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Nick Barisheff: The Case For (Much) Higher Gold Prices

Tyler Durden's picture





 

Submitted by Adam Taggart via Peak Prosperity blog,

This interview was recorded three weeks ago. We've been unsure of how well-received an interview about "$10,000 gold" would be received while the yellow metal experiences its worst quarter, price-wise, in history. But rather than sit on it any longer, we're releasing it now and will trust our readers to look past the current price of gold and focus on the long-term macro arguments Nick presents. ~ Adam

Nick Barisheff, CEO of Bullion Management Group recently published the provocatively-titled book: $10,000 Gold: Why Gold's Inevitable Rise Is the Investor's Safe Haven. In this week's podcast, Chris sits down with Nick to learn the math behind this forecast.

I was reluctant to put up a number and a timeframe. And when I say $10,000 gold, I do not mean this year, or even next year. It is probably a plus or minus five years scenario. What changed my mind was in 2011, when in the U.S. there was the raging debate over the debt ceiling.

 

You could see that there was no political will or ability to ever change [the United States' debt crisis], because it is impossible to either increase taxes or cut expenditures enough to really make a difference. You are not going to grow your way out of it. Nobody is predicting that that is going to happen.

 

So the only choice left is essentially, in simplified terms, to call it printing. When you look at that, then what you get is that the printing is going to continue, the deficits are going to continue, and, in fact, they are going to increase. And the interesting point is that if you plot U.S. debt versus the gold price, you almost get perfect correlation. So this is just a straight progression. Like, if you keep printing at the rate you are printing, you are going to get to $10,000. $10,000 is by no means the peak, and people have trouble coming to grips with $10,000. But if you hit $10,000, then we are into hyperinflation, and the numbers after that will sound absurd.

In making his price prediction, Nick also takes a historical view of the perfect record of failure of paper-based currencies:

Throughout all of history, there has never been a single instance where a fiat currency did not end in hyperinflation and complete collapse. There is not one example of a successful fiat currency. Because the simple thing is that if you give a printing press, in simplified terms, to a politician, a king, an emperor, a president, a prime minister, you name it, they will overuse it every single time. That is just human nature. And that is what happens.

 

It is particularly a deficiency in democracy, because democracy will also always have people vote themselves a bunch of benefits that the politicians promise to get elected. And that is how you get this spiral effect that keeps going. So the end result is the same.

This time around, though, we are in unchartered territory, because you have got global fiat currencies and you have got a global reserve currency. So unlike hyperinflations in the past like, everybody knows about Germany, it was restricted to a country this time it is going to be global.

 

In terms of the short term, there is probably no other choice but to print more, because if the Fed pulled back in its quantitative easing, we would have a massive depression. So for the moment, you print more. But the problem is, what happens down the road?

Click the play button below to listen to Chris' interview with Nick Barisheff (39m:49s):

 


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Mon, 07/01/2013 - 23:41 | Link to Comment Midasking
Midasking's picture

Get ready for the biggest gold rush in history!!!! http://tinyurl.com/pp588mj

Tue, 07/02/2013 - 00:00 | Link to Comment Zoran
Zoran's picture

Maybe, maybe not.

 

These charts show movements in the gold price vs a classic 'asset bubble pattern.....

 

The Gold Bubble is Just Getting Started!

 

Lets hope so anyway.

Tue, 07/02/2013 - 00:08 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I had to buy the book in Canada, could not find it here (but to be fair, Barnes & Noble said they could order it for me).  Anyway, I read his book while there and discuss it:

http://tinyurl.com/lwcmwoy

Tue, 07/02/2013 - 00:40 | Link to Comment The Juggernaut
The Juggernaut's picture

Tyler,

Please blow-up that ladder of tyrannical countries that have come and gone. I'd like to see how much time the new tyrants have left.

Thanks,
The Juggernaut

Tue, 07/02/2013 - 07:06 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Fire alert at CNBC......all hands on deck!

Tue, 07/02/2013 - 23:12 | Link to Comment All Risk No Reward
All Risk No Reward's picture

>>Throughout all of history, there has never been a single instance where a fiat currency did not end in hyperinflation and complete collapse. There is not one example of a successful fiat currency. Because the simple thing is that if you give a printing press, in simplified terms, to a politician, a king, an emperor, a president, a prime minister, you name it, they will overuse it every single time. That is just human nature. And that is what happens.<<

So Nick, you list 5 positions that you believe control the "printing press" and you are 0 for 5.

The international banking cartel controls the issuance of debt - which is our money supply.  They issue debt, they don't "print money."

While I agree serious inflation is almost assuredly the end game, I have a few questions that people with Nick's view can't seem to formulate, let alone answer in a rational manner.

1. Why are the front corporations lending for 30 years at 4% ahead of this hyperinflation that they will allegedly create any month now?

2. Why would the people who broke the law (Section 2A, Federal Reserve Act) to blow the world's largest bubble of any kind turn around and bail out a debt saturated world with serious inflation?

3. Why would people who control trillions in debt paper hyperinflate prior to busting the debtors and seizing their collateral?

4. Why would people who control trillions in cash hyperinflate their trillions in cash away before buying up hard assets, preferrably for pennies on the dollar?

5. When has a supranational international banking cartel ever hyperinflated away their debt monetary system for the benefit of a subservient government or its people?

Has anyone considered that Weimar was a deflation in terms of the international banking cartel?  So was the Argentinian collapse.  Stop thinking like a face ripped Muppet and start thinking like a criminal financial oligarch.

Folks, the international banking cartel controls the issuance of debt money.  Period.  Anyone who thinks they are going to hyperinflate away their wealth to the benefit of society in general has NO IDEA how the world works.  They are literally DELUSIONAL.

My belief is simply that most people who believe this have never THOUGHT about it logically.  They repeat what they've heard from Rockefeller funded Mises or the alternate media influenced by same.

The incentive for the owners of the TBTF&Jail front corporations is to bust their competition so that TBTF&Jail are the only ones left standing.  The goal is to rule the world and busting it would do that for them.

