Gold bars in a safe in his basement!

[MsDoodahs]

Flipping thru the business channels, landed on FoxBusiness, and some guy was talking to Stuart Varnish...the guy was saying that he talked to a wealthy guy who went to London, bought a bunch of gold bars, brought them back and put them in a safe in his basement.

He said something like "that doesn't help the economy."

And Varnish said, "no, gold doesn't do ANYONE any good."

:rolleyes:

[tremendoustie]

Flipping thru the business channels, landed on FoxBusiness, and some guy was talking to Stuart Varnish...the guy was saying that he talked to a wealthy guy who went to London, bought a bunch of gold bars, brought them back and put them in a safe in his basement.

He said something like "that doesn't help the economy."

And Varnish said, "no, gold doesn't do ANYONE any good."

:rolleyes:

Niether does worthless paper, or reckless credit. None of it matters, they need to get this through their thick skulls: Real goods and services matter. If you produce it, you have it, and can consume it. If you don't produce it, you don't have it, and can't consume it, no matter how many little green slips of paper you have.

If you borrow to buy dinners out and big screen tvs, while your factories go to ruin, guess what, you're eventually going to have jack squat, no matter how many green slips of paper you print.

[Bruno]

Flipping thru the business channels, landed on FoxBusiness, and some guy was talking to Stuart Varnish...the guy was saying that he talked to a wealthy guy who went to London, bought a bunch of gold bars, brought them back and put them in a safe in his basement.

He said something like "that doesn't help the economy."

And Varnish said, "no, gold doesn't do ANYONE any good."

:rolleyes:

If he bought gold bars with FRN's, the guy who he bought the bars from now has FRNs and will likely circulate those back into the economy.

This is no different than buying a valuable painting from someone. Or am I missing something? His money didn't just disappear when he purchased it, it was a commodity and fiat currency was exchanged for it.

[tremendoustie]

If he bought gold bars with FRN's, the guy who he bought the bars from now has FRNs and will likely circulate those back into the economy.

This is no different than buying a valuable painting from someone. Or am I missing something? His money didn't just disappear when he purchased it, it was a commodity and fiat currency was exchanged for it.

You're right. They're clueless, as usual.

[angelatc]

Flipping thru the business channels, landed on FoxBusiness, and some guy was talking to Stuart Varnish...the guy was saying that he talked to a wealthy guy who went to London, bought a bunch of gold bars, brought them back and put them in a safe in his basement.

He said something like "that doesn't help the economy."

And Varnish said, "no, gold doesn't do ANYONE any good."

:rolleyes:

Obviously the government needs to take those away to help the economy.

[ihsv]

What's the guy's name and where does he live? :D

[ckg242]

What's the guy's name and where does he live? :D

I know, right. I was literally reading just 5 minutes ago about storing gold. In the article it was stressed repeatedly not to tell ANYONE about your purchase.

[MsDoodahs]

Obviously the government needs to take those away to help the economy.

That is the first thing that I thought of.

[krazy kaju]

Actually, it does stimulate the economy, by increasing the demand for gold, thereby increasing prices, which will stimulate expansions in the gold mining industry.

[Crowish]

Dave Ramsey just talked to someone on the phone and told him gold is stupid.

[krazy kaju]

Dave Ramsey just talked to someone on the phone and told him gold is stupid.

Ramsey said that when gold was at $700. Some people just never learn.

[Mitt Romneys sideburns]

Ramsey said that when gold was at $700. Some people just never learn.

Hes waiting for it to go back to $35 an oz.

[madengr]

I'm surprised he was able to get it back in the country without confiscation.

[Josh_LA]

Niether does worthless paper, or reckless credit. .

wrong, worthless paper and reckless credit DOES help our drunk economy (and we shouldn't help it, we should HURT IT)

[ihsv]

Dave Ramsey just talked to someone on the phone and told him gold is stupid.

:rolleyes: