1. Greece getting bailed out means QE (printing of money) to infinity. That means gold would rise from here to $1650 by January of 2011, or as Martin Armstrong said, by June of 2011. The dollar would fall. Equities and commodities would rise.
2. Greece getting flushed means that would enrich the CDS OTC derivative tool. Immediately the next target currencies will be attacked by this tool. Currencies will fall like dominoes. At first the dollar will strengthen, equities will fall and gold will go lower. However, soon the recognition will come that a disaster has occurred that is more serious than the Lehman flushing. Confidence in currencies will fall everywhere. Gold will then rise not to $1650 by the same time in 2011 but to $5000 and perhaps beyond.
Either way both paved the road to a single virtual reserve currency and a single Central Bank (IMF) of Central Banks.
If Greece is bailed out it will take longer for the establishment of the single virtual reserve currency. If Greece is flushed it will happen so fast you will lose your breathe.
Either way I see gold as the only reliable fundamentally correct safe harbor. Gold will play a part at a very high price with the single virtual reserve currency in order to keep gold from being a competitor with it.
Gold’s role will be in the form of the Federal Reserve Gold Certificate Ratio, not tied to the dollar, but rather tied to the single virtual reserve currency in a ratio to a measure of world liquidity. There will be no interest rate automaticity to the new form for gold’s role in a monetary system. It will follow the many articles I have written on the FRGCR but not tied to the dollar but rather the single virtual reserve currency.
Gold will not be fixed or convertible but will trade within a market as a close band of the price gold is trading at when the single virtual reserve currency is created and will lend to this construct some real validity.
I do not favor any of this, but it will occur.
There is no other possibility to this unprecedented calamity at hand.
Respectfully,
Jim
Link Here
Man, you goldbugs are screwed.
ReplyDeleteGold issued on paper = toilet paper without physical gold to back it up.
And until the Fed is audited and the authenticity of gold reserves can be verified you're rolling the dice.
Don't get sucked in. I have more trust in monopoly money than gold.
8:25 is a liar. He has 12 Krugerands stuffed up his rectum!
ReplyDeleteLet's open him up and see!
Get the pitchforks and wood saws!
8:25 what a mindless post! If no Gold to back up the paper, then GOLD will skyrocket like a tungsten time bomb. Like the FEDERAL RESERVE has GOLD? How do people dream up these insane mindless posts?
ReplyDeleteGold huge waste of money, it will just be CONFISCATED anyway as they will not stand for any other form of money, don't buy into the whole "SILVER AND GOLD WILL SAVE ME" story....what a joke. It is metal and nothing more, it's all a SCAM
ReplyDeleteGold is bogus
ReplyDeleteWould you like a Tungsten waffer with that coffee?
ReplyDeleteAnyone who is lucky or smart enough to have real gold (not paper) will only have it confiscated by the system they bend over to.
ReplyDeleteSoon goldbugs... very soon
More insane remarks! CONFISCATED?
ReplyDeleteKnock knock!
YOU: Who is it? DOOR: Its the IRS.
IRS:OPEN UP.
YOU:Just a minute. Yes?
IRS:We are here to collect your GOLD.
YOU:Hold on its in the backyard I'll dig it up for you.
IRS: Thanks.
YOU: Thanks for coming, by the way, I do have more in this cupboard, behind the wall under the floor beneath my bed. Shall I get it?
IRS: YES right now, how dare YOU!
STUPID POSTERS ABOVE!
That is why you MUST have paper gold, ETF's or whatever, then it is safe, you can still ride the wave,lol if there is one, and get CASH when you sell CASH IS KING mutthafuggas
ReplyDeleteDOn't be dumb and buy the stuff that will get taken from you sooner or later
If you must by worthless medal then by silver as it might be left alone but all gold will be taken back from you just as 10:22 points out
It will NOT be taken away...People will be offered worthless paper for it and told to turn it in which will do 3 things.
ReplyDeleteStart a HUGE black market for it.
Make you a fake profit that you can use to pay off loans/bills using their worthless paper.
Cause a huge run on anything having to do with it which then cycles to cause paper money to fall faster.
Either way confiscation does NOT work but you can still use their stupidity to your advantage.
Confiscation of gold only does 1 thing. Its the government admitting their paper is worthless. Americans already are aware of the 1932 confiscation. They wont turn it in this time.
ReplyDelete8.25 10.04 and 10.05 are all the same person.Its that lonely sad guy who can,t get a girlfriend and still lives with mum,A real sad dude.
ReplyDeleteEven if gold is made illegal in the US, it will not be in most other countries who have more of an old world approach to PM as always being of value. A black market will open to those other countries, just as drugs and other prohibited items are traded and not taxed. Gold and Silver will always be of value, not only are they recognized by other countries but they are both useful industrial metals. Will they make you rich? Who knows, but they will never be worth nothing. If guns are made illegal, will you just run out and turn yours in, I think not, oops I lost that one in the woods when I was being chased by a bear LOL. Gold, Silver, Brass, Lead, Blue Steel, all PM's.
ReplyDeleteThe Government doesn't have to confiscate PMs this time around. All it has to do is run the economy into the ground and watch people cash in their PMs to make ends meet. No fuss.
