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Gold Below $1,200 As Asset Liquidations Spread Like Wildfire
The European liquidations we discussed earlier courtesy of the ECB MRO and the repo rate spike, which resulted in a massive EURUSD covering squeeze, have followed through into industrial commodities such as oil and lastly into gold. And as liquidations are merely emblematic of a broken liquidity system (as the name implies), the unwind behind the scenes must be fierce. On the other hand, as the only recourse to prevent an all out systemic collapse should the deflationary trend continue, from Ben Bernanke's perspective, is just to print more money and thus solidify the position of the precious metal as undilutable and a currency which can not be backed with toxic MBS and Greek Sov Bonds, today's sell off is a much welcomed respite for the commodity which traded at record highs as recently as this week. Also, our recent disclosure of PM market manipulation via disclosed COMEX-OTC arbing by such former behemoths as AIG then (and presumably JPM now), should only add to your comfort that once the finger on the scales is removed, the natural reaction will be that of a coiled spring.
In the meantime, here is a one year gold price chart.
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watch for an israeli attack on iran this weekend.
Load up on PM's
ah. lightbulb goes off. thank you.
ah. lightbulb goes off. thank you.
Not this week-end. New Moon on July 11th, 12th, 13th. If you are going to do a stealth attack on the Iranian targets, you don't want to have people able to "see you".
Rich
What about the All Star Game?
Israel is going to attack the All Star Game?
Nice. I just spit beer.
the days of that type of warfare are probably long gone. Now you need to look for the "new moon" type media days.....
like a long, long weekend in the US where people can't mobilize and march on washington demanding they stop starting wars. and when the talking heads are all out of town.
yep.
<double post>
New Moon? Are they werewolves?
You also don't want them to "detect you" on "radar".
They wouldn't spoil the Fourth. Ramadan would be a good time for it.
Maybe early morning Tuesday when everyone is digesting the burgers
Just curious how you know this.
Whales eating whales. Rare raptorial whales even.
Another market setup. The architects of the financial matrix are riding herd and squeezing every little operator however they can. There is no safe haven nor protective harbours. Only relativities of wealth preservation.
They have access to information and horizon views we can only dream of.
It's their world, boss. Their world. You've got hope and stubborn gold.
Today is their day. They are ceaselessly disincentivizing the entire productive class. No way to plan for the future, no confidence in anything but PMs.
This mirage of wealth can vanish in an instant in these conditions.
Pray not. Pray not. But prepare.
Thank you, thank you, thank you to whomever put silver on sale today!
http://www.jubileeprosperity.com/market-psychology/selling-1427996-dow-1...
You should also include the link to the PDF as it's easier to read/manipulate (I've linked PDF for you).
http://www.jubileeprosperity.com/?p=482&upm_export=pdf
if anyone still harbors any illusions about the integrity of our markets or our "regulators"....this all should put it to rest today.
corruption rules!!!!!!!!!!!!!!!!
I say Friday will be be black Friday.
800-1000 point drop on the DOW.
I have been waiting about 6 month to say this.
Yes tomorrow will be black Friday and you heard it hear first.
Monday isn't looking good either.
I dont have the time to explain.
You don't have time to explain? What, gotta get the kids to soccer practice? Is there a new Dancing With the Stars on? Gotta take the trash out? Come on, give us the goods. Monday is not looking good? Something against the 4th of July holiday?
I have discovered a truly marvelous proof that it is impossible to separate a cube into two cubes, or a fourth power into two fourth powers, or in general, any power higher than the second into two like powers. This margin is too narrow to contain it.
Too sad to hear that. I was going to post my solution to world hunger, but I really have to get to the Kiwanis meeting. Maybe later, eh?
When all is said and done all these supposed asset prices are a function of a working global credit system. Expect bigger and bigger moves in both directions.
Musical chairs, eventually all the chairs will be gone.
"a function of a working global credit system"
WTF is that?
The opposite of what you have today, where credit creation is growing.
The gold chart looks like the stock charts, credit crunch... huge sell off... bounced off lows. When you owe money you need to liquidate something to pay the bills.
Is Mako a gold bug? I can't remember.
Don't love gold, not hate gold, some for possible trading when the system collapses might come in handing, who knows. I wouldn't hold it thinking I am going to be rich like some of these nutbags think. I have some, some.
I would much rather be able to take care of myself and produce my own food than to hold pounds of gold.
