[theluckycountry]

Central banks bought the most gold on record last year

LONDON, Jan 31 (Reuters) - (This Jan. 31 story has been officially corrected to say that 2022 central bank gold demand was the highest in records since 1950, not since 1967) Central banks added a whopping 1,136 tonnes of gold worth some $70 billion to their stockpiles in 2022...

Central banks like gold because it is expected to hold its value through turbulent times and, unlike currencies and bonds, it does not rely on any issuer or government. Gold also enables central banks to diversify away from assets like U.S. Treasuries and the dollar.

"This is a continuation of a trend," said World Gold Council analyst Krishan Gopaul.
Banks including those of Turkey, China, Egypt and Qatar said they bought gold last year. But around two-thirds of the gold bought by central banks last year was not reported publicly, the WGC said.

Banks that have not regularly published information about changes in their gold stockpiles include those of China and Russia.

https://www.reuters.com/markets/commodi ... 023-01-31/

The trend is your friend.

[AdamB]

The trend is your friend.

Indeed. DJIA up nearly 5% this month. YEAH BABY!!

[noobtube]

But having been tricked into buying some gold back with the typical PM claims back in the early 80's, and 401k's becoming available back then as well, I only know that those 401k's delivered far more value than appreciating gold ever did. Probably for others as well, as no one on this site has ever claimed to have lived in Germany since WWI and suffered through that induced currency devaluation, but some of us probably have money in 401k's.

You sound like the opposite of the guys in the 1930s, 40s, and 50s who would never trust the stock market (or the banks) because of what happened in 1929/1933.

In 2006, it was at the other extreme, where everyone had complete faith in the banks and the stock market. Saw how that turned out.

In 2023, the swing is heading back toward gold because the rich don't trust the banks and are worried about the stock market.

In the 1980s-90s, the stock market boomed because easy credit was helped by Alaskan Oil, the Plaza Accords, military spending, the collapse of the Soviet Union, Intel/internet/Y2K, and the birth of the credit card.

There is no more new oil. No big countries are sacrificing themselves for the United States today. Russia is bigger and better than ever. There are shortages of products all over the place. I am seeing power outages never seen in the 1980s and 1990s. Some credit card interest rates today would have been illegal in the 1980s/90s. And, what is the deal with all these casinos? The credit system justifies paying an athlete $30 million/yr, to produce what exactly?

In other words, now the United States has to compete. Except, it has all these outdated businesses (Amazon, insolvent banks, too many retail stores and brands, too many car companies, too much commercial office space, to name some of the waste).

The stock market and the United States dollar are based on credit from an obsolete economic model. And, we all see the result... wild amounts of waste and inefficiency like some planned economy (oh wait, the United States IS a planned economy).

The United States is built on a 20th century financial model when this is the 21st century.

The only money is gold and silver, all else is credit. Money is real. Credit is not.

[ralfy]

Money is part of the credit market, and there's a reason why even gold and silver are valued in dollars.

Meanwhile, gold and silver have little value other than money.

[noobtube]

Money is part of the credit market, and there's a reason why even gold and silver are valued in dollars.

You have it backwards... dollars are priced in gold.

Look at any chart on precious metals. They price currencies in terms of precious metals (money) by ounce, pound, or ton.

The dollar is imaginary and it's "price" has to be SET in terms of REAL value.

Dollars are as imaginary as bitcoin, because they are credit. They are not real.

Meanwhile, gold and silver have little value other than money.

I think Central Banks around the world know it has more than a "little" value.

[AdamB]

You sound like the opposite of the guys in the 1930s, 40s, and 50s who would never trust the stock market (or the banks) because of what happened in 1929/1933.

In 2006, it was at the other extreme, where everyone had complete faith in the banks and the stock market. Saw how that turned out.

Indeed. Do you know how much there was to be made after the 2008 recession for those who stayed in the market? Holy momma!

In the 1980s-90s, the stock market boomed because easy credit was helped by Alaskan Oil, the Plaza Accords, military spending, the collapse of the Soviet Union, Intel/internet/Y2K, and the birth of the credit card.

The roaring 80's were certainly pretty roaring! Can you imagine that Jimmy Carter had decladed in the late 1970's that the world was going to run out of oil by the end of the 1980's? Pesky oil companies, not paying attention to what the President claimed!

There is no more new oil.

That's exactly what Jimmy said!! Come to think of it, seems like peak oilers began claiming the same thing in 1990 when Colin Campbell announced global peak for the following year. Can you believe they just kept doing it for years and years after that when it just...didn't...happen?

The stock market and the United States dollar are based on credit from an obsolete economic model.

Could be. No one said capitalism would last forever, but if any exceptional people could make it happen, it would be Americans.

The United States is built on a 20th century financial model when this is the 21st century.
The only money is gold and silver, all else is credit. Money is real. Credit is not.

Tell that to my credit card I used to buy that gold back in the early 1980's. Paid off the credit card with wages, kept the gold forever because it wasn't worth much of anything for another couple decades.

[noobtube]

Indeed. Do you know how much there was to be made after the 2008 recession for those who stayed in the market? Holy momma!

See, that's the thing. No money was made after 2008. It simply moved from one group to another. The old got the benefits. The young got the bill.

To me, 2008 was the end of the United States as a wealth-creating society. It was the last gasp, and I believe future generations will agree.

And, look how things are today, in 2023. The young are drowning in debts you old geezers created from 'making money' after 2008. What was it? Land? stocks? bonds? It was price appreciation which was inflation of credit, not money creation. As the credit disappears, so do those prices. But, not for money. It buys when the credit is gone (or very limited). And, that is when money is made.

It was the illusion of wealth without being wealthy. But, that's good because the clueless thought they were wealthy holding nothing but promises of payment, IOUs, and over-priced real estate, so that the actual, valuable, REAL stuff is still available.

In the 1980s-90s, the stock market boomed because easy credit was helped by Alaskan Oil, the Plaza Accords, military spending, the collapse of the Soviet Union, Intel/internet/Y2K, and the birth of the credit card.

The roaring 80's were certainly pretty roaring! Can you imagine that Jimmy Carter had decladed in the late 1970's that the world was going to run out of oil by the end of the 1980's? Pesky oil companies, not paying attention to what the President claimed!

That's exactly what Jimmy said!! Come to think of it, seems like peak oilers began claiming the same thing in 1990 when Colin Campbell announced global peak for the following year. Can you believe they just kept doing it for years and years after that when it just...didn't...happen?

You do know the stuff they call "oil" today is not the oil of Jimmy Carter's day. Today they include a bunch of other stuff to the point that only 60% of today's oil is the same as 50 years ago. Once again, the US government has convinced you that the imaginary is real and the real is imaginary.

