Silver, gold, diamonds vs knives, guns and bullets

[Dien Rice]

Originally Posted by GordonJ

As for gold, when IT (the shyeet) goes down, my opinion: you can't eat gold. I think it is, perhaps, the biggest scam on investors ever perpetrated.

Hi Gordon,

I read that one of the reasons why gold is valued in "hard times" is because it's easy to take it with you when you escape!

1 oz of gold is now just short of $1200. That means if you want to "run away" and carry a wealth of $100,000... You'd just have to carry around 100 oz of gold, or around 6 lbs (or just under 3 kg for metric folks). Easily doable for the average man or woman!

It's interesting, but... I read that when the Spanish went to South America, even though the two peoples had never met before, they both placed a high value on gold!

Why do we value gold? It seems the bottom line is because gold preserves itself... It doesn't react with things, rust, tarnish, decompose, or otherwise degrade, unlike almost everything else... A golden statue created today, will look pretty much identical 1,000 years from now. If you're going to use something for "money" - you generally don't want it to rust or decompose...

Why do we value gold?
http://www.bbc.com/news/magazine-25255957

Anyway, I didn't know this before... I only just found about it now after getting curious from reading your post, and doing some "Googling"...!

Best wishes,

Dien