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The Gold Wars: A Golden Renaissance, by Hinde Capital
h/t Konrad
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At least in this publication he doesn't seem to have claimed that gold has no utility!
Silver BITCHEZ!
Thai central banksters buying gold divesting US dollar.
http://blogs.ft.com/beyond-brics/2010/09/13/thailand-whos-buying-gold/
Thanks for the link. The Baht is rising.
Audit Fort Knox!
While Bernanke agreed to Ron Paul to allow an audit during Congressional questioning about a year ago, you can bet the Fed will use ALL their muscle to kill any bill or ability to have that done. Barney Frank may tout it, but when it comes to voting you KNOW Frank and his cronies will vote against an audit.
Done.
87 M1A2 tanks
63 Abrahms
189 trucks
7243 personnel waiting for their 8th deployment ot Iraq or Afstan
trying to audit Bundesbank by FOI request, no progress by now
Hinde looks like a real winner..... Got Gold?
good ppt but there is no gold in ft knox - sorry charley...
Up Up and Away.
How high is UP?
The chart on page 25 gives a clue. It shows total world currency at $60T and current gold valuation at $5T, for a 12:1 ratio. With gold currently priced at $1250, a fully-gold-backed world currency puts gold at $15,000 in current terms.
Worry not. Some know-nothing will post that there is not enough gold to back a currency. Count-down, 3...2...1.
There isn't enough gold to back a currency...at the current price.
Good guess. My calculations and reckoning fall between $16,000 and $160,000 per ounce, depending on how it is computed (and how extremely fraudulant the "official statistics" end up being).
However, estimates like this are virtually worthless, because when they become true, the dollar will be toilet-paper, and even $160,000 per ounce will be a ripoff. Which really is the point, isn't it? That ANY conversation from gold to dollars is a total rip-off of the gold-holder, since the dollars he receives are utterly worthless ($100 bills cost 0.3 cents to print, but aren't worth that much for any functional purpose).
Honestly, the only way to value gold is to make a list of the ~100 most useful/necessary common physical goods (in proportion to how much you need of each over a lifetime), and see how much gold you must trade to buy that basket of real physical goods. Then watch how that changes over time. To even discuss the relationship between gold and dollars is essentially meaningless and stupid, except to give a vague impression of how close the economy is to blowing apart at the seams.
Anyone who holds that the gold market is in a bubble, is looking at indicators that these charts and levels of broad spectrum participation otherwise suggest.
Gold will be in a bubble and I will sell my physical, when Jonny Bravo is seen standing in a queue outside of a bullion dealer, hoping beyond hope, to glean a fraction of an ounce in exchange for his FRNs.
This is not meant as a dis on JB. It's just that his (generic) actions and thoughts are a contrary indicator in relationship to mine.
Best of luck JB.
Trust me, I'm long the barbarous relic, but I have a bit of a hard time with the concept of an "undervalued" gold. If it really was under-valued currently, there would be tremendous physical demand that would take down any manipulation. A massive collective cornering of the market.
Do I think it will go up? Yes. How high? Dunno - high. Is it under-valued right here, right now? Nah. When the banks starting crumbling in the dominoes chain, well, yes under-valued. And no, you won't be able to buy it then.
It's fairly valued as a metal with some currency optionality.
Oh, and I'm watching to see if silver can break above $20 convincingly and hold. That might be a decent tell...
Silver finished over $20 yesterday and is up presently to $20.20. Gold has been holding over $1240 for most of Sept., was over $1200 for most of Aug., and is presently at $1250. I don't understand the bearishness with PMs when they are clearly strong.
Here is some reading for you:
Commodities Soar as Investment Banks Shutter Prop Desks
http://news.goldseek.com/GoldSeek/1284404310.php
Ultimately, Don Quixote will Triumph
http://www.chaostheorien.de/artikel/-/asset_publisher/haR1/content/ultim...
My goal is to buy silver. Then when the bubble pops and the dollar is worthless I will use my silver coins to buy porn stars for escort detail on my nights out in Vegas where clubs are begging for just one silver coin.
