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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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1197288 No.1197288 [Reply] [Original]

>gold has any real value

>> No.1197295

>>1197288
Clearly you know nothing of the electronics industry.

>> No.1197305

>>1197295

I bet you think industrial companies will be buying diamond jewelry too

>> No.1197315

>>1197295
Oh it can make a cable yea that's so valuable

>> No.1197359

>>1197315
silver is the best conductor gold is just better for contacts because it does not oxidize.

but they are both required to make all modern electronics.

>> No.1197367

If China (somehow) makes a gold backed currency, how fucked will USA be?

Will it cause a collapse of the economy? World war 3?

>> No.1197369

>>1197288
>cash has any real value

>> No.1197374

>>1197359
do you guys think one could squeeze out any significant amount of these metals from electronic waste?

>> No.1197377

>>1197374
you can do it but the process is difficult and the yield is terrible

>> No.1197381

>>1197359

> but they are both required to make all modern electronics.

Being replaced by copper.

>> No.1197382

>>1197381
if you want shit quality electronics that overheat have horrible life expectancy and slow then yes.

>> No.1197387

>>1197382
i just looked at copper it's not actually that bad.
the oxidation is probably requires gold plating nevertheless.

>> No.1197394

>>1197367
Pretty fucked because we would lose our status as the global currency and our dollar would then be devalued a ton

>> No.1197398

It's fucking rare and shiny and largely non-reactive, fuck yeah noble metals. We, humanity, will always love it. Go fuck yourself

>> No.1197499

>>1197288
There are very few things that are intrinsically valuable, and they're non-corporeal. My list, non-exhaustive and in no particular order:
>Life/health
>Safety/security
>Comfort/happiness
>Knowledge/intelligence
>Novelty/curiosity

In practice it is extremely convenient to arbitrarily designate other items- whether that's gold, fiat banknotes, numbers in an account- as intermediary values for exchanging our goods and services for the ones we need to fulfill the above. As long as everyone agrees to accept these items for payment, it works out very nicely.

There is no truly universal agreement to accept any one kind of item, but gold is as close as it gets. It has been accepted by almost every society throughout history, it's known to be rare, and it's impossible to profitably make more of it (and that is likely to remain true for a very long time, perhaps forever).

>> No.1197507

>>1197499
How bout energy or food nigga

>> No.1197511

>>1197507
Food is energy you fucking retarded piece of shit. Kill yourself and never post again. God damn I hate you.

>> No.1197523

>>1197507
I would consider a base level of food, and the energy it produces, to be part of "Life/health". Same for water and the other substances we need to live. Luxury food would be "Comfort/happiness".

>> No.1197541

>>1197367
>If China (somehow) makes a gold backed currency, how fucked will USA be?

Not as fucked as China would be. A gold backed currency would be disastrous for them.

>> No.1197558

>>1197511
It makes me happy to see u so upset
>>1197523
I mean oil

>> No.1197565

>>1197541
Please explain. China sure seems to like gold a lot for a country that doesn't want a gold backed currency

>> No.1197574

>>1197565

China is pushing for the SDR to be utilized as the world reserve currency, which in of itself is a basket containing the USD, EUR, YEN and now the Yuan itself.

Gold could be a component of the basket.

From then on, all China would have to do is run consistent balance of trade surpluses to end up with a pile of treasure.

>> No.1197636

>>1197288
>he doesn't get gold teeth fillings

>> No.1197649

Well, Yellen and Obongo can't print more of it. That's a value to some.

>> No.1198185

>>1197369
>>1197367
>>1197394

Retard alert.

>> No.1198348
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1198348

>>1197288
>saving pictures of black men to your computer

>> No.1198396

>>1197511

>electricity and gas are the same thing as a burger

How about you think for 3.5 seconds before you make a frothing shitpost?

>> No.1198494

>>1198396
you can turn a hamburger into methane and electricity in 3-7 hours tho.

>> No.1198511

>>1197288
a substance created in diminutive quantities, during rare and cataclysmic astronomical events, and used in various complex systems for its unique properties, shouldn't be valued. There's nothing like gold except gold.

>> No.1198546

>>1198511
do you know how much gold is in the earth core? what if a supervulcano erupts and shits out a lake of gold?

>> No.1198555

>>1198546
Literally will not happen. The core is so far from the surface you would have to obliterate the earth to get the dense as fuck gold away from the core. Asteroid mining is a legitimate fear of supply boom, but we're far away from the instruments necessary to scan for gold.

>> No.1198558

>>1198555
(On the scale needed)

>> No.1198564

>>1198555
well magma flows and it comes up from the hot depths to cool off near the crust.

the earths solid crust is so thin that an eggshell is thick armor compared to it (in perspective).

underneath the crust shittons of gold. if a serious magma chamber erupts to the surface life does not stop sure it can throw a wrench into the civilization we have going but it will not be an end of times. however the amount of gold (and silver and whatnot) that can potentially get to the surface is mindblowing in the scale of our little economy.

>> No.1199776

>>1197288
It's a very finite resource.

>> No.1199784

I mean, it doesn't really but very few things has.
Gold has reliably been used for so long it's pretty secure.
I guess you could invest in foodstocks and shit like pepper and alcohol, but they are all much more perishable and not really a good substitute.
Decent for when the zombie apocalypse arrives though.

>> No.1199790

>>1199784
>Decent for when the zombie apocalypse arrives though.
That's literally the only scenario where gold could realistically exchange places with fiat currency, and yet currency of all forms are useless in the very same scenario; nobody will trade guns, ammunition, food, water, shelter, clothing, transport or gasoline for a shiny metal once shit hits the fan.

TL;DR: gold will never be the dominating currency ever again, fiat currency is superior in too many ways.

>> No.1199844

>>1197288
work work work work work work

>> No.1199870

>>1197288
Currently it's limited in supply.

This will change in roughly a decade.

Private space industries will mine the shit out of any gold asteroid and crash the market.

>> No.1200078

>>1199790
this is why I stack toilet paper and honey instead of metals
in a shtf people are going to want a "home comfort" and toilet paper is one of them
and as long as honey stays edible indefinitely as well as being an antibacterial

>> No.1200238

>>1200078
Won't the glucose break down over time?

>> No.1200473

>>1197288
>green plant fabric is equivalent with retrogressive liability

>> No.1200528

>>1197288
the point of precious metals (or any precious material) is when the majority believes an object holds value, not what the minority think