The problem with the goldbugs is they are holders of it when it goes down ignore the negative and when it goes up they cheer. Really what they are doing is the same as the CNBC crowd. Money for nothing and their chicks for free.
I had this one nutbag explain how he was going to buy a whole downtown block in Chicago with skyscrappers included with one gold coin. He read it in a book. :) Most of the goldbugs will do what like they did the last time and time before that and the time before that... ride up and ride down the other side.
This is the only rational vis a vis gold or ANY asset class.
What puzzles me is why gold-tards insist on turning this one particular asset class into an idol. Bizarre and creepy.
I agree... if they were worshipping the Sun and the corn that grows from the Sun I could understand that a lot better.
Which asset do you plan to own to attempt to preserve your wealth when the system collapses?
That's what so many here don't understand:
THERE IS NO PRESERVATION OF WEALTH WHEN THE SYSTEM COLLAPSES.
A select few may be able to transfer money among different asset classes fast enough--and with enough pure, dumb luck--to preserve some fraction of their wealth.
But if the deflationary apocalypse comes--as I believe it will--then your question is akin to asking whether an umbrella or a raincoat serves as better protection against a tsunami.
Food, family, health, safety: these are the assets that will be valued most highly in teh coming years.
It's going to be challenging for sure.
I have no problem if someone wants to hold on to some PMs, maybe they will be used in trade of used goods or something.
For the most part, I would rather my land, food stock, water, shelter, chickens and guns and ammo.
I would invest in a shit load of LUCK if I could find it anywhere. :) Going to need plenty of that.
then I'll wish you some "luck" . . .
since it sounds like you've got your tangibles in sound order, luck is simply extra, eh. . . I like the order you listed them in, as well. . .
by the way, all those who are storing up their golds, if they're not also storing those things on your list, me thinks some gold will be coming your way in trades, hmm?
good post Mako - all the best.
I think I've asked you this before, but what makes you think that those who hold PMs don't already have all of that?
Cha--better to be lucky than to be good. But work on Good - Ned
Lead?
"Lead?"
Yup, the really poor mans PM! It's like trading up. Should you really need Gold/Silver, enough lead can get you some - providing the PM holders are not also as heavily invested in lead and delivery devices as you are...
Booze.
I can't imagine that it might have anything to do with sociopathic politicians and banksters turning their eternally-devaluing and failing Ponzi scam of fiat currency into a vastly more ubiquitous and omnipresent idol --- and forcing EVERYONE to bow at its feet upon pain of death.
Any advocate of gold would be happy to allow any advocate of fiat currency to use paper currency within the freedom of the marketplace if they so chose --- yet curious how the statist, monopolistic defenders of fiat currency invariably refuse to allow those favoring gold the same option.
If the advocates of gold strike you as passionate, it may be because throught history gold has represented monetary and economic freedom, whereas fiat currency has always and can only represent statist coercion, dishonesty, monetary fraud and tyranny.
Bingo.
Because people like you hate it so. You buy what everyone else hates, and sell what everyone else loves.
I'm long TP, but nobody's asking me.
Yeah... man's greatest invention if you ask me. :)
You clearly don't live in the South, else you'd recognize Air Conditioning as the pinnacle of all human achievement.
Lived in the South about half my life. I would take TP over AC any day.
Rather sweat than shiver...plus it's hard to impress the Mrs. when you're in turtle-mode.
You can always wear more clothes but you can't get more naked.
But being naked is fun.
Not when it's freezing out.
Sans the 3 sea shells
Market conditions would likely be much worse today if the TSX was trading today
Happy Canada Day!
Happy Dominion Day (for the old timers)! My TSX miners must get hit tomorrow. Coiled spring tension rises. Hurry up, coiled spring.
Just keep watching those short term rates in the U.S.
http://www.bloomberg.com/markets/rates-bonds/government-bonds/us/
Extreme Futures, if they ever manage to get it right, should have the usual suspects before things lighten up:
Treasuries, Yen, Gold in the winners and Copper, Oil, Silver in amongst the losers:
http://quotes.ino.com/analysis/extremes/futures
Most of the TSX-listed stocks that are also NYSE listed got slammed today. -6% on ABX (Barrick). Totally bizarre, the gold stocks barely have any upside, but seem to have leveraged downside on days like today.
again, could we stop pretending that the massive galactic bullion banks short position doesn't exist? and that they have to cover before they get killed?
and that our "regulators" are standing with their thumbs firmly up their butts once again today?
i mean, let's show the world exactly how corrupt our markets are......and light it up in neon.....
