Gold & Silver prices

S

schockergd

New member
Dec 11, 2008
3,282
30
0
Circleville Ohio
Both seem to be doing well, we're in the area of $34/$1750 or thereabout.

I'm curious how many here are involved either with investing in gold/silver or some sort of promotion. The reason I ask is I'm curious about the viability of private currencies. Bitcoin has done well ,but I'm curious how much of a demand there would be for a product like bitcoin but backed by gold & silver in a privately minted currency.
 


I know precious little about gold/silver trading but what I've read tells me that there is more to the value of gold then just... the fact that it's gold. Quality and ease of liquidation for example. Be difficult to account for that in a service that's intended to be convenient, no? Again I don't know my asshole from my elbow with gold and silver so maybe someone more adept can clarify.
 
dogfighter said:
I know precious little about gold/silver trading but what I've read tells me that there is more to the value of gold then just... the fact that it's gold. Quality and ease of liquidation for example. Be difficult to account for that in a service that's intended to be convenient, no? Again I don't know my asshole from my elbow with gold and silver so maybe someone more adept can clarify.
Click to expand...


The most interesting thing to me is that gold and silver have always been constant forms of currency throughout history.

One ounce of gold today has similar value to what it did 100 years ago, 500 years ago even 1000 years ago. You can't say that about all the other forms of currency that have been used in the past. Sure, food has been used before (grains, corn ,ect) but none of really has held up well compared to gold & silver.

They also resist inflation quite well over history too.
 
There is viability to what you're saying but there isn't legality. It is illegal to practice commerce outside of FRNs. We can hold other money like gold and silver, but we can't actually use it in everyday life because the government doesn't want us to. Private currencies are 100% viable and would be one of the best ways to fix our economy, but super criminals don't want that. So they force us to use their currency that they can control.

Free Markets 101 is competitive money. We don't have competitive money. We aren't even allowed what to choose for money. We have algorithms in places to strip us of our wealth through inflation via the Fed. So yeah, we can buy gold and silver and protect our purchasing power, but we can't actually practice commerce with it and do away with the parasites completely. We need to change the laws to allow us to legally use whatever form of money we want. This way our energy will not be stripped of us through inflation and deceptive banking practices practiced by our super criminals.

Gold and silver is easy to use. You have a bank that issues receipts for gold and merchants accept these receipts for payments. Kinda like how Visa and Mastercard are accepted. In this example Visa would be a private bank and when you buy something with your Visa card it would take that money out of your individual account. There would be a few main companies that everyone uses, say Visa and Mastercard, and there would be room for other banks to grow a userbase depending on the needs. We don't need to carry gold coins. It can be done how it is now with credit cards. Except the credit card isn't hooked to a government regulated bank dealing in controlled, Federally-issued fiat currency; it is hooked to a private company that holds your gold physically in their secure location. Merchants choose to accept your payments because they know the banks, Visa and Mastercard, are good for their money. They know that these guys don't inflate their currency and that they don't do all the BS the government does. If Visa does start inflating their currency people switch to Mastercard. If they both start inflating people switch to another one. The most honest and highest quality company will inherently always be the most popular and most accepted. Right now we can't opt out of using inflatable fiat provided by our government. With private money we could.
 
Last edited:
Isn't it also now illegal to travel outside of the US with gold? Or a certain amount of gold? It's a law they made sometime within the last 20 or 30 years I think.
 
slayerment said:
There is viability to what you're saying but there isn't legality. It is illegal to practice commerce outside of FRNs. We can hold other money like gold and silver, but we can't actually use it in everyday life because the government doesn't want us to. Private currencies are 100% viable and would be one of the best ways to fix our economy, but criminals don't want that. So they force us to use their currency that they can control.
Click to expand...

That's a load of shit. What law is there against me selling you my car for that hunk of gold?
 
Don't know shit about Bitcoins, but involved in selling gold. It has shown consistent growth over the years and it was good to see its value recently take over platinum and rhodium, but it's a concern that it had its highest value day back on the 6th of September and it hasn't been able to catch up. It's looking good at the moment, but can see it going tits up again later in the year. Wouldn't be too reliant on it as an investment opportunity atm.
 
tspesh said:
That's a load of shit. What law is there against me selling you my car for that hunk of gold?
Click to expand...

On a small scale we can do it, sure. But if you try practicing this on a large scale they'll end your fun real fast.

Let's say you work for me for a year and rather than paying you $100,000 I give you 60 ounces of gold instead. How am I now taxed? How are you taxed? We just did a transaction that isn't traceable. I didn't use legal tender to pay you. How do we pay for the deadbeats that want their Social Security? There is no record of me paying you. We are operating outside of the system. Taxes are collected in dollars, not ounces of gold. You don't have any dollars to be taxed on. Exchange it for dollars and then pay taxes? Why? You would rather just hold it and not pay taxes. What if everybody in the US payed each other this way? How does the government collect taxes? Nobody is using dollars. It takes away the power of the people behind government and they know it. This is why.
 
slayerment said:
On a small scale we can do it, sure. But if you try practicing this on a large scale they'll end your fun real fast.

Let's say you work for me for a year and rather than paying you $100,000 I give you 60 ounces of gold instead. How am I now taxed? How are you taxed? We just did a transaction that isn't traceable. I didn't use legal tender to pay you. How do we pay for the deadbeats that want their Social Security? There is no record of me paying you. We are operating outside of the system. Taxes are collected in dollars, not ounces of gold. You don't have any dollars to be taxed on. Exchange it for dollars and then pay taxes? Why? You would rather just hold it and not pay taxes. What if everybody in the US payed each other this way? How does the government collect taxes? Nobody is using dollars. It takes away the power of the people behind government and they know it. This is why.
Click to expand...

