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Panic Buying Of Physical Gold In Europe Threatens Depletion Of Austrian Mint
When global governments refuse to act responsibly toward their currency, the people will create their own currency. Welcome gold.
( NAW ) 05/12 08:57AM AUSTRIAN MINT SAYS SOLD 243,500 OZ GOLD IN COINS AND BARS IN LAST 2 WEEKS, MORE THAN IN ENTIRE Q1
( NAW ) 05/12 08:58AM AUSTRIAN MINT SAYS GOLD ORDERS COMING ENTIRELY FROM EUROPE IN LAST FEW WEEKS, SIGNS OF "PANIC BUYS"
h/t Joel
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Aerojet,
You got me, I turned 50 6 months ago - which is why I have children 19 and 16. Are you suggesting that I "*want* a collapse" for them? Hardly.
But thanks a lot for the intellectual reply!
When fiat dies, barter will reign.
Coffee, sugar, meds, needles, cigs, bandages, water, diesel, gold, silver... it's ALL currency, a medium of exchange. In a barter economy, gold and silver will not be involved in every transaction, but gold and silver WILL set the standard of exchange against which all other commodities will be valued. If you can't see or find the logic here, then nobody can help you...
The system will decentralize and trade will be much more local. C.O.D. or G.O.D.(wow, did I just stumble upon something?) or bartering. A means of exchange will develop. Lather, rinse, repeat cycle starts anew over hundreds/thousands of years.
"Only the poor, who don't have gold, will starve."
Only the poor, who don't have guns or gold, will starve. The poor with guns will take from the rich people doing fine, so it goes.
YOu will still have less and less production chasing the same or more gold. You ran out of gold centuries ago.
People had plenty of gold 70 years ago, heck you could have double the gold supply, wouldn't have mattered. When demand is no longer being pulled forward exponentially production comes to a stand-still, go see every depression in history.
Mako, you are nuts.
BTW, where were you yesterday when Cheeky posted the gold/hamburger ratio?
Yep, I am nuts, that what they told people like me 70 years ago before the last liquidation, and 60 years before that before the liquidation before that, and 60 years before that before that liquidation.
Been going on for 1000s of years, yep, I am nuts because I can do basic Math.
Your needle is stuck in the groove. Get help 'before the tanks roll'.
I don't need help... I am not the one telling lies. People been telling me lies my whole life, I listened to the crap for years and believing it. Until one day I sat down with a piece a paper and did the simple Math myself. Unsustainable.
You can keep on marching with the lemmings to the cliff all you want, don't try and get me back in your failed scheme.
You don't even need pen and paper Mako, not that I'm discouraging it.
Yeast on a petri dish. Exponential growth.
Are Humans Smarter Than Yeast?
http://www.youtube.com/watch?v=hM1x4RljmnE
OVERSHOOT AND COLLAPSE
Populations in closed systems typically reflect a sigma curve, not necessarily collapse. It is usually thought that human population will do the same, plateauing rather than collapsing.
But what's really interesting is to consider the growth rate in a sigma (s) curve. It is more or less zero for like a hundred thousand years, then violently spikes for maybe ten generations, then goes back to zero for another hundred thousand years (or whatever).
We live in the evolutionarily unique time of the growth spike. No humans ever experienced this before...and none ever will again. Furthermore, there is no reason to suppose that life on the early side of the growth spurt (resource abundance, sparse population) in any way resembles life after.
And we wonder why things seem unhinged...there is no way we are adapted for the growth spurt or for life after it (whether collapse or high plateau). Nothing in past human experience has selected for these very special times. We have to use our flexibility, our intelligence, and our ability to either compete or cooperate depending on the situation. That is our heritage. But it's not at all surprising that these times seem different; they are profoundly different.
I got most of this insight from 'World Population and Human Values' by Salk and Salk. Find a copy if you can....long out of print....
Good insight. Thanks, for the book tip I'll add it to my reading list.
Evolution or extinction are the only choices we have before us as a species. That's always been true, but we are at a critical juncture; imo.
