"Gold Is Money And Nothing Else" - J.P. Morgan quote from 1912

GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
edited April 4 in About Gold
"Securities do not always prove good", "Money is gold, and nothing else" - J.P. Morgan quotes from 1912

Currency comparison of the day: Gold vs. Colombian Peso $COP (data as of today's (04/04/2017) price of gold)

Gold has outperformed the Colombian Peso by 426% over the last 15 years making gold the best store of value for longer term savings.

To know how gold has performed to your local currency check the below link.

https://www.goldmoney.com/live-prices
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Comments

  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    @GoldIsCurrency I'm playing off of the first quote until the inevitable market crash. Better to be early than late. Maybe I'll be able to buy a house with a few ounces of gold in a few years.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @ike11ike You are right, the market is rather bubbled up. As history has proven gold is one of the few things that hold's good value over time. Safest place to save as the math proves.

    Purpose of this thread is for people to get a better understanding how gold performs over different currencies.
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    @GoldIsCurrency "Purpose of this thread is for people to get a better understanding how gold performs over different currencies."

    Yes of course. I tend to digress.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 5
    @ike11ike Oh no, please don't take it like that way my friend. I was just saying I decided to start this thread as I tend to feel most people in the world have no clue how gold performs to their own local currency. Everyone looks at gold compared to USD. If you don't live in USA and don't hold USD then who cares how gold performs against USD? I am stating the obvious for some people but other people are not aware at all of how their homeland currency performs.

    This thread may be annoying as stink to some but I am going to hammer this nail till more people understand it. This is the Cadbury secret so to speak in regards to gold. This is in my mind the largest selling point for Goldmoney, what this platform represents and should be the selling point of focus.

    Currency comparison of the day: Gold vs. Russian Ruble $RUB (data as of today's (04/05/2017) price of gold)

    Gold has outperformed the Russian Ruble by 648% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    @GoldIsCurrency Gotcha gotcha. That is an important point. I live in my USD bubble.
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    edited April 5
    @GoldIsCurrency Performance and currency in the same sentences generally never crosses the mind of the sheep herd.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @ike11ike You got that right. It also doesn't come up so often in interviews on TV either.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    edited April 5
    @GoldIsCurrency The title is correct, but your quote in the text is flipped. This is a common "error".

    GOLD IS MONEY, AND NOTHING ELSE

    Absolutely one of my favorite quotes. I also like the variant "Gold is money, everything else is credit", even if this is NOT what J. P. Morgan actually said.

    http://www.barrypopik.com/index.php/new_york_city/entry/gold_is_money_and_nothing_else_gold_and_silver_are_money_everything_else_is/
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @GoldIsCurrency I rarely disagree with anything you say … and surprise … I don't disagree now. B)

    I see Goldmoney Inc. as a great international store of wealth. The US with its past and current BIG DOG financial position is not necessarily the best lense through which to view Goldmoney Inc. but that might change if Rickards, et al. are proven correct.
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    "A $2.99 trillion war chest or a $3 trillion war chest sounds like plenty. But as Jim Rickards explained recently, it’s not nearly as much as it sounds: Of the $3 trillion that China has left, only $1 trillion of that is a liquid. One trillion is invested in hedge funds, private equity funds, gold mines, et cetera. That money is not liquid. It cannot be used to support the currency, so remove a trillion. That leaves $2 trillion: Another trillion has to be held on what’s called a precautionary reserve to bail out their banking system. The Chinese banks are completely insolvent. That system is going to need to be bailed out sooner rather than later. Scratch another trillion: That leaves only $1 trillion of the original $4 trillion in liquid form. The problem is that capital flight is continuing at a rate of $1 trillion per year, so China will be devoid of usable liquid assets by late 2017. Repeating: Two-thirds of China’s reserves are doing other service. About $1 trillion remains"

    -I keep coming back to this
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 5
    @79Au197 Hey Chris, glad to hear that and I hope all is well with you GMH! You got it, Goldmoney is a great platform backed by the international store of wealth. I look at gold as the Global currency and everything else is just paper with numbers on it backed by governments with a bunch of promises and we all know how promises usually end up.

    Every once in a while I have done random tweets about the performance of gold compared to a government issued currency and have seen some activity on those tweets. A kind fellow in twitter world asked me how gold has performed to the Euro. Generally speaking, the vibe I get is that most people don't know how their local currency performs in comparison to gold.

    With that said I will play a game of spin the Globe and keep updating this thread with new currency comparisons. I STILL find it shocking how extremely different each currency compares to gold over longer duration's. Depending on which country a person resides in can drastically change their overall long term wealth if they just leave their time and hard labored earnings in paper (fiat currency). That doesn't sit right with me and hardly seems fair. At least with gold your time and money is saved in historically valued money with real intrinsic value and fair for people who live in a country where their government may be out of control and experiencing a higher rate of currency erosion.

  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    Currency comparison of the day: Gold vs. British Pound $GBP (data as of today's (04/06/2017) price of gold)

    Gold has outperformed the British Pound by 378% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    @GoldIsCurrency What is this outperformance based on?
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 6
    @ike11ike How much gold the stated currency would purchase 15 years ago versus now. The numbers show how gold holds its value over longer periods of time while currencies purchasing power erodes over time. Some currencies erode much more rapidly than other currencies.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 6
    An example of the worst performing currency that I am aware of is the Venezuelan Bolivar. Their situation has become tragic on many levels. My heart goes out to all Venezuelan's suffering from the level of hyperinflation where everything has become completely out of hand to the degree of insanity. The bare basics of food has become extremely difficult to obtain. I have read many stories around the dire situation that just blows my mind. I read an article not long ago about fishermen being shot and killed at sea for their "catch" it shows how insane the situation has become.

