Saturday, December 20, 2014

Defense of the Gold Standard & the Discovery of Freedom, pt 7 of 7


Muhammad Rasheed - Abdur Rasheed wrote: “A microscopic amount of gold (and getting less and less every new generation of electronics per the articles..."

You said it had no value, and I pointed out it is used in electronics. The properties gold possesses enable it to be used to make electronics work. That’s valuable, Abdur.

Abdur Rasheed wrote: “PLUS the fact that it never goes anywhere means that it is headed for the down slop. 1. It's non consumable so it will be here forever.”

That’s the trait that makes it most suitable as a commodity to back currency with.

Abdur Rasheed wrote: “2. Everybody is ALWAYS mining it all over the world”

That’s a trait that counters people bitchin’ about the supply.

Abdur Rasheed wrote: “3. It isn't used for shit except what the gold lobby pays companies to use. The TRUE VALVUE of Gold is the same War machine that you are against. They put the shit in electronics because the lobbyist PAY THEM TOO.”

This is probably my favorite part, where you actually convert to pro-Free Market-ism just to keep from admitting gold has value. I’ve saved this post to use against you later btw. Thanks!

If it lacked value no one COULD pay anybody to use it for anything because it would be worthless as you claimed. The fact that it CAN be used for these things means it has value… it’s not worthless. Whether it SHOULD be used for these things in the current political climate is a completely different discussion. The point here is that it isn’t just a shiny rock, or the lobbyists and their clients couldn’t use it as a political tool in that way at all.

Muhammad Rasheed - Abdur Rasheed wrote: “1. Strong economic news while we were NOT on the gold standard is because of the gold standard. I didn't think that I needed to couter that because....uuuuummmm...it doesnt make any damn sense. “

A very pro-gold standard Alan Greenspan fought to get the Chairman of the Federal Reserve spot, and while he was there made the price of the USD mimic the price of gold as closely as he could, as well as consulting with a US president to aid him in reducing the deficit, creating the famously strong economy of the 1990s. He retired from the position in 2006, and was replaced with a very anti-gold standard Ben Bernanke who promptly ushered in the Great Recession from NOT choosing to have the USD mimic the price of gold as closely as he could. Makes a LOT of sense to me. Greenspan couldn't put us on the gold standard, but he did everything he could to force the market to behave as if it was, creating a strong economic decade. His replacement did the opposite which caused an immediate economic disaster just two years later.

Abdur Rasheed wrote: “Then the fiat system or the gold standard doesn't matter and is NOT the reason for a bad economy. Right? ISN'T THAT what the facts say??”

No, of course not. The banks, if left to operate the way they want, are going to continue causing recessions/depressions/hyper-inflation because that’s their get rich quick machine. The gold standard restrains them, confining their mischief to the folk who want to play those games with them, and it also has the benefit of making politicians more fiscally responsible. “It was limited gold reserves that stopped the unbalanced expansions of business activity, before they could develop into the post-World War I type of disaster. The readjustment periods were short and the economies quickly reestablished a sound basis to resume expansion.” ~A. Greenspan. The fiat system by contrast encourages politicians to make short-term decisions that look good for their career, but are detrimental to the economy in the long term.

Abdur Rasheed - Abdur Rasheed wrote: “A microscopic amount of gold (and getting less and less every new generation of electronics per the articles..."

Muhammad wrote: "You said it had no value, and I pointed out it is used in electronics. The properties gold possesses enable it to be used to make electronics work. That’s valuable, Abdur. "

It STILL has no value. An insignificant amount in electronics doesn't justify $2000 an ounce, Muhammad.

Here's a hint: If you had to do research in order to find what something is used for...it's an indication that it has low practical value. If they are making more electronics than ever before in the history of man yet they are putting less gold in electronics than ever is a clear case as to why the cost for gold should be falling like a stone and not fluctuating with the market.

The value of gold is based off speculation and NOT what it's used for. In other words....it has no TRUE value.

