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Both gold and silver are trading as CURRENCIES!
so they're currently currencies?
They alsways have been currencies, for a hell of allot longer then any other currency.
No! People are trading them AS currencies. It does not matter what the fiat-loving and corrupt governments want, it is what people WILL do. The movement has begun and it starts with treating gold/silver AS currencies in one's financial plans. This is only going to grow as the fiat world dies.
No, Gold and silver are currency.
If I want to leave Canada with $10,000 or more, I must declare it. The legal tender value of a Maple Leaf coin is $50 dollars. So if the metallic value of gold was not a currency then I should be able to take out 200 coins right ? $10,000 divided by $50 equals 200.
Well guess what ? The government goes by the mettalic value of the coin, not the legal tender value.(because gold is a currency) The mettalic value of a coin is about $1310 so $10,000 divided by $1310 is 7.
If gold was not a currency I could take 200 coins out of the country without declaring it but since gold IS a currency I can only take out 7 coins.
We'll make an exception for you.
You can leave at any time now.
I knew a couple of ladies that decided to drive up to go drinking with one of the canadian ladies. They bought some kind of potting soil there and got busted with it at the border.
But no worries. We're still going to steal your maple tree growing soil one way or another.
No you won't, you'll get knocked out cold by our stronger beer!
What is it with you yanks and pot? It seems like someone caught with a bit of pot in the US gets treated worse than a pedophile. Just chill.
bigdumbnugly, are you an American? No disrespect meant by asking, just that in MANY parts of the world they KNOW gold is money. It is used in trade, transactions, etc in various marketplaces. From Vietnam to Switzerland... and China.. plus India of course.
just a play on words, MT
Ahh ok. Makes sense (of course). Thanks for the clarification.
The Dollar looks good.
The dollar looks like hell.
And no, the dollar is not stong because it is the best of the worst currencies, it has only been strong because it WAS backed by gold.
OT, but pertaining to your name...
a buddy has a boat by the name of "My Dixie Wrecked"
i thought you were the "schoolslut." sorry about that. "been dazed and confused for long it's so true."
we should also start a countdown on when Bloomberg is going to start covering what is actually happening at the Comex....
I would bet you that they will give the masses no clue whatsoever until the Comex lies in a steaming pile of rubble....
and Ben shells out another 50B or so to JPM to make up for its "losses"......
DXY 79.85 and dropping like rock. Is this the day the dollar died?
Don't be the last to hold treasuries.
"Gold climbed to a record in London and New York after the Federal Reserve said it was willing to ease monetary policy further to boost the U.S. economy, triggering a slump in the dollar"
And this willingness was a surprise to exactly whom? What the fuck is wrong with people?
They are SLOWLY waking up. Probably too late, though....
Those I've tried to educate are starting to think there's a valid point. "Gee, maybe he's not so crazy."
That always feels good.
It feels good to be crazy when everyone else is stupid.
sometimes. but as pinoche said she "likes zombies."
I'd like to thank the members of the Academy...
what? no sarcastic gold bug comments yet
Personally, I don't want to jinx anything for PM's...
You see, I remember way back in the olden times when you could get Silver for 17.80 rather than 21.10. Oh wait, that was just 3 weeks ago. My bad.
why have just one?
95% bears and counting on /DX. Looking to get long at 79.50. The thing is a piece of dung, but hey, profit is profit (i hope)
79.61 ...your in the zone
benny how you going to hold gold ,down??how ?? this breakout is getting very scary, and is building momo.
fiat dreams burning , benny what's you got??
burn the house down?? raise rates stat?
benny is indisposed this AM. Timmy ?anyone seen Timmy??
Benny could sell some of the US gold (not audited in over 50 years but claimed to be over 8,100 tons) into the market to supress gold price.
Many times the actions are not taken give more insight into what is really going on.
that's not a freudian slip inre what Benny deserves is it?
yeah, but the world may not want to buy gold-plated tungsten bars from Bennie. The US financial sector's reputation has become famous for scams anymore. Or is that infamous?
sell high, buy low. hmmm. that would require a talent for trading. last i checked Cramer wasn't head of Fed. Nice thought, though.
Gold at big discount in euro,
start buying now you eurogold bitchez.
Think this will be last time to buy around 1000euro one ounce.
“The gold market has apparently been cheered by developments over the last 24 hours..."
It's not a cheerful moment, it's sad. Investing in Gold is like buying fire insurance and then your house burns down. I'd rather have my old house back. I'd rather live in a sane world.
I understand the sentiment, but you have to realize it's just that. Money and economics aren't so sentimental. They just exist in the context of the world. Given that the world won't stop and time always marches on gold is actually part of the sane world. Happy trails.
I'll second that.
I doubt anyone here, except the anarchists, is truly happy that our world is burning down around us. Fiat money and Keynesianism have failed. The coming years are not going to be fun.
I'm not happy that people have to suffer, but like a drug addict coming off drugs, PAIN is part of the healing process.
Just think... after this is all over, they will rewrite the history of this episode and blame gold and silver and then they will commence rebuilding a New Global Fiat currency to protect the world citizens. They will do it all over again, and again, and again until we (the raped masses) revolt and execute judgement upon the Banks and drug addicted politicians.
How many Central Banks has the USA had in it's SHORT history? THREE. As soon as is possible there will be the New Federal Reserve System II - the Fourth Central Bank of USA.
Exactly. Everything old is new again.
I consider myself to be an anarcho-capitalist. I am far from happy that the world is collapsing around our ears. I'm just sad that it had to come to this. It's sort of like watching a loved one die slowly from congestive heart failure. When the end comes, you are glad of it, because continuing was pure torture.
Though I long for a stateless society, one which has a government that consumes around 2% of GDP is certainly good enough. We had that in this country for about 150 years, absent wartime.
we are at war.
You would? I'd rather see the destruction of debt; which is paper fiat "money".
There is nothing "sad" about transitioning back to sound money.
It is also not just insurance, it is a store of value.
Agreed, and if you are an optimist (as I am) and see the possible outcome of all this eventually resulting in sound money, well then that is a day when I will no longer have to put up with central bankers cornholing me on a daily basis, stealing what is mine through printing and devaluation.
Fire is scary, but perhaps this fire will clear some dead wood and result in a healthier forest.
lookin' like a "Wildfire" more and more everyday I must say. And if this is a natural occurence as I certainly think the business cycle is trying to "prevent the fire" as governments preternaturally do only makes the reality of "the One" that much worse.
The sadness is in the human suffering that results from the transition.
Perhaps you are in a position that will be minimally affected while I, along with a number of others will face numerous unknown and unpleasant realities
I wish you nothing but the best grunion, and I sincerely hope that the "unpleasant realities" we all will face (and I am right there with you) will be less harsh than the worst scenarios we might envision. I guess my take is, whatever will happen is way beyond anything I might do about it- we are basically passengers on this ride - so I might as well prepare for the worst and hope for the best. Optimistically, I hope the assholes who brought this about will be utterly discredited along with their philosophy, such that sound money is established so they can't do it again.
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