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Yes, another infographic, and yes, another answer (always the same) on whether gold is a bubble.
Courtesy of bullioninternational.com
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Hey, you should be able to do $60,000 - after all, your wife has a vagina too.
WTF - who's ass are you sticking them up Hugo? You and yours must have one hell of a asshole.
Did anyone know that at one point salt was money and more valuable than gold?
bullshit it was more valuable than gold
Bullshit was more valuable than gold?
Just where and when did THAT happen?
started with Reagan.
I'd say Wilson, if not the tyrant Lincoln.
never trust a guy with a top hat and cane. unless he's a peanut.
Five peanuts were walking down the street, and one of them was a salted.
And the other four where a roasted?
After being grilled by the police, they all cracked.
akak's on fire
wHEN THE ROMAN EMPIRE RULED THE MEDITERAIN WORLD THEY PAID THERE ARMY WITH SALT. THAT IS WHERE THE TERM SALARY COMES FROM
Also, the term "worth your salt" went back to the Romans
As well as the word salad, which in latin literally means "salted"
hey jesse.....thats where the the term"celary salt" came from.
Did you know table salt is 1/3 salt 1/3 sand 1/3 silica , that is why it fucks up your veins because it scratches them and so the body trys to fix them and end up blocking them , only eat sea salt or hymalayan salt . ( not sure on the spelling of "hymalayan" or a lot of other words actually) anyway its not nice to pick on disabled people.
Delete yourself
2nd
buy chemical grade NaCl
"food grade" salt contains iodine, fluoride, aluminum....
Yeah but I heard that when you mix all that together it actually helps you sleep less, work more, and die sooner. And that's bullish.
What about Kosher salt?
It's fine for most things, unless you add it to Arabic food --- the resulting combination is usually unpleasant, and frequently violent.
Salt - I guess u do learn something everyday.
No. It;s not that easy. You have to read books, take notes, and think. This will come as a shock to you. Perhaps you should just forget about it, and keep pretending.
.
No, I did not know that, because it is simply not true.
First, most sand IS silica (silicon dioxide, to be precise), so you are trying to tell us that our table salt is 2/3 sand? Um, I don't think so. Most manufacturers of iodized table salt do put a tiny amount of finely ground silica into their salt to prevent it from caking up under humid conditions, but the amounts used are well less than 1% of the final product.
Second, silica is utterly inert in the human body, so even if one were to ingest it, it is merely going to pass on through the digestive tract --- there is no possible way for it to enter one's bloodstream, short of directly injecting sand into one's veins. Silica is completely inert to even the strongest acids (aside from hydrofluoric acid, which is never present in the human body barring catastrophic laboratory accidents), much less to the weak hydrochloric acid in the stomach, so there would be no way for it to dissolve in the gastrointestinal system even if ingested --- which is a shame, otherwise we could all live on sand, which would be cool, if rather hard on the teeth.
Why don't you just die.
I'm sure the ones getting paid salt were at the bottom of the barrel. It's a hard asset that can be traded in certain regions so it makes sense, not too valuable where there is natural sea salt, but I'm sure it would buy you things were it was scarce. I wonder how much salt you could trade for a gold coin back then, quite a lot I imagine.
yep, circa 3000 years ago salt was more valuable than gold. It's in The Middle Kingdom :)
I drop some pre-highschool knowledge I learned about salt and out comes the truth.
Salt was BETTER than gold at one point. That's crazy right? People take salt for granted. There isn't even a futures contract for salt.
Salt deprivation will make you a slave zombie.
True fact.
Actually, salt deprivation will make you unconscious; similar to what you experience today.
Salt deprivation eventually stops your heart.
That's what happened to Terry Schaivo with all her water fasting.
And the lady who drank all that water to win a WII.
A buckect of sea water will make you about a 1/2 pound of salt when it evaporates in a couple of days if you don't want to cook it. Does it make sense that it was more valuable than Gold. No. It does make sense as a vehicle of trade in regions that did not have natural salt and so it would need to have a particular local value.
It's in the Middle Kingdom? And let me guess; the Middle Kingdon is an interactive computer game. did it ever occur to you tht you might be an idiot? I didn't think so. But you are.