Mako,
First of all, let's talk about debt. While leverage works well when things are going up, it obviously magnifies problems when things are going poorly. In some sense, assets are contingent, but debt is forever. Here in America, total debt compared to GDP now stands at around 280% to 300%. (By definition, these numbers are estimates, since it's impossible to arrive at a precise figure, but the latter is not needed in order to get the gist of what's going on.)
This is the highest debt-to-GDP ratio that the country has ever seen. By my calculations, as we exited 1929, debt-to-GDP was about 200%, though it did rise pretty dramatically while we were in the Depression, to about 300%. But by 1950 or so, the debt-to-GDP ratio came in at about 150%. It rose to some 220% in 1990. So obviously, our current ratio of total debt outstanding to GDP is the highest it's ever been (the Depression excepted).
There is nothing new going on, you just have a clue now... but you having a clue... dont change a fucking thing, except your stress level. Congrats on being awake but please don't let your ego get in the way of reality.
Be well Mako, JW
That's it, I'm going long tanks!!!
I gotta say Mako, it's always good when you jump in, otherwise the collective euphoria might just grow to a point where it will give somebody a little hope.
Why do you have a problem with hoping for the best WHILE preparing for the worst?
If I was as certain as you that I am destined to be crushed by a tank, I certainly wouldn't spend much time here screaming about how fucked we all are. I'd be snorting coke out of the crack of a hooker's ass while taking pot shots at neighbor's who have pissed me off over the years.
SOOoo, since your answer to everything is that there is nothing we can do; What exactly is it you recommend?
I can't speak for Mako, but based on the teachings of great men, and my own experiential knowledge I would advise you to....
Just be. Let it be.
If that answer is not enough for YOU, then...
Treat people the way you want to be treated.
Seek enlightenment and equanimity. Seek to see the ultimate and infinite while blinded by the relative.
Realize that relative life is not and cannot be accumulation and growth ad infinitum, it is only and has always been only survival and stasis in cycle. Beyond survival, and being, all is illusory. Possession is impossible and futile over time, let it come and let it go. Time is the destroyer of all, and it itself is an illusion.
Realize there is no control. The cause and effects that brought you here, steer your life, and take you out of this world were set into motion before you were ever concious.
Most importantly, let go, let go more, and let go harder. You are not mind, body, emotion, wealth, thought....
Who are you really? Who is this we you speak of? Who is that voice inside your head?
Namaste.
The kingdom of GOD is within you.
Luke 17:20
CrabCake is correct.
Relax. Center. Ground.
Breathe.
Only when the mind is still is it possible to perceive the choices available in the present moment.
That said, as a parent I take up the mantle of responsability-for-another each and every day and so make every effort to make choices to protect those whose existence in the physical plane I made possible. Ultimate equanimity will not be mine, this time around.
To both you and Crabcake, I agree. I live every day accepting that it may be my last, and my only fear/regret are the things I haven't yet taught my children. However, accepting karma and existing in in a state of perpetual doom are two different things. I am unafraid of death, but PLAN to survive. Is that not nature?
dlt
my gold is not in my pocket but you can put your hand in my pocket to check !!!!!!!!
I guess suicide is the only answer then.
I would say having some food storage, a firearm for self-defense, a water filter, and not being where the tanks are, is the answer.
you forgot, like many hermits here always do, to include friends and family on your list.
I wonder if that is the hardest asset of all to retain from the looks of this group.
Seriously. I figure it will be a little last minute pleading. If they're not convinced (as in they don't immediately go and purchase their own food for the next year), fuck 'em. New dawn tomorrow - I didn't get to pick my family members anyway. Only a few of them actually read the emails I send, detailing "The horror, the horror."
It's the only way I know how to be - took the red pill. If they're verbally fighting and slapping back while all this information is available in real time, how long is their "gratefulness" going to last when things go the way history has always taken ignorant, self-righteous humans?
Eh, but it's that "I'll show you!!" trap, ain't it. At least I got PMs, and they are going up in value!!! And no matter what I know I won't be crying in the dark; cold and hungry; wondering what the hell happened; why the gov't hasn't saved me yet.
What a pitiful way to die. I'd rather go stand in front of Mako's tanks.