I millionth of a speck in a cell phone means that every 1million cellphones made requires 1 speck of gold = no value

Abdur Rasheed - Muhammad wrote: "If it lacked value no one COULD pay anybody to use it for anything because it would be worthless as you claimed. The fact that it CAN be used for these things means it has value… it’s not worthless. Whether it SHOULD be used for these things in the current political climate is a completely different discussion. The point here is that it isn’t just a shiny rock, or the lobbyists and their clients couldn’t use it as a political tool in that way at all."

This looks like a miscommunication problem.

If I handed you $10,000 in US currency...would you take it?

Does it have value?

Is it true value or arbitrary value?

If the US money lobby paid congressmen to pas laws to mandate that they use a corner of a US $100 bill in the back of every TV set...would that make fiat money more valuable?

Muhammad Rasheed - If I handed you 10 ounces of gold would YOU take it?

Muhammad Rasheed - If you remove the "insignificant" amount of gold in the electronic device would the device still function?

Abdur Rasheed - Muhammad wrote: "If I handed you 10 ounces of gold would YOU take it?"

The fuck??

Muhammad Rasheed - No? Yes?

Abdur Rasheed - Muhammad wrote: "If you remove the "insignificant" amount of gold in the electronic device would the device still function?"

FUCK YES!! There are a BILLION other things you could coat shit with that are an assload cheaper than $1400 a damn ounce.

They just don't have lobbyist.

Muhammad Rasheed - lol Would it still function immediately after the gold was removed BEFORE you inserted your substitute material?

Abdur Rasheed - Neil P wrote: "No? Yes?"

Look Neil, did you just answer my question with a question and then got irritated that I didn't answer YOUR question??

Muhammad Rasheed - I didn't get irritated at all. You're the one cussin' right now. If you handed me $10,000 sure I would take it. If I handed you 10 ounces of worthless gold, would you take it? #integrityCheck

Abdur Rasheed - Muhammad wrote: "I didn't get irritated at all. You're the one cussin' right now. If you handed me $10,000 sure I would take it. If I handed you 10 ounces of worthless gold, would you take it? #integrityCheck"

I JUST DECIDED to try something new and started cussing just tofuckingday. I kinda like it, Fucker.

What in the hell is wrong with you?

Of COURSE I would take it.

What gave you the impression that I wouldn't?

"Buy it low (or free) and get the fuck out of it."

You member...member?

"It only has value because dumb asses gave it an arbitrary value so buy it low and sell it high."

You want me to join the he man club or whatever the hell because you seem to want to twist my words as if you can't buy shit with gold. (You can't but you can sell it) I NEVER said the you couldn't buy shit with gold. I have ALWAYS said that the value placed on gold is JUST as bullshit based as fiat money or the material from the emperor's new clothes.

It has a price...it's just based on bullshit.

Stop acting like you don't get that.

Any other simple concepts you need me to break down?

Muhammad Rasheed - Abdur Rasheed wrote: "I JUST DECIDED to try something new and started cussing just tofuckingday. I kinda like it, Fucker."

lol


Abdur Rasheed wrote: ""It only has value because dumb asses gave it an arbitrary value so buy it low and sell it high."

If Wall Street wasn't arbitrarily manipulating gold on the stock market, would you take the 10 ounces I handed you?

Muhammad Rasheed - And would the electronic device still function immediately after the gold was removed BEFORE you inserted your substitute material?

You're a slippery one...

Abdur Rasheed - Muhammad wrote: "If Wall Street wasn't arbitrarily manipulating gold on the stock market, would you take the 10 ounces I handed you?"

Of course I would! Even if you nuked WallStreet off the map I would.

Because the rest of the planet sets the price of gold...NOT WallStreet, Sir.

If the rest of the world who mines and trades gold collectively said,"fuck this shiny rock!"

Then so would I.

I can't refine it and make nothing out of it.

