OIL VS GOLD

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Musicus

Musicus

Senior Member
#2
Oct 26, 2017
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#2
calibob said:
Do you believe that the oil standard will replace the gold standard?
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The gold standard was done away with in 1973 in the US. The US dollar has been a fiat currency since then, and I doubt that will change any time soon. But as far oil goes as a trading standard on a global market, who knows? On some levels I think it already is.
 
M

mcubed

Senior Member
#3
Dec 20, 2013
1,449
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#3
I'm actually one of those people that believes in buying silver... Probably silly but I do think at a later time it will bring the highest return and cheaper than gold for now.
 
calibob

calibob

Sinner saved by grace
#4
May 29, 2018
8,268
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#4
I know about fiat currency. I think it's ironic naming junk money after junk cars. I'm a muscle car era, professional auto mechanic.

Except for electronics, most precious metals are relatively useless now I think the book of revelations shows clearly that monet as we know it today will be worthless. Don't spill the oil!
 
Musicus

Musicus

Senior Member
#5
Oct 26, 2017
314
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#5
mcubed said:
I'm actually one of those people that believes in buying silver... Probably silly but I do think at a later time it will bring the highest return and cheaper than gold for now.
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Silver may not bring the highest return, but out of the 4 commodities metals (gold, silver, platinum, palladium), silver is the most stable I think. If I had the $ I think I would invest in vintage guitars first, silver second.
 
Oncefallen

Oncefallen

Idiot in Chief
Staff member
#8
Jan 15, 2011
6,069
3,454
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#8
Musicus said:
Silver may not bring the highest return, but out of the 4 commodities metals (gold, silver, platinum, palladium), silver is the most stable I think. If I had the $ I think I would invest in vintage guitars first, silver second.
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Only one problem with your plan, if the economy tanks silver will still have value (typically silver and gold values climb in a bad economy) but your vintage guitars will drop in real value because in a bad economy people aren't looking to buy that sort of thing.
 
calibob

calibob

Sinner saved by grace
#9
May 29, 2018
8,268
5,516
113
Anaheim, Cali.
#9
Oncefallen said:
Only one problem with your plan, if the economy tanks silver will still have value (typically silver and gold values climb in a bad economy) but your vintage guitars will drop in real value because in a bad economy people aren't looking to buy that sort of thing.
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buzzz, wrong. It's not the value of precious metal going up it's the value of money going down.
 
Musicus

Musicus

Senior Member
#10
Oct 26, 2017
314
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#10
Oncefallen said:
Only one problem with your plan, if the economy tanks silver will still have value (typically silver and gold values climb in a bad economy) but your vintage guitars will drop in real value because in a bad economy people aren't looking to buy that sort of thing.
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That's fine, I'll still have cool guitars to play!
 
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