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partypup
Participant“China, gold, and the civilization shift”
Unless we are to believe that the central banks of developing countries are engaging in a speculative bubblefest, then the price of gold is still terribly undervalued from years of COMEX paper manipulation. Broke and unemployed Americans selling their trinkets at kiosks in malls and lemming investors clamoring to GLD is not what is sending gold to the moon. Central banks are madly fleeing from the dollar – this is the seismic action that is moving the gold market by leaps and bounds. Gold rises by $50 per week when massive quantities are bought by central banks – not by hedge funds and Joe Six Pack – and that’s precisely what has been happening.
The IMF just sold 10 TONS to Sri Lanka on Wednesday. India bought 200 tonnes in October, Mauritius bought 2 tons 2 weeks ago, and India is planning to buy the IMF’s remaining stock next month.
http://www.google.com/hostednews/afp/article/ALeqM5hezFRjxpXYJ9s6fa-qtO_F2jDCMg
This ain’t a bubble. You can expect the price of gold to return to $350/oz when the U.S. debt load falls under $1 trillion and the Fed raises interest rates to pre-2007 levels.
Good luck with that. And until then, as our currency flails in its death throes, you might as well accustom yourself to gold prices that will make your head spin.
“Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down.
…
Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months.Why should that stop when the AAA club of sovereign debtors is pushing towards the danger threshold of 100pc of GDP?
These new players account for almost all the accumulation of foreign currency reserves worldwide over the last five years, so what they do matters enormously.
After crunching the numbers, Mr Jen found that the share of gold in their reserves is just 2.2pc compared to 38pc for the Old World (perhaps we should just call them the deadbeats from now on). They would have to buy $115bn of gold at current prices to raise their bullion to just 5pc of total reserves, and $700bn to reach just half western levels.
The killer-term here is at current prices since any such move in the tiny global market for gold would send prices into the stratosphere.
Participant“China, gold, and the civilization shift”
Unless we are to believe that the central banks of developing countries are engaging in a speculative bubblefest, then the price of gold is still terribly undervalued from years of COMEX paper manipulation. Broke and unemployed Americans selling their trinkets at kiosks in malls and lemming investors clamoring to GLD is not what is sending gold to the moon. Central banks are madly fleeing from the dollar – this is the seismic action that is moving the gold market by leaps and bounds. Gold rises by $50 per week when massive quantities are bought by central banks – not by hedge funds and Joe Six Pack – and that’s precisely what has been happening.
The IMF just sold 10 TONS to Sri Lanka on Wednesday. India bought 200 tonnes in October, Mauritius bought 2 tons 2 weeks ago, and India is planning to buy the IMF’s remaining stock next month.
http://www.google.com/hostednews/afp/article/ALeqM5hezFRjxpXYJ9s6fa-qtO_F2jDCMg
This ain’t a bubble. You can expect the price of gold to return to $350/oz when the U.S. debt load falls under $1 trillion and the Fed raises interest rates to pre-2007 levels.
Good luck with that. And until then, as our currency flails in its death throes, you might as well accustom yourself to gold prices that will make your head spin.
“Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down.
…
Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months.Why should that stop when the AAA club of sovereign debtors is pushing towards the danger threshold of 100pc of GDP?
These new players account for almost all the accumulation of foreign currency reserves worldwide over the last five years, so what they do matters enormously.
After crunching the numbers, Mr Jen found that the share of gold in their reserves is just 2.2pc compared to 38pc for the Old World (perhaps we should just call them the deadbeats from now on). They would have to buy $115bn of gold at current prices to raise their bullion to just 5pc of total reserves, and $700bn to reach just half western levels.
The killer-term here is at current prices since any such move in the tiny global market for gold would send prices into the stratosphere.
Participant“China, gold, and the civilization shift”
Unless we are to believe that the central banks of developing countries are engaging in a speculative bubblefest, then the price of gold is still terribly undervalued from years of COMEX paper manipulation. Broke and unemployed Americans selling their trinkets at kiosks in malls and lemming investors clamoring to GLD is not what is sending gold to the moon. Central banks are madly fleeing from the dollar – this is the seismic action that is moving the gold market by leaps and bounds. Gold rises by $50 per week when massive quantities are bought by central banks – not by hedge funds and Joe Six Pack – and that’s precisely what has been happening.
