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All The Gold In The World - The Definitive Infographic
In the aftermath of the Chairman's painful waste of time "interactive" session, which addressed precisely zero of the relevant questions, we would like to ground readers with a real, hard, monetary equivalent, which unlike paper money, has retained its worth over the past 2000 years, and one which no central planning committee can create out of thin air at will. Gold. The chart below should put it all into perspective.
and for those who may have forgotten it, here is what happens when one can create paper out of thin air: America's (not even the entire world's) derivative universe. Just a tad more.... diluted.
Courtesy of Demonocracy
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L'Or, bitchez!
That last graphic looks bigger than an "olympic sized swimming pool".
Thanks, 'cause thats what I've heard a bunch of times too.
Will they please overlay the last graphic next to the one that shows all the paper money debt owed by the US? I'm confused and think a ton is equal to a few trillion...
All The Tungston in the Gold - The Definitive Infographic
What are those buidings in the last picture?
Where they used to keep a few tons of the hard stuff
should show the data on pt or pd....despite higher crustal abundance, much lower in commercial deposits, production, total ever mined, everything.
Pt is mined in quantities that are small fractions of that of gold.
hahah Bernanke's helicopter is about the crash in that pic. What an insignifiCUNT!
They're ancient relics from the past used by the financial gods of old to creat havoc and mayhem worldwide. It was determined by the global elites that they didn't offer enough luxury to represent they type of image needed to project global tyranny so an excuse was created to have them imploded in place. We now have the brand spanking new freedom towers to house the new gods of finance while they look down from their ivory tower and imagine squishing the NYC populace under their thumbs like ants.
text bug .. "the US devalued Gold from $20.67/oz to $35/oz, by so devaluing the US dollar by 70% overnight"
not "devalued" .. maybe "re-priced"
the dollar is what got devalued, not the gold
a 70% percent devaluation would have changed the gold "price" to 20.67/(1.00-0.70) = 20.67/0.30 = $68.9/oz
the actual devaluation was 1.00-20.67/35 = 41%
possible rewording for version 2:
"The Gold Reserve Act of 1934 http://en.wikipedia.org/wiki/Gold_Reserve_Act re-defined the dollar, changing it from 1/20.67 ounces to 1/35 ounces of gold. The act thereby devalued the dollar by more than 40%."
Thank's for the suggestion. Always welcome. Will put into force.
coming soon (one hopes): the infographic of "all the silver in the world"
interesting components that might be hard to quantify:
all the silver coin (pre-1965) still extant
industrial/military/photographic/medical silver removed from the supply
btw -- does anyone quantify the ounces of "we-buy-gold" gold? or where they flow? or what the volume (in ounces) has been for the past several years? or how the discount rate has varied?
probably more useful data than the london fix.
get to work, FRED!
oh wait .. there it is: http://research.stlouisfed.org/fred2/series/IQ12260
and while we're at it, why are unredeemable gold-certificate "assets" sloshing around the 12 fed banks?
st louis 0350 to 0310
atlanta 0800 to 1400
boston 0540 to 0360
kanCity 0300 to 0350
newYork 4700 to 3800
chicago 1080 to 0840
cleveland 0520 to 0420
dallas 0480 to 0720
minneap 0180 to 0220
philly 0380 to 0460
richmond 0800 to 0890
sanFran 0960 to 1280
How much of that gold is sitting at the bottom of various lakes and oceans? Damn boats.
I read yesterday that the revaluation took 6 months... can that be right?
i like the pick up......beep..beep...beep, back that truck up and buy the dip....
166500 tonnes is a guess based on heresay.
Gold has been mined since almost the dawn of civilisation. Nobody knows how much gold there is. It could be a much higher figure than 166500.
EPic last image. It's funny putting it near a house, who said realestate was in a bubble?
Yes and the number is completely irrelevant anyway. When paper "promises" fail to buy you a loaf of bread, no ass will care about the valuation of gold in terms of paper FIAT dollar value. At that time it matters jack shit. All that will matter is to have something of value to survive another day.
It is irrelevant because quantity plays no part in the determination of value. Quality is how value is determined, something refined gold has forever. It is an inert metal.
