$400 gold?

Login or register to post comments Last Post 9065 reads   30 posts
Viewing 10 posts - 21 through 30 (of 30 total)
  • Thu, May 21, 2009 - 07:43pm

    #21
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

notdoq said –  (Post #11)

A further meme. The Fed is a private organisation which is backed by private financiers who achieved the amazing coup in 1913 of printing the nation’s money, and charging us interest on something of no intrinsic value. That’s a smart trick. The Fed now has the Treasury (ie you and me) in hock to the tune of extra trillions due to bail outs. We will pay taxes for ever to try and repay and it will never end. The population is unwittingly indentured to a private bank that has no real money – just the right to tax us. Over the years the dynasties behind the Fed  have earnt trillions. Faceless families who make Buffet look poor. This crisis was predictable. Therefore at some level it was avoidable and therefore it is intentional. Smart people like that don’t lose the plot. They don’t sit on a a tree branch whilst sawing it off. If the dollar becomes worthless and a new world order and currency results, don’t think that the trillions creamed off the top by the Fed since 1913 is sat in dollar bills or other notes. It will be in tangible finite assets and form the basis of what is to come. To quote from the original 1969 "Italian Job" film (the one without Mark Wahlberg…)  when Turin is brought to gridlock by the bullion thieves the Turin police chief observes "they created this traffic jam and they must have planned a way out of it." Think like the faceless families who own the Fed, and carve your own little life raft against the deluge that awaits.

This is great stuff, thanks (H/T cat233).  The amazing thing is that they have been able to loot the people for almost 100 years now and few seem to notice.  If the scheme were very complicated, this would almost be understandable, but the scam is obvious.  They create money (at no cost to them) and we supply the collateral.  Then when we need money, we borrow it from them.  We are accumulating an unsustainable debt ($11.5-$14 trillion) and are struggling to pay the interest while never paying down the principal.  At the same time, we have the power to directly issue our money, totally free from debt.

I agree with your comment – "the amazing coup in 1913."  That’s exactly what happened

.   The question people should be asking is why have we been subjected to this illegal scheme for so long?

Larry

  • Sat, May 23, 2009 - 11:41am

    #22
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

[quote=ltlredwagon]

I am familiar with all the reasons why there will be $2,000 – $3,000+ gold in the future.  Makes sense to me.  I’m on the gold/silver bandwagon, but I must say I always get a little worried when EVERYONE seems to be on the bandwagon and this is NOT an area in which I am an expert, even though I made what I think is a well-reasoned decision based on the data I have. 

Are there any respected persons on the other side?   Anyone saying, "You guys are all just freakin’ out – most likely this and this and this will happen and gold will drop back down to the $300-400 range."    Is there any valid point of view which sees gold never reaching the spectacular highs all are expecting, but just settling down and/or drifting back?  Has anyone reasoned out a set of circumstances or series of events which would significantly stabilize/lower gold prices, or precipitate a collapse? I know that one of the best things about this forum is that it accomodates a wide variety of viewpoints:  who is the best spokesperson for the "other side"?    

[/quote]

I have expressed a point of view for lower gold in a few years in this thread: https://www.peakprosperity.com/comment/36542#comment-36542

  • Sat, Feb 20, 2010 - 04:56am

    #23
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

There’s has not been a post here in a while, but gold has certainly moved up from the $900 to $1000 range in 2009 and seems to be settling into a $1000 to $1200 range.  That’s a pretty big increase in just a year.

The pressures to sell off gold seem to be very weak right now as the Chinese and Indian governments and middle classes add new global citizens to the gold demand pool.

It’s hard for me to believe that gold will move back down to the $900 to $1000 range any time soon.

  • Sat, Feb 20, 2010 - 02:05pm

    #24
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

[quote=ltlredwagon]

I am familiar with all the reasons why there will be $2,000 – $3,000+ gold in the future.  Makes sense to me.  I’m on the gold/silver bandwagon, but I must say I always get a little worried when EVERYONE seems to be on the bandwagon and this is NOT an area in which I am an expert, even though I made what I think is a well-reasoned decision based on the data I have. 

Are there any respected persons on the other side?   Anyone saying, “You guys are all just freakin’ out – most likely this and this and this will happen and gold will drop back down to the $300-400 range.”    Is there any valid point of view which sees gold never reaching the spectacular highs all are expecting, but just settling down and/or drifting back?  Has anyone reasoned out a set of circumstances or series of events which would significantly stabilize/lower gold prices, or precipitate a collapse? I know that one of the best things about this forum is that it accomodates a wide variety of viewpoints:  who is the best spokesperson for the “other side”?    

[/quote]Very good post. Forgive me for being in a rush this morning and not having the time to read any posts but this one before responding. Something I do but once a year.

One of my guiding principles is: Diversification is for people who don’t know.

