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Other than Brewing => The Pub => Topic started by: bluefoxicy on August 09, 2011, 07:13:37 PM

Title: You should all be fired
Post by: bluefoxicy on August 09, 2011, 07:13:37 PM
http://consumerist.com/2011/08/airplane-flies-banner-by-sps-office-that-says-thanks-for-the-downgrade-you-should-all-be-fired.html

Plane flew by S&P dragging a sign that said "Thanks for the downgrade.  You should all be fired."

Financial situation must not be that bad if people have money to spend on this s***.
Title: Re: You should all be fired
Post by: theDarkSide on August 09, 2011, 07:30:06 PM
Maybe the guy could loop by DC too.

( in before the lock!!! ;D )
Title: Re: You should all be fired
Post by: denny on August 09, 2011, 10:07:14 PM
The mods have decided to let this one stay for now...please think before you post!
Title: Re: You should all be fired
Post by: tygo on August 10, 2011, 12:27:15 AM
"One financial industry professional was blunter in dismissing the downgrade. "Frankly, S&P could have delivered their opinion to me at my desk, printed on vellum, two weeks beforehand, hand delivered by a naked singing supermodel, and I would still have ignored it," he wrote in an email."

http://news.yahoo.com/blogs/lookout/p-slammed-u-downgrade-160436799.html
Title: Re: You should all be fired
Post by: MDixon on August 10, 2011, 12:36:27 AM
I'll post EXACTLY what I put on FB a few days ago. Those that know me know I am not very political at all, but I am gonna vote out every sorry SOB I can at the next election if I don't see some results out of my representatives!

Quote
Open letter to ALL my elected officials, local and national - be forewarned if you don't show me something positive out of your office before the next election, I am voting for your opponent. PS - if you choose pass blame and to not acknowledge your own responsibility, I may just vote for your opponent anyway! Enough already!!! (note - after the recent fiasco I believe the average person off the street can do a better job and work together better than our elected officials - ALL OF THEM!)
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 12:59:22 AM
I think we should be thankful for the +. I'm surprised it's no lower. Instead of complainiing, we should consider it a wake up call.
Title: Re: You should all be fired
Post by: tygo on August 10, 2011, 01:01:43 AM
"One financial industry professional was blunter in dismissing the downgrade. "Frankly, S&P could have delivered their opinion to me at my desk, printed on vellum, two weeks beforehand, hand delivered by a naked singing supermodel, and I would still have ignored it," he wrote in an email."

http://news.yahoo.com/blogs/lookout/p-slammed-u-downgrade-160436799.html

That guy is a liar. Just sayin'.

Well, I bet he wouldn't have been paying much attention to what was actually delivered.   ;)
Title: Re: You should all be fired
Post by: tubercle on August 10, 2011, 02:13:24 AM
Only those that haven't studied Adam Smith are shocked and surprized by all of this.

 For those of us that have, we raise a pint and smirk. The old man is right every time.

 Don't know how to fix it or prevent it, just not surprized.

 The invisable hand wins again.
Title: Re: You should all be fired
Post by: majorvices on August 10, 2011, 02:16:40 AM
"One financial industry professional was blunter in dismissing the downgrade. "Frankly, S&P could have delivered their opinion to me at my desk, printed on vellum, two weeks beforehand, hand delivered by a naked singing supermodel, and I would still have ignored it," he wrote in an email."

http://news.yahoo.com/blogs/lookout/p-slammed-u-downgrade-160436799.html

That guy is a liar. Just sayin'.

Well, I bet he wouldn't have been paying much attention to what was actually delivered.   ;)

Ok, you got me there.  ;)
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 02:24:44 AM
I would probably ignore any thing in the hands of a naked, singing, supermodel.

Okay, I can think of one thing that would get my attention.  ;D  :o
Title: Re: You should all be fired
Post by: Bret on August 10, 2011, 02:31:09 AM
I would probably ignore any thing in the hands of a naked, singing, supermodel.

Okay, I can think of one thing that would get my attention.  ;D  :o
What if it was a beer?
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 02:41:55 AM
A beer wasn't what I had in mind, this time.  ::)
Title: Re: You should all be fired
Post by: jamminbrew on August 10, 2011, 03:15:50 AM
A good beer hand delivered by a naked, singing supermodel? Did I just die and go to heaven?
Title: Re: You should all be fired
Post by: Bret on August 10, 2011, 04:31:07 AM
A beer wasn't what I had in mind, this time.  ::)
Well, she would have two hands...
Title: Re: You should all be fired
Post by: tschmidlin on August 10, 2011, 04:34:54 AM
Of course they should be fired, they have no idea what they're talking about.  They downgraded the US's ability to pay debt, but when the market tanked what did everyone buy?  US bonds.  If it was really less safe, why did investors flee there?  And remember, these are the same jackasses who rated the mortgage securities AAA+ up until they failed and everything crashed.  That is the same rating that the US debt used to be.

