Oil Prices tumbling ...

IanSavage

TTony said:

Reverend said:

Why do conspiracy theorists and survivalist types seem to love gold so much?

Because it's seen as a persistent store of value that is reasonably stable in supply.

Although it has little intrinsic value (ie it's of no real use, other than decoration), gold has been "valued" for just about forever - Egyptian pharoahs being entombed with golden artifacts for example.

Thus, think the conspiracists and survivalists, should the world socio-economic order break down, gold will still be valued, probably more so than any of today's paper currencies (which used to be backed by gold).

Very low-resistance electrical connectors. Apparently a surprising amount of gold to be found in some higher-end consumer electronics.

thomasross20

Gold bond wires used in a lot of our products. Maybe worth a penny lol

bingefeller

119p per litre at my nearest Tesco.  We have Go petrol stations and it's about 116p.

VimFuego

the main advantage of pegging a currency to something tangible like gold is it prevents money creating organisations from printing as much money as they like. When you create too much money you lessen the value of the existing money supply. It's interesting to note that the Chinese and Russian governments are actively increasing their gold supply.

johnnyurq

Evilmags;429547" said:

At least it defunds assholes like Putin and Maduro

Amen!

And by all accounts by a fair margin more than the sanctions to date for Putin.

littlegreenman

TTony said:

Although it has little intrinsic value (ie it's of no real use, other than decoration), gold has been "valued" for just about forever - Egyptian pharoahs being entombed with golden artifacts for example.

Thus, think the conspiracists and survivalists, should the world socio-economic order break down, gold will still be valued, probably more so than any of today's paper currencies (which used to be backed by gold).

IanSavage said:

Very low-resistance electrical connectors. Apparently a surprising amount of gold to be found in some higher-end consumer electronics.

And let's not forget the GASsers!

http://www.guitarguitar.co.uk/large/130/14112612271232f.jpg

And the odd bit used here and there in space stuff:

http://upload.wikimedia.org/wikipedia/commons/5/56/The_Sounds_of_Earth_Record_Cover_-_GPN-2000-001978.jpg

Evilmags

Gold is essentially what thousands of years of societal evolution settled on as money. It is rare, divideable, has a strictly limited supply and does not degenerate over time. FIAT currency is the result of state intervention in money, and historically speaking was embraced so politicians could spend money on warfare and later welfare. Money was not fully nationalised in the UK untill the 1930s, when the BoE came under full state control.

stickyfiddle

And the engine bay of McLaren F1...

https://c1.staticflickr.com/7/6072/6051190413_7e035f6edf_z.jpg

As for prices, everyone hates Russia right now and they need a price over $100 to keep their budget balanced, so the rest of the world is happy to let it tumble to screw them over a bit. Saudi apparently needs something circe $83 to balance their books, so things might start getting slightly tricky if it keeps dropping, but there's only so much oil in the world and still a shitload of demand so it won't drop forever.

Evilmags

A major war started by Putin would cost the Saudis more than two or three years of low oil prices. They have huge reserves and can fund it for a lot longer than Putin, Maduro ect can. Once Europe gets fracking then Putin's hold on gas markets goes as well.

Sambostar

I think Putin as got a bad rap by the west.  I'd be willing to lend him $100 if it will set things right.

Not giving the Saudis $83 dollars though, oh no, no way, I'II go out and spend it on chips instead.

holnrew

stickyfiddle said:

And the engine bay of McLaren F1...

I thought we were talking about Fiat.

Evilmags

Sambostar;430741" said:

I think Putin as got a bad rap by the west.  I'd be willing to lend him $100 if it will set things right.Not giving the Saudis $83 dollars though, oh no, no way, I'II go out and spend it on chips instead.

To be honest I'm happier about the threat it poses to Venezuela's government

thomasross20

I was in Aberdeen this weekend. It was howling wind and rain on Saturday night and put my girlfriend off ever moving there for work, no matter the money! Must admit it was pretty grey... shame as the company is a good 'un!

Evilmags

Tom, Aberdeen and edinburgh weather are not that different. Both cold and wet.

Flanging_Fred

Reverend;429541" said:

Why do conspiracy theorists and survivalist types seem to love gold so much?

It's the only thing that can kill old style cybermen. Very handy to have around.

VimFuego

and silver's pretty top notch for werewolves. In the event of a post apocalypse world inhabited by old style cyber men and lycanthropes, then your precious metal loving survivalist is gonna be well set up.