But, people like to believe in fairy tales and made up nonsense like the US is an oil exporter, so I will leave them to their delusions.

The stock market and the United States dollar are based on credit from an obsolete economic model.

Could be. No one said capitalism would last forever, but if any exceptional people could make it happen, it would be Americans.

The United States is built on a 20th century financial model when this is the 21st century.
The only money is gold and silver, all else is credit. Money is real. Credit is not.

Tell that to my credit card I used to buy that gold back in the early 1980's. Paid off the credit card with wages, kept the gold forever because it wasn't worth much of anything for another couple decades.

The gold wasn't worth much of anything? Really? But, you kept it anyway? Okay.

[AdamB]

Indeed. Do you know how much there was to be made after the 2008 recession for those who stayed in the market? Holy momma!

See, that's the thing. No money was made after 2008. It simply moved from one group to another. The old got the benefits. The young got the bill.

Perhaps I was unclear about what I meant by jumping in? As it wasn't age dependent. I rode out the crash, and then got back in shortly after the rebound began. Rising tide and all that, and anyone of any legal age could have ridden the same tide, if they had gotten into the markets then.

As for the young getting the bill, not at all.

To me, 2008 was the end of the United States as a wealth-creating society. It was the last gasp, and I believe future generations will agree.

Well, it wasn't bad for a super duper wealth creation mechanism in the markets. As for future generations, well, I was once a future generation, and it still worked way back then, up and through it working for us now old farts.

You do know the stuff they call "oil" today is not the oil of Jimmy Carter's day.

Seeing as how I was around in Jimmy's day, preparing for my oily career, and was also an old oil man, I can personally vouch for oil back then being the same greasy feeling hydrocarbon at both ends of my career. Someone who hasn't in their life drilled for, completed, produed, sold, and kept doing this oily stuff might not know any of this, but that's why they aren't oil men and instead just...jabber...about oil.

Today they include a bunch of other stuff to the point that only 60% of today's oil is the same as 50 years ago. Once again, the US government has convinced you that the imaginary is real and the real is imaginary.

Nope. You are talking about "other liquids" and whatnot, HGLs, etc etc. Crude oil is still crude oil. You can call a cow a dog, but that doesn't make it one. Same thing with oil.

But, people like to believe in fairy tales and made up nonsense like the US is an oil exporter, so I will leave them to their delusions.

The US both imports and exports, imports a bunch of oil, turns it into finished products, and then sells diesel and kerosene and all sorts of manufactured products around the world. Oil wise, it is about break even. Learn the definitions of hydrocarbons, and how refineries work, and no one falls for the "it ain't url!" routine.

The United States is built on a 20th century financial model when this is the 21st century.
The only money is gold and silver, all else is credit. Money is real. Credit is not.

Tell that to my credit card I used to buy that gold back in the early 1980's. Paid off the credit card with wages, kept the gold forever because it wasn't worth much of anything for another couple decades.

The gold wasn't worth much of anything? Really? But, you kept it anyway? Okay.

What would I sell it for? I bought it in the early 80's, same ol' story the gold bugs are selling today, world ending, high inflation, buy gold...blah blah blah. Sound familiar? And then the price crashed and it wasn't worth what I paid for it. It isn't currency, you just can't whip it out and hand it to the cabby for a ride or buy groceries at the store, so it just sat. Markets treated me far better than what the gold appreciated to, even at todays prices. So the gold just sits. Market investments have whupped it hands down, and those I can liquidate and do stuff with. The wife and kids can figure out what to do with it when I die.

[noobtube]

Perhaps I was unclear about what I meant by jumping in? As it wasn't age dependent. I rode out the crash, and then got back in shortly after the rebound began. Rising tide and all that, and anyone of any legal age could have ridden the same tide, if they had gotten into the markets then.

So, anyone could have gotten on the same ride, if they could afford it? The young needed to already have disposable income, they could afford to lose. I guess the young got in the market with their years of accumulated earnings. But, if that were the case, they wouldn't be young, would they?

Everything after 2008 was nothing but bailouts, giveaways, and handouts to the old by the US government. It was wildly unproductive spending on the very old people who ran the country into the ground. Interest rates crashed as a result, encouraging more subsidies to failed businesses, which created asset bubbles in home prices, stocks, and bonds.

Competitive and productive businesses were crowded out to protect the old way of doing business, which the old geezers liked that donated to the politicians. So, you get scam after scam after scam that feeds the ego of the old-timers (Nikola, Theranos, WeWork, FTX, BlackRock, etc.) and destroyed immense amounts of productive capital.

But, as long as the gray-beards FEEL rich, I suppose it's all good.

To me, 2008 was the end of the United States as a wealth-creating society. It was the last gasp, and I believe future generations will agree.

Well, it wasn't bad for a super duper wealth creation mechanism in the markets. As for future generations, well, I was once a future generation, and it still worked way back then, up and through it working for us now old farts.

You were a future generation when there still were resources to be wasted. And, your generation did a great job of wasting those resources so there's hardly much left for anyone else.

Can't afford to maintain the road network, the bridges, the water system, the military, the airports, the food supplies... but as long as you had a good life, I suppose the young should be happy doing all the work to pay for the repair and replacement of all this stuff.

You do know the stuff they call "oil" today is not the oil of Jimmy Carter's day.

Seeing as how I was around in Jimmy's day, preparing for my oily career, and was also an old oil man, I can personally vouch for oil back then being the same greasy feeling hydrocarbon at both ends of my career. Someone who hasn't in their life drilled for, completed, produed, sold, and kept doing this oily stuff might not know any of this, but that's why they aren't oil men and instead just...jabber...about oil.

You miss my point. The government changed how it counted credit, jobs, cars, businesses, gdp, anything that doesn't fit the political narrative. The oil count from the 1970s IS NOT the oil count of 2023.

Today they include a bunch of other stuff to the point that only 60% of today's oil is the same as 50 years ago. Once again, the US government has convinced you that the imaginary is real and the real is imaginary.

Nope. You are talking about "other liquids" and whatnot, HGLs, etc etc. Crude oil is still crude oil. You can call a cow a dog, but that doesn't make it one. Same thing with oil.

You need to tell that to the United States government. They seem to think they can call a cow a dog. And, yet, everyone just seems to go along with it. They tell you a man is a woman in-transition and a homeless person is just temporarily dis-housed.

But, people like to believe in fairy tales and made up nonsense like the US is an oil exporter, so I will leave them to their delusions.