The first thing anyone should do is secure control over the necesseties of life.  This includes food, water, shelter and protection and should occur within a good community of relatively like minded folks that can work together.  This includes skills as well.

The second thing anyone should do is make sure that their first item on the list is rock solid.

The third thing to do is make sure that you limit the middlemen between you and your stuff - especially financial stuff.  Cash on hand is good, but too much is risky.  People can choose to put the bulk of their cash into Treasury Direct (short term bill, roll over into cash account, government is your "mattress").  Don't leave it there too long as that will likely get confiscated after the banks blow up and depositors are wiped out.

Money is debt - and that fact is not properly understood by many.  One under the currency can't "lose confidence" in the currency because that's the same as "losing confidence" in your mortgage, car note, credit cards, government debt, etc...

The owners of the mega banks aren't stupid, which is why they run the world and almost nobody understands this.  America IS NOT sovereign.  The tooth fairy IS NOT real.  Neither is Santa Claus.  The President isn't running the show., he's a puppet who agrees to fool the population.

Read Art of War and The Prince.  I guarantee you the banking oligarchs have, because they are waging Machiavellian Art of War 2.0 on us and we have to elevate our game.

Getr control over the necessities of life.

If you want to play a jump in gold, I recommend listening to Gary K. at Investor's Edge.  He's looking for a good entry into gold for a big play, which I doubt pans out.  But I didn't see the market where it is at now, so it could happen.  If it does, Gary K. will be in it.  If it doesn't, Gary K. will be out of the market and not eating losses.  Plus his football picks against the spread are phenomenal - like 2-1 over the two years I listened almost daily.

http://www.businesstalkradio.net/weekday_host/Archives/gk.shtml

Gary leads off on gold on today's show...

http://archives.warpradio.com/btr/InvestorsEdge/070218.mp3

If you have massive resources and are trying to conserve some for the "other side," dollar cost averaging into gold makes sense.  But be sure there are no middlemen and you can defend it - even from a rogue bankster controlled government.

---------------------------

“If all bank loans were paid, no one would have a bank deposit, and there would not be a dollar of currency or coin in circulation.

This is a staggering thought. We are completely dependent on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money, we are prosperous; if not, we starve. We are absolutely without a permanent monetary system.

When one gets a complete grasp upon this picture, the tragic absurdity of our helpless position is almost incredible–but there it is.”
? Robert H. Hemphill

“When a government is dependent upon bankers for money, they and not the leaders of the government control the situation, since the hand that gives is above the hand that takes. Money has no motherland; financiers are without patriotism and without decency; their sole object is gain.”
? Napoleon Bonaparte

Capiche?
Mon, 07/01/2013 - 23:42 | Link to Comment Flakmeister
Flakmeister's picture

Yawn....

Seriously, wake me when gold hits $1900...

And I have been stackin' for a long fuckin' time...

Tue, 07/02/2013 - 00:24 | Link to Comment RockyRacoon
RockyRacoon's picture

Yup.  Flogging the $10K gold horse is not going to make the old nag arrive any faster.  I get pretty tired of the "price" of gold debate.  At $10K I fear much more than how I'm gonna spend my new found wealth.  With bread at $50 a loaf it won't be much consolation.  All the same, to me the price of bread will not have effectively changed -- if you can find any.

Tue, 07/02/2013 - 00:38 | Link to Comment IMACOINNUT
IMACOINNUT's picture

buy a bread maker, no not a wife/baker a machine to do the work and some ingredients and sit back. with a whole lot of other supplies, until the system gets back on line.

Tue, 07/02/2013 - 07:08 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Wake me up when they stop with the global warming BS and my gas goes back to $1.80 a gallon.

 

Yes.....I did just freakin say that.

Tue, 07/02/2013 - 07:34 | Link to Comment Flagit
Flagit's picture

until the system gets back on line.

you mean, like the power to come back online...for your bread maker?

Tue, 07/02/2013 - 07:46 | Link to Comment francis_sawyer
francis_sawyer's picture