That was in bad taste...
HHS Secretary Kathleen Sebelius is working very hard to outlaw salt.
I don't know if it's a bubble or not, but I'd rather have gold than dollars.
You can't eat Gold or convert it to 12.44 BTU like a FED note.
Yeah, I can't eat dollars, houses, cars, or cheap dollar store imports, either.
I don't think those of us going into gold are doing anything more than preserving some buying power for the future. It's really just an alternative to savings accounts now that they've been destroyed.
Right?
That's how I view it at least.
That;s correct; it';s a savings account. Not an alternative to a savings account; but an actual savings account. the only disclaimer here, is that you should actually save in Silver because the Government will freak out about gold long before they freak out about Silver.
I wouldn't mind getting about an ounce blown into a nice bubble to sell to the public as nest eggs
Wow! Another gold fund manager gets suspicious | Gold Anti-Trust Action Committee
They Buy Down the Price.. of PM's! when the FED is tapped.. maxed out debt ceiling height.. the price of gold and silver goes up.. and up.. and up...
when Congress grows the debt or raises the debt cap.. the buying down of PM's continues..
EVERY TIME! Go look at ANY CHART! during a Debt Ceiling Height Debate.. and before and after..
People / Sheepoeple only see what they feel like seeing..
It is not like we have not tried to warn them.. help them.. beg them to change to help themselves.. but NOPE!
I am a crack pot!
We will see!
Dylan Grice says there is "no way out" for Japan in his latest note from this afternoon, says easing is about to go ballistic even compared to what it is now and the BoJ is about to get "marginalised-then-brutalised":
http://www.dailycollateral.com/2012/03/02/dylan-grice-central-banks-about-to-get-marginalised-then-brutalised/
In other news, bank of America continues to find new ways to pilfer their customers by starting their fee program again. In their sick, demented, delusioned heads, Bac still feels customers have to share in the burden of earning no interest on money that Bac plays with......
http://blogs.wsj.com/deals/2012/03/01/bank-of-america-still-scheming-up-...
Why the fuck does anyone have a bank account, I guess you carnt fix stupid.
Why does everyone go on about not being able to eat gold? You can't eat paper either. When you compare them, I suppose if it all really came down, I could still wipe my ass with paper. As for gold, even then I'm sure could still trade it to have someone do that for me.
Salt is just an old relic, we keep it around for tradition
Great find! My readers will love this, thanks.
I'm forever blowing bubbles,
Pretty bubbles in the air
They fly so high, nearly reach the sky
And like my dreams they fade and die
Fortune's always hiding,
I've looked everywhere
I'm forever blowing bubbles,
Pretty bubbles in the air
United! (clap hands) united! (clap hands)
A Wunnerful, A Wunnerful..let's hear it for Don Ho and his Hawaiian luau orchestra, appearing every weekend night at Big Al's on the big island!
And now the Champagne ladies & Myron Floren will do that old classic Rolling Stones ditty, I can't get no-a satisfaction-a.
They are saying that gold is a bubble
Despite the fact banks are in trouble
The shock will be rude
When it's all about food
After the gold prices double
Huge paper bubbles
ready to burst, fill the sky
while gold abides.
Bullion in the sky
With diamonds
AAAAAAAAAAAAAAAAAAAAHHHHHaaaaaaaaaaaaaaahhhhhhhh
Yeah well, that's just like, your opinion... man.
My tolerance for stupidity is in a bubble....................
And you;re reading internet blogz? Dude, you're flirting with disaster.
We’re nearing the panicked Central Planning Campaign called ‘Central Banking Donation Drive.’ Taken from the United Nations Charter, you can donate your double taxed income to limit Banking poverty. By donating today, you’ll prevent endangering the future insolvency of our Central Banking Ponzi program.
If you act now, you’ll receive.
