Breaking my rule if Oil drops to $15p/b

Nowler

Experienced member
1,347 161
Well,

Well, yes, precious metals are certainly a better store of value and less volatile in price than oil.

But Gold is subject to mandatory reporting requirements and (like similar valuable commodities) at high risk of confiscation in times of fiscal stress like war, global economic meltdowns, etc.

Better to stick with things that are less likely to be legally stolen from you, by virtue of those things being more trouble to reassign handle or repatriate than they are worth to steal, lol.

:)

But Silver is surely much less likely to be "confiscated" if the shit hits the fan?
It is much less valuable than gold.


It makes me laugh when I think of how fragile the whole game is.
Money created out of thin air... the system only working because we all agree that this essentially otherwise worthless piece of paper is worth something.

I mean... we have paper money...
But it could easily (well, maybe not easily) be sea shells as our currency!
At one point in time, sea shells we currency for some!
 

cantagril

Senior member
3,284 993
Ahhhh
You are talking about The Day of the Triffids!

And Cantagril is talking about War of The World's?
No, he isn't.

He should have specified that it's "The country of the blind" .......with strictly fixed vegetation.

For those interested in irrelevant factoids, Wyndham's oeuvre resulted in an alley in Hampstead (just next to Le Pain Quotidien in Pond Street) being renamed "Triffid Alley"...
 
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new_trader

Legendary member
6,574 1,429
Money created out of thin air... the system only working because we all agree that this essentially otherwise worthless piece of paper is worth something.

You need to revise your monetary history. Also, people talk about gold confiscation without any references to when and where this happened.
 

Dowser

Experienced member
1,511 361
But Silver is surely much less likely to be "confiscated" if the shit hits the fan?
They used Silver when they ran out of Copper during the Manhattan Project! It's the best conductor of electricity don't ya know!

'Nichols met with Undersecretary of the Treasury Daniel Bell on August 3, 1942, to inquire about borrowing 6,000 tons of silver from Treasury vaults. In his memoirs, Nichols relates that Bell indignantly informed him that the Treasury’s unit of measure was the troy ounce '
 

new_trader

Legendary member
6,574 1,429
I'll tell you a true story, funny too! A few years ago I walked into a souvenir shop and saw some 1oz, 999 fine silver coins. I asked the shopkeeper if they were legal tender and she looked at me, almost incredulously, before answering "No, they are only souvenirs, why would anyone accept a silver coin as payment? I wouldn't!"...

I thought that was hilarious, I never bothered trying to explain...and this woman was selling the stuff!
 
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MasterOfCoin

Well-known member
472 173
But Silver is surely much less likely to be "confiscated" if the shit hits the fan?
It is much less valuable than gold.


It makes me laugh when I think of how fragile the whole game is.
Money created out of thin air... the system only working because we all agree that this essentially otherwise worthless piece of paper is worth something.

I mean... we have paper money...
But it could easily (well, maybe not easily) be sea shells as our currency!
At one point in time, sea shells we currency for some!
Yes, Silver is less likely to be confiscated.
It's less valuable because it lacks durability- it tarnishes (oxidizes) quickly thus losing it's lustre and purity.
However, it has historically been used to back paper 'money' with real value and at such times is much more likely to be confiscated/ requisitioned or otherwise stolen from you.

What you are forgetting in your reflections on the farce of the whole game, is that the inherantly flawed system only works because you are obliged, basically forced, to use it. - The designated 'fiat' currency being declared 'legal tender' which makes it the only means by which payment can be settled that is recognized in law. Thus you cannot use the law to pursue payment owed in sea shells, Nowler coins, or dare I say it, gold, only in legal tender.

And that, essentially is the flip side of the fraud that allows the whole system of worthless money to function. You use it because you have to. The state declares fake money as the official and only currency recognized by law plus of course outlaws the use of any other currency and in tandem designates a privately owned central bank as the only entity allowed to supply print or produce the declared currency. Wallah! You have money, lol. It says so, look..... 'I promise to pay the bearer on demand the sum of "value x" in other equally worthless pieces of paper to sum of that same value' hahahaha. Note that you don't get gold, sea shells, silver or anything else actually valuable or real, just other worthless promises.

The whole set up is just a blatantly fraudulent ponzi scheme that exists to transfer wealth from those obligated to use the currency (that's you and me) to those that more directly get to use it closer to its point of origin. Meaning get to spend it before its value is eroded by the inflation built in to the process. - Money is not simply 'created', oh no, it is created repayable at interest, lol. An amusing quirk of this creation process is that the 'interest' that is required to be repaid in addition to the original sum is not created, and thus cannot in actuality be repaid, Hence more debt at interest will need to be created to facilitate the original repayment ... and more the next .... and next ... and so on. Ever escalating in size exponentially due to the compounding of interest. Doomed to spiral out of all comprehension and any prospect of stable value over time by design.