However, Argon, Ar, is more chemically inert and is 1% by vol of the atmosphere. Ar should be the new store of value. Storage in double paned windows is the ideal method too-it insulates you from heat loss while preserving wealth. I can just see the headlines, "thiefs break windows, siphon off Ar for the black market"
Catherine of Argon was a hot piece of gas until ol' Henry VIII made their marriage inert.
I hear she was also very noble, and her stoicism bordered on complete unreactivity.
+100 thanks for the smile
It's also an invisible gas dipshit, not a solid object at temperatures in which we humans have to exist.
Try extinguishing debt in an invisible gas & see how far you get. "Yeah, that's a vial of pure argon, honest it is..."
Only gold has the necessary quality.
It's also a visible layer of gold plating, at temperatures in which tungsten has to exist.
"Yeah, that's a bar of pure gold, honest it is..."
And that's absolutely irrelevent to the point I was making, so why don't you fuck off?
I think we're all still trying to understand what point you're attempting to make, apart from the likely unintended point, "I am a giant douchebag".
The more important figure for me is the 17% held by governments/central banks. That leaves 83% in the hands of the people. While central banks control all debt money, they hold hardly any gold compared to the people. Is it any wonder they don't want gold and silver to be money?
That leaves 83% in the hands of the people.
Does "in the hands of the people" include hofjuden?
83% of the gold isn't shit when divided by 7 billion people. I have a feeling the Rothchilds are feeling pretty good with their measly 17%
It is still, ironically, around one ounce per person worldwide --- which has been roughly the same for the last several centuries.
So if they kill off a few billion slaves.... That's alotta ounces!
rotshits wouldnt be stupid and trust governments w/ their gold. rotshits use governments to steal gold for them from the people.
When has the wealth of the world ever been shared equally? What would be the purpose? The point is, they don't control it. It matters not whether gold is equally distributed. If gold was the basis of the currency system, the people would have control over the amount of currency in circulation- not the banks. Now, do you understand?
I wonder how much sits at the bottom or lakes and rivers due to boating accidents?
Anyone notice how much Iran owns? I wonder why they talk about war with Iran? Large gold and oil reserves.
Indeed. Wonder what happened to Qaddafi's gold?
http://disquietreservations.blogspot.com/2012/01/did-western-central-ban...
Absolutely.
He whoever believe that number is a fool.
There simply have never been the records kept to document said assertion.
Period.
(talk about folks prone to propaganda)
Those are in neat bars that are stacked...losts of air in between. 1 ton, solid gold is about the size of a basketball.
I don't think so. Basketball size lump of gold would weigh 302.24 lbs by my calculation.
A BB is about 1/4 cubic foot(29.5" circumfrence) x ~62lbs/ft3(water) x 19.3(SpGr of Au) =~302lbs
A 1/4 cubic foot is 1/4 of 12^3=432in^3 which is 7.5 inches on the side of a cube.
Now, a ton is 907 kg or 907000g. Divide by the density of gold, 19.3g/cc, and you get a volume of 47000 cc.
4/3*pi*r^3=volume of a sphere=47000
r=22cm
or a diameter of 44cm or 17 in. So, a sphere of gold, 17 in. in diameter is a ton. (The width of two sheets of paper)
So a medicine ball then....
Just wait when the sheep decide that all of their paper gold investments are just that....PAPER!! When that inflection point is reached there will not be enough swimming pools of gold out there to fill that panic hole......when the sheep realize their wealth is vaporizing by the minute the rush to anything of "value" will be breathtaking.....but then if you don't realize that by now then by all means continue to measure gold in any metric you wish.......of course there will be other stores of wealth.....there will have to be...but gold and silver will be high on the list
88,000 cu. ft is the cubic volume of said pool.
That's approx. 53,000 tons of gold or 1,696,000,000 oz equals $2,840,800,000,000 (@1675/oz)
They're talking about 166,000 tons of gold "ever mined"
...therefore, 100 tons of $100 dollar bills = 1 ton of Gold.
Thanks!
And more than Ft Knox can hold! (There is only enough gold in Ft Knox to pay down 10% of the Federal deficit for one year only!!!
http://confoundedinterest.wordpress.com/2012/12/30/if-the-chinese-raided...
Er, what's the price of tungsten again? I'm pretty sure 10% is waaaaayyyy off the mark.
