Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

The Gold Price is Fixed... So What?
Townhall.com ^ | May 2, 2014 | Peter Schiff

Posted on 05/02/2014 3:19:06 PM PDT by Kaslin

click here to read article


Navigation: use the links below to view more comments.
first 1-2021-32 next last

1 posted on 05/02/2014 3:19:07 PM PDT by Kaslin
[ Post Reply | Private Reply | View Replies]

To: Kaslin

You can’t eat gold.


2 posted on 05/02/2014 3:21:47 PM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: xzins

correct


3 posted on 05/02/2014 3:22:50 PM PDT by Kaslin (He needed the ignorant to reelect him, and he got them. Now we all have to pay the consequenses)
[ Post Reply | Private Reply | To 2 | View Replies]

To: xzins
Yes, you can. But it is not nutritious.


4 posted on 05/02/2014 3:26:56 PM PDT by Diogenesis
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kaslin; Toddsterpatriot; Mase; 1rudeboy; 1010RD; SAJ
...Paul Craig Roberts, former Assistant Secretary of the Treasury under Reagan, is perhaps the best-respected voice calling attention to this controversy.  Roberts argues that large banks...

How about we just stop there.

5 posted on 05/02/2014 3:29:43 PM PDT by expat_panama
[ Post Reply | Private Reply | To 3 | View Replies]

To: expat_panama

OK out with it, what is your heartburn with this guy...


6 posted on 05/02/2014 3:31:06 PM PDT by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Diogenesis
--nor a good idea.


7 posted on 05/02/2014 3:31:58 PM PDT by expat_panama
[ Post Reply | Private Reply | To 4 | View Replies]

To: Kaslin

Today’s economy is a video game played by the people who wrote it, and know all the back doors. Anyone playing who isn’t one of them is part of their entertainment.


8 posted on 05/02/2014 3:33:48 PM PDT by pallis
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

If you know there’s a fix, trash the fix and sweep the table.

George Soros knows how to do that, economically. Much to our chagrin, politically.


9 posted on 05/02/2014 3:35:25 PM PDT by Uncle Miltie (Mohammed was a Child Rapist and Islam is a Totalitarian Death Cult.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

if the gold price is fixed, how come it goes up and down so much?


10 posted on 05/02/2014 3:39:51 PM PDT by faithhopecharity ((Brilliant, Profound Tag Line Goes Here, just as soon as I can think of one..))
[ Post Reply | Private Reply | To 1 | View Replies]

To: taildragger
...what is your heartburn with this guy...

lol!  OK, I apologize for slipping off the issues, but my immune system always makes me break out in hives whenever PCR's name comes up.   Seriously, what we're talking about here is how the price of gold soared to a peak, and now is falling back--

--just like it did three decades ago.   The idea that gold's price is supposed to not go back to $500 this time is unrealistic, and to blame the return to normal on some kind of conspiracy is right out of tin-foil land.

11 posted on 05/02/2014 3:43:31 PM PDT by expat_panama
[ Post Reply | Private Reply | To 6 | View Replies]

To: xzins

You bet.

Fact is, in real bad times, ya couldn’t swap a chunk of gold for a ham sandwich or a gallon of fuel.


12 posted on 05/02/2014 3:50:04 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Kaslin

The fix in gold has only one reason. Fort Knox and the New York Fed. has NO GOLD. If it ever came out that the fat lady has sung the show would be over and the curtain would come down. The market right now reminds me of a ship sinking as the band plays “ Nearer to thy O Lord”


13 posted on 05/02/2014 3:56:43 PM PDT by lostboy61 (Lock and Load and stand your ground!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Kaslin

The markets are fixed...until it’s you, the shoe repair man, the moonshine distiller, the cattle rancher, and the farmer.

Are you going to trade a beef cow for shoe repair? (No)

Are you going to trade two heads of lettuce for one head of cattle? (No)

Are you going to trade a quart of your best moonshine for a shoe repair? (Maybe)

The point being there will ALWAY be a place for currency of some sort.

Native Americans sometimes used sea shells....was there counterfeits created...no doubt, but the had to go collect those shells => hence, they added value!


14 posted on 05/02/2014 3:58:27 PM PDT by Fitzy_888 ("ownership society")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Diogenesis

I did find a recipe for golden cake.


15 posted on 05/02/2014 3:58:54 PM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
[ Post Reply | Private Reply | To 4 | View Replies]

To: dragnet2

One of my concerns with gold is just that.

In a time of crisis why would people swap anything for a piece of gold? Since they’re not used to it being “money”, why would they suddenly swap something of real value to them for something they wouldn’t know how to use?

And if its market or inflation ups and downs that a person is trying to protect himself against, then these same people have to admit that gold also goes up and down.


16 posted on 05/02/2014 4:02:22 PM PDT by xzins ( Retired Army Chaplain and Proud of It! Those who truly support our troops pray for victory!)
[ Post Reply | Private Reply | To 12 | View Replies]

To: expat_panama

Don’t forget, Peter Schiff is the “best-respected voice” [snort] who said gold will hit $5000/oz. Although in fairness, I think his time-frame hasn’t elapsed.


17 posted on 05/02/2014 4:06:49 PM PDT by 1rudeboy
[ Post Reply | Private Reply | To 5 | View Replies]

To: expat_panama

Is that supposed to be inflation adjusted dollars? Gold was certainly not $500 and ounce in the 19th century. More like $20 an ounce.


18 posted on 05/02/2014 4:34:19 PM PDT by Hugin
[ Post Reply | Private Reply | To 11 | View Replies]

To: xzins

People always need a medium of exchange. When fiat money is no good, historically people have used gold and silver. My real problem with gold is it’s worth too much for everyday transactions. How is a pile of gold Eagles going to help you buy a chicken off your neighbor? A silver quarter would be more practical. I suggest stocking a pile of old quarters and dimes, along with your actual survival supplies.


19 posted on 05/02/2014 4:38:32 PM PDT by Hugin
[ Post Reply | Private Reply | To 16 | View Replies]

To: Hugin
Is that supposed to be inflation adjusted dollars?

Yes. 2009 dollars.

20 posted on 05/02/2014 4:53:14 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
[ Post Reply | Private Reply | To 18 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-32 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson