Gold's Timeless Truth
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One should never be concerned about the gold price measured by a suspect still standing monetary regime. Value placed on Gold in terms of fiat currency solely backed by the good faith and credit of bankrupt Governments whose Central Banks are counterfeiting paper money is only viable so long as the presiding monetary authorities legitimately maintain their credibility and supremacy over time.
The history of fiat money, to put it kindly, has been one of failure. In fact, EVERY fiat currency since the Romans first began the practice in the first century has ended in devaluation and eventual collapse, of not only the currency, but of the economy that housed the fiat currency as well. (The Daily Reckoning)
The inevitable failure of the western world's financial system will leave gold as the only veritable store of value still standing. Once the capital and economic breakdown befalls, the trust between the nations tied to the previous monetary order will have been irrevocably shattered. Gold then emerges as the essential and only long standing common denominator between sovereign States that no longer value each others' previously accepted paper obligations, having been entirely discredited, which hitherto had facilitated the exchange of goods and services between them.
The severe monetary, commercial and geopolitical dislocations that invariably ensue, unalterably follows the disintergration of the previous global means of exchange, in this case the Dollar. That is precisely the moment Gold takes center stage. When the dust finally settles, the only remaining store of value still trusted and acceptable as a means of fair trade is gold. It consistently has been for over 4,000 years of civilization's monetary history, which is about determinative a probability as they come.......
Finally, a new monetary system is eventually invariably reestablished between the decimated distrusting parties, forced to the negotiating table so as to resolve the ongoing global financial cataclysm, which can only be based on a universally recognized currency, and that my dear friends has always been gold. At the end of the day, the honest and genuine asset class is quite simply in class of its own, unequivocally valued by all concerned parties, particularly at that critical perilous juncture in time..
It's all really quite simple, it's not about the new Stock Market highs, nor the Dollar and U.S. Treasury safe haven. It’s all about tomorrow’s confidence in our Monetary system. Are you confident in the malignant malfunctioning monetization? Actually, the only pertinent question still remaining, is when, not if, it won't be a Happy New Year for our cocksure monetary mad men?
Money is stored labor. Labor is part of life. When you debase money you devalue life itself.
Oh, and for all those lost souls that incessantly dismiss gold as a barbaric relic, please be advised that the metal remains the best performing asset class of the new monetized millennium, by a country mile................ Be sure to let me know when that changes......
Moreover, Gold is simply financial insurance, whether you have paid $45 per month or $65 per month for crucial insurance coverage becomes entirely irrelevant when an instantaneous incendiary inferno burns down your home..................Capiche?
To quote the timeless Bobby Dylan: "Come in she said, I'll give you Shelter from the Storm"
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So, you are part of the system that steals from the productive, moving about worthless digits and bits of paper and you think this makes you superior???
The whole financial system is based on unicorn farts.
Given the choice between the aforementioned gas and metal, I'll go with the metal.
Fuck all you paper/digit pushing arseholes. You produce NOTHING and think you should be highly paid for that.
InnVestuhr - If you are REALLY an investment manager, then I would guess you would have no problem giving us all the your name and contact info of your company so we can come to your for all of our investment needs?
Called your bluff, eh?
I got into investment management unintentionally by being successful at managing my own wealth earned from being a successful entrepreneur, and then accepting requests from other successful entrepreneurs to help them with their investments, and helping my favorite charities to earn income and raise money. I have far more demand for my services than I want or need at this stage of life, so I confine my practice to only successful entrepreneurs that I know personally or who are well-known by others that I trust, and my favorite charities.
You should just keep following the siren song of the apocalypse priests, keep buying shiny shit, and keep hoping for the forever prophesized apocalypse that would make your no-income collapsing-price shiny shit speculation pay off, because that is clearly the maximum extent of your "investment" expertise.
An investment manager that discovered this site 16 weeks ago?
LOL
An investment manager that TYPES IN CAPS TO SHOW THAT HE IS SO SMART??
ROFL
Do you have at least 5% of your clients money in gold? If you dont you should for their own safety... Ray Dalio holds gold, if its good enough for insurance for him, its good enough for me? If you dont have a small percent of gold your not a good manager and you dont understand the very basics of money, just like our current regime. Gold is good at the moment, it tells us who the liars are. Gold tells the truth in a world of liars... Its tells me and helps me form the opinion that you quite possibly lie frequently. If you dont understand gold you shouldnt be in the market.
