Gold Price Ignorance

ScottT
By ScottT on Tue, Feb 5, 2013 - 6:04pm

This fellow trying to give a gold coin away to random people if they can guess the spot price of gold within 25%! 

Rather entertaining for "PM bugs" !  I wish that I had walked by...

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31 Comments

livsez's picture
livsez
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The game

As a test to see if anybody is paying attention, I play the same name the price of gold game every so often with people I know.  Some people I've played with more than once.

I still have the coin.

nick707's picture
nick707
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Public ignorance.

The public ignorance in the U Tube video is the reason I am not as afraid of the current administration in Washington DC as I am of the 50.5% that voted them in.

Gorilla23's picture
Gorilla23
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Gold Price Ignorance

This video is pretty stunning.  Thanks for posting it.

shawns333's picture
shawns333
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Takes some guts!

Hilarious video laugh

It does take more courage than I have to do this test.  Although the results are absolutely not surprising.  My only fear is that a random person of the minority walks by (like us), who easily would nail the price within not +/-25%, but actually +/- $10 of the day's spot price wink

Wayne Grow's picture
Wayne Grow
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This is why the "sell your

This is why the "sell your gold" places are cleaning up.

Jim H's picture
Jim H
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People are not just ignorant about Gold

Almost nobody actually knows what money is - how it is created in our system (as debt) and how it is destroyed (as debt is paid off).  Most don't know that money is created in the banking system (vs. by the Gov't).  Most don't know that it has no backing other than faith.  Most don't know the dismal history of fiat currencies, nor how predictable is its decline once certain benchmarks of debt are achieved (see Reinhart and Rogoff, "This Time is Different").  

Few will wake up before it's too late.  When the commercial signal failure occurs, Gold and Silver will quickly disappear from the markets.. nobody will be selling.  Too late.  

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/2/4_Emb...            

AkGrannyWGrit's picture
AkGrannyWGrit
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Message About Gold

Thread - "Gold Price Ignorance"
End of Video - "Good By Useless Eaters"

Message - people who don't know the price of gold are stupid, ignorant, inferior and useless. Those that do are smart, superior, arrogant and indifferant.

Patting yourselves on the back are ye? Sticking your chest out and strutting with a little more swagger? Did ye have a good laugh?

Be wary my young friends, "there by the grace of God go I" meaning someday you may walk a path others have traveled.

AK Granny

Jim H's picture
Jim H
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AK Granny

I don't think Mark Dice was saying this in his own voice.. I think he was trying to voice the position of the "Illuminati" and their disdain for the common man.  His work is informed by his belief in the Illuminati... not something I follow so much.  I don't think Mark has disdain for the average man.. just an acknowledgement of their sheepleness and ignorance... which is factual.        

shawns333's picture
shawns333
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You misunderstood

The presentation was, obviously, tongue in cheek and trying to get a point across about many things:

- normal people have no understanding of the price of gold

- normal people have no understanding of what is going on economically and all the factors involved in why the price of gold is even relevant

- normal people on the street are so ignorant and/or jaded that even the promise of a "free gold coin" won't have them stop for even a few seconds to see if it's some scam or genuine

- etc.

These are the reasons why I said it was "hilarious" and it has nothing to do with an arrogant attitude.  As well, I don't know this Mark guy and it looks like he has a book he is promoting and his comments at the end were sarcastic and not his own, if you are familiar with the subject matter that he alluded to and apparently what his book is about that he referenced at the end.

Regards, Shawn

AkGrannyWGrit's picture
AkGrannyWGrit
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Thanks Guys

I appreciate your comments and I was not try to be mean just offer a different perspective. Though the presentation was tongue-in-cheek as you say the propensity to judge and blame is all to common. Life becomes so much easier if we can sort out the world into neat compartments. They (whomever they might be) are to blame, they should have known, if only they...., they are ignorant, they are trying to control us, they etc., etc., etc. People who know the price of gold, well that doesn't make them smart and those who don't ignorant. Personally, if I were having a heart attack I'd rather a person know CPR than the price of gold. How many people don't know CPR and yet (they) are not referred to as ignorant. My fear is that as times get tough people look around to find "who is to blame" and quite often blaming a victim is popular.

Respectfully

AK Granny

WH's picture
WH
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Smiles

The video made me smile. Much appreciated. Would LOVE to run into this guy one day...

ScottT's picture
ScottT
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Pawn Shop Profits

For the uninformed who need quick cash and go to the pawn shops with their dusted off one ounce gold coin that Grandma gave them for Christmas years ago they walk out thinking they just hit the jackpot with a $100 bill in their pocket!  