When the price dropped lower than aluminum I would start putting it in my cell phones and wrapping sandwiches in it or some shit, but it would truly be worthless (like you kept implying I was saying at first) because 99.9% of the value of gold comes from shit that day traders all over the world "say". $2000 an ounce one minute $200 and ounce the next.

Usually you have to have too much of something to get that kind of price variation out of it.

Oil reserves are low and the price goes up.

Demand for oil goes up and so does the price.

Oil reserves high and the price goes down.

A lot of dope raids so the cost of drugs goes up. Known as a drought.

All the gold that was ever mined is STILL in circulation so the supply never goes down.

The usefulness never goes up.

The people who trade gold use fear to artificially inflate the value. Just like guns.

The value of gold is bullshit and based on a scam.

Abdur Rasheed - Muhammad wrote: "And would the electronic device still function immediately after the gold was removed BEFORE you inserted your substitute material?"

Just so I'm clear with what you're asking me...

I said that the only value gold has is fake value like fiat money and they only use it in industries when the gold lobby pays politicians to put people to use it in microscopic portions and you are asking me that when the gold lobby has people use gold...will the "thing" still work if you take the gold out?

IF that is what you are asking me...

Please confirm.

In the mean time: if you were on an inflatable life raft in the middle of the ocean and a gold lobbyist rode up on you in a speed boat and took a gold spike with glue on it and jammed it into your raft...would THAT make the gold spike more valuable?

Would your raft STILL work without the gold?

Dafuq??

Muhammad Rasheed - India has been hoarding it like mad lately. That's probably why the price is going up.

The value of gold is based on it's physical properties. If its value was "bullshit and based on a scam" we'd be able to find a time period in which it wasn't considered valuable in an advance society. The day trading thing, in it's modern rock-n-roll, buy-quick-sell-quick trend didn't really start until the dot-com boom of the '90s. Before that it was a lot more methodical and boring.

Muhammad Rasheed - Abdur Rasheed wrote: "Would your raft STILL work without the gold?"

Would my phone still work if I stripped all of the gold out of it and then put it back together?

If an electronic phone expert stripped all of the gold out of my phone and put it back together, would the phone still work?

Abdur Rasheed - Muhammad wrote: "India has been hoarding it like mad lately. That's probably why the price is going up."

Is that a guess or is that a fact??

Gold prices are falling, Sir.
You are fucking WRONG, Sir.
Try again, Sir.

Muhammad wrote: "The value of gold is based on it's physical properties. If its value was "bullshit and based on a scam" we'd be able to find a time period in which it wasn't considered valuable in an advance society. The day trading thing, in it's modern rock-n-roll, buy-quick-sell-quick trend didn't really start until the dot-com boom of the '90s. Before that it was a lot more methodical and boring."

You are fucking WRONG, Sir.

Try again, Sir!


Notice the batshit spikes in the price of gold when the economy took a shit since the 1800's, Sir.

I thought you looked this shit up???

If you're not even going to try...

Muhammad Rasheed - Abdur Rasheed wrote: "Is that a guess or is that a fact??"

India has been hoarding it like crazy lately is a fact. What the price has been doing because of it was the guess.

Abdur Rasheed - Muhammad wrote: "We'll done integrity boy!"

Abdur Rasheed - Muhammad wrote: "Abdur Rasheed wrote: "Would your raft STILL work without the gold?"

Would my phone still work if I stripped all of the gold out of it and then put it back together?

If an electronic phone expert stripped all of the gold out of my phone and put it back together, would the phone still work?"

Why YES...yes it would.

Muhammad Rasheed - Abdur Rasheed wrote: "Notice the batshit spikes in the price of gold when the economy took a shit since the 1800's, Sir. I thought you looked this shit up??? If you're not even going to try..."

What the price of gold does on the market was never my concern. That was your schtick not mine. My sole argument involved the gold standard over the fiat financial system. My interest in price fluctuations is merely peripheral, since I promote a free market supply/demand self-correcting price fluctuation.