Dalio does not hold gold in his client fund.
If I am supposed to own gold because Dalio owns some, then shouldn't you also own US treasuries and other fiat-based financial assets because Dalio owns MANY TIMES more of those than gold ?
Dear Sir, historic interest rate on treasuries was about 5%. So, holding 1 million US$ is treasuries gave you a fixed income of 50.000 US$/year. Today, you hardly get 1%, so for the same income of 50.000 US$/year, one needs 5 millions in treasuries. That's the way inflation is being hidden : your money doesn't bring you anything anymore. ZIRP ( and even worse, NIRP ) DESTROYS the value of money and not by a little, but by >80% ( in my little example ) and more to date. Europe is even worse : there, interest on savings is commonly 0.15% per year. Just calculate how much money you would need to live off your interests .......
Yes, treasuries used to pay much higher yield before the central bankers went beserk, BUT they pay THREE TIMES more than the meager 1% you used in your calculation.
You are the perfect embodiment of my conception of an "investment manager".
Thank you, helps to feel a bit more comfortable with my very own expertise on the subject.
So who's paying you?
How old are you? Were you even alive before 1971? It is totally possible to have currencies backed by something. I remember when coins were actual silver. And I'm not that ancient. Your right though NO COUNTRY will do it voluntarily.
The unfortunate thing about a physically backed currency for those "regimes" that you are so fond of is that they cannot print what does not exist. So they cannot have a welfare / warfare state. Huge trade imbalances cannot exist. They cannot paper over their mistakes. In short the U.S. will have a lot of worthless malinvestment to scrap.
But really this tirade is about your responsibility for your clients capital safety and a return on investment. Unfortunately you cannot find either. So you are pissed. I would be too. But would it kill you to put a little bit of your ridiculous salary into gold as a saving or insurance policy? Worst case scenario is that nothing happens and you leave it to your kids.
You showed your hand when you said "I am an investment manager..." Pair of dueces and 9 high card.
You may as well be pushing heroin and pimping.
Tangible vs. intangible.
Equities are a Ponzi.
I don't do equities.
Clam shells and bond funds?
Sand and "cash" mutual's?
Jeebus...give us a break...
Hey fucktard, why do central banks hold gold then?
Central banks hold gold as neutral collateral. Central banks hold FAR MORE US treasuries than shiny shit.
Are you a country with your own central bank - is that why you buy shiny shit ?
Or are you suggesting that central banks own shiny shit as a hedge against the failure of their own fiat currency ?
innvestuhrr says he is an investment manager but has been here for 14 weeks and is anti gold. Hummm. I believe he needs to stay invested. All these managers need to be invested. Thats how they make a living. They know nothing else. Run away as fast as you can from this guy if you are invested with him. The fact that the system hasn't collapsed yet therefore it will never collapse is the same idiot thinking that prevailed in 2008. Forget him. He is captured by the system just as before. There is no poingt in his logic. Only his commission and fees.
Correct, Indy. This guy is so emotional because his livlihood depends on fiat. I suspect deep down he knows what all of us "gold bugs" are saying is the truth -- but he's deep in denial. Hopefully, he wakes up and buys some insurance. Invest-duhhr seems like the type who won't be able to cope when his beloved fiat system finally implodes.
What is the relevance of commenting on ZH for 14 werks ?
So for you only duration on ZH is a measure of value - how much have you lost in your cult worship, wise old-timer ?
The general style of ZH is anti-fiat and anti-government, both of which appear to be the exact opposite of your own thoughts. Why then do you keep coming back to ZH to decry the views held by the majority of readers/posters. Are you a sadist? Would every hour spent reading and posting on ZH not be more productively spent managing your investments? There are only 24 hours in a day and you need to sleep and eat for some of those. That means the remaining hours are precious and should be spent wisely. Why then spend them doing something you have confessed as hating? You shout so loudly that one is drawn to the simple conclusion that you are nothing but a government troll.