Dumbest ass idea ever [buying a breadmaker]...

~~~

There are about 1000 different ways to make bread... A breadmaker [besides needing power], offers you very few of these options...

Tue, 07/02/2013 - 10:08 | Link to Comment Croesus
Croesus's picture

Build a a brick oven in the backyard, and buy flour, yeast, herbs/spices.

You will get a product that is FAR superior to ANYTHING you will get in a store.

Signed,

Croesus the Hobby Baker.

 

P.S. - The "Price of Gold" is irrelevant, to me. At the end of the day, it only matters whether or not you have it.

Tue, 07/02/2013 - 11:45 | Link to Comment Thin_Ice
Thin_Ice's picture

Dutch Ovens work well for bread making too. Here's a few alternatives as well...

 

http://www.preparedpantry.com/downloads/Emergency_Bread_Guide.pdf

Tue, 07/02/2013 - 12:53 | Link to Comment Croesus
Croesus's picture

@ Thin Ice:

Great Share, thank you Sir!

 

Tue, 07/02/2013 - 15:28 | Link to Comment Thin_Ice
Thin_Ice's picture

You are quite welcome, glad you like.

Tue, 07/02/2013 - 07:53 | Link to Comment Crash N. Burn
Crash N. Burn's picture

Flogging the $10K gold horse is not going to make the old nag arrive any faster.  I get pretty tired of the "price" of gold debate.

 

Agreed, pricing gold/silver in fiat is their game. Supply and demand, not so much:

"bullion-buyers in London must now wait more than 100 days to take delivery of the bullion for which they have already paid.

The comedic drones at Bloomberg, and officials of the London Metal Exchange itself would have us believe this is due to “warehouse queues.” While precious metals bulls undoubtedly appreciate the imagery implied of a 100-day line-up of armored cars waiting to load their bullion – in the middle of this “bear market” – the implication is fallacious....

In an era of just-in-time inventories; the notion that there can be a 100-day backlog to load bullion into armored cars with the metal already sitting in the warehouse is ludicrous. Clearly what the LME is really reporting here is a greater-than-three-month delay to refine the gold (or silver) being purchased here – and then ship it to their warehouse.

In other words, the “bullion” which traders believe they are purchasing today is in fact merely ore which hasn’t even been dug out of the ground yet."

Fraud Confirmed: 100-Day Delay To Take Bullion Delivery In London

Tue, 07/02/2013 - 08:27 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

crash, 100 days wait for london gold, Germany just went ape shit they get the 7 year deal, but no one questions this but gold bugs..there is no gold in safe keeping by banks and .gov, seems a good explanation, anyone got another reason for delays?? lets hear em.

Tue, 07/02/2013 - 08:53 | Link to Comment BoNeSxxx
BoNeSxxx's picture

Their dog ate it?

Tue, 07/02/2013 - 09:01 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

their dog ate it, mon dieu non, the dingo ate the baby.

Tue, 07/02/2013 - 09:17 | Link to Comment Crash N. Burn
Crash N. Burn's picture

Their dog ate it?

 

 A "dog" was involved:

"Indian bullion-buyers are notoriously price-conscious. So the recent, unprecedented rape committed in the paper-gold and paper-silver markets has been nothing less than a dinner-bell “chime” for Pavlov’s Dogs.

Gold and silver on sale…at (literally) once-in-a-lifetime-prices."

 

Gold-Squeeze In India Stokes Silver Demand

Tue, 07/02/2013 - 10:14 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

"At $10K I fear much more than how I'm gonna spend my new found wealth.  With bread at $50 a loaf it won't be much consolation."

How do you know that bread will be $50 a loaf at $10K gold?  In the run-up from $300/oz to $1900/oz, did the price of bread go up 633%?  Did the price of anything go up that high?  

There is a relatively weak correlation between the price of gold and price inflation in other goods (as many gold bears accurately point out).  If the USD went to gold backing at, say, $100K/oz, I don't think this would actually cause price inflation in other goods; it would simply set a grounding mechanism for the dollar to something of tangible value.  The argument that gold would be an inefficient grounding mechanism due to there being "not enough of it" are ignoring the fact that the USD could be arbitrarily set to any number as an exchange for an ounce of gold.  

Tue, 07/02/2013 - 13:52 | Link to Comment RockyRacoon
RockyRacoon's picture

I pulled the $50 number outta a very dark and uninviting place.  It was to make a point only.

You are correct that the "price" of gold will be based upon one's acquiring the scarce metal with fiat dollars, not much upon the relation to the "price" of anything else.   One does find, however, that the two move in tandem.  The degree of correlation varies.  There is always enough gold, as you say.  If you stop any random number of people at your local mall and ask them why they are not buying gold hand over fist you'll get the same answer: "It's too expensive."   That was the case in any given year... period, no matter what the price was.

Wed, 07/03/2013 - 02:58 | Link to Comment All Risk No Reward
All Risk No Reward's picture

You just explained why the majority move in gold IS NOT dollar devluation.

So, what is it?

The majority input is speculation.

Mon, 07/01/2013 - 23:46 | Link to Comment Rimon
Rimon's picture

Seriously, the guy works for Bullion Management - so pitching gold is directly correlatted to his business model..

There is no analysis here just: printing *foaming at the mouth*, fiat currency *foaming somre more* = gold going to badjillion dollars!

QED

 

what a joke

Tue, 07/02/2013 - 06:45 | Link to Comment Freegold
Freegold's picture

Here's my analysis: By gold now for dollars you don't need until retirement. Until retirement dream of all those dollars fed to the rest of the world for decades.

It's going to be a golden retirement cos this dollarbubble sure as hell wont last that long.

Tue, 07/02/2013 - 06:56 | Link to Comment Ghordius
Ghordius's picture

"dollars you don't need", aka savings - I'd only balk at the advice of putting all your eggs in the same basket - gold has this "evil" propensity of slipping off weak hands

Tue, 07/02/2013 - 08:29 | Link to Comment ATM
ATM's picture

Gold is going to be repriced. It may not be repriced before or during my retirement. I don't have the chrystal ball that tells me when it  will hapen but I beleive it will happen in the next 20 yrs. I may not be alive then but the family knows that they aren't to sell any gold that wasn't lost in the accident until they know it is the right time.