The IMF just sold 10 TONS to Sri Lanka on Wednesday. India bought 200 tonnes in October, Mauritius bought 2 tons 2 weeks ago, and India is planning to buy the IMF’s remaining stock next month.
http://www.google.com/hostednews/afp/article/ALeqM5hezFRjxpXYJ9s6fa-qtO_F2jDCMg
This ain’t a bubble. You can expect the price of gold to return to $350/oz when the U.S. debt load falls under $1 trillion and the Fed raises interest rates to pre-2007 levels.
Good luck with that. And until then, as our currency flails in its death throes, you might as well accustom yourself to gold prices that will make your head spin.
“Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down.
…
Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months.Why should that stop when the AAA club of sovereign debtors is pushing towards the danger threshold of 100pc of GDP?
These new players account for almost all the accumulation of foreign currency reserves worldwide over the last five years, so what they do matters enormously.
After crunching the numbers, Mr Jen found that the share of gold in their reserves is just 2.2pc compared to 38pc for the Old World (perhaps we should just call them the deadbeats from now on). They would have to buy $115bn of gold at current prices to raise their bullion to just 5pc of total reserves, and $700bn to reach just half western levels.
The killer-term here is at current prices since any such move in the tiny global market for gold would send prices into the stratosphere.
Participant“China, gold, and the civilization shift”
Unless we are to believe that the central banks of developing countries are engaging in a speculative bubblefest, then the price of gold is still terribly undervalued from years of COMEX paper manipulation. Broke and unemployed Americans selling their trinkets at kiosks in malls and lemming investors clamoring to GLD is not what is sending gold to the moon. Central banks are madly fleeing from the dollar – this is the seismic action that is moving the gold market by leaps and bounds. Gold rises by $50 per week when massive quantities are bought by central banks – not by hedge funds and Joe Six Pack – and that’s precisely what has been happening.
The IMF just sold 10 TONS to Sri Lanka on Wednesday. India bought 200 tonnes in October, Mauritius bought 2 tons 2 weeks ago, and India is planning to buy the IMF’s remaining stock next month.
http://www.google.com/hostednews/afp/article/ALeqM5hezFRjxpXYJ9s6fa-qtO_F2jDCMg
This ain’t a bubble. You can expect the price of gold to return to $350/oz when the U.S. debt load falls under $1 trillion and the Fed raises interest rates to pre-2007 levels.
Good luck with that. And until then, as our currency flails in its death throes, you might as well accustom yourself to gold prices that will make your head spin.
“Stephen Jen from the hedge fund Blue Gold Capital has a warning for those who think that gold has risen far too high, is necessarily in a speculative bubble, and must soon come clattering back down.
…
Mr Jen is an expert on sovereign wealth funds from his days at Morgan Stanley. The gold story — essentially — is that the rising economic powers of Asia, the Middle East, and the commodity bloc are rejecting Western fiat currencies. China, India, and Russia have all been buying gold on a large scale over recent months.Why should that stop when the AAA club of sovereign debtors is pushing towards the danger threshold of 100pc of GDP?
These new players account for almost all the accumulation of foreign currency reserves worldwide over the last five years, so what they do matters enormously.
After crunching the numbers, Mr Jen found that the share of gold in their reserves is just 2.2pc compared to 38pc for the Old World (perhaps we should just call them the deadbeats from now on). They would have to buy $115bn of gold at current prices to raise their bullion to just 5pc of total reserves, and $700bn to reach just half western levels.
The killer-term here is at current prices since any such move in the tiny global market for gold would send prices into the stratosphere.
ParticipantHey Scaredy, how’s that gold investment working out for ya? Thinking of selling anytime soon? 😉
Gold is going to $2,500. After that, to the moon.
The dollar death is upon us.
My modest gold and silver investments have been netting $5-7K each day for the past 2 weeks. The paradigm has changed forever, boys and girls.
ParticipantHey Scaredy, how’s that gold investment working out for ya? Thinking of selling anytime soon? 😉
Gold is going to $2,500. After that, to the moon.
The dollar death is upon us.
My modest gold and silver investments have been netting $5-7K each day for the past 2 weeks. The paradigm has changed forever, boys and girls.
ParticipantHey Scaredy, how’s that gold investment working out for ya? Thinking of selling anytime soon? 😉
Gold is going to $2,500. After that, to the moon.
The dollar death is upon us.
