OIL VS GOLD

[calibob]

Do you believe that the oil standard will replace the gold standard?

 

[Musicus]

Do you believe that the oil standard will replace the gold standard?

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.

 

[mcubed]

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]

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]

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.

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.

 

[calibob]

titainium, not the metal but the mfg. process

 

[tourist]

Do you believe that the oil standard will replace the gold standard?

...or maybe a water standard. Those mid-eastern countries lack water which is even more precious than oil.

 

[Oncefallen]

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.

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]

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.

buzzz, wrong. It's not the value of precious metal going up it's the value of money going down.

 

[Musicus]

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.

That's fine, I'll still have cool guitars to play!