If you think of gold as an investment which returns more (or less) fiat then you have completely missed the point. Gold is not an investment which returns a greater or lesser amount of fiat when it is exchanged. It is an insurance policy. It is also outwith the reaches of government ( excepting gold confiscation, but then if they were confiscating gold what would that tell you about it's "value" ?).
really? you claim to be an investment manager and you say this ignorant drivel?:
"profiteers of the gold cult and scam - they have ZERO credibility - they have been ABSOLUTELY WRONG ON ALL OF THEIR PREDICTIONS YEAR AFTER YEAR FOR DECADES"
so, in 2001 to 2008, gold didn't rise from $250 to $1000?
and from 2009 to 2011 gold didn't rise from $750 to $1900?
what is the point of your telling lies that are easily disproven by looking at a chart?
do you see zh as a confession booth where you can admit to your ignorance and hope that you are forgiven?
Gold went up after 2008 because of the global financial crisis, and that is the ONLY reason. Without crisis, gold is dead money.
Since you are a chart watcher, you might have noticed that gold has lost more than 40% of its peak price and is still going down, down, down ... in spite of the all-media-format flood of hype and propaganda from the apocalypse cult priests and their followers.
I am sure that you have lost a lot of "wealth". Hurts, huh ?
wrong on all counts.
i'm not a chart-watcher.
gold is a long term store of wealth.
from 1933 to today, gold has gone from $20 to $1100 per oz.
no, actually, i didn't notice that gold is 40% off its peak as you say - instead, what i noticed, is that gold is 400% of what it was worth in 2001 off its low. and this is just the start. would i be willing to take a 40% loss after a 300% gain? fucking absolutely!!! and this is just the beginning.
as people realize more and more that the financial system and the con-men such as yourself who run it and who try to strip people of their wealth by pushing them into dubious "investments" so that you can make a commission, are fragile, false, and fraudulent, and should be avoided.
what we had in this country for the last 50 years is over, a new paradigm is coming, your kind will be relegated to the dustbin of history.
you are a peddler of false promises, your time is over, youve robbed many people with your false promises, but it's coming to an end.
Your ignorance of history is breathtaking. And, if gold were to disappear, so would the computer you used to type your dribble. If you don't like the concept of gold backed currency, then like it for these reasons...http://geology.com/minerals/gold/uses-of-gold.shtml
Your fantasies won't change reality. When you and your personal army overthrow the global fiat regimes and install a gold-based or gold-backed currency, then I am sure that I will read this historic event in the news, but until then, you will all live under ONLY fiat currency regimes, and gold will remain only just a cult fetish and limited-use commodity.
There is no army required to overthrow the fiat regime -- fiat will do itself in ... just as I suspect you will too, on that fateful day when economic reality eventually reasserts itself.
"NO REGIME wants a currency backed by or based upon gold"
You said it. At least, there was one meaningful statement out of that childish rant.
We're no longer interested in "REGIMEs" controlling our nation. In order to purge the current blight from our ongoing attempt at self-governing, there will have to be a reset. This is going to be a self-induced correction. We, the people, no longer buy into the false "wealth effect" perpetuated by the banksters. We want to regain control of our monetary system. In order to accomplish our goals, we must wrestle control away from the "REGIMEs" of the world and return to self-rule of the people, by the people, and for the people.
It begins with each of us. Stand for something or fall for anything. Don't wait on someone else to save us. Take small daily actions towards the future you envision. We can make it so.
I love the United States of America. I am a patriot. United we stand. Divided we fall. I see a bright future for our nation, but there are hazards looming on our horizon. We can choose to ignore our reality as some propose or we can face it with intent to overcome and survive. Don't be a mullet.
Namaste
The regime sucks, but we are stuck with it, so the challenge is how to earn income and have a good life in spite of the immoral and corrupt regime.
What you want wrt to regimes is irrelevant unless you have a very large well-armed "army" willing to overthrow the power lords by force and install your own system, otherwise you will continue to live under their control.
You will all grow old and die under the boot heels of the regime lords - fantasizing about being liberated from them is not going to make it happen, nor will just buying inert metals.
ok, thanks for adimtting that you are a loser who has given up and is content to live his life as a slave.
it's the first honest thing you've said.
but we aren't "stuck" with anything - "stuck" is a state of mind, and if you've fallen into that state of mind, it's your loss and yours alone.
there is a time of change coming that will shake the foundations of everything you believe in - lawyers, bankers, brokers, and other worthless middlemen will be eliminated and made obsolete by the blockchain and forced to turn to honest productive work instead of being worthless parasites sucking up the wealth of the productive class.
the dollar will go to its intrinsic value ($0), and a new respect for honest labor will be born.
Your right on.