I may be perverse but it's only rational that I am self serving. Righteously so.
Millennial,
Sounds good - I'm long silver and gold, can I come with you?!
DavidC
I'm not sure you read my post. I'm long. I'm not bearish. I think the price will pop when we have some bank defaults.
But, right here, right now, I don't consider it dramatically "undervalued" - which is what the piece said.
I think gold will get re-valued higher when the banking crisis re-emerges. It will gap higher, and the paper PM markets will crack. I think there is huge upside for the PM's, but I don't hold them for "profit" but as a store of value.
Like I said, it's a currently fairly valued metal with currency optionality. That's my take.
Physical is for capital preservation, stocks are for profit.
Most level thought. It's right where it should be, unlike much else, behaving the way 70's stocks did, slow and ponderous.
Gold is tremendously unfairly valued.
As far as undervalued goes, yep, the current offer is pitiful.
If I were to exchange my retirement portfolio for FRNs (I'm 100% invested in PM physical), there is no way that the amount would cover my retirement needs for the next 30 years, despite yield. Before you jump on the wagon and bellow that I hadn't saves enough, the projections of my needs as a nominal amount, calculated 35 years ago by an investment advisor, were at the time of reckoning, valid and met. The amount was there but their purchasing power diminished. My savings in $s, measured purchasing power, have been devalued by 4/5ths, from the time of inception.
I abandoned that ship long ago and have been bobbing around in my own life raft ever since, all in.
10% my ass. For what, just to have the other 90% devalued over time through dilution?
QE2...... Bring it on.
AL, pay attention to the Dept of Labor hearings happening today and Wed. They wish to seize all 401ks and IRAs and convert to UST annuities. My bet is the IRAs linked to PMs the first to go. Just sayin.
Thanks for the heads up.
Message to all governments: Good luck with that you thieving fuckers!
You've had your share at the pay packet. What's left over is mine. You turds can start living within your means, just like the rest of us. You are not stealing from me three times, your first grab being from payroll tax, your second via inflation resulting in loss of purchasing power. And you're not taking it from me by blatant theft, let me give you the news. Fuck the lot of you thieving, socialist slime-balls (grudging apologies to socialists) and the horse you rode in on.
On second thoughts...... Fuck you socialists too.
You can't be the only one waking up to these realities.
I'm not the only one I'm sure, but it sure seems surreal to know what I know and see the sheeple grazing away on their soporific pasture. It's thrown my politics and belief systems out the window and has left me living in the twilight zone, in another dimension. Fucking rabbit holes!
Great use of the word "soporific". The rabbit holes are where I go for relaxation. On the surface of reality is stressful.
Feels like living two lives: One of private enlightenment, disgust and quiet preparation, the other of public ignorance, acting as if nothing is wrong, so as to not be a target when the final crash occurs.
Traderjoe,
Your bewilderment with the concept of "undervalued" gold, may be linked to your choice of numeraire. Is your numeraire for valuing gold FRNs, government guaranteed bonds, or what? Is your faith in FRNs linked to some inherent value, sound accounting and reporting of the economy, a transparent marked to market valuation of debt (like Greece practices) or maybe you can measure gold against bank stocks. Now there's a yardstick, particularly since the boyz have forced the regulators to change FASB requirements.
What is an frn really worth in gold? Can it be priced in gold by the issuer if it is not redeemable in gold? What's the point?
What are FRNs redeemable for? Using them as transaction vehicles at gunpoint still does not make them redeemable. Ipso facto, they are worthless. The last guy holding them, believing them to hold value, will in the end be just another starving billionaire.
Aside::: What a great name for a band or song title! The Starving Billionaires. How sad it's going to become.
Edit; looking on google for a pic on the Zimbabwean Starving Billionaire, I just saw a band on utube called the starving millionaires. Taking inflation into account, they should have their name revalued.
Ag 20.26, go you good thing.
