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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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Would that be a circumcised or uncircumcised penis's Hep? I understand uncircumsized penis's are more sensitive, but just can't imagine that scenario...
he human asshole is twice as sensitive as the vagina and 4 times as sensitive as the penis
That's why a mouthful of peanuts gets 30 chews around here!
on Wed, 05/12/2010 - 11:11
#346369
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.
Hephasteus,
Fear... you are short the dollar based on fear...
Fear that the U.S. Government has lost the ability to control the price of Gold?
Fear that the rest of the World Governments are not on board with the idea of controling the price of Gold?
Fear? You Fear the printing press? that is the U.S. mint?
Here, have a history lesson or two and call me in the morning...
****** "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). " *******
******* "
With the latest CPI and PPI indicators pointing to higher inflation more eyes will turn to gold as a hedge. Those that choose the gold paper path, will find themselves in a market that doesn't make sense. They will ask as many gold bugs have asked, "why do my investments continually fall?" Paper gold may not be the hedge or protection against falling technology investments as long as the leasing of gold and the paper games meant to suppress the price of physical gold and the demand for it continue. And until the ultimate winner of the Euro v Dollar battle hands are raised in the winner's circle, the dollar-based investments on US markets will continue to suffer from a loss of value and will continue to miff those pundits so entrenched in their own lack of seeing that the Fed no longer has the control they believe. Steve Hickel 2 March 2001" *****
http://www.gold-eagle.com/editorials_01/hickel030201.html
So what I am plainly saying is... this has all been doen before... there is nothing new happening.... and Gold verse paper or more accurately the United Fucking States Marine Corps will not win, based on physical posession taken by a few fucking Uni-Bomber / Bible Thumpers and or other...
So, let me know how your asshole is after you buy Gold at $1,250, stupid.
-1
-1 for what?
speak up?
cat got your tounge?
what exactly is not true? or is it minus 1 becuase you don't like the facts? well guess what neither do I but that doesn't mean I am blind or that I am going to discuss unicorns, rainbows and / or other.
Hopes and dreams of Gold at $5k an oz.? I have to live in reality, I have to provide thusly Gold sits and does nothing... maybe it goes up, maybe it goes down... but no returns until sold if a profit is realized.
B of A... 100% how many times over? in and out in the last 3 years? Gold? in the last three years has once annualized given me that return, once.
I guess for the retired, moral purists who do nothing but hope for a quiet passing... or who want the world to change after they got out... its an ok view.
I'll tell you after we see which direction it goes. Either way I won't ever be redeeming for FRNs - so ultimately it won't matter. If it goes down I buy more. If it goes up I wait. If it hits the moon I head for the hills. Pretty simple. Doesn't take me 8 inch posts to get my point across because the reality is plain to see once the corruption is exposed.
Ouch! The way you swim with the sharks makes me suspect you might not need those water wings...
So you are retired and don't have to make the world go round and round... good for you, bang up job your generation did by the way...
If you sit by the river long enough you will see all of your enemies float buy?
Be well and enjoy the rocking chair, JW
He is early 30 something (31 I think), for what it is worth. I'm the teen mom he never had.
The human asshole is twice as sensitive as the vagina and 4 times as sensitive as the penis.
OMG Dude....and you know this, how?
I study everything. I can't just learn facts. I have to gobble up all information about everything and then knit it together into something that makes sense to me entirely. It causes communication problems because I want to burst transmit huge thoughtball of connected material but can't do that here.
I like it when you do. Always an interesting ride!
I'm with you. A fat finger will find gold.
haven't you noticed people here find you to be a moron. Why don't you just get lost?
by the way, a funny anecdotal evidence about the Czech Central Bank. for the 2010 Shanghai expo Czech stand, the organizers asked the central bank to lend them a ton of gold from the reserves. they wanted to make a teardrop out of it and display emotions of people looking at it using EEG of some sort. The bank refused due to "security concerns" even though the transportation and guarding was secured and paid for. I would rather call them Tungsten concerns.
Any thoughts on using GoldMoney.com? I kinda like the idea of have physical holdings outside the confiscation reach of US authorities.
