Hivemind Nexus mickygor's Avatar
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    Gold has historically demonstrated a constant value. You have always been able to exchange roughly the same amount of gold for roughly the same amount of oil, or produce, or whatever you want. It's only when you introduce fiat currency that the value of gold appears to fluctuate wildly. If it looks like the price of gold is freefalling, invest in gold. If it's being manipulated by the wealthy, it's to catch out those that rely entirely upon intrinsically worthless currencies like the US dollar. You'll not be caught out if your wealth is in gold. So long as your landlord, your grocer, your utilities companies and your state accept gold, I guess. Nothing that selling it off a little at a time won't solve.
    Itsbastiat, Dawngate
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  18. #18
    Network Hub Colonel J's Avatar
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    Quote Originally Posted by mickygor View Post
    Gold has historically demonstrated a constant value. You have always been able to exchange roughly the same amount of gold for roughly the same amount of oil, or produce, or whatever you want. It's only when you introduce fiat currency that the value of gold appears to fluctuate wildly.
    This. To demonstrate, here's a graph of the price of oil measured in grams of gold and in currencies from 1950 to 2009

    041709-Crude-oil-prices-equitymaster.jpg

    I grabbed that from an excellent essay in the The Idler magazine a few years ago on why gold is the only worthwhile investment of the free man. I googled and what do you know, the author has reprinted it online. It's worth your time.


  19. #19
    Secondary Hivemind Nexus mickygor's Avatar
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    I had that exact image in mind when I wrote my post! Cheers :D
    Itsbastiat, Dawngate
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    Therin Katta, FFXIV, Cerberus

  20. #20
    Secondary Hivemind Nexus Malawi Frontier Guard's Avatar
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    Hello everybody.

    Did you know nearly every single consumer electronics device today contains some amount of gold? Crazy, isn't it?

    Anyway, see you later, have a nice day, and diversify your investments!

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