Gold and silver prices are down

rep308 said:
Interested what the Gold Bugs think about this, it's about 5 mins long


View: https://www.youtube.com/watch?v=-rANSHB4q1Y
Click to expand...


He said so many incorrect things I wouldn’t listen to him. He’s right in that governments love fiat and would not willingly choose gold. They might be forced to back a future currency with gold if the people lose all faith in fiat currency, like after it collapses.

China and Russia might be starting a gold backed currency for trade, only cause the dollar is being used as a political weapon.

His point there’s not enough gold to back all the fiat is retarded. That’s the whole point, gold would have to be revalued much higher cause fiat is so worthless.
 
PioneerHD said:
The only way an economy can expand is by fiat money.
You can't expand an economy with gold.
Click to expand...

I think you mean currency growth, which is not the same as economic growth. Of course you can also expand currency, you expand at the rate that gold reserves can be mined, which traditionally was around 3%. But 3% is not enough for governments that want to print massive amounts of new currency every year.
 
PioneerHD said:
View attachment 778915
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Wow, you fell right into the government trap, that we need a massively expanding currency to have a good economy.

That is so wrong. We only need a massively expanding currency to have a massively expanding government. 😞

And stop believing that deflation is bad, that’s what governments want you to think. It’s bad for them, but good for the people!
 
PioneerHD said:
The only way an economy can expand is by fiat money.
You can't expand an economy with gold.
Click to expand...
I would say that is a very superficial viewpoint of what causes growth and expansion. That is held by most of the public today. Energy causes growth and expansion only. Units of stored energy like hard assets such as gold or in the case of currency (which is actually only a byproduct of labor or work) can cause expansion. It all comes down to energy as the core.
 
DJBrad said:
I would say that is a very superficial viewpoint of what causes growth and expansion. That is held by most of the public today. Energy causes growth and expansion only. Units of stored energy like hard assets such as gold or in the case of currency (which is actually only a byproduct of labor or work) can cause expansion. It all comes down to energy as the core.
Click to expand...

If so we’re screwed cause we put more energy into alternative energies than they produce. Wind power is a giant money suck, nobody makes money on it and the government pumps money into it.
 
Varmint said:
If so we’re screwed cause we put more energy into alternative energies than they produce. Wind power is a giant money suck, nobody makes money on it and the government pumps money into it.
Click to expand...
Inflation reduction act.

Fiat money is chasing these alternative energies but no where have they become baselode alternatives and as we’ve seen they fail everytime.
 
DJBrad said:
Inflation reduction act.

Fiat money is chasing these alternative energies but no where have they become baselode alternatives and as we’ve seen they fail everytime.
Click to expand...

This proves inflation will not go away, because the government only knows one policy and it is inflationary.

And why would it? Our government needs inflation to devalue its ever growing debt, they will only pretend to fight it.
 
DJBrad said:
I would say that is a very superficial viewpoint of what causes growth and expansion. That is held by most of the public today. Energy causes growth and expansion only. Units of stored energy like hard assets such as gold or in the case of currency (which is actually only a byproduct of labor or work) can cause expansion. It all comes down to energy as the core.
Click to expand...
Then where does new money come from ?
I rest my case.
 
DJBrad said:
Gold is money. A tier 1 asset class. Fiat is currency. Money doesn’t grow on trees either.

How do you get money? From energy.

I rest my case.
Click to expand...
You should do some reading on the topic.
Im not interested in debate
Gold is a commodity. With the longest history of value on earth. It is not money
 
PioneerHD said:
You should do some reading on the topic.
Im not interested in debate
Gold is a commodity. With the longest history of value on earth. It is not money
Click to expand...
It’s where you’ve been trapped in recency bias. We will amicably disagree with semantics and viewpoints.
 
DJBrad said:
It’s where you’ve been trapped in recency bias. We will amicably disagree with semantics and viewpoints.
Click to expand...

He’s technically right, governments do not recognize gold as money, yet gold is what their central banks choose to stockpile to give their fiat currencies legitimacy.

Which is tacit acknowledgment that gold is money, and the only money worth trusting.
 
Last edited:
Anyone care to explain this? Todays chart shows gold at $1998, but the Aug futures is around $1958, even the range shows that.

Yesterdays instant $30 drop was weird too.

B039EF62-8A5B-4A98-9E8C-5C7DB3753A00.jpeg
 

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