The US both imports and exports, imports a bunch of oil, turns it into finished products, and then sells diesel and kerosene and all sorts of manufactured products around the world. Oil wise, it is about break even. Learn the definitions of hydrocarbons, and how refineries work, and no one falls for the "it ain't url!" routine.

One thing that is not in dispute, the US IS NOT oil independent.

The United States is built on a 20th century financial model when this is the 21st century.
The only money is gold and silver, all else is credit. Money is real. Credit is not.

Tell that to my credit card I used to buy that gold back in the early 1980's. Paid off the credit card with wages, kept the gold forever because it wasn't worth much of anything for another couple decades.

The gold wasn't worth much of anything? Really? But, you kept it anyway? Okay.

What would I sell it for? I bought it in the early 80's, same ol' story the gold bugs are selling today, world ending, high inflation, buy gold...blah blah blah. Sound familiar? And then the price crashed and it wasn't worth what I paid for it. It isn't currency, you just can't whip it out and hand it to the cabby for a ride or buy groceries at the store, so it just sat. Markets treated me far better than what the gold appreciated to, even at todays prices. So the gold just sits. Market investments have whupped it hands down, and those I can liquidate and do stuff with. The wife and kids can figure out what to do with it when I die.

I totally agree that gold is not currency. Gold IS money. Currency is the local unit for paying taxes. That is the only reason currency exists. It is used to pay taxes to the government.

Money on the other hand is used to buy things. It is a final form of payment. Currency, the way it operated after 1971, is a debt instrument. The government spent it into existence, from a bond (or IOU). Currency is only as good as the government. Gold is mined from the ground. There is no debt nor any government attached to it. The gold existed before any government and will exist once the government is long dead. It is real and eternal.

[AdamB]

Perhaps I was unclear about what I meant by jumping in? As it wasn't age dependent. I rode out the crash, and then got back in shortly after the rebound began. Rising tide and all that, and anyone of any legal age could have ridden the same tide, if they had gotten into the markets then.

So, anyone could have gotten on the same ride, if they could afford it?

Of course. Sometimes these things are just timing, good or bad.

You were a future generation when there still were resources to be wasted. And, your generation did a great job of wasting those resources so there's hardly much left for anyone else.

I'm betting all prior generations do a good job of wasting resources.

Can't afford to maintain the road network, the bridges, the water system, the military, the airports, the food supplies... but as long as you had a good life, I suppose the young should be happy doing all the work to pay for the repair and replacement of all this stuff.

You might not have noticed but all those things you've mentioned are still around, still being useful and doing stuff. Sure, there is strain under the growing population, but that is also a normal part of growth, be it population or economic. I do't know what the young SHOULD be, other than I've got kids and they appear to be doing what modern kids do, one is blazing ahead at warp speed and the other is happy to go with the flow, get educated, stay with his family (as compared to the other who is happy to live close enough to visit but wants her own space).

The oil count from the 1970s IS NOT the oil count of 2023.

Prove it. I've dealt professionally with folks across the entire academic, scientific, indsutry and governmental realm when it comes to oil, and its definition and range of chemical composition hasn't changed in my 40+ years of experience. Are you sure YOU know what oil is?

You are talking about "other liquids" and whatnot, HGLs, etc etc. Crude oil is still crude oil. You can call a cow a dog, but that doesn't make it one. Same thing with oil.

You need to tell that to the United States government. They seem to think they can call a cow a dog. And, yet, everyone just seems to go along with it. They tell you a man is a woman in-transition and a homeless person is just temporarily dis-housed.

Could care less about what the government does for cows, dogs, or gender confused. Oil I care about, and the folks that matter do things just fine, and explain it to anyone who understands that you don't get oil information from ill-informed McPeaksters who need to find any excuse for being so ignorant on the topic for 33 years across just the modern peak oil era, let alone the historical time frame.

One thing that is not in dispute, the US IS NOT oil independent.

We are close, but I won't argue "close" versus "for certain". I will state that the US has been a net energy exporter since 2019 and if we are talking imports, exports and manufactured petroleum products, we cracked that nut late last year.
So the one thing for certain is this, the halfwits that don't understand resource discovery and use sure never saw either of these coming because their faith wouldn't let them. I recommend less religion, more science, experts, etc etc.

What would I sell it for? I bought it in the early 80's, same ol' story the gold bugs are selling today, world ending, high inflation, buy gold...blah blah blah. Sound familiar? And then the price crashed and it wasn't worth what I paid for it. It isn't currency, you just can't whip it out and hand it to the cabby for a ride or buy groceries at the store, so it just sat. Markets treated me far better than what the gold appreciated to, even at todays prices. So the gold just sits. Market investments have whupped it hands down, and those I can liquidate and do stuff with. The wife and kids can figure out what to do with it when I die.

I totally agree that gold is not currency. Gold IS money. Currency is the local unit for paying taxes. That is the only reason currency exists. It is used to pay taxes to the government.

Interesting angle, but I assure you I use currency to do more than pay taxes. Just sold a motorcycle for some currency. Plan on spending said currency to collect a different one. Currency worked fine. Gold just sits in a safe in the closet and does nothing but...well...nothing really. Haven't bought a single thing in my lifetime with gold, so if you can find people to trade it to for normal every services and goods, well good for you. In my lifetime, there has been zero need.

[noobtube]

Perhaps I was unclear about what I meant by jumping in? As it wasn't age dependent. I rode out the crash, and then got back in shortly after the rebound began. Rising tide and all that, and anyone of any legal age could have ridden the same tide, if they had gotten into the markets then.

So, anyone could have gotten on the same ride, if they could afford it?

Of course. Sometimes these things are just timing, good or bad.

Good timing would be buying Apple when it first started. Or, getting into the oil business before Alaska came online. Or, being born just after your country won a war and all its factories were intact. That's not what happened in 2008-2010. That was economic sabotage. The old who destroyed the economy, not only were not punished, but were saved!

And, none of these clowns went to jail. That is what you call complete dysfunction and a failure of leadership.

Can't afford to maintain the road network, the bridges, the water system, the military, the airports, the food supplies... but as long as you had a good life, I suppose the young should be happy doing all the work to pay for the repair and replacement of all this stuff.

You might not have noticed but all those things you've mentioned are still around, still being useful and doing stuff. Sure, there is strain under the growing population, but that is also a normal part of growth, be it population or economic. I do't know what the young SHOULD be, other than I've got kids and they appear to be doing what modern kids do, one is blazing ahead at warp speed and the other is happy to go with the flow, get educated, stay with his family (as compared to the other who is happy to live close enough to visit but wants her own space).