'Let United Nations humanitarian chief Valerie Amos into Syria'
http://www.belfasttelegraph.co.uk/news/world-news/let-united-nations-humanitarian-chief-valerie-amos-into-syria-16125218.html
the banks already own all the gold...can the price go higher? sure. does it bother the banks? why would it? the higher it goes the richer they get! gold is not the "holy grail"...the holy grail is "fiat interest rates" and the masking of true inflation. in an awesome display of pure, raw and unadulterated financial power "this has been achieved"...and i still stand in awe at "how." as a consequence "savings have no value whatsoever"...so sure..."gold goes up, up and away." but if everyone's savings have no value whatsover...who's the winner here? "the gold bug"? hahahaha. to that i say "sit down on the couch young man and let's talk cash flow" cuz if i can start discounting that cash flow then as a management team i can make a fortune beyond belief if i'm lucky enough to be say...the guy who happens to be running Government Motors. All thanks to the taxpayer who's gotten screwed no less and is still bailing my company out! BAILOUTS ARE BULLSHIT PEOPLE...gold is just a distraction which TPTB love.buy all you want...own all you want. if the price drops another hundred bucks from here...hey, it's a market! you all are the one's who say you don't care and "you'll always buy more." why would i a market guy begrudge that?
It is not a bubble.
People buy to hold a very long time from cash.
People buy paper shares on credit, margin or some other leverage. Then that is a bubble that gets popped.
Paper is the bubble. Not the physical.
I remember when fucking BMW cars were a BUBBLE until just prior to the early 80's collapse.
I don't even own a bit of Gold right now... I am just stacking on average spot Au.
I bought a box of Mr Bubble for my nightly bubble bath. It cost $8.95.
OH MY GOD! MR BUBBLE IS IN A BUBBLE!
Haha, "dead canary."
You're right. Gold is not the bubble. The bubble is in nearly everything else. The irony is that gold is trying hard just to catch up.
When there is a real bubble, nobody calls it a bubble. That's what makes it a bubble. Right now its bonds. And when that baby blows, God help us.
If you don't understand my above post now, you will in the future. The calamity of secrets are coming unglued.
"The calamity of secrets are coming unglued"---Does this person speak any human language? Is he Insane? Or merely, another internet, "contributor".?
Eetz een eh bauble.
for the precious metal people here an idea, old, to
make a difference. give one oz to someone you love (respect),
as a gift with the stipulation they buy one oz and give
it to some one they love.( respect )
actually , jesus did this with simon peter and his feet.
(washing). it is more the quality than the quantity.
this would work as the washing of feet would work. it would be
kind to do it while the expiry is in dip mode.
Waiter, can you call me a bubble? You're a bubble!
http://www.sharelynx.com/chartstemp/GoldeWave.php
"If I could inflate that way, I wouldn't need a hedge."
Waka waka
Pretend it's 2015 (Ben is keeping rates low until at least that time). Here is the question you will hear:
"Is gold in a bubble"?
it's not a a bubble, it's a scramble. they end quite differently.
Just a guess, but I think Saudi Arabia owns more gold than they're reporting here.
Ron Paul discusses the Silver Coin Moment with Piers Morgan
http://youtu.be/BGeqGOQ0StE?t=10m22s
Gold is no more in a bubble THAN PAPER IS. Simple enough. As much as they would like you to believe that they can win the battle with their addiction, the truth is they will not ever be able to stop themselves from printing more and more paper. Therefore the paper bubble and the price of Gold (and everything else) will continue to grow together in direct correlation. When the paper bubble bursts, those holding Gold will be the haves and those holding paper will be the have nots
Simple hoarding is the best indicator that one truly understands the potential of the PMs ! One per cent of the world's people own all the gold.....now that is the 1% I want to be a part of ! Monedas 2011 Actually, I'm already there and WAITING ! Taiwan, South Korea and the USA are the leading per capita holders ? That's pretty good company to be in !
"Hoarding, is another way of saying, savings account". Really, that's all there is to it. the essential difference of course, is that the precious metals savings account will still retain the same, or greater, buying power that it had when you bought it. the Fiat currency savings account, will not. You choose.
Infographic my ass this is an advertisement. Sure it makes sense but the world is not making decisions based on common sense right now. There are new radio commercials with a new gold sellers everyweek. Some ads area back to back, differnet companies. Why are so many trying to sell gold for fiat??
