Posted on 04/24/2011 5:56:00 AM PDT by Oldeconomybuyer
We’re not the only ones who are broke. But, yes.
Yes.
Indian people have a history comparable to that of the Chinese and they are also buying gold.
So, that gives us half the people in the world preparing for imminent economic disaster, and the richest people in the world preparing to bug out to "Europe" and "America" ~ 'cause that's where their gold is!
It's hard to figure out what's happening to the "dollar" in all that because this is what's happening to the "over seas dollar".
Maybe a reference to Portuguese, Belgian and Spanish economic history in the 1600 - 1800 period might be in order.
The Spanish Milled Dollar continues to have strong value in the open market.
Those cows have left the barn. The only reason that everyone doesn't already know this is that they are in deep Leftist denial. The talking heads aren't stating the obvious, because the "connected money" needs to get fully repositioned without trillions of dollars of 401k money stampeding for the same exits.
It’s all about perception. If everyone thinks we’re broke then the price goes up.
But, yeah, we are and getting more so every day that loser is in office.
i look at the price of gold as an indicator of the strength of the dollar, not the intrinsic value of the gold itself the more dollars it takes, the weaker the dollar
The Pillar Dollar. The Cobs. They still have worth. Pieces of eight. Doubloons!
I dislike the Left intensely, but I don’t believe they are stupid. IMHO, their behavior is not a matter of irrational denial. They know very well that the economy is in collapse mode; they are simply trying to keep this ugly reality penetrating through the thick skulls of the general public until the 2012 election, when they will then loudly proclaim it all to be the fault of the Republicans and capitalists.
Mark my words on this. I am convinced this is the Left’s game plan.
Gold is a good conductor of electricity, but has few other practical uses. As end of civilization currency it's worthless, (at least to me.) I'll barter you some food for ammo, but certainly won't accept Gold in exchange for anything.
As end of civilization currency it’s worthless, (at least to me.) I’ll barter you some food for ammo, but certainly won’t accept Gold in exchange for anything.
1. People with spare food or ammo in a crisis will gladly be taking gold for some of their spare supplies. Because...
2. While gold might not help you survive a crisis (though it can, as point one illustrates) it has ***always throughout human civilization*** helped wealth survive a crisis.
Also, there has never been the time when gold did not buy the affection of beautiful women.
Gold is rising because:
1) the ongoing fiscal insanity in the US
2) the ongoing printing and subsequent devaluing of the dollar
3) the world is pegged to the dollar...1 & 2 apply here, as well.
No. It is called a world wide shortage. Anybody bothering to check over the years would have seen gold use in the world going up and up and production not keeping up.
If a huge gold vein was discovered tomorrow, and it might happen at these prices, watch the price tumble.
PS: What do you think goes into all these electrical devices in minute quantities in each and every one? Add to that the quantities used in currency and so much of the world having a few dozen gold coins in reserve and what do you expect?
Also, don’t fall into the straw-man rhetorical trap of implying that those who advocate some precious metal investment are counseling it as an alternative to buying food and other tangibles necessary to life.
Also try to avoid the bad logic of those who argue from the false (or improbable) premise that no food exists, therefor gold won’t save you. (If no food exists, then nothing will save you.)
I remember going shopping at a Supermarket in Rio in the early 90's before the change to the real. A woman was reaching for a can on the shelf while a clerk was busy trying to keep up with marking each can with the current price. The inflation rate was 300% if I recall at the time.
As the woman put her hands on the can, the clerk hit the same can with the new price tag. The woman turned so I could see her face...the rage was unnerving. The clerk was lucky not to lose some teeth that day or have a can thrust in an uncomfortable location.
I don't believe our leadership is as competent as the Brasilian government was at that time. I believe our government is going out of it's way to make this third world scenario reality for all Americans.
When you change your mind, and you will eventually, will be about the time we gold bugs should sell.
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