It will be the right time at some point.

Tue, 07/02/2013 - 07:46 | Link to Comment BullionTweet
BullionTweet's picture

Sad to see such a comment from someone who has very obviously not taken the time to become informed by reading Nick Barisheff's new book first. Do your homework and contribute something useful.

Tue, 07/02/2013 - 08:18 | Link to Comment HulkHogan
HulkHogan's picture

You're obviously Nick Barisheff.  Fucking metal dealers.

Mon, 07/01/2013 - 23:57 | Link to Comment SqueekyFromm
SqueekyFromm's picture

Optimism is such a HAPPY thing!!!

http://www.youtube.com/watch?v=qAZqkQvopL0

(OH, am I a sarcastic bitch or what???)

Squeeky Fromm, Girl Reporter

Tue, 07/02/2013 - 00:02 | Link to Comment kito
kito's picture

Sqeeky what's your deal here? I may not agree that gold is the panacea like many on here....but one thing that I have in common with the pro-gold group on zh is how fucked our financial system and country is due to the brazen manipulation and collusion by those pulling the strings......and for that reason alone I stand with the vast majority of members here.....Wtf do you stand for except for being a thorn in the side of people on zh who are fed up with the direction of the country and feel gold plays an important role in protecting themselves from their perceived endgame....your posts are obnoxious and quite frankly counterproductive......I've been here over two years and your inane anti gold poems are all that we see....what draws you here?????

Tue, 07/02/2013 - 00:09 | Link to Comment Bay of Pigs
Bay of Pigs's picture

That's a good question kito.

 

Tue, 07/02/2013 - 00:12 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

First + 1, Bay!

Tue, 07/02/2013 - 00:11 | Link to Comment SqueekyFromm
SqueekyFromm's picture

That's easy! Helping to keep some poor schmuck from buying gold under the nonsensical belief that it is going to $10,000. And, because I love the ploppy sound that bull poop makes when you stomp on it with both feet!!!

I think that a person can be fed up with things without resorting to matching tennies, swallowing funky koolaid, and then laying down to wait on the Mother Ship. Because really, how much good are you going to accomplish when you conflate:

"Our current system and TPTB suck!"

with

"Buy some gold (that's going to $10,000!!!) as your way of resisting TPTB!"

I mean really, why don't you just advocate some self-immolation or something. That way at least the familes will have some fiat left to go bury the ashes.

Squeeky Fromm, Girl Reporter

Tue, 07/02/2013 - 00:21 | Link to Comment RockyRacoon
RockyRacoon's picture

Your concern for our well-being is greatly appreciated.  Without your insightful work I might have been drawn into buying some of that barbarous metal -- wasting my fortunes in the process.  Thank you so much for your invaluable guidance!

Now, excuse me while I go puke.

Tue, 07/02/2013 - 07:43 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Who gets the burly beef......and who gets the bitch smackdown?

Tue, 07/02/2013 - 00:21 | Link to Comment kito
kito's picture

Your ostensible altruistic motives are disingenuous.....the tone of your posts prove that........you still havent given us your take on the direction of the system and what a person should be doing to protect themselves.....you resemble the classic mudslinging lower realm politician who attacks but never offers his or her own solution to the ills of the world.......

Tue, 07/02/2013 - 00:28 | Link to Comment IridiumRebel
IridiumRebel's picture

What he said.....^^

Tue, 07/02/2013 - 00:58 | Link to Comment chindit13
chindit13's picture

Squeeky is no more "altruistic" than all the clowns paraded out increasingly regularly on ZH who are willing to sell us something for $1250 fiat that is 'probably' going to $10,000 in five years or so.  If this latest gold shill is correct, then I wonder where he thinks he can beat his own prediction of a compounded 51% yearly return?  Why doesn't he just clutch his shiny and wait for the collapse instead of trying to 'help' us all out in exchange for our worthless fiat?

This Barisheff shill chants the old line about "there has never been a single instance where a fiat currency did not end in hyperinflation and complete collapse".  That overlooks the 180 forms of fiat currently in use and accepted with pleasure by most of the 7 billion souls walking this Earth.  Yes, eventually all those fiats will go by the wayside, but one could make the same argument for the folks using it.  There has never been a single instance where a human life did not end in death, but we all try to make hay while the sun shines (on us).

Anyone over the age of ten can remember these exact same arguments being championed by Nelson Bunker Hunt and his followers back in 1980.  He beat the dollar to the grave, and he saw his sure thing drop 94% from his top tick purchases.  Statements such as $10,000 within five years sound desperate, as if the tumble from $1900 to $1180 might have hurt Barisheff's business.  Maybe Squeeky's function is to provide some balance, because at least on Zerohedge PMs are a very crowded trade, and the constant drumbeat of "any second now conflaguration" has enticed a lot of readers into something that hasn't done them much good up to now.  Sure, we're all adults here, but if people believe the constant drumbeat on the MSM can lead the sheeple astray, then the constant drumbeat on ZH similarly can lead people astray.

Articles like this are just trying to make people feel good about their losses.  Absolutely nothing new is added to the argument, and they are all thinly veiled infomercials.

Tue, 07/02/2013 - 01:13 | Link to Comment IridiumRebel
IridiumRebel's picture

How do I protect my family Chindit13?

For the record, I deeply respect your posts even though they largely counter some of my beliefs in "protection". Gold is not a trade for me. I just want to protect my purchasing power. I have about 15-20% of my savings in PMs and the rest cash with a little in bonds and stawks.

Tue, 07/02/2013 - 01:24 | Link to Comment jimmyjames
jimmyjames's picture

 Maybe Squeeky's function is to provide some balance, because at least on Zerohedge PMs are a very crowded trade,

*******

Yes... all 10,000 of us (high estimate) out of 7 billion souls (your words)

Tue, 07/02/2013 - 06:56 | Link to Comment bunnyswanson
bunnyswanson's picture

