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This topic is for all general discussion regarding the current COVID-19 pandemic. There are of course numerous other related topics for discussing specific aspects of this pandemic in more detail. And there are other parts of this forum for more 'off-topic' discussions.

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12 minutes ago, DarianF said:

 

It all went to shit in 1971. Thank Nixon for that.

No thank the bandit's that got the key's to fort knox, Nixon probably went for a visit and said some thing like "ohh crap does this mean we're broke"

Edited by bobb
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29 minutes ago, KingKitty said:

Are bats that tasty? There can't be much meat on them, to begin with, and why would you even bother eating the wings? Maybe if they were to be deep fried. Hell, anything taste good deep fried. Still, I'll take a pass on this one.

5e29b3ae2030274bc50360af.jpg

How drunk would one have to be to even think about slurping from this bowl?

 

In case anyone wants to try for themselves:

Bat Soup recipe

Ingredients
3 - 4 fruit bats, well washed but neither skinned nor eviscerated
water
1 Tbsp. Finely sliced fresh ginger
1 LARGE onion, quartered
garlic and lots of it !!!
sea salt to taste
Chopped scallions
soy sauce and coconut milk / cream

 

homer.JPG

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15 minutes ago, Saved said:

I don't understand economics but could you put that (fiat being backed by imagination) in simple terms please?

 

 

I would explain it like this....

 

Gold was literally money prior to us going off the Gold standard.

 

What bank notes were, essentially, promissory notes - so you didn't have to carry around a load of gold with you, or have to chisel bits off.

 

In the 1970s we went off the gold standard.

 

So your money which was literally gold, literally disappeared, just like dat. And now it is a representation of essentially nothing.......

 

And yes, they just took the gold (your money) and gave you imaginary money in it's place......

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Just now, Mr H said:

I would explain it like this....

 

Gold was literally money prior to us going off the Gold standard.

 

What bank notes were, essentially, promissory notes - so you didn't have to carry around a load of gold with you, or have to chisel bits off.

 

In the 1970s we went off the gold standard.

 

So your money which was literally gold, literally disappeared, just like dat. And now it is a representation of essentially nothing.......

 

And yes, they just took the gold (your money) and gave you imaginary money in it's place......

This is a better description than my rambling effort

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Just now, DarianF said:

If Nixon happened to find a leftover kilogram bar, it would be worth over $50,000 today, in his fiat currency value. I'm sure there were a few leftover that were 'seized under presidential orders' ;-)

In fact all the gold ever dug out the ground still exists.

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21 minutes ago, Saved said:

I don't understand economics but could you put that (fiat being backed by imagination) in simple terms please?

 

 

 

Basically, in the ancient world you would buy your goods and services by weight of gold or silver. For example, and ounce of gold may buy you 20 goats. There was no 'dollar' amount.

 

Then when bank notes came along, in the USA for example, your paper was backed by an exact amount of gold that you could claim from the bank at any time. It actually said on the note something like 'x amount of gold payable to the bearer of this note on demand'.

 

Then long story short, after a few adjustments along the way, President Nixon took the USA off the gold standard. i.e. Your paper money was literally from 1971 onwards, backed by zero gold. Nothing. You couldn't trade your paper for anything physical in terms of precious metal. That means it became 'fiat'.

 

And the fact that the whole world was linked to the US dollar, which used to be backed by physical gold, meant the whole world by default also became backed by nothing. Just printed money.

 

Hopefully I got that about right. Feel free to correct me, anyone.

 

@Saved in my view the best video series to explain it all in simple terms is this one (full playlist below) --->

 

https://youtube.com/playlist?list=PLE88E9ICdiphYjJkeeLL2O09eJoC8r7Dc

 

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6 minutes ago, bobb said:

In fact all the gold ever dug out the ground still exists.

 

Unlike silver and platinum, especially silver, which is largely used and discarded/wasted. Yes it techincally still exists, but doesn't get hoarded on the same scale as gold. If I had to make a prediction, silver will one day be far more valuable because of its wide industrial usage and dwindling supply. Not my original thought; many people pointing this out these days.

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1 minute ago, DarianF said:

 

Unlike silver and platinum, especially silver, which is largely used and discarded/wasted. Yes it techincally still exists, but doesn't get hoarded on the same scale as gold. If I had to make a prediction, silver will one day be far more valuable because of its wide industrial usage and dwindling supply. Not my original thought; many people pointing this out these days.

It is, I like your thinking.

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1 minute ago, bobb said:

It is, I like your thinking.

