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Reputation Activity
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Kman got a reaction from MickB in Why is gold so precious?
It's all about money
Lets say for every hour you work you get one pebble
That pebble represents an hour of your life you gave up, you can swap it for food or if you save up enough pebbles you can swap them for larger items
Whats good about the pebble is you don't have to spend it right away, you can work your whole life until you're not as physically capable, retire and still have thousands of hours of work saved up in pebbles
To have a civilised society you need money to facilitate trade and to be able to store and log your hard work
You can't use pebbles of course because you can find them anywhere, what's not just anywhere? gold
We can all agree we need money and we can all agree gold is perfect for it, that's why it has value, the value is the tool of money
Its obvious why oil has value
It's obvious why electric has value
Money is just as important to humanity that's why gold has value
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Kman reacted to Bigmarc in Why is gold so precious?
I think a different set of aliens planted something in my wife's genes to horde plastic cr*p from Amazon.
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Kman got a reaction from adamantio999 in Why is gold so precious?
It's all about money
Lets say for every hour you work you get one pebble
That pebble represents an hour of your life you gave up, you can swap it for food or if you save up enough pebbles you can swap them for larger items
Whats good about the pebble is you don't have to spend it right away, you can work your whole life until you're not as physically capable, retire and still have thousands of hours of work saved up in pebbles
To have a civilised society you need money to facilitate trade and to be able to store and log your hard work
You can't use pebbles of course because you can find them anywhere, what's not just anywhere? gold
We can all agree we need money and we can all agree gold is perfect for it, that's why it has value, the value is the tool of money
Its obvious why oil has value
It's obvious why electric has value
Money is just as important to humanity that's why gold has value
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Kman got a reaction from MetalMandible in Why is gold so precious?
It's all about money
Lets say for every hour you work you get one pebble
That pebble represents an hour of your life you gave up, you can swap it for food or if you save up enough pebbles you can swap them for larger items
Whats good about the pebble is you don't have to spend it right away, you can work your whole life until you're not as physically capable, retire and still have thousands of hours of work saved up in pebbles
To have a civilised society you need money to facilitate trade and to be able to store and log your hard work
You can't use pebbles of course because you can find them anywhere, what's not just anywhere? gold
We can all agree we need money and we can all agree gold is perfect for it, that's why it has value, the value is the tool of money
Its obvious why oil has value
It's obvious why electric has value
Money is just as important to humanity that's why gold has value
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Kman got a reaction from GoldenGriffin in Why is gold so precious?
It's all about money
Lets say for every hour you work you get one pebble
That pebble represents an hour of your life you gave up, you can swap it for food or if you save up enough pebbles you can swap them for larger items
Whats good about the pebble is you don't have to spend it right away, you can work your whole life until you're not as physically capable, retire and still have thousands of hours of work saved up in pebbles
To have a civilised society you need money to facilitate trade and to be able to store and log your hard work
You can't use pebbles of course because you can find them anywhere, what's not just anywhere? gold
We can all agree we need money and we can all agree gold is perfect for it, that's why it has value, the value is the tool of money
Its obvious why oil has value
It's obvious why electric has value
Money is just as important to humanity that's why gold has value
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Kman got a reaction from KDave in Why is gold so precious?
It's all about money
Lets say for every hour you work you get one pebble
That pebble represents an hour of your life you gave up, you can swap it for food or if you save up enough pebbles you can swap them for larger items
Whats good about the pebble is you don't have to spend it right away, you can work your whole life until you're not as physically capable, retire and still have thousands of hours of work saved up in pebbles
To have a civilised society you need money to facilitate trade and to be able to store and log your hard work
You can't use pebbles of course because you can find them anywhere, what's not just anywhere? gold
We can all agree we need money and we can all agree gold is perfect for it, that's why it has value, the value is the tool of money
Its obvious why oil has value
It's obvious why electric has value
Money is just as important to humanity that's why gold has value
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Kman reacted to Tn21 in Why is gold so precious?
Mining gold and silver is also very energy intensive. Use of oil, water, labour etc all have to be factored in.
Great video fyi
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Kman reacted to LawrenceChard in Why is gold so precious?
"I've been buying gold for a number of years now"
If you ask yourself why, it may answer some of the other questions.
"due to rates on fiat currency being so low."
I don't understand what you mean, interest rates?
"I've seen gold go from around £950 up to a high of around £1,560 within the last 2 or 3 years."
Sure, and dropped back down to about £1230 currently. As people were stampeding to buy at £1500 to £1600, it sounds relatively cheap.
"Isn't it only a metal and nothing more?"
No, it can be a liquid above 1064.18 °C, and a gas at above 2970 °C.
What else do you want?
"Can you only make jewellery and coins from it?"
No, read https://en.wikipedia.org/wiki/Gold
"Why is it so precious?"
See #1
Most of the other 7 billion people probably think the same.
Remember, there are only 2 metallic elements which are not grey coloured, one is copper, the other is gold.
When you say "precious", do you mean "valuable"? Supply and demand.
"Why are banks buying it up in vast quantities?"
Are they?
