The "real move" in gold is to come, predicted Egon von Gruyerz, founder of precious metals investment and storage company GoldSwitzerland.com, on Monday.
 |
Tom Grill | Iconica | Getty Images |
He told CNBC he sees the inflation-adjusted price of gold [XAU=X 1230.4 
0.05 (+0%) 
]"easily" rising to six times its current price ($1,210) to around $7,000 an ounce in the future on "normal" inflation.
0.05 (+0%) ]"easily" rising to six times its current price ($1,210) to around $7,000 an ounce in the future on "normal" inflation."Adjusted for real inflation (as per shadowstats.com) the 1980 gold peak in today’s prices corresponds to around $7,200 today. So gold could easily go up 6 times from the current price of $1,220 and still be within normal parameters," von Gruyerz's latest report for GoldSwitzerland.com said.
But von Gruyerz told CNBC gold could go higher if the world encounters hyperinflation.
The fears stemming from the European debt crisis will enhance gold's safe haven appeal, according to von Gruyerz.
"Gold is at this point not a bubble," he added. "It is not overbought."
An important barrier for gold is $1,220 an ounce and that barrier will be broken and it's "going to shoot up by probably $100 very quickly," von Gruyerz told CNBC.
"There will be nowhere near sufficient gold to satisfy demand at current prices. We had been expecting gold to start its acceleration in March 2010 and this is exactly what is happening. We expect the move to be relentless during most of this year with very few major corrections but with high volatility. Moves of $100 in one day could easily happen. So gold is likely to make a top in the next few years between $5,000 and $10,000," his report stated.
7000$? That is irrelevant at that point.
ReplyDeleteGold will be worth infinite dollars. How much human poop can I give anyone for a nugget of gold? No one would probably take that up unless they had some strange sexual fetish in which they get aroused eating it. I think it is called scat or something. Not that I'm into that, but when you look at other porn on the internet you will at some point run across advertisements of strange perversions.
So with that in mind, paper obviously will be worth a bit more; you can use it for fire, toilet paper, or maybe your child can scribble on it if they're bored waiting in a shelter. How much paper do you think someone would want for a nugget of gold? I'm sure it will have hire value than human poop, but 7,000$?
Now and then you get stupid people commenting on this blog. 10:19 ypu are definitely one of them, or you don't understand how things work. The new currency, whatever that may be will erase all others. GOLD value will always be that.."value" unlike fiat currency. So if the new currency is 100 new dollars for your 1000 old dollars, GOLD will still be that original $1000. You can then burn your fiat currency, while using your GOLD to purchase the new currency at FULL VALUE.
ReplyDeleteGold is no different to paper money. The only thing that gives Gold value is our perception that gold is valuable which is the same case for paper money. In the case of a total collapse, the only thing that will have value is land, not gold...can you grow food on gold???? NO NO NO NO then why should gold be a valuable asset???
ReplyDeleteProperty prices are down and very cheap, buy as many as you can and knock them down and grow veggies.....gold will not save you when everything collapses.
A return to a gold backed currency is the backstop for the ruling class elite after the Dollar Hegemony and Fiat Currencies implode in a mountain of unpayable debts.
ReplyDeleteWhen Fiat Paper is discredited ,Why there will no doubt be a loud demand from people to return to "real" gold backed money.
We are told here that Gold is a permanent measure of real value. And should be realistically valued in the thousands per ounce.
But, who now owns the bulk ,the tons of apparently missing gold that were once stored in the vaults of the Central Banks?
That will form the “backing” for the new money?
Where is those tons of gold stored now ?
In NY? in Switzerland ?In Israel ?
Have the billionaires put their insurance of future movable wealth out of the confiscatory reach of the big governments of the world?
Or will they be just waiting like good patriots to hand it over to governments on request at the price the Governments says?
Right now the value of gold and paper “gold certificates” are being manipulated to preserve the illusion that the fiat paper currencies still have real buying power.
despite wild money printing by the central bank Cabal of trillions of dollars .
A Fiat currency needs a “free” gold market to preserve its credibility as competitive value to the paper.
A small minority speculate in small amounts of gold and silver creating a market for that small amount of real gold still allowed by the elite to circulate.
And believe that when gold is restored as true money that they will be allowed by the same elite to make huge windfall profits .Like winning the lottery.
