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Why Gold Will Eventually Be Almost Worthless


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I can only say.

I am from India and how long Indian people will exist, there will be

demand for Gold. It was always so it always will be. You can split India/ Pakistan people from gold. We learn from young on not to

Trust government or legal tender. They come and go until now only gold stand firm on its value. Even the poorest people save what they have and put it in gold. When we look back on mankind history gold was always something precious and is still today

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"You see, 50 years prior, gold had lost its value when scientists figured out how to manufacture it."  This new manufactured gold goes under a variety of brand names including Bitcoin, Litecoin, Peercoin, Feathercoin, Primecoin, Dogecoin, Darkcoin, Freicoin, ad-nauseum-coin. 

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I can honestly say I never read so much bullsh*t in all my life. Precious metal has been and will always be a store of wealth.

If, at some point in the future, we had a global war and electronic systems got wiped out for whatever reason, then where does your store of wealth in the internet and plastic go then?

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I can honestly say I never read so much bullsh*t in all my life. 

 

I wish our politicians were as up front & honest as doogs :)

 

Just goes to show what info gets peddled out there in internet-land.

 

So in the articles opinion gold is finished.  Yet it has formed part of monetary systems for over 5,000+ years

 

This fiat paper 'experiment' we are on currently is 40+ years young (1971) and there is a worldwide race to the bottom of each devaluing one another currencies 

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I can honestly say I never read so much bullsh*t in all my life. Precious metal has been and will always be a store of wealth.

If, at some point in the future, we had a global war and electronic systems got wiped out for whatever reason, then where does your store of wealth in the internet and plastic go then?

 

Thanks doogs you've just saved me reading that B--lsh-t

The problem with common sense is, its not that common.

 

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I did read it. But only because its quiet at work and I'm bored. My opinion is the author of the article is a loon who doesn't really understand how money works. His premise is that once everybody in the world gets access to the internet and access to currencies via the internet then gold will not be needed and the price will collapse. Forgetting of course that in order to access the internet you need PCs or phones to do so. And what is an important item needed to manufacture them. Well gold of course. Until someone can invent a substance to replace gold in electronic equipment then the demand for gold will continue to increase. And remember a lot of old PCs and phones never get recycled meaning that a proportion of gold is lost to landfill.

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I read this yesterday from moneyweek

 

http://moneyweek.com/right-side-money-taxation-uk-economy/

 

it's about taxing the rich or why we shouldn't, but it brings up one very important fact about Spain and Gold and Silver.  It states that when Spain plundered the Americas it became so wealthy that most people in Spain retired early and lost its real wealth! Spains ability to support its self, grow crops, manufacture things,skilled work, failed as most of the Spanish had retired.

 

I believe our country is in a similar situation as Spain was  apart from 2 facts the workers now do mainly non productive work that does not produce wealth for our country.  The wealth most people have is in equity not Gold/Silver.

 

We are totally reliant on imports  and have been since the 1980's.

 

So in our country Gold is a good investment because most of it has gone east, while equities IMO are ready for a big correction.  

 

That Brian Lund talks nonsense, unless he wants to buy some Gold very cheaply!  

Always looking to obtain Gold.  Feel free to contact me

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we can currently manufacture rubies and some other

precious stones I believe. we still dig in the ground for

them cos it make economical sense to do so.

 

gold is an element, I doubt being able to fuse or split

other elements to make gold is economically viable.

 

above all he is missing the most crucial factor that makes

gold expensive. it makes political sense for gold to

retain it's value. (only the rich in the world have the

wealth to accumulate gold, try telling them that what

they own is now worthless?, remember in a capitalist

society 90% of it's wealth is owned by 10% of it's people,

if you are selling 90% of it's total wealth, who is buying?)

 

HH

trade in currency, save in gold

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Total rubbish.

Unless someone does the impossible and finds a way of transmuting base elements to gold and floods the market with it, gold will always retain it's value in terms of purchasing power, it always has. It's irrelevant what gold is worth in terms of dollars, it's purchasing power that counts. Whereas an ounce of gold buys exactly the same goods today as it did hundreds of years ago, the dollar has devalued by many times.

Putting his faith in electronic money is ridiculous. When it come to the crunch, who the hell is going to trust some computer somewhere to remember how much "money" and wealth they own? Look at the ways banks and other con-men find to part you from your money. Who are we going to trust to control the computers?

Civilisation seems very cosy these days but that can't last; wars, famine, disasters etc will happen again in the future and people want something solid and tangible they can trust to retain their wealth.