I've been trying for two years to get my family to listen. Not trying to get them to pitch in $$ for my "bunker" or anything, just to at least check out some alternative news sources. No dice. So yeah..... Fuck 'em. Problem is, I don't really think I'll have the stones to say that when I have seven hungry nieces and nephews standing on my doorstep. But, how do you take food out of your own child's mouth to put it in another's? The mere thought of having to make that kind of choice makes me want to throw myself in front of one of Mako's tanks. I'm more pissed at the sheeple for putting me/us in that position, than I am at the people who rape us daily.
I only plan to assist those that are actually "dear to me" when things start to really crumble. They are the ones I could die with; get my ticket punched and feel like it was a good run. I'd rather expire with a few others than sit in the woods somewhere. The best solution for the emotionally "uninvited", stranger or not, is to have a little charity. A small quantity of food. Maybe a blanket. Whatever you can give "until it hurts". And then you explain in very clear terms that they will be shot if they return.
This won't work if you are in the city. But, of course, trying to survive in the city is suicide. Go ahead, eat concrete.
Good luck, CC.
"I'd rather expire with a few others than than sit in the woods somewhere."
Fortunately for me, I live in the woods, so it isn't really a stretch.
You are going to have to figure out how to stock up supplies for them too. No other way around it. equalize things by making em work for it
this is more to the point.. when one reads history you can go back to starting points but usually ending points aren't reported very accurately. All starting points are around waterways and fertile land or hunting grounds. Doing any of this alone never works out..
that is one of the main reasons churches, love em or hate em, are the forces of organization of societies. And sadly, religion is one of the cheaper ways to get a bunch of people to fight for one cause... even the pagans grouped around their beliefs.
So if you aren't much for family bonds.. and probably not religion either.. then all I can say is , pack light and stay mobile..just like those like that have done well for themselves in the past.
Our brains turned out to be wired for cooperation, not so much competition.
Done both, and the older I get, the more I accept and like the cooperation wiring...
because the older we get, the more help we need.
LOL! yes, that would explain it! LOL
You are correct. I know in my heart that I couldn't turn away family, so the redundancy of prepping ensues..... Still pisses me off though. And believe me.... They'll work for it.
LOL, they will work for it! You betcha! Make em stack hay!
http://www.associatedcontent.com/article/203004/paradise_valley_all_natural_creamy.html
I have 64 gallons of these things. Individually packaged, feeds 4, almost. Can't tell from real potatoes, and they last for years. I purchased mine from costco, but costco no longer carries them. don't know a good place to get em anymore, so you will have to search. but this is a good place to start. I have also stored white rice in garbage cans and after 5 years, it is still good. Some posters here have had rice go bad though. I lined my galvanized cans with aluminum foil first, and wrapped over the top of the garbage can and down, this stops bugs from getting in.
Long before I felt I had extra money to buy PM, I was investing heavily in Mylar and o2 absorbers. White rice will keep longer than brown, although you sacrifice some nutritional value. I have several thousand servings of it packaged in 1 gallon mylar packs. Also several thousand servings of "Potato Buds", and a couple of hundred pounds of wheat berries. Without getting into "storage" we generally have a years worth of food in the house. A half a beef, a pig, and a few deer in the freezers, along with a large garden's output,,,, we'll get by.
I just think the old fable would have been better if the ant had blown the fucking grasshopper's head off with an AR, and then ate him.
Excellent. my rice is 5 years old and is still good. I keep it in an insulated (roof) barn.
no magic that I know of
White rice that is stored properly can last 15-20 years if not more. Brown, cut it in half. Dried potatoes and dried milk can be stored for upwards of thirty years.
Most that are invited to my retreat cabin are young, strong, hardworking relitives but I also have a useless older sister and my wife's 300lb+ step dad that I will have to have food for. What can you do? I don't think ether one would last long in a shtf situation so the drain will be short.
Look at it this way, when the food runs out, three hundred pounds goes a long way!
Just spend the extra grands and have enough food for all your family. You will need them to set up and run Bartertown.
+1
Can't keep my eyes open 24/7. Dogs are good for that but they don't like to play boardgames.
