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In that case Germany should keep an eye on Switzerland
Wir wollen das Gold. Sie können die Reste haben.
All Heil GOLD!
Jawohl Schlachtmeister! Stets zu Diensten! :)))
Marc Faber: Halten Sie physisches gold , idealerweise in Schließfächern außerhalb der USA.
Marc Faber: Hold Physical gold, ideally in safe deposit boxes outside the US
Marc Faber: Hold Physical gold, ideally in safe deposit boxes outside the US.
Here Faber is a ding a ling(and I like the guy),in a saftey deposit box in ANY Bank, anywhere, is stupid.
Also,like how many countries are going to let Americans EVEN open an account,plus the costs involved of flitting around the globe to store Gold.(he's talking to the super rich, not most real PEOPLE).
Plus, contrary to popular belef,contents of SD Boxes dissapears regularly,and there's no insurance unless you want to pay big bucks, and provide proof of contents.
Storing any wealth in Banks Ultimately controlled by a Commie Gvt is insanity.
exactly right. i do give Faber credit though... at 2:04 of the video he says (twice) "...i do not trust anyone." cnbc doofuses silent.
Anyone can open a goldmoney.com account or bullionvault or goldsilver.com or any of the multitude of 3rd party companies that offer via mat storage in Zurich, Hong Kong, London, Singapore etc etc
It's kind of like Versaille in reverse, bitches. Poetic in a vengeful kind of way.
.....this shit is getting real, fellas.
Yep. I think I'm starting to smell gunpowder and to hear chants of "Germany stole our gold!!"
Well, since you can't eat gold what use does it have. Right?
more like logic.
Why the fuck is Greece Buying Gold with their Bailout money?!
LONDON (MarketWatch) -- The central bank of Greece added further to its gold reserves in June, lifting its holdings by 1,000 troy ounces for a second consecutive month.
According to the International Monetary Fund, the country increased its reserves to 3.585 million ounces in June, from 3.584 million ounces in May and 3.583 million ounces in April.
The debt crisis in Greece and other euro-zone nations like Portugal had led to speculation among market participants and observers over whether Europe's debt-laden countries may move to liquidate their gold holdings in order to raise cash.
However, accounting for the recent small increase in reserves, a spokeswoman for the central bank recently told Dow Jones: "The Bank of Greece buys and sells gold coins, so there is a small fluctuation in its gold holdings from month to month."
Greece's gold reserves are down slightly from the 3.601 million ounces held in May last year after the central bank sold a small amount of its holdings in mid- to late-2010.
...in case they have to leave the euro and need to support their currency. Duh
So if they leave the euro wages out increase!
or are they going to peg it to gold at some thing like 0.00000000 gram for a weeks labour, stone breaking?
This shit is hilarious
Italy it sitting on tonnes of the stuff. Can they just sit tight, wait for the shit to go exponential and actually be in a good position?? IE better than the UK, say? And maybe buy up some of that north sea oil?
Yes, you are correct. This would indeed happen in an "isolated europe" scenario.
But you have to understand there are other forces at work. When TSHTF, wars will break out.
First within europe. Then, when the dust settles, the moslems will just sweep over the old continent and take over.
Such is life.
Gold market is so tiny compared to the cash requirements of bailout targets, that this strategy is hardly worth discussing. Gold would have to be valued at a multiple of where it is today for the numbers to even begin to make sense.
==>Gold would have to be valued at a multiple of where it is today for the numbers to even begin to make sense.
... and that's gonna happen right soon now. It's been happening for a decade, and it's happening right the fuck now. Give it another decade and we'll easily see mid 5-digit gold. $50,000 seems like a nice round number.
They're not stupid - they see this happening and they see their chance to grab the gold(and other collateral) at today's cheap prices. Give it time. It will play out.
Now that they are starting to bitch about handing over their traditional barbarous relics and scrambling to get more of it, the price will start to reflect true value in relation to the mountains of paper.
They are maxing our their credit for PMs while they still can. Why not?
LOL ... that is the nation-state equivalent of maxing out the Credit Cards and buying PM's.
That's beautiful!! :)
pony it up bitchez
Gold is looking very toppy for this leg-up.
Hedge your bets peeps and buy some puts.
Negatory. Any spare fiat available for put premiums is to be funneled into physical. Get out of the paper trading game before it burns down.
No more paper, except perhaps mines.
Maybe some paper will go up, but it is still paper, and liquidation is ultimately controlled by the state.
The region between $1900 and $2000 was always going to be the difficult battle. If you think gold will crash through $2000 before Friday (as mentioned on ZH), then you are setting yourself up to be played.
Yep, and only a few months ago $1,200 was deemed Mt Everest for gold. I'd agree gold would 'crash thru $2,000' if Bernank announced QE3 insanity...but thats OK he wont.
Even Michael Burry anticipates easing well into the next Presidential term. I have no doubts we will see QE3. Maybe not this Friday, but by year end.
Of course you do.... sheep to the slaughterer
yeh but then there's a blood bath in equities which also means money goes to gold - or am I missing something
some commentators are actually saying QE3 will end this leg up for gold as money will flow back into equities which confuses the shit out of me...
clearly gold wins either way and they can only halt it with huge margin hikes, confiscation, or leasing. Silver wins even bigger.
If the PTB cannot defend gold $2000 for a month or so, I'll take it as further evidence the next leg down in the markets and financial system are accelerating faster than even I expect.
I'm with Jim Sinclair and his Jesse Livermore method.
Gold is now being pulled up on angels wings
Silver is just breaking out of the shakles too
Hell with that, Ive been hearing 'gold is looking real toppy and you better put your money in puts here' since gold was $500.
Yes, but now I am suggesting it.
If you have to play with paper it might be an ok SHORT TERM move. But really you are just trying to maximize gains. The End Game is afoot Dr. Watson!
FWIW, I own PM mines and Sprott PHYS when I must dabble in paper form...which I must sadly. When ever you can though it's all about Olivia Newton John's age old advice:
Enjoy the video 3 ladies of ZH.
right. ok. i was just thinking the same thing. NOT.
Well good thing they just found tons of Au from that defunct Libyan government?
All your Gold are belong to us!
Haha! I love that phrase.
How long before they are "in yur base killin yer dewds"?
The little PIIGies ask for their gold back from London and NY and the gold goes where...
Frontrun Hugo, Ursulas.
I'm from London, and I have to say its going to be funny watching the banking sector (and all the hanger-on insutries - restaurants, suit companies, corperate art makers etc etc) falling on their asses. Its going to be dangerous, but also hilarious as I negotiate my way through the carnage with my bullion.
Libya, PIGS, Egypt, Venezuela, et al -- the endgame is GOLD, you can't have a new global universal currency without it
Edward Dempsey, chief investor officer at Pension Partners, has been and remains bullish on gold. "Technically, gold is not showing any signs of slowing down," he says. "It's not at the moment exhibiting any signs of weakness or slowing down."
What's driving gold now is "money running from leveraged financial system," Dempsey says, echoing the views of other gold bulls like Porter Stansberry.
Those countries have lied about everything. So good luck recovering those gold reserves, I don't believe at all they are still where they are supposed to be.
The Great Tungsten Ponzi...
BTW, how do you get orca from a peering giraffe?
Easy, in FED speak I am either a land orca or a sea giraffe.
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