So, you got nice new things in your youth. Today's youth get your hand-me-downs. Yet, the young are supposed to be grateful. When you were young, you got new houses, new cars. Your children get old houses, and old cars. Your stuff was paid for. Young people's stuff is all on debt. But that's okay. Every generation does it. Uh no. Your generation did it. The next generation has to pay for it.

The only reason why your children will not be upset is because they get an inheritance. Otherwise, they would be like so many other young people and ready to check out. You don't seem to realize there are millions of young men out there who do nothing all day but watch TV, watch movies, watch sports, and just watch life pass them by because your generation destroyed their future plundering the country's natural resources while taking no responsibility for it.

The oil count from the 1970s IS NOT the oil count of 2023.

Prove it. I've dealt professionally with folks across the entire academic, scientific, indsutry and governmental realm when it comes to oil, and its definition and range of chemical composition hasn't changed in my 40+ years of experience. Are you sure YOU know what oil is?

Did a quick search on Gooble.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m

If you are telling me that magical increase in oil production in 2011 is normal extraction output, then I guess you'll believe anything that fits your narrative.

Nothing, not zinc, iron, aluminum, gold, steel production just magically increases in output like that, for that many years, out of the blue, and no war. No new extraction technology. No new field discoveries. No new distribution outlets. Yet, decades of declines just magically reversed when Occupy Wall Street was going strong, gold prices shot through the roof, and gas hit $4/gallon. Yeah, it had nothing to do with the US government changing the definition of what they call 'oil'.

That chart looks like something you see on US national debt, not REAL commodity extraction.

One thing that is not in dispute, the US IS NOT oil independent.

We are close, but I won't argue "close" versus "for certain". I will state that the US has been a net energy exporter since 2019 and if we are talking imports, exports and manufactured petroleum products, we cracked that nut late last year.
So the one thing for certain is this, the halfwits that don't understand resource discovery and use sure never saw either of these coming because their faith wouldn't let them. I recommend less religion, more science, experts, etc etc.

Anyone can see the US has gotten poorer not richer in the past twenty years. All these claims about all this resource abundance sure isn't seen at the gas pump, or the grocery store, or the shopping mall.

Why are diesel prices still so sky high if there is so much oil? Why is Joe Biden begging Saudi Arabia to pump more oil, if the US has so much? Why does the US allow its allies to buy Russian oil, if the US has so much? Why are people driving cars that run on batteries, instead of oil, if the US has so much? Your claims are not supported by what people are actually doing.

Interesting angle, but I assure you I use currency to do more than pay taxes. Just sold a motorcycle for some currency. Plan on spending said currency to collect a different one. Currency worked fine. Gold just sits in a safe in the closet and does nothing but...well...nothing really. Haven't bought a single thing in my lifetime with gold, so if you can find people to trade it to for normal every services and goods, well good for you. In my lifetime, there has been zero need.

There is this thing some people call Gresham's Law. "Bad money pushes out good money." If people can use paper to get what they want, and keep the gold, people keep the gold and get rid of the paper. Why? Because paper is worthless but gold is not. The paper is there for one reason only, to pay taxes. That is why the US government FORCES you to use it. No way people would willingly use any currency, if they were not forced to do it.

The fact you did not use gold to buy anything, is a FEATURE, not a bug. If you had to lose your gold to buy a meal, you are getting poorer, not richer. But, when you can get rid of worthless paper to get a meal, you can keep your gold and maintain your wealth.

Since the 1980s, if you kept a 1980s dollar, it would be worth a fraction of what you could get then. If you kept that gold from the 1980s, you could still buy the same amount of stuff. Gas was $1 gallon in 1980. Today it is $3.50. In 1980, bag of chips was 50 cents. Today, it is $3. In 1980, a Cadillac was $15,000. Today it is $75,000. In 1980, an ounce of gold was $600. Today, it is $2000. In 1980, median home price was $55000. Today it is $378000.

If you kept the dollars, the paper currency, you lost in every single case, BIG! With the gold, you can buy nearly the same stuff, you could in 1980, except for inflated home prices. And, I mentioned earlier that was a result of government bailouts. Gold did its job. It preserved the wealth from the 1980s to today. It was stable, secure, and delivered for decades. Yet, you still aren't happy. I'm not sure what more you could want out of money.

[AdamB]

So, anyone could have gotten on the same ride, if they could afford it?

Of course. Sometimes these things are just timing, good or bad.

Good timing would be buying Apple when it first started.

Or gotten into the market in the early 1980's.

Can't afford to maintain the road network, the bridges, the water system, the military, the airports, the food supplies... but as long as you had a good life, I suppose the young should be happy doing all the work to pay for the repair and replacement of all this stuff.

You might not have noticed but all those things you've mentioned are still around, still being useful and doing stuff. Sure, there is strain under the growing population, but that is also a normal part of growth, be it population or economic.

So, you got nice new things in your youth.

Not sure what you're talking about. I grew up hillbilly on a dirt road in Appalachia, and had nothing. Well, I had traps and firearms, but those were working tools.

Today's youth get your hand-me-downs. Yet, the young are supposed to be grateful.

My oldest bought her own stuff, no hand me downs from dad. She has earned everything she has got for herself. What kind of youth are you familiar, lazy and hung up in social media nonsense?

When you were young, you got new houses, new cars.

Boy are you off base. When I was young I shared a bedroom with my sister, in a house my grandfather built, on 100 acres of woodlands, and he didn't own a new car, but an old truck, grandma had a used car to go to church, and I owned nothing until I got kicked out of the house, and bought a motorcycle in my sophomore year of college. What kind of privileged life did you have to think others had the same?

Your children get old houses, and old cars.

You can't get anything right can you? My kid bought a nice new house, and yes, we did give her a nice car. She bought her own new motorcycle.

The only reason why your children will not be upset is because they get an inheritance. Otherwise, they would be like so many other young people and ready to check out.

My wife gets the inheritance, not the kids.

You don't seem to realize there are millions of young men out there who do nothing all day but watch TV, watch movies, watch sports, and just watch life pass them by because your generation destroyed their future plundering the country's natural resources while taking no responsibility for it.

I understand that the new generations know nothing of hardship, hunting and fishing for food or working on the farm for both sustinance and income. Good thing I didn't teach my kids to be lazy and stupid and become this vision you seem familiar with. Are you one of these lazy young people and see this personally?

The oil count from the 1970s IS NOT the oil count of 2023.

Prove it.

Did a quick search on Gooble.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
If you are telling me that magical increase in oil production in 2011 is normal extraction output, then I guess you'll believe anything that fits your narrative.

