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InvisibleStonehenge
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Gold, how much really does the world have?
    #22236018 - 09/14/15 10:47 AM (8 years, 4 months ago)

"According to Russia’s Banki.ru, as part of a probe in the Admiralty bank, the central bank regulator questioned the existence of the bank’s reported quantity of precious metals held in reserve. Citing a source, Banki.ru notes that as part of its probe, instead of gold, the “regulator found gold-plated metal.”"

http://www.blacklistednews.com/Bank_Caught_Using_Fake_Gold_As_Reserve_Capital_In_Russia/46160/0/38/38/Y/M.html

I've heard estimates that there are over 200 oz of paper gold in existence for every ounce of "real" gold. ETF's are a major source of that discrepancy, demand is rising and supplies are limited. Why then is gold's price dropping? Its all a scam, when the musical chairs game comes to an end, there will be a scramble for physical and not enough to cover. If banks themselves are lying about how much gold they have and even using painted metal to fool inspectors, are we seeing a reverse bubble in gold prices?

Could the gold bugs be right? The music has to stop eventually and there are not enough 'chairs' for all the players. Some will be desperately short. This indicates a run on gold as banks and etf's have to cover some how. Many will go under. This is in addition to the other bad financial news world wide. We seem to have conditions for a perfect storm which could bring down not just banks and companies but whole governments. Printing tons more of paper might be their first action leading of course to every country doing the same in a race to the bottom. Gold shooting up will lead to silver doing the same.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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OfflineDivineO
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22236199 - 09/14/15 11:32 AM (8 years, 4 months ago)

Enough to horde.


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InvisibleLunarEclipse
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22244564 - 09/16/15 06:56 AM (8 years, 4 months ago)

You sort of answered your own question as to "why is the price of gold dropping"?  The paper gold is the huge tail wagging the little gold dog that may be gold plated.

Consider Ft. Knox.  How much if any gold is there if it doesn't get audited?  Consider the 400 oz. gold plated tungsten bars in "good delivery" LBMA vaults already found.  How many are "out there"?

For now at least, "we" the world, is in a disinflationary mode.  The real explanation is that growth has stalled because of ZIRP. All the "easy" money in housing and the stock market has already been made.  When one is in a bubble it's hard to even see outside of it and that's where we are, similar to 2006 when the world was "doing great".

Well the world, as you and I both know, is not "doing great".  Consider the HP layoffs, consider that 50%!!!! of student loans have been defaulted on, already!  The focus is on whether the Fed will raise 1/4% after 10 years, and ignoring just how shitty the economy really is.

As for gold, if it doesn't become "real money", then how much is it "really worth"? I don't expect a gold standard, but gold to be in the mix of the IMF SDR package as a "best case scenario" for increased gold prices.  But, with the IMF in control, how good will that be?


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Anxiety is what you make it.


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OfflineArctic W. Fox
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Re: Gold, how much really does the world have? [Re: LunarEclipse]
    #22244615 - 09/16/15 07:13 AM (8 years, 4 months ago)

When the end of the world comes, and you're standing in the war zone cold and hungry, and you find someone willing to sell you a blanket and a can of beans, paying for them using a $1000 gold piece just seems strange.

People will sell you gold all day long. When the time comes, will anyone be willing to buy at a fair price, or will your $1000 gold coin be worth $2.50?


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InvisibleLunarEclipse
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Re: Gold, how much really does the world have? [Re: Arctic W. Fox]
    #22244652 - 09/16/15 07:23 AM (8 years, 4 months ago)

Quote:

Arctic W. Fox said:
When the end of the world comes, and you're standing in the war zone cold and hungry, and you find someone willing to sell you a blanket and a can of beans, paying for them using a $1000 gold piece just seems strange.

People will sell you gold all day long. When the time comes, will anyone be willing to buy at a fair price, or will your $1000 gold coin be worth $2.50?




The notion of bartering for real goods with gold does seem fanciful.  I could see a time where pre-1964 silver coins could become accepted by stores in lieu of paper money, maybe.  Nowadays most stores won't even be able to stay open for even an hour when the power goes down.  They are married to the computer and a line to the credit card approvals. Then imagine if a real crisis hits, forget about buying, all that stuff gets looted.


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Anxiety is what you make it.