We're barely able to pay the overhead.  Though most probably, if I had the money, I'd certainly be the highest buyer of you all.  My investments once made it possible for me to leave a bad marriage.  For now, I have to sit on the sidelines and applaud.

Tue, 07/02/2013 - 05:51 | Link to Comment buyingsterling
buyingsterling's picture

Something new is added here. The point is driven home that this cycle is another cycle characterized by certainty, in spades: Everything is utterly broken except for PMs - the political and financial systems will not be reformed, hence $10k gold is a certainty. And the lack of reform will insure that $10k gold arrives sooner rather than later. As in Zimbabwe, gold will eventually go to infinity because this fiat currency, like all others, was born to die. $10k is just a stop along that road, and gold's purchasing power will still be potent at $10k. Bread will be $5-$10 a loaf, not $50. If bread is $50, gold will be $50k because we'll be at the end game.

Tue, 07/02/2013 - 08:24 | Link to Comment HulkHogan
HulkHogan's picture

From where I sit, bread is close to $5 a loaf. Where's your $10K gold at?

Tue, 07/02/2013 - 10:28 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

That's some fancy bread you're eating there, Hulk.  Which is fine, but "bunny bread" still costs $1.50 at Kroger.

Tue, 07/02/2013 - 13:54 | Link to Comment RockyRacoon
RockyRacoon's picture

That's not "bread".   It's a concoction of chemicals and a bit o' bleached flour thrown in for color.

Tue, 07/02/2013 - 14:00 | Link to Comment BooMushroom
BooMushroom's picture

A loaf of sourdough is pushing $4 for sure. Check your bread for cellulose (aka sawdust) or other fillers. Look for baking powder: if they're using it, it means they aren't giving the yeast enough time to rise properly, making it cheaper for them, and less wholesome for you. They probably use a bunch of other fillers, HFCS, and a couple chemical stabilizers.

It's the difference between mozzarella and "pasteurized process cheese food."

Tue, 07/02/2013 - 10:34 | Link to Comment Panafrican Funk...
Panafrican Funktron Robot's picture

I agree with what you're getting at chindit, it's important to know that large spikes in the USD price of gold is one possibility among many.  Some common sense wisdom to consider when deciding how to protect the excess wealth from your productive labor:

1.  You can't predict the future.

2.  Don't put all your eggs in one basket.

It's really strange how many people (yours truly included) manage to fuck up due to not following these two simple points.  

Tue, 07/02/2013 - 06:15 | Link to Comment negative rates
negative rates's picture

You speak as if there is a logical solution to the problem. There aint.

Tue, 07/02/2013 - 00:23 | Link to Comment Tinky
Tinky's picture

Moronic. It's as if you want to be the poster child for the "This time it's different!" crowd.

Setting aside any specific price targets, the fact remains that gold has been a consistently impressive store of value during historical periods when fiat currencies have been badly debased. So, here we are in the final stages of the greatest debt supercycle in history, with the Fed (and JCB, etc.) creating huge amounts of money/credit at an absurdly fast past, with no end in sight, and you are mocking those who anticipate a significant rise in the value of gold?

Please. 

Tue, 07/02/2013 - 01:06 | Link to Comment SqueekyFromm
SqueekyFromm's picture

Oh Tinky, what you said is sooo funny!

"Setting aside any specific price targets, the fact remains that gold has been a consistently impressive store of value. . ."

which means, if gold was a football team:

"As long as you don't measure our performance in terms of points scored, or wins vs. losses, then we are a great team!!!"

Sure. Rah! The sad thing is that so many Gold Bugs buy into that silliness.

Squeeky Fromm, Girl Reporter

 

Tue, 07/02/2013 - 01:11 | Link to Comment RockyRacoon
RockyRacoon's picture

You are likely just overcompensating for being fat, ugly, or both.  Good luck with that.

Tue, 07/02/2013 - 01:14 | Link to Comment Tinky
Tinky's picture

Be sure to check back in when you are able to muster a substantial reply to my straightforward assertions, as opposed to nonsense based on intentional distortions.

Tue, 07/02/2013 - 06:24 | Link to Comment CCanuck
CCanuck's picture

Loopy Cunt

Tue, 07/02/2013 - 06:51 | Link to Comment bunnyswanson
bunnyswanson's picture

As a bartering tool, you could not go wrong with gold.  International Monetary Fund accepts gold as payment from member nations.  Currencies collapse.  In view of the apparent and seemingly intentional recklessness or incompetence of the team of highly-paid experits in place to maintain a stable economy, in nearly ever nation (if you can believe that), it is wise to have possessions which could be used to trade or bribe your way through another day. 

In the scheme of things, in the big picture, it would seem the concern would be whether one could maintain the freedom to move about in a collapsing society, as it is redeveloped, redistricted, refinanced right into the hands of a global banking cartel who knows exactly what they are doing.  Transfer of wealth is clear.  Centralized govt.  Security measures that go beyond the call of duty and right into voyerism.  Wealth saved some from the fate at the end of the link below.  Buying time, keeping the family safe one more day.  You have a weak presentation considering you're attempting to dismiss a logical approach to a man in a country with a currency in which is saturating the market (or will be soon) with a medium of exchange that can be counted on.

http://faqholocaust.wikispaces.com/how+do+concentration+camps+differ+from+extermination+camps%3F

Tue, 07/02/2013 - 08:44 | Link to Comment tarsubil
tarsubil's picture

'"As long as you don't measure our performance in terms of points scored, or wins vs. losses, then we are a great team!!!"'

That's interesting because it is often better to judge a team by its roster and not win/losses or points. The LA Kings (hockey team) were an 8th seed in the west last year and ended up winning the Cup in impressive fashion. Squeeky little girls like you probably shouldn't talk about sports though. Nor should you talk about gold and the monetary system either.

BTW, what was your relationship with your father like?

Tue, 07/02/2013 - 00:26 | Link to Comment IridiumRebel
IridiumRebel's picture

How do I protect my family Squeaky?

Tue, 07/02/2013 - 02:37 | Link to Comment akak
akak's picture

I have heard it said that the Squeaky wheel gets greased.

Would that it were so.

Tue, 07/02/2013 - 07:43 | Link to Comment Flagit
