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<p>[QUOTE=&quot;pairunoyd, post: 1491597, member: 17595&quot;]It&#039;s a use insofar as an option for protecting your wealth. If the current regime is diluting fiat money, then (and always imo) it&#039;s a good idea to save gold and silver. Just like one might save dollars, you need an accumulation of wealth in order to not only HELP secure your future, but also in order to create additional wealth. You can&#039;t create more wealth if you don&#039;t accumulate wealth, ie defer present consumption. </p><p><br /></p><p>Nowadays thats a foreign concept. It&#039;s especially made foreign because people observe what the government and federal reserve does, which is to bypass the saving process and simply print &#039;money&#039;. But this printing of money simply takes from the value of the dollars that are currently held, so it&#039;s not that the fed creates wealth by producing desired goods and services and then securing those profits for further production, rather it is by taking wealth from usl. This diminishes the power of each individual to determine his own destiny. It encourages consumption and it discourages innovation because as time goes by, it becomes more and more necessary to pool your dollars with wherever the fed and the politicians want it to go, ie bubbles. However, those friends and lobbyists that receive these new dollars first, will get pre-inflationary goods and services. After they&#039;ve bid things up, then those receiving dollars lastly will have a higher cost of living/doing business. </p><p><br /></p><p>Ever wonder why the fed doesnt simply increase everyone&#039;s dollars 2 fold, 10 fold or 100 fold? Afterall, wouldnt it help the economy if my net wealth increased 100 times?&nbsp; They dont do it because they know that adding paper or keying in additional numbers doesn&#039;t create wealth, it just means more dollars chasing fewer goods. So in order to avoid making it obvious that printing more money doesn&#039;t create more wealth, like they say it does, they confuse the process and make it sound scientific by using a bunch of financial mumbo jumbo, jive talk. As these monopolists and their protectors, the US government, aggrandize more wealth and power, they introduce more and more inefficiency into the markets.</p><p><br /></p><p>Prices are there for a reason. They provide us with information. They help the entrepreneur calculate the most efficient (profitable) use of resources. When you can print money out of thin air, there&#039;s no need for efficiency. The amount of work that goes into keying a trillion dollars into a computer is next to nothing, yet it can have power over millions of people&#039;s labor and resources. Also, not only does the minuscule cost of money production tend to encourage inefficient activity, but those that are exercise such an immense power can&#039;t possibly comprehend the wants of society. One man or even a million men can&#039;t possibly know what each person wants. The most efficient way to create wealth is to harness the nature of man for the betterment of others.</p><p><br /></p><p>Man is self-interested. Above all, he cares most about himself. You think that you care more about your children than yourself? Let&#039;s say there&#039;s a ****. An everlasting, burning, horrific ****. Let&#039;s say your child has been damned to **** and you&#039;ve been invited to heaven. Would you take your child&#039;s place in ****? You might try it out, but once your in ****, I can guarantee you that no matter how much you love that child, if you were given the option, you&#039;d come right back out of there while they dump your child back into the fiery pit.</p><p><br /></p><p>And what about my care for others? Right now I&#039;m sitting on my couch typing and watching tv. I&#039;m thinking about what dvd I&#039;m going to watch next. In the mean time, there&#039;s millions of people around the globe in dire need. There are charities set up that can assuage these circumstances, and I know this. Yet I sit here and prioritize my movies over the life of starving children. I do give $35/mth to world vision. I &#039;adopted&#039; an 11 yr old girl name Oumma. I encourage you to give to those most in need as well. Yet, theres a lot more that I could do. </p><p><br /></p><p>Now imagine harnessing such a force, a force like man&#039;s self-interest. Like the old example of the pencil. A complex arrangement of self-interested actors organically organize their self-interests in the production of the pencil. No one individual cares that much about a pencil. Many involved in the process don&#039;t even realize that they&#039;re contributing to the production of a pencil. Many know and don&#039;t care. All they want is to enrich themselves and that desire prompts many of us to do things for 40-80 hrs/wk that we&#039;d rather not do. You can&#039;t sidetrack this bureaucrats or bankers. And this powerful market doesn&#039;t somehow stop at the production of money. Money produced in the course of self-interest is the way to go, not creating a monopoly of money production. Gold and silver is that free-market money but it has been repressed by those money monopolists and their thuggy gang of protectors, the government. </p><p><br /></p><p>Personally, I not only hold gold and silver in the hopes that I&#039;ll get more wealth or in the hopes that I&#039;ll protect myself in case of a monetary regime change or volatility, I hold it because I hate the monopoly of money. I hold it because I wish others would do the same. I have my limits. I&#039;m not going to just hold that and not hold federal reserve notes. I have to pay my taxes on FRNs and most people are going to demand FRNs in transactions. But I will sacrifice a fair amount, which means that I plan to hold it and keep buying even if it turns way south, but I have my limits. Gold and silver aren&#039;t my highest priorities. I don&#039;t mean to judge anyone, but I do wish people would tend to favor investing in things that tend to give society more freedom. But it&#039;s a personal call. Just like me donating $35/mth to Oumma instead of $70/mth. Or me buying some dvd&#039;s instead of feeding another hungry mouth. </p><p><br /></p><p>Long live free-market MONEY! <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p><br /></p><p>BTW, in all seriousness, even if you think gold and silver bugs are a pathetic bunch, I truly encourage you to hold at least 10% of your wealth in gold. I also suggest you add to that food, water, etc. I think it&#039;s very important to always be prepared for societal volatility. If the economy crashes and most your wealth is in paper or dollar denominated investments, gold is a good insurance plan. Usually, if the paper used by a society fails, gold will act as money and it&#039;s value will go way up, restoring your lost wealth. Nothing is fool-proof. We&#039;re all going to die, but even the most pro-paper, anti-gold financial planners to begrudgingly mention having 10% in gold as an insurance policy. But remember, it&#039;s insurance, so if the price goes down, it doesn&#039;t matter. It&#039;s only there in case the paper economy collapses. Also, gold has an advantage over real estate and other hard assets. If there&#039;s a breakdown in society, you can easily hide or transport gold, whereas things like houses or land can be easily taken. This isn&#039;t weirdo talk. Remember, it&#039;s just insurance against bad things. We never imagine getting cancer. Societies never imagined being ravaged by war. Gold and silver have a place when it comes to insurance or self-made safety nets.[/QUOTE]</p><p><br /></p>

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