Posted on 07/01/2011 6:26:43 PM PDT by SeekAndFind
Edited on 07/01/2011 6:41:24 PM PDT by Admin Moderator. [history]
Good info - I’ve seen it before somewhere...
Might want to think about swapping your paper gold for real, hold in your hand metal. They can’t cover all their paper with metal. But dyodd..”..
... with a world crash, Gold and raw materials exports will be a plus for the US (provided the world is afforded to manufacture them), but a down will be in manufacture and services.
Globalization means to stop this relative dollar superiority and make everyone on the same currency. BUt this will destroy the enjoyment that poor nations have in producing goods for cheap. Globalization means also that we have our economy, the true Economy, that is, diminished.
MEaning, we will not vie on the competitiveness of the free spirit of inventiveness of America, we will not have our “special currency” of excellence, we will not be motivated nor competitive in real economic duel of currency and realEstate/industry strength, and, instead, we will move towards equalitarianism, depression, long term socialism and further communist self cornering into an exuberant or outright criminal consumption and internal self eating.
We have to look at the limited reserve issue. When we sold strategic petroleum, it was not a permanent tap, but a savings. The lower the saving rate, the more likely people can be gauged out in pricing. SAVING! is what gives the negociation power.
YOU do not save in gold or silver today, but gold and platinum in particular, the world reserves being thought to be very limited, means that you will likely have no negociating power. Maybe we do not need much gold, but we need enough to have some negociation and saving leverage in the future. ANd our governments and schemers out there want to destroy saving, because that means tax payers will be at the mercy of the IRS and that means they will need gold really bad.
Watch this scenario going. It’s going to get ugly when people corner themselves. PRices will go up, gold will be crazy high and blood will flow.
“...then maybe we can listen to your explanation as to why Gold will drop to 3 digits.”
IMHO, we’ll see 5-digit gold before 3-digit gold. My rationale? Although gold is no longer as under-valued as it was a decade ago, a gradual increase in price cannot possibly match the expansion of fiat money, whether US, Euro, Yuan, Yen, or whatever. The amount of Central Bank gold is finite, and unable to be increased radically. Therefore, in all likelihood it’s up up up.
I’m too cheap to ante up a box of steaks, but I think bragging rights are just as valuable sometimes. ;^)
Happy 4th to you all!
Who in their right mind would buy gold at historical highs.
When gold gets back down to around 400-700 an ounce. THEN BUY.
Meanwhile, where do you advocate people put their savings until that unlikely day occurs?
Some of you are REALLY sweating now - you have all this gold because you were told to buy it. NOW what? What are you going to do with it? If war breaks out and the country falls apart - not many people will care for your gold. They want food - salt - drink - water - trades. Not gold tooth fillings
I have a proposition: we are equidistant now between $1000 and $2000 gold. Which do you think we will see first? $1K or $2K gold? I’ve got a box of Omaha Steaks (i.e. I will buy you a box of them) that says $2K gold comes before $1K gold. What say you?
THE TIME TO BUY WAS WHEN GOLD WAS $300-400-500 dollars an ounce.
Sorry; I don't understand the question at all.
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