Gold. GOLD!!!!! Gooooollllllllllddddddd!!!!!!!!

[Balzac89]

Investors should be nervous when the stock market is high. If I had money in the market, I would probably liquidate and go short without some convincing evidence of serious economic recovery. Who knows whether that would be wise or not...

All the indicators of the market say over bought. When the Feds stop buying bonds back and increase the interest rates, Stocks will begin to sell off.

Before the end of the year I bet

 

[Balzac89]

http://qz.com/83396/1-billion-of-gold-has-been-shipped-from-new-york-to-south-africa-this-year/

Almost a billion dollars worth of Gold has left the U.S. just through the JFK airport so far this year. The destination South Africa. Speculation that African mines are not meeting mining demand for the Gold Krugerrand coin.

The graph shows the huge trade deficit created by this gold.

 

[Balzac89]

The West trades it gold for paper, gold get shipped to Africa and refined and than dispersed around the world. Talk about redistributing wealth.

 

[Red1966]

All the indicators of the market say over bought. When the Feds stop buying bonds back and increase the interest rates, Stocks will begin to sell off.

Before the end of the year I bet

You should get fair warning, they say they'll keep buying bonds until unemploytment drops below 7%

 

[Balzac89]

You should get fair warning, they say they'll keep buying bonds until unemploytment drops below 7%

so forever?

 

[tokeprep]

http://qz.com/83396/1-billion-of-gold-has-been-shipped-from-new-york-to-south-africa-this-year/

Almost a billion dollars worth of Gold has left the U.S. just through the JFK airport so far this year. The destination South Africa. Speculation that African mines are not meeting mining demand for the Gold Krugerrand coin.

The graph shows the huge trade deficit created by this gold.

Whoever sold that gold a couple months ago got more money for it than they'd get now.

Of course, I don't think this means anything at all. The article you linked to speculates that this gold was purchased because of productions slowdowns caused by the strikes and violence in South Africa's domestic mining industry. And all the gold they're importing--doesn't that just get resold for the same paper currency?

 

[Red1966]

so forever?

Possibly. remember, all "economic theory" is just that, theory. If economists actually knew what they were doing, would nearly the whole world be in a slump?

 

[Balzac89]

Whoever sold that gold a couple months ago got more money for it than they'd get now.

Of course, I don't think this means anything at all. The article you linked to speculates that this gold was purchased because of productions slowdowns caused by the strikes and violence in South Africa's domestic mining industry. And all the gold they're importing--doesn't that just get resold for the same paper currency?

the post was more about the redistribution of the Gold. The West is selling Gold and the East is buying it. Movement of wealth from West to East. When the Gold is gone what do we have? worthless paper

 

[tokeprep]

the post was more about the redistribution of the Gold. The West is selling Gold and the East is buying it. Movement of wealth from West to East. When the Gold is gone what do we have? worthless paper

See, I think it goes the other way around. We have this brilliant scam to unload some worthless metal on the hundreds of millions of newly well-to-do who can afford to pay ridiculous cash prices for it. Take the money, invest it in real assets, and laugh as they stare at their little bars.

When the gold is gone, we'll have everything we have right now. That paper isn't worthless--it represents the collective value of hundreds of millions of people interacting in the economy. That labor, production, and other effort is and creates value: the food I eat, the house I live in, the energy I'm using to keep the lights on, and everything else. Where is gold in the picture, and where should it be? It has absolutely no relation to economic value.

This is what the world came to realize when the industrialized countries dropped the gold standard and unrelentingly embraced fiat currency. The world didn't collapse--and it won't collapse--because gold didn't need to be the basis of anything.

 

[Balzac89]

See, I think it goes the other way around. We have this brilliant scam to unload some worthless metal on the hundreds of millions of newly well-to-do who can afford to pay ridiculous cash prices for it. Take the money, invest it in real assets, and laugh as they stare at their little bars.

When the gold is gone, we'll have everything we have right now. That paper isn't worthless--it represents the collective value of hundreds of millions of people interacting in the economy. That labor, production, and other effort is and creates value: the food I eat, the house I live in, the energy I'm using to keep the lights on, and everything else. Where is gold in the picture, and where should it be? It has absolutely no relation to economic value.

This is what the world came to realize when the industrialized countries dropped the gold standard and unrelentingly embraced fiat currency. The world didn't collapse--and it won't collapse--because gold didn't need to be the basis of anything.

The rate at which the paper has devalued doesn't bother you? In less than a century the Federal Reserve note has lost over 90 percent of its value. How much value has Gold lost in the last 100 years?

 

[Balzac89]

What will the dollar be worth in another century?

 

[ChesusRice]

What will the dollar be worth in another century?

A dollar'....

 

[Balzac89]

A dollar'....

I'll be more specific what will the purchasing power of the dollar be

 

[Balzac89]

damn anyone else look up the spot price today. Here comes the slide

 

[ChesusRice]

I'll be more specific what will the purchasing power of the dollar be

Whatever a dollar is worth in a 100 years

 

[Balzac89]

Whatever a dollar is worth in a 100 years

jack shit is the answer

 

[ChesusRice]

jack shit is the answer

So what was it worth a 100 years ago and what where the wages paid to the average worker?

 

[Harrekin]

So what was it worth a 100 years ago and what where the wages paid to the average worker?

I bought some junk silver coins cheap on EBay, they were early 20th century 6p coins, they were obviously at the time worth 6p, they're worth approx 70p each because they're 50% silver.

You wanted a real example, there it is.

 

[ChesusRice]

I bought some junk silver coins cheap on EBay, they were early 20th century 6p coins, they were obviously at the time worth 6p, they're worth approx 70p each because they're 50% silver.

You wanted a real example, there it is.

My dad bought a dresser at an auction for 30 bucks that cost 15 bucks back in 1910

Sold it for over a thousand. Wanted a real example
There it is

 

[Harrekin]

My dad bought a dresser at an auction for 30 bucks that cost 15 bucks back in 1910

Sold it for over a thousand. Wanted a real example
There it is

Sorry, is this thread about antique furniture? Or is it about PM's?

Antiques have a ridiculous price for some illogical reason, it's like comparing your "wife" and western women, it's not the same thing.