Of the questions you pose... the only relevant answer is that gold was valued in that time...
The reason gold is held in vaults is that it has value... as a metal. I didn't say it has no value. I said it has no bering on the value of currency. Governments keep strategic reserves of crude oil as well. Because there is economic value in having it as well as strategic value. As far as how much gasoline you can buy with an ounce of silver... I'll say it again... it has to do with the appreciation or stability in the commodity price of silver. None of these commodities have pegged monetary values. Their price is set daily on futures markets... and the price is based solely on what traders perceive to be the supply and demand of those items. Again, not the actual demand... the perceived demand.
People often sit here and complain about the price of gas rising while the price of crude has been steadily falling... and nobody seems to be able to explain why. The answer is really quite simple. There's more perception of demand for gasoline at that particular time because that's the game someone is playing today. I sit here and watch the market somewhat, at a distance... and I don't play... because I have no desire to lose money at it. It's nothing more than organized, legalized gambling in my mind. For every winner there is a loser somewhere else.... and the odds are stacked in favor of the ones who have enough weight to shift the market.... or who at least quickly realize the trend and get out before it tanks. Reality in this game is that the market has to cycle up and down for the players to make money... and if you're not one of them you're probably not the one making the money.
You can go on buying gold or silver or whatever you like... but reality is this. If/when the crap hits the fan, the government of the day will find a way to get your gold the same way the government of Greece has raided bank accounts in that country so they can write down some bad debt... so don't think you'll be immune.
I tend to think that if there is a widespread collapse your gold won't really be worth a whole lot. If someone is starving they'll have more need for food than gold... or oil... or tools to grow food. Gold wouldn't be high on my priority list.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