Why would anyone believe anything these idiots say?  Their track record sucks.  It seems to me like they are just trying to manipulate the markets to get what they want.
Title: Re: You should all be fired
Post by: phillamb168 on August 10, 2011, 05:09:49 AM
http://fofoa.blogspot.com/

I'm not one of these Glen Beck gold nuts, nor am I an economist, but I am pretty happy with my recent decision to invest in (physical. currency) gold. The current situation, with everything being built on debt, cannot stand. Not advocating a return to the gold standard, but right now gold as a savings vehicle seems to be a good thing.

This is going to get worse before it gets better, and at this point, politics (at least conservative vs liberal) have nothing to do with it, it's beyond that now.

The unfortunate truth to all of this is that we (the western world) have gotten too used to being able to have anything we want with little actually cost. This goes from the guy next door buying on credit the huge TV he doesn't actually need, to the guy a few blocks from him who wanted a mansion on a $40,000 a year paycheck, to the government wanting a war it can't pay for (note please that I am not arguing whether the current war is just or not, I'm just saying we can't afford it). It can't continue.

Reminds me of the old gospel song, "My hope is built on nothing less" http://www.youtube.com/watch?v=ekUGXnRcR-M "All other ground is sinking sand."
Title: Re: You should all be fired
Post by: tschmidlin on August 10, 2011, 05:19:59 AM
The debt is such a huge number it is difficult to understand something that large.  But the debt as a percentage of GDP is way less now than it was during/following WWII.  You can't fix the debt without fixing the economy.
Title: Re: You should all be fired
Post by: euge on August 10, 2011, 05:44:56 AM
It's one giant ponzi scheme. And the scheme is unraveling before our eyes.

Anyway, guys I know this is a BFI thread but politics are like cancer to a beer forum. Unless it's beer politics. Tread wisely ;)
Title: Re: You should all be fired
Post by: phillamb168 on August 10, 2011, 07:32:15 AM
I hear you Euge - it's hard to talk about this in a way that avoids politics - although perhaps that means it just shouldn't be discussed on this forum... The problem is that I don't really have any other Americans to talk to about this with, other than you guys. Believe it or not, this forum is pretty much my only contact with the US outside of talking to my dad or brother occasionally, so forgive me if I sometimes toe the line a bit.
Title: Re: You should all be fired
Post by: punatic on August 10, 2011, 08:40:09 AM
The best bacon bit I've heard in a long time:

Glenn Beck on the wisdom of burying OBL at sea:

"If I could have had it my way, I'd have wrapped him in bacon, put him inside a football, and buried him underneath the 50 yard line in the Meadowlands."

Ah yes, I've heard of that recipe. The Jimmy Hoffa, they call it. Also Glenn Back is a putz. "The world is ending! Buy lots of golds!"

But hey, it looks good on you, yah?   ;)
Title: Re: You should all be fired
Post by: maxieboy on August 10, 2011, 10:29:50 AM
 It seems to me like they are just trying to manipulate the markets to get what they want.

Bingo.
Title: Re: You should all be fired
Post by: phillamb168 on August 10, 2011, 11:51:02 AM
The best bacon bit I've heard in a long time:

Glenn Beck on the wisdom of burying OBL at sea:

"If I could have had it my way, I'd have wrapped him in bacon, put him inside a football, and buried him underneath the 50 yard line in the Meadowlands."

Ah yes, I've heard of that recipe. The Jimmy Hoffa, they call it. Also Glenn Back is a putz. "The world is ending! Buy lots of golds!"

But hey, it looks good on you, yah?   ;)

My changing my stance on gold does not un-putz glen beck ;-)
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 12:16:54 PM
I hear you Euge - it's hard to talk about this in a way that avoids politics - although perhaps that means it just shouldn't be discussed on this forum... The problem is that I don't really have any other Americans to talk to about this with, other than you guys. Believe it or not, this forum is pretty much my only contact with the US outside of talking to my dad or brother occasionally, so forgive me if I sometimes toe the line a bit.