They have faith that their gold and silver will not be confiscated or bought at a low
Fixed price by government as it was in the last depression ‘in the national interest”
That individuals with guns can protect their precious metals from the state.
Is that faith and confidence by the individuals in the Corporate State respecting their 'constitutional" rights to pea –shooters ,to keep their lottery tickets payout winnings, without having it taxed away justified .
It appears to me, That that the EA heritage seeds, might be a better more secure investment in the future?
Gold is great, but silver is better. Don't be stuck with worthless fiat notes, buy silver.
ReplyDelete1019 one ounce will buy shelter, a vehicle, cart loads of groceries, which the starving and goldless will not be able to afford, if you want to buy poop with your gold that is up to you, or you can produce it yourself so no need to pay for it.
ReplyDeleteYou chickenheads done buyin up my gold yet
ReplyDeleteBrutha can't wait around all day
and shit
10:32 lets assume you own all the Gold of the world and I own all the land of the world (I used paper money to buy land now and you used paper money to buy Gold now) then tell me why would I accept gold for land.....land will provide me food, water and a place to build my shelter and you can poo on your gold as much as you want by eating air.
ReplyDeleteLand is more valuable than Gold...buy them as they are cheap as chips then you can grow as many potatoes as you want to make chips...
1041 what if I already have land, food and gold, what is the problem, if you own land and have a cow, you can eat your cows poo
ReplyDeleteJust to add to 10:41 if you buy all the land, you have access to the resources of the land including gold. Therefore, you win gold is more valuable.
ReplyDeleteAlso 10:32 cannot poo on his gold by eating air, he will only be able to fart.
10:46 unfortunately for you I also own all the Guns, ammunition and bombs and will soon take away all your land, food and gold.
ReplyDelete"Gold will be worth infinite dollars."
ReplyDeleteOne can imagine and speculate on whatever you like is the 'real value" of gold and silver .
As for me I beleive in the "classical" economic value theories of Adam Smith ,Ricardo and Karl Marx , labour created value.
Marx Theory of Money said ,the value of any commodity includung gold was created by the socialy necessary labour time used in its production , individual concrete labour created value , valued socialy in exchange as abstract or "average"labour .
A measure of wealth ,usefull in faciltating exchange of commodities. In gold a compact easily storable and exhangable form of labour created value.MONEY.
Usury is another developement that grew in society later , from hoards of metalic value loaned out at interest.
Even gold backed
fractional reserve banking became possible with the birth of banksters .This bankster scam became "respectable" with government guaranteed
fiat paper debt money accepted for tax payments as legal tender.
The Mises,Hayek , Austrian Economics School distorts this classical theory of value
somewhat , but basicialy follows the classical labour theories of value on precious metal currencies as stores of wealth but opposes "excesses" in printing paper money as inflationary.
Just an Update the Price of Gold currently going down and Trading bellow $1230. Also Euro back up again and trading above 1.20
ReplyDeleteFor those who want to have Gold associated with Poo.
ReplyDeleteI beleive that Lenin said that in a sane world without money Gold might be used in the future to create gold plated toilet seats.
Easy to clean?
This was no doubt said before modern plastics were invented and stainless steel was only newly invented too .
So there is not even a reason nowadays to have gold in toilets at all.
They reason the trolls always come running when there is a positive discussion regarding GOLD is that GOLD is like a silver bullet and the banker is the WEREWOLF.
ReplyDeleteIt completely neuters their system of taxation, fiat money printing and inflation, and tyrannical control.
Say FU to the banks, buy gold and silver and get out of soon to be worthless FIAT NOTES of debt.
As time goes by the anti-Gold clowns will become more and more desperate with their nonsense and pathetic scare tactics.
ReplyDeleteBuy more if you can now.
Let's see Gold has beat the stock market hands down over the last ten years and the gains can be tax free. Hard call! ... and the collapse hasn't even really started yet.
ReplyDeleteLOVE THAT GOLD!
10:46 sure you do as you type that from your mommy's basement. Funny though!