    Gold has outperformed the Venezuelan Bolivar by more than 4500% in the last 15 years as their currencies purchasing power tumbles.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭

    @ike11ike Oh no, please don't take it like that way my friend. I was just saying I decided to start this thread as I tend to feel most people in the world have no clue how gold performs to their own local currency. Everyone looks at gold compared to USD. If you don't live in USA and don't hold USD then who cares how gold performs against USD? I am stating the obvious for some people but other people are not aware at all of how their homeland currency performs.

    This thread may be annoying as stink to some but I am going to hammer this nail till more people understand it. This is the Cadbury secret so to speak in regards to gold. This is in my mind the largest selling point for Goldmoney, what this platform represents and should be the selling point of focus.

    Currency comparison of the day: Gold vs. Russian Ruble $RUB (data as of today's (04/05/2017) price of gold)

    Gold has outperformed the Russian Ruble by 648% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices

    Thought I would spin the globe back to Russia from the other day. With the events last night in Syria the Ruble took a hit in value mixed also with the the upward movement in gold last night it changed the performance of gold over the Ruble. On April 5th Gold's 15 year performance over the Ruble was 648% and this morning that 15 year performance has changed to 672%. A significant change for just a couple of days.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 8
    Since I read an interesting article from Schiff Gold in regards to Turkey I thought I would provide this as an example.

    Currency comparison of the day: Gold vs. Turkish Lira $TRY (data as of today's (04/08/2017) price of gold)

    Gold has outperformed the Turkish Lira by 32% over just the last year.
    Gold has outperformed the Turkish Lira by 60% over the last 5 years.
    Gold has outperformed the Turkish Lira by 409% over the last 10 years.
    Gold has outperformed the Turkish Lira by 1095% over the last 15 years. Representing significant currency erosion over the longer term. Making gold the best store of value for longer term savings.

    Schiff Gold article on Turkey.
    Turks Buying Gold, Uncertain of Their Political Future
    https://schiffgold.com/key-gold-news/turks-buying-gold-uncertain-political-future/?utm_source=twitter&utm_medium=social&utm_campaign=bigwing-twitter-schiffgold&utm_content=turks-buying-gold-uncertain-political-future

    "With all of the uncertainty surrounding the vote and a shaky monetary system, Turks are starting to buy gold in large quantities. Turkish gold imports surged 17-fold to 28.2 tons in March, according to a Reuters report, as Turks seek out the safe haven inherent in precious metals."

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices

  • tomartotomarto Posts: 97 Copper ✭✭
    Gold is the money of kings,,[ us ]; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves."
    -- Norm Franz

    "Governments lie; bankers lie; global corporations lie ,auditors are the masters of the convenient lie: Gold is the truth."
    **** Tomarto
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 10
    Currency comparison of the day: Gold vs. South African Rand $ZAR (data as of today's (04/10/2017) price of gold)

    Gold has outperformed the South African Rand by 422% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 11
    Currency comparison of the day: Gold vs. United States Dollar $USD (data as of today's (04/11/2017) price of gold)

    Gold has outperformed the USD by 322% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    Currency comparison of the day: Gold vs. Argentina Peso $ARS (data as of today's (04/12/2017) price of gold)

    Gold has outperformed the Argentina Peso by 167% over the last 5 years.
    Gold has outperformed the Argentina Peso by 826% over the last 10 years.
    Gold has outperformed the Argentina Peso by 2152% over the last 15 years. Representing significant currency erosion over the longer term, making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • GoldmattersGoldmatters Posts: 3,551 Admin
    @GoldIsCurrency thanks for your continued effort GMH!
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @GoldMatters Doing my best GMH. Soon I am going to fly a skywriter over Toronto and write a big ol Goldmoney.com in the sky. ;)
  • GoldmattersGoldmatters Posts: 3,551 Admin
    @GoldIsCurrency now why didnt I think of that? :).
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    @GoldMatters I have a lot of idea's. Some of them actually keep me up at night.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 13
    Currency comparison of the day: Gold vs. Mexican Peso $MXN (data as of today's (04/13/2017) price of gold)

    Gold has outperformed the Mexican Peso by 9% over the last 5 years. (surprisingly not so bad)
    Gold has outperformed the Mexican Peso by 220% over the last 10 years.
    Gold has outperformed the Mexican Peso by 768% over the last 15 years. Representing significant currency erosion over the longer term, making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    edited April 14
    Currency comparison of the day: Gold vs. Ukrainian Hryvnia $UAH (data as of today's (04/14/2017) price of gold)

    Gold has outperformed the Ukrainian Hryvnia by 159% over the last 5 years.
    Gold has outperformed the Ukrainian Hryvnia by 923% over the last 10 years.
    Gold has outperformed the Ukrainian Hryvnia by 2061% over the last 15 years. Representing significant currency erosion over the longer term, making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
  • ike11ikeike11ike Posts: 143 Bronze ✭✭✭
    Dump all paper outside of your day to day needs spending #phonyfiat
  • tomartotomarto Posts: 97 Copper ✭✭
    IS GOLD BETTER THAN SEX ? IS THIS DEPENDENT ON HOW MUCH WE GET ? AS GOLD IS MONEY .
  • GoldIsCurrencyGoldIsCurrency Posts: 1,724 Gold ✭✭✭✭✭
    Currency comparison of the day: Gold vs. Indian Rupee $INR (data as of today's (04/15/2017) price of gold)

    Gold has outperformed the Indian Rupee by 462% over the last 15 years making gold the best store of value for longer term savings.

    To know how gold has performed to your local currency check the below link.

    https://www.goldmoney.com/live-prices
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