"Why is there a world gold council?"
Why not?
Read https://www.gold.org/, starting at
Who we are
What we do
About gold
I noticed you had "world" in bold. I guess that Scunthorpe Gold Council doesn't sound as impressive. 🙂
Now, who wants to know about the meaning of life?
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Kman reacted to Spark268 in Best silver memes
This is the toll that silver stacking has taken on our Jennifer Aniston
(credit: Reddit WSS)
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Kman reacted to MancunianStacker in Gold Monitoring Thread $ (USD) only
Waiting for Wonger to turn up shortly....
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Kman got a reaction from Swampy in Gold Monitoring Thread £ GBP only
I still think we're in the period highlighted, something will happen to kick gold on to the next leg up, probably come down more in the meantime
It's that or the world just opens up out of covid like nothing happened, all the jobs come back, all the new heavy debt doesn't matter, all the businesses lost and struggling just spring back to flourishing
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Kman reacted to richatthecroft in Today I Received.....
Another eBay win arrived today, a 1893 Maundy Set presented in its dated case. Very nicely toned and have not been messed around with over the last 128 years. What a sweet little Set of Silver coins these are.
And my outstanding Royal Mint order is now complete.
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Kman got a reaction from Jvw in Gold Monitoring Thread £ GBP only
I still think we're in the period highlighted, something will happen to kick gold on to the next leg up, probably come down more in the meantime
It's that or the world just opens up out of covid like nothing happened, all the jobs come back, all the new heavy debt doesn't matter, all the businesses lost and struggling just spring back to flourishing
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Kman got a reaction from HelpingHands in Gold Monitoring Thread £ GBP only
I still think we're in the period highlighted, something will happen to kick gold on to the next leg up, probably come down more in the meantime
It's that or the world just opens up out of covid like nothing happened, all the jobs come back, all the new heavy debt doesn't matter, all the businesses lost and struggling just spring back to flourishing
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Kman got a reaction from Foster88 in Gold Monitoring Thread £ GBP only
I still think we're in the period highlighted, something will happen to kick gold on to the next leg up, probably come down more in the meantime
It's that or the world just opens up out of covid like nothing happened, all the jobs come back, all the new heavy debt doesn't matter, all the businesses lost and struggling just spring back to flourishing
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Kman reacted to AndrewSL76 in Three graces coin
I consider myself extremely fortunate to have coins that are about as perfect as I think they can be.
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Kman got a reaction from Goldfinga in Three graces coin
Just as a small aside I'm descended from Henry VII
My grandpa was part of a Scottish clan which someone set up a genealogy page for, you can trace right back from my grandpa to Henry VII who married his daughter Margaret to James IV of Scotland
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Kman got a reaction from Martin1983 in Gold Monitoring Thread £ GBP only
This is TLT (30 year US bonds) and Gold
If bond yields continue to go up expect gold to come down
I wouldn't be shocked if it comes down another 5-10% in the next few months but who knows, will depend on the new normal - how well the vaccines seem to work and how optimistic people are on global economy recovery
I personally think at some point this year an event will happen or a signal will appear that things aren't going to get back on track and that's when gold will kick on but who knows
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Kman got a reaction from Drawga in Gold Monitoring Thread £ GBP only
This is TLT (30 year US bonds) and Gold
If bond yields continue to go up expect gold to come down
I wouldn't be shocked if it comes down another 5-10% in the next few months but who knows, will depend on the new normal - how well the vaccines seem to work and how optimistic people are on global economy recovery
I personally think at some point this year an event will happen or a signal will appear that things aren't going to get back on track and that's when gold will kick on but who knows
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Kman got a reaction from KDave in Gold Monitoring Thread £ GBP only
This is TLT (30 year US bonds) and Gold
If bond yields continue to go up expect gold to come down
I wouldn't be shocked if it comes down another 5-10% in the next few months but who knows, will depend on the new normal - how well the vaccines seem to work and how optimistic people are on global economy recovery
I personally think at some point this year an event will happen or a signal will appear that things aren't going to get back on track and that's when gold will kick on but who knows
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Kman got a reaction from whitesands1 in Gold Monitoring Thread £ GBP only
This is TLT (30 year US bonds) and Gold
If bond yields continue to go up expect gold to come down
I wouldn't be shocked if it comes down another 5-10% in the next few months but who knows, will depend on the new normal - how well the vaccines seem to work and how optimistic people are on global economy recovery
I personally think at some point this year an event will happen or a signal will appear that things aren't going to get back on track and that's when gold will kick on but who knows
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Kman got a reaction from OldNick in Gold Monitoring Thread £ GBP only
This is TLT (30 year US bonds) and Gold
If bond yields continue to go up expect gold to come down
I wouldn't be shocked if it comes down another 5-10% in the next few months but who knows, will depend on the new normal - how well the vaccines seem to work and how optimistic people are on global economy recovery
I personally think at some point this year an event will happen or a signal will appear that things aren't going to get back on track and that's when gold will kick on but who knows
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Kman got a reaction from dicker in Gold Monitoring Thread £ GBP only
if you don't hold it you don't own in 💯