As stated earlier by others, the only reason to own gold is to spend it (barter) when the time comes. It might be better to have it in hand at that time. The authorities can't take your gold if they don't know you have it. Buy it from an out of state vendor and have them mail it to you. If they do track it to your door, shoot them with that gun everybody is talking about.
Jame Turk is an honorable man and runs goldmoney very,very well. Unfortunately, to get a gold money account you need to supply so much info about you and your finances that the USgovernment will have no problems confiscating your gold from Goldmoney. Goldmoney gold is housed in the kleptocratic states of The US, GB and Switzerland.
If you have gold, even housed in la Swisse, the Feds know you have it and will fit a jailcell according to your needs if you don't cough it up.
I don't own any gold accounts because I'm worried that the CBs will eventually realize they have to put a lid on gold as a competitive(and better currency) and just flat out STEAL it like the 30s. The world is moving towards a Keynesian fomented implosion and metals are going to play a huge part in fiscal prudence whether the banks know it or not. It's fungible,liquid and a senior currency as we all CAN SEE NOW. For all you gold haters out there-even the central banks are collecting gold and hoarding it.
I'd recommend you check out Bullionvault.com as their operation is transparent, has a 24/7 online marketplace that keeps the spreads minimal, lower commissions, and lower storage fees than Goldmoney. If you check out the 3rd party audits (every biz day on BV vs every quarter on GM) available on both sites you'll see that they both store the gold on adjacent pallets in the Zurich vault.
Over the next 5 days, I bet FXE has a better return than GLD. If there is anyone in the Chicago/Indiana/Michigan region, I'm willing to put a friendly wager of a cold beer on it.
Current prices:
FXE 126.00
GLD 121.06
I'll take that bet, but I won't be very surprised to lose. I live/work in River North, and the loop is convenient enough.
Apparently, huge demand coming from Germany (long memories those krauts).
Weber voted against ECB government bond purchases. The German population is furious knowing that they are going to be footing most of the bill for this made in America bailout.
From ftalphaville:
Traders and coin dealers said buying was exceptionally strong from German and Swiss investors. In Frankfurt, gold sellers said that demand late last week was three to four times normal levels. The spike appears to reflect concerns in Germany about the potential inflationary impact of the European Central Bank’s decision to buy up eurozone government bonds in the wake of the Greek debt crisis.
Reports were also circulating via Twitter that German online bullion websites had nearly run out of gold coin supplies, and that some websites had suspended or restricted services.
http://ftalphaville.ft.com/blog/2010/05/12/229071/quick-run-for-the-goldschlager/
Holy Fiat Betrayal, Batman... After generations of inflation-busting at the core of German monetary policy, the public has lost faith over the weekend.
This is a tectonic plate shift. Or....(pinkie in mouth) a ...TEUTONIC plate shift>>>>???
I like "pun"ishment. +1.
us ran out of gold eagles a few months back. that was also a buying sign. same as this
gold is real money. there is no pe ratio or limit to how high it can go
The Governments of the World that have held Gold in check for how long? would laugh in your face!
So much for the Austrian mint forecast back in Oct.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aRL6_p76u8oU
They were a little off. No biggie. LOL
If GS can create shorts faster than the Europeans can print money, can't GS also short gold into the basement any time they want?
Like after everybody buys above $1200/oz.
That's been JP Morgan's job for awhile and they've been pretty successful at it. Don't count on that continuing.
A lot more people are wearing tin hats now.
Yes....unless the governments want to blame GS & JPM for precious metal prices manipulation.....then, allow gold to reset to $5,000 per oz, then say that they will back the dollar with gold, all the while politicians & government cronies are pointing their fingers at banksters....reset the whole game, play again.
Just a theory.
Yes, until they've stocked up on enough themselves and decide it's better to "go with the flow". That has not happened yet. When it does you'll see big gaps up.
I am concerned about this in the short/medium term as well. I bought gold in 2000 and a couple yrs ago sold half. Looking to buy again but hesitating on a parabolic run.