While I made some earlier comments, I wouldn't suggest getting too wrapped up in this thread. It'll be locked on its own or someone will say something to deliberately get it locked. I would also like to discuss topics like this, but it's true, some people can't do so without getting angry.
Title: Re: You should all be fired
Post by: phillamb168 on August 10, 2011, 12:23:43 PM
In that case this'll be my last post... All I'll say is that I think it's not just forums where this anger can come out, but everywhere. Lots of people are angry, regardless of politics. I wish I knew a way to fix it, because I for one think respectful disagreement (and the conversations and compromises that result from it) are one of the most important things we can do. Too many people are drawing lines in the sand these days.

Ok, that's all I wanted to say. I'll go back to talking about pond pumps now.
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 12:24:55 PM
In that case this'll be my last post... All I'll say is that I think it's not just forums where this anger can come out, but everywhere. Lots of people are angry, regardless of politics. I wish I knew a way to fix it, because I for one think respectful disagreement (and the conversations that result from it) are one of the most important things we can do. Too many people are drawing lines in the sand these days.

Ok, that's all I wanted to say. I'll go back to talking about pond pumps now.

Well said. Now go pump your pond. :D
Title: Re: You should all be fired
Post by: phillamb168 on August 10, 2011, 12:25:13 PM
In that case this'll be my last post... All I'll say is that I think it's not just forums where this anger can come out, but everywhere. Lots of people are angry, regardless of politics. I wish I knew a way to fix it, because I for one think respectful disagreement (and the conversations that result from it) are one of the most important things we can do. Too many people are drawing lines in the sand these days.

Ok, that's all I wanted to say. I'll go back to talking about pond pumps now.

Well said. No go pump your pond. :D

That's what she said?
Title: Re: You should all be fired
Post by: theDarkSide on August 10, 2011, 12:53:52 PM
The debt is such a huge number it is difficult to understand something that large.

I wonder what kind of brew sculpture I could buy for $14 trillion dollars.
Title: Re: You should all be fired
Post by: 1vertical on August 10, 2011, 02:26:07 PM
There is a .pdf on this page
http://www.digitalcorvettes.com/forums/showthread.php?s=e03b855e02facc8c1cc49480f6683f2d&p=1905509 (http://www.digitalcorvettes.com/forums/showthread.php?s=e03b855e02facc8c1cc49480f6683f2d&p=1905509)
That is a great graphic visual of the national debt.  It may help you understand how bizarre this
stack of hundred dollar bills is really ......
Title: Re: You should all be fired
Post by: bluefoxicy on August 10, 2011, 02:34:01 PM
politics are like cancer to a beer forum

It's notable I tend to generally argue economics and philosophy more than politics; I switched to Independent on my voter's registration simply because I hate everyone in office.  Republicans are being stupid, Democrats are being stupid, and who else do we have?  The Greens are stupid; the Libertarians are stupid; the Tea Party is stupid; the Green Tea Party is stupid.

Politics is entirely stupid.

Anything argued on party lines devolves into politically charged, mindless drivel trying to cling to an identity of idealism following some other guys on crap you don't understand.

Forget all that.  Let's just argue from the gut and ignore the politics involved.  That includes ignoring arguments like "Well socialism blahblah and I think it's a better system so blahblah" or "Well free market blahblah and I'm not a communist so we should..."  Stop tailoring arguments to fixed political systems and start looking at what's in front of you.



More notable, though, is I just thought the plane thing was funny.  So far I haven't see anyone accuse the S&P of being a pack of stupid liberals or crazy conservatives; I have seen someone fly a plane by with a banner saying they're all unqualified for their jobs.
Title: Re: You should all be fired
Post by: Slowbrew on August 10, 2011, 03:11:02 PM
On Friday night when I heard S&P was downgrading our debt the first thought I had was "How long will it be before a scandal over all the S&P Execs being primed to short the market, prior to the downgrade, comes out?".

That's really the only reason I can see for them doing it.  Everyone knew if the US lost it's AAA rating the only fast money to be made would be in short trades.  If you knew exactly when the downgrade was coming you could make out like the criminals these guys probably are.

Whatever the correct rating is, the folks at the S&P were manipulating the market.  We just need to wait and see who they were doing it for.

Paul
Title: Re: You should all be fired
Post by: ccarlson on August 10, 2011, 03:13:18 PM
On Friday night when I heard S&P was downgrading our debt the first thought I had was "How long will it be before a scandal over all the S&P Execs being primed to short the market, prior to the downgrade, comes out?".