I don't understand how it would be different than paying someone $100,000 in straight cash. Obviously have you have payroll in a business, and you'd list the value of the gold at the time that you paid your employee. Not rocket science.
 
Last edited:
Rage9 said:
I don't understand how it would be different than paying someone $100,000 in straight cash. Obviously have you payroll in a business, and you'd list the value of the gold at the time that you paid your employee. Not rocket science.
Click to expand...

For the most part it wouldn't be different. And this is why paying people under the table is also illegal (on a large scale).
 
I was gonna buy 20k of physical silver when it was hovering around $10 mark but my father talked me out of it. Lesson learned to trust my own judgement and not that of others.

I don't think bitcoin will ever go mainstream and is too volatile for me to consider investing a serious amount of money in it.
 
slayerment said:
There is viability to what you're saying but there isn't legality. It is illegal to practice commerce outside of FRNs. We can hold other money like gold and silver, but we can't actually use it in everyday life because the government doesn't want us to. Private currencies are 100% viable and would be one of the best ways to fix our economy, but super criminals don't want that. So they force us to use their currency that they can control.

Free Markets 101 is competitive money. We don't have competitive money. We aren't even allowed what to choose for money. We have algorithms in places to strip us of our wealth through inflation via the Fed. So yeah, we can buy gold and silver and protect our purchasing power, but we can't actually practice commerce with it and do away with the parasites completely. We need to change the laws to allow us to legally use whatever form of money we want. This way our energy will not be stripped of us through inflation and deceptive banking practices practiced by our super criminals.

Gold and silver is easy to use. You have a bank that issues receipts for gold and merchants accept these receipts for payments. Kinda like how Visa and Mastercard are accepted. In this example Visa would be a private bank and when you buy something with your Visa card it would take that money out of your individual account. There would be a few main companies that everyone uses, say Visa and Mastercard, and there would be room for other banks to grow a userbase depending on the needs. We don't need to carry gold coins. It can be done how it is now with credit cards. Except the credit card isn't hooked to a government regulated bank dealing in controlled, Federally-issued fiat currency; it is hooked to a private company that holds your gold physically in their secure location. Merchants choose to accept your payments because they know the banks, Visa and Mastercard, are good for their money. They know that these guys don't inflate their currency and that they don't do all the BS the government does. If Visa does start inflating their currency people switch to Mastercard. If they both start inflating people switch to another one. The most honest and highest quality company will inherently always be the most popular and most accepted. Right now we can't opt out of using inflatable fiat provided by our government. With private money we could.
Click to expand...

So it's illegal to barter inside the US?

If it's illegal to barter inside the US, then how come the IRS requires a 1099 for barter trades?


The simple answer is : It's not illegal to barter or to trade wampum , silver or gold in the United States, the government just wants to be able to tax it when there's a profit being made.

The liberty dollar is a great example of something people are confused on and attribute the whole deal to evil government powers. In that case the guy was making coins that were EXTREMELY similar to government issued 'Statue of Liberty' coins that have been minted since 1986 that are marked "Dollar". The liberty dollars were marked "Liberty dollars" While the actual US version was marked "Liberty" and "Dollars" creating a EXTREMELY confusing situation as far as the general public was concerned. In this example , if "Liberty dollars" were renamed "Ron Paul GoldBucks" and the US dollar symbol ($) was changed for some ficticious symbol, say a û or a É it would have been perfectly legal.

APMEX prints their own private currency in unfathomable amounts made for trade, completely in transparent view of the united states government without a problem.

Also, another awesome example is private casinos in the US. Did you know that many casinos have operated their own private currencies for 30+ years? At one time they were fractionally backed by gold and silver, however when the prices rose they were unable to continue mintage and rather than debase, stopped the printing. You can regularly find US Casino token currency in excess of $350 US dollar value that was privately minted. I recently made about $350 by going to a local auction and buying the silver currency when no one knew what it was.
 
You guys are missing the point. True bartering doesn't have taxes. True bartering doesn't require licensing. True money let's you do whatever the hell you want to do. Yes, we can do all of these things in America... so long as we still operate in their system of taxes, socialism and control. All of these examples you guys give are within the game of US money. If we don't want to play that game and opt out we can't. Otherwise I will stop paying taxes right now and my whole business will be run outside of the system in my own system of money. Private money means no taxes. If I have to pay taxes on my gold transaction or a bartering deal then it isn't private money, it is still government. I don't want to use gold and silver and then pay taxes on it like a slave. I want to use gold and silver and just move on with life. I can't do this. The government wants their piece. It is the nature of government to want their piece. This is why governments all issue their own currency. This is why private money is a problem for people who like government -- it breaks down the very foundations of government itself.
 
schockergd said:
I'm curious about the viability of private currencies. Bitcoin has done well ,but I'm curious how much of a demand there would be for a product like bitcoin but backed by gold & silver in a privately minted currency.
Click to expand...
If you could somehow tie physical precious metals to a peer-to-peer currency then my friend, that would be the schiznit. I believe all of the world governments who depend on their own money would quickly collapse.

It isn't technically very feasible though, is it? Peer-to-peer currency is designed to be unaccountable... And there is nothing more accountable than the physical.
 
You must log in or register to reply here.
Top Bottom