China has its people put a floor under gold price, Maguire tells LFTV

GATA ^ | 18 May 24 | Andrew McGuire

[delta7]

Dear Friend of GATA and Gold:

London metals trader Andrew Maguire tells this week's "Live from the Vault" program from Kinesis Money that repeated attempts by the U.S. Federal Reserve to knock down the price of gold via sale of futures contracts in New York just continue to feed Chinese demand for real metal as the contracts are converted to deliverable instruments in London….

See video.

[delta7]

The corruption runs deep,China is draining western supplies….beating the crooks at their own game.

[thinden]

Heads up

[House Atreides]

“ feed Chinese demand for real metal as the contracts are converted to deliverable instruments in London….”
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Fortunate it’s delivery from London instead of New York. Can’t risk any possibility of detection of potential past shenanigans with gold bullion bars in NYC.

[fella]

If you do not posses the metal all you have is a very expensive piece of paper. Stocks operate in a similar fashion.

[Disambiguator]

One way to own gold:

https://www.goldback.com/

[dljordan]

“an’t risk any possibility of detection of potential past shenanigans with gold bullion bars in NYC.”

Like they’re in Europe?

[Eagles6]

In a grid down, SHTF situation, which we are, likely, heading towards, who would accept them as payment?

[Disambiguator]

Lots of people. It’s real gold.

[Right Brother]

What else would be your unit of exchange? Chickens and goats?

[ChildOfThe60s]

Well, that’s a new one.

[Disambiguator]

Yes, it’s a recent development.

[Eagles6]

I, just, think most people will not be familiar with them, but, who knows? I’ll look into it, more.

Personally, I think actual government minted gold coins, not private mint rounds, would be your best bet, along with pre 65 silver US coins or the 90% proofs the US is minting now.

In the event of grid down, cyber attack, dollar collapse crypto would be worthless and a lot of bartering would be going on.

Food, fuel, meds, water treatment, guns, ammo, booze, ham / cb radios would, all, be good items for trade.

Just my 2 cents.

[P.O.E.]

Unless & until the chickens decide to cross the road. Why, we can only surmise.

[Disambiguator]

I’m not disagreeing with you, just showing one more option to consider.

[Eagles6]

I understand. It may be an option. Thanks

[ChildOfThe60s]

SHTF means barter economy. What works as bartered goods will be determined by the market. Some we know for sure, some we are guessing at. Guess wrong, you starve and die. DEI won’t put food on the table.

[TangoLimaSierra]

In a grid down, SHTF situation, which we are, likely, heading towards, who would accept them as payment?

I guess there would be some trade for gold such as land, for example. But metals are not supposed to be used as payment in a grid down situation.
They are supposed to be for buying into the new currency when the grid is back up. Wealth preservation.

[Eagles6]

The old adage “Beans, bullets and bandages” comes to mind.

[ChildOfThe60s]

A guy who lived through it said that at the peak of the war in Kosovo women were turning tricks to get toilet paper. Another high demand item was disposable butane lighters

I wish I could find some of his writings. Lost them and can’t recall his name.

[Eagles6]

I think I know who you're talking about.

Yeah, tp, soap, toothpaste, every day items will be useful for barter.

Of course, it's better to stock up, now, than have to barter.

A farmer friend filled all of his tanks with thousands of gallons of gasoline and diesel, before Y2k and people laughed at him when nothing happened.

Of course, he used that $0.65 fuel, for years after the price had tripled and quadrupled.