ReplyDeleteEA you write: "Thanks to the many INCREDIBLY smart scholars here!" I strongly beg to differ. I read every article and post and I'm always amazed at some posters' complete lack of sophisticated thought, logic, and analysis. Many posts are poorly written, poorly reasoned, and appear to be written by uneducated or undereducated individuals. The "winner" for today is the poster who feels necessary to discuss fecal matter--a deranged individual who clearly adds no value to a discussion most pressing issue of our lifetime--the possible collapse of our economy and political system and how we will survive it. (Just for the record, I love gold and own lots of it.)
ReplyDeleteI remember once I was having an argument with a girlfriend and she said 'that's just YOUR perception'.
ReplyDeleteOf all the low down dirty tricks I never expected she'd have the AUDACITY to pull
that one out of the hat.
Because, really, our perception is all we have.
So if your gut feeling is that gold is worth something and is a better place to store your worth than paper, so be it.
Always follow your gut instincts.
"It is not the evil we have done, but the good we could have done and done not that troubles our consciousnesses most" - St Paul of Tarsus
(something like that)
Of course yuo do not just have Gold but also food, water, seeds, guns, ammo, silver.
ReplyDeleteNote if you have land what makes you think you will keep it? The government can take that from you and land is harder to hide then gold.
True people may or may not want to trade for gold but the US dollars might be worthless anyway so may as well have gold and silver.
Listen up everyone. Please, don't let us get caught up in the hype. We are shooting a barrage of good ammo at a combatant who is not worth a grain of salt. Just think if we stop to fight someone every time some speak out of place, we will be fighting most of the day. Save yourself for the good fight (surviving & owning gold, silver, water, land and food) I am 63 yrs old and if I took the time to fight every time some fool call me the N word, I would have scars all over my body. Instead, I manage to get my gold, silver, food, land and water. Guess what, still many years later, there are those who still want to put up a fight, but I am like Charlie Pride. He laugh his way to the bank every Monday morning after singing country and western songs. So many people were nagging him for singing country and western, but he is rich and they are not. So don't waste your time on idiots. It is time for progress. So if any fools respond in a negative manner to this post, I will not respond, but laugh at their A$$, just like Charlie. Well, I better go. I must go exchange some Ben Franklin ($100 bills) for my monthly gold and silver purchases. Have a good day.
ReplyDeleteThe real question is if gold has value and what will that value be? Right now you cannot take gold to a supermarket or a garage and use it as legal tender. You can only sell it to a jeweler or second-hand dealer for cash. So you're talking about using gold for barter if everything falls apart.
ReplyDeleteThat works only if the person you're bartering with will accept gold in exchange for food or ammo or whatever it is you want. There certainly will be people who will do that. But to try and figure out a cash value for gold is a waste of time because the value keeps changing. Gold is only going up now because so many investors don't trust the stock market.
Look, I understand that Fiat currencies are worth what they are perceived to be worth based on the strength of the country issuing them. The problem is, if we ever got to the day that all paper currencies became worthless than what is Gold? It's a shiny metal and that's it. Will your employer pay you in gold? No, how could they so who would work at that point if there was no currency to pay them? You either have a government currency or your entire society shuts down, Simple as that. And if it ever came to that, a loaf of bread, a handful of yarn or nails would be worth more than a lump of gold. Only tangible, useful items would have any value if all currencies were to collapse.
ReplyDeleteSo the underlying question is:
ReplyDeleteWhat gives now and historically gold its value?
Perceptions of scarcity, or expectations, hopes, or opinions, on what price it will bring in exchange?
Or, is their a real world material basis for valuing gold as a material store of wealth useful in circulation and exchange as money.
E.G.
The exchange value of socialy necessary labour time and cost of its production?
Whether it becomes useful as a self
increasing value by loaning it out in usury/interest is a different question and dependent on the type of economy we live in. And can the interest rate got be expected to be higher than the average rate of interest available in the money markets?
The 64 dollar political question in a fiat paper dollar economy:
Is whether the gold or silver will be permitted by governments to circulate by individuals as a socially recognised money form competing with the official legal tender in a time of economic crisis?
That's why
ReplyDeleteA) Diversification will never; ever go out of style. Get a little chunk of land; a Smith & Wesson; some PM's and a food pantry - do any of these items aver really go out of " style" - not really
B) American silver coins ( and Silver $1 Eagles ) are the way to go; they will always be worth a buck and unlike a hunk of gold bullion; you can trade a $1 Eagle for a meal at any grocery store in the nation.