Muhammad Rasheed - Abdur Rasheed wrote: "Why YES...yes it would."

Because the gold is just in there to make the insides pretty/shiny?

Abdur Rasheed - Muhammad Rasheed wrote: "Abdur Rasheed wrote: "Why YES...yes it would."

Because the gold is just in there to make the insides pretty?"

Well YEAH! It's fucking GOLD!

The fucks wrong with you!

That shits beautiful.

Plus they only use it to coat electronic contacts so...yeah! Electronic contacts are STILL electronic contacts without the pretty shiny rock.

Muhammad Rasheed -  lol I apologize for saying the price of gold has been going up when it is actually falling. In my defense I really didn't care (I'm not into the speculative markets despite your continuously trying to pin that on me) and thought I was repeating something you said. My bad.

Abdur Rasheed - If it had actual value...you wouldn't have to guess so damn hard, bro. Don't sweat it.

Muhammad Rasheed - Abdur Rasheed wrote: "Well YEAH! It's fucking GOLD! The fucks wrong with you! That shits beautiful."

Your caucasian counterpart pointed out that beautiful was subjective earlier.

Abdur Rasheed wrote: "Plus they only use it to coat electronic contacts so...yeah!"

What's the contact made of that the gold coats?

Muhammad Rasheed - Abdur Rasheed wrote: "If it had actual value...you wouldn't have to guess so damn hard, bro. Don't sweat it."

lol No. Wall Street playing with it on the markets is a separate matter than gold's actual value. It's actual value is made up of it's special properties, such as those that enable it to be used in electronic devices.

Abdur Rasheed - Muhammad wrote: "Abdur Rasheed wrote: "Plus they only use it to coat electronic contacts so...yeah!"

What's the contact made of that the gold coats?"

Silver, copper, various other alloys.

You know...Shit that makes phones work.

Abdur Rasheed - Muhammad wrote: "Abdur Rasheed wrote: "If it had actual value...you wouldn't have to guess so damn hard, bro. Don't sweat it."

lol No. Wall Street playing with it on the markets is a separate matter than gold's actual value. It's actual value is made up of it's special properties, such as those that enable it to be used in electronic devices."

LOL

I always wondered why King Ramsey insisted on the I Phone 6.

Deep

Muhammad Rasheed - It's some non-conducting cheap metal and they put the gold over it to make the connection work.

Muhammad Rasheed - Abdur Rasheed wrote: "I always wondered why King Ramsey insisted on the I Phone 6"

I don't follow rap music.

Muhammad Rasheed - Is he kinda like Biggie?

Abdur Rasheed - Muhammad wrote: "Abdur Rasheed wrote: "Well YEAH! It's fucking GOLD! The fucks wrong with you! That shits beautiful."

Your caucasian counterpart pointed out that beautiful was subjective earlier."

That's "New BIG BROTHER" to YOU, Fucker.

You're crazy!

Abdur Rasheed - Muhammad wrote: "It's some non-conducting cheap metal and they put the gold over it to make the connection work."

You suuuure you want to stick to that goofy shit? Lol

I got my finger on the "BUST HIS ASS" button.

You might not want to do that.

3...2...

Muhammad Rasheed - Show me what the gold is coating.

Abdur Rasheed - In its purest state gold is number 3 in conductivity.

Silver is number 1.

Copper is number 2.

There are MANY different combinations of different alloys mixed with silver and copper (and a shit load cheaper than gold) that all conduct electricity a LOT better, Sir.

Copper is .20 cents and ounce

Silver is $19 an ounce.

They are cheaper when you add cheaper alloys to them and they STILL conduct electricity BETTER than your shiny rock with the "valuable"properties.

Copper is used in every wire (high and low voltage) in every house in the civilized world and its .20 cents and ounce.

The cost of copper fluctuates with the new home building market.

Abdur Rasheed - Muhammad wrote: "Show me what the gold is coating."

You do it, fucker!

You don't believe me?

If you're not sure what your gold is used to coat (yet tried to clown me for my knowledge of industry) then post up or shut up.