Wendy S. Delmater's picture
Wendy S. Delmater
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free gold coin contest

Oh good grief. And these people vote on who spends our tax dollars.

I wanted to cry.

livsez's picture
livsez
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No Dice

Patting yourselves on the back are ye? Sticking your chest out and strutting with a little more swagger? Did ye have a good laugh?

Be wary my young friends, "there by the grace of God go I" meaning someday you may walk a path others have traveled.

I appreaciate the alternate perspective Granny, but just to be clear, when I've played this game with people I know it's preceded by conversations about the economy and money.  It's done with humor and compassion while trying to help offer friends and family gain some understanding and awareness.  For many it's been an eye opening experience that plants a seed in their mind and has them questioning how our money system actualy works.  

jasonw's picture
jasonw
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Vegas Billboard

I am curious how much one of the digital roadside billboards costs to rent.  I think it would be great to stream realtime data and visualizations of the value/worth of G&S vs the dollar and promote a little education to the masses as they travel.  20 seconds to plant a seed of thought.  Think about the conversations that could take place during those long stretches of desert wasteland. 

RJE's picture
RJE
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Very,

...unnerving quite frankly. Sad. Some make it and some don't,  it's always been.

BOB

AkGrannyWGrit's picture
AkGrannyWGrit
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Lucky Dice

Livsez, not much out there that beats humor and compassion! Your friends are lucky to have you plant valuable seeds.

Jason, great idea. Hmmmm maybe a board game?

Bob, unfortunately you are right. Often times it's not the good guys that make it though.

AK Granny

RJE's picture
RJE
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That's true Granny,

...what struck me about the film wasn't the Gold at all. I seen the young Men with their Ladies and they didn't care about the Gold they cared about their time together. Actually, it is quite common to place yourself in a protective posture (which they did) when a stranger affronts them/us with anything. Plus the salesman broke up their intimate time together. I know I have brushed many people off, not even hearing what they wanted to say or give away with a protectiveness as I walked with my Lady. Some understand this some Folks don't. I actually agreed with your postings as well as everyone else's. Just the times we live in is the best I can say.

Honestly, I made no judgements of this video per se just a general statement that is true of all time and place. I actually had some moments of sympathy like the heavy set Lady that looked poor, and the older gentlemen in the beard who was probably just enjoying his day, and had it interrupted. He probably doesn't watch TV and would rather take in the visuals with some exercise (something everyone says is as good as Gold here at PP).

I agree, we were probably a little too smug about the video and full of ourselves. It wasn't my intentions to show this but maybe I did. My bad then.

Be Good Granny

BOB 

LesPhelps's picture
LesPhelps
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Illuminati

So, is Bernake a member?  How about Obama?  :-)

LogansRun's picture
LogansRun
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Jim has it right

I'm not a fan of Mark Dice, as he's a bit full of himself.  But Jim's right in this regard.  Mark is a firm advocate of the belief that the Illuminati Families are in control of the Western World, and look at Humans (other than themselves, which they don't think they really are human) as simple animals to be herded, culled, and used as they see fit.  His remarks were based on those beliefs.

AKGranny, your words are very true in most instances.  I don't think they apply to this particular situation though.  But they should be read and memorized anyway.

Be well.

Jim H wrote:

I don't think Mark Dice was saying this in his own voice.. I think he was trying to voice the position of the "Illuminati" and their disdain for the common man.  His work is informed by his belief in the Illuminati... not something I follow so much.  I don't think Mark has disdain for the average man.. just an acknowledgement of their sheepleness and ignorance... which is factual.        

thc0655's picture
thc0655
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Life-long learning

I grudgingly, but drastically, lowered my estimation of the knowledge and intelligence of our fellow travellers years ago, but not after spending years idealistically expecting more and offering to help.  I'm still trying to help and contribute, but I expect much, much less.  These days I focus on capitalizing on (and occasionally creating) "teachable moments" and "tipping points."  Truth became stranger than fiction last year when at work I was flagged down in my police car.  The man was concerned about a potential crime of which in the future he might become a victim. He seemed to be of average intelligence and has lived in America his whole life.  Since the crime was not currently imminent but he knew what the signs would be that it was about to happen, I advised him to call 9-1-1 immediately if he saw those signs.  

"What's that?" he asked.

"You know, call 9-1-1 to get the police to come out here and help you."  

"Oh, OK.  What's the number for 9-1-1?"

