Stacy Summary: I guess it’s another one of those mornings.
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ref. max keiser & Get 6 mo’s free storage
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Rick Ackerman-
- King World News
- Mish
- Karl Denninger – Market Ticker
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- Michael Hudson
- ZeroHedge
- The Big Picture
crash banksters – Buy Silver & gold
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Most recent: 
Still belive its a 6000 year old SCAM
I just bought one of the new 2009 Buffalo Proofs. Very pretty.
Maybe it is sugar coated American grey propaganda, maybe the person is right on the nose –
http://www.youtube.com/watch?v=I9q1oeMcoL0
implies that there might be large scale liquidations in the US middle class due to the dollar collapse and the debt crisis.
As I come from a broadcasting background
http://www.youtube.com/watch?v=-eBk7vwivvQ
it is not so easy for me to see if this American set of mini-docs or infomericals has geopolitical validity.
Opinions anyone?
gold has actually crossed $1110 line today – and then dipped back to $1107 (now $1108)
@Richard@lattitude30N – Yes, I’ve heard similar stories with my own friends and family
If anyone’s interesting in the End the Fed movement, it became obvious to me that the movement works in the interests of those who wish to maintain control of international monetary exchange through preexisting corrupt channels by delivering the power to coin to the US Treasury (a defunct agency working as proxy agent for the IMF):
http://www.monetary.org/amacolorpamphlet.pdf (from the Ellen Brown thread)
If we do not try the criminals; if we deign more control to the IMF/BIS conglomerate operating in suprasovereign fashion now; if we follow the precepts of the above link–then we deserve the Hell on Earth which we will receive. There is no hope of equity in a system of tyrannical control of nation-states by a criminal cabal.
@Sherbert: Just back from NYC and a visit with my younger brothers….who own a $6 million gross annual janitorial supply business….they have been living beyond their means for some time and as business contracts they have an accounts receivable aspect of their wholesale business model that is growing by leaps and bounds…an off the cuff discussion he admitted to $1 million in accounts receivable ( in 1985 this amount was $450,000.00 in a much smaller company; added to this is the salaries and overhead for keeping the doors open ) the ration approached 30-35%…so as a good brother I mentioned that if that ratio crosses a specific yet unknown threshold he was out of business and would do better to lock the doors….So I mention this as I find this the big squeeze not mentioned in mainstream business..that common average mom and pop businesses are as much underwater as the TBTF banks…as a side note my father had a revolving bank loan to meet quarterly taxes and other expenses and this reserve aspect is no longer available…The decision to fortify only the TBTF banks/and businesses is a bandaide on a shark wound….The devastation is still in the simmering stages…more 30′s style backlash is in the future….remember the goons who attacked the workers and let us not forget McArthur and Patton attacking the Vets seeking their pensions….in the Gen Smedley Butler era…where oh where is our Smedley Butler???????????????
People rather die with a sense of comfort than survive by adapting to circumstances..
@MotherEarth:
How will one exchange gold for value-based units of credit in the new exchange being monkeyied by the IMF sdr/manipulations International Clearing Union G20/EU monolith new world order?
I think gold will reach $2,000 US Dollars an ounce by 2012. However I believe it could fall to $800 first. The central banks will move heaven and earth to hold down the price, in the end the supply will be so thin that the price will have to explode. Then add in the weakness of Dollar and Sterling and Gold has a good future.
@Kim … at our local bank – no problem !
( in Germany )
Maybe as an experiment, some shall aqcuire some gold bullion and see if they can sell it at least for the same price they paid for….
@Kim, “Who will you sell your gold to?”
Good question. The street value of an ounce of gold is less than a cup of coffee (to be fair, this is Canadian gold so it’s not worth as much as US gold):
http://economycollapse.blogspot.com/2009/11/mark-dice-tries-to-sell-ounce-of-gold.html
I’ve got sympathy for the guy who wouldn’t buy it on the grounds that he “didn’t need it”. He’s probably living his life well, but in this game innocence will not bring salvation.
“…recent upticks in Gold price…”
sorry, wrong. It is a statement devoid of any meaning. If anything it should read: “…recent loss of the theoretical value of the fiat currency Dollar (or Euro or Swiss Francs etc.) expressed in ounces of Gold…” or similar.
It would only be one of those mornings if this were true :
Gold at :
4096 EUR
4096 USD
4096 NZD
The recent upticks in Gold price are not even statistically significant in my book.
link to the term sheet doesn t work – here I ll try again
http://www.swissfunddata.ch/fbcdoc/odm-1951-en.pdf
What is Gold and why own it?