Flagit's picture

How do I protect my family Squeaky?

Rally round tha family!

http://www.youtube.com/watch?v=my6bfA14vMQ

Tue, 07/02/2013 - 01:08 | Link to Comment Jam Akin
Jam Akin's picture


What should we expect from a member of the Manson family?

Tue, 07/02/2013 - 01:10 | Link to Comment deKevelioc
deKevelioc's picture

A sound currency breeds sound morals; it's more than just a bunch of guys getting rich from a collpased monetary system.

Tue, 07/02/2013 - 06:25 | Link to Comment CCanuck
CCanuck's picture

Squeeky Loopy Cunt

Tue, 07/02/2013 - 06:50 | Link to Comment SAT 800
SAT 800's picture

What are you going to be when you grow up, Squeeky?

Tue, 07/02/2013 - 07:50 | Link to Comment francis_sawyer
francis_sawyer's picture

<an electric breadmaker>

Tue, 07/02/2013 - 08:04 | Link to Comment PhilofOz
PhilofOz's picture

She's been jilted by a goldbug. Nothing else could explain such obsessive behaviour.

Tue, 07/02/2013 - 08:31 | Link to Comment ATM
ATM's picture

I am sure she is a paid .gov troll funded by those who actually work to be their own nemesis.

Tue, 07/02/2013 - 00:10 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

I'm happy, Squeeky!  And I hope you are too!

Mon, 07/01/2013 - 23:56 | Link to Comment moonstears
moonstears's picture

I say only $5000, then  "15000 neo dollars", then back to "1000 renter credits".

The interesting news is Soros will likely be dead when this happens, Rockingfellow, Buffet, too.

Sure hope you boys read this, and think on it, you scumfucks.

Mon, 07/01/2013 - 23:52 | Link to Comment Rimon
Rimon's picture

the guy's book is as timely as "Dow 36,000"

Tue, 07/02/2013 - 05:58 | Link to Comment Sudden Debt
Sudden Debt's picture

I'm launching my book next week called: " MAYADOOM 2012... WILL IT BE THE END?"

 

Tue, 07/02/2013 - 07:47 | Link to Comment Flagit
Flagit's picture

preorder?

Tue, 07/02/2013 - 00:13 | Link to Comment tony bonn
tony bonn's picture

"..if the Fed pulled back in its quantitative easing, we would have a massive depression.."

and your point is??

Tue, 07/02/2013 - 08:32 | Link to Comment ATM
ATM's picture

The point is that nomatter the talk about "tapering" or whatever else they want to call it, there will be no end to printing until it is all over.

Tue, 07/02/2013 - 00:20 | Link to Comment IMACOINNUT
IMACOINNUT's picture

just knowning im taking the cash away from the govt teat of stock, bond and bonds just gives me a hard on and listening to squeeky rant on just gives me a rush. god i sure sleep good with my precious, and with the fire sale things just couldn't get any better. when it blows -- god what a rush it will be.

Tue, 07/02/2013 - 07:26 | Link to Comment Being Free
Being Free's picture

I'm just trying to follow the example of our great central bank and carrying gold on my balance sheet (odd isn't it that the controllers of fiat hoard gold)...

now if I could just figure out this "printing fiat" thingy.

Tue, 07/02/2013 - 00:56 | Link to Comment celticgold
celticgold's picture

squeeeeeky ..... i have some lotion for that ...

Tue, 07/02/2013 - 01:00 | Link to Comment Bear
Bear's picture

If we were guided by the Constitution we would have a small government and a big individual and a sound gold-backed dollar ... we would rule the world economically for generations

Tue, 07/02/2013 - 05:20 | Link to Comment Anton LaVey
Anton LaVey's picture

Ah, yes, the old argument of the perfection of the US Constitution.

Listen, your Constitution is just a piece of paper. It allowed some of your people to own other human beings as slaves, for instance, an idea the vast majority of humanity finds abhorrent in the XXIst century.

It was so perfect from the start that it was amended almost immediately - a mere twelve months after its adoption as a matter of fact.

All of this to say that your Constitution, in and out of itself, is not perfect and does not guarantee a perfect "society". Every generation has to fight for its rights - and "fighting" can mean anything from protecting to actual "tree of liberty being fed the blood of tyrants and patriots" kind of fight. This (fight) is only beginning.

Tue, 07/02/2013 - 08:34 | Link to Comment ATM
ATM's picture

And yet the Constitution does not allow for the holding of slaves today. So what's your point? No one said it was perfect. But if you can point me to a better design for a government I'm all ears.

 

Tue, 07/02/2013 - 01:09 | Link to Comment RideTheWalrus
RideTheWalrus's picture

How many social credits will it buy on my e-verify RFID chip implant?

 

Tue, 07/02/2013 - 01:12 | Link to Comment savagegoose
savagegoose's picture

yeah where the fuk is 1700, like i last paid. 

 

Tue, 07/02/2013 - 01:24 | Link to Comment Bear
Bear's picture

Yeah, but if it goes to $10,000, 1,700 will be real cheap .... just call me Pollyana

Tue, 07/02/2013 - 08:05 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

yeah where the fuk is 1700, like i last paid.

 

Wouldn't know. The last I paid was $700. Still kicking myself for not buying more at $273.

Tue, 07/02/2013 - 07:49 | Link to Comment Flagit
Flagit's picture

still stings, dont it.

Tue, 07/02/2013 - 02:12 | Link to Comment Debugas
Debugas's picture

there are rumors a german euro is coming soon

Tue, 07/02/2013 - 08:36 | Link to Comment ATM
ATM's picture

Ain't going to happen. The goal in Europe is to Federalize. That's always been the goal.

Tue, 07/02/2013 - 13:52 | Link to Comment bluskyes
bluskyes's picture

I thought each nation printed it's own Euros already.

Tue, 07/02/2013 - 02:35 | Link to Comment toadold
toadold's picture

Hmmm, when would you sell gold, when it hits $2000, $2500, or would one base it on a price point alone.  If there was a cessation or reduction of printing and the price stayed consisten for a year? 

Inflation occrs whether a country has a PM backed currency or no, but it is usually a more gradual thing than when a currency is not using fiat. 

The bad news is that politicians have no better morals or memories than the general populace, so in modern times, dating from the 16th century, governments will try fiat then everything goes to heck then they go back to PM backed money until they forget rinse and repeat.  

In my own opinion things will got to heck before gold will hit $10,000, people will be essence to poor to make a market for it at that price.  To me gold is like a firearm, whiskey, and extra blood pressure medication. Better to have it and not need it than need it and not have it. 

Tue, 07/02/2013 - 03:22 | Link to Comment meizu