People need hope, they need God and an after life to feel better. Gold is hope to those in the know. Gold is more about hope than common sense. It is unproductive, it is not in anywhere near enough supply to back any fiscal system in a sensible way. Buy your hope but get some guns and food to go with it. Gold is the opium of Zero hedge, the street value is down and I am itching for another hit myself.
They need God and an afterlife;?. I don;t need God or an afterlife. I need your sixteen year old sister who will be not only available but eager to learn, for small gold coins. Wake, up.
Gold is hope to those in the know. Gold is more about hope than common sense. It is unproductive, it is not in anywhere near enough supply to back any fiscal system in a sensible way.
**************
Complete uninformed bullshit--there is no such thing as too small of a money supply-
There are 170,000 tons of gold in the world-the only question is at what price-
That dude sounds like Vote with a Bullet over at Mish's blog.
Delta Bravo...
Good to see you Bay-sure is some dumb fucks out there huh (:
I got banned at Turds because of a douchebag moderator. Glad ZH lets it all go....like it should be.
Peace and Aloha brother...
YOU got banned on Turd's blog? Really?
What the Hell? Who do they have as moderators --- the infamous "ynot2k" from over in the Kitco gulag, or Karl Douchinger himself?
Yes akak, me and few other posters over there got the boot when an over zealous Mod got all worked up.
Funny thing is, I was #1 on his leaderboard when she gave me the boot . LOL...
Well, I am sorry to hear that.
If I may ask, what were the "charges" against you?
I've never seen you even remotely engage in any kind of behavior here that could lead anyone to wanting to ban you --- I suspect acute moderator egoitis was to blame, not you.
Thanks ZH for the wonderful graph :)
One Great Picture is worthful of Ten Thousands of Words.
What a great handy tool to use for explaining to those sheeples that the "barbaric relic" is not bubble any way. In fact it's a tightly suppressed commodity by the gangsta banksters.
_____________________________
“If a man takes no thought about what is distant, he will find sorrow near at hand.” — Confucius (551-479 BCE)
Who Was Confucius?
Confucius (September 28, 551 BC – 479 BC) was a Chinese social philosopher, whose teachings are well known for their emphasis on personal and government morality, family values, correctness of social relationships, justice and sincerity.
His thoughts became so popular that they had been developed into a system of philosophy known as Confucianism. Popularity was not confined to China either. It spread to Korea, Japan and Vietnam and was introduced to Europe by Jesuit Matteo Ricci. http://bit.ly/x88PNa
You really should consider seriously the possibility that you are a semi-literate moron. ---"worthful of ten thousands of words--". Jesus Christ, didn't you go to grammar school.
I was thinking that you could be an insult-Troll bot, but no program would be made with such a stupid-sounding result product. Furthermore "semi-literate moron" would be a perfect description of yourself.
My best guess you are a sub-moronic 11 year old who has hacked or found an open computer which is already logged on with a ZH account and you consider yourself clever.
Confucious was the equivalent of Solon in Greece, a near contemporary, plus Socrates. Moral system maker. He also is purported to have emphasised that the elites should set the example in society; whence the emergence of Mandarin class in Chinese society, a bit like Plato's philosopher king and subsequent Academia scholastics, leaders of Athen's elite.
Solon - Wikipedia, the free encyclopedia
Socrates - Wikipedia, the free encyclopedia
Confucious was there in between.
Gautama Buddha - Wikipedia, the free encyclopedia
We can see that modern humanist philosophy began around the same time in three major civilizations.
Coincidence?
http://capital3x.com/think-tank/there-it-does-it-again/
Gold has been broken down by rising us 2 year yield says C3X
It would be nice if Tiffany's would make some Gold bubble pendants. I would buy one.
best graph I've seen this month! Paulson is thinking buying gold too.
http://www.jinrongbaike.com/
http://www.cnhedge.com/
Problem is, PAPER GOLD is in a bubble.
No, Gold is not a bubble. fiat currencies are a bubble. This is obvious. What is not so obvious, although it is fairly obvious, is that you will be better off putting your savings in Silver. Which will appreciate at least as fast as Gold, and does not have the bad mojo coming down on it from the central powers. So now I've done my helpful Hanna shtick; and if you want to be punished for being a "gold owner" and terrorist; go right ahead, It's not my problem. I'm sticking with 100% Silver Bullion. Cheers.