China's share is at least 3X what is stated. Hell they took in, through HK, 1,000 tons last year alone. Combine that with the fact they are the biggest miners, carry the twelve and round up to...Oh I don't really know...but I'd guess 6,000 tons at least.
That's what I noticed immediately too. If you two guys (Flacon and Jwoop66) want the real answer and are willing to trust me, I did that calculation with a relatively high degree of accuracy about a year ago. I have an engineering background so the calculations are accurate enough.
I can't remember what the figure was though, for all the gold ever mined. But whatever it was, it would have fit into the exact footprint of an Olympic sized swimming pool and to the depth of 18 feet. That is also based on the assumption that an Olympic swimming pool has a flat bottom. In reality it doesn't. But just pretend it does. So it would be accurate to tell your buddy that all the gold ever mined in the history of mankind would fit into an Olympic sized swimming pool and 18 feet deep... OR... two Olympic sized swimming pools at standard water height... more or less (because they're also not all exactly the same depth.
So there's more private investment gold than government held gold in the world. I wonder when was the last time that was true?
Where's the graphic showing all the gold at the bottom the Marianas Trench?
Damn that's one hell of a boating accident you had...
Who is Mariana? And what did she have do to get all that gold? The standard?
.... Bernanke!
.... a friggin genius.....think of the NSA goldmine in all those twisted twitters today. A superior use of socialized media !
By the time policy makers figure out what's really going on, they are going to BEG for the stock market to drop.... This Germany coming for their gold thing is a wake up call to anybody who doesn't believe the end is near. We're crashing upwards... be ready!
Ahhhh, c'mon guys. That is just tradition. That is nowhere near as exciting and fun as allowing the FED to blow asset bubbles that the TBTF banking complex can make profit from while we create a nation of bagholders/debt serfs. It is simply water under the bridge that we (FED) are in fact responsible for that mess. If we can create it, and not be aware it exists, surely you should trust us to fix it by removing any impetus for fiscal discipline from the government. What could go wrong?
-Ben Shalom 'Bubbles' Bernanke
Gold, Bitchez................
My stash is best photographed beside a pin for reference.
Oh that's a different tyler .............http://i.imgur.com/Zl6Nf.jpg
"Hey girls, yeah I remember every stupid whore who blew me."
Tyler
Other use - is that BA Barracus?
Au really?
Did anyone see the e-mail from Bix Weir? Why would the Federal Reserve turn on JPM?
Subset of Bix's e-mail to public subscribers:We all know that JPM rigs the markets through derivatives originating out of their CIO London office so when this "Cease and Desist" order hit the wires it made me wonder... "If JP Morgan isn't allowed to further rig the markets...WHO WILL?"
http://www.federalreserve.gov/newsevents/press/enforcement/20130114a.htm
holy sweet fuck. No, I missed that while at work & none of the other banks mentioned it from any conversations I heard *at* work, and what I saw earlier on ZH was about that silly Bernanke-twitter feed. This... this is something right out of the twilight zone considering what JPM is. I mean Jamie Dimon is on the board of DIRECTORS for the Fed, isn't he?
I thought the "Rule of Demons" was always put the toilet seat down when finished.
Of the 29K tonnes allegedly held by world governments at level 3, Frank Veneroso's landmark study concluded that fully half had been leased out. And that was 15 years ago. What the hubris besotted central wankers have done since then is anyone's guess.
WOW and compare that with the debt graphic.....
Now you really can see why they manipulate the gold price... they are scared not only sh1tl3ss but are disemboweling themselves
That wouldn't be the case if gold were widely accepted as payment for debt. That has been a part of my argument or debate which no one takes on. Debts are denominated in US Dollars, thus that strengthens the dollar and weakens PMs. People need to raise dollars, not PMs to pay debts.
And if the US should decided to go to a legitimate gold standard, you have the situation where logically, why should I hold pounds of metal (store), when I can carry light papers backed by gold?
I hate to present these logical arguments to gold bugs. I hold PMs myself as a percentage. But I'm here to prosper, not get emotionally tied to ANY investment and lose.
That has been a part of my argument or debate which no one takes on
Debts are denominated in US Dollars, thus that strengthens the dollar and weakens PMs. People need to raise dollars, not PMs to pay debts.
