Home › Forums › Financial Markets/Economics › U.S. mint runs out of gold
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November 28, 2009 at 6:14 PM #487879November 28, 2009 at 8:19 PM #488377
CoronitaParticipant[quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.
November 28, 2009 at 8:19 PM #488609CoronitaParticipant[quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.
November 28, 2009 at 8:19 PM #487743CoronitaParticipant[quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.
November 28, 2009 at 8:19 PM #487909CoronitaParticipant[quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.
November 28, 2009 at 8:19 PM #488290CoronitaParticipant[quote=Arraya]China lies more about their stats then we do. The whole world is in a hand basket.[/quote]
It must be a pretty good lie, because apparently a good portion of the world is convinced.
What I want to know is when the poor people in China get totally pissed off about the huge gap in prosperity and another unrest happens.
November 28, 2009 at 11:26 PM #488654ucodegen
ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
November 28, 2009 at 11:26 PM #488423ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
November 28, 2009 at 11:26 PM #487954ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
November 28, 2009 at 11:26 PM #487788ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
November 28, 2009 at 11:26 PM #488335ParticipantThe demand for gold is insatiable:
Not running out of gold.. just the gold blanks that the coins are minted out of. Lets see:
Sell 1oz, 22carat gold coin for $1244. Cost of one ounce of 24carat gold metal is $1176 per troy ounce. Cost of gold in 22carat coin is $1176(22/24) = $1078. Result = net income of about $1244/$1078 – 1 = 0.1539 or 15% by just pressing into coin.
Platinum coins will be sold beginning next month, the mint said. None have been sold this year, the Web site shows.
I wonder what these will go for. Raw metal goes for $1436.50/oz, which is underpriced against gold when comparing to rarity (about 30 times more rare).
November 29, 2009 at 10:30 AM #488399partypup
ParticipantAdebisi, you’re wasting your time with this crowd. Let them cling to their flammable pieces of paper and take comfort that gold is going back to $500/oz.
The frog in the pot of slowly-boiling water won’t even attempt to jump out until it lacks the energy or strength to do so. But by then it will of course be too late. And so it goes for the vast majority of posters on this board. Attempts to enlighten and educate will only fall on deaf ears. I had once hoped that if enough Americans were armed with the truth then we would be able to resist the brutality that awaits us. But it looks as if the government plan to lull and soothe naive and compliant Americans into a false sense of security is actually working.
As one friend recently told me, anyone who hasn’t woken up by now will NOT wake up until the end game is here.
Sadly, poverty awaits most. They will literally be too poor to rebel.
November 29, 2009 at 10:30 AM #487853ParticipantAdebisi, you’re wasting your time with this crowd. Let them cling to their flammable pieces of paper and take comfort that gold is going back to $500/oz.
The frog in the pot of slowly-boiling water won’t even attempt to jump out until it lacks the energy or strength to do so. But by then it will of course be too late. And so it goes for the vast majority of posters on this board. Attempts to enlighten and educate will only fall on deaf ears. I had once hoped that if enough Americans were armed with the truth then we would be able to resist the brutality that awaits us. But it looks as if the government plan to lull and soothe naive and compliant Americans into a false sense of security is actually working.
As one friend recently told me, anyone who hasn’t woken up by now will NOT wake up until the end game is here.
Sadly, poverty awaits most. They will literally be too poor to rebel.
November 29, 2009 at 10:30 AM #488487ParticipantAdebisi, you’re wasting your time with this crowd. Let them cling to their flammable pieces of paper and take comfort that gold is going back to $500/oz.
The frog in the pot of slowly-boiling water won’t even attempt to jump out until it lacks the energy or strength to do so. But by then it will of course be too late. And so it goes for the vast majority of posters on this board. Attempts to enlighten and educate will only fall on deaf ears. I had once hoped that if enough Americans were armed with the truth then we would be able to resist the brutality that awaits us. But it looks as if the government plan to lull and soothe naive and compliant Americans into a false sense of security is actually working.
As one friend recently told me, anyone who hasn’t woken up by now will NOT wake up until the end game is here.
Sadly, poverty awaits most. They will literally be too poor to rebel.
November 29, 2009 at 10:30 AM #488719ParticipantAdebisi, you’re wasting your time with this crowd. Let them cling to their flammable pieces of paper and take comfort that gold is going back to $500/oz.
The frog in the pot of slowly-boiling water won’t even attempt to jump out until it lacks the energy or strength to do so. But by then it will of course be too late. And so it goes for the vast majority of posters on this board. Attempts to enlighten and educate will only fall on deaf ears. I had once hoped that if enough Americans were armed with the truth then we would be able to resist the brutality that awaits us. But it looks as if the government plan to lull and soothe naive and compliant Americans into a false sense of security is actually working.
As one friend recently told me, anyone who hasn’t woken up by now will NOT wake up until the end game is here.
Sadly, poverty awaits most. They will literally be too poor to rebel.
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