You can’t eat gold.
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.
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.
if the gold price is fixed, how come it goes up and down so much?
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”
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!
Goldbug ping.
Yes, gold prices are fixed and often manipulated to make fiat dollar currencies look better. I don’t care as I see gold and other tangible items of value as my parachute for when the inevitable world financial collapse happens.
Buy when the fixed price seems fair and stop buying if too high or when you accumulate what you deem enough.
I have a stash or precious metals [one ounce & smaller weights] for survival, but only about 4% of my total assets as I see it as a way to tide the family over until new stability is established. Other tangibles can be tools, water treatment items, booze, non electric cooking equipment, food with long use by dates, ammo, weapons, building materials, etc. If the fan never hits the #@% - so what, all can be used or sold later, without me losing the original value.
gold on a dive going into the open.
looks like the fed is dumping contracts to drive down the price going into the day. they don’t mind as they print money anyhow.
I guess they expect some seriously bad economic data today that would crush the dollar (like revising the numbers from last week down from +0.1 to -0.1..-0.8) and are trying to drive down gold to offset the effect on the dollar