That's really the only reason I can see for them doing it.  Everyone knew if the US lost it's AAA rating the only fast money to be made would be in short trades.  If you knew exactly when the downgrade was coming you could make out like the criminals these guys probably are.

Whatever the correct rating is, the folks at the S&P were manipulating the market.  We just need to wait and see who they were doing it for.

Paul

If that was their intent, they wouldn't have done it on a Friday after the market closed. Everyone had the entire weekend to plan the same.
Title: Re: You should all be fired
Post by: denny on August 10, 2011, 03:20:02 PM
I hear you Euge - it's hard to talk about this in a way that avoids politics - although perhaps that means it just shouldn't be discussed on this forum... The problem is that I don't really have any other Americans to talk to about this with, other than you guys. Believe it or not, this forum is pretty much my only contact with the US outside of talking to my dad or brother occasionally, so forgive me if I sometimes toe the line a bit.

While I made some earlier comments, I wouldn't suggest getting too wrapped up in this thread. It'll be locked on its own or someone will say something to deliberately get it locked. I would also like to discuss topics like this, but it's true, some people can't do so without getting angry.

Well said....keep it to economics and there won't be a lock.
Title: Re: You should all be fired
Post by: bluefoxicy on August 10, 2011, 04:40:39 PM

While I made some earlier comments, I wouldn't suggest getting too wrapped up in this thread. It'll be locked on its own or someone will say something to deliberately get it locked. I would also like to discuss topics like this, but it's true, some people can't do so without getting angry.

There's an actual P&R forum on the bike forums ... the moderators in general don't bother with the incivility.  They have other issues (obvious spam, naked pictures, pasting of whole copyrighted articles...) but they don't care if you want to hurl insults and vague nonsense.

There's also a heavily locked down trollpost forum that gets just about no attention.
Title: Re: You should all be fired
Post by: gordonstrong on August 10, 2011, 04:43:35 PM
That's the problem with economics.  The way economists interpret things seems to have more to do with their political beliefs than anything else.  If you have taken any amount of math and then take economics, you'll be infuriated at all the hand-waving they do.  They have equations but never solve them.

If you want to listen to an economist, the first thing you should do is understand their political bias.  Then you'll be able to understand them in context.

I guess I'm saying that you run into problems with forum politics rules when you venture into economics because they will invariably overlap.

Title: Re: You should all be fired
Post by: bluesman on August 10, 2011, 04:52:26 PM

I guess I'm saying that you run into problems with forum politics rules when you venture into economics because they will invariably overlap.


So true.

There's a fine line that can be walked when discussing spending and politics. We here on the forum have to be very careful where we tread sometimes.
Title: Re: You should all be fired
Post by: tschmidlin on August 10, 2011, 07:05:40 PM
The best bacon bit I've heard in a long time:

Glenn Beck on the wisdom of burying OBL at sea:

"If I could have had it my way, I'd have wrapped him in bacon, put him inside a football, and buried him underneath the 50 yard line in the Meadowlands."

Ah yes, I've heard of that recipe. The Jimmy Hoffa, they call it. Also Glenn Back is a putz. "The world is ending! Buy lots of golds!"

But hey, it looks good on you, yah?   ;)

My changing my stance on gold does not un-putz glen beck ;-)
The putziness of Glenn Beck and his "buy gold" stance was not so much that gold was ever a bad investment.  It was that the advertisers for his show sell gold coins that aren't worth what they sell them for, and customers end up (if they are lucky) barely able to recoup their investments.  Beck's fans trust him, and he's not doing them any favors, especially when he gets into nonsensical, fear mongering rants about the government coming to take your gold bullion.

One could argue that's not Beck's fault.  One could also argue "buyer beware".  Those are nice arguments to make as long as no one you know gets screwed by these guys.
Title: Re: You should all be fired
Post by: weithman5 on August 10, 2011, 07:17:28 PM
force equals the time rate of change of momentum. oh wait, we're not talking physics?  not that i would expect the people in office to have any understanding of physics, in fact when it comes to science they tend to be clueless. in fact i think most of them would not be employable outside of government checks
Title: Re: You should all be fired
Post by: hopfenundmalz on August 10, 2011, 07:31:20 PM
"Gold is always a good investment."  says the gold bugs.  Look at the historic price of gold, and you will see some big ups and big long term downs in the price.  Right now it is a good investment, when the music stops, don't be without a chair.  ;)
Title: Re: You should all be fired
Post by: punatic on August 10, 2011, 08:33:21 PM
force equals the time rate of change of momentum. oh wait, we're not talking physics?  not that i would expect the people in office to have any understanding of physics, in fact when it comes to science they tend to be clueless. in fact i think most of them would not be employable outside of government checks

F = ma

jeeze - I learned Newton's second law in elemetary school.

But the guys who went on to be politicians were really good at recess, as I recall.
Title: Re: You should all be fired
Post by: punatic on August 10, 2011, 08:40:21 PM
The best bacon bit I've heard in a long time:

Glenn Beck on the wisdom of burying OBL at sea:

"If I could have had it my way, I'd have wrapped him in bacon, put him inside a football, and buried him underneath the 50 yard line in the Meadowlands."

Ah yes, I've heard of that recipe. The Jimmy Hoffa, they call it. Also Glenn Back is a putz. "The world is ending! Buy lots of golds!"

But hey, it looks good on you, yah?   ;)

My changing my stance on gold does not un-putz glen beck ;-)
The putziness of Glenn Beck and his "buy gold" stance was not so much that gold was ever a bad investment.  It was that the advertisers for his show sell gold coins that aren't worth what they sell them for, and customers end up (if they are lucky) barely able to recoup their investments.  Beck's fans trust him, and he's not doing them any favors, especially when he gets into nonsensical, fear mongering rants about the government coming to take your gold bullion.

One could argue that's not Beck's fault.  One could also argue "buyer beware".  Those are nice arguments to make as long as no one you know gets screwed by these guys.

So Tom, you believe what Anthony Weiner was saying. 
Title: Re: You should all be fired
Post by: tschmidlin on August 10, 2011, 09:15:20 PM
So Tom, you believe what Anthony Weiner was saying. 
I wasn't aware of anything Weiner said and had to look it up.  I'm not sure I got the right quote, but this seems accurate to me: "many of them take the rhetorical excesses of a Glenn Beck and his like when they talk up gold and then immediately go to the advertisements to get ripped off".

Am I wrong?
Title: Re: You should all be fired
Post by: weithman5 on August 10, 2011, 10:17:26 PM
[

F = ma

jeeze - I learned Newton's second law in elemetary school.

But the guys who went on to be politicians were really good at recess, as I recall.

yes, mv equals momentum the rate of change with time and constant mass makes ma. (change in velocity with time is acceleration)

yes they were good at recess, but they were too afraid to show up at the bike rack at 3 pm when there were no teachers around ;D
Title: Re: You should all be fired
Post by: loopy on August 10, 2011, 11:46:22 PM
I learned my lesson about talking finance on a brewing board so I wont do it.  Don't worry, my days of ranting are well over, we have the government we deserve and that's that. 

That being said, CME just raised margins again on gold, this time up 22%
http://www.cnbc.com/id/44097598

This will reduce the mount of leverage people can use to buy gold, which will cause sells.  As price falls from supply/demand, it will force other margin calls.  It has happened a few times this year already, and you can see the violent whipsaws in the chart. 

Anytime you see parabolic blow off, you need to either find the exit or expect the eventual reversal.  yadda yadda short term trading versus long term trend, I get it, but in the short term, gold looks overbought to me.  good luck to you. 
Title: Re: You should all be fired
Post by: tubercle on August 11, 2011, 12:15:53 AM
Probably one of the worst times in history to buy gold.

 I'll leave out the gory details, but at your leasure hours check out the average ROI vs the last 3 years. Nothing that good last. There will be blood letting and nashing of teeth.

 The value of gold (or anything else) is determined by the availability of a buyer at that price who is both willing and able to make the transfer for something of equal or greater value.  For example, just about everyone who wants (willing) and has the money to buy (able) gold already has. Its priced out of reach of the average person. Now the owners have no one to sell it to except each other.

See also: Housing bubble
Title: Re: You should all be fired
Post by: 1vertical on August 11, 2011, 12:38:31 AM
Probably one of the worst times in history to buy gold.

 I'll leave out the gory details, but at your leasure hours check out the average ROI vs the last 3 years. Nothing that good last. There will be blood letting and nashing of teeth.

 The value of gold (or anything else) is determined by the availability of a buyer at that price who is both willing and able to make the transfer for something of equal or greater value.  For example, just about everyone who wants (willing) and has the money to buy (able) gold already has. Its priced out of reach of the average person. Now the owners have no one to sell it to except each other.

