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CNBC told me gold was a 5000 year old relic and I should sell the bubble top to buy NFLX...?
That was Robot Trader.
If you can sell physical gold 100 times over, then couldn't you say that Ireland has 600 tonnes?
the point that seems to have been missed by most if not all comments this morn is the sentence that ...the piigs do not own there gold...it is managed by the central banks...and i would really assume the ole "possession is 9 tenths of the law" will rule the day..and as always, all of you "pedant" grammar nazis, with all due respect, can go fuck yourself now...
CNBC told me the DJIA would be trading at 22,000, if HFT machines were banned.
NFLX is mighty tasty with ketchup, Gold -- not so much! :>D
HAHAHAHAHA!! The ECB IS SO WRONG!!!! Gold isn't money! I bet Bernanke is laughing his pants off right now with those fools...
Hey, if you had 8000 tons of gold valued on the books @ $42./oz, wouldn't you be laughing too?
This is the way to centralize power. When the ECB and the Fed have it all (leave alone the peanuts physical Gold which retail investors are buying), a new currency such as the SDR partly backed by Gold might be introduced. Who knows what is the plan of the elite...
Gold used as a collateral asset, how long before China demands our gold as collateral?
Pretty, colored pieces of paper are just NOT enough fer some idjuts! Whocouldaknowed?
its all fun and games until somebody opens a vault....and there is nothing there.
"its all fun and games until somebody opens a vault....and there is nothing there."
Oh, there will be something in there... Thousands of claims on each bar that used to be there. :)
As my friends at Soc Gen would say "Touche"
Sort of like when Bush opened the Social Security box and showed people watching on tv that it only contained paper instruments, not FRNs or Ts... Some sort of 'special' bonds... Although I wonder what is so special about another type of paper.
The only thing I appreciated about Bush... When it was 'just another god damned piece of paper'... he called it exactly that.
must be the polishing department that has moved them. Please come back in a month, and probably the gold will be back...
HERE'S SOME GLD AND SLV STOCK TO KEEP YOUR MOUTH SHUT!! HELP YOURSELF OUT!!
The Polish Department took my gold?
SET A COURSE FOR KRAKOW
An audit of Ft. Knox may reveal that all the US has is "comedy gold". Or as the BOE's Gordon Brown put it: "Take my bullion.....please"
Italy slackened budget efforts due to ECB -IFO's Sinn"It was definitely wrong. It's not up to the ECB to buy Italian bonds," he said.
Ireland = leased everything out to asian people who are able to eat their gold too
After all, gold is NOT "wolf's heart, dog's lungs!" (i.e., inedible/worthless!)
Gold as hedge on debt, not just inflation.
Debt/borrowing trades future consumption for present consumption, therefore in future borrower must consume less than what is produced. If done rationally it works out. Debt saturation nearly worldwide has been an exuberance that dramatically darkens the future. Gold will hold a store of value when fiat disintegrates.
I just buy it because its shiny and pretty...
I buy coins for the pictures on it, and if I clean em real good I can see myself.
I like how heavy they feel for their size.
Gold = Labor and Industry completed in the past, ergo, no counterparty risk
Paper Gold (an oxymoron) = A claim on labor and industry completed in the past, that may or may not be collectable due to counter party risk.
Paper Gold = fiat unless you inspect the vault, have a key, and a pound of flesh legal contract.
Excellent, I'll buy that definition!
I would add 'the ONLY key'... :)
Only key is bestQ
Quick, call Roubini!
Eating gold is a tradition?
"I will gladly pay you on Tuesday for gold I can eat today"
Today will be interesting indeed. How many banks will be told..."you got served"
The ECB better call for a priest because I don't think Europe has much time left.
Something between 1 week and 1 month.
Is the CME price fron yahoo misleading or what?
At Yahoo financial they say gold fell $200 or 12.22%.
WTF is the comex gonna burn today?
Current gold price $1861.60 7;55am
Why is the comex price $250? I am aware of the real spot price; I was just wondering what's upwith the comex.
I don't know but you need not start a panic or cause heart attacks on this site by posting that sort of shit...
No way they would do this unilaterally....
maybe the can roll the can one two weeks longer when they try to calm the robots and sheep that they really have any gold left. The same in US. FED representant told congress that there is no gold in FED, they have only certificates and they have them very long time. So German gold is safe..NO Audit for 100 years, nobody can imagine how many trillion dollars were stolen..no one will ever know.
That is no problem. Just collect 500 bricks and spray paint them with gold color then have CNBC show the gold on TV. They would not even have to spray paint tungsten which has gone up in price. Just take any cheap shit bricks.
on top of it all, did anyone ask the rest of the PIIGS if they want to use their gold as collateral?
Which vault holds the gold? Is this some kind of 21st century version of 3 card monte?
Just conspiracizing, here, but the CNBC peppering of the "gold standard" talk has me thinking...
What sovereign has the most gold within its borders: including in-vault and confiscate-able? Are the misfit powers that be racing to some kind of (temporary) gold standard to even out the debt books and, if so, doesn't he who has the most gold hold the bully pulpit?
Just an early morning thought post last night's Wikileaks deep-dive...
Gold in soverign possession? Much more secret than their nuclear capabilities.
Snidley...was thinking more "within the borders" on the thought of "confiscation" being 90% of possession, which we know is 90% of the law.
I was cleanin' the Remington and fondling some maples when the thought occurred to me that these two assets might be converging...
MK... James Turk has spent years trying to unravel gold flows and soverign possession and has yet to come up with numbers that make any sense. So many paper claims distort the numbers and the paper is sometimes reported in same line item as physical. Then there is the soverign paranoia (for good reason) and extreme secrecy and disinformation.
For instance, recently Saudia Arabia announced that they had 'found ' ~348 tons of gold that 'they did not know they had'. Also, China accumulates large quantities of gold over years and then announces that they are transfering 1,000+ tons from their soverign wealth fund to their central bank.
I believe that China is in possession of a lot more gold than stated. Also, Turk estimates that Indian citizens are in possession of ~15 tons of gold, not counting what Indian gov has.
Jim Rickards thinks that the US will confiscate German gold held in the US if push comes to shove... I don't doubt this. Germany has about 6,000 tons in US vaults. US has about 8,000 tons more or less. Say 14,000 tons in US not counting what US citizens, and other institutions hold.
It's all by guess and by golly.
Weapons? When you need one nothing else will do! Also, food, coffee, tea, liquor, ammo, medical supplies, sturdy clothing, sturdy foot wear, fuel, generators, batteries, hey... the list is almost endless. Of course, stuff that one has too much of can be traded for what one needs. Lots to consider.
7.1 earthquake on the Aleutian islands, tsunami warning in effect
Long king crab bellies
Short crab boat insurance
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