Wikileaks Discloses The Reason(s) Behind China's Shadow Gold Buying Spree

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Sat, 09/03/2011 - 19:17 | 1630293 DoChenRollingBearing
DoChenRollingBearing's picture

1/10 th oz (troy, +/- 2.84 grams (?) check my math someone!) US Gold Eagles will be about $200 now.  Maybe a bit more.

Sat, 09/03/2011 - 19:44 | 1630333 pods
pods's picture

1/10th troy is 3.11 g.

pods

Sat, 09/03/2011 - 22:03 | 1630523 DoChenRollingBearing
DoChenRollingBearing's picture

Thanks. can learn something everyday, even at 55...

Sun, 09/04/2011 - 00:05 | 1630673 sgorem
sgorem's picture

check out sgorem1949 on Ebay. just sold 4 x 2.5 grams(Pamps) for $700.00. Gonna be more come Monday morning for sure. Buy cheap, sell very high amigos.......

Sun, 09/04/2011 - 00:58 | 1630721 Cliff Claven Cheers
Cliff Claven Cheers's picture

Don't buy on ebay, you can save $100s buying through gainsville coins.

Sun, 09/04/2011 - 02:04 | 1630821 bob_dabolina
Sun, 09/04/2011 - 10:34 | 1631268 Absinthe Minded
Absinthe Minded's picture

2 year olds.

Sun, 09/04/2011 - 13:35 | 1631581 Ganja Jane
Ganja Jane's picture

Anyone else sick of this shit taking up their pixels?

Sat, 09/03/2011 - 19:50 | 1630343 Sgt.Sausage
Sgt.Sausage's picture

==> At that price, everybody can at least buy 1 per month.

Come live in my county. Median household income? $23,500. Average number of kids? 2.8. Try to support a wife, three kids, and a trailer and a pick-em-up on Bubba Joe's $1,900 a month (before taxes and expenses) and tell me "everybody" can do it.

There are folks who regularly, y'know, go in the hole deeper and deeper each month. And there are quite a lot of 'em.

Sat, 09/03/2011 - 20:24 | 1630387 snowball777
snowball777's picture

They're called condoms. Can't afford em? Don't have em!

Sat, 09/03/2011 - 18:22 | 1630171 Rynak
Rynak's picture

Gold isn't becoming more expensive - you are just becoming poorer and poorer.

Sat, 09/03/2011 - 19:45 | 1630334 pods
pods's picture

Bingo.  

Sun, 09/04/2011 - 08:13 | 1631146 N57Mike
N57Mike's picture

can the same be said of a barrel of oil? (it's not getting more expensive, being priced in dollars, and the dollar is getting less valuable)

Sun, 09/04/2011 - 14:55 | 1631745 Rynak
Rynak's picture

Not exactly, since oil is (at least in theory) strongly affected by supply and demand, because we used it for so many things, and both extraction and abundance is far from static. If anything, oil indeed IS something that will in the longterm only "go up" (unless an alternative for it is found). So, if what you want is making longterm profit, then OIL is the place to be, NOT gold!

With gold on the other hand, the only dynamic aspect about it.... that is, the only things that may affect it's supply and demand, is manipulation, and demand as a currency.

Manipulation can in the longterm only happen up to a certain degree - even with tens of years of price suppression, it reacts to fiat inflation in only one direction, even if perhaps less than it should.

That leaves demand as a currency as the only reason, for its exchange-value raising faster than inflation, or its exchange rate going down.

Phrased another way: Absent changes in using gold as money (or not using it for that), real gold value is static. After all, this is why fiat-proponents have such an interest in keeping gold exchange rate in submission... because a raising gold exchange rate can only mean one single thing: Lack of trust in fiat. Same the other way around (trust in fiat instead of gold). Thus, the exchange rate of gold really measures only one thing: Trust in hard assets vs trust in conceptual promises (i.e. fiat).

Sun, 09/04/2011 - 18:01 | 1632295 Ganja Jane
Ganja Jane's picture

I don't understand why this is such a hard concept for the American public to grasp.  *sigh*

Sat, 09/03/2011 - 20:25 | 1630390 RafterManFMJ
RafterManFMJ's picture

Who let the Queen of England on here?

Sat, 09/03/2011 - 17:38 | 1630065 Volaille de Bresse
Volaille de Bresse's picture

" At least our food isn't made out of plastic"

 

Well your cheeses and your burgers are...

Sat, 09/03/2011 - 17:39 | 1630068 Manzilla
Manzilla's picture

And our women are now too.

Sat, 09/03/2011 - 17:50 | 1630086 Tao 4 the Show
Tao 4 the Show's picture

A point I make often as well. Call me strange, but I'm not turned on by plastic.

Sat, 09/03/2011 - 18:01 | 1630106 Sudden Debt
Sudden Debt's picture

I'm not a "into details" kind of guy.

If a woman has a rack that wobbles if she shakes it. I'll take it.

Even if the bumper has been remodeld.

 

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