Can't be bothered to read the title of your own reference. Notice that "other liquids" part? I guess not. I asked you to prove it, not demonstrate that, as I said, you don't even know what oil is any more than the rest of the amateur hour. You should have googled better, better yet, on YOUR reference at the top, there is this thing. Called a link. It's called " crude oil production". Are you one of these young people that can't even figure out where the real oil information is when THE LINK IS ON YOUR OWN REFERENCE? No wonder you have a poor opinion of folks, your contemporaries perhaps?

Nothing, not zinc, iron, aluminum, gold, steel production just magically increases in output like that, for that many years, out of the blue, and no war.

Your reference does whatever it does, but it isn't oil. Do try and pretend I haven't already told you this.

Do you know what PEBCAK is? You. problem exists between chair and keyboard.

Anyone can see the US has gotten poorer not richer in the past twenty years. All these claims about all this resource abundance sure isn't seen at the gas pump, or the grocery store, or the shopping mall.

Pick your metric. Like you did with oil, but this time get it right and don't claim stupid stuff. And then we can talk about that metric, or others, as what defines poor and rich in America.

Why are diesel prices still so sky high if there is so much oil?

It's called a market. It involves buyers and sellers. Google it up, and try harder than last time.

Why are people driving cars that run on batteries, instead of oil, if the US has so much?

Because my EVs have far lower costs per mile than my ICE antiques, and are fueled by solar panels on the roof of the garage. Where have you been for the last decade as EVs have been exploding in sales?

Your claims are not supported by what people are actually doing.

I'm not making claims, you are. "Oil isn't oil"....geez. And some of my claims certainly are supported, there are 6 EVs on my street alone, and two of us using solar panels to power them. Where do you live, in some backwoods MAGA land where nose picking is an art?

The fact you did not use gold to buy anything, is a FEATURE, not a bug. If you had to lose your gold to buy a meal, you are getting poorer, not richer. But, when you can get rid of worthless paper to get a meal, you can keep your gold and maintain your wealth.

I agree. I keep my gold because it isn't something you pass out and is mostly useless, and worthless paper is as worthless as what people give me for it. Cars, food, motorcycles, etc etc. Sounds like that paper sure ain't worthless!

Since the 1980s, if you kept a 1980s dollar, it would be worth a fraction of what you could get then. If you kept that gold from the 1980s, you could still buy the same amount of stuff.

The market investments have grown more than the gold has appreciated. It is real versus nominal comparisons. Go look it up, and maybe you won't pretend you are talking to another noob.

If you kept the dollars, the paper currency, you lost in every single case, BIG! With the gold, you can buy nearly the same stuff, you could in 1980, except for inflated home prices.

And if you put that dollar in the market, you'd have even more dollars and could buy even more stuff than the gold! Markets good! Gold less so. Plus I can convert market gains into worthless paper, and buy more stuff than if I liquidated the gold and got fewer worthless pieces of paper. Are you pretending to not understand this, or are you one of those young and uninformed folks watching TV all the time you appear to be so familiar with?

[noobtube]

Or gotten into the market in the early 1980's.

In other words, if you were old. That was 43 years ago! Whole generations have been born since then.

So, you got nice new things in your youth.

Not sure what you're talking about. I grew up hillbilly on a dirt road in Appalachia, and had nothing. Well, I had traps and firearms, but those were working tools.

You had "nothing". But, then you say...

When I was young I shared a bedroom with my sister, in a house my grandfather built, on 100 acres of woodlands

Really? You were so-disadvantaged and poor with your 100 acres of land? I mean, do you realize how ridiculous that sounds (or looks)?

And, you inherited a house... your family BUILT!

I am always amazed at the pure sense of entitlement in the United States. You do know there are millions upon millions of Americans who had ZERO acres of land for their use, EVER, their entire lives? They never had any family member build a house for them. And, they spent their entire lives renting. But, yet, you were sooooo poor.

Wow.

When you were young, you got new houses, new cars.

Boy are you off base. When I was young I shared a bedroom with my sister, in a house my grandfather built, on 100 acres of woodlands, and he didn't own a new car, but an old truck, grandma had a used car to go to church, and I owned nothing until I got kicked out of the house, and bought a motorcycle in my sophomore year of college. What kind of privileged life did you have to think others had the same?

There are many youth, who did everything they were told, followed the rules, went to school, and couldn't go to college without a mountain of debt. There were no jobs to buy a motorcycle. And, if they graduated, there were no jobs in their field. You enjoyed all the benefits of a society that built everything for you, and what gratitude do you show, after all these years?

You lived a privileged, insulated life. You didn't have to worry about old geezers letting in wave after wave of immigrants to take all the high-paid technical jobs for "free markets" and "profits" and "efficiency." It was all just a way for old people to rob from the young for a quick buck, while destroying the country's future.

How much college debt did you have? How long did it take to buy that motorcycle? How long before you got a career doing what you wanted to do? These are all privileges you enjoyed, and took for granted. You got something in your youth, that is rarely seen today.

Your children get old houses, and old cars.

You can't get anything right can you? My kid bought a nice new house, and yes, we did give her a nice car. She bought her own new motorcycle.

The only reason why your children will not be upset is because they get an inheritance. Otherwise, they would be like so many other young people and ready to check out.

My wife gets the inheritance, not the kids.

You don't seem to realize there are millions of young men out there who do nothing all day but watch TV, watch movies, watch sports, and just watch life pass them by because your generation destroyed their future plundering the country's natural resources while taking no responsibility for it.

I understand that the new generations know nothing of hardship, hunting and fishing for food or working on the farm for both sustinance and income. Good thing I didn't teach my kids to be lazy and stupid and become this vision you seem familiar with. Are you one of these lazy young people and see this personally?

The young know nothing of hardship, says the person who grew up with his own private estate on 100 acres. Just amazing.

And you keep talking about how easy it is for women. That is what the old generation left behind. Focusing on women, who do nothing but consume, while they produce nothing. They can't protect themselves. Then you sabotage the boys, who actually do the work to maintain the physical infrastructure, protect, and provide. It is so bad, that Tom Brady, Bill Gates, and Jeff Bezos can't keep a marriage, with this hyper-focus on women. What about the young men?

The oil count from the 1970s IS NOT the oil count of 2023.

Prove it.

Did a quick search on Gooble.
https://www.eia.gov/dnav/pet/hist/LeafH ... rfpus2&f=m
If you are telling me that magical increase in oil production in 2011 is normal extraction output, then I guess you'll believe anything that fits your narrative.

