Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

How Cash4Gold Works - From a Former Employee

complaintsboard.com

Post reply on HN
Print view View original

31–33 of 33 posts

Re: How Cash4Gold Works - From a Former Employee

#31

Post by RK »

kiba wrote: post #17

Turning gold into cash should be the last thing people do. Unlike the US dollars, gold can't simply be mined fast enough to reduce its values. Whereas with the US dollar, the US federal reserve can just print it, literally. Gold is the money of the future, especially when the economic system finally collapse. Gold has been money for thousand of years for good reason. Unless there are better form of money in a free ma…

Last weekend I was at a hotel and saw a small seminar with a bunch of mostly older people. The sign read GOLD4CASH. Is this the other side of Cash4Gold's business?

I have actually heard some dubious ads on the radio about buying gold recently ("we'll send you your first shipment of real gold in 2-3 weeks after signing up", etc.).

Re: How Cash4Gold Works - From a Former Employee

#32

Post by robotrout »

daemin wrote: post #30
kiba wrote: post #17

Turning gold into cash should be the last thing people do. Unlike the US dollars, gold can't simply be mined fast enough to reduce its values. Whereas with the US dollar, the US federal reserve can just print it, literally. Gold is the money of the future, especially when the economic system finally collapse. Gold has been money for thousand of years for good reason. Unless there are better form of money in a free ma…

Though the catch is that gold itself does not have any purchasing power in the real world. You have to trade it for real currency before you'll be able to pay for other goods and services. Additionally it doesn't actually provide you with a fixed income, like you can with cash in an interest bearing account, or with shares in companies that pay a dividend. Suffice to say now would be an excellent time to turn gold in…

I disagree of course. Even 3% inflation is more than most people get in interest. But, of course, the good old days of 3%, or even 6% inflation are firmly behind us, aren't they?

What burns me is the capital gains tax, which, even in the best of times, is a slap in the face. But now, as we enter this period of extremely high inflation, anybody lucky enough to not be in cash, is promptly charged a nice fat capital gains tax the instant they convert their asset (gold/land/etc) into the inflated currency. Now, even if you are a good socialist and believe in capital gains taxes, I wonder how you feel when there's been no real gain at all? When all you did was preserve what used to buy a loaf of bread, so that you could still buy a loaf of bread after the inflation, and even then, are deemed worthy of confiscation.

My $0.02.

Post reply on HN