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InvisibleStonehenge
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Re: Gold, how much really does the world have? [Re: LunarEclipse]
    #22244801 - 09/16/15 08:26 AM (8 years, 4 months ago)

Since gold has kept its value for thousands of years, I expect it to continue being valuable and in demand for thousands more. Its ludicrous when people have more faith in fiat simply because they were brought up with it. No fiat money has kept any value for more than perhaps a few hundred years. The us dollar like many other currencies was once backed by gold and silver but has been fiat for many years and has lost the great majority of its purchasing power in that time.

The present day scandals of gold plated metal and paper gold mean that physical gold is way undervalued. This might be called a reverse bubble, not sure if there is a special name for that. When stuff hits the fan physical will shoot up in value while fiat drops like Hillary's poll numbers.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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InvisibleLunarEclipse
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22247185 - 09/16/15 05:46 PM (8 years, 4 months ago)

A reverse bubble could be a vacuum?


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Anxiety is what you make it.


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InvisibleStonehenge
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Re: Gold, how much really does the world have? [Re: LunarEclipse]
    #22247220 - 09/16/15 05:52 PM (8 years, 4 months ago)

Quote:

LunarEclipse said:
A reverse bubble could be a vacuum?




Yes, a shortage of real gold and an excess of fake gold or paper gold with little behind it. This is absolutely the best time to get into gold if you have funds sitting around. Silver too because its low right now compared to gold and if gold is undervalued then silver should shoot up. I wouldn't borrow money to buy gold or use the rent/ food money but anything you won't need in the need couple years might do very well in pm's. It might do very well before the end of the year.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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InvisibleLunarEclipse
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22247370 - 09/16/15 06:28 PM (8 years, 4 months ago)

Silver is a way better deal right now than gold.  Platinum at 150 bucks an ounce under gold is a better deal as well.


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Anxiety is what you make it.


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OfflineSpanishfly
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Re: Gold, how much really does the world have? [Re: LunarEclipse]
    #22313176 - 09/30/15 09:43 AM (8 years, 3 months ago)

Gold will ALWAYS be at a premium.  I think it is time to buy another sovereign.


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Invisiblezorbman
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22315659 - 09/30/15 06:39 PM (8 years, 3 months ago)

"There’s 20.7 cubic meters of gold in existence in today’s gold market. If all of the gold were to be gathered up and put into that cube, it would sell for $8.7 trillion dollars."



http://www.edirefining.com/blog/can-a-little-gold-go-a-long-way-a-look-at-global-circulation/


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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch


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InvisibleAsante
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Re: Gold, how much really does the world have? [Re: zorbman]
    #22322243 - 10/02/15 05:57 AM (8 years, 3 months ago)

And by contrast, how much silver is there :smile2:


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Invisiblezorbman
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Re: Gold, how much really does the world have? [Re: Asante]
    #22330839 - 10/03/15 11:29 PM (8 years, 3 months ago)

Quote:

Asante said:
And by contrast, how much silver is there :smile2:




All the silver in existence Visualized (Left Side):



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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch


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Invisiblelaughingdog
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Re: Gold, how much really does the world have? [Re: Stonehenge]
    #22341722 - 10/06/15 04:58 PM (8 years, 3 months ago)

real value:=
sanity
energy
health
intelligence
compassion

and such like

value of money and such like presupposes the above.

When your plane crashes in a jungle whats the paper, or metal in your pocket worth?


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OfflineStill_tripping
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Re: Gold, how much really does the world have? [Re: laughingdog]
    #22344949 - 10/07/15 11:38 AM (8 years, 3 months ago)

I was told by someone who should know that the world has approx 10 years supply of gold and that with mines taking about 7 years to go into production there will be upwards pressure on gold prices soon.


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OfflineBambi
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Re: Gold, how much really does the world have? [Re: Still_tripping]
    #22349274 - 10/08/15 09:29 AM (8 years, 3 months ago)

Interesting article about Belgium selling their gold reserves

http://seekingalpha.com/article/3558976-the-real-reason-belgium-sold-1098-tonnes-of-gold


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Invisiblemicro
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Re: Gold, how much really does the world have? [Re: Bambi]
    #22408299 - 10/20/15 09:14 AM (8 years, 3 months ago)

Plenty, because there are always countless weirdoes in every country who stockpile gold.

Then when shit REALLY hits the fan they sell it all for pasta rice and a small bit of meat.

Thus the cycle continues...


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