Maybe electronic contacts and circuits are made of wood with a gold coating. That's probably why they burn up from time to time. You think?

Muhammad Rasheed - So you're saying that they put a coating of gold over top of the better conducting silver, copper, silver/copper alloy?

Muhammad Rasheed - Abdur Rasheed wrote: "If you're not sure what your gold is used to coat..."

*shrug*

Abdur Rasheed wrote: "(yet tried to clown me for my knowledge of industry)"

I didn't try to clown you over knowledge of YOUR industry. You just don't know about the gold standard topic. You're just pouring out a rhetoric bomb based on how you feel about it.

Abdur Rasheed wrote: "...then post up or shut up."

No. I already know gold is valuable and part of that value enables it to be used in electronics. Gold has very specific properties that has made it valuable in every advanced human society, separate from the investment/financial markets.  At no point have I argued for investing in gold on the modern speculative market, but for some retarded reason, you can’t stop arguing against it like it was my whole point to this.  And after all of this time, I still can’t tell whether you are deliberately stramanning me, or just fucking, hard-headed confused. 

Abdur Rasheed - Yeah because gold is awesome.

Muhammad Rasheed - Gold is CLEARLY awesome, and no one has EVER treated it otherwise.

Abdur Rasheed - Muhammad wrote: "No. I already know gold is valuable and part of that value enables it to be used in electronics. Gold has very specific properties that has made it valuable in every advanced human society, separate from the investment/financial markets."

Ancient Egyptians had I phones?

Why in the fuck didn't you just say that shit in the first fucking place???

Muhammad Rasheed - "Copper is the most common material used for electrical wiring. Silver is the best conductor, but it is expensive. It has a resistivity of 1.6×10−8 Ω⋅m. Because gold does not corrode, it is used for high-quality surface-to-surface contacts."


Abdur Rasheed - Muhammad's wiki link wrote: "Silver is more conductive than copper, but due to cost it is not practical in most cases. However, it is used in specialized equipment, such as satellites, and as a thin plating to mitigate skin effect losses at high frequencies."

Silver has a high cost which makes it not practical in most cases at $19 an ounce.

Gold is $1400 an ounce.

I think you just helped me win the Internet.

I wanna say, "thanks??"

Abdur Rasheed - Do you know what gives objects value Muhammad??

Muhammad Rasheed - The link explained that gold has special properties beyond what silver and copper possessed that made it a better choice under certain circumstances, even though it doesn't conduct as well as silver... a point already made earlier.

Abdur Rasheed - You gonna answer my question?

Muhammad Rasheed - Abdur Rasheed wrote: "Do you know what gives objects value Muhammad??"

Value is based on needs and wants. For example, if I need a material that both conducts electricity and is corrosion resistant, a metal that posseses these qualities would be valuable to me.

Muhammad Rasheed - Abdur Rasheed wrote: "You gonna answer my question?"

Do you have OCD?

Muhammad Rasheed - wth?

Muhammad Rasheed - Why don't you comb through this thread and answer all the questions you skipped over?

Muhammad Rasheed - Damn...

Abdur Rasheed - Like what?

Abdur Rasheed - Muhammad wrote: "Abdur Rasheed wrote: "Do you know what gives objects value Muhammad??"

Value is based on needs and wants. For example, if I need a material that both conducts electricity and is corrosion resistant, a metal that posseses these qualities would be valuable to me."

Is THAT what it said in your Econ book?? "Needs and wants?"

Was it a coloring Econ book? Was there a washing machine and dryer in your class room?

Do you want to actually try to answer my question or just reverse back off the answer you think you already know?

Abdur Rasheed - What happens when YOU "need" 20 and I "WANT" 20 and we have 1000 each, is it still valuable? Lol

Muhammad Rasheed - Needs and wants give an object its value. If I don't need or want it, it has no value.  That’s amazingly, fundamentally, common sense.