When is phys gold a threat to the powers that be and why couldn't they turn the HFT on gold to take it down for a good entry? It's tough to bet against the house until their advantage is taken away. Does anyone think our corrupt government will do anything but a wash over investigation of JPM? the FED? etc..??
The corrupt government will take down JPM and bitch-slap the FED when it is to the government's advantage......just like the corrupt government confiscated gold in 1933,reset the price and passed the Glass-Stegall Act that put Humpty Dumpty back on the wall. Reset ~ New Game
All that is old, is new again.....history repeats itself.
Those two are not the same. In the first case, the central banks have control over the supply. Increasing the supply is going to push the value down. The shorts are just taking that medium term consequence and making it immediate (this is how markets should function).
In the case of gold and silver, the supply is set or declining, respectively. Shorting gold and silver makes no economic sense. You can not make a profit off of such a move, save at the expense of other traders.
I don't see any indication in the news blurb that Tyler posted concerning the Austrian Mint running out of gold. Just an observation.
Secondly, remember the housing crisis, when everyone and their grandmothers were talking about getting rich by flipping houses?
Yesterday, while I was working out at the recreation center, I overheard two guys, who happened to be sales men, talking about buying gold and selling it for a profit.
Outcome of scenario one: crash.
Outcome of scenario two: crash.
When everyone is talking about buying gold, that's when I know that a good time to exit is, and that time is approaching soon.
Here's the difference IMHO....where is the credit market to allow people to purchase gold? The only people that can purchase gold are those with money. During the housing run up, a bum off the street qualified for a loan.
Physical gld, that is.
I prefer black gold.
Carl if you could stock pile, store enough Oil... right now would be the time... trust me, people go on and on and fucking on about Gold... but price manipulation, squared... is oil right now.
Plus 1m for having a fucking brain and using it Carl!
Ya too bad it's a volatile product. That evaporates. Turns to tar, when refined turns to shellac. You know what is a good store of wealth? Something durable hard to corrupt with normal chemical existance on earth. Now let me see. What's something durable that's in limited supply but not too limited.
Intelligence!!!
No that's a bit too limited on supply.
Bananas!!!
No that's not quite durable enough. Old people won't even buy them if they are green.
Shit sorry. I can't think of anything that fits the bill.
Hephasteus,
Fear... you are short the dollar based on fear...
Fear that the U.S. Government has lost the ability to control the price of Gold?
Fear that the rest of the World Governments are not on board with the idea of controling the price of Gold?
Fear? You Fear the printing press? that is the U.S. mint?
Here, have a history lesson or two and call me in the morning...
****** "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). " *******
******* "
With the latest CPI and PPI indicators pointing to higher inflation more eyes will turn to gold as a hedge. Those that choose the gold paper path, will find themselves in a market that doesn't make sense. They will ask as many gold bugs have asked, "why do my investments continually fall?" Paper gold may not be the hedge or protection against falling technology investments as long as the leasing of gold and the paper games meant to suppress the price of physical gold and the demand for it continue. And until the ultimate winner of the Euro v Dollar battle hands are raised in the winner's circle, the dollar-based investments on US markets will continue to suffer from a loss of value and will continue to miff those pundits so entrenched in their own lack of seeing that the Fed no longer has the control they believe. Steve Hickel 2 March 2001" *****
http://www.gold-eagle.com/editorials_01/hickel030201.html
So what I am plainly saying is... this has all been doen before... there is nothing new happening.... and Gold verse paper or more accurately the United Fucking States Marine Corps will not win, based on physical posession taken by a few fucking Uni-Bomber / Bible Thumpers and or other...
So, let me know how your asshole is after you buy Gold at $1,250, stupid.
Well, confidence in the US government is comforting to some, I guess.
How again is the USMC paid for? With some kind of money, I suspect? And with all this having been done before, like a perfectly rhyming poem that infinitely repeats, I suppose that means they'll never fail to get paid? No matter how high the government's debt?
That seems like a gamble based on fear, to me.
faustian bargain,"Well, confidence in the US government is comforting to some, I guess."