I know I shouldn't be watching, but...Ron Insana is on CNBC bemoaning the "march of the machines" and fearing that this is all "black box trading". What hole did that tool just dig his head out of? These market summations by the CNBC "ALL STARS" are classic!
Cars,
You just have to feel for him, he's a part of the Great Unwashed Masses..........he's in it day after day, is so clueless, it's really sad.(except the CNBC folks believe in their fake system).
Machines my ass.........QE 2.0, ready for take off, kick in that 5 Trillion after burner,,,,,,,,,,,10/4 Maverick.
Hey Cars, I like your handle. Nader here on ZH? Who would have thought!
Even have a whole solution so they not be coffins anymore. Check it out when you get a chance (http://squareandc.net)
Gold, Silver, Land, Community, Self-Awareness, Balance, Detachment, Low needs No wants, in-dependence......
All of the above in no particular order of importance and in just the right proportions for "your" particular circumstance, is about how I see what we all need.
ORI
http://aadivaahan.wordpress.com
come on down lower...I need more.
The question I need an answer to:
Which Hedge Fund(s) are going Tango Uniform?
Because someone got their nuts caught in the golf ball cleaner with this move.
Because someone got their nuts caught in the golf ball cleaner with this move.
Too funny....!!
Agree.
you are a funny guy, mr. galt. I enjoy your radio show, too. thank you.
golf ball cleaners are so tall and high. how can a man get them caught?
i know someone invented a hollowed out pipe like golf club, so men can pee pee in it (sorry if that is gross), just think it is hilarious.
That'll never sell, the entire golf course is our urinal.
Actually, there was a nominee back in 2000 for a Darwin Award. He was drunk. He slipped. His leg turned the crank. His friends had a cell phone and called 911. Good thing a squirrel didn't run by and pick them up.
Store of value!
I'll be using FRN's to wipe my ass before long.
the assholes at the cftc need to be put in medieval stocks in Times Square and pelted with gold and silver eagles by the public - actually add bernanke, geithner and all the other crooks too...would be most gratifying watching wincing like the pussies they are
stop,
you could put me in stocks, and pelt me, if you use Eagles......:>)
Seriously, this is going to kill the little man, and working stiffs.....
I can't imagine not having insurance and cash............95% do not have either.
you would waste gold and silver on banksters?
Yeah. 55grn lead at 3200 fps sounds more like it.
What me worry? When the dust clears the only thing still holding real value will be metal. Look at the doelarr fall! When people can not trust the doelarr, they will panic and run to gold. It will be too late for most. This is all happening so fast.....
DXY in 1985 = 80.
DXY in 2010 = still above 80.
Doesn't sound like it's falling to me. Don't give me that "what about inflation" crap either.
Is our standard of living much higher than it was? Well there's the extra value that you say the dollar lost.
DXY=Crap index
Don't give me papah vs. papah valuations.
**Correction**
DXY in 1985 = 164.72
DXY in 2010 = 84.63
FAIL!
EPIC FAIL!
http://tinyurl.com/LongTermUSDollarIndex
Tap out Johnny Left Hand, tap out.
Fxxkin-A.
WTF was THAT??????????
Worst comment ever, Johnny B.
Price of Gold 1985 ≈ $300-$340
http://www.youtube.com/watch?v=rX7wtNOkuHo
What was the price of a movie in 85? A hamburger? Johnny B don't know.
In '85 he was only concerned with diaper rash.
If that. The boy is still in school. I'd peg his birthdate as 1987 at the earliest. More likely 1989 or 90.
In 1975 it was .29 cents. You could get 2 Hamburgers, Fries and a drink and get change back from your dollar. There was actually a TV commercial about it. Around 1980, the commercial changed so it was only one hamburger not two. Ah..inflation.
I remember $3 dollar movie tickets.
In 1965 we loaded up a car full of people and went to the drive in for $1. It was "Car Load" night. Great popcorn, and sex under the big screen was fantastic. Just don't forget to remove the speaker before you drive off...
JB,
Uh, "Is our standard of living much higher than it was?"
Fk No............and by no means for sure, there's been NO inflation since 85.
Salaries,wages, cost of living ratios are so much higher now percentage wise, it's laughable.
You must be the Exception To the Rule.............