 

I think the Silver Institute has the best tracking of the supply/demand issues with silver [ https://www.silverinstitute.org/ ]. The WPIC probably has the best platinum data [ https://platinuminvestment.com/ ]. Gold as you would know has some industrial usage, but compared to the other two it's tiny. Gold mostly gets hoarded as wealth / protection against inflation.

 

Hey @Saved, if you're curious about the silver issue, watch some interviews with Keith Neumeyer (head of First Majestic Silver). In my view, he really nails the fundamentals regarding supply/demand.

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14 minutes ago, DarianF said:

 

Unlike silver and platinum, especially silver, which is largely used and discarded/wasted. Yes it techincally still exists, but doesn't get hoarded on the same scale as gold. If I had to make a prediction, silver will one day be far more valuable because of its wide industrial usage and dwindling supply. Not my original thought; many people pointing this out these days.

I don't think silver will be more valuable, would have to make some serious noise! THink it's about 10 trillion behind in MCAP.

 

But the Gold/Silver ratio at the moment is ridiculously favourable at the moment and the gap in the ratio will most likely close somewhat because of the industrial applications for the green new deal.

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3 hours ago, Golden Retriever said:

 

Almost every single time, especially in the media.

Background

Stadlen was born to Sir Nicholas Stadlen, a High Court judge, and Frances Stadlen in London. He is the grandson of concert pianist Peter Stadlen and Hedi Stadlen, the activist and musicologist, both Austrian Jews born in Vienna

 

https://en.wikipedia.org/wiki/Matthew_Stadlen

 

Matthew Stadlen on #Back2School Bullying (Anti-Bullying) - YouTube

One of the tribe again. I don't know how Storm copes on that vine show. It's cringeworthy daytime crap on the telly....they regularly slag off anti vaxxers 

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2 minutes ago, Mr H said:

I don't think silver will be more valuable, would have to make some serious noise! THink it's about 10 trillion behind in MCAP.

 

But the Gold/Silver ratio at the moment is ridiculously favourable at the moment and the gap in the ratio will most likely close somewhat because of the industrial applications for the green new deal.

 

Sorry I didn't mean more in dollar value necessarily, I should have said more valuable in terms of people will realise its industrial value much more than they do now. I think at the moment it is ridiculously undervalued. I actually thought it would have broken out by now. If we have hyperinflation, then it will go nuts like Zimbawe and Germany in the old days and by that point numbers won't mean JackS. Hopefully it doesn't come to that but the insane money printing going on lately has to go somewhere. It's not sustainable, despite what all the whack job central bankers say.

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6 minutes ago, Mr H said:

I don't think silver will be more valuable, would have to make some serious noise! THink it's about 10 trillion behind in MCAP.

 

But the Gold/Silver ratio at the moment is ridiculously favourable at the moment and the gap in the ratio will most likely close somewhat because of the industrial applications for the green new deal.

Well value is for the most part dependent on the environment that it finds itself in, the old saying where there's muck, there's brass, and i think this whole scamdemic/plandemic is a function of the economic crisis looming large which brings this subject nicely back into line with the topic thread.

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1 minute ago, DarianF said:

 

Sorry I didn't mean more in dollar value necessarily, I should have said more valuable in terms of people will realise its industrial value much more than they do now. I think at the moment it is ridiculously undervalued. I actually thought it would have broken out by now. If we have hyperinflation, then it will go nuts like Zimbawe and Germany in the old days and by that point numbers won't mean JackS. Hopefully it doesn't come to that but the insane money printing going on lately has to go somewhere. It's not sustainable, despite what all the whack job central bankers say.

Agree. In a world where all financial assets are in a bubble - silver is the most undervalued asset around as a ratio of other assets.

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Just now, Mr H said:

Agree. In a world where all financial assets are in a bubble - silver is the most undervalued asset around as a ratio of other assets.

And more money was made during the gold rush in the states selling bucket's and shovel's than the gold found.

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Let us never forget that all of those "scientific studies" claiming that they have isolated this  virus or any of its variants  have done so in-silico

 

Not in a human being - "in -vivo"

 

Not in a  glass dish  - "in-petri"

 

But on a fkn computer screen. In silicon.

 

the latin is of course retained and the empire never ended.

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54 minutes ago, DarianF said:

If Nixon happened to find a leftover kilogram bar, it would be worth over $50,000 today, in his fiat currency value. I'm sure there were a few leftover that were 'seized under presidential orders' ;-)

 

Or if it was a 400 ounce bar, which happended to be still knocking about, that would be three quarters of a million US dollars.

 

57a028d6dd0895d1788b4735?width=600&forma

 

 

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