Gold hit 1256.50 out of the gates and is inching close to 1000 euro again.
We'll see.
Usually, after an overnight run-up, you get the 8:00 EDT beatdown.
I just got a letter from customs for illegally importing gold from America to Belgium. It's a invitation to explain my case.
It's about a order of 20 1oz Buffalo coins.
I've been ordering them from everywhere (America, South Afrika, England, Tunisia, France and Holland) besides from my own country and only this shipment might cause a problem.
I don't think it's a tax problem because importing and exporting gold is taxfree.
Also, the same order also contains silver eagle's and there's no mentioning about those.
I wonder what that'll be.
Check the package when it arrives or you can secure it and check for any cancelled markings with the word "Kentucky" on it.
+1
I suppose, they tracked down the origination of row material and found out it belongs to somewhere, for example ... Fort Knox!
Gold from Fort Knox is remarkebly marked by central banksters pissing on it over many decades.
I presume you paid fair value for it......
Thanks for that.
Gold transfers have ocurred before at far less than fair value.
Up with fair markets and best wishes with the authorities!
It might be nothing to do with gold, more the value of the transaction and possible money laundering.
Tell them to produce a body or victim of some sort or fuck off.
You have to pay VAT on silver purchases in the EU, so I suspect this is what prompted the letter. One silver eagle is not really the issue, though, it is just a heads up. They will want to know if you have made any other silver purchases without paying tax.
This is a fascinating idea and very bullish for gold. This guy is also occasionally interviewed on King World News.
My 2010 Canadian Maples arrived yesterday and I think they're magical. Bitchez.
They are magical, in that, soon they will be the only way (exc. silver) for you to obtain Canadian (or Vermont) (same thing?) Maple Syrup.
For a detailed understanding of just why gold is undervalued, and where it is likely going, FOFOA blog is the best source on the web.
For an interesting take on silver, try Road to Roota. Don't know if I believe it yet, but it does make one ponder.
How can gold be undervalued against any piece of paper regardless of what is printed on the paper?
Paper depends on the people's continuing faith in it.
All paper assets are...well, simply paper.
The experiment with paper currencies has occured many times in the past and each time has resulted in a failure. If the 'Barbarous Relic' really had no value then the central banks would not continue to hold it. The CBs have gone from a policy of selling a yearly allotment of gold into the markets to a new policy of gold accumulation. That new CB policy should be a wake up call to everyone in the world...unfortunately the US has a short history compared to China, India, etc, so we have not experienced successive fiat currency collapses. Just because something has not happened does not mean something is not going to happen or is impossible.
No give me more paper with a promise from Obama that he will do what is right for me. Oh yes I believe in paper money cause I'm an American I believe in whatever my government says cause they only want to help me! Say it again....
Yes, we can bitches!
http://harveyorgan.blogspot.com/
tip of the hat to ZH included...
Just for fun an "walking around money" don't forget some of the mining shares.
EGO is particularly attractive. I own quite a bit of Jim Sinclair's TRE. RBY is still a potential takeout candidate. And, of course, GG, ABX and GOLD.
Gold futures up $15 overnight. We're close to a new high!
German ZEW has hurt the Euro, perhaps throwns some cold water on bullishness, at least in Europe.
No, Gold futures mustn't go up!! I'm waiting to buy!!!
Gold at $1260.60...What happened to Johnny Know It All Bravo and his gold crash prediction?
LOL
He wants respect but does not realize that respect is earned...it cannot be granted.
He'll be in here soon talking about how Gold is about to crash back to 1275.
He is supposed to be gone forever. At least that is what he promised. There were some dollar amounts associated with his promises but I forget. What? I have to live and die on what the dimwit says? I could go back and look at the details -- but I don't care. If he shows up again there are a few here who will go ballistic. Me? I could care less. Enough of the canned ham bithez crap. Just reporting what I recall from his past comments.
Thank u, i found this for a long time.
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Thank
Thank u, i found this for a long time.
cheap site hosting | windows web hosting | windows vps hosting | ucvhost