".....and i have converted into mini gold bars in the 1980s when i closed my account. Of course now in the bank's safety box. Just wonder can withdraw in time of emergency....."
In time of emergency, if u need help to cart the gold bars from the bank to home, do let us know. Many hands make light work, but no guarentee the tonnage will tally. hehehe
(11-04-2012, 10:41 AM)shanrui_91 Wrote: [ -> ]anything can happen, perhaps you want to jot down the exact number and weight of gold bars you have
http://www.brandrepublic.com/news/225809/
Yes! i remember this incident/accident that happened in HK.
Good suggestion. Nothing is guaranteed except taxes & death.
In fact, common sense tell us to catalogue all our worthy material possesions.
But common sense is actually not so common after all. It is not easy to overcome the force of natural inertia in us. That's why you have your house title deed and .........by laws.
chey, i thought it was in tonnes
Person with envy will end up no where good even when he manages to accumulate.
if really end of fiat money repercussions are going to be great and far beyond anybody's imagination. Even though there's many problems now in the usa, all the commodities, food everything in the world is priced in USD the whole world is buying and selling usd for use to trade in all these commodities. Using fiat money is the world order that we live in. Changing the system means a default on that world order and it will be the end of american influence as a superpower if people stopped buying greenbacks. Nah it will never happen .. will it?
I think it may. Is American National Security concerns and so you will expects a lot of secret actions they would take to make sure it won't happen. At least slow it down long enough.
(10-08-2012, 09:37 AM)sgd Wrote: [ -> ]if really end of fiat money repercussions are going to be great and far beyond anybody's imagination. Even though there's many problems now in the usa, all the commodities, food everything in the world is priced in USD the whole world is buying and selling usd for use to trade in all these commodities. Using fiat money is the world order that we live in. Changing the system means a default on that world order and it will be the end of american influence as a superpower if people stopped buying greenbacks. Nah it will never happen .. will it?
Where got enough gold to back all the assets in the world?
It's either the gold appreciated to take over the world or the world's assets depreciated to match the gold hoard?
Total gold minded currently at current valuation is estimated to be around US$10 trillion.
The total revenue per year for top 500 global is already US$29.5 trillion.
FORTUNE editors report: “Despite financial turmoil in Europe and disasters in Japan, the world's largest corporations had record profits and revenues in 2011.” FORTUNE Global 500 companies posted record revenues of $29.5 trillion, up 13.2% over 2010. Total profits rose 7%, to $1.6 trillion, roughly equal to the gross domestic product of India.
That auntie from Barrons is seriously writing rubbish.
Unless the government refused to honour the debt, there is always a worth to the currency.
It is just that the currency may be depreciated if they print and print more money.
I don't think fiat money will go away, probably just another fiat money replaces the current fiat money.
I don't know any government allows gold to be a currency in the normal commercial trade.