+ $55,000 THANKS, Tyler!
I just put that graphic up on my blog. I was running a little short on gold articles...
Are the dollar and the Euro in a bubble?
Yes they are- worthless .
So when they burst in the forthcoming financial collapse they will go up in flames.
All fiat currencies throught history of over 5000 years has failed.
Gold and Silver has always retained wealth throught human history and been the only asset that nothing can destroy.
What most people do not understand is that the currency note they hold is an IOU issued by their respective Governments. That they hold the liability of their governments.It is not an asset that you hold- it is someone else's liability. When you hold Physical Gold and Silver you have a real asset. You need never go to anyone to ask for your wealth. You have it with you.
And as nearly all Governments have proved they are there to take care only of those in power.
What governments forget is that they have been elected to take care of their citizens and not the other way around.
I don't know what the mystery of whether or not gold is in a bubble is. But what about that last ZH top article about the central banks buying into the markets? Now that's something that disappeared faster than a bursting bubble. Or aren't we susposed to mention that anymore?
Agree. I want to hear about central banks buying gold. After all they are supposed to be the evil printer, not the beloved gold hoarders.
dupe
ink: http://capital3x.com/trades/es-rips-another-high-and-violates-inside-day/
ES battle going on at 1376. Inside day violated.
http://i39.tinypic.com/rhpky8.png
An infograph can represent anything you want. Here is one showing gold is in a bubble and it does not use fiat money as the unit of measure.
Oh thank God for that; just what I was hoping for; a graph showing Gold is in a bubble without using fiat money. Has it occured to you that you might be a idiot? I didn't think so.
There is no perfect form of wealth. It's just that some forms of wealth are better than others over extended periods of time and in periods of insane government management of the economy or war.
It would be ludiscrous to believe that beyond fiat's convenience that it should have values that are determined simply by how many zeroes are printed on it or by which government issues it.
RUMOUR HAS IT:-
SOMEONE IS TRYING TO CRASH THE DOLLARS WITH GOLD BUYING AND IT SEEMS THAT IS NOT THE FED...SO WHO IS IT?
S O R O S
Soros breaks the BanK of America in 2013.
Soros offers his (IMF SDR credit ) Speical Drawing Rights? How fucking special is it.
2 for 1? 3 for 1? 4 for 1 ? Who knows .
Maybe he ought to give 10, 000 credits to each man/woman/sheep that volunteers to have chip put in their arm to keep track of the credits.
Would you do it, or much would you demand to do it?
"Everything is mine, told the gold. No, everything is mine, told the sword."
No, everything is mine said the machine"
A little nerd up in Seattle.
Either a saint or Satan himself, time will tell
who this little nerd really is..........
It's not a bubble but that doesn't mean it's going higher. Central banks are capable of detroying gold in minutes while printing $1T (€700B) without anybody budging. If you're not a banker, you're screwed. Everything else is just talk (which I like).
Of course its a bubble that will burst in 2016: Prediction chart:
http://www.tfmetalsreport.com/comment/83978#comment-83978
PROOF-log periodic precrash pattern in first approximation:
http://www.tfmetalsreport.com/comment/83988#comment-83988
But there is long time till then.
So you believe that the rampant fiscal insanity of every major world government will be brought to an end, and sound money restored, four years from now? Because nothing less than that will stop the rise in the price (AND value) of gold.
What are those percentages of the central banks supposed to mean? Surely the US money supply is not 89% backed by gold. This can not be proportional holdings of central banks relatively to each other because it totals more than 100%. What is the world figure of 13.4% supposed to mean? Could it mean central banks have 13.4% of the world's gold? Possible but then the world % is not measuring the same thing as the individual country percentages because the US clearly does NOT have 89.4% of total world gold, central bank gold or 89.4% gold backing to it's money. WTF?
Couldn't figure it out. Guessing it could be amount owned by central bank compared with countries citizens?
As long as the central bankers control the money line and as long as the MIC/politicians stay in the Petrodollar paradigm, black gold stays the ultimate commodity fueling the world economy (energy sector hard commodity stocks).