Can't be bothered to read the title of your own reference. Notice that "other liquids" part? I guess not. I asked you to prove it, not demonstrate that, as I said, you don't even know what oil is any more than the rest of the amateur hour. You should have googled better, better yet, on YOUR reference at the top, there is this thing. Called a link. It's called " crude oil production". Are you one of these young people that can't even figure out where the real oil information is when THE LINK IS ON YOUR OWN REFERENCE? No wonder you have a poor opinion of folks, your contemporaries perhaps?

You keep missing my point. You can't convince a man of the truth if his job depends on believing a lie.

I agree. I keep my gold because it isn't something you pass out and is mostly useless, and worthless paper is as worthless as what people give me for it. Cars, food, motorcycles, etc etc. Sounds like that paper sure ain't worthless!

So you keep things that are mostly useless? Okay.

Just because you can get something valuable for something worthless, does not make it valuable.

If the government said mud was valuable, and required it for the payment of taxes, it isn't valuable. The demand is entirely artificial and can disappear and never return. That happens regularly with dollars. $300 could get you an ounce of gold in 2000. And never will again. But, that ounce of gold got you 300 gallons of gasoline, in 2000. Guess how many gallons it gets you today? Over 500. I call that valuable.

Why do the rich get rid of dollars as fast as they can for valuable things? Because currency is basically worthless, government trash they FORCE on the people.

Since the 1980s, if you kept a 1980s dollar, it would be worth a fraction of what you could get then. If you kept that gold from the 1980s, you could still buy the same amount of stuff.

The market investments have grown more than the gold has appreciated. It is real versus nominal comparisons. Go look it up, and maybe you won't pretend you are talking to another noob.

And, if you look at gold from 2000, it has blown past "the markets" by a wide margin. In 2000, the NASDAQ hit 5000. The DOW hit 10,000. Gold was at $300. In 2023, as I type this, the DOW is at 33,500, the NASDAQ is at 12,100 and gold is at $2000.

Now, I'm no math whiz, but, in the 21st century, it looks like gold has blown past "the markets" you keep celebrating. It is impossible for "the markets" to outperform gold in the long run.

If you kept the dollars, the paper currency, you lost in every single case, BIG! With the gold, you can buy nearly the same stuff, you could in 1980, except for inflated home prices.

And if you put that dollar in the market, you'd have even more dollars and could buy even more stuff than the gold! Markets good! Gold less so. Plus I can convert market gains into worthless paper, and buy more stuff than if I liquidated the gold and got fewer worthless pieces of paper. Are you pretending to not understand this, or are you one of those young and uninformed folks watching TV all the time you appear to be so familiar with?

This is absolutely false for the 21st century. Plus, when you sell gold, there are no capital gains tax. There are no taxes at all because it is not currency. Gold is MONEY!

[theluckycountry]

So, anyone could have gotten on the same ride, if they could afford it? The young needed to already have disposable income, they could afford to lose.

Well of course they did, what, do you think they were simply given all those new iphones and smashed avocado breakfasts? I knew a snowflake millennial back in that decade, I talked to him about buying gold when it was only $au 700/oz. He wasn't interested, he was investing in CDO's and paying $2000 for seminars to learn how to get rich.

When the GFC blew all that crap up he took to online gambling, poker. He wasted money there for years and then about two years ago I saw him for the last time he'd taken a big stake in Dogecoin. No kidding, I looked him in the face and said "Well I guess that's the Top if your getting onboard" He didn't appreciate the comment but as it turns out, it was true! It was 70 cents a coin then and what, 7 cents today?

A fool and his money are soon parted and the young are generally fools, in every generation. We old GenX and Boomers owe the young nothing, they were just born at the wrong time in history and that's the truth.

9th May 2023:
Billionaire Warren Buffett froze the world with a gloomy prediction: The good times are over. https://www.worldtopinvestors.com/warre ... 20spending.

If you haven't paid off your home and have a good nest egg set aside then you are screwed to the wall now I believe. Thank God I was born in the 1960's

[ralfy]

Money is part of the credit market, and there's a reason why even gold and silver are valued in dollars.

You have it backwards... dollars are priced in gold.

Look at any chart on precious metals. They price currencies in terms of precious metals (money) by ounce, pound, or ton.

The dollar is imaginary and it's "price" has to be SET in terms of REAL value.

Dollars are as imaginary as bitcoin, because they are credit. They are not real.

Meanwhile, gold and silver have little value other than money.

I think Central Banks around the world know it has more than a "little" value.

Gold is priced in dollars. It's currently above $2,000 per ounce. That price goes up and down.

Dollars are priced in dollars.

Central banks don't use gold to make armor, ammo, or tools. It's put in vaults and they look at how pretty they look.

[noobtube]

So, anyone could have gotten on the same ride, if they could afford it? The young needed to already have disposable income, they could afford to lose.

Well of course they did, what, do you think they were simply given all those new iphones and smashed avocado breakfasts? I knew a snowflake millennial back in that decade, I talked to him about buying gold when it was only $au 700/oz. He wasn't interested, he was investing in CDO's and paying $2000 for seminars to learn how to get rich.

When the GFC blew all that crap up he took to online gambling, poker. He wasted money there for years and then about two years ago I saw him for the last time he'd taken a big stake in Dogecoin. No kidding, I looked him in the face and said "Well I guess that's the Top if your getting onboard" He didn't appreciate the comment but as it turns out, it was true! It was 70 cents a coin then and what, 7 cents today?

A fool and his money are soon parted and the young are generally fools, in every generation. We old GenX and Boomers owe the young nothing, they were just born at the wrong time in history and that's the truth.

9th May 2023:
Billionaire Warren Buffett froze the world with a gloomy prediction: The good times are over. https://www.worldtopinvestors.com/warre ... 20spending.

If you haven't paid off your home and have a good nest egg set aside then you are screwed to the wall now I believe. Thank God I was born in the 1960's

Youth is wasted on the young, sure. But, the old were no different when they were young. But, the young are the judges of the old. And, with the future of this economy, I fear their judgment.

Buffett's analysis looks sound. Just don't understand why he avoids money, and trusts currencies.

Money is part of the credit market, and there's a reason why even gold and silver are valued in dollars.

You have it backwards... dollars are priced in gold.

Look at any chart on precious metals. They price currencies in terms of precious metals (money) by ounce, pound, or ton.

The dollar is imaginary and it's "price" has to be SET in terms of REAL value.

Dollars are as imaginary as bitcoin, because they are credit. They are not real.

Gold is priced in dollars. It's currently above $2,000 per ounce. That price goes up and down.

Dollars are priced in dollars.

Central banks don't use gold to make armor, ammo, or tools. It's put in vaults and they look at how pretty they look.