***********
Actually debt is denominated in "all" currencies and even if it was only denominated in USD's what the hell has that got to do with paying debts in dollars and saving in gold?
In 2005 the dollar was trading USDX/0.80 .. Today the dollar is trading USDX/0.80
In 2005 gold was trading at $450/oz.. Today gold is trading at $1650/oz-
So where do you get that the dollar strengthens and weakens gold--that's simply assbackwards to reality-
http://tinyurl.com/cu2mvg2
I feel the need to point out, once again, that the artificial and all but meaningless "US Dollar Index" has NOTHING to do with the value of the US dollar, i.e. its purchasing power. It is nothing but a tool for currency daytraders, and has NO relevance outside of that narrow and short-term realm. The dollar can and has lost significant purchasing power all while remaining at or near the same DXY value. And that is by design, as the Dollar Index only 'measures' the dollar against other, more-or-less equally depreciating fiat currencies.
You're such a stupid fuck AK-
How can you measure the purchasing power of the dollar vs all the basket of goods?
Against the house prices in 05 vs today?
Lot more dollar buying power in real-estate today-
Oil in 08 at $150 vs $90 tosday?
Again-more dollar buying power today-
Food--less buying power-
Electronics-more buying power-
Where do you get your measurments from?
Post a link-verifying your claim-
You are the stupid fuck. The dollar buys less of everything than it did 5 years ago, The same goes for the Euro, Yen, Douchemark and every other fiat paper. Just throwing a possible short term exception(real estate) in there shows how much a stupid fuck you are.
Indeed Likstane.
This JimmyJames is certifiably insane when it comes to defending his beloved fiat currency, the US dollar. No lie, no matter how egregious, is too idiotic for him to throw out in defense of the bald-faced lies of the paper pushers. The fact that he can even bring himself to make the absurd claims that he did above, and in many other such comments here, is enough to dismiss him as a lunatic.
maybe we can be BFF...
Let's take it day by day, shall we?
;-)
Jimmy James writes:
"How can you measure the purchasing power of the dollar vs all the basket of goods?"
That's what purchasing power is. It's how much power you have to purchase. You can't just pick and choose measuring the value of something that's falling in value relative to something else that's falling in value and conclude that neither is falling in value. That's like saying that two boats in the ocean traveling next to each other aren't moving becaue they're remaining next to each other.
But the true measurement of how much value is being lost in dollars is not seen through measuring purchasing power. The true measurement is seen when looking at the money supply.
As gains in technology increase productivity, goods become more plentiful, and therefore, should actually be decreasing in price. Simply measuring the price of a basket of goods won't capture all of the resources the central planners are stealing from society by debasing the currency.
But the true measurement of how much value is being lost in dollars is not seen through measuring purchasing power. The true measurement is seen when looking at the money supply.
***********
And-according to Von Mises and most Austrians-the money supply includes credit and how is that doing today?
There's a lot of it. The entire economy is now based on credit / debt. Just look at the debt ceiling debacle...err..debate. The problem is that once the debasement/credit/debt/counterfeiting ponzi starts, it must either grow or else it implodes. So we either go deeper into debt, or the entire monetary system implodes. That's why it's impossible not to raise the debt ceiling without everyone who saves solely in a bank account losing their entire life savings. That's why the only way not to declare bankruptcy is to go ever deeper into debt. That's why once rates are artificially lowere, the only way to keep the economy from imploding is to lower them even more. And when ZIRP is hit, to do QE. And when one QE is done, it must be followed by another QE. And that's why the next round of currency creation will be larger and come sooner than the last round. And since politicians are self serving and only in power for the power, the politicians won't stop the ponzi because they gain by skimming off the rest humanity. And that's why this game ends in hyperinflation.
Speaking of end game, it's almost here. Negative real rates are not normal, especially when lender can't make good. The bad economic news is now rolling out and the market is starting to front run the next round of QE. As prices rise, yields become even more negative, putting more pressure to get dump bonds, forcing even more QE. Crackup boom.
such comments here, is enough to dismiss him as a lunatic
************
So how does it feel getting your ass kicked everytime by a lunitic?