We moved away from gold as back up in 1971/1973 construct, when we deconstructed gold and injected oil in place.
Until we move out of that conundrum the black gold will be the only back up in town. Currently the first world fiat debt mountain and resulting currency war devaluation of USD and its surrogate the Euro, relative to asymmetric BRIC giants and their Hydrocarbon rich associates, is pushing the financial world into unstable stagflationary gridlock and biflationary devaluation of first world money and labour costs; all the while commodities spiral, with fiat reserve currency, USD/EUro dual god, playing as adjustment pivot.
This scenario is doomed to explode, as the marginal rate of growth in real economy does not cover the marginal rate of debt interest associated with debt mountain. We are seeing this before our eyes in Euro zone shenanigans. It won't work. Its just a question of time before the real productive economy of BRIC + RM owner countries pull the plug on indebted reserve currency owners, decoupling black gold from fiat.
THE DAY THAT HAPPENS PMs will come into their own. Until then the Central Bankers have EVERY INTEREST in protecting their own ponzi fiat construct by dumping and pumping the PM market, a drop in comparison with the nominal size of the fiat money market.
So play on PM bugs, but don't forget the underlying balance of power; which could go sour and run to Armageddon. In which case its a whole new scenario...if the first world won't accept mega deflation and its humiliating consequences for their ruling hubristic Oligarchs. They stand to lose upto 60% of their stashed wealth of 25 T in Caymans Xanadu in this melt down. Bitchezzz!
Look dont take this the wrong way but can I have everyone's gold after the bubble bursts. I will pay for it with republic credits or zim dollars, your choice..
I will also throw in free kitchen knives and a ticket in a Harley raffle.
Then why in the fuck have my gold miners been languishing, even declining?????
Retail investors have fled the stock market in general because it is just another form of paper inflating away. Gold miners issue more shares in a continual dilution, don't pay much in the way of a dividend in general, and "peak gold" means all the easy gold has already been found. And after MF Global, who trusts that their paper shares on a stock exchange won't just go poof one day. Or be expropriated by sovereign governments just taking over immovable gold mines some day. Not to mention governments expropriating all paper-based and electronic retirement accounts a la Argentina. With a more than trivial chance that will happen in the US some day when Washington politicians decide they need your retirement funds to prop up a failing Social Security to be "fair" to the people who have not saved anything for their own retirement. Any paper / electronic asset at a brokerage firm is too big of a honeypot to be ignored when the financial crisis really gets going.
And mining costs and labor unrest are going way up. Power problems in South Africa, etc. Just because there is gold in the ground does not mean any of that value will actually trickle down to the average minority stockholder. Who can be brushed off as a sap who can only sell their shares if they don't like how the company is being run. And people still remember the Bre-X scam of the 1990s. So I see lots of reasons why gold mining shares are languishing even though physical gold is continuing to go up in price / the dollar goes down in value. I personally got out of gold shares (and all shares) for all these reasons, and feel much more relaxed stacking physical gold and silver rather than have paper brokerage statements that could and have turned into nothing in a second. Boating accidents and the midnight gardening notwithstanding.
Gold shares used to mirror gold prices, but that was back before the global ponzi really got going. But especially after MF Global, it is clear that any promise from any financial entity is a promise that could be broken. And MF Global is not likely to be unique or the last. So you ought to step back and check your premise about gold mining shares. History is replete with examples of paper going to zero. We are about to see it again. Paper gold mining shares are still paper only somewhat linked to actual value. Not surprising there are fewer buyers than there used to be, and therefore the price of gold shares are languishing. Maybe this is a huge over-estimation of the human species, but the number of greater fools might be diminishing when it comes to stocks.
All that said, once the general public and big investment managers decide to get into gold, paper gold is their only choice. Plus it is much easier to enter a few keystrokes to sell one electronic promise and buy another electronic promise. So would not surprise me to see a final blow-up in gold mining shares as a less crappy alternative to bank stocks and 30 year fixed rate bonds. But all the same, at this point I don't trust that I actually "own" anything I can't actually hold in my hands. Gold stocks - meh - you have already bought mine, and I am not interested in buying them back.
