Why would anyone want gold standard?

[kevsta]

No offence taken. If you want to base your opinions on propaganda produced by a person who quite obviously has a vested interest in not telling you the truth, that's your funeral. Why should it bother me?

Do you also believe what politicians tell you without bothering to do your own research?

Your username is a joke, my friend. You are no "central scrutinizer".

Instead of "taking his analysis over mine", why don't you provide your own? Why not actually do your homework on peak oil and come to your own opinion. You have not done this, or you would understand what is wrong with the quote above.

The above is a "straw man" if it is supposed to be a response to peak oil theory because peak oil theory is about (wait for it...) PEAK oil, not "the world running out of oil." Do you understand the difference?

peak oil or no peak oil, the important thing is that peak cheap oil has already passed.

we are now playing the EROI game, and many people don't get this yet. they will in time.

 

[UndercoverElephant]

peak oil or no peak oil, the important thing is that peak cheap oil has already passed.

we are now playing the EROI game, and many people don't get this yet. they will in time.

Exactly. A vast proportion of the oil that existed inside the Earth 100 years ago is still there now and will remain there forever for the simple reason that it is buried so deep that it takes more than one barrel's worth of energy to pump one barrel to the surface. At that point it does not matter how much a barrel of oil costs, it will never be worthwhile trying to get that oil.

The era of cheap oil is well and truly over. If it wasn't for the banker-created monetary/economic chaos then the price would be stuck around $150 a barrel and drifting higher, strangling the global economy.

 

[ZouPrime]

I completely disagree. Gold is not in a bubble. It is so far from being in a bubble at this point it is a joke. it is impossible for something to be in a bubble, without major public participation, and without institutional money being involved

Hum, no? It doesn't have to? I don't know how to answer this differently. This has nothing to do with how much gold is part of portfolio.

do you mean deflation?

Yes, sorry, lost in translation.

my mum has some small savings. is it ok to steal it directly out of her account to pay for bankers mistakes by way of inflation?

It's a better situation for her than being in a country where investment is very rare because the rich don't have to risk their money. Such a situation wouldn't lead to a very wealthy society overall. Also, nothing stops your mom from doing what the rich do right now, i.e. investing against the inflation. Considering how low it is, that's not a very difficult prospect.

"the rich" - by the end of this cycle, lots of people who thought they were rich with imaginary wealth, will no longer be. people who are ahead of the curve always do better than the less sighted, its the way of the world.

For some reason you're not even trying to address my argument.

 

[Mark6]

Making it a currency pretty much out prices it from industrial use, and for what? Because some people think it's pretty? All of it's "intrinsic values" make it a somewhat useful industrial metal. Can't you find a substance with barely any market to turn into your miracle currency?

Thulium

 

[WildCat]

TL;DR: when **** really hits the fan, gold will not get you very far. If you are afraid of societal collapse, invest either in equipment or learning skills that are useful instead of shiny, yellow metal that nobody really needs.

In that scenario guns are a far better investment than gold ever could be.

 

[WildCat]

"you cannot eat it" one of my favourites. and well actually you can, but that's not important. it's no more or less nutritious than paper though is it?

granted you can at least burn paper for warmth. but I bet I could swap gold for way more paper to burn.

Why would anyone want your gold in such a scenario? What was the value of gold in primitive societies?

 

[The Central Scrutinizer]

No offence taken. If you want to base your opinions on propaganda produced by a person who quite obviously has a vested interest in not telling you the truth, that's your funeral. Why should it bother me?

Do you also believe what politicians tell you without bothering to do your own research?

Your username is a joke, my friend. You are no "central scrutinizer".

Instead of "taking his analysis over mine", why don't you provide your own? Why not actually do your homework on peak oil and come to your own opinion. You have not done this, or you would understand what is wrong with the quote above.

I tend to take the analysis of someone who is actually working in the oil business over someone who lives in his parents basement and spends hundreds of hours "researching" this very important issue (not referring to you).

But since you asked, my analysis:

Physical peak oil, which I have no reason to accept as a valid statement either on theoretical, scientific or ideological grounds, would be insensitive to prices. In fact the whole hypothesis of peak oil – which is that there is a certain amount of oil in the ground, consumed at a certain rate, and then it's finished – does not react to anything.

Whereas we believe that whatever can be turned into oil strongly depends on technology and technology depends on prices as well.

Therefore there will never be a moment when the world runs out of oil because there will always be a price at which the last drop of oil can clear the market. And you can turn anything into oil into if you are willing to pay the financial and environmental price.

It is more likely that demand will peak, which is what we are seeing in Japan and in Europe.

And then of course there is another constraint. The human capacity of digging hydrocarbons out of the ground and burning them and turning them into energy seems to be much larger than the atmospheric capacity to absorb the resulting CO2.

That is likely to be more of a natural limit than all these peak oil theories combined. Peak oil has been predicted for 150 years. It has never happened, and it will stay this way.

The above is a "straw man" if it is supposed to be a response to peak oil theory because peak oil theory is about (wait for it...) PEAK oil, not "the world running out of oil." Do you understand the difference.

Nope. You can turn anything into oil if you are willing AND ABLE to pay the financial and environmental price.

Of course demand is going to peak. The higher goes the price, and the worse the state of the global economy, the greater will be the downward pressure on demand. Does the author believe that peak oil theory claims that oil consumption will start falling simply because people can no longer physically get hold of oil? Of course it doesn't! What happens when the availability of oil declines is that the price goes up until a sufficient number of potential customers have been priced out of the market. This process has already begun.

