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jesus christ, is it possible to actually let an institution fail in this country??? (pg. 2)
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| Fir3start3r |
I hear yea Shakka - scary stuff goin' on down there...
But I'm one to talk with our bailout of Air Canada up here...
Wanted for questioning...
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| Shakka |
| quote: | Originally posted by Krypton
It's well-known the Democrats do advocate government intervention during a crisis. They're called socialists, liberals, even marxists for it. But when Republicans do the exact same thing, oh, they're the free-market party...:rolleyes: |
Apparently they're more concerned with getting re-elected as well. Most politicians seem to be willing to take any short-term band-aid over any real long-term solution. This is like giving antibiotics to an AIDS patient. Oh, look his fever went down! Oh, he's still going to die. |
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| Krypton |
| quote: | Originally posted by Shakka
Apparently they're more concerned with getting re-elected as well. Most politicians seem to be willing to take any short-term band-aid over any real long-term solution. This is like giving antibiotics to an AIDS patient. Oh, look his fever went down! Oh, he's still going to die. |
lol, true...what's needed is send all the lobbyiest packing. Shut K Street down for good. |
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| mndeg |
lehman, merril lynch, washington mutual, wachovia, aig (huge), are all on death watch
odd that just a week ago, seemed like their insolvency issues were ignored. |
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| DJ Shibby |
| quote: | Originally posted by Capitalizt
Glad you see it Shakka.. Both parties in Washington are responsible too. They have accepted these bailouts as necessary and proper roles for the federal government. I hope more people realize how disastrous this is for the country in the long run. Full blown socialism is just a heartbeat away. Cash out your stocks and protect yourself from the fools in government while you still can. They've crushed gold and silver over the past few weeks...might be a smart time to pick some up and bury it in your backyard. It's one of the few things that will still have value when the smoke clears. |
I'll never understand why silver and gold would really hold any more worth than pieces of paper marked as money.
Are we just obsessed with shiny things?
All the gold and silver in the world isn't worth half a piece of bread in the most desperate times. |
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| Krypton |
| quote: | Originally posted by DJ Shibby
I'll never understand why silver and gold would really hold any more worth than pieces of paper marked as money.
Are we just obsessed with shiny things?
All the gold and silver in the world isn't worth half a piece of bread in the most desperate times. |
Paper is paper. Gold and silver carry with them intrinsic value which has always gone up over time. Meanwhile, paper currency always declines, known as "inflation". As for the desperate time you speak of, when they occur, gold and silver values sky-rocket, so contrary to your assertion that gold/silver isn't worth a piece of bread in desperate times. The reality is, 1 oz of silver in a desperate time could probably buy enough bread for a month.
One of these is worth around $15-20. If say, the economy completely collapsed and now dollars have inflated maybe 1000% in hyperinflation (like Zimbabwe), this gold coin would from $20 to $200. I have 10 of these coins, so I think I've got a nice stash of emergency currency in the event of such a calamity. |
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| DJ Shibby |
| quote: | Originally posted by Krypton
Paper is paper. Gold and silver carry with them intrinsic value which has always gone up over time. Meanwhile, paper currency always declines, known as "inflation". As for the desperate time you speak of, when they occur, gold and silver values sky-rocket, so contrary to your assertion that gold/silver isn't worth a piece of bread in desperate times. The reality is, 1 oz of silver in a desperate time could probably buy enough bread for a month. |
My pondering is why.
Why why why?
I'm truly interested in more insight on the shiny thing phenomena! |
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| Krypton |
| quote: | Originally posted by DJ Shibby
My pondering is why.
Why why why?
I'm truly interested in more insight on the shiny thing phenomena! |
Humans find value in gold/silver. It's a psychological thing. What does one accept as a means of exchange of goods. They exchange something of value for in an equal trade. Gold/silver has been used for thousands of years for such transactions. Why? I guess it's a psychological thing. But if bad things happen, the value of gold/silver goes up, because it is something which has intrinsic value. |
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| LazFX |
| quote: | Originally posted by Krypton
I have 10 of these coins, so I think I've got a nice stash of emergency currency in the event of such a calamity. |
100 of these as well.....
have gold as well....but loose lips sinks ships :thepirate |
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| Capitalizt |
| quote: | Originally posted by Krypton
Humans find value in gold/silver. It's a psychological thing. |
It has less to do with psychology and more to do with rarity. Things that are rare are worth more. That's why people pay big bucks for Mickey Mantle rookie cards. There is a finite supply of precious metals in the world, but we have an unlimited supply of trees...which means an unlimited supply of paper to print for currency. Other things have intrinsic value too. Food is valuable, but it spoils. Land is rare and valuable, but it can't be moved and is subject to taxation. Oil is rare and valuable, but it is difficult to store and transport. Gold is rare and valuable..and it also happens to be easily recognizable and very easy to store, transport, and hide...It is for these reasons people have desired it since the beginning of recorded history, why people use it as a store of wealth today..rather than putting their all of their faith in paper that can be devalued on a whim. |
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| Shakka |
...Enter the diamond/water paradox!
Wow--this Lehman situation is really getting interesting and is coming down to the wire. Paulson maintains that they will NOT put any government backing or taxpayer money at risk if a deal is to be done. However, according to sources Barclay's just walked away from the prospect of a deal and they might've been the only potential suitor left at the table. If they don't get something done by tonight, prepare for all hell to break lose. |
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| Krypton |
| What a shame the current management has run the one of the oldest firms on Wall Street into the ground. |
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