Once was a chicken that could play checkers though. Saw a picture of a dog playing poker once...
mako, ever hear of hawking radiation & blazar jets?
http://en.wikipedia.org/wiki/Hawking_radiation
http://www.isgtw.org/?pid=1002385
translation: matter & energy has been observed to eject out of black holes faster than when it was sucked in.
listen dumbo, come to a country like greece, where the banks almost shut down two weeks ago and we almost got kicked out of the euro and then tell me that "gold isnt going to save you" I wouldnt want to be stuck with worthless drachmas if that happened and im not too keen on devalued euros either. The system may still exist but at what price to the currency?
gold wont save you? just ask how soros got out of occupied hungary..what was paid to get him out?
Oh, and gold didnt save these people either...
OK and if gold wont save me, at least it helps me sleep at night. Sweet dreams
Temporary relief. When the tanks start rolling and the riots start actually being riots, you will see.
I mean, you know there was people starving to death last time with gold right? Eventually you will have the same amount of gold chasing few and few produced goods, if not there would be no such things as depressions.
Gold is not going to save the way you presently live, nor is it going to save the system, it's going to collapse and holding up a gold coin will probably just get your shot that much quicker.
I'll lend you my gun and a single bullet then. If there is no way to survive, why not kill yourself now and save the tank commanders the trouble?
The fact is that the tanks WON'T ROLL because the government has NO GOLD with which to pay for OIL. Without oil, the whole military industrial complex falls apart. It's not like they would stand a chance against the second most heavily armed populace in the world anyways (the Swiss being on top there). You think the green zone in Bagdad is dangerous? Wait until you see what happens to them when they set up camps in America. Iraq lost most of its intellectuals during Saddam's rule. The US still has lots of smart people who can and will come up with very clever ways to kill or neutralize internal threats.
That is all moot anyways, because no-one in America has gold. We're all desperately poor people living on credit. The vast majority of the gold owned by US citizens is stored abroad.
"The fact is that the tanks WON'T ROLL because the government has NO GOLD with which to pay for OIL"
What are you talking about, there is magnitudes more gold around today then there was in the 1940s and they didn't have any trouble filling up the bombers and tanks back then If there is no fuel, they use wagon or horses or their feet.
You have read way too many stupid books probably lined up on your bookshelf is stupid Peter Schiff books... his decoupling myth was correct, Europe decoupled and is falling into the Med.
The liquidation of the non-performing liabilities can be done by governments, pirates, mercs, or between themselves or just through starvation. Either way someone is going to have to go.
Most of the time war is used to get to the bottom quicker, ie Hilter last time... this time it will be billions.
lol, magnitudes more gold, huh? WHERE is this gold, exactly? Sure, GLD might have some, and the bullion banks, but the people don't have enough in their possession to warrant confiscation.
more lol, sure you can load a bomber manually, but you sure can't FLY one without oil. If you have a tank without diesel, you've got nothing but an immobile cannon that can't be aimed.
So without oil, all they have are ground troops. They have somewhat better weapons than the average Joe, but the average Joe outnumbers them 500 to 1.
But seriously, give a VIABLE alternative to gold, or kill yourself.
US tanks run on kerosene, not diesel.
Wait, you've confused me.
I thought that you said that when the system collapses, production will stop. Where will the tank drivers getr their fuel, ammo and spares? In WWII, the system didn't collapse so of course there was still a system in place to fuel the bombers.
So now you're saying that the government will use GOLD after the system collapses to roll over us and take our GOLD so we shouldn't be holding GOLD?
No need to kill yourself tmosley, e^-x never hits zero !
The American gulag system is already in place; ready to go.
It is called an office building, we have lots of em in NYC.
That doesn't apply to the USA. America will get its oil for its tanks, whether it bothers to pay for it or not.
Think again. China will move into the middle east the second America shows weakness. China has more than enough nukes to destroy the world.
In the end, money is what makes the world go round.
So, you are telling us that it is better to not have gold (which someone will apparently shoot you for in your hypothetical situation...which shows somebody out there wants it) and twiddle your thumbs as opposed to having some gold (again, which someone is willing to kill for), waiting to possibly trade it for whatever whilst twiddling your thumbs?