JW n FL, “As compared to, the option of you facing roaming mobs looking for something to eat and those crowds stumbling across you and your family? Sure, I think that you will fair far better with the status quo…even though the World is being robbed or propped up during downward portion prolific cycle. Depending on your point of view, but in either… Yes! You are better off.”
faustian bargain, "How again is the USMC paid for? With some kind of money, I suspect? And with all this having been done before, like a perfectly rhyming poem that infinitely repeats, I suppose that means they'll never fail to get paid? No matter how high the government's debt?”
JW n FL, “The USMC is sworn to up hold the Constitution, the USMC is not sworn to get a pay check. Maybe that is why you are having a problem wrapping your head around the alternatives?”
faustian bargain,"That seems like a gamble based on fear, to me.”
JW n FL, “The Status Quo, or REALITY? Is what it is really is. The reality we all suffer is not a Gamble for it is already upon us, all! As for relying on the notion that the powers that be will do anything and everything in their power to stay in power, I don’t see that as a Gamble… but if you would like to use the rule of averages and / or history to set a base line to work from, I still don’t see it as a Gamble as much as reality. A shared reality.”
Janice is right. You're really hung up on assholes.
Na. I'm too crazy and stupid to bow out. Everyone learns that about me eventually. I just think your marine shit is funny.
But don't worry if we're doing this all again for another 5250 years. I'll give you plenty of oppurtinity to understand that I don't need protecting and what you call I crushing army, I call a nice challenge. Keep trying to control what you can't.
Hephasteus,
First off you are a spinless lil fucking mouth piece... and allow me to transmit why. You start an arguement... too run off when I hand you, your head back on a silver plater... to start anohter. You stand for nothing and your cowardly hit and run tactics? Like I am the Fed's? Like I am the larger force? I am one of the very fucking few here that are warning people to be carful buying at the top. You, you lil spinless fuck... better fucking hope the lights stay on, becuase you have no balls in a chatroom... I can only imagine what happens to you in the real world and to be clear... I hope and pray that the world rights itself, it has time and time again... albeit, the powers that be end up screwing everyone in the process, but its better than no lights. And if you think me, in a chatroom reminding you of reality is to, too much... as in too much to even engage and or think about.
Honestly, if the lights go out God Bless You and Yours... I hope all goes well for you. But, Personaly I don't get up in the morning and prep my day based on Unicorns and Rainbows... and I think that you may have some real flaws in your thinking with regard to Quality of life and fuck it, add Life to the list...
I worry for the broad majority of people... You worry not... I am concerned for the well being of all... You are not concerned. I could go on and fucking on, but it either something you have or something you don't have...
The Army, is a Mobile Police Force... The Marines are not, Clean sweep vs. hand holding? Considering we have already broken our own laws and the Millitary is operating in our Country... I don't think you have a good idea of what is typical in a small mobile unit.. here are some video's of what you consider a nice challenge.
http://www.youtube.com/watch?v=5Iz5MwPsfyo&feature=related
http://www.youtube.com/watch?v=lAjM_2uDrS0&feature=related
http://www.youtube.com/watch?v=uRClIw2eJ5I&feature=related
http://www.youtube.com/watch?v=v7zKPfmSKj0&feature=related
http://www.youtube.com/watch?v=QQ7cTI623Vg&feature=related
So... since you are so... ignorant as to what you will be facing... I will offer you a little help... http://www.abovetopsecret.com/forum/thread297970/pg1
Your Jolly Roger avitar and comments contradict.
What's difficult to ascertain is the proportion of investment buying vs. speculative. In US housing markets, toward the peak about a third of all condo and housing (in hot markets) was said to be second homes and flipping.
Physical gold is just barely hard enough, and expensive enough, to buy and sell that I doubt it is a casual speculative choice for an average investor; that's nearly all long term investment. Paper gold and futures plays, easy enough to speculate.
I don't know much about gold except it is a shiny bright metal that we are all attracted too. Where does the price of gold end, who knows but I would not be surprised to see it hit 2K with all this printing going on.
