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Sutton, Antony: The War on Gold
Sure, I'll sell my gold.
Pay me in SILVER.
I've tried that all week.......no takers.
The war on poverty is really going well
Haven't you heard?
The war on poverty is over.
Maybe this helps.. I posted this in some other article as well..
Some news I got from my brother there is a silver futures exchange being opened in Mumbai, India where they are trying to access 1500 tons (approx 47,250,000 oz of silver) this year as reserves.. trying to get some valid leads to confirm this story.
calc done as 1500tons*1000 kilos per ton*31.5 oz per kilos = 47,250,000
one link from 04/26 is here
silver trading on MCX is ranked #1 by volume in the world.. and here is where the future trading is being introduced.. http://www.mcxindia.com/
I saw a headline on CNBC World a few minutes ago about a new silver exchange in India, i think.
Yes.. I saw it too.. thats not the point I was trying to make.. I live in the USA but I come from India and what I see in this bit of news is that if there is now an exchange in India trading silver futures then the silver trade is definitely moving out of the US.. Give it one year to surpass the trade volume on the comex and see the global prices of Silver decided in India... The appetite of India for consuming PM's is more than the combined appetite of "The Bernank and Morgue" for the FRN's.
Exactly -- highs adjusted for inflation are around $2400/$140 for gold/silver respectively.... and we're in much worse shape now.
The PMs are not going parabolic, the dollar is in a Kamikaze nosedive and the impact has not been priced in yet. People just don't want to think about it.
Don't forget, Paul Volcker was gagged and packed off to God's little waiting room somewhere long ago after a brief appearance. No chance of rate hikes to knee-cap PMs. Other things we lack: industrial base and our domestic energy tap has been turned off. Europe is no better off.
We remain surrounded by hostile Central Planners who want to destroy the USD as WRC as the solution to our problems. So, the day the Central Banks start selling gold, instead of holding onto it for dear life, is the day you'll know it is safe to come outside again.
"Just to help you put things into perspective, in 1980 a postage stamp was $.15 cents, a gallon of gas was $1.25 and the Median Household Income was $17,710.00. "
I made $40K that year Trucking!! Fast forward 30 years and I'll be lucky to make $40K trucking. Good thing I was a custom home builder in the interim.
Y'all should read some FOFOA:
You can sell it to me for spot plus $3.00, or APMEX, your choice
"I believe precious metals investors would gladly trade gains from higher metal prices for a return to the days when real estate had value, stocks were constantly driving to new highs and jobs were plenty."
Happily and in a heart beat.
...1980?...Abscam was en vogue...time for Abscam II...FBI...FBI...Bueller...Bueller.
Does anyone here think it would be a good time to sell some physical silver in exchange for gold at this time? 31.5:1
Yes, since I had much more silver than gold I decided to start moving gradually toward more like a 50/50 silver gold ratio.
If you agree with fofoa, you would hold predominantly gold. I think he may well be right, that "free gold" will happen. Fofoa needs to be read and studied; avoid him at your risk.
This ratio of yours, is it based on FRN prices or Troy ounces?
sell silver and gold? im tempted to start prospecting in local creek beds and rock piles where i live. nevermind selling, time to start digging, panning and splitting quartz. ive heard it only costs 5 dollars to dig silver out of the ground. so shouldnt be a problem.
I've got a creek nearby, don't think I haven't tried panning.
Only thing you'll pan out of those creeks is shoes, severed heads, spent fuel rods, and used condoms.
Make sure to ask the dentist for silver fillings, forget those "white" fiat fillings.
Here is Jim Grant from 4/28 on Blmbrg discussing the gold standard and Fed, etc.:
I just sold all my goldstocks. Bought them after the crash in 2008. So it's been a wonderful ride.
But something fundamentally new has happened. The goldprice continues moving higher but the goldstocks goes the other way.
I would re-enter if I were you pagan, gold/silver stocks rally behind the price of the metal.
Wow, a sponsored post with the ZH logo. Sell it while you can.
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