Whats the deal with gold?

[Resonator]

I've been watching a fair bit of TV lately, especially CNN, and I noticed that more and more people are buying gold. Which means that no matter how much they sell, they'll be making a shit-ton of money somehow. Which means someone is buying gold from the front-end. Which means those people buying gold from the front-end are creating a funnel into one ultimate source.

So here's a question: When someone owns more gold than the government, what happens? Can they BUY the government if it's in so much of a pickle that the government itself needs a bailout?

 

[Chromatose]

Gold would have nothing to do with it, as the government long abandoned the gold standard. You would have to trade in the gold for dollars and then use the dollars in the exact same way current dollars could be used. So a better question would be, could Microsoft with its billions of dollars bail out the government?!

 

[Morganna]

Are you thinking of sending in your old gold jewelry?

Edit: @Reso

 

[Chromatose]

hahah reminds me of all those TV commercials

CASH FOR GOLD
CASH FOR GOLD
CASH FOR GOLD
CASH FOR GOLD

They send you an envelope and you just fill it with gold and mail it back, and then they send you whatever they think its worth! haha!

 

[Morganna]

LOL, I love the "And the gold kit is free!!!!" Better be free if I'm giving up my old gold jewelry.

 

[DreamNeonBlack]

HA I totally thought of that too.

yeah, the gold standard died a long time ago.

 

[Kvlt Wench]

You shall not crucify mankind upon a cross of gold!

 

[Captain Beard]

Why did no one post Jerry Seinfeld yet?

 

[vikk]

I've been watching a fair bit of TV lately, especially CNN, and I noticed that more and more people are buying gold. Which means that no matter how much they sell, they'll be making a shit-ton of money somehow. Which means someone is buying gold from the front-end. Which means those people buying gold from the front-end are creating a funnel into one ultimate source.

So here's a question: When someone owns more gold than the government, what happens? Can they BUY the government if it's in so much of a pickle that the government itself needs a bailout?

watch Zeitgeist

 

[Chromatose]

Why did no one post Jerry Seinfeld yet?

It popped into my head right this moment when I saw the thread title again so I opened the thread with glee looking forward to posting but then I saw this post and DAVID RUINED MY FUN

 

[Captain Beard]

 

[Lord Foul]

The economy is down and people are in dire need of liquid assets. There are a lot of people desperate enough to sell off their few pieces of good heirloom jewelry to make it through, and these businesses are taking advantage of that fact by offering cash. They pay a lot less than the items are worth, of course, just as you might at a pawn shop. Gold is a stable asset (in fact it gains in value in a down economy), so there is no real risk involved for the business offering cash. Since the payday loan scams mostly got shut down, this is just the latest form (and honestly this this particular business model probably dates back to ancient times).

 

[Craysh3]

GOOOOOLD! SWEET DELICIOUS GOOOLD!!! *dances a merry jig around a jug of gin*

 

[Lies and Perfidy]

You shall not crucify mankind upon a cross of gold!

thank you ms. lederer's class

 

[Liverslapper]

watch Zeitgeist

<3

 

[Resonator]

I was just bi-curious. Thanks for the input, Chromatose, it did help.

 

[Liverslapper]

I've been watching a fair bit of TV lately

Ya think? If I didn't do anything with my life and was jobless I would be doing the same.

 

[Resonator]

Well I'm on the computer or that, if I'm not out smoking weed with my buddies or drinking. It's quite the life

 

[Liverslapper]