ReplyDeleteIt's that simple.
If they want my PM's they'll have to take my lead too.
ReplyDeleteThey'll never find it anyway.
I do understand the thinking of those who invest in Gold however if things got as bad as they could and our currencies crash to next to nothing, gold would also be worth nothing in my opinion. At that point, we would have nothing more than a barter society and in a barter society, gold is worthless. The only items that would really be worth anything would be the necessities or luxuries of life. A box of bullets, a bottle of whiskey a carton of cigarettes a handful of nails, a jar of preserves would be worth more than a handful of gold in my opinion.
ReplyDeleteread about the Siege of Leningrad. All people were concerned about was staying alive, getting food. People would bring wheel barrels full of priceless objects including gold and trade them for a slice of bread.
Gold allows people to move their wealth. Houses are not liquid. Thermonuclear blast and you have to move.
ReplyDelete5:53,
ReplyDeleteNo, no, no, no, NO! Your logic is wrong.
In the absence of workable fiat money, commodities rule.
PMs are USEFUL commodities ANYWHERE. Unlike other commodities, PMs are universal in acceptance. Even in your own write-up you admit that gold was traded for food. Perhaps the price of food, in the St. Petersburg situation, was a bit high, nevertheless, PMs were accepted nonetheless.
If you fear confiscation, get metals that have never been confiscated in the past. Case closed.
P.S. Evelyn de Rothschild is heavily invested in gold, oil and bonds (to control governments and corporations; bondholders are always paid off before everyone else). None of the people who come to this blog are shrewder than him. NONE!
First of all, I'm reading these comments and I'm struck by the lack of intelligence in many of the posts. How in the world does a topic like this bring out people who would post something like:
ReplyDelete"Gold is Bogus" or
"Anyone who is lucky or smart enough to have real gold (not paper) will only have it confiscated by the system they bend over to."
You can be for or against gold, but you should be able to state your case without resorting to sophomoric euphemisms.
This blog has a troll problem. Perhaps an exterminator should be brought in to terminate useless posts which provide a contribution sum of zero.
Here are MY comments on every post so far:
8:25 your confused my friend...
9:05 almost funny ;-)
9:17 quite correct
10:04 - 10:05 moron! (if it's bogus then why???)
come on, u s e y o u r w o r d s
10:06 I don't get it...
10:09 chicken little
10:22 good point, but beware of gov stings when
bartering w/PM
11:21 wow, u shur ar smart, so, u say I should
by sum silvur??
12:14 smart post
12:46 I believe you are correct, people will
not turn in PM for pennies on the dollar.
2:25 might be true :-)
2:41 bulls-eye, right on the money
3:16 some desperate and ignorant people will
undoubtedly turn in their gold if there is
confiscation, sad but true.
4:14 ok
5:53 this is the classic "road warrior" (movie reference) mentality. could things get this bad, possibly. how often in recorded history have things been this bad, "almost" never.
For the sake of argument, lets assume that you could not use gold during the "Siege of Leningrad", lets also assume that you were not part of the 3+ million who were either killed or evacuated. Here's a question for you, one week after the siege was over, do you think your gold would be worth anything? Of course it would! It's all a matter of perspective. You can always point out the most extreme and unlikely of scenarios, but don't expect them to hold up under the scrutiny of logic and historical evidence.
6:21 good point
7:17 nice post!
March 4, 5:06 hey!, it's the village idiot!!
Later,
Green Man
Do you know why most "gold haters" disparage gold?
ReplyDeleteThey are worried that the train is leaving the station and they don't have a "ticket".
Do you honestly think they are here to "help us poor "gold bugs" mend the error of our ways. No, its just psych 101. because they watched in horror as gold has gone from $300 to $1100 and they weren't "on board", they hope against hope, that they will be proven ultimately right when gold goes back to $300, or less...
-Green Man
Some posters get it; others don't
ReplyDelete1) Commodities - real tangibles - will rule. Read "The Alpha Strategy," and clue up some of you. The first poster in particular ....
Gold is used for preservation of capital, not to make a cup of coffee. Tangibles are just that, and I will not give up food, water, medical supplies, seed, sundries, clothing, or "tools" of any kind to someone with a gold coin ... it may be that they'll need to proffer 2 coins !
Gold will have a role, but it will be to act as a store of capital, in hope that some kind of market will rise from a period of chaos. Coppische ?
And the truly knowledgeable will NEVER have paper, since delivery of actual metal is contingent on a sequence of steps that will likely fall down in the near future. Germany recalled all their gold bullion from USFRBs last year, China and India are buying TONS of the metal ( after verifying that their delivery is not faux-gold) The LMBA has been offering 25% premiums to anyone willing to redeem their bullion holdings in tertiary ( paper ) payoff ... they literally DO NOT HAVE THE METAL. This is the bombshell at the core of the "tungsten" gold rumors, which are not rumors.
The US bullion reserves in Fort Knox have not been verified since Bretton Woods went bye-bye. They will not be verified, insofar as they likely do not exist anymore.
Once your tangible preparations have been made, then seek some investment in future capital markets with metals ... not paper.
OhioDude