You are a classic example of a denier of things like climate change, peak oil and evolutionary theory. What all of those people have in common is that they do not understand the thing they are denying, because they think they already know enough about it to have an informed opinion without actually bothering to make an effort to understand that thing. I have encountered very few individuals who both understand peak oil and deny that it has happened (or will happen in the very near future.)

 

[The Central Scrutinizer]

I wonder why there is such a huge overlap between the goldtards and the potards (Peak Oil tards). I'm guessing because each involves conspiracies, huge international corporations (run by jews, of course). Add in Fedtards (the anti-Federal Reserve nutters), and those who "have questions" about the JFK assassination.

The JREF forum has had them popping in and out for years (I'm not referring to any current members). I mean, they're great for comedy, but they really don't belong on a skeptics forum.

 

[kevsta]

I wonder why there is such a huge overlap between the goldtards and the potards (Peak Oil tards).

if time and history prove you wrong in either of these views, I hope you will find a little humility and have a plan (b) but I doubt it somehow.

I'm guessing because each involves conspiracies, huge international corporations (run by jews, of course). Add in Fedtards (the anti-Federal Reserve nutters), and those who "have questions" about the JFK assassination.

guess some more, in this case, it has nothing to do with conspiracies except in your head. it has everything to do with there being credible people on the other side of your arguments too.

The JREF forum has had them popping in and out for years (I'm not referring to any current members). I mean, they're great for comedy, but they really don't belong on a skeptics forum.

frankly neither do closed-minded authori-tards but there's plenty of those here too, so a little balance doesn't hurt.

 

[The Central Scrutinizer]

if time and history prove you wrong in either of these views...

Well, there's been about 10,000 years of history (starting with the Sumerians), and so far I've been right, and you've been wrong. Maybe that will change some day. Also, the Sun might explode tomorrow.

...I hope you will find a little humility and have a plan (b) but I doubt it somehow.

Plan B is to wait for the Sun to explode.

 

[kevsta]

now wheres my dinosaur meteor picture when I need it.

 

[The Central Scrutinizer]

now wheres my dinosaur meteor picture when I need it.

I think it's next to your photo of Chicken Little.

 

[kevsta]

I think it's next to your photo of Chicken Little.

touche

 

[UndercoverElephant]

I wonder why there is such a huge overlap between the goldtards and the potards (Peak Oil tards). I'm guessing because each involves conspiracies, huge international corporations (run by jews, of course). Add in Fedtards (the anti-Federal Reserve nutters), and those who "have questions" about the JFK assassination.

The JREF forum has had them popping in and out for years (I'm not referring to any current members). I mean, they're great for comedy, but they really don't belong on a skeptics forum.

There are words to describe posts like that above, but it is against the FUA to post them on this forum. It has no genuine content. It consists entirely of offensive, wildly innaccurate nonsense which isn't even attempting to contribute to the discussion.

You are talking out of your rear end.

 

[GlennB]

.... my Toyota truck runs happily all day on veggie oil, (free to collect, just have to filter it)

One minor nitpick here .... where would you get this free waste veggie oil when all the restaurants have closed down for lack of business?

 

[elbe]

apologies, again, this strand of the conversation came up because someone said incorrectly that its utility value was nothing and it was worth $20 or $50 per Oz.

while the adult thing to do would be ignore nonsense provocation like that, it was so ridiculous it needed pointing out all the ways it was incorrect.

Oh, I know how this came about, but you've failed to explain why you'd rather it be used as a currency than for it's actual utility value.

 

[Mark6]

One minor nitpick here .... where would you get this free waste veggie oil when all the restaurants have closed down for lack of business?

I was wondering about that too.

In the situation Kvesta describes even if restaurants do not close down, they definitely will not be throwing out used cooking oil. In fact, it would become quite valuable.

 

[kevsta]

One minor nitpick here .... where would you get this free waste veggie oil when all the restaurants have closed down for lack of business?

are we talking about total world meltdown and TEOTWAWKI?

if so I suppose its possible that tourism stops completely, otherwise this year 2 million people passed through Ibiza's many many hundreds of hotels, and clearly ate shedloads of fried food out of those deep fryers.

the hotels currently have to pay to have the 50 litre tins removed and disposed of, we're actually looking into setting up a collection and recycling business.

plus we probably have about 2 years supply waiting, being filtered, and ready to use already. big pile of 50 gallon drums building up, me and my amigo are going to have to start selling it or drive more.

 

[ZouPrime]

I was wondering about that too.

In the situation Kvesta describes even if restaurants do not close down, they definitely will not be throwing out used cooking oil. In fact, it would become quite valuable.

Funnily enough, it's already quite valuable.

http://www.washingtonpost.com/local...common-crime/2011/10/13/gIQA3SsSiL_story.html

 

[kevsta]

I was wondering about that too.

In the situation Kvesta describes even if restaurants do not close down, they definitely will not be throwing out used cooking oil. In fact, it would become quite valuable.

only to people with the old style diesels that can cope with the higher density oil, most modern ones cant. that could change in the future obviously.

it can be problematic to start with, bursting leaks in pump seals etc, and is only really suitable for more moderate temperature climates, otherwise you still have to mix diesel to get it to work in the winters.

is fine here, has been below freezing exactly once since I arrived in 06.