My modest gold and silver investments have been netting $5-7K each day for the past 2 weeks. The paradigm has changed forever, boys and girls.
ParticipantHey Scaredy, how’s that gold investment working out for ya? Thinking of selling anytime soon? 😉
Gold is going to $2,500. After that, to the moon.
The dollar death is upon us.
My modest gold and silver investments have been netting $5-7K each day for the past 2 weeks. The paradigm has changed forever, boys and girls.
ParticipantHey Scaredy, how’s that gold investment working out for ya? Thinking of selling anytime soon? 😉
Gold is going to $2,500. After that, to the moon.
The dollar death is upon us.
My modest gold and silver investments have been netting $5-7K each day for the past 2 weeks. The paradigm has changed forever, boys and girls.
Participant[quote=ucodegen]
When you can’t unload a Canadian Maple Leaf for $50 – or even give it away – because the sheep are too gun shy and addicted to paper, then I think it’s safe to say that gold has a LOOOOONG way to run.
NOTE: I think the real thing is that people are brain dead is the real reason. Quotable from the video… “I don’t even have $5 on me..”.
The other problem is being to ID if it is a real coin or not.. I wonder how many people have actually seen a Maple Leaf gold coin and know what its purity is.
[/quote]You’ve made some good points, Ucodegen, especially about the issue of authenticity (which I raised myself in the post). However, if someone is filming you on camera and is making a pitch, chances are it isn’t a scam but rather an experiment.
Look, I’m sure Dice knew that no one would actually hand over $50 without verfiying the content of the coin. But I don’t think that was the point of the video. What I found humorous (as did Dice) was people’s reactions. And you’re right, most people have never even seen a real gold coin, so they would have no way of determining whether he was offering something real or something fake. And I think that was the point he was trying to make: we are so removed from *real* money – having only seen paper all of our lives – that we wouldn’t recognize it if it were staring us in the face. He just chose a humorous method to make his point. If I were one of the targets I would have asked to see the coin and said, “Sounds like a good deal. Walk with me to a coin shop and let’s check it out?” But these people – a good number of whom were probably unemployed or underemployed with plenty time on their hands as they strolled the beach – didn’t even want to be bothered because they can’t even relate to real money anymore. Now, if Dice had offered them a bootleg copy of “This is it” or “Paranormal Activity”, I’m sure he would have gotten much more interest!
Participant[quote=ucodegen]
When you can’t unload a Canadian Maple Leaf for $50 – or even give it away – because the sheep are too gun shy and addicted to paper, then I think it’s safe to say that gold has a LOOOOONG way to run.
NOTE: I think the real thing is that people are brain dead is the real reason. Quotable from the video… “I don’t even have $5 on me..”.
The other problem is being to ID if it is a real coin or not.. I wonder how many people have actually seen a Maple Leaf gold coin and know what its purity is.
[/quote]You’ve made some good points, Ucodegen, especially about the issue of authenticity (which I raised myself in the post). However, if someone is filming you on camera and is making a pitch, chances are it isn’t a scam but rather an experiment.
Look, I’m sure Dice knew that no one would actually hand over $50 without verfiying the content of the coin. But I don’t think that was the point of the video. What I found humorous (as did Dice) was people’s reactions. And you’re right, most people have never even seen a real gold coin, so they would have no way of determining whether he was offering something real or something fake. And I think that was the point he was trying to make: we are so removed from *real* money – having only seen paper all of our lives – that we wouldn’t recognize it if it were staring us in the face. He just chose a humorous method to make his point. If I were one of the targets I would have asked to see the coin and said, “Sounds like a good deal. Walk with me to a coin shop and let’s check it out?” But these people – a good number of whom were probably unemployed or underemployed with plenty time on their hands as they strolled the beach – didn’t even want to be bothered because they can’t even relate to real money anymore. Now, if Dice had offered them a bootleg copy of “This is it” or “Paranormal Activity”, I’m sure he would have gotten much more interest!
Participant[quote=ucodegen]
When you can’t unload a Canadian Maple Leaf for $50 – or even give it away – because the sheep are too gun shy and addicted to paper, then I think it’s safe to say that gold has a LOOOOONG way to run.
NOTE: I think the real thing is that people are brain dead is the real reason. Quotable from the video… “I don’t even have $5 on me..”.
The other problem is being to ID if it is a real coin or not.. I wonder how many people have actually seen a Maple Leaf gold coin and know what its purity is.
