Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
Posted: Fri Sep 21, 2007 11:48 am Post subject: Re: Gold Confiscation: Will it happen again?
Heineken wrote:
Gold has proved its mettle for thousands of years. Case closed.
Yeah, being dug up out of the ruins. Oh look, someone hid some gold in a clay jar two thousand years ago. I wonder what happened to them.
I'll grant this, it still means a lot in the East, to the cultures of the Indian subcontinent where jewellery can act as a reserve of family wealth. You can see it in Europe too, the Asian urban areas and the concentration of such shops you often find. But there is a cultural framework out there, one that has been kept alive. If you had one, you lost it. Your common American or European wouldn't have the first clue what to do with gold, any more than they would know about setting themselves up in the furniture-making business. Sorry, but avarice is not a structure.
Possession itself means nothing. It's a straightforward enough matter to deprive an individual of it, especially if they are clueless (take note, not necessarily careless), and especially considering there is nothing else out there which will do a faster job of bringing out the nasty in people.
Gold appears to have held its value through the ages because at the end of the day we are apes drawn to shiny things, who would kill for a shiny thing rare enough. We cannot avoid that heritage, we must deal with it. But maybe it has not held its value continuously? Maybe it is unique in repeatedly regaining its value? With easily imaginable interludes where it may not only have had no value to a man, but presented him with an unnecessary burden and additional dangers?
Speaking generally (not attacking you, Heineken), people here need to drop the gold bug mindset for a moment and ask themselves whether they would be better off spending today's money on items of everyday utility than taking a gamble on something which may not develop the market they envisage within their lifetime. You don't want to be a wise Roman burying gold and silver coins under your house for someone to dig up centuries later.
It is a tempting reflex though, which should raise a flag of caution.
I do not regard precious metals highly as an investment, it fails the test of practicality for me.
Joined: Jun 13, 2007 Posts: 3894 Location: Minniesotuh
Posted: Fri Sep 21, 2007 1:16 pm Post subject: Gold could surpass US$1000 in "new cycle," Citigro
With gold having broken the US$730 per ounce market to reach a 28-year high, Citigroup analyst John Hill says the metal appears to be entering a new investment-driven phase and has re-asserted itself as a safe haven. He thinks gold will be one of the top beneficiary of the “Re-flationary Rescue,” which should bode well for hard assets and basic materials.
As for gold stocks, they “anticipated the move, and have fully, finally participated,” he told clients in a note.
The resurgence of gold conveniently coincides with the seasonal strength that typically comes with Western holidays, Indian festivals and the Chinese New Year. However, this could set up a correction early in 2008, Mr. Hill said.
However, Citigroup continues to be bullish on bullion, expected the multi-year bull market to continue and prices to average US$750 in 2008 and 2009.
Mr. Hill says he would not be surprised if gold were to break its all-time high of US$850, or even US$1000 or higher in a “new cycle of global credit creation and competitive currency devaluations." ...
Joined: Feb 01, 2006 Posts: 508 Location: Northern US
Posted: Fri Sep 21, 2007 3:42 pm Post subject: Re: Gold Confiscation: Will it happen again?
IMO, you can only buy so many 'everyday utility' items. Two shovels, two picks, two sledges, two axes, and then there is paper money left over.
After BB's 50bp cut in the suggested rate, the FRN's are becoming toilet paper.
PM's aren't the only answer, but they play their part in a well-rounded approach to long-term preservation.
Kinda like insurance, you buy and pay for it, hoping you will never have to use it.
Joined: Sep 14, 2004 Posts: 6607 Location: Rural Virginia
Posted: Fri Sep 21, 2007 9:22 pm Post subject: Re: Gold Confiscation: Will it happen again?
Twilight wrote:
Heineken wrote:
Gold has proved its mettle for thousands of years. Case closed.
Yeah, being dug up out of the ruins. Oh look, someone hid some gold in a clay jar two thousand years ago. I wonder what happened to them.
