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Gold hits all time high

goldprice.org

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Re: Gold hits all time high

#131

Post by defrost »

kragen wrote: post #129
defrost wrote: post #118

Earlier quoted context omitted.

Dying a kilo of fabric with real Tyrian purple is still an expensive process today. Knock off purple is cheap, as are machine stitched fabrics .. neither pass the eye of those who judge such things though.

Sure, and the greatest thing about modernity is that during the Roman Empire you would have been executed for wearing Tyrian purple, while now anyone who cares to spend the money is entitled.

Executed?

https://imperiumromanum.pl/en/curiosities/sumptuariae-leges-...

Despite Sumptuary law's then it was often the case, as it is now, that anyone who cared to spend the money could become a magistrate and wear a stripe of purple, or spend more money to overthrow a ruler and replace them .. going full purple.

Wearing purple signified not only that you could afford purple, it also signified you could bribe censors to allow you to wear purple.

Much like having the latest model of a limited edition sports car today; not only can you afford the car but you can also afford enough shittier models to be moved up the preferred buyer list or otherwise bribe the sales reps.

Re: Gold hits all time high

#132

Post by kmeisthax »

kragen wrote: post #130
kmeisthax wrote: post #78

Earlier quoted context omitted.

The problem with the "nice suit" metaphor is that the cost of clothing has actually plummeted since the height of the Roman Empire. Also, they didn't wear suits. The reason why money printing doesn't immediately translate into lowered dollar value (and thus, higher gold prices) is that other goods and services are getting cheaper around it. If supply is flexible then the price of some goods won't change much, while t…

Most of this is not correct, but some of it is. I'm glad it got unbanned, though.

[dead]

Re: Gold hits all time high

#133

Post by d1sxeyes »

eadmund wrote: post #123
d1sxeyes wrote: post #108

Earlier quoted context omitted.

“We’re going to increase taxes!” “To spend on better public services?” “Nah, we’re just gonna burn it” Easier said than done, I think.

Is it possible that a fair amount of government expenditures are just a fancy way of burning money? E.g. cowboy poetry festivals.

The money doesn’t get burned though, it goes somewhere. Whether it’s for equipment hire or facilities or to compensate the cowboy poets for their time, or whatever.

Re: Gold hits all time high

#134

Post by mettamage »

eadmund wrote: post #124
paulpauper wrote: post #104

Earlier quoted context omitted.

Yes, adjusted for inflation, gold has done much worse than the media hype would suggest.

Of course, adjusted for inflation the dollar has done much, much worse than gold! Not that one should put all of one’s portfolio into gold. That would be pretty insane. But a certain fixed allocation within a balanced portfolio? I think that makes sense.

Fun take. True as well. Fiat money is very weak against inflation.

Re: Gold hits all time high

#135

Post by sph »

czbond wrote: post #38
gwbas1c wrote: post #37

If you want to understand what's going on, I strongly recommend reading Principles for Navigating Big Debt Crises by Ray Dalio. The book is highly researched and explains the pattern we're in, and what we'll see next. https://www.amazon.com/Principles-Navigating-Big-Debt-Crises...

If you don't mind PDF, you can also get it free from the author here: https://www.principles.com/big-debt-crises

And here’s the PDF if you don’t want to give away your email: https://github.com/the-bookshelf/misc-economics/blob/master/...

Re: Gold hits all time high

#136

Post by grafmax »

m101 wrote: post #91
grafmax wrote: post #47

Earlier quoted context omitted.

> and democratic process ability to fix this Actually we’ve shifted into authoritarianism and confidence has only worsened.

I assume you are labelling trump the authoritarian. He has very little ability to impact on the majority of US spending, whilst a true authoritarian should be able to. The system has been corrupted to such an extent that it is basically impossible to change.

Maybe you are conflating authoritarianism with dictatorship but that is only one kind. We live in an oligarchy and have for many years. Trump is the latest intensification of that trend.

It’s backwards to blame the faults of oligarchy on democracy. The reverse would be true.

However you are quite right that political system we are living under seems incapable of righting itself. The upper class is like a parasite that doesn’t know or care if it’s killing its host.

Re: Gold hits all time high

#137

Post by ryandvm »

wcfrobert wrote: post #72
paxys wrote: post #30

Earlier quoted context omitted.

What is it about Bitcoin over the thousands of other altcoins that have the exact same properties? A large enough group of people picked Bitcoin and said "this is the one". That's basically it. Same thing happened with gold at some point in human history and we just stuck to it.

Bitcoin is different. Who is Satoshi Nakamoto? How come his Bitcoin holdings - now worth more than $100 billion dollars - have remained untouched since 2010? How can any one human resist that kind of temptation? I would be digging landfill sites if I lost my wallet worth $100 billion. The launch of Bitcoin also coincided with the 2008 financial crisis. The first block had the text: "The Times 03/Jan/2009 Chancellor o…

He's probably alive and has just lost the keys to his wallet.

I too would retreat to the farthest corners of the earth never to be seen again if I had misplaced 100 billion dollars.

Re: Gold hits all time high

#139

Post by foxyv »

r_lee wrote: post #54
jeffrallen wrote: post #18

Earlier quoted context omitted.

Or that rich people need to pay more taxes. Cc: Gary's economics @ youtube

That is what he means... Inflation of all assets caused by bad fiscal policy and both deregulation and regulation causing most of the money to only move around in the upper echelons of society this really can't keep going on forever. the weekly "ATH" and everything going up is like a pressure bomb that keeps getting pressurized more and more each day. And because this is all assets, the more assets you already have,…

A rising sea, raises all boats. But if one boat shoots up like a rocket, then expect a tidal wave.

Re: Gold hits all time high

#140

Post by rajnathani »

xhrpost wrote: post #31
m101 wrote: post #22

The drivers of this in my view are: 1) flight from USD assets given views that one cannot depend on US assets as safe havens 2) central banks increasing gold holdings 3) purchases by Chinese investors as they have few places to invest their money 4) concern around debt levels deficits and democratic process ability to fix this 5) concerns around central bank independence, and hence inflation targeting, being undermin…

>flight from USD assets given views that one cannot depend on US assets as safe havens I keep seeing this but then I also keep seeing the opposite: https://finance.yahoo.com/news/foreigners-buying-us-stocks-r...

41% [1] of S&P500 companies' (~Top 500 US stocks index which for example doesn't include TSMC, as it's only for US-listed companies) revenue comes from outside of the US. So really, people are buying into global companies when they're buying the S&P500.

[1] https://www.apolloacademy.com/wp-content/uploads/2025/01/011...

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