For doom and gloomiers, I would rather have food, guns and ammo if the shit hits the fan and not be the man running around with bags of gold under my coat.
JP Morgan didn't carry his own rifle.
I dont carry mine becuase I have too...
I carry mine becuase I want too...
And my brass trumps any other shiney metal out there, all day... every day!
Not sure if you can use guns to barter for everything you'll ever need, which you can with Gold. If you think Gold is useless, you might as well burn your paper dollars right the fuck now. I DARE YA. After all you can't eat them too, right?
s
To: JW n FL
If I offered you a big steel lock box that could not be opened for 50 years, would you prefer I place $1mil of federal reserve notes in it or $1mil in Gold bars?
Think about your answer as it will be used as a measure of your intelligence.
The case is strong for Gold.. yes... but much weaker given the price... Yes I own Gold, Yes I think its a good idea.. but scaring people into buying at the high is not what I would call being considerate of your fellow man...
You have choosen to interject yourself into a conversation that is in fact about something else and argue another point... so, in an effort too get you to shut the fuck up... or get on the topic of the arguement offered....
Yes, I would of course take Gold.
But I have cash already.
Hopefully none of us are buying anymore and are fully deployed in tangibles of various sorts. If someone hasn't purchased any, well they're SOL. I wouldn't take my chances waiting after a trillion bailout face-planted this week.
Your theory operates under the assumption that those of us who carry shiny gold don't also carry shiny brass. That is liable to be a costly assumption.
Sweety if these idiots (and you may very well be one of them) get thier wish of the lights going out to come true.. I am the fucking least of your daughters or wifes fucking problems... Fucking pun on purpose.. mount up cowboy.
First of all, I did not intend to imply that I thought YOU or anyone in general were coming after MY gold. It was meant as more of a broad based comment that I think most of the people like myself bought gold LAST, after they had their other bases somewhat covered, arms being higher up on the list.
Secondly, I by no means am sitting in my bunker waiting for the lights to go out. I just have a pretty shitty feeling that they are, so I make the best I can of it.
Do I think I'm going to bunker up and fight off authorities if they want something I have? No. Do I think I might have to fight/scare off people who want to raid my garden? MAYBE
Do I think were headed for instant grid down? No. Do I think that living in a rural area, I'm going to be lower than whale shit on the priority list to get my power fixed when it's only me and six other houses in three miles? Yes.
Do I think food production is going to disappear off the face of the planet? No. Would I rather go to the cellar and get food I put up myself than wait in line with a bunch of sheeple to get passed over for stale bread? Yes.
I've lived in a relatively depressed rural farming area all my life, and in many ways, have been "mounted up" for a long time. What may or may not be coming down the road will effect me much less than you. (At least at first) I will have the luxury of watching what happens to you in Florida however, and will have some time to decide what's in store for me. Enjoy your riots. And looting. If my whole county rioted, they could fit in my front yard. Around here we call it a pig roast.
My family goes to the Bahama's... I wait for the dust to settle and then I come back to rebuild my Country... Palm Beach to the Bahama's is 53.4 miles to west end.. a lil better where we have some private space. The homes are always stocked for Hurricanes and we have power no matter what... Get the girls offshore and get back to roll up my sleeves to bring peace back to my State.
You sound like a smart guy and you jumped into me bashing the Gold Salesmen here that use fear to herd the lil people into shinny shit... not once do these bottom feeders mention wht Gold looks like historicly right now... not once do these fucking used car salesmen mention food and ammo first... if you where to click on my lil bule name you would see this is an ongoing arguement between me and the bottome feeders.
I will offer you a couple of good buys...
http://www.google.com/#hl=en&source=hp&q=herstal+fn+5.7&aq=0sx&aqi=g-sx1g-msx1&aql=&oq=herstel+fn+&gs_rfai=&fp=934aa8f3e849a8f5
&..
http://www.brownells.com/.aspx/pid=31987/Product/AR_15_M16_OPS_416_GAS_PISTON_CONVERSION_KIT
&... if you have the cash or the laws in your state allow.. a bullpup to match the pistol.. would be great to have laying around as well.
the hard thing to come buy (pun intended) http://www.google.com/#hl=en&q=.223+ammo+bulk&aq=f&aqi=g2g-m1&aql=&oq=&gs_rfai=&fp=177e4f9d2dc70391
Some light armor.. and starlight as well... along the same lines as hedging.