meizu's picture

$10,000 soon?  This tells me gold price will go nowhere for years.

Tue, 07/02/2013 - 04:14 | Link to Comment Sudden Debt
Sudden Debt's picture

I'm affraid you're right. Those guys all sound the same. Broken clocks.

 

Tue, 07/02/2013 - 06:58 | Link to Comment SAT 800
SAT 800's picture

So what? you don't need to listen to them. think for yourself. how many fiat currencies survived? zero. how many times has the whole world been on a fiat standard with no redeemability? zero. This is a good buying point for Silver right now. You have to stop paying attention to "news" and peoples opinions. peoples opinions aren't worth shit. facts are. The dollar has devalued over 90% in the last 100 years. this process is not stopping, it's accelerating. you'll live long enough to do very well from your silver. just don't obsess about it.

Tue, 07/02/2013 - 05:03 | Link to Comment Anton LaVey
Anton LaVey's picture

Maybe.

Then again, think of it this way: Gold is insurance. No matter how bad the circumstances, it will never go down to zero ("Mad Max" scenario excepted). You don't complain about the price (or the cost) of insurance. You buy insurance

And: take a look at the long-term trend... it has been going up for almost 13 years now, and it was due for a correction IMHO. By the way, even with the recent drop in price, I am still making a very decent profit, and I am certainly not the only one!

Also: all the large banks are now long Gold. They used to be short Gold. Do they know something we don't?

And how come Russia, China and India started buying Gold like crazy if the price was going nowhere? Do they know something we don't?

Sure, predictions that Gold is going to US$10,000 are probably over the top - but given the amount of printing going on around the world, and the crushing indebtness (or insolvency) of most banks and governments, is it really dumb to buy insurance (= Gold) any chance you get?

Tue, 07/02/2013 - 07:38 | Link to Comment grid-b-gone
grid-b-gone's picture

It's all about insurance and shielding one's family from the eventual wind-down of printing. And by wind-down, I give a nod to the possibility it could be a reset, collapse, or fiat rejection.

As with insurance, I'm looking at the expenditure as a sunk cost, just as I do my paid-off house. It doesn't matter what I originally paid for it or what it is worth today. It is needed and I'm glad I am done paying for it.

As with fiat, it does not matter how much you have, but it does matter how much you have relative to everyone else. There is enough silver for everyone in the world to have one ounce. Compared to much of the world that makes $2 per day, 100 Morgan dollars for about $3K is a nice start that immediately puts you in the top few percent of preparedness. This is something you can start today and complete over time without standing in a long line or competing with panicked buyers. Compared to that 52" LED big screen you've been eyeing, maybe the TV can wait. If gold gets down to $1,100 like the charts indicate it might in coming months, pick up a little. 

Don't go crazy. If this plays out like it did only 75 years ago, confiscation will be an issue.

For anyone who is not a gold/PM "bug", pay off some debt. That gives you an immediate, sure payback rather than tying up cash for events that even many "bugs" agree may still be some years off.

This is all about owning and preserving as a response to over-printing. This is about the little guy holding dear and real things safe in a super-leveraged world.

As with any insurance, don't go crazy. Insurance is a portion of a budget. Most of your budget should still go into living for today. 

Tue, 07/02/2013 - 12:49 | Link to Comment jimmytorpedo
jimmytorpedo's picture

I love PM's. (I consider lead to be precious as well)

I also have other insurance.

455 acres, herd of cattle, too many horses, lots of chickens, 5 tractors, 5 dogs, one wife.

The wife isn't exactly insurance, but she sure isn't a liability.

Pear and apple trees and a lot of copper tubing if you know what I mean.

Lots of tobacco seeds.

Bring this shit on already.

Tue, 07/02/2013 - 13:50 | Link to Comment bluskyes
bluskyes's picture

Any plans if diesel becomes unavailable?

Tue, 07/02/2013 - 14:12 | Link to Comment Harbanger
Harbanger's picture

Didn't he say he has too many horses?  I say we all take our preps to jimmystorpedos land, call it the new capital and expand our territory from there.  :)

Tue, 07/02/2013 - 17:40 | Link to Comment bluskyes
bluskyes's picture

+1

I have always understood 1 horse to be too many :)

In the 30's many used gasification to fuel autos, and tractors with carbon monoxide. This is what I was curious about.

Tue, 07/02/2013 - 03:26 | Link to Comment WTFUD
WTFUD's picture

betcha squeeky's a squealer! squeal on this sqeeky!!

The renegotiations of all those mining contracts ( gold in particular) between governments in africa and the canadian, european and chinese companies is underway in many countries.
Production is falling/stagnant at the majority of existing mines with much greater investment required for newer lower grade mines. Last and not least security and rising wage demands are sending costs of production soaring.
Any disinformed fool looking at the price of gold to remain on its recent manipulated downward spiral is a bankers troll.
Much the same can be said for silver!
Keep stacking Z/H'rs.

Tue, 07/02/2013 - 03:48 | Link to Comment Investor-1
Investor-1's picture

$10,000? Who knows. Even if it is half that, it means that the current goldprice and silverprice are a bargain!!

Tue, 07/02/2013 - 04:11 | Link to Comment Sudden Debt
Sudden Debt's picture

I know all there is to know about gold and silver. I'll sell you all my silver when it ever hits 100$ and I'll even explain you why you should buy it and why one day it will ever go to 400$.

I just don't know if we'll still be alive in that decade.

Wasn't it John Maynard Keynes who said that : In the long run, we’re all dead.

 

Tue, 07/02/2013 - 08:01 | Link to Comment grid-b-gone
grid-b-gone's picture

The one thing he got right and anectdotally confirmed.

Tue, 07/02/2013 - 04:11 | Link to Comment ...out of space
...out of space's picture

hmm.. but if we hit 10000 $ and we se clear hyperinflation sings who will actual sell gold for that price. just who the fuck in zimbabve who have gold in hyper time sell for a fiat? and if/when dollar fall everything falls together. so we even cant predict price in fiat.

good to know fundamental for sound money but predict price is..

