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Gold and politics

cohodkcohodk Posts: 18,034 ✭✭✭✭✭

Oftentimes our discussions devolve into political matters, but this article seems to indicate the two are intertwined. Thanks to the moderators to allow some discourse.

“We’ve just seen that there’s massive interest in this market that responds to what our messaging is,” said Ray Griggs of Advantage Gold

Gold Retailers Woo Trump Fans With Appeals to MAGA-Fueled Angst https://www.bloomberg.com/news/articles/2023-03-16/gold-retailers-woo-trump-fans-with-appeals-to-maga-fueled-angst

Excuses are tools of the ignorant

Knowledge is the enemy of fear

Comments

  • derrybderryb Posts: 35,114 ✭✭✭✭✭
    edited March 16, 2023 11:50AM

    IMHO:
    The effect of politics on PMs is limited to government spending and government legislation in the areas of banking and finance. The US Treasury also effects PMs with its actions. Any other discussion of government has no place on the forum. The Federal Reserve Bank is not a US government entity, it is owned by US commercial banks. The FED carries great inluence over PM prices.

    You can't hit the brakes on the car when you've already driven off a cliff.

  • cohodkcohodk Posts: 18,034 ✭✭✭✭✭

    IMHO....PM prices are driven in the short to intermediate term by emotions. There are some, perhaps many, who wish to control and manipulate PM prices and human emotions via fear. Pms are a fear trade. And fear is big business.

    As the article states, the PM message is adopted wholeheartedly by one side of the aisle and draws crickets from the other. That's quite an indictment of politics.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • blitzdudeblitzdude Posts: 4,787 ✭✭✭✭✭
    edited March 16, 2023 4:59PM

    Love the Au HATE the politics. Semper!! RGDS!!!

    The whole worlds off its rocker, buy Gold™.

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭
    edited March 17, 2023 6:45PM

    The politics mean squat. A few hundred thousand buyers of 1 or 2 ounces means NOTHING if a SWF or CB or other large holder drop a few hundred tons.

  • cohodkcohodk Posts: 18,034 ✭✭✭✭✭
    edited March 17, 2023 7:39PM

    @GoldFinger1969 said:
    A few hundred thousand buyers of 1 or 2 ounces means NOTHING

    Thousands? Seems there are 10s of millions--in this country alone.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 18,034 ✭✭✭✭✭

    @GoldFinger1969 said:
    The politics mean squat.

    If PMs do not have a root in politics, then why does the PM reseller only set up at Republican events and not Democrat? Don't the Dems have more money?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭

    @cohodk said:

    @GoldFinger1969 said:
    A few hundred thousand buyers of 1 or 2 ounces means NOTHING

    Thousands? Seems there are 10s of millions--in this country alone.

    I think there are a couple of million, tops. Maybe 10 MM at the upper end.

  • cohodkcohodk Posts: 18,034 ✭✭✭✭✭

    @GoldFinger1969 said:

    @cohodk said:

    @GoldFinger1969 said:
    A few hundred thousand buyers of 1 or 2 ounces means NOTHING

    Thousands? Seems there are 10s of millions--in this country alone.

    I think there are a couple of million, tops. Maybe 10 MM at the upper end.

    10 million buyers at 2 ounces per is about 20% of the gold mined per year. That's quite a demand component.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭
    edited March 21, 2023 8:28AM

    @cohodk said:
    10 million buyers at 2 ounces per is about 20% of the gold mined per year. That's quite a demand component.

    But not that many buy. If they did, you'd see those gold infomercials airing much earlier than 4 AM. :)

    My father bought some gold in 1994. Then he bought a coin or two in 2000. Then again about 2015. Maybe 6 coins in total over 30 years. He's the typical non-active buyer/collector. Ask dealers how often they sell to someone they DON'T KNOW -- it's very rare. Most of their active or larger buyers are people they know or buyers they see every few months...years...whatever.

    Also, that component has been pretty constant so it is NOT new demand. Plus, you have supply that can hit from central banks or speculators if the price rises.

    A bigger source of demand would be from the burgeoning middle class of India and China. India's GDP and national income should double by 2030....if gold merely tracks it you are talking about an extra 30,000,000 ounces of demand, maybe more.

    Asia and the NICs....China....South/Central America...maybe Africa....lots of potential demand over the next decade. Will Crypto/BitCoin steal some of the thunder, though.....

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭

    @cohodk said:

    @GoldFinger1969 said:
    The politics mean squat.

    If PMs do not have a root in politics, then why does the PM reseller only set up at Republican events and not >Democrat? Don't the Dems have more money?

    Probably because your grass-roots GOP voter is into monetary issues but your grass-roots Dem voter is not.

  • ctf_error_coinsctf_error_coins Posts: 14,606 ✭✭✭✭✭

    @cohodk said:

    @GoldFinger1969 said:
    The politics mean squat.

    If PMs do not have a root in politics, then why does the PM reseller only set up at Republican events and not Democrat? Don't the Dems have more money?

    wow, I could easily answer that but a don't want PM from Heather >:)

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭

    @ctf_error_coins said:
    wow, I could easily answer that but a don't want PM from Heather >:)

    It's actually not a political issue, it's a socioeconomic one.

    Same reason why infomercials run at 4 AM and not in primetime. :)

    Josh Brown on CNBC was very bullish on gold today.

  • ctf_error_coinsctf_error_coins Posts: 14,606 ✭✭✭✭✭

    @cohodk said:

    @GoldFinger1969 said:
    The politics mean squat.

    If PMs do not have a root in politics, then why does the PM reseller only set up at Republican events and not Democrat? Don't the Dems have more money?

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,105 ✭✭✭✭✭

    @cohodk said:
    Oftentimes our discussions devolve into political matters, but this article seems to indicate the two are intertwined. Thanks to the moderators to allow some discourse.

    “We’ve just seen that there’s massive interest in this market that responds to what our messaging is,” said Ray Griggs of Advantage Gold

    Gold Retailers Woo Trump Fans With Appeals to MAGA-Fueled Angst https://www.bloomberg.com/news/articles/2023-03-16/gold-retailers-woo-trump-fans-with-appeals-to-maga-fueled-angst

    This link seems to indicate that you're right. And who is overcharging who ? For what ?
    https://www.usmint.gov/

    Can't know yourself, 'til you get back to Earth

  • GoldFinger1969GoldFinger1969 Posts: 318 ✭✭✭

    Those shyster frauds are selling hope and hype.

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