I hope for all of our sakes that the lights do not go out, God help the lil people if they do.
Man you are really scared. Why not face your fears a little bit more straightforwardly. I mean being in a chat room full of "bring on the crash" people may be a bit too harsh for you. Just because we are going to crash doesn't mean you can give into every single fear you have. People will handle things. Quit worrying so much.
Actually, I understand where he's coming from. He's like Mako, but with a plan. More power to him.
There's nothing wrong with worry, as long as you use it as fuel to prepare.
I understand why he lashes out at some of the gold bugs here. Many seem to think it's the end all to be all. But I truly believe that the definition of value is about to get stood on its head. When the markets become "officially irrelevant", the value of gold will be determined by those who hold the commodities. It can only be worth so much before it becomes worthless. I said this in another thread, and I will repeat it because I'm kind of proud of it:
If I have extra food, and you are in need, I will GIVE it to you. If I don't have enough for my children, all the gold in the world won't buy you an ear of corn.
I buy PM's because I think it's the only place left to go. I have no plans to be rich because of it, I just don't have much faith in a BofA passbook savings. Some of you deride those who buy coin, or have picked up junk on E-Bay. So be it. Those are the posters who don't understand the plight of the little guy, who buys from week to week, and sometimes all he has is enough for a Morgan. I've been there. We just do the best we can. Keep deriding. Be thankful for the little guy who is paying enough attention to at least know he's not getting the same deal as those who can afford 20 oz. minimums on Tulvig. His freezer is full. Those who pass judgement may very well be the ones starving on a pile of metal in a burnt out city, screaming, "BUT I GOT GOLD BITCHEZ!!"
Dude, we're on the same page, as far as post SHTF. Though I am new to posting here, I have been lurking a long time, and confess to a familiarity with many of you who don't have the first fucking clue who I am. So, when I jumped in there, I was just giving you the needle a little bit, but I see where it was kind of a sucker punch.
Here's my skinny: My retirement (HA!) is tied up in a union pension that I do not expect to see a dime of, or else it will be inflated into worthlessness. Therefore, my extra cash goes into tangibles and metal. I have to be ULTRA conservative to balance out my blue sky pension. I don't think PM is the saviour by any means, I just think that monetarily it is the only thing that is guaranteed to be worth something. To give you an idea of my headspace: Last week, I bought a spare chainsaw (same model as the other,,, two is one - one is none) instead of metal. :)
Thanks for the links. As far as that category goes, it's where I'm the best prepared, suffice it to say I had an affinity for all things shooting LONG before I I knew what "spot price" meant. Have you had good luck with piston conversions on DI rifles? If so, how many rounds through the tube? I had heard so much flak about carrier/buffer wear on conversions over factory, that when I joined the piston club, it was SR-556. Buffer wear doesn't worry me, but I had heard (all internet chatter b.s.?) about carrier tilt getting bad enough to be wearing on the upper on conversions in a matter of a few thousand rounds. I got a little tube wear early, but it settled out after a thousand rounds or so. Beginning to have some faith in it. I like the piston platform. I buy rifles to use them, and where I live (damn near as far straight north of you as you can get and not be a Canuck) , it isn't unusual for me to have a 140 deg. temp swing.
Starlight is covered, in more ways than one. Armor not at this point. It has ranked lower on the list than some other sundries. My life is a hedge.
Problem is there are parts of his plan that won't exist within 5 years maybe sooner.
I for one am getting really tired of all the strawman arguments about why we shouldn't own gold. We've beat them all down but they keep coming back with every new radical fiat bug who hits this site. Shall we recap?
Nice summary!
Plus 1...