So do I worry about this. H*ll yes. And I get queezy when Soros makes a Greenspan statement (something that can be taken 9 ways to Sunday) about gold being in a bubble. When I found out the SOB doubled his holdings I felt a lot better.

Anything can happen.

Anything.

But my view of it is this thing is a 747 in a flat spin and the morons in the cockpit think they can recover by doing maneuvers that will exacerbate it.

Can gold go down? Yeah.

How much? Well just forget about the debt for a second. All the debt in the world can be leveraged as long as it can be serviced.

Right now the debt is NOT serviceable. They counterfeit the difference. Quantitative Easing. Sounds so freaking smart and so legal. BS.

Can they service these insane differences (and trust me if you add in the government sponsored (GSE)  debt the deficit is about 3.5 trillion worse than advertised) between what is taken in and what goes out without QE? Yes, they can service the deficit without QE.

How? Steal 2-7 trillion (depending on what they go after and whose estimates you listen to) of 401K’s and IRA’s, stuff them in a program called SSII shafting the average Joe and Jane and letting the next crook who takes office 20 years from now worry how they are going to pay yet another looted fund.

Argentina did it.

That will give them enough buyers to heavy hand the bond market and the dollar.

For a little while.

Would it fix anything? NO.

Look, I’m blessed being on an incredible email chain. I look forward to my email each and everyday because of it. Most of it is about resources and the environment. When economic articles land in my inbox I pay particular attention to them. The one I got originated from a guy whose Mom went to president’s birthday parties (the guy is a CEO of someplace big.) It went to another billionaire and then to poor little me. I submitted it to the DD last night. It said it all. “Basically, it is over.” Written by Munger. The email referred to Munger by first name. Think these 2 know Munger? 

It is over. We are broke. It can only be fixed after it craters. How long they can hold it off by stealing more money from us? Who the h*ll knows – or cares. Gold is my parachute.

Would I sell my gold? NO.

If it went to 200? NO.

And oh, by the way: NOT everyone is on board. I think it was Jeff Nealson or Jim Sinclair who did a piece on how much gold there is and how many people own it. The described it as a cubed tennis court’s worth above ground. Gold is barbaric relic – and it is STILL here. Fiat currencies (3800 of them) have all come and gone.

That is little old me’s take on it.

 

  • Sat, Feb 20, 2010 - 02:14pm

    #25
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

“These automatically updated charts, offered in conjunction with the St. Louis Federal Reserve Bank, perform a twofold function for gold owners. First, they provide an opportunity to regularly monitor important statistical developments in real-time at a single, convenient link. Second, chosen from an immense supply of economic data, they isolate areas of particular interest to the gold owner, i.e. the national debt, money supply, inflation and unemployment numbers, securities held outright by the Federal Reserve, foreign-held debt, adjusted monetary base, etc. We hope you will visit frequently for updates. From time to time, we will add our comments. If you have an interest in this page, please do not forget to bookmark.”

http://www.usagold.com/reference/monetary_data.html

  • Sat, Feb 20, 2010 - 03:58pm

    #26
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

The one I got originated from a guy whose Mom went to president’s birthday parties (the guy is a CEO of someplace big.) It went to another billionaire and then to poor little me. I submitted it to the DD last night. It said it all. “Basically, it is over.” Written by Munger.

Davos

Where is this article? I can’t find it

  • Sat, Feb 20, 2010 - 04:17pm

    #27
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

Here you go, JO

http://www.slate.com/id/2245328/pagenum/all/

  • Sun, May 09, 2010 - 07:28am

    #28
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

Tip for the day.  Buy physical gold from a reliable source, in person, and in cash, so there is no record of the transaction and keep it somewhere safe.

Don’t worry about what the price of gold does.  Give your gold to your children before you die.  They will need it to help survive in the mess we are creating far more than we need it now.

  • Mon, May 10, 2010 - 01:45pm

    #29
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

Red pill….we are off to coin shop today. 

And my children’s future is what is foremost on my mind.

Who the flip cares about the Supreme Court nominee? I feel like I’m playing a part in a suspense movie today starring evil Monarchy and idiot Peasants.  I’m not sure what part I’m playing yet….I don’t know my lines other than “I’m buying gold.”

  • Mon, May 10, 2010 - 01:47pm

    #30
    Peak Prosperity Admin

    Peak Prosperity Admin

    Status Bronze Member (Offline)

    Joined: Oct 31 2017

    Posts: 1583

    count placeholder0

    Re: $400 gold?

“Anyway, no drug, not even alcohol, causes the fundamental ills of society. If we’re looking for the source of our troubles, we shouldn’t test people for drugs, we should test them for stupidity, ignorance, greed and love of power.
” ~ P. J. O’Rourke

Viewing 10 posts - 21 through 30 (of 30 total)

Login or Register to post comments