No the standard of living is not higher. Maybe for you. For many they are waiting in lines for Medical Clinics by the thousands. Millons on welfare and food stamps. There are so many more people on lines in homeless shelters that thousands are turned away.
Or did you not notice that there are millions unemployed? That people have lost life savings in the ponzi markets?
And why is the U.N., Russia, China, Japan, Iran, France, Germany, et al trying to replace the dollar as the world reserve currency? Because they know it's garbage and headed to the trash bin of history.
Looks like all the Europeans just sold every ounce they had and rushed back to the "safe haven" of the Euro and Pound.
Yeah, that's it. LMAO.
from my perspective in the UK as much as I see the fallacy of trusting the Dollar, it has a whole load going for it in the next quarter - expect a big rally in the toxic greenback versus other fiat looroll as the ignorant masses know no other way
truth. We get ahead of ourselves here at ZH. The vast majority of people still fall in the "fool" camp. Look at how many posts we still get here about "gold bubble" and the "direction" of gold. Solid proof of a lack of understanding of gold/silver's monetary history and how our current system works.
What I'm trying to say is that there is no shortage of greater fools to keep the game going for quite some time. Gold and silver will be taken down just like they were in 2008 along with everything else as the dollar skyrockets, simply a function of the false belief of "dollar" safety. Gold/silver will not skyrocket (measured in fiat paper) until we've fallen well through the 2008 lows, done QE4.0 (with no benefits whatsoever), and people start looking around and saying "so what now?" and start investigating what is truly happening.
ask anyone on the street if they think america is a wealthy country......they will all say yes.
"Gold and silver will be taken down just like they were in 2008 along with everything else as the dollar skyrockets"
Bingo.
All real PM advocates know this, and are prepared to buy hand over fist,...just like in 2008.
stop,
You know the scariest, and the worst part of this is, the US Media has been reporting the Dollar, is NOT safe haven material anymore, and millions still flock to it.
It's a tossup, which is worst the pound, or the $,once the Reserve status is pulled folks had better be so far from the USD, their lost.
It's hard to break old habits, and few they be, that were alive when it became the GO TO paper.
In any kind of projected, hard times.
I think the drops earlier this week set things up - last market sell off saw gold move up. hmm.... well, I'm definitely not selling what may be the only currency left in a year...
INDEPENDENCE DAY SALE on GOLD! HAPPY HAPPY
I went long Gold yesterday at the at that time good price of about $1242; what should I do now? Hold on? I'm down about $60,000.
So you bought 1500 ounces or are you playing the financial suicide paper game?
15 COMEX contracts. What's "financial suicide paper game"?
You're playing it :(
Unless you're BOP's sockpuppet, you couldn't know BOP's description; but in any case, this site attracts many Gold Bugs who ignorantly and recklessly describe COMEX as a fraudulent gold market; these same idiots then direct other idiots to churn and burn bullion and coin dealers who mark up bullion by over $50 an ounce.
cognitis,
All I meant is that futures/options can be very risky as opposed to just holding the metal longer term. Margin got me a couple of years ago, so I understand how you feel. I'm sorry you got whacked. BTW, I do think the COMEX is fraudulent in many respects and today's waterfall move down was a classic example of that. Anyhow, good luck to you.
You are buying from the wrong places if you are paying $50 an oz, unless you are buying a coin of some sort. If you want a good delivery bar, they can be had from APMEX for next to no premium.
And no, anyone who has been in this game for any amount of time knows what he was talking about. Playing in the COMEX is like a reverse lottery ticket--if you number comes up, you lose your investment--all of it, because they WILL default, just like they have in the past. If you are absolutely CERTAIN that they are not a fraud, then you will get what you deserve. Your sneering dismissal of those with a lot more experience in these matters might just come back to bite you.
As one of those dastardly coin dealers described above, I can say you are generally correct. But premiums will vary according to the spot price. Today was not a good day for dealers to sell at last week's purchase prices. It's all relative. I've seen dealers sell gold they did not have at low premiums. Sorta like COMEX...
Hell YES, hold onto your Gold! It's scary, sure. But it's gonna pay off big if you can just sit tight!
And for once, there's not an ounce of sarcasm in my post.
I agree. The problem comes with defining "pay off big". For some it is making more of the fiat butt-wipe trading with more fiat butt-wipe. For others it means survival if the need arises. If it does not arise, all the better. It's a matter of perspective, n'est pas?