Still waiting for that link-or "proof"
You are the stupid fuck. The dollar buys less of everything than it did 5 years ago-
*************
Why cherry pick 5 years ago? The post you're commenting to uses 2005-2013 vs $ vs gold-
Prove the dollar has lost purchasing power within that time frame-
I know you can't-
My God you are full of shit!
If you REALLY believe that the US dollar overall buys MORE today than in 2005, then you need to be commited to a psychiatric facility immediately. You might as well try to convince all of us here that the sky is orange, grass is blue, up is down and the government is our friend.
Who the Hell do you think you are speaking to here, and who in the FUCK do you think is going to believe such an outrageous LIE?
If you REALLY believe that the US dollar overall buys MORE today than in 2005
Who the Hell do you think you are speaking to here, and who in the FUCK do you think is going to believe such an outrageous LIE?
*********
Well then it should be easy for you to PROVE-no?
Everything you don't understand--which is LOTS--you write it off as a lie--
LOL
Shove your crazy lies and patently insulting bullshit.
LOL
Shove your crazy lies and patently insulting bullshit.
**************
Your BS theory blabber wears thin-
How do you KNOW what you speak of?
Let's see it-simple-no?
Hey Jimmy, Koo-gooch-a-ruke-chak...Klatchy-num-num-a-puuk-stickem...
Hey Likstane--you showed me nothing--I knew you were just another bag of wind on here-
http://www.usinflationcalculator.com/
And the winner is akak by 18%.
http://www.usinflationcalculator.com/
I purchased an item for $
*************
What item?
A home--Oil--?
Sounds very wishwashy-
http://www.usinflationcalculator.com/
I purchased an item for $
*************
What item?
A home--Oil--?
Sounds very wishwashy-
So price out a dishy washy or a washy machine and report back. Neatness counts.
And even that is based on the US government's manipulated, bogus and lowballed CPI numbers, so we all here (well, all of us except JimmyJames) know that the REAL inflation rate over the last eight years has been significantly higher than what the Bureau of Lying Statistics reports.
Alas, alas, it is the wishywashyness of despair that is monolized and derived via crusty bits to arrive at the mattering thing and that is very much something. Just have to bear with it untii the worm in the apple is thrown to the train.
Made me laugh.
In making mockerings of Engrish syntactical errorization and maoling our parangong of trollicity, George Dishwashington, one must be wording the mind and throating the idea of US 'american' citizenism, the most up mattering thing, or else all is for communaught.
Just have to go with the flowings.
Ah, ah, wishywashiness is the very mettle of Chinese citizenism strategy of pheriphical resources consumption.
While I usually shrink from the plan type conspiracy theory, I can tell that the Chinese citizenism plan is firing perfectly like a semi-laundromatic rifle.
Make me ho-ho like pinching 'American' terd too earlying at roadside!
Hey Mister Moron JimmyJames. You came to the wrong website to post. Use the Scientific method of observation to prove anything. Look at your rent, grocery bill, property tax, any type of insurance for car, house, medical, restaurant bills. You can do this observation thingy yourself with your bills for electricity, water, food anything. The scientific method is really powerful but requires respect for reality and observation. In short the cost of living priced in $ goes up-in gold it is nearly constant-like the amount of gold available. Yes consumer electronics cost less-this is the way things should be when efficiency and productivity are allowed to function in free markets. This $ devaluation has been going on since the creation of the FED in 1913. The $ can only buy about 1% of that in 1913. Look at an old menu from previous periods. You do do know a cup of coffee used to be only $.05? This is what happens when you have an "inflation target" of 2% and compound that year after year. More $=less value/$.
"Well then it should be easy for you to PROVE-no?"
Fuck, dude, if you want proof, just go to the fuckin' grocery store or builder's supply.
Everyone can choose specific timeframes to prove their statistical point.
Many focus on a slightly longer timeframe and draw their conclusions from that.
http://www.heraresearch.com/articles/bernanke_09_dollar_since_1913_cpi_d...
Every single year taxes went up, food prices went up, gas prices went up, rent went up, wages went down on top which adds to the problem, in the last 5 years. Oil price declines to prior levels did not return gas prices to the same levels.
‘jimmyjames’ needs to post links verifying his claims also. Rather than make ad hominem attacks on ‘akak’.