“…Gold has legitimacy as a currency not least because it has been a store of value for thousands of years, but also because it is the ultimate means of exchange. Alan Greenspan has himself admitted that in extremis, people may shun fiat currency but they will always take gold. The value of gold expressed in fiat currencies will fluctuate. Personally, I’m with Shayne McGuire of the Teacher Retirement System of Texas who recently commented, “I don’t think the question really is what is gold worth but what are currencies not worth”. We are starting to see the answer to that question, and everybody should care. I’m not trying to sell anything, merely to defend gold from those who put undue faith in politicians… (excerpt Nov 7 SeekingAlpha Tim Price)
“…Gold has the voluntary recognition and consensus of trust of the people – all over the world.
Depending war and peace, bad or good economic times, the perception of us humans about the State of our Planet, other stores of wealth and means of barter and trading might take leadership over gold, hence the “value” can gyrate substantially, but it certainly warrants to take history into account and diversify ones portfolio accordingly….”
Ownership of Gold – what kind, where to store, whom to sell it to:
…Along what is said above, to my knowledge, the Zurich Cantonal Bank Gold ETF is one of the very few funds where one has access to the physical underlying.
Excerpt from the term sheet
“…The right to payment in kind is limited to the standard unit of bars of around 12.5 kilograms with the customary purity of 995/1000 or better…”
http://www.swissfunddata.ch/f...
The alternative is actual physical gold through a gold bar account available at some of the major international banks with their own vaults, assay.
The order has to be worded along: Gold bar of 1 kg 999.9 fin xxx piece (s) weight 0,99999 kg or 32,148 ounces, separately stored, physically deliverable at all times in xxxx to xxxx, free of any lien, no lending, not part of the custodian banks assets in case of bankruptcy, lack of liquidity, credit or any other similar event. If not worded that way, the bank will open a precious metal account which is only worth the paper it is written on if the bank fails….”
Gold ownership assumes a more or less functioning World or step 2, first improvement, after armageddon, anarchy:
“…Owning Gold and Silver is not about investing or wealth preservation. It’s about survival! I have 4 children that will need to eat…”
…but only to a certain extent, in a more or less functioning world.
I assume that you are assuming when you need your Gold there is still somebody out there fair enough to give you a fair shake. I beg to differ. A catastrophe is about survival of the fittest. Count on lots of hungry people with hungry children, too. And a few guns. And nothing to lose. Beside your smarts, an emergency stockpile and good defense is probably your best bet. And when things improve, have something ready to barter. Mobile goods that people can immediately recognise and evaluate.
Frankly, what shall I do with your Gold coins you want to give me for my sack of potatoes? Are the coins genuine? How many? What s the price? Even if I have mercy, maybe I ll take all the coins you have for a few pounds of my tubers. It is risky and I do not know how and when I can get rid of the coins. And you may scream to heaven if I hand over an entire sack of potatoes to the next fellow who offers me a few bottles of red wine instead. At least in my neck of the woods, people would give a king s ransom if they are short of the stuff… “
Cheers Just George…
a correction of 10% to 15% is indicated. those who bought gold because of it’s new high must be suitably punished.
I think the central bankers will panic soon and flood the market and this will gold to drag down the price somewhat. Marc Faber thinks Gold could correct to $900 US Dollars. If it goes there I will buy more.
Who will you sell your gold to?
The silver chart looks like a war zone
http://www.kitco.com/charts/livesilver.html
@ Ptah
I believe that spikes in the gold price reflect purchases by non US governments. The subsequent dips in the price likely represent more gold being thrown into the market by those who have it, and want to keep the price down (ie to preserve the value of fiat currency). Imo, it’ll creep upwards, until equilibrium is reached between their holdings of fiat vs bullion, and then the price of gold will skyrocket – simultaneous with a slurping sound, as wealth is transferred from fiat holders, towards bullion holders.
Do the spikes in gold prices represent some shorting going on somewhere else in the market? …Using Gold as part of another strategy and not part of the overall gold price trajectory.
My main frustration is that many friends do not believe they should buy gold, even though I have been advsising for more than a year now. I know some ‘financial advisors’ and they pretend to know nothing. People rather die with a sense of comfort than survive by adapting to circumstances..
Where’s the cartel?
The Fed’s Nemesis: Exter’s $2 Quadrillion Of “Liquidity”
http://www.zerohedge.com/article/feds-nemesis-exters-2-quadrillion-liquidity
what if the prize of gold gets to 2012!