Muhammad Rasheed - Abdur Rasheed wrote: "What happens when YOU "need" 20 and I "WANT" 20 and we have 1000 each, is it still valuable? Lol"

Why wouldn't it be? Are we both holding on to the 1000 because of our needs/wants? We're holding it because of it's value based on our needs/wants. If we didn't need/want it, then why hold it?

Muhammad Rasheed - You're really getting off on this new cussin' thing. You've really taken ownership of it.

Abdur Rasheed - I notice that you are getting off on this whole fuck the basic principles to economics and facts thing.

If you only need 20 but you have 1000 how much would you pay me for my 1000? I want 1 million each.

Q Tips, pounds of hamburger, left handed gloves...

Muhammad Rasheed - Abdur Rasheed wrote: "I notice that you are getting off on this whole fuck the basic principles to economics and facts thing."

The resources making up the various components of our civilization represent our needs and wants... a finite number of resources that can be used for many different things that we need and want. The "demand" part of basic economics represents our needs and wants. The "supply" aspect represents the quantity of the resources available. That's what determines the value. Needs and wants.

Muhammad Rasheed - FROM WIKI: "The value of gold is rooted in its medium rarity, easily handling, easy smelting, non-corrosiveness, distinct colour and non-reactiveness to other elements; qualities most other metals lack."

Abdur Rasheed - Muhammad Rasheed wrote: "Abdur Rasheed wrote: "I notice that you are getting off on this whole fuck the basic principles to economics and facts thing."

The resources making up the various components of our civilization represent our needs and wants... a finite number of resources that can be used for many different things that we need and want. The "demand" part of basic economics represents our needs and wants. The "supply" aspect represents the quantity of the resources available. That's what determines the value. Needs and wants."

Lol

If you beat that square peg long enough and hard enough....

If you're not even going to try...

If you need and want 20 but you have 5 are they worth MORE than if you had 1000?

If you need 20 but you have 5 how much would you pay me for my 15?

It's REALLY not that hard Muhammad.

If you are just going to flat out IGNORE basic Econ principles to try and win an argument instead of trying to find the truth then there is no need to talk to you about this anymore.

Needs and wants is HALF of it, but supply is critical.

If you don't get that I feel sorry for you.

I'm done.

It was ok until you turned into Tamara jr.

Peace

Muhammad Rasheed - Abdur Rasheed wrote: "It's REALLY not that hard Muhammad."

From WIKI - "Note that economic value is not the same as market price. If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price. The difference between the value to the consumer and the market price is called "consumer surplus". It is easy to see situations where the actual value is considerably larger than the market price: purchase of drinking water is one example."

Abdur Rasheed - Note how drinking water has actual value?

Yeah. Like THAT!

Abdur Rasheed - If you need and want 20 but you have 5 are they worth MORE than if you had 1000?

If you need 20 but you have 5 how much would you pay me for my 15?

Does that effect the value?

You can do it, Man!

Muhammad Rasheed - From WIKI - "Note that economic value is not the same as market price. If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price."

Soooo... what is your point supposed to be, doc?

Muhammad Rasheed - You're determined to have me go through this exercise as if it proves the economic value, despite that not having anything to do with basic econ principles regarding value because why?

Abdur Rasheed - Muhammad Rasheed wrote: From WIKI - "Note that economic value is not the same as market price. If a consumer is willing to buy a good, it implies that the customer places a higher value on the good than the market price."

Soooo... what is your point supposed to be, doc?
You're determined to have me go through this exercise as if it proves the economic value, despite that not having anything to do with basic econ principles regarding value because why?”

So If I make a statement like “You don’t understand the BASIC principles of economics (supply and demand) you say "YOU DON'T UNDERSTAND BACIS ECON PRINCIPLES!!"

You think that VALUE is based on what was that again?

Muhammad wrote: “Value is based on needs and wants...”

Yeah, THAT goofy shit!

If you think that “Needs and Wants” is the cornerstone of what gives things value then you are not prepared to debate this with me.

