Gold explained

[Into the Night]

Hmmm, you did seem to say it:


Again, gold is used as a store of value, but not as actual currency.

Gold is not currently used as a store of value.

 

[Into the Night]

In theory, you can transfer digital gold in accounts, but it is difficult, and rare.

There is no such thing as 'digital gold', Wally.

Both China and Iran are attempting to take Chinese Yuan, but there are problems with it. Gold would be even more problematic.

Iran doesn't use Chinese Yuan, Wally.
Gold is not problematic as a currency.

 

[Into the Night]

lol no, it isn't 'problematic'; they both have shit paper currencies. That Mighty BRIC scam is merely a deal to trade in gold disguised as a replacement for the dollar, and as we've seen no different than what is going on in many of our own states. I can use dollars nearly everywhere as well as gold, though, where the convenience factor dominates.

None of the BRICs are using gold as currency. They are all on fiat currency.

 

[Into the Night]

I really can, and have, and will keep doing so. There is nothing I can't buy with gold.

A loaf of bread at the local grocery store.

 

[Into the Night]

It is hard money, just a fact. That you don't know much about it doesn't make you right.

Gold is currently not used as a currency anywhere in the world (with one or two exceptions).

 

[Into the Night]

banker minion suckups like walt hate the concept of sound currency..


they like the totalitarianism of lie-money.

Bankers in the United States currently don't have a choice. They are REQUIRED to process fiat currency.

 

[Into the Night]

If you could print money, and force people to accept it, why would you want to use gold?

You can't force anyone to accept any type of money, Wally. People choose the currency they accept.

 

[Into the Night]

Interestingly enough, gold is more common in the solar system than it is on the surface of the Earth. The gold on Earth dropped to the center of the Earth, when the Earth was all a molten liquid. Then later, small amounts of gold were added to the surface, when astroids and comets hit the Earth. If you want to mine gold in this solar system, you would want to mine it from those astroids and comets where it is a thousand times more dense.

There is a real chance that during our lifetime, gold will become plentiful from astroid mining.

If aliens had space travel, they would mine it from places other than Earth.

You're bullshitting again, Sybil.

 

[Into the Night]

I am not going to dumb this down for you more. If you feel you have a good knowledge of the markets, you should invest based on it.

Asteroids are not a market, Wally.

 

[Into the Night]

Walter?

It appears that Never Right Walter is not the best source for information about gold.

He did not know that gold is used for currency in the US and that it is consumed.

Poor, poor Never Right Walter,

Gold is not currently used as currency in the United States (although it should be!).

 

[Walt]

you know the best ways to mine gold through space.

I would assume robots would do the best job of it. It costs a lot to get stuff up there, so you want to minimize that, but costs almost nothing to get stuff down from there, so maximize that. You have robots that can work metal, so it should be easy to make robots that make most of robots. There would still be a need for some parts made on Earth, but it should work well.

Is that 10 years away, or 100 years away? I think closer to 10 years, but I am not sure. It is certainly going to happen.

why do it?

Because gold can be sold for money? It is the reason we do many of the things we do in life. We do them to produce things that can be sold for money.

 

[Walt]

Several states recognize gold and/or silver as legal tender, meaning they can be used to settle debts and payments. These states include Arizona, Oklahoma, Utah, Wyoming, and South Carolina. Additionally, Louisiana, Kansas, Indiana, and Texas have also considered or passed legislation recognizing precious metals as ***currency.*** (Asterisks are mine)

Recognized and commonly used are two different terms.

 

[Bai Lan]

I would assume robots would do the best job of it. It costs a lot to get stuff up there, so you want to minimize that, but costs almost nothing to get stuff down from there, so maximize that. You have robots that can work metal, so it should be easy to make robots that make most of robots. There would still be a need for some parts made on Earth, but it should work well.

Is that 10 years away, or 100 years away? I think closer to 10 years, but I am not sure. It is certainly going to happen.


Because gold can be sold for money? It is the reason we do many of the things we do in life. We do them to produce things that can be sold for money.

dumbest shit ever.

go be ashamed.

 

[Bai Lan]

I would assume robots would do the best job of it. It costs a lot to get stuff up there, so you want to minimize that, but costs almost nothing to get stuff down from there, so maximize that. You have robots that can work metal, so it should be easy to make robots that make most of robots. There would still be a need for some parts made on Earth, but it should work well.

Is that 10 years away, or 100 years away? I think closer to 10 years, but I am not sure. It is certainly going to happen.


Because gold can be sold for money? It is the reason we do many of the things we do in life. We do them to produce things that can be sold for money.

it can sold for money because it has amazing usefulness, you fucking idiot.

 

[Walt]

dumbest shit ever.

go be ashamed.

Using technology to increase production is dumb?

it can sold for money because it has amazing usefulness, you fucking idiot.

Gold is not the most useful metal, but it is one of the rarer metals on the surface of the planet Earth.