What is your solution? Buy food and crawl in a cave for 10 years?
Harry Browne was writing about all this 40 years ago..
Of course they didn't have fema camps back then...
You're fighting a straw man.
Gold won't save you? No shit! No one's claiming that as the entire world collapses, having a few shiny coins will stave off starvation, keep the zombies at bay, put potable water within reach, fight back government forces, and help to rebuild some semblance of a functioning economy. It's not a cure-all. Neither is owning a firearm, ammunition, water filter, dried food stuffs, and so on and so forth. But, in aggregate, those things at least give you a fighting chance to come out on the other side.
Got some wealth? Wanna preserve it? Get some gold. Don't want to die of hunger? Get some food. Want to drink? Have a water filter. Want to be able to defend all of the above? Get a couple handguns, long rifles, and shotguns, and a shit-ton of ammo.
Or just give up. From the way you talk I'm surprised you haven't already hung yourself.
Humanity's ability to think, plan, cooperate and trust will either save some of us or it won't.
In a serious 're-founding' situation it won't be gold guns or grain...it will be God, and or Goodness that allows groups to forge bonds of fellowship, strong enough to die for.
Greek civilization, Calvinism, the Founding Fathers...if they were despondant pessimists nothing would have been built.
The people on this blog have the tools if they have the character. It isn't enough but without it there's no point in speculating about 'post-collapse' planning.
I agree. Thanks for that comment. The non-tangibles you mentioned are just as important.
I'm wondering if he doesn't have a problem with Natural Selection -- memes, social orders, communities, priorities -- all fighting each other in real time for resources -- physical, mental, & spirtual.
It's much calmer on the other side of the dark night of the soul.
I'm with you, Chump. We do the best we can to prepare for what we cannot prevent, and then hope that it is enough.
what should i buy ?????? tech stocks ???????????????? you go first !!!!!!!!!!!!!!
Thanks, So--Crates!
Mako: I think you're a bright guy, and you obviously see what we all see coming. But dude, you have nothing at all positive to say. You're giving up. After reading your posts, I feel like asking if I should off myself today, or give it another 24 hours.
Please, for the love of all ZH readers, go get some action! You're in more dire need of a blowjob than any man alive.
He who panics first, panics best.
Rule #1 Don't Panic.
Rule #2 If you do panic...be the first to panic.
great rules. much better than tired old line about not losing money, and rule number two, don't lose money. like yours much better
+100
Something to live by! :)
Key term "Panic Buying". Sounds like a great time to be investing in gold. This is the very definition of a mania.
And so it begins...
Wait, creating imaginary money and using it against legitimate market participants makes them quit the game? THIS IS MADNESS!g
Anyone notice how quiet that douchebag at Market Ticker is about gold/silver? All of the people that the self-centered know-it-all verbally abused and removed from access have been vindicated.
I was removed for daring to question/rebut one of his claims about gold.
Silence...
I was removed from his forum, he was wrong, I was right. The system will collapse and I told him how it would go down. He started removing threads then he would lie and say he wasn't removing threads.
The system has not collapsed, so you have not been vindicated. This is simply a consolidation phase for us. Each one of these "swap lines" from the fed joins us a little closer together. Soon, we will all have a single monetary unit and a single government. Welcome to the new world order.
Paper *trolls* are out today.
They all collapse... pure Math. Unless there truly is a Wizard of Oz that has infinite power it will collapse. They all do.
"The Architect - The matrix is older than you know. I prefer counting from the emergence of one integral anomaly to the emergence of the next, in which case this is the sixth version."
"Each one of these "swap lines" from the fed joins us a little closer together."
Another lie from the powers wanting to sustain the unsustainable. Not only will you not be getting closer together in time you will be fighting, and fights within the bigger fights this time. People will be hacking away at each other by the time this is all done.
only a little sarcasm in my previous post. That is what the fed is thinking right now.
Thank G.H.W.Bush for that !!!!!!!!!!
He's got a huge blind spot (teabag stuff, science, politics) but some of his blogrant has good information.
His theory on just write down the bad debt works until the credit system peaks, there is no safe, the system will collapse.