Demand by itself without the factor of the SUPPLY is retarded.

“Needs and wants’ determines value if you are 4 years old and even then a 4 year old has enough sense to realize that they LOVE candy.

4 year old: ‘I NEED AND WANT CANDY!!”

Parent: “OK. You can have candy, but first you have to pick up all of your toys.

[4 year old hurries up and picks up toys excited to get candy.]

The DAY AFTER HALLOWEEN when the 4 year old has an entire pillow case full of candy and is gorging herself on candy.

Parent: “Pick up all candy paper and your toys and i will give you a snicker bar.’

4 year old: “FUCK YOU!”

The value of candy went down.

I didn’t say SHIT about a “market price.”

I understand that you have commited to "Needs and wants", so you feel like everything has to fit somehow in the "needs and wants box", but that is less than intellegent.

If all you have is two sentences from a Wiki page and bag full of strawmen to debate me with then this conversation is over.

You are looking slow and I’m trying to HELP you.

Muhammad Rasheed - [patiently]Needs/wants determine the demand for a resource. If the population has no needs or wants for the resource, then there is no value in that resource.[/patiently]

Abdur Rasheed - Muhammad wrote: "It's some non-conducting cheap metal and they put the gold over it to make the connection work."

SIlVER and COPPER???

This is why you should stop typing and delete this thread before somebody who respects you reads it.

Abdur Rasheed - Muhammad Rasheed wrote: "[patiently]Needs/wants determine the demand for a resource. If the population has no needs or wants for the resource, then there is no value in that resource.[/patiently]"

It sure does Muhammad! Whose a good Muhammad? Whose a good Muhammad?

YOU ARE!!!

LOL

I just broke it down Romper Room style for you and everythang...

Going around in circles trying to get you to understand simple shit is exhausting (especially since I can't call you a dumbass) so I leave you to it, Bro.

Let me know how it all turns out.

Peace

Rah

Muhammad Rasheed - Are you trying to say they are putting a coating of the 3rd best conductor on top of the 1st and 2nd best conductors?

Muhammad Rasheed - Abdur Rasheed wrote: "If you think that “Needs and Wants” is the cornerstone of what gives things value then you are not prepared to debate this with me. Demand by itself without the factor of the SUPPLY is retarded."

You can fill up North America with booger-flavored gumballs, or just have ten of them in a hidden cavern at the top of K2, but if no one wants or needs them, they have zero value.

Abdur Rasheed - Is THAT the ONLY scenario where the value of something will decrease??

Hint: See 4 year old with candy above

You can do it, Muhammad.

I KNOW you can...

One more chance...

You're so close...

Muhammad Rasheed - Abdur Rasheed wrote: "Is THAT the ONLY scenario where the value of something will decrease?"

lol I called myself using an example of something that would never have any value to decrease from.

The value of a resource will decrease if the population no longer has any need of it. "Value is intrinsically related to the worth derived by the consumer."

Muhammad Rasheed - If the needs/wants decrease, so to does the value.

Abdur Rasheed - The "worth derived by the consumer" is based upon the Haves/gives (supply).

Still no?

Muhammad Rasheed - No. "Worth derived by the consumer" is based upon whether I need it or not. That's where the value comes from. How much there is on the planet will determine the price, which will determine who actually receives it.

Abdur Rasheed - Muhammad wrote: ' How much there is on the planet..."

I think this is the missing link.

NOBODY said SHIT about how much was on the planet and you know it.

Your integrity just crashed on the NADAQ.

I said "YOU FUCKER!" How much YOU HAVE determines how much you "want/need" it.

Don't play the role if you don't want the title.

Muhammad Rasheed - I have no idea what you are talking about.

Are you saying it has no value unless it's already in a warehouse somewhere, or if the consumer already has half a box in his garage?

How much of it is on the planet determines the rarity, which is the bottom line of "supply." How easy or difficult is it to get more of this item based on how much of it is available. That determines price. If nobody needs or wants it... regardless of the rarity... the price will be "free."  You’ll be able to just pick up a handful of it off the curb.