See also: Housing bubble
That is all well and good Tubercle, but when the pile of paper money is larger than the loaf of bread it buys,
I will be willing to trade my hog or cow or eggs or ahem * beer for a slivver or two of gold....
when that paper ain't carrying much value unless you are burning it for comfort on a -40*f winter night....What good is that, quote" money to buy (able)" for anything?
Title: Re: You should all be fired
Post by: nicneufeld on August 11, 2011, 12:56:59 AM
This is why I invest in vacations, beer, and surbahars!  :D
Title: Re: You should all be fired
Post by: tubercle on August 11, 2011, 01:05:06 AM
Probably one of the worst times in history to buy gold.

 I'll leave out the gory details, but at your leasure hours check out the average ROI vs the last 3 years. Nothing that good last. There will be blood letting and nashing of teeth.

 The value of gold (or anything else) is determined by the availability of a buyer at that price who is both willing and able to make the transfer for something of equal or greater value.  For example, just about everyone who wants (willing) and has the money to buy (able) gold already has. Its priced out of reach of the average person. Now the owners have no one to sell it to except each other.

See also: Housing bubble
That is all well and good Tubercle, but when the pile of paper money is larger than the loaf of bread it buys,
I will be willing to trade my hog or cow or eggs or ahem * beer for a slivver or two of gold....
when that paper ain't carrying much value unless you are burning it for comfort on a -40*f winter night....What good is that, quote" money to buy (able)" for anything?

  I agree totally. Paper money only has value by fiat. Gold has value by utility; so does your hogs & chickens. So does your labor. I might even trade you a sixpack for a wheelbarrow of worthless paper money to keep from freezing to death. :D

 The point I was making is that worth is a fleeting thing. Only the buyer and seller can determine that. That is why an auction is the purest form of capitalism. The buyer won't pay more than they are willing or able and the seller won't accept anything less likewise. For example, I have a fiddle that belonged to my great grandfather passed down through my grandfather and then my dad to me. Its worth ~$1000 bucks on the used instrument market. I wouldn't take 100 times that because I have already promised it to my grandson.

 At this point in time, the gold is more valuable to the current owners than to those that haven't bother to try and buy any - like me. I can't eat gold.
  
 I know none of this makes sense....I have a hard time explaining it.
Title: Re: You should all be fired
Post by: narvin on August 11, 2011, 01:12:24 AM
Gold has value due to scarcity and demand.  Calling ornamentation "utility" is a bit of a stretch.
Title: Re: You should all be fired
Post by: hopfenundmalz on August 11, 2011, 01:27:47 AM
Gold has value due to scarcity and demand.  Calling ornamentation "utility" is a bit of a stretch.

The largest market for gold in the world is India.  For the wedding costumes, jewlery and other bling.  You might call it a dowery, but they could be giving other securities than the traditional gold.  Its the look at the wedding, from what I understand.

Must be expensive to get married there now!  Is it ever cheap?
Title: Re: You should all be fired
Post by: tubercle on August 11, 2011, 01:50:19 AM
Gold has value due to scarcity and demand.  Calling ornamentation "utility" is a bit of a stretch.

 Gold has a great amout of utility. Like hopfenundmalz mentioned as jewelry, it is heavily used in the electronics industry. It is valuable in terms of a negotable asset due to durabllity and standarization which adds value when faith is lost in the "full faith and credit" of fiat money. Ornamentation itself has utility if that is why a person wants to buy it. Utility is left strictly up to the "owner". If gold didn't have any utility then no one would own, or want to own, any. Utility is what its all about.

 This is a bad, bad, time to buy any gold though. Anytime you hear of anything has "reached its all time high", tread carefully.
Title: Re: You should all be fired
Post by: aviking427 on August 11, 2011, 02:57:57 AM
Gold has value due to scarcity and demand.  Calling ornamentation "utility" is a bit of a stretch.

 Gold has a great amout of utility. Like hopfenundmalz mentioned as jewelry, it is heavily used in the electronics industry. It is valuable in terms of a negotable asset due to durabllity and standarization which adds value when faith is lost in the "full faith and credit" of fiat money. Ornamentation itself has utility if that is why a person wants to buy it. Utility is left strictly up to the "owner". If gold didn't have any utility then no one would own, or want to own, any. Utility is what its all about.

 This is a bad, bad, time to buy any gold though. Anytime you hear of anything has "reached its all time high", tread carefully.

I totally agree with you. The best time to buy gold is when all other trades and commodities are doing good, gold is almost always down.
Title: Re: You should all be fired
Post by: phillamb168 on August 11, 2011, 10:08:12 AM
Here ya go:

http://www.youtube.com/watch?v=GTQnarzmTOc&feature=youtu.be&t=1m1s