You think that now, but I would happily provide someone with that kind of money with room, board, and protection in exchange for some of that money. I would rather have rich neighbors than poor ones. In general, what is good for them is good for me. If they are able to attract capital investment with their money, then life will be a lot easier, even for those who are poor in all but food and guns.
But someone with a grocery cart of guns, canned food, and ammo would probably be turned away.
I question you're thinking in one way: If in the middle of TSHTF, a man who has had the presence of mind to aquire a grocery cart full of the things needed to live, is of less value than a man who has shiny shit in his pocket?
The first man is neither poor, nor a fool. He is practical. Both have invested. If you turn him away, he will eat and protect himself. If things get that bad, phrases like "attract capital investment" will be the only thing worth less than the gold.
http://gordongekkosblog.blogspot.com/2010/03/its-going-to-implode-buy-physical-gold.html
'nuf said.
Maybe $1,250 today. Shoosh!
MoASS!!!!!!!
MoASSes
As far as PM's go, hasn't there been a ratio of price between gold and silver?
When will silver "pop"?
Who knows! One thing I do know is that the local vendor of shiny stuff (who purchases direct from the refinery) doesn't have any (coin) left. Huge shipment arrived this week - all gone. Couldn't get through on the phone until almost closing time. Has some bars though...
When will oil pop? What's the gold/oil ratio? If that ratio holds no matter what, then the gold bugs are right. If not--look out below.
We've been through the oil hype of 2008. Oil was gonna go above $200, 300, 500. Didn't happen--went back to $35 and now around $80. Doesn't mean gold is a bad investment or that prices won't go up. But once everyone is on the Gold wagon, some will take their profit and run. (back into oil perhaps?)
http://www.realclearmarkets.com/articles/2010/05/06/oil_isnt_expensive_the_dollar_is_cheap_98450.html
15:1
Gold $1200 = Oil $80
Gold $2000 = Oil $133
Gold $5000 = Oil $333
Interesting times = Gold $5000, Dow 5,000, Oil $333
Should be oh, 2015 or so.
Those who are buying physical gold and taking delievery, subsequently placing coins with safe non-bank institutions or just hiding coins in mountain cave, will be proven right, but long term, as deflationary demolution of current irredimable money system would take at least several years. Their ultimate reason to buy and take delievery at any dollar price avaliable now - is a prudent expectation that "there will be no market for gold vs dollars at ANY price at some moment in future and henceforth", as Antal E. Fekete put it. But what percentage such a prudent longterm wealth protectors comprise of total turnover of the gold market? I would dare to guess that it is miserable figure. The majority of the investment community just plays with fire, participating in Ponzi-like LBMA/COMEX scheme, that is pretty much obvious for many ZH readers. Both institutional and retail investors, are chasing virtual investment vehicles, ETFs, futures or unnalocated LBMA accounts. They are doomed to be f@cked twice - first when deflation will oppress institution to liquidate speculative longs (commodities, gold, whatever) and all herd impulse will cause stampede for exit (because all bull markets end that way); and second time holders of gold IOUs will be totally battered when everybody realise that gold IOUs has no even dollar value. How much dollars you gonna pay for promise to deliever something, if you know that the promisor has nothing and has no means to get anything? How much dollars would you pay for an account (denominated in gold, silver, cocaine or shells) held with a bankrupt bank? Not much, i guess:)
I live in India's gold & silver capital. Every Indian, I mean, every has a certain amount of gold. As there is a extremely large amount of recyling of gold ornaments , a lot of gold & silver is available quite easily. We have had the habit of buying Gold since a few thousand years & its ingrained in our culture. There are certain days in a year specifically called " Guru Pushya Nakshatra" when the planets are aligned in a way that benefits the buyer of Gold etc. April 22,2010 was such a day. The way gold price is going Indias going to be the richest country in the world as you would find the maximum amount of Gold here. A few hundred kilos would be changing hands daily in my city.
Gold apart, access to food & water is also mandatory for future survival. Urban areas might be highly stressed in the near future. God Bless us all.
Little OT:Saw recently in Washington state they were dumping truck loads of sour (cooking) cherries on the side of road. Anyone could take as much as they wanted. Cost more to move cherries to market then they were worth.