[/quote]You’ve made some good points, Ucodegen, especially about the issue of authenticity (which I raised myself in the post). However, if someone is filming you on camera and is making a pitch, chances are it isn’t a scam but rather an experiment.
Look, I’m sure Dice knew that no one would actually hand over $50 without verfiying the content of the coin. But I don’t think that was the point of the video. What I found humorous (as did Dice) was people’s reactions. And you’re right, most people have never even seen a real gold coin, so they would have no way of determining whether he was offering something real or something fake. And I think that was the point he was trying to make: we are so removed from *real* money – having only seen paper all of our lives – that we wouldn’t recognize it if it were staring us in the face. He just chose a humorous method to make his point. If I were one of the targets I would have asked to see the coin and said, “Sounds like a good deal. Walk with me to a coin shop and let’s check it out?” But these people – a good number of whom were probably unemployed or underemployed with plenty time on their hands as they strolled the beach – didn’t even want to be bothered because they can’t even relate to real money anymore. Now, if Dice had offered them a bootleg copy of “This is it” or “Paranormal Activity”, I’m sure he would have gotten much more interest!
Participant[quote=ucodegen]
When you can’t unload a Canadian Maple Leaf for $50 – or even give it away – because the sheep are too gun shy and addicted to paper, then I think it’s safe to say that gold has a LOOOOONG way to run.
NOTE: I think the real thing is that people are brain dead is the real reason. Quotable from the video… “I don’t even have $5 on me..”.
The other problem is being to ID if it is a real coin or not.. I wonder how many people have actually seen a Maple Leaf gold coin and know what its purity is.
[/quote]You’ve made some good points, Ucodegen, especially about the issue of authenticity (which I raised myself in the post). However, if someone is filming you on camera and is making a pitch, chances are it isn’t a scam but rather an experiment.
Look, I’m sure Dice knew that no one would actually hand over $50 without verfiying the content of the coin. But I don’t think that was the point of the video. What I found humorous (as did Dice) was people’s reactions. And you’re right, most people have never even seen a real gold coin, so they would have no way of determining whether he was offering something real or something fake. And I think that was the point he was trying to make: we are so removed from *real* money – having only seen paper all of our lives – that we wouldn’t recognize it if it were staring us in the face. He just chose a humorous method to make his point. If I were one of the targets I would have asked to see the coin and said, “Sounds like a good deal. Walk with me to a coin shop and let’s check it out?” But these people – a good number of whom were probably unemployed or underemployed with plenty time on their hands as they strolled the beach – didn’t even want to be bothered because they can’t even relate to real money anymore. Now, if Dice had offered them a bootleg copy of “This is it” or “Paranormal Activity”, I’m sure he would have gotten much more interest!
Participant[quote=ucodegen]
When you can’t unload a Canadian Maple Leaf for $50 – or even give it away – because the sheep are too gun shy and addicted to paper, then I think it’s safe to say that gold has a LOOOOONG way to run.
NOTE: I think the real thing is that people are brain dead is the real reason. Quotable from the video… “I don’t even have $5 on me..”.
The other problem is being to ID if it is a real coin or not.. I wonder how many people have actually seen a Maple Leaf gold coin and know what its purity is.
[/quote]You’ve made some good points, Ucodegen, especially about the issue of authenticity (which I raised myself in the post). However, if someone is filming you on camera and is making a pitch, chances are it isn’t a scam but rather an experiment.
Look, I’m sure Dice knew that no one would actually hand over $50 without verfiying the content of the coin. But I don’t think that was the point of the video. What I found humorous (as did Dice) was people’s reactions. And you’re right, most people have never even seen a real gold coin, so they would have no way of determining whether he was offering something real or something fake. And I think that was the point he was trying to make: we are so removed from *real* money – having only seen paper all of our lives – that we wouldn’t recognize it if it were staring us in the face. He just chose a humorous method to make his point. If I were one of the targets I would have asked to see the coin and said, “Sounds like a good deal. Walk with me to a coin shop and let’s check it out?” But these people – a good number of whom were probably unemployed or underemployed with plenty time on their hands as they strolled the beach – didn’t even want to be bothered because they can’t even relate to real money anymore. Now, if Dice had offered them a bootleg copy of “This is it” or “Paranormal Activity”, I’m sure he would have gotten much more interest!
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