You can write down debt, you can play pretend, you can pray to God, etc. it doesn't matter what you do the system will collapse. Been going on like this for 1000s of years, he tried to push his nonsense off on me.
The lie is the same lie that has been around for 1000s of years, nothing has changed. He can rant and rave all he wants, it will collapse.
The Truth is simple ---- IT'S OVER. It was over before any of us were born, once you take this path it is only a matter of WHEN, not IF. His rants to the government or about the government are just funny as hell, there is nothing they can do unless they are God or God-like or even more power then God.
Speaking of Douchinger, did anyone see this post where Douchinger thinks that everyone who searched for "market ticker" on the day of the crash was trying to find his blog? What a self-obsessed dumbass.
He use to crack me up with his crying, "call your Congressman". I laugh my butt off everytime I see that. Like your Congressman can change Math, this has been entertainment for the ages.
Sit back and watch the nutbags blame each other, point fingers at each other, hack at each other, etc. The fireworks are going to be wonderful this time, not going to be just a European and Asian firework display this time.
My favorite part of this morning's post (The Perversity of Bank-Driven Policy Response) is where he states that there are fewer than 5.65E-73 molecules in the known universe.
Expect an endless supply of "gold expensive" and "gold ETF's are great" bleating from the corporate media.
This will be very difficult to hide from the sheeple
The path of the righteous man is beset on all sides with the iniquities of the selfish and the tyranny of evil men. Blessed is he who in the name of charity and good will shepherds the weak through the valley of darkness, for he is truly his brother's keeper and the finder of lost children. And I will strike down upon those with great vengeance and with furious anger those who attempt to poison and destroy my brothers. And you will know that my name is Gold when I lay my vengeance upon thee
Or, as J.R. "Bob" Dobbs would say: "f*** them if they can't take a joke".
I like 'Bob' version better than yours. Just sayin'
Your supposed to put Ez 25:17 after that or you'll get that prophet suing you for plagiarism.
Samuel Jackson - "Why is it called a Royal with Cheese".
Brad - "Because of the metric system".
Samuel Jackson - "Check out the brain on brad".
it's "check out the big brain on brett"
Take it easy with the OCD Brett.
Wait until peeps show up at the crimex looking to take physical delievery of there bullion..That should be interesting considering they only have 1 ounce physical for every 100 ounces on paper....
Color me crazy but I believe the only players big enough to kill paper gold are the ones with the most incentive to NOT let the system collapse (ie bankers, mega hedges and SWFs).
Thus until we come to a point where guns are pointed and missles primed we may not see a crash in paper gold.
You maybe right sir..Just an observation..Maybe the Eric Sprotts of the world think they can knock it on out seeing that it may be on the ropes..In which would benefit him greatly with chaos and a price explosion.I think he said he was 70%au and 30% ag..And the imf said they were going to sell to him and then back out at the last minute on 216 tons..They dont have it, thats why..
Just a obvious point here...
if you think all Fiat money is going to collapse.. thus probably throwing the world back into the dark ages for a bit..
why stock up on gold?
seems, canned food, water, and essentials would be much more valuable if such a thing happens.
The people in gold or silver already have that stuff lined up..Pm's was 4th on my list of things to get done before this mother burns...............
+1000. Now that I have the "tangibles" somewhat under control, PM's are still part of a three legged stool of aquisition. (Household, Garage, and PM's) The list of items that come before PM's is endless. I can get by on very little, and consider myself pretty high up there on the self suffiency list, but every week, the first "extra" purchase is two giant paks of toilet paper which get tossed up into the attic. Charmin Bitchez!!!
It comes in handy for countries that have none and want to establish some sort of currency. I'm the next Rothschildt here.
Bartering with the big boys. ;)
I don't see why it has to be cast as a binary... "all fiat money will collapse" versus "CBs will keep paper asset values indefinitely high."
The French solved this 250 years ago with assignats. Weimar did it with blocked marks.
You'll just get a two-tiered currency system... regular old $USD for international settlement, nonconvertible Bernanke Bux (conveniently backed by all the mortgage paper we own) subject to capital controls. It's been the solution of tyrants for hundreds of years now.