There is no question that over the next few years, eventually your position will make money. The hard part is what happens between now and hyperinflation. If it is QE2 from here, then you will see an immediate return. If not gold and silver could drop quite a bit until they start the hyper money printing. Personally I'm waiting for a decent drop before I load up again, but stand ready jump in big if I'm wrong and the hyperinflation starts now.
Only the Illuminati and insiders know the exact details of how this is going to unfold. All we can do is take our best guess and try to survive.
Wait for a technical bounce and then liquidate!
I hope you get your money back, but you bought on the retest of the wedge's bottom trendline, so I'm not sure it's going to get that high again soon.
I'm sorry that you lost money. Holding for long periods of time will be even worse though.
What are "technical bounce" and "wedge"? What if a fund dumps gold down $30 tonight? Wait again for "technical bounce"? Wouldn't I be better if I just got flat now rather than risk additional fund dumping? What if the "technical bounce" is less than the prior additional dumping? You don't trade real money, do you?
Cognitis if you are worried you can buy some slightly out of the money puts for insurance. But judging by your posts you DO NOT belong in the futures markets. You simply don't know enough. You obviously do not have a plan.
The thing for you to do is get out but when you can get out with the minimum loss, or possibly a profit, I do not know. It depends if gold goes up before your account blows out. The puts will give you staying power.
Suggest you get flat as soon as you can get out with a whole skin and don't get back in until you study and paper trade for a while. Start by reading anything by Van K Tharpe.
I apologize if this sounds harsh. Right now you need straight talk more than happy talk and this is as plain as I can make it.
The people who need to be in the futures markets are jewellers and electronics manufacturers, for example. Most others are speculators who have little understanding of what gold really is. Hope that's not too harsh.
I think this can be considered a 'tap out' by JB.
Oh tell us, tell us again how the USD was worth the same in 1985 as it is today Johnny...
Your TA on that point was so thorough.
Go on vacation. Party, enjoy yourself.
I went long Gold yesterday at the at that time good price of about $1242; what should I do now? Hold on? I'm down about $60,000.
Sure you did. And my name is Mickey Mouse.
No, you're name is Pee Wee Herman. Why dispute my facts on public forum? Public service for other readers? If I exposed my facts as hypothetical, should responses differ?
Is this your first message board experience sir? I would advise you to read "Message Boards for Dummies, how to detect liars, cheats, and outright frauds". Includes a special section on dealing with people stupid enough to ask for financial advice in a public forum. Available at your local bookstore.
Thank you for your time.
I see. So I should consult some idiot who wrote a book in order to scam other idiots like you in "detecting fraud" instead of requesting help gratis (free) in a chatroom. So you prefer to pay idiots for advice rather than receive it for free? Is that it? In any case respond to my post and don't just rant: whether or not I actually traded affects not at all responses or advice, does it?
WHOOSH
Hang in there. You will still thrive. The disappointment is in not having that cash to buy bargains. In a rigged market you just take the punches, knowing gold rules in the long run.
cog,
As she said,HOLD..............no way you lose, over the next 12-24 mos, I bet far less.
You close that position, you will kick you ass the rest of your life.
Did you buy physical gold, with no margin loan or other encumbrance? If so, hold. Otherwise, sell. Don't use margin with gold.
Kinda have to disagree here with TD and the comments.
So, your gonna have a major deflation and gold up simultaneously?
Jus how exactly do you do that?
I'd have to agree with you - deflation is gold's Kryptonite, about the only thing that could bring it down.
Shhhhhhh.........
This place is crawling with a bunch of wannabe Supermen who think that a few ounces of the stuff in the backyard will keep them safe while the world burns...
Deflation shatters everyone, even Gold-tards.
Gold is down 3% today & it's the best performing asset class in the past 10 years. You are right, it's stupid to be in gold.
Dipshit.
Wow! The best performing asset class in the last 10 years??? Sign me up---I'll take it all!!!
Just like I did when "tech stocks" where the best performing asset class in the last 10 years.
That worked out GREAT for me.
Dumb-ass.
Isn't time to get back to your JPMogran rat cubicle?
Right cause something of value (Gold) is comparible to a bunch of college grads going public with no assets. God your fucking stupid.
I hate to tell you, but "tech stocks" aren't an asset class.
Moron.
double post
I disagree. That's not necessarily true. Gold has been moving marginally higher despite deflation over the past few years.