The US Inflation Calculator uses the latest US government CPI data (which are understated) released on December 14, 2012. The same basket of items that cost $20 in 2005 would be $23.58 or an annual rate of inflation change of 17.9%.
http://www.usinflationcalculator.com
First, low cost Chinese imports and some technology improvements have kept certain prices down.
Secondly, the CPI does not include sales price of homes. Instead, it calculates the monthly equivalent of owning a home, which it derives from rents. Therefore, the CPI gives a false reading. This is why it did not warn of asset inflation during the housing bubble of 2005.
The “core” CPI, which the Fed uses, does not include food and energy costs.
http://useconomy.about.com/od/economicindicators/p/CPI.htm
‘jimmyjames’ needs to post links verifying his claims also
*************
Pull up a chart of housing prices and the price of oil or uraninium or wheat-
Wheat was trading at 4.39 in 08-- today its trading at 3.47-
So where is this huge loss in $ purchasing power?
http://www.indexmundi.com/commodities/?commodity=wheat&months=300
More disingenuous and flat-out dishonest bullshit.
Are you sure that you don't work for the Fed?
For one thing, taking the short-term price spike in wheat in 2008 as indicative of its overall price in that year is anecdotal and specious cherry-picking at its worst --- just like the ridiculous crap that the gold haters pull when they try to compare the brief price spike in gold in 1980 to its price two or five years later as "proof" that gold is no inflation hedge. It is the price TREND that matters, and the price trend for wheat, as for almost any commodity, has been UP for the last ten years, and more generally, up for the past 80 post-gold-standard years, inevitably mirroring the depreciation of the US dollar (and fiat currencies overall).
For another thing, none of us go to the grocery store and buy wheat; we buy foods MADE from wheat, and THOSE foods are all curiously MUCH higher in price than they were in 2008 --- by a factor of around 50%, from my own experience.
JimmyJames, why are you so determined to make such a complete and utter fool of yourself?
And what was wheat trading for in 2000? Four times less you say?!?!
Get a job, hippy.
http://www.mongabay.com/commodities/price-charts/price-of-wheat.html
Are you fucking mad? Did you intend /sarc in a way that was meant to be hard to interpret?
EVERYTHING we can measure prices for, including what computers are made from, electronics of all sorts, has gone up in FIAT PRICE showing DE-VALUATION of that fiat currency (all of them). It's just LUCKY that some (not all) of us can leverage up the benefits of various cars, bikes, data-phones & computers to MAKE MONEY, somehow. SOME can do no better than play x-box games & send dirty pictures on over-priced iPhones and they are SEEING NO BENEFIT whatsoever from the "more powerful" electronics abilities.
And while OIL may be 90 now vs 150 in 2008 consider where jobs & wages went: now instead of a person having to work twice as hard to get the same gas with diminished wages, many have the extremely good luck to be so broke as to NEVER afford gas & never have to worry about it ever again. Wow, so lucky.
sessinpo, hold paper then if you're too lazy to hold that heavy metal. I double dog dare you!
It's funny and ironic how all the paperbugs and pro-Establishment sheep (not calling you either, sessinpo) love to level the "emotionally attached to their investment" argument against holders of gold, when it is in fact THEY who are implicitly and explicitly, hysterically, idiotically, monomaniacally attached to their investment of choice, government-issued paper promises.
Akak
I love fiat. I want all me debts to be owed in fiat. I know in the long run it will be easier to pay them off as fiat always depreciates. All gold is good for is saving in.
sessinpo said:
In your hypothetical return to a gold standard, you shouldn't, and neither should anyone else placing such complete faith and trust in the honesty and integrity of the US government.
Nevertheless, you are likely to encounter people who don't share that trust. Should you ever wish to engage in commerce with such people, you'd first need to redeem your promise papers for physical gold.
There is not that much to invest looking at the infographic.
And that's just all the physical!!!
DID YOU KNOW THAT ALL THE PAPER GOLD, CAN BE PRINTED ON A PIECE OF PAPER THE SIZE OF A BUSINESS CARD???!!??
YES PAPER GOLD IS THAT RARE!!!!!!
Jeez... next time I throw my gold coins away in the city sewers, I better think twice...
