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Gold Price

Discussions regarding the world financial crises
glasshouse
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Canada

Re: Gold Price

Postby glasshouse » Thu Jun 06, 2013 4:27 am

Hi GreenEnergy, the one flaw you mention is the main reason I invest in it. Every currency in the world is measured against the American Dollar. when the dollar collapses the price of precious metals will be the least of our worries. Since gold and silver are recognized globally and the one form of currency that has lasted through the rise and fall of countless empires, I am more than happy to keep some on hand for a long term prep. I may not need it tomorrow but there will come a day.... As for ETF's: I wouldn't leave my beans or bullets in the bank so I sure as hell am not giving them my gold. We should hope the price keeps dropping so everyday people have a chance to buy into the "Currency of Kings". Thanks.
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GreenEnergy
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Re: Gold Price

Postby GreenEnergy » Thu Jun 06, 2013 8:34 am

Lets hope you are right Glasshouse. I am not looking forward to the possiblity of having a lot of $4 an ounce paperweights. But if people buy a 1000 in silver and it ends up tied to the american dollar valuation, then it is really little different then buying American paper dollars or phony ETF precious metals. I am skeptical that it will stay down forever, but the bankers seem intent on driving it down much like they did during the Roosevelt era, so that the government can then ban the ownership of it and force people to sell it at drastically reduced levels before they move to confiscation and revaluing the metals that the level they really should be in comparision to fiat currency.

I would be happy to be wrong on that, but unless a world Gold standard happens in the next couple years, I suspect precious metals investments will turn out to be yet another form of Ponzi scheme. Historical use of precious metals as a shelter makes sense, but the current market crash in PM does not.
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Offgridhippie
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Re: Gold Price

Postby Offgridhippie » Fri Jun 07, 2013 2:11 am

[quote="GreenEnergy" but the bankers seem intent on driving it down much like they did during the Roosevelt era, so that the government can then ban the ownership of it and force people to sell it at drastically reduced levels before they move to confiscation and revaluing the metals that the level they really should be in comparision to fiat currency.

I would be happy to be wrong on that, but unless a world Gold standard happens in the next couple years, I suspect precious metals investments will turn out to be yet another form of Ponzi scheme. Historical use of precious metals as a shelter makes sense, but the current market crash in PM does not.[/quote]

Do you guys wonder If the price of Gold is driven down on purpose? - so the central banks can afford to buy more gold at an artificial low. The only reason I throw that out there - the central banks have been the net buyer of gold ..since when? 2010/2011'? The macro data look likes crap...I wonder If the central banks know the fiat currency is coming to an end near you :lol: ! I think we are going to see more ETF E & E (escape/evasion) in the future.... :o
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I never thought costco shelving could be so amazing

glasshouse
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Canada

Re: Gold Price

Postby glasshouse » Fri Jun 07, 2013 7:39 am

Hippie, I think of that all the time. Central banks are prepping too...
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GreenEnergy
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Re: Gold Price

Postby GreenEnergy » Fri Jun 07, 2013 7:37 pm

Offgridhippie wrote:Do you guys wonder If the price of Gold is driven down on purpose? - so the central banks can afford to buy more gold at an artificial low. The only reason I throw that out there - the central banks have been the net buyer of gold ..since when? 2010/2011'? The macro data look likes crap...I wonder If the central banks know the fiat currency is coming to an end near you :lol: ! I think we are going to see more ETF E & E (escape/evasion) in the future.... :o


Sorry I wrote a long detailed reply to this and the system ate it ...........

So in short I will say "yes" the Central Banks benefit mainly long-term, because they are hedging their bets. The ETF management agencies like HSBC and JP Morgan benefit in the here and now because they can manipulate and make profit on small margins, unlike Joe and Jane Average who have to pay spot prices to dealers. The bankers and fund managers feed off each other like symbiotic parasites.

Plan B If the system collapses and we go to a gold standard, then they have the gold they bought now for cheap to use for value in the future.
Plan A if the system does not collapse then the gold price can be manipulated to allow the Central banks to sell the gold, or make money off being the holders of the gold for lease or as physical insurance on said credit loans.

Over the years I have found it is a rare banker that does anything with just one plan goal in mind.
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ICRCC
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Re: Gold Price

Postby ICRCC » Fri Jun 07, 2013 7:47 pm

Ah GeenEnergy I guess then you are really calling them “scheming, manipulative symbiotic parasites”. :lol:
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ICRCC
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Re: Gold Price

Postby ICRCC » Fri Jun 21, 2013 4:05 am

Gold has plummeted to $1278 per oz USD. And the Dow is down 358 points. Time to hunker down.
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Offgridhippie
Posts: 85
Joined: Mon Aug 06, 2012 5:52 am

Re: Gold Price

Postby Offgridhippie » Tue Jun 25, 2013 3:57 am

ICRCC wrote:Ah GeenEnergy I guess then you are really calling them “scheming, manipulative symbiotic parasites”. :lol:



You nailed it!!

What's the perceived time horizon of the banking system going into cardiac arrest or systemic failure?
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I never thought costco shelving could be so amazing

Offgridhippie
Posts: 85
Joined: Mon Aug 06, 2012 5:52 am

Re: Gold Price

Postby Offgridhippie » Sun Jul 14, 2013 5:48 pm

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I never thought costco shelving could be so amazing

CABGUY
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Joined: Mon Sep 23, 2013 6:45 pm

Re: Gold Price

Postby CABGUY » Mon Oct 07, 2013 6:31 pm

I have some gold and silver but if the shit really hits the fan you will be able to trade more if you have alot bic lighters and ammo.paper money will make nice tp and gold and silver would make good sinkers for fishing i guess.
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