Stupid things that bullion companies say

"Gold has never been worth nothing"

Tell that to the zombie getting ready to eat your head...

I just hate hearing their commercials on the radio... makes me change the channel or turn it off every time.

 

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Gold prices 'could hit $9,000 per oz' by 2015

Guess not!!
https://www.bullionvault.com/gold-n...prices_could_hit_9000_per_oz_by_2015_18898034

 

Hey, they could have -- they just didn't feel like it, man.

To be fair, I could wish I'd bought gold in 2008 (I wasn't quite back into the hobby yet), but I'd hope I would've had the luck to sell it in late 2011-2012.

 

I am with you on the commercials. Heck, I was listening to Rush the other day, (not a normal occurrence, first time in about 5 years), and every commercial break was ALL gold commercials. Three commercials back to back why "gold is the only worthwhile investment, blah blah blah...".

 

Try watching fox news

 

"The price is just going to go up"

They're on every channel now and even late night informercials. Best investment ever, a DVR

 

Go take a look at http://www.silverdoctors.com/ sometime. There is almost always some imminent collapse within the next ten days being predicted. I think yesterday was the doomsday that came out at the beginning of March. You'll find lots of bold, red, and catchy pictures to spook you.

Stupid thing is, I like to buy from those guys, but their "news" site Edit: Language violation.Read rules. Too bad they don't use the platform to dig up some actual news and provide some education. I'd love to read about mine performance, actual break evens, production, consumption, supply economics etc.

 

That wouldn't sell gold and silver.

 

Actually it might - but certainly not at premiums they'd like.

 

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Monex
had a commercial in the 90s that states " Golden Philharmonics the most popular gold Bullion coin in the world".

 

Or the company that talks about the gold market in general, but then goes on to say their offering is layered with 24k pure gold.

 

Well if you think about it, ever since money was invented, gold has always been an item of wealth. Maybe before money was a "thing", it may have just been a shiny metal made to create cool things. The only way gold will be worth nothing in today's society is if countries completely do away with currency. Even there; it could still be used for barter if it doesn't have a monetary value.

 

The annoying part about the it has never been worth nothing line is that is true for everything. Water has a value, food has a value, paper has value ect. Think about all the things you could go out and get for free its basically air and sunlight, everything else has a value that people sell. So while it is technically a true saying it is completely misleading and in no way is it unique to gold

 

You could even remove air from your list of free things. Gas stations charge you to fill your tires, they sell canned air for blowing dust out of computers, scuba divers pay for it, etc.... usually because it is compressed.

 

Very true, if you heat/cool/compress air that isn't even free anymore.

 

"Stupid things that bullion companies say"?

Oh man - you really don't want to be feeding me straight lines like that, do you?

The real stupidity comes not from the saying, but from believing the saying. "Stupid is as stupid does."

 

Not true. Yes, in cultures that grew out of Europe and the Middle East, you're correct. But indigenous peoples of the Americas never even CONCEIVED of using metals as money before the Columbian-initiated arrival and plunder. Quahog shell drilled beads, anyone?

Now gold and/or silver?...
Decorations? Items of worship? Sure. Money? No.

15 bonus points for anyone who knows the connection between quahog shell beads and 1960's-1970's baseball slugger Dick (aka Richie) Allen.

 

Actually, yes true.

Here's why. When gold started to be used as money, it became an "item of wealth". That's not to say it was universally so, across all cultures, nor did it have to be.

Here's an example: If an indigenous person took a thousand ounces of gold to Europe, would he be a wealthy person? Even if his family back home didn't recognize the potential of gold as a store of wealth?

If we're talking about thousands of years ago, then it wouldn't have been conceivable for a person to travel outside of the Americas, in which case those people could not have realized the value of their gold, but that doesn't mean their gold wasn't an "item of wealth" to someone. It's just that it wasn't "in play", so to say.

Yet another example. Would you say that a 1913 Liberty Head V Nickel is "an item of wealth"? Even if not everyone in the world values it the same? Even if not everyone in the world even recognizes that it could be worth more than $0.05?

The value of gold is similar to the value of any other commodity. It doesn't matter if EVERYONE, EVERYWHERE values said commodity in exactly the same way, as long as there are a sufficient number of people that do such that you can realize the stored wealth.

Yes, it's a long rant, but it's one of my peeves when people assume something has to be of identical value to EVERYONE to be of any value at all to anyone.

 

Again though that is true for absolutely everything. Everything has a value and everything can be sold somewhere so then everything is a store of wealth. None of this is unique to metals