That epic fail notwithstanding, I bet that man had his mind full of information, much of which I am not aware of myself.  He might very well have known who won the last round of "Dancing With The Stars"  and the names of the host and gorgeous"letter-turner" on "Wheel of Fortune."  It's hard to get the average person to focus on important things instead of TV and other popular media.  And I don't just mean the price of gold, but it's also hard to get them to focus on their child's homework and school performance, their diet, their safety while driving, and the signs of cancer when they're experiencing them (just to name a few).

One of the main problems as I see it is most people don't value or practice "life-long learning."  Not only don't they know what they don't know, THEY DON'T CARE.  Somewhere, somehow, the natural curiosity and fascination with the world which they had as young children has evaporated.  They certainly didn't learn in public school how and why to keep learning and growing throughout their lifetimes.  I'm always dismayed (but no longer surprised) when public surveys reveal how few people have ever read a whole book since completing high school, or who have not read a book in last 12 months.

I guess this is the way it's always been, but it's such a shame because it doesn't have to stay this way.

In the meantime, I've tried to adjust my expectations to take into account that this is the way it is.  Part of my adjustment includes trying to be prepared for those tipping points when the great majority are forced by events to pay attention to something (like an economic disaster) and then suddenly turn and stampede.  When the average person is suddenly and intently interested in the price of gold, I hope I'm safely out of harm's way with all my preparations in place.

RJE's picture
RJE
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I'm sorry Folks, but Granny is right...

...and her thread bothered me last night and today.

I think all the video did was to satisfy some need in us "ENLIGHTENED" ones for some shits and giggles at the expense of other Folks in society that we have NO CLUE about. I now find the dude trying to unload that bloody Gold coin as a creep (so did many and rightfully so in the video) and I would avoid him too. Fact is I probably would never have even seen the Gold coin in his hand if I was with Barb (my wife). I would have zeroed in on his neck and wondered how I would place a quick piece of meanness there to stop his intrusion on our lives, and as a protective response towards my Lady. So sorry to even have seen this video. The dude looked and acted like a pimp, and all of us would avoid the pimp for the same reason as these Folks did in the video. Just natural and quite smart are my new thoughts.

Note: I always reserve the right to change my mind at a moments notice. Consider this my moment then.

YUK!

BOB

shawns333's picture
shawns333
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Well said

Wow, what a great post.  It's great to know that we have thoughtful folks like yourself out there amongst the ranks of police officers.  I have lost some faith seeing how the ranks (and perhaps the type of folks they're recruiting?) have recompose themselves in recent history.  There seems to be a different focus there, rather than to serve the public as the first priority.  Maybe that's always been the case and I've been slow to realize that.  I hope you don't mind that analysis.  It seems to be a popular observation these days.

You bring a realistic view of what you see out there, but you don't go down the path of sounding too jaded, when I'm sure you've seen a lot to make you that way.  Great points you touched on about how real learning happens in terms of those precious moments that a "tipping point" presents itself.  Nothing could be more true about how people can learn something important in life.

The life long learning point is also a great observation.  Those of us that look at that as normal (as just like breathing), forget that there are so many that do not.  In fact your "book since high school" thing I've heard long ago and almost shocked me to realize it again.  Amazing.  You're right, probably much of it as same as it ever was.  There was a posting on Zero Hedge yesterday from Jim Quinn's "Burning Platform", by the way, that I thought was just excellent.  Jim seems to always have high quality articles and this one, particularly, really nailed the landscape well.  If folks haven't seen it, I highly recommend reading it.

Thanks again for a great post and sharing your thoughts.

RJE's picture
RJE
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THC0655,

...Yes, this sounds like the "STREET" mentality out there, and you must be challenged at times to keep it all together.

May I ask a respectful question, actually I am going to anyways but I want you to see what I am asking as respectful. How many police officers have Gold? How many police officers do you suppose do not read a book a year? Are all policemen as introspective as you are? Are all policemen lawful? Are their some off balanced policemen in the ranks, mentally, in your opinion? Do all policemen know the phone numbers to their loved ones? Are their some policemen who don't know their badge numbers?

I ask these things because I believe in everything, in all classes, from the Rich to the Poor that it is the social environment that has a strong and lasting impression on ones life. If you fear every day for your well being, and need to survive, then that will be your life's work. If your society and social atmosphere is safer and protected then you have more time to satisfy the curiosities of your youth. For instance: In Detroit, if you call 911 for a neighborhood shooting you may get a response the next day. If you call 911 were I live the response is immediate, 5 minutes tops. The burdens are way different, and the stress to survive is quite different. 

Please shed some light on this for me as the story you told while brilliant and sad was also incomplete. Not in the sense that when it is figured out that Gold is money and people will take from you, with force, all that they can. That's a lock. I am suggesting that social realities is what trains the mind to behavioral actions.