Uhhhm, when the team goes in and pumps "liquididty" in the "Markets" they don't buy the XAU or GDX. Many claim they raid the PM sector through futures, options and naked short sales. CFTC has been investigating JPM and HSBC for three YEARS at the request of Bill Murphy and GATA over alleged "plunging operations".... in three years CFTC has done little or nothing. I don't think there is any doubt that JPM has been hugely involved in silver and gold market yet the "investigation" has no findings on their participation in that market? After three years?
I start to believe that this October chart is correctly showing the February peak in EUR/USD, principal trend. That means, that after little correction along time axis to match the 1,35 peak exactly (I will do it later when I am more sure) , there should be an event ( or nothing special) that would trigger start of sharp EUR downslide in the END OF APRIL-early MAY -till november-December 2012.
http://www.tfmetalsreport.com/comment/78027#comment-78027
What could that event (or general increasing weakness in EURo area) be?
Yes, gold prices would be in a bubble if there was a threat of (lasting)deflation which there is not. Clearly governments in developed countries have to print, print, print to maintain their status quo of ever expanding governments.
How many times do we say this
gold and silver are held for:
1. Buying towns.
2. Buying politcians.
3. Buying prison camp guards.
4. Throwing over the zombies heads so you can escape.
Then of course there are the pumpers who are trading it who tell you it is for profit while they take the other side of the trade.
I'll take answers 1-4 thanks.
At a cyclical top of the gold market, like 31 years ago, there's also the cyclical refrain that gold is in a bubble. This is likely to repeat in 31 years. Meanwhile, the magical belief that an ounce of gold will somehow buy more goods and services in 31 years than it does at the moment does not die.
Could you pls help me understand the cycle from 1933 to 1980? And when do we cycle back to 1933?
As for your straw-man "magical belief" concerning an ounce of gold: Who holds that belief? Perhaps yourself?
I thought goldbugs held gold to maintain their wealth? Against the wealth-killing effects of inflation and fiat ponzi paper-currency?
I distinctly remember when one ponzi-dollar would buy me one gallon of gas, now... not so much. When a gallon costs 100 dollars will you still be straw-maning goldbugs?
Sorry, the price of gold is STILL higher than platinum which is 30X rarer than gold. That means gold is a bubble, and that is just in comparison to another metal.
Then there is this stupid notion that gold is an underowned asset. How can gold be underowned? Is there some lying around that I can pick up? Someone somewhere owns the gold. And no one owns my dog's poop as an asset, does that mean it is undervalued too?
Whether it is housing, the NASDAQ, or oil, when you see a five fold increase in price of something in less than decade, you got yourself a bubble.
That doesn't mean that gold can't go higher though. Gold goes up with fear not with inflation, and we seem to be settling down. I myself think this is the calm before a terrible storm and gold could and probably will go higher.
But enough about this bullshit fundamental argument on gold. Gold is priced on momentum and fear not fundamentals. In comparison to platinum, based on fundamentals, buying gold today is an incredible stupid thing to do.
A man with a brief case on a bus once told me :
"The price of gold collapses once a currency is electronic."
Not sure what to make of that statement.
But hypothitically speaking, lets say we hand NO hard currency and only electronic cards for transacting business, then it would would seem easier for the establishment to make dealing in Gold a No NO , without even making it illegal.
Lets say they made it illegal to own gold as once was the case in the 30's , then it would be very difficult without hard currency to do it.
Without hard currency its hard for the sheeple to commit crimes.
Food for thought. I try to play devils advocate around the gold trade because it just seems to damn easy of a trade.
for what it is worth, today in america,
where i live, the price of two 12oz. cups
of coffee at mcdonalds on the thruway is
the same as the price of 1 gallon of gasoline,
for this brief moment in time. that is $4.04.
when i brought up the fact to the young barista
lady she gave me a quick lecture on the ponzi
nature of fiat currency and i almost cried tears
of torment and joy, a weird mix there. i may never
be the same. the coffee is not even good coffee
either, not like that expensive stuff made from
cat feces. then again the gasoline is of low octane
and with an additive? but who has four dollars to their
name, free and clear?