And this, we are told by our wise and benevolent masters, is the best and most assuredly greatest and fairest way to facilitate the exchange of goods and services in a thriving and stable environment.

If you are not rolling on the floor laughing yet, then you haven't understood how absurd the whole thing is.

:rolleyes:
 
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Nowler

Experienced member
1,347 161
This totally flew under my radar: https://www.reuters.com/article/us-china-oil-yuan-exclusive-idUSKBN1H51FA

Granted, Oil was not something that I was considering at the time, but this could have colossal implications on just about everything!

I picked up on this after watching the following link from Oct/Nov 2019:

Obviously the USD is the international currency... but can any of you shine some light on how moving some of the global oil purchases (as in the link) would impact things?

The USD being the world reserve currency means (amongst other thing) that the USD is sought after in general, but certainly in times of uncertainty. Right?

So as China looks set to be the one that takes the U.S's place at the top of the pile of safest securities, this must mean that US bonds will decrease in popularity, and Chinese increase?
 

J Livermore

Active member
125 38
Obviously the USD is the international currency... but can any of you shine some light on how moving some of the global oil purchases (as in the link) would impact things?

The USD being the world reserve currency means (amongst other thing) that the USD is sought after in general, but certainly in times of uncertainty. Right?

So as China looks set to be the one that takes the U.S's place at the top of the pile of safest securities, this must mean that US bonds will decrease in popularity, and Chinese increase?
Nowler,

I read the link...

If Putin had any common sense he would realize that an ascendent China could someday pose a threat to Russia’s security. Whether it be economic or military.

During the cold war the two nations weren’t exactly buddy buddies. Back in the day, the rumor was that the Soviet politburo had a secret vote on whether or not to have a surprise nuclear strike on China. Supposedly the vote failed because they didn’t know what the U.S. response would be.

I always wondered if that rumor was true or not.
 

Nowler

Experienced member
1,347 161
Nowler,

I read the link...

If Putin had any common sense he would realize that an ascendent China could someday pose a threat to Russia’s security. Whether it be economic or military.

During the cold war the two nations weren’t exactly buddy buddies. Back in the day, the rumor was that the Soviet politburo had a secret vote on whether or not to have a surprise nuclear strike on China. Supposedly the vote failed because they didn’t know what the U.S. response would be.

I always wondered if that rumor was true or not.

Is it much different than the threat the U.S poses?
The U.S are far more aggressive than the Chinese.

Wasn't there a few times where mistakes were made interpreting things, and fingers were hovering over "The Red Button"?
I think there was a simulation playing out at one point, and it looked like another nation was after firing multiple missiles. They realised the error in time and avoiding retaliating.

Last time I checked, we are 120 seconds away from midnight on the doomsday clock
 
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Nowler

Experienced member
1,347 161
On the topic of oil however,
I see we are pulling back a bit - Which I was expecting, so I sold some of my position and am looking to buy in a little lower than where it's currently at.

I spoke with my broker today, and apparently the stats they were providing me were wrong.
I am pretty much on the button of 10% off breaking even as a trader.
Which is still awesome considering where I was... but very disappointing as their stats indicated that I had just turned profitable...

At least now I know exactly where I am at after going through my statements since 2017
 
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J Livermore

Active member
125 38
Is it much different than the threat the U.S poses?
The U.S are far more aggressive than the Chinese.

Wasn't there a few times where mistakes were made interpreting things, and fingers were hovering over "The Red Button"?
I think there was a simulation playing out at one point, and it looked like another nation was after firing multiple missiles. They realised the error in time and avoiding retaliating.

Last time I checked, we are 120 seconds away from midnight on the doomsday clock
I was talking about the risk of future incursions into Russia’s territory itself. I didn’t make myself clear enough. Currently, the U.S. only poses an economic threat to Russia’s homeland. Russia’s nuclear weapons make a US occupation of Russian territory with today’s technology a near impossibility.

In the future I do not see the U.S. economy growing fast enough to support scientific research capable of beating Russian scientific research.That plus the fact that our military is too small to be an occupier because it’s based more on technology than man power. We couldn’t even occupy Iraq or Afghanistan without all sorts of trouble. That’s a (dirty) job for infantry not technology.

China on the other hand not only has a big enough population to occupy any territory it wants but it’s economy is growing so much faster than Russia’s that it’s scientific research may be able to better any Russian weapons (nuclear or otherwise) in the future.

He who researches the military technology of the future the best may very well rule large parts of the world.
 
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