As long as there's a retard to drive prices up, prices will be driven up. I know it SHOULD go down in deflation, but that doesn't mean it will!
retards like the governments of the world?
What is the low going to be and when will it get there? I have read the wave theory people saying it will go to $600.
"As long as there's a retard to drive prices up, prices will be driven up."
You mean a retard like central banks?
Central banks backstop the price of gold. If gold is taken lower by deflationary panic, central banks will buy more and more, supporting the price level and maintaining gold's relative increase in value (v. everything else).
Gold bears have an irrational faith in FRNs/fiat & "trading" markets, yet they fail to understand that the CBs are puposefully, openly debasing paper money (and paper assets) while buying gold in huge quantities.
Gold bears are actually betting against CBs and their massive physical gold accumulation & holdings. Good luck with that. Idiots.
Indeed. On this site, there is an unexplainable thought that gold is going to hurt the big heavy players.
So yes, good luck with that.
JB,
"As long as there's a retard to drive prices up, prices will be driven up."
Lot of retards out there huh?...........Soverigns, and CB's,those really dumb bastards..We all know their stupid as shit.
Isn't the relevant question *not* the dollar value of gold, but the purchasing power of gold. I.e., in a deflationary scenario, does gold gain purchasing power faster or slower than the dollar?
"... in a deflationary scenario, does gold gain purchasing power faster or slower than the dollar? "
Good question.
Ans. In 2008, no. In 201(x), very likely.
Regards
You have to pretend you invested for the long term benefits of quality and just sit and watch the turmoil. Gold and Silver will be the players left standing when some of us are using their stock certificates to warm the shack.
The Real Powers want as much of our Gold and Silver as they can scare us out of while this house of clowns crashes. When the paper is ash, PM will hold real value. More value than most of us are willing to visualize in this fresh peek at the scary times.
Why do you think Baron Rothschild just bought a major stake in BullionVault? He now owns another place where a lot of gold is being stored. And after the shareholders have all been paid off in fiat, the Vault will quietly close up shop with all its Gold intact.
Hold that Gold, fondle that Silver. It's going to be a bumpy ride, but if you think you were smart buying PMs before, keep confidence that it's still the right decision. It IS!
Buy gold when the economy's great. Sell when fear is the highest.
Don't buy insurance for your house after it has already burned down.
Buy gold again in the triple digits.
It's good to hear that you have an entry price. The down side is that you advocate buying paper gold. Therein lies the trip wire.
Dr. Sandi
You fall into a logical trap i.e. "You have to pretend you invested for the long term benefits of quality and just sit and watch the turmoil. Gold and Silver will be the players left standing when some of us are using their stock certificates to warm the shack.
... When the paper is ash, PM will hold real value. "
You have a blind spot.
Your entire statement argues for inflation.
No, no, no. Not inflation - currency crisis. You see the signs of crisis, but you do not yet see the ultimate form it will take.
Muir, you also have a blind spot. You seem to think that they only way to cause inflation is by increasing either the money supply or money velocity, it isn't.
All China has to do is stop exporting to the US and you will witness massive inflation.
Oh, no, I agree with you.
Or look at Iceland.
Or what would anyone have paid for a loaf of bread in Stalingrad in 1943?
Ehhhmmm, how does that make any sense? That's exactly what has to happen by definition and BTW, China didn't have to try, it just happened through collapsing aggregate demand.... and what do you know???
http://investmenttools.com/futures/bdi_baltic_dry_index.htm
"The Real Powers want as much of our Gold and Silver as they can scare us out of while this house of clowns crashes. When the paper is ash, PM will hold real value. More value than most of us are willing to visualize in this fresh peek at the scary times."
Why in the fuck would they want an antiquated metal that only through conditioning we're led to believe has any value what so ever. It's to fucken soft for any industrial application other than making your wife happy when you give her some thus getting you layed, other than that what fucking useful purpose does it serve. When the SHTF I'll know who the Goldbugs are as they will be the ones trying to figure out how to move their heavy haul of useless fucking metal. Fuck you'ed think we were in the FN middle ages.
Tell that to the computor , and modern weapons, industries...
You just enunciated what I've called the "tail theory of value" which is, how much tail will the goods in question buy you? explains diamonds, gold, PMs, and eventually food, shelter and clothing. and weed.
Deleted, deja vu style double post. Must slow down clicking finger!
Fat finger