keep stack 

Tue, 07/02/2013 - 04:17 | Link to Comment Sudden Debt
Sudden Debt's picture

And to who do you sell a coin for 10K cash? Who will have that cash? And I have a shitload more than 1 coin :)

I call bullshit. And I'm a silverSUPERbug

 

Tue, 07/02/2013 - 05:06 | Link to Comment Anton LaVey
Anton LaVey's picture

The answer to this is simple: you don't "sell" the (Gold/Silver) coin for cash.

You use it to BUY other things.

During the German hyper-inflation of the 1920s, you could buy an entire city block - in a nice neighbourhood - for a single Gold coin.

Think about this for a minute.

Tue, 07/02/2013 - 05:55 | Link to Comment Sudden Debt
Sudden Debt's picture

But... I don't want a city block... at least not in Germany....

 

YOU CAN BUY 3 HOUSES IN DETROIT FOR A OUNCE OF GOLD! GUESS WHAT! I DON'T WANT THEM.

Tue, 07/02/2013 - 07:02 | Link to Comment SAT 800
SAT 800's picture

Switch to De-Caf. and have a nice waffle. you'll feel better.

Tue, 07/02/2013 - 08:02 | Link to Comment grid-b-gone
grid-b-gone's picture

Read or pick up the DVD of Pearl Buck's The Good Earth. The economics of 5 years ago took a back seat to human nature when austerity was rejected in Europe and the U.S. became consumed with wasting any amount of money to avoid negative GDP.

If the Obama administration were in God's position, we'd only inhale and the tide would only come in. They cite Bernanke's mathematical formulas as to why the ebb and flow (they got the flow) of natural forces can be managed - and they are wrong.

Tue, 07/02/2013 - 13:48 | Link to Comment bluskyes
bluskyes's picture

Then in the 30's your former neighbors grew jealous, and reported you. Then you got placed on a cattle car, and shipped to a slave labour camp.

Tue, 07/02/2013 - 05:21 | Link to Comment Peter Pan
Peter Pan's picture

Barisheff talks about a plus or minus 5 year scenario. A minus five year scenarion is 2008. Perhaps he meant a 5-10 year scenario.

In any case there are some provisos that I see operating:

1. I doubt that when gold goes to $10,000 that gasoline at the pump will still be anywhere near today's prices. In fact I suspect that if gold went to $10,000 the price of bread and other basics would also rise quite strongly.

2. What we might well see is the debasement of currency against gold but no where near the same level of debasement of other assets against gold.

3. Another problem is that gold is held by such a miniscule portion of the population that for it to be used as a medium of exchange is highly unlikely. It will however be considered a par excellence form of money.

4. Another problem is that if gold went to $10,000 an oz, then the people of India who are estimated to have 17,000 tonnes, would end up with gold value in excess of $700 billion.

5. What we do  need is a gold standard in essence. That is, money supply growth to be tied to population growth rather than government printing. This has been the strong point of gold apart from its other qualities.

Tue, 07/02/2013 - 05:23 | Link to Comment orangegeek
orangegeek's picture

Gold falls from near 1900 to near 1200 and we still find bulls out there.

 

Monthly below:

 

http://bullandbearmash.com/chart/spot-gold-monthly-falls-1125-retracemen...

 

For gold to rocket, the USD has to tank  - fair enough.  For the USD to tank, the EURO, YEN and GBP must rocket - not so sure about this part.

 

Gold should retrace for a while, followed by another leg down.

Tue, 07/02/2013 - 05:50 | Link to Comment Peter Pan
Peter Pan's picture

Why another leg down? I would be fascinated by your reasoning or knowledge that leads to such a prognostication.

Tue, 07/02/2013 - 08:09 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Something to do with a deficit/gold ratio chart....we'll just keep that our little secret for now.

 

Let the stock board chart jockeys destroy themselves if they want too.

Tue, 07/02/2013 - 05:56 | Link to Comment Sudden Debt
Sudden Debt's picture

I sure hope you're not a accountant...

Tue, 07/02/2013 - 07:04 | Link to Comment SAT 800
SAT 800's picture

Relax, he's just another idiot; imagine not understanding that all the currencies devalue together; what a smuck.

Tue, 07/02/2013 - 11:55 | Link to Comment akak
akak's picture

SAT wisely stated:

imagine not understanding that all the currencies devalue together

Indeed, that is a point at which I have hammered incessantly in this forum, apparently still to no effect on some people. 

It is the kind of perfect idiocy you get when you myopically focus on such flawed and irrelevant metrics as the so-called US Dollar Index, through which the sheep believe that one or more sinking ships can somehow magically rise out of the water merely because one particular sinking ship starts taking on water faster than all the others.

Tue, 07/02/2013 - 12:16 | Link to Comment Bay of Pigs
Bay of Pigs's picture

But, but akak....the shit is everywhere and only costs $5 bucks to dig it up!

Look at a ten year chart and tell me the USD is rising in value. 98 to 83. What nonsense this retard spews all day long (gold up from 300 to 1250 since then).

http://www.fxstreet.com/rates-charts/usdollar-index/

 

Tue, 07/02/2013 - 12:37 | Link to Comment akak
akak's picture

As anti-gold, pro-paper trolls go, at least OrangeNadler is only a modestly annoying one.  He drops his shit and runs, rarely with any debate or response, probably because he knows he cannot defend his absurd pro-paper theses.

Tue, 07/02/2013 - 14:19 | Link to Comment SqueekyFromm
SqueekyFromm's picture

Hi OrangeGeek!!!

OH, I am with you about how absurd these Gold Bugs are. It is some kind of religious obsession with them, like they are sick or something, or maybe infected with something. . .Hmmm, there's a thought! Maybe they have a self-destructive virus??? Irish Poem time!!!

STAXnut

There once were some NSA hacks

Who created a virus called STAX!

It caused folks to schiz,

And to buy Gold in fits,

In complete disregard of the facts!

 

Squeeky Fromm, Girl Reporter

 

 

Tue, 07/02/2013 - 10:23 | Link to Comment robertocarlos
robertocarlos's picture

Gold stays steady in US currency. All other paper gets monkeyhammered. I did not see that coming.

Tue, 07/02/2013 - 11:12 | Link to Comment pitchpole
pitchpole's picture

"That is just human nature. And that is what happens."

yes, but this is something more than human nature. This is marxism. This evil. This is path to one world currency and complete central control of EVERYTHING.

Do NOT follow this link or you will be banned from the site!