I'll grant this, it still means a lot in the East, to the cultures of the Indian subcontinent where jewellery can act as a reserve of family wealth. You can see it in Europe too, the Asian urban areas and the concentration of such shops you often find. But there is a cultural framework out there, one that has been kept alive. If you had one, you lost it. Your common American or European wouldn't have the first clue what to do with gold, any more than they would know about setting themselves up in the furniture-making business. Sorry, but avarice is not a structure. ...
I do not regard precious metals highly as an investment, it fails the test of practicality for me.
Well, sooner or later everything ends up in the ground, including one's own bones. I don't see the point of your argument about someone else digging up one's gold centuries later. After all, I'm not claiming that gold confers eternal life.
I do agree that there are better things to invest in than gold: primarily, the infrastructure for survival---land, water, housing, guns, etc.
But once those requirements have been met, what do you see as a better investment than gold for one's excess cash, given current directions? Stocks, bonds, cash? That's all paper and promises that will blow away with the wind. It won't even be around to be dug up someday.
It all comes down to one's means, Twilight. Topcat said it well. _________________ "Actually, humans died out long ago."
---Abused, abandoned hunting dog
"Things have entered a stage where the only change that is possible is for things to get worse."
---Me and my brother
Posted: Fri Oct 12, 2007 6:17 pm Post subject: US Mint Halts Sales of Gold Buffalos
First it was the "W" Eagles. The date they announced for resuming sales has come and gone. Now it's the Buffalos turn. Whatever the real cause, the stated reason of "price adjustment" holds no water: USMint
This guy reports on a "mini surge" in sales before the halt: Numismaster
Posted: Thu Nov 08, 2007 9:21 am Post subject: Gold and currencies... What statistics should I follow?
I do not want to hold my short term savings in dollars anymore. Washington has shown it cannot maintain a stable currency. I have a feeling the petrol states will soon trade in Euros; we all know what that means.
What currencies look promising over the course of the next 6 months - year?
When is a good time to buy gold (as in favorable 24 hour market conditions)? There was a price jump a month ago because of all the Wall St credit scares. I think the credit crisis will not subside for at least 10 more months. Does that make gold look more favorable in the near term?
Simply put. How should I hold my short term savings (6months – 1 year) when economic times look bad for working people such as myself?
I would never buy gold from someone I don't know. How can someone buy gold locally? Do banks sell standardized quantities of gold over the counter at the current NYSE market price?
What gold markets should I watch?
Joined: Oct 11, 2005 Posts: 258 Location: Southern USA
Posted: Tue Dec 04, 2007 1:20 am Post subject: THE Precious Metals Thread (merged)
I have several 1/10 oz. Gold American Eagles 2006 I'd like to sell online. I also have some 1 oz. Silver American Eagles as well. Is there a reputable place online anyone knows of where I can sell without a minimum order?
Joined: Oct 04, 2004 Posts: 5695 Location: Body in OK, Heart in TX
Posted: Tue Dec 04, 2007 2:36 am Post subject: Re: Best place to sell bullion coins online?
These guys are reputable, but I don't know if they have minimums or how their offers will compare with others, as I have not sold to them. You can call and talk to them, though, or email. They have always been helpful and responsive to me.
There's also eBay...
Probably some others will have more detailed advice. I posted because I like to let people know about that site I mentioned as I was very satisfied when I bought from them. I went to their office in person; they are in a bank building in Austin. At that time their markup was quite reasonable, and as I said I am confident they are reputable. _________________ "Every junkie's like a setting sun..." - Neil Young
Joined: Oct 11, 2005 Posts: 258 Location: Southern USA
Posted: Wed Dec 05, 2007 1:43 am Post subject: Re: Best place to sell bullion coins online?
Quote:
You better have a really good reason to exchange your bullion for paper money in this environment.
I do.
And I plan to reaquire what I sell and add to my holdings. I would like to have 75% of the minimum gold and silver I need by years end. This economy is so shaky right now.
I will just have to "white-knuckle" it until then.
You cannot post new topics in this forum You cannot reply to topics in this forum You cannot edit your posts in this forum You cannot delete your posts in this forum You cannot vote in polls in this forum
News
Discussions
Resources
Members
Forum FAQ
Search
Usergroups
Profile
Log in to check your private messages
Log in