Look at it this way. No matter what the currency is, gold is priced by the ounce... not by the currency.

You won't see a quote anywhere for what $1 or 1 pound or 1 yen or 1 ruble gets you in gold.

All quotes for gold are by the ounce and how many units of currency it takes to get that ounce.

The gold ounce is a unit of money.
The silver ounce is another unit of money.

All currencies attempt to FIX a claim of value in relation to that ounce of money.

The value of gold does not change. It is the worthless currency that keeps changing.

Gold is gold. But, who knows what a dollar is (or any other currency) from one minute to the next.

[AdamB]

Or gotten into the market in the early 1980's.

In other words, if you were old. That was 43 years ago! Whole generations have been born since then.

Indeed. I recommend education, experience, hard work, etc etc. Can turn even a hillbilly into more than just another hillbilly.

You had "nothing". But, then you say...

When I was young I shared a bedroom with my sister, in a house my grandfather built, on 100 acres of woodlands

Really? You were so-disadvantaged and poor with your 100 acres of land? I mean, do you realize how ridiculous that sounds (or looks)?

I didn't have 100 acres of land. Grandpap did. He bought it back when he married grandma. They bought it sometime after the Depression I believe. And sure I was poor, what do you think it means when you can't afford to buy store bought food, don't have running water in the winter, looked forward to church on Sundays because it was the only time you could get donuts (I loved those things) and drinks after the service. I trapped with a buddy, raccoon and fox, sold the pelts and bought ammo, ammo was reserved for whitetail primarily because you didn't want to waste a shot in small stuff like squirrels and rabbits.

And, you inherited a house... your family BUILT!

What are you blathering about? When Grandpap died Grandma put herself into a home, sold the house and 100 acres to the coal company to pay the home. They bulldozed the place and put in an air shaft for deep coal mines, they wanted the mineral rights, not the house.

You are making assumptions in regards to me just as silly as you did about what is, or is not, oil.

There are many youth, who did everything they were told, followed the rules, went to school, and couldn't go to college without a mountain of debt. There were no jobs to buy a motorcycle.

I borrowed to get to college, you don't think I could come up with the cash selling raccoon and fox pelts did you? And the job I got to buy the motorcycle was from work study, I also received grants and whatnot, being poor and all, and had a job working for the college, trash truck, stuff like that, resident assistant (which got me housing subsidies), and then began working the oilfields by my sophmore year.

You lived a privileged, insulated life.

Again, you are incorrect. I BUILT a privilege life. But I must admit, I am proud I didn't raise my kids in the dirt poor manner I was raised.

How much college debt did you have?

A decade worth of payments. I didn't hit it big, money wise, in the oil field until I began doing work drilling across North America for the majors.

How long did it take to buy that motorcycle?

10 minutes. Took it for a ride in the art bullding parking lot, handed over the cash, presto, I was a motorcyclist. Took a winter of savings to put together the cash. It was my first motorized transport.

How long before you got a career doing what you wanted to do? These are all privileges you enjoyed, and took for granted. You got something in your youth, that is rarely seen today.

I was working in the oil industry before I graduated college. Summers painting tank batteries, an intern at a consulting firm during the school year (on top of work study, cleaning toilets in the field house, sweeping floors, that sort of stuff), a couple years working upwards from the very bottom. Drilling was my big break. Took years to get there. I was like immigrant labor prior to that!

The young know nothing of hardship, says the person who grew up with his own private estate on 100 acres. Just amazing.

See above. You know nothing of being a hillbilly in Appalachia. A private estate....good one.

You keep missing my point. You can't convince a man of the truth if his job depends on believing a lie.

A) Missing your point when you didn't know what you were talking about isn't my problem, it's your ignorance. B) I am no longer in the oil field. I leveraged that experience into something more suiting my skill set.

So you keep things that are mostly useless? Okay.

Sometimes. My motorcycle fleet has been as high as 6 in the garage, it would be fair to note that at any point in time, 5 of them were always useless as I was the only license holder in the family until the kids grew up

Now, I'm no math whiz, but, in the 21st century, it looks like gold has blown past "the markets" you keep celebrating. It is impossible for "the markets" to outperform gold in the long run.

Math whiz? Not only don't you know what oil is, you reference things that aren't oil and pretend it is. And don't notice the link to the actual oil is ON YOUR REFERENCE. I've got worries about your READING ability.

And the markets outran my gold purchase because of WHEN I bought into gold, and the markets. That matters, and also doesn't require a math whiz to figure out. I didn't buy when gold collapsed in the mid-80's, but earlier when folks claimed the world was ending. One of those other times. Silly folk say similar things today. I recommend learning, education, and applying it so you don't stay like...you know...those people who don't even read their own references. Puts you right up there with Plant in the "how fast can I discredit myself" department.

[noobtube]

Or gotten into the market in the early 1980's.

In other words, if you were old. That was 43 years ago! Whole generations have been born since then.

Indeed. I recommend education, experience, hard work, etc etc. Can turn even a hillbilly into more than just another hillbilly.

So, which is it? Being born in the right place at the right time, or experience and hard work.

Can you make up your mind what you want to take credit for? Timing and circumstance means any fool could have done it. Experience and hard work means you get all the credit. But, if experience and hard work were so important, why doesn't that same effort and experience work anywhere else in the world, or today for that matter? Explain that.

The young know nothing of hardship, says the person who grew up with his own private estate on 100 acres. Just amazing.

See above. You know nothing of being a hillbilly in Appalachia. A private estate....good one.

And you know nothing of what it's like living in a world where the oil surplus has been used up, the institutions are failing, and resources are being stretched to the breaking point.
Yet, I suppose experience and hard work is supposed to make college more affordable, create good paying jobs, while lowering the cost of housing, health care, and fuel to the levels of the 1980s and 90s.

If only these "lazy" young people today just lived in the 1980s and 90s. Then, their hard work would pay off. I wonder, could it be they are "lazy" because those opportunities, from the 1980s and 90s, don't exist today. Could it be the old generation destroyed those chances? Maybe it was decades of selfishly stupid decisions like the War on Terror, the War on Drugs, the War on Crime, NAFTA, Globalization, car-centered everything, casinos, lottos, militarized police, and private prisons. Is that what hard-work and experience gets you... decades of unproductive, wasteful, idiotic outcomes?

All of that crap was created in the 1980s, 90s (and early 2000s) with the wealth of America, from all those hard-working, experienced types who thought the world owed them the good life and anyone who disagreed was a "lazy" communist, socialist, freedom-hating, hater of free markets.

Now we see the results of decades of that mentality. The youth have no future. And, they are getting angry.