Yes do stock up on those using your FRNs but you will need gold/silver for anything that you missed or run out of. Also I'm thinking there will be those that need some palms greased(i.e local "authorities" that may have bigger/more guns then you).
Because the 'dark ages' are not coming back. Or, at the very least, not right now.
Take a look at http://ferfal.blogspot.com - that is the best approximation of what's going to happen to rich countries.
Executive summary: deflation and/or monetary devaluation is a b***.
Because people are speculating on gold. They are going to go cash when they time it sound.
Gold as a currency is not different.
As a speculative asset, the ten last years are proving to be excellent. Will go on.
Don't forget guns. You'll need them to defend your gold.
Unless it becomes illegal to own gold. In which case you give up your gold and your guns or become a felon, in which case they take your gold and your guns.
take our guns and gold...it will be at the most expensive price.
just like weed,coke,crack,H,xtc !!!!!!!!! cops got that stuff off the streets didn't they !!!!!!!!!!!!!! If owning gold makes me a felon call me Richard Nixon !!!!!!!!!!!!!!!
You assume they ever wanted it off the streets. I don't think the CIA will be operating an Air America to import gold.
Even though fiat money will collapse, we still have SOME capital in this country, especially in agriculture. People who own gold will be able to take command of that capital (not to mention importing new capital from abroad) and begin rebuilding.
Currency collapse is not the end of the world. It is a nasty process, but it does not go on forever. Many social institutions will fail, but the people will still be here. People can still produce things in the absence of paper money.
GIT IN MAH VAULT
i wonder if work will get me a third monitor to watch the gold price....? =)
I have a 37 inch graph loaded on top.
i'm not a trader, but the one thing i'm jealous of is their computer setups. pimp shit.
People are not rushing to gold and silver because they think it is a great investment, it is fear, they can think of nowhere else to preserve wealth if all shit hits fans.
The bull isn't in gold, it is in fear and confusion. When all are on board then is the time to look for exits.....but there is much fear and confusion to come.
A rally led by fear will be far stronger then a rally led by greed!
A good point. I see a divergence in physical gold and paper. Paper is much easier to transact and will see the bigger swings in speculation fear/greed. People who get into physical gold are looking for the long term, less volatility on the sell side.
Its just started,people will rush into the safety of gold
and physical silver.The road ahead is quite bumpy.9
Whee! Isn't this fun? Are we all having a good time?
I see thousands of people fleeing to safety. I'm having a ball because the crazy is ending.
And the real loco is about to begin - with Machete!
http://www.youtube.com/watch?v=R10ljA0-sHs
Bloomberg bullish on gold... Just look at all their female anchors wearing their gold BLING! There was a time in the past 2 decades when women chose white metals (platinum and silver) over yellow. Gold is back baby!!!
Rich
how long can the 'rush to gold' last ? days? weeks? months? years?
when the banks throw in the towel on the sovereigns and let the debts collapse, gold will crash.
You think that when the sovereigns default, people will just pour back into their paper?
Just say no to crack.
Such an event will still cause gold to rise, just not as fast as it would in hyperinflation. Default will allow for a controlled rise and a path back to remonetization. Hyperinflation is just governments attempting to hold on to control of their money after the people have lost faith. Either way, gold will be money again. There is no way around it. Confidence in paper is eroding like a freshly restored beach in a hurricane.
You're looking at it from the wrong angle. People aren't rushing to gold. They are simply running away from a bunch of crazy cheating stupid fucks who run the world. Nothing personal.
+$1,235.60 plus 1
+$1,244.40 plus 1
When you combine this news with the recent price action in PHYS, you have the makings of a serious RUN ON PHYSICAL GOLD.
Watch for backwardation in the June contract. If...and admittedly its a big IF...this continues, we may finally get the Mother of All ShortSqueezes on the Crimex.
Another new acronym. MoASS.
I need some MoASS!!!!
MoASS!!!!!!!!!
I got MoASS...so much MoASS that if I had to haul ass it would take two trips.
I asked the only other person I know who's holding a major portion of his assets in gold/silver, at what price would you sell? He couldn't answer. I'm asking this question to the Central Banks. Yes, that's right, the people that actually HAVE the gold. When are you going to sell? If the price of gold is so high, why aren't you announcing any sales. Take advantage now.