Respectfully Given

BOB 

LogansRun's picture
LogansRun
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Neither are.  Bernanke is a

Neither are.  Bernanke is a few rows above Obama in the pyramid though, if that makes you feel any better.  But Bernanke is 3-4 (maybe 5-6) stone rows down from the pyramids top "eye stone".  

LesPhelps wrote:

So, is Bernake a member?  How about Obama?  :-)

anexaminedlife's picture
anexaminedlife
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I asked my very smart, very

I asked my very smart, very literate 25 year old daughter how much she thought an ounce of gold was worth. She was hesitant to guess, mainly because she had no idea and didn't want to look ignorant (this despite my occasional discussions with her about buying precious metals). She guessed $75. Well, she holds a BA from a prestigious university, reads a lot and knows a lot + she has a pretty responsible job for a woman her age, but her interests and career are not in finance or economics. She asked her boyfriend, also worldly and well-educated, the same question; he guessed $800. I am willing to bet they could ask  what seems to be a simple question - to them - that would stump any one of us. 

Those of us who view the economy with Austrian glasses think knowing the price of gold is important. Well, maybe it is and maybe it isn't; maybe it is just an ancient relic. To jump to the conclusion that just because people have no idea about the price of gold, they are ignorant, big mac eating, illiterate fools who won't know what hit them when the system blows apart is a tad arrogant.

Grannys post bothered me at first too, but come to think of it, she's right.

 

westcoastjan's picture
westcoastjan
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Posts: 467
knowing the price of gold is one thing...

Knowing how to live life well regardless of the price of gold is another. Sometimes ignorance is bliss... I know most of us care a great deal about the future and therefore pay more attention than most. But we must not forget to enjoy life while traveling this road of enlightenment.

Jan

RNcarl's picture
RNcarl
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Posts: 361
anexaminedlife wrote: I asked

anexaminedlife wrote:

I asked my very smart, very literate 25 year old daughter how much she thought an ounce of gold was worth. She was hesitant to guess, mainly because she had no idea and didn't want to look ignorant (this despite my occasional discussions with her about buying precious metals). She guessed $75. Well, she holds a BA from a prestigious university, reads a lot and knows a lot + she has a pretty responsible job for a woman her age, but her interests and career are not in finance or economics. She asked her boyfriend, also worldly and well-educated, the same question; he guessed $800. I am willing to bet they could ask  what seems to be a simple question - to them - that would stump any one of us. 

Those of us who view the economy with Austrian glasses think knowing the price of gold is important. Well, maybe it is and maybe it isn't; maybe it is just an ancient relic. To jump to the conclusion that just because people have no idea about the price of gold, they are ignorant, big mac eating, illiterate fools who won't know what hit them when the system blows apart is a tad arrogant.

Grannys post bothered me at first too, but come to think of it, she's right.

Well,

I have chewed on this thread for a couple days.

My conclusion is, I would have avoided the guy as well. "Too good to be true." would have been running through my mind the entire time as I passed. What we can't see, is if there was a "camera crew" or just another guy with a small video camera.

Yes, I would have "won" the coin. But that IS because I have special knowledge. It appears that the guy was trying to take a page out of a "Jay walking" segment that Jay Leno does on his show.

I am sure if there was some " legitimacy" about how the guy presented himself, more people would have engaged him and surely he would have "lost" his coin.

Here is a question that is just as vitaly important. Actually, critically important to each and everyone's continued well being.

How long can someone go without blood circulating before there is a signifigant risk of brain damage or brain death? Or, how about - How much blood can one loose before there is a chance of organ failure or death? (O.K. that was two questions.)

If you don't know the answer to either of those questions right off the top of your head, it could mean the difference between life or death for your or a loved one!

Does that make you any less "prepared" or "enlightened?" I doubt it.

I get the point the guy was trying to make, if in fact he was trying to make a point beyond his own agenda. The way it was presented was gratuitous.

ScottT's picture
ScottT
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Posts: 40
Curiosity was piqued

RJE - I saw a twinkle of interest by the lady who was walking with her male friend (near the end of the video).  She looked to me like she wanted to find out what he was talking about but couldn't get her companion to oblige her interest.  Too bad for her she might have walked away with the coin? smiley

shawns333's picture
shawns333
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Posts: 41
Yes, indeed

Her hesitation was really strong.  I'm sure she regretted not taking action and pursuing her curiosity. smiley

RJE's picture
RJE
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Posts: 1369
Yes, I seen that too...

...and I attributed that to Womens good common sense as well as Women really do know the value of money better than Men as we are hunters and Women are gatherers. The Women in my life has shown me this anyways.

BOB

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