To those non-members who can not see the up and down arrows, InVestuhrr has significantly more downs. He/she/it is the original shill.
I guess you don't understand the difference between money and currency and your knowledge of history is a tad shaky.
Tell me, what percentage of fiat currencies have collapsed?
All that matters is that the USD is NOT collapsing. In fact, with all the shit in the rest of the world, the USD will continue to strengthen due to capital fleeing from higher risk to lower risk.
to say the $usd is not collapsing is stupid-talk. are you aware the roman denarius was not collapsing, until it did? that the german mark was not collapsing, until it did? that the zimbabwe dollar was not collapsing, until it did?
lower risk? ha! that's a good laugh. it's like saying you want to take a lifeboat from the lusitania over to the titanic, to avoid risk.
the dollar will continue to strengthen for a short while, yes, but not for the reason you mention.
borrowing dollars was made cheap by the fed, and those who borrowed in dollars will now have to pay dollars back to satisfy the loans, creating temporary demand for the useless toilet paper called the $usd.
medium to long term, the dollar is toast.
USD looses further ground when Oil- Silver -Gold -GAs - Wheat - Corn and commodities are not being traded in USD anymore
ISis is US and S-Arabia made.... why to conquer all oil fields of Syria Lybia Iraque.... cause oil traded in dollars only has to keep the US economy and the USD the dominant currency
ISis is just fighting a currency war. Keep up the green bag or die.
There can only be one dominant currency according to US. Till now the rest of the world just accepted.
See what they do to avoid loosing the dollar as reserve and dominant. They bring most parts of the M.E. in ruins. Iraque and Lybia had to pay the price. Countries are totally destroyed mainly to save the US dollar. Just to save the dollar. With it a lot attached
Russia China S American countries Iran have slept too long to start own Money system -Avoid Swift like the plaque -and trade oil commodies in Yuan - Rubel - Own currencies.
They still do not realise what is attached to a dollar -but when they do they should apply same for a Yuan or Ruble or....
When woken up pricing of Gold Silver rise accordingly. That is the moment.
Silver having the potential to exceed Gold. To invest (my) favorite.
Gold a.o. are still placed by US as counter and opposite off against the Dollar. They are ment to fight each other rather then support.
You should buy some junk bonds, the yields are so much higher this year. And I'm sure the yields will be even higher next year. What a great time to get in. Such a deal.
This is a bad time for junk bonds in general, unless you have the time and resources to perform extensive due diligence on individual bonds/companies.
I don't do junk.
yes, you do junk, in fact everything you do is junk.
speaking of which, i notice that you give yourself a +1 up arrow every time you post, and you're pretty much the only one who gives you an up arrow. giving yourself a +1 is basically masturbation.
if you want to masturbate, that's fine, just be aware that people will recognize you as a worthless loser.
wow! such deal. make many money. to the moon!
another ignorant comment from invest-duhhhhr
gold isn't where money goes - gold is money, and a long-term store of wealth.
$20 USD fiat bill from 1933 is still $20, maybe slightly more for collectible value.
$20 US gold coin from 1933 is $1100.
you keep holding your USD, i'll hold gold, thanks.
you'll have to excuse InnVestuhrr...his lifeblood is dependent on sucking yellen's teets
@ "InnVestuhrr"
Gold is not for everyone, but those who have spent less than their earnings (living within their means) and want to preserve their savings.
Based on statistics, 62% of Americans have less than $1000 in savings.
Apparently you are not one of them and you are right. Gold is not for you. Pay 21% on your CC's
http://www.marketwatch.com/story/most-americans-have-less-than-1000-in-s...
dona k:
the link you gave, talks about how much americans have in a "savings account".
why would anyone have a savings account? they pay basically 0% interest.
i have no savings account but plenty of reserves.
I missed that particular point but the overall point is still valid considering that a small % of Americans are stackers.
He forgot to mention that gold production is heavily subsidized and you can get it cheap.
This is just another blogger hawking his site and linked services for investing in gold. So tiresome. We can all look at a chart and see that gold has been a declining asset for years. Yes, buy some for "insurance" but hopefully everyone did that years ago. Otherwise, wait for the charts to turn up.
Don't forget about silver... the Lone Rangers' horse.
The US dollar was originally defined in silver....
371.25 grains of silver = 1 dollar
1.0 grain = 0.06480 gram
Gold came along later.