Because gold isn't meant to be sold, it's meant to be SPENT.
Bingo.
I will SPEND my metal when it is the only way I can aquire flour, kerosene, feeder livestock, cooking oil, and a few gallons of gasoline a year. Until then, I could give a fiddler's fuck what the price is. Believe me, if it ever gets to the point where I need it, I will be spitting feathers over the "long term performance" of my investment.
It's not a matter of price.
You sell as the DOW/GOLD Ratio approaches 1.
Wow, interesting, I noticed ProAurum now have ZERO gold left today, thought it must have been a site glitch or something. Happy I stocked up a while back.
Panic buying of Au and Ag coins - coming to an English-speaking country near you (and me).
Coming soon? How about already started? 3 week wait for silver maples. No new 1oz coins available locally - just have to wait for others to sell.
APMEX has them ready to ship.
I put all the spare cash I had laying around into gold and silver. Then when a term deposit came due I took some of it and doulbed my silver...now I am wishing put the lot of it in.
However convincing the wife to agree with that would have been hard; she was surprised with how much I had already put in.
Putting it in is for taking it out later, at the right time...probably when all shoes to drop, drop...and that is quite a while off.
I love the comments from those who aren't "tuned in". They don't understand gold at all (or fundamental economics). And their comments are quite amusing. It's kind of like when 10 year old boys talk about sex.
I Love Gold Salesmen who used to be used car salesmen ratteling on and on about how buying high to sell higher is the wave of the future... bubble buying! at the top! hurry limited supplies!
Hurry today and be one of the suckers who bought at all time highs!!! ask the last idiots who bought at all time highs how thier assholes feel? The are still 100% upside down!!! study the 10 year chart.. dont look at the mirror 30 year!!! look into the future, damn the past!!! $5k and ounce, 8th grade math! Bla, Bla and fucking more Bla!
You are a bottom feeder, your are a used car salesman and you use fear to herd people.
30 year chart is a mirror of today... that means it looks a lot alike... but, $5k an oz. and beyond Buzz LightYear!
JW, stocks/commodities that are high often trend higher. There does exist 10,100,1000
baggers out there. just saying!
Yep, you'll do JW, you'll do.
Ineffectually taking the moral highground.
Spitting out bullshit like a multibarrelled machine gun.
I usually have to watch congress question someone to get all this.
People that argue with anger are people that are arguing a belief and not the truth.
If you know its the truth, you don't get upset.
Bingo, Ms. Puddy Tat. Bingo.
Thing is, saying it will piss them off more instead of serving as a wake up call.
If you're right, everybody wins. Most of the people here (IMO) are buying PM hoping that the next time it sees the light of day it will be when their kids find it after they die at a ripe old age.
Somehow I just think I'll be breaking it out of the safe in the next twelve months. If not, I'll still have it in thirty years when it peaks out all over again. Either way, I win.
Here Kitco has all the charts you want to see... 30 day to ten year... http://www.kitco.com/charts/livegold.html
Here is the 30 year... http://goldprice.org/30-year-gold-price-history.html
As for the 100% annual? who wasn't? making that? Twice it was blown out to over 3 years... stupid people should buy Gold who can not make money is your pitch then?
Can't find Gold, Physical? Scarcer? Running Out?
RUN!!!!! GODZILLA!!!!!! RUN!!!!!!!
Idiots... buying Gold at all time highs... ask the last idiots who did that how thier assholes feel?
Buy Low! Sell High! no magic...
You have an obsession with other people's asshole. Just sayin.
Oh, I forgot the question thing....
Do you have an obsession with other people's asshole? Do you think I am just sayin that?
The human asshole is twice as sensitive as the vagina and 4 times as sensitive as the penis. So apparently buyng gold will cause great damage to the absolutely most sensitive area of the human anatomy that is traditionally used for sex.
And I really worry about his advice becuase it just makes so much sense. I see dollar supplys tightening all over the place. You just can't get these people to create more new dollars they are so stingy. I can just see this "bubble" plummeting do to the complete lack of printing and growth of debt.