I love sovereigns, me😁

 

BullionByPost referral program recommended for sovereigns at less than spot 🙂

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Have we not done the same with diamonds?

From what I can see, diamonds can be made in a lab cheaper than buying the actual thing.

Are real diamonds now worthless?

Not sure myself but I'm told that artificial diamonds aren't as good as real ones in the "sparkle" stakes and jewelers can tell the difference.

Bit different to the gold situation though, diamonds have never been used as money or a store of wealth; purely cosmetic except for a small industrial use and you just try selling them for anything like what you bought them for. Gold can be bought and sold anytime.

From a scientific POV, making diamonds is simply compressing carbon, takes energy but doesn't involve changing the elemental nature. Making gold would involve changing one element to another, a vastly different ballgame unless radio-isotopes are involved. The starting element would probably cost far more than the gold.

I love sovereigns, me😁

 

BullionByPost referral program recommended for sovereigns at less than spot 🙂

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Diamonds are an interesting case. Until very recently deBeers held an almost total monopoly on production and to maintain market prices they are known to have withheld huge quantities of gem quality diamonds. Russia and Canada have both started mining diamonds in the last few years  but they are also, to some extent, playing the market game. That said, the price of diamonds has dropped considerably, particularly for smaller stones. As the production methods for synthetic diamonds improves not only are the stones becoming larger but the trace impurities are also being reduced making it difficult approaching impossible to identify synthetic from natural in the case of small and medium sized stones. 

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Gold is made when stars collide in supernovas and with the fusion reactions produce gold and just about every other element and compound.

These are spewed into space and travel for billions of years before being captured by other stars and forming planets.

Alchemists are not going to manufacture gold cost effectively in the laboratory.

 

Diamonds on the other hand are pure carbon in a crystalline form and can be grown in MOCVD or some other type of process in the laboratory.

Maybe throw into the pot the odd spec of dust for an inclusion or impurity to change its colour / properties and confuse the synthetic with the natural ?

 

We all know how precious a gemstone sapphire can be yet we grow pure sapphire in big boules for wrist watch glasses and scientific windows many centimetres in diameter.

We also produce diamond nowadays for use as electronic heat sinks.

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Gold has been artificially made but would cost far more than mining it at present.  I believe radioactive isotopes of gold were first made around the 40s or before and Mercury and Bismuth have since been converted.

 

i haven't read the article but I guess it is possible that many, many years in the future optical or organic computers won't need much in the way of gold and money may be unnecessary but it's not something we have to worry about I'n my opinion.

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The whole De Beers diamond story is very interesting, have to take your hats off to them. 

 

Diamonds aren't naturally rare in the first place, just the best marketing ever by De Beets, "Diamonds are a girls best friend" and all that. 

 

I watched documentary about lab manufactured diamonds and De Beers are trying to make them seem counterfeit, like buying your wife a  counterfeit designer handbag instead of a real one 

Edited by Kman
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Total rubbish.

Unless someone does the impossible and finds a way of transmuting base elements to gold and floods the market with it, gold will always retain it's value in terms of purchasing power, it always has. It's irrelevant what gold is worth in terms of dollars, it's purchasing power that counts. Whereas an ounce of gold buys exactly the same goods today as it did hundreds of years ago, the dollar has devalued by many times.

Putting his faith in electronic money is ridiculous. When it come to the crunch, who the hell is going to trust some computer somewhere to remember how much "money" and wealth they own? Look at the ways banks and other con-men find to part you from your money. Who are we going to trust to control the computers?

Civilisation seems very cosy these days but that can't last; wars, famine, disasters etc will happen again in the future and people want something solid and tangible they can trust to retain their wealth.

I can't provide a link but I remember reading an article claiming an ounce of golds buying power is pretty much what it was two thousand years ago, I can't think of much else with that kind of consistent value, anybody care to hazard a guess on what the dollar will be worth in two thousand years time, how about two years time?

 

I think he has an excellent point.

 

However, as I am a generous Chap, I will pay anyone who is interested £100 per oz for your worthless gold.

I'll go £101, and I'll even take scratched and dinged coins.

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I can't provide a link but I remember reading an article claiming an ounce of golds buying power is pretty much what it was two thousand years ago, I can't think of much else with that kind of consistent value, anybody care to hazard a guess on what the dollar will be worth in two thousand years time, how about two years time?

I'll go £101, and I'll even take scratched and dinged coins.

Take a look at this video on YouTube:

http://youtu.be/RoTxTHRft3w

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