You keep missing my point. You can't convince a man of the truth if his job depends on believing a lie.

A) Missing your point when you didn't know what you were talking about isn't my problem, it's your ignorance. B) I am no longer in the oil field. I leveraged that experience into something more suiting my skill set.

Now, I'm no math whiz, but, in the 21st century, it looks like gold has blown past "the markets" you keep celebrating. It is impossible for "the markets" to outperform gold in the long run.

Math whiz? Not only don't you know what oil is, you reference things that aren't oil and pretend it is. And don't notice the link to the actual oil is ON YOUR REFERENCE. I've got worries about your READING ability.

And the markets outran my gold purchase because of WHEN I bought into gold, and the markets. That matters, and also doesn't require a math whiz to figure out. I didn't buy when gold collapsed in the mid-80's, but earlier when folks claimed the world was ending. One of those other times. Silly folk say similar things today. I recommend learning, education, and applying it so you don't stay like...you know...those people who don't even read their own references. Puts you right up there with Plant in the "how fast can I discredit myself" department.

You are talking about my ability to read a chart when you can't read numbers.

You kept saying the markets outperformed gold and cherry-picked a fluke of history. That 20-year period between 1980-2000 was an aberration, due to a number of external factors. Gold price had been running strong from 1965-1980 and blew past "the markets." It was overpriced and that's when you bought it. From 1980-2000, "the markets" caught up to gold thanks to technology, new resource finds, and the collapse of competition from the Soviet Union. After 2000, gold blew past "the markets" again.

As with oil, when you see decades of declines, and magically in the election year of 2012, it magically starts rising, someone is playing with the numbers. The government just decided to change the definition of oil to suit their political agenda. So, the US claimed something that made absolutely no sense, given everything seen on the ground.

You want to believe those ridiculous "oil" numbers just like you want to believe in "the markets" despite all the evidence to the contrary.

The US is NOT energy independent. GOLD IS KING! Currency is nothing more than an illusion of wealth. "The markets" transfer wealth, they do not create it.

The old geezers are relics of a by-gone era that was an aberration of history. Things are returning back to the way they were for thousands of years. Either adapt, or get left behind. All this talk about hard work, experience is from a world that no longer exists and will never exist again.

The world doesn't need more Archie Bunkers.

[AdamB]

So, which is it? Being born in the right place at the right time, or experience and hard work.

Well, having been born in the wrong place, at the wrong time (single mother without a pot to piss in, she could have at least waited until she got her first job, right?), I'm going with having earned everything I've acheived because...you know...I did.

See above. You know nothing of being a hillbilly in Appalachia. A private estate....good one.

And you know nothing of what it's like living in a world where the oil surplus has been used up, the institutions are failing, and resources are being stretched to the breaking point.

Of course I do. That time, according to peak oilers and their ilk, began in 1970 when Earth Day declared that between pollution, population, and general Mathusian principles, that the Great Dieoff would happen by the end of the 1980's.

However did you survive that deprivation, to have lived to now to be whining about the same thing?

If only these "lazy" young people today just lived in the 1980s and 90s. Then, their hard work would pay off.

Maybe. There is hard work, and then there are people who confuse being a gadfly on the internet with it. I'm still trying to determine if you are one of those who feels sorry for themselves and is looking for someone else to blame it on, from the older folk crowd like me, or the younger group crowd. Would you care to venture a generation you were born into, that we might compare that with my old fart generation?

I wonder, could it be they are "lazy" because those opportunities, from the 1980s and 90s, don't exist today.

The US was suffering under staggering stagflation in the early 80's, far more opportunity exists today than my formative decades. I will assume you are of the younger crowd for not knowing this viscerally enough to have already experienced bad times, and grew up during or post the go-go 80's and everything that meant. Those of your type born into summer are expected to whine when winter shows up, if not cower in fear because you lack confidence in your ability to do something other than whine about your circumstances.

Now we see the results of decades of that mentality. The youth have no future. And, they are getting angry.

<yawn> Cry me a river, I was homeless my last semester in college, and living in storage unit. I wasn't angry. I was focused, and determined. Grow a pair already and stop acting like some spoiled "whaa why can't I have everything for free!!!"

You kept saying the markets outperformed gold and cherry-picked a fluke of history. That 20-year period between 1980-2000 was an aberration, due to a number of external factors.

Maybe it was. But those of us who invested in gold when the world was supposedly ending didn't know it in advance. And NOW you want to backtrack on your claim of all gold, all the time. No wonder you are so disappointed with your lot in life, why should YOU have to get where you want to be the hard way, why don't you parents just hand it to you on a silver platter....WHAAA FOR NOOBTUBE...SOMEONE FORGOT TO GIVE HIM HIS SILVER SPOON AT BIRTH.

You want to believe those ridiculous "oil" numbers just like you want to believe in "the markets" despite all the evidence to the contrary.

Of course I don't believe the ridiculous numbers YOU think are oil, I believe the ones that ARE oil that your lacking a silver spoon persona couldn't find with a keyboard, a flashlight, and them being a link right there on your own reference. Upon demonstrating such basic internet incompetence, might it be honest to say that your whining is due in part to you making these basic kinds of "can't think for yourself" boners in real life where it matters, and others have noticed?

The world doesn't need more Archie Bunkers.

Or children who wouldn't know what to do with an honest days work if you loaned them an illegal immigrant to do it for them.

[theluckycountry]

9th May 2023:
Billionaire Warren Buffett froze the world with a gloomy prediction: The good times are over.

Buffett's analysis looks sound. Just don't understand why he avoids money, and trusts currencies.

Who knows what is he is doing? Clearly now he's down on the banks and probably took short positions on them months ago. I recall after the GFC he bought a ton load of shares in the big banks, at special rates, with special options. All this was published "After" the fact and of course the herd, hearing what Buffett was up, to rushed in to join him. When did he sell those shares? That's the thing, he looks like a wizard because every time he buys something and promotes it everyone rushes in and the price goes up but you rarely hear accounts of him selling. He's a mouthpiece for the system.

He could privately hold billions in bullion, offshore, onshore, you just wouldn't know. When he cornered the silver market, so to speak, back in the 1990's by acquiring about 130 million ounces of silver via the birkshire hathaway octopus, the amount was so small compared to the companies other investments it was able to be hidden under miscellaneous. In other words it wasn't made public.

There is a food chain and those at the top get the information first and profit massively. Like how Nathan Rothschild made a Fortune speculating on shares and bonds after spreading misinformation about who won the battle of Waterloo. The whole paper finance structure is as corrupt as hell and always has been.
https://www.globalcapital.com/article/2 ... -a-killing