I think gold is selling for WAY more than its worth right now, and that silver is a much better investment. Am I right, or is OP still a faggot?
Also precious metals general
>>1166102
yes, according to /biz/ gold is worth only 10 cents per ounce.
>>1166116
those faggots dont even realize the dollar is based on nothing, they still worship it kek
>>1166125
look son a dumbass
>>1166141
prove me wrong, dumbass
>>1166102
Doesn't matter if it's over inflated unless you have the wealth to ride out the wave. It will stay inflated for awhile, as institutional investors are worried about the fed.
>>1166156
>then
USD is backed by the faith and credit of the United States of America since we went off the Gold Standard. The Gold Standard Act of the United States was passed in 1900 and established gold as the only standard for redeeming paper money, stopping bimetallism.
>now
There is no backing for the dollar, or any other modern currency. The value of money in the modern world is based on the belief that it has value. This may seem strange but consider that your bank account doen't contain any actual money, it is just a number that the bank keeps in a computer file. Trillions of dollars, Euros, Yen etc. exist as nothing more than computer records.
TL;DR
Nowadays, USD is based on nothing. Just files in a computer.
Like bitcoin, or any other crypto.
>>1166165
tell him not me, fellow stackerbro <3
>>1166102
it's undervalued . there are hundreds of times more paper claims to gold than what is actually available
>>1166165
You're missing one crucial point. The most powerful government in the world right now controls the value of USD through policy. Inflation rate has been steadily low for the last few decades. Bitcuck, on the otherhand, has no central authority to stop volatility and crashes in value. It is left up to the whims of chinese mining conglomerates, shady exchanges who manipulate the market (mtgox), trading bots who cuck the price, and neckbeard whales who just happened to turn their graphics cards into mining bitcuck when nobody else really knew about it.
>>1166178
>The most powerful government in the world right now controls the value of USD through policy.
a corrupt and failing empire
>Bitcoin has no central authority
indeed, it's a feature
>shady exchanges who manipulate the market
because that totally doesn't happen with usd
>trading bots
because that totally doesn't happen with usd
>>1166172
actually dollars are no longer paper claims to gold, or anything for that matter. they're just dollars
https://www.youtube.com/watch?v=iFDe5kUUyT0
>>1166181
>a corrupt and failing empire
The most powerful country in the world right now. When another more powerful country comes along I will transfer my wealth to that currency, not get cucked by bitcuck.
>indeed, it's a feature
Its the biggest failure. The volatility means it will never be taken seriously as a currency since it is a shit store of value.
>because that totally doesn't happen with usd
Exactly. USD value can not be manipulated by the free market. I'm glad you picked up on that. Makes me think there might be hope for you yet.
>>1166182
He was probably referring to 'paper' gold traded on the commodities exchanges.
>>1166102
What makes you think it's way over valued or that silver is under valued?
>>1166156
The dollar is backed by everyone who will accept it as payment. What is gold backed by?
>>1166181
Wew lad
People been saying that for years though
>>1166207
Silver's historical price, averaged out over the last 100 years is about $18 per ounce, and as we know silver is selling for ~$15.20 right now, so IMHO its a good time to buy.
Gold's is MUCH less than what its been going for since 2004 or so.
>>1166418
Thats a good point, TBQHfam.
Gold is still backed by international history, going back thousands of years as currency. The dollar has survived (although I wont say has done well) for ~150 years at best.
>>1166182
>this mentally retarded
>>1166418
>What is gold backed by?
5000 years of history
>>1167737
>licking reserve boots this much
OP here, so was that a yay or nay on buying the gold?
>>1166125
>the dollar is based on nothing
so is gold dude
you can't eat it
