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Inflation getting you down?

Discussion in 'Off-Topic' started by stillman, Jun 23, 2013. | Replies: 25 | Views: 1696

  1. stillman

    stillman IncGamers Member

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    More like getting your savings down. Here in Halifax, minimum wage increased three times in recent years, causing food prices to increase dramatically. Yesterday, I went and bought some gold. It was a long walk in the sun to buy gold coins, just like in a Western. It's sad because I have no choice but to become a character in a Western, lol.

    The Canadian dollar is backed by the USD (oh dear). Canada also sold off all its gold reserves (gulp). I feel more secure with gold now, though I wish I had made the move a few years back. Are you guys doing anything to protect your earnings from inflation, and did you feel forced into it?

    Also, any advice for new gold buyers? Should I buy a cloth sack and a cowboy hat too?
  2. Vivi

    Vivi IncGamers Member

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  3. Stevinator

    Stevinator IncGamers Member

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    The thing that bugs me the most is the rapidly increasing cost of beef. When we were kids, beef was so cheap relative to everything else, we could grill out all the time, we had steak multiple times a week. Now, even cheap cuts are many times more than chicken and pork.

    Sirloin goes for like $8/lb when on sale. Boneless, skinless chicken breasts 1.99/lb pretty much daily, boneless thighs are the same, pork is ~3.99/lb for tenderloin. What happened to beef?
  4. Vivi

    Vivi IncGamers Member

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    Meat is the most environmentchallengy thing to produce, so I guess it gets worse. Maybe eat less meat.
  5. BobCox2

    BobCox2 IncGamers Member

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    When My meat gets inflated action need to be taken to send it back down.
    Happily It can be self inflected.

    (OK - thats 3 comments like that in a row you girls need to stop sending me the straight lines like that or I'm going to have to do something about this...)

    I may have to take matters into my own hands.
  6. Vivi

    Vivi IncGamers Member

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    You're talking about personal growth rather than economic.
  7. BobCox2

    BobCox2 IncGamers Member

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    :D

    Yes
    Yes I was...
    :D
    Your witty even if thin skinned.
  8. Vivi

    Vivi IncGamers Member

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    Thanks. *blushes*

    Your personal growth is not going to help Stevinators' meat problem, which is of a different nature. He's been explicit enough about it.
  9. BobCox2

    BobCox2 IncGamers Member

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    :D

    We can all dream...


    Wishing you Peace and good Dreams with no pain.

    They keep you going these days I know Vivi
    Last edited: Jun 30, 2013
  10. Technomancer

    Technomancer IncGamers Member

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    That makes me think of one of the newer Beavis & Butthead episodes!

    To skip through, watch the first 1:30, then skip to 9:30 - 11:30.

    ...the answer was always with us...
  11. jmervyn

    jmervyn IncGamers Member

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    Strange, usually I'm the one accused of over-egging the fapudding.

    Back to topic: Vivi, the problem with beef isn't that the cattle farts are somehow making it more expensive as well as causing environmental catastrophe in the feverish dreams of the Watermelon/Granolacrat crowd. It's that the prices of corn are increasingly stupid because of the Gov't making allowances for non-existent environmental problems (note - article is Leftist and inaccurate, but a helpful view at the same problem from my opposition).

    If this was Europe, there might be more credible concern about supply - after all, first there was Chernobyl and then there was Mad Cow. But here in the good ole' USA we only have ourselves to blame (for re/re/re/electing such a collection of cretins).
  12. BipolarChemist

    BipolarChemist IncGamers Site Pal

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    Now this is just what I've heard from a couple of sources (mostly the news on TV) and from a few industry workers, but gold is low right now but it has a chance of not bouncing back too much.

    The demand for gold is down because it isn't needed as much in industry anymore, as cheaper and better alternatives are being found. This means that gold is mostly used for just jewellery and non essential items. This causes an excess of Gold, dropping the price of gold. I'm also possibly talking out of my ***, but I would recommend seeking some legitimate sources and people before buying a lot of gold, and informed investment is always a much better investment.
  13. Pixie

    Pixie IncGamers Member

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  14. Vivi

    Vivi IncGamers Member

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    Dear, I NEVER mentioned any farts of beef. I said meat is troublesome to produce environmentwise. That doesn't limit to farts, even I know that! Don't make me say things I didn't say, that's not fair.
  15. BobCox2

    BobCox2 IncGamers Member

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    A common Complaint about JMervyn, my dear.
    :D
  16. Vivi

    Vivi IncGamers Member

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    Yeah well, the thing that can get me really ragingly angry is when people tell me what they think I've said, which is only fine when it's true, but not if they make it up as they go along. Same thing with when they tell me how I must be feeling or what I should be doing. Guess that comes with being raised by a tyranny - I don't want to put up with it any more and I will lash out.
  17. stillman

    stillman IncGamers Member

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    Fear not, Vivi. I think it's just part of the frenzy against the great decline of our generation. Can't blame him for being frustrated. We are all trapped in the same soup of tyranny.

    Imo, there are no "legitimate sources." Maybe there never were. Our whole money system is a facade, my job is a giant network of lies, yours probably is too, and we can only march along with the lies to survive. You literally can't trust anyone anymore, and every system is set up against us. Even if what you say about gold is true, I'm losing anyway by not buying it. Since 2007, food has gone up such that my savings have been devalued maybe by as much as 30%. So I've essentially lost thousands just by keeping my money in a bank. What have I got to lose?

    Gold has been a relatively stable store of wealth for hundreds of years, so odds are good it will remain so. Even if gold remains low, most people buy it to simply protect their wealth, not make a huge profit.
  18. Technomancer

    Technomancer IncGamers Member

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    It isn't "needed" as much in industry anymore because industry has been forced to not use it anymore. Day-traders and dooms-dayers bought it all, creating a massive bubble that has now deflated *some*. The real world value of gold probably isn't even half of what it still currently trades at. It still has superior uses, like in electronics, but outside of bling value for rip-off cables, no companies use it anymore because commodities traders have made it ridiculously expensive, not because of better alternatives.

    (note: gold prices piss me off because as an electronics enthusiast and technologist in general, it has had a negative impact on the quality and reliability of goods. The same thing has happened to other metals: silver, copper, tin, etc, making things more expensive and forcing companies to cut other corners to maintain prices so a bunch of paranoids can pretend that gold will actually buy them something useful in the post-apocalypse they're sure is just around the corner. I've been rolling around on the floor laughing at the plummeting gold prices honestly.)

    I don't know what gold is going to do, but it's still grossly overvalued.
  19. krischan

    krischan Europe Trade Moderator

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    Of course, if there's nothing to buy, a currency makes no sense. I agree that after WW3, you need land, cattle, tools, a family or friends and weapons in the first place, but gold is certainly useful if you produce more than you need yourself, to be saved for times when you need help while others have a surplus.

    The reason for the current gold price isn't speculation, but less trust in other investments, like bonds. Apart from that, gold has a lot of its value from being coveted for its own sake since the dawn of mankind. That's not a bubble, but more a kind of balloon which inflates and deflates as time goes by.

    Gold isn't overvalued, it's currently just more useful for locking it up in a safe place than it was before. Besides, the gold price in dollars has fallen by one third in the last 3 months.
  20. stillman

    stillman IncGamers Member

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    Techno, most gold buyers aren't anticipating an apocalypse; they are protecting their wealth from the devaluing cash, as people have done successfully many times before. Every fiat currency in history has become worthless paper. I guess I'm paranoid about swimming in lava too, since that also has a 100% failure rate.

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