Interesting that the US Treasury portion is worth less than a half trillion $. So 1/32 of our debt.
How come all the ones and zeroes on my computer aren't worth as much as the ones and zeros on the bank's computer?
Them's the rules old chap
Someone has to hold all those assets safe and sound from those criminals now don't they?
So I ask, as I have asked many times before, why isn't gold much, much higher? I hold some PM's and I think everyone should. But considering what has been printed (trillions that we know of and how much do we not know of) and what will likely be printed, why isn't gold over $3k/oz. Logically it should be but it isn't. Is that a message the market is telling people that most are missing?
Message = Terrified
"Is that a message the market is telling people that most are missing?"
what market?
oh, you mean the liebor bunch?
or the soon to default COMEX?
:D
Markets only do the logical as a last resort.
Markets are in disbelief about the devaluation of currencies & legal tender laws FORCE people to stick with currency which by nature removes some immediate-use trade-value of non-fiat currencies.
$10,000 oz. Bitchez !
Of course, this is what is "reported" that the US has. I WANT PROOF DAMMIT!!!!
If the truth ever comes out, that bitch will freefall like WTC 7.
As a side note: platinum within $5 of reaching parody again with gold. Would like to see ZH or SD discuss what this means.
Gold was always $30 less an ounce than platinum.
petty. means nothing. FIAT is worth less and less over time and eventually completely worth less.
It "means nothing"? I was talking about platinum (a PM); not FIAT.
When gold is worth North of $10,000 / oz and platinum is worth $12,000 / oz your $30 difference theory goes out the door.
Just an example.
From my pov this whole debate about the dollar value of the most precious asset is completely irrelevant.
The current paper dollar is just a figment of someone's imagination and will go down in history as just another attempt at creating currency on paper.
Mr. Hudson,
My theory of why Pt has declined against Au: Au is much more easily recognized than Pt. People who handle Au can identify it with their teeth, they are very familiar with Au's appearence and properties. Whereas Pt is another white metal, how does one know (on the street) that it is not Ag, Pd or even a cheeper white metal? And a big draw of Au is avoiding counterparty risk.
So, when an easy assay test for Pt is developed, Pt conversion ratio will again excede Au's. (Freegold NOT withstanding) After all Pt is like 16 times less common than Au in the eath's crust.
Anyway, the USA is toast until they/we PROSECUTE THE WAR CRIMINALS!
For all the catalytic industrial uses for platinum, much more valuable over-all intrinsically than gold scraped & melted into various shapes & mixtures, platinum is far less useful as a coin & far more useful as a powder, wires or already pre-mixed or put into the machines we need it for. So little gold is used in each item that leaves plenty behind for coin-storage format.
Freudian slip? Parody vs. parity? Good for a chuckle...
Ha! Victim of spell check. Freudian indeed - thanks for laugh :-)
Not much of a Freudian slip. Reminds me of a friend though. He overheard the term and turned and asked me what was a Fredian slip. I said, " you know, A slip of the tongue in which something that the speaker was subconsciously thinking about is substituted for the one that he or she meant to say."
He said, " Oh, yeah, I did that myself this morning. I was going to ask my wife to pass the salt, but said You fucking bitch, you've ruined my life".
LMFAO!
Bwuaaaaaahahahhahaaaaaa
winning! Supreme Victory
hahaha! +1
Automobile production up?
"Do you think gold is money?"- RP
"No" -Bernanke
"Why do central banks hold gold? Why don't they hold diamonds?"-RP
" It's tradition" -Bernanke
So is the pathological dishonesty, and generally sociopathic nature, of central banksters.
WoW gold and silver are under-valued.... currency must be in a bubble.
What I want to know is how much gold is lost due to "boating accidents."
Let's ask those who where on Titanic....strange that after that incident.... the economy wen down...
The "Romney sucks," star of the Obamaphone video, lady is on the Alex Jones show today.
What kind of world is this? I'm certain it isn't the result of my imagination.
She's really pretty alright.
What proof is there that the U.S. has 8,133 tonnes of gold?
I hides my gold in my teef
Kind of negates the whole reason for getting a "grill" in the first place.
Wheres the Rothschilds Gold Mountain Image...?
See Gold...
Not just a breakfast drink.