In Great Depression, they destroyed food to keep prices up while people starved. FDR also wouldn't allow union wages to be cut to allow more hiring. Political donations more important than people.
On gold, I know it sounds reassuring to have gold in your possession. Govt will steal it (as they did in '30s) unless we have a violent revolution (not desirable for those living through it) and set up new govt on more libertarian principles. Anyone who lives through that and has capital (gold) may do OK. The trick is living through it without being robbed AND making sure that the new govt isn't worse than what we have now.
Don't see any sensible path forward. Just keep living until you can't.
But if it makes you feel better. Get gold, guns and groceries (3 G's). Also, good luck, you will need it.
its pretty easy to see how the squid make their winnings 62/62 taking the other side of all these papermuppet's trades isnt it.
so we get back to the argument is this merely a depression or a systems breakdown collapse? i think the meat of what is going to happen relies on this, more specifically the peak oil factor and how much of what we do is unsustainable in purely physical terms. i would say a lot of it.
in terms of the gold and silver 'panic' buying - i doubt that many people are buying much gold and silver, it doesn't take very much to drain all the retail stocks at any particular time. what will be more telling is if physical stocks are depleted continually going forward and if any of the big boys try to take delivery from the crimex etc. the average person still has no idea about what a 'fiat money' is or the history of precious metals as a medium of exchange...
by Bow Tie
on Wed, 05/12/2010 - 12:18
#346639
so we get back to the argument is this merely a depression or a systems breakdown collapse? i think the meat of what is going to happen relies on this, more specifically the peak oil factor and how much of what we do is unsustainable in purely physical terms. i would say a lot of it.
Bow Tie,
It is not peak oil, it is peak affordable oil... desert crude... ='s $50 dollars a barrel http://certmapper.cr.usgs.gov/data/envision/index.html?widgets=geologymaps&mapservice=geology_arabian&xmin=30.69&xmax=62.87&ymin=10.12&ymax=41.23 (so all of the internal numbers are in the mid east for comfort) verse http://www.deepwater.com/fw/main/List-by-Water-Depth-77.html which is $200 dollar a barrel oil... for all the Gold bugs screaming Gold is held down, price wise... Oil at $70 a barrel is the Biggest Lie that NO ONE! talks about.
Watch this... its not perfect but it will help you get where you need to be... http://www.youtube.com/watch?v=wYuLjGQQ-jg&feature=PlayList&p=C1B06538A32767DF&playnext_from=PL&index=132
How big is the problem going forward? how much of a push is on, quietly so not to spook the sheepeople? watch this... http://www.youtube.com/watch?v=JaF-fq2Zn7I&feature=PlayList&p=C1B06538A32767DF&playnext_from=PL&index=161
How serious is the Government? http://www.ustreas.gov/recovery/docs/Application.pdf
http://www.ustreas.gov/recovery/1603.shtml
I will save you the reading... dollar for dollar for free... plainly all costs divided between the developer and the U.S. Government... the Government owns no portion... it’s not the matching intellectual monies that are typical... Government picks up half or matches dollar for dollar however you prefer to look at it.. but expects 12% and to be paid back... not with energy. WE ARE SCREWED! and it’s not even how everyone here, who by the by are pretty smart bunch (save for the band wagon gang or gold salesmen), but even they over look the real issue.
Energy, the entire world business model of trade is 300% (on the lite side) off from what real transportation costs are let alone what they will be... and if we have no world trade, we have world war. No if's, ands, or butt’s!
Or so history says over and over and over again.
Just a quick Q - any of you heard of the Cenkos Offshore Gold Limited fund? Said to be 90% backed by gold.
To buy and trade physical gold and silver, even allocated, with low commissions and high security, give a look to http://www.Bullionvault.com/#pimpero
Buy gold? I got gold coming out the wazoo. I even painted my entire house, inside and out, with gold leaf paint. I figure the home's value will double in about 5 years.
You gold bugs are crazy.
Gold's no use to you when you run out of wallpaper!
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