Abdur Rasheed - Muhammad Rasheed wrote: "I have no idea what you are talking about."

We figured.

THAT'S why you have to answer this and stop being a Dick.

If you need and want 20 but you have 5 are they worth MORE than if you had 1000?

If you need 20 but you have 5 how much would you pay me for my 15?

Does that effect the value?

I promise it won't hurt.

last chance or i'm just going to leave you to ramble to yourself in the dark in this bullshit thread.

Just answer the question and we can go to the next step.

or not.

Muhammad Rasheed - Abdur Rasheed wrote: "THAT'S why you have to answer this and stop being a Dick."

You sound crazy as hell.

Abdur Rasheed - Because you keep licking the damn window and you won't focus.

I NEVER said that, "needs/wants aren't "demand". You pulled that straight out of your ass.

Muhammad Rasheed - Look...

I don't care about whatever counting on your fingers and toes techniques that you use to figure out supply/demand principles. Figure out how to package whatever your argument is supposed to be in a concise, short clip that doesn't involve tag teaming with me, and make your point.

Muhammad Rasheed - needs/wants = demand. quantity available = supply.

demand = value.

Without demand there is no value. If I don't need/want your buggywhips, then who cares how much you have? I'm not going to stand there haggling with you over the price at all if I don't need/want your buggywhips... which means they have no value. It's my need/want that determines the value.

Muhammad Rasheed - Abdur Rasheed wrote: "Because you keep licking the damn window and you won't focus."

Make your point so I may scrutinize it and see if it makes any sense or not. You don't need my help to make your point.

Abdur Rasheed - I know you want/need to be right...but you have no idea what you are talking about.

Muhammad wrote: "I don't care about whatever counting on your fingers and toes techniques that you use to figure out supply/demand principles. Figure out how to package whatever your argument is supposed to be in a concise, short clip that doesn't involve tag teaming with me, and make your point."

You're not smart enough to get it. Why waste my time and lose the rest of the respect I had for you?

At this point I'm not even sure if you can really draw. Lol

Muhammad Rasheed - You were the one hinging that WHOLE segment on gold being worthless. I pointed out it's used in electronics which proves it's not worthless, i.e., it's actually used for legitimate stuff. People don't just sit an ingot of it on their fireplace. It actually does have practical usage. You said the only reason it was in the electronics is because the lobbyists wanted it in there, and that it was still worthless. I asked if you take the gold out will the gadget still function, meaning is it in the gadget for the same reason it's on the hypothetical fireplace. You said "Yes." I asked what metal was it coating that the gold could be removed and the gadget would still function. You said "SILVER & COPPER!! Dafuq??" I asked if you were saying that they were using the 3rd best conductor to coat the 1st and 2nd best conductors.

Silence from you.

Muhammad Rasheed - I pointed out that the element gold has very specific physical properties responsible for why it has always been considered valuable. I even posted the list of those properties a few times, and even pointed out some of those properties are why gold can even be used in electronics in the first place. You oddly decided to maintain your "gold has no true value" stance. To me, that is a willfully ignorant stance based on everything you are saying I'm guilty of.

Muhammad Rasheed – I started off saying, "If I opened my phone and stripped all the gold out of it, would it still function when I closed it?" But I tried anticipating how you would duck the question: "Well, yo dumbass don't know about electronics, so it probably wouldn't work, dumbass." So I changed my mind and replaced me with an electronic expert. When you STILL said "Yes" I was through with you. 

Muhammad Rasheed - You know what my point was. Gold has actual value based on its unique properties, and the continuous value the entire history of the human species has place upon it can be used to trust it is a worthy commodity to back up the currency with. Its value can be trusted based on the fact that no where in history was it ever treated like it was worthless garbage, so we can have a certain measure of faith people will continue to treat it as if it was valuable.

No comments:

Post a Comment