The reason why gold was up $150 today

MsMorrisine

Deficit and debt unsustainable

https://www.marketwatch.com/story/federal-budget-deficit-to-exceed-1-trillion-next-fiscal-year-cbo-says-2019-08-21

blitzdude

Gold was up $150 today? I got it down $4.90 and a bit more afterhours. Must be talking someone else's $$$. Certainly not in Russian US dollars.

MsMorrisine

Perhaps this belongs in the perpetual it's not SHTF and the dollar isn't collapsing thread.

Jinx86

If there were that kind of swing, I would still be in the office taking calls from buyers and sellers.

Im thinking 1450 end of month. No particular reason.

mapleman

I sold a bit at 1499. Holding the better stuff for next upward move.
Will buy if a significant dip developes.

ricko

I did not see a $150 jump....not on Kitco anyway.... Cheers, RickO

LukeMarshall

Maybe change the title to the reason Rhodium went up $150+ today??

TwoSides2aCoin

You're talking Rhodium, today.

coinpalice

yeah, gold is on fire

MilesWaits

Boy, this may come true if the Tweeter keeps on tweeting.

OPA

Not sure on what Planet gold went up by $150....but it sure wasn't on the one I'm living on.

MsMorrisine

ok, we've established that gold did not go up $150

but we had a reiteration from the CBO that the deficit and the debt levels are unsustainable.

In fact, the trade war moved it but the debt did not.

if the debt issue doesn't make people think the SHTF and the dollar collapse, then perhaps the debt is not going to make it. though with the gold rise of $25 today on the back of trade war issues, perhaps it might a little bit in the short term?

Soldi

On a lighter note Greenland is melting and we are all going to drown, lest you can tread water until next winter.

Meltdown

@Soldi said:
On a lighter note Greenland is melting and we are all going to drown, lest you can tread water until next winter.

Hmm, I wonder if Greenland is for sale? We should all buy it.

Skrill90

if gold is up $150 I should take all my circs to the refiner.

ARCO

@MsMorrisine said:
ok, we've established that gold did not go up $150

but we had a reiteration from the CBO that the deficit and the debt levels are unsustainable.

In fact, the trade war moved it but the debt did not.

if the debt issue doesn't make people think the SHTF and the dollar collapse, then perhaps the debt is not going to make it. though with the gold rise of $25 today on the back of trade war issues, perhaps it might a little bit in the short term?

Debt is money to someone else. If debt collapses, so does everything else. QE didn't fuel inflation, at least not from the perspective of gold prices.

If debt collapsing is bad, and QE just has gold dropping from $1900 to $1050 in seven years, what on earth will drive gold prices up? The only thing I can see is increased debt and going from QE to full blown MMT.

In this case, you still need the debt. Dollar collapse? there goes the whole world economy.

MsMorrisine

We have increasing debt to unsustainable levels.

Where's the dollar drop?

derryb

@ARCO said:
The only thing I can see is increased debt and going from QE to full blown MMT.

yep, The Magic Money Tree will solve everything.

Overdate

The debt will never be a problem. Here's why:

Interest rates will continue to decline.
When they reach minus 100% the government will issue $25 trillion worth of bonds, which they will never have to redeem.
Problem solved!

(Who wants to nominate me for a Nobel Prize?)

blitzdude

When it happens I'm telling ya its gonna be Bigly!! Get some!!! lol

Soldi

Ditto

The best economists are flummoxed all they can say is "It's going to end badly, how? I dunno , just badly."

The above is a combination of my opinion, my 25 year old university study in Economics, OPINION and a dose of plagiarism,
Thank you. __

3stars

A store of value unless you bought a few years ago at $1800-1900, then you saw your “value” drop considerably

MilesWaits

After market gold is looking stronger!

MsMorrisine

Trade war not currency war

Baley

@Soldi said:
__You know metals will follow. Don't cha know?
They are a store of value, not a way to make money.
This thing has 30% of the worlds Central Banks charging money, to hold onto money, currencies.
Germany issued negative rate Bonds, Foreign Investors are running to the USA for USD denominated Bonds
US Bonds pay interest. Fiscal policy is the only one of two muscles that can be flexed the other Monetary Policy

AS I SAID has no bullets left in the chamber. There will be NO Q. E. NONE !!! Only a change in Fiscal policies and this
"thing" is going to end badly.

I suggest that everyone on these boards who buys coins is buying negative rates and most of the "sharps" don't hold any
numismatic coins and furthermore will be surprised to see Gold follow suit.

Now, this post has got to get you studying what's really going on.

The best economists are flummoxed all they can say is "It's going to end badly, how? I dunno , just badly."

The above is a combination of my opinion, my 25 year old university study in Economics, OPINION and a dose of plagiarism,
Thank you. __

Welcome aboard Soldi, you'll fit right in here. Suggest you read past threads; might be surprised at what posters here "hold", including diversified financial portfolios and nice coin collections, real estate with "bug out" cabins, survivalist assets with food, water, weapons and lots of practice, you name it.

Start with the alluded-to perpetual not SHTF thread 🥂

blitzdude

@MilesWaits said:
After market gold is looking stronger!

Well past my bedtime. Sleeping like a baby. Congrats!

Soldi

Ditto

cohodk

Oh...you do indeed fit right in Soldi. Lol

Soldi

woe is me, woe is me

Soldi

Not important removed

Soldi

https://www.truthdig.com/articles/wall-streets-worst-2020-nightmare-is-coming-true/