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Would you buy a ton of gold today if it was $932 an ounce?

DoubleEagle59DoubleEagle59 Posts: 8,140 ✭✭✭✭✭

Of course you would.................

and it can be done today (sort of).....

Buy Platinum today at $932.

I believe Platinum will, in the future, catch up to gold's price and may even overtake it (as its historical price has been equal to, if not higher than gold).

Then if you want, keep the platinum, or trade it back for gold and you have basically doubled your gold ounces.

"Gold is money, and nothing else" (JP Morgan, 1912)

"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

"I only golf on days that end in 'Y'" (DE59)

Comments

  • rte592rte592 Posts: 1,385 ✭✭✭✭✭

    Note to self don't gamble with DoubleEagle :D

  • GoldFinger1969GoldFinger1969 Posts: 1,165 ✭✭✭✭
    edited December 1, 2023 12:41PM

    The problem is that the long-term demand for platininum and palladium is going down because of BEVs.

    That's a MAJOR drop in demand that is already reflected in the price drops for the white metals group including palladium and platinum.

    Honestly, I wouldn't be surprised to see each in the $500 range a few years from now.

  • GoldFinger1969GoldFinger1969 Posts: 1,165 ✭✭✭✭
    edited December 1, 2023 1:27PM

    "The outlook for Platinum Metals Group looks weaker than consensus, with an Ebitda downgrade of up to 27% in our scenario. While we expect platinum to remain in deficit throughout the rest of this decade, palladium and rhodium will shift to surplus and stay that way for the foreseeable future. As the EV transition continues, the 90% of demand for palladium and rhodium that comes from ICEs will weaken demand for both metals."

  • scubafuelscubafuel Posts: 1,716 ✭✭✭✭✭

    Who are you quoting?

    What is the industrial demand for gold? The best thing to happen to platinum is to be thought of as a precious metal, not an industrial metal.

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    The industrial need for catalysts such as platinum and palladium won’t be disappearing any time soon.

    The economic justification for EVs simply won’t pass the test of time either, not until hydrocarbons are truly depleted.

    We’ve already seen what happens to the price of platinum when changes in the automotive industry occur. The opposite can happen as well, and in relative terms platinum is at pretty much historic lows compared to the price of gold.

    I don’t know that platinum can ever transition into becoming primarily a monetary metal, but I wouldn’t discount that possibility entirely. It is a precious metal by most definitions already, and it is scarce enough to be valued higher than gold on that basis alone.

    Clearly, the concept of money needs to be linked to physical commodities or real assets instead of debt.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,103 ✭✭✭✭✭

    @DoubleEagle59 said:
    Of course you would.................

    and it can be done today (sort of).....

    Buy Platinum today at $932.

    I believe Platinum will, in the future, catch up to gold's price and may even overtake it (as its historical price has been equal to, if not higher than gold).

    Then if you want, keep the platinum, or trade it back for gold and you have basically doubled your gold ounces.

    You should have reworded your thread...I don't believe anyone posting here, has the funds to do so.

    1t= 35273.96oz x 932 = $32,874,436 o:)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • SoldiSoldi Posts: 2,013 ✭✭✭✭✭

    Troy? 32151 x $932.

  • GoldFinger1969GoldFinger1969 Posts: 1,165 ✭✭✭✭

    @scubafuel said:
    Who are you quoting?
    What is the industrial demand for gold? The best thing to happen to platinum is to be thought of as a precious >metal, not an industrial metal.

    Trade industry and sell-side analysts.

  • GoldFinger1969GoldFinger1969 Posts: 1,165 ✭✭✭✭

    @jmski52 said:
    The industrial need for catalysts such as platinum and palladium won’t be disappearing any time soon.

    True, but their GROWTH and MARKET SHARE are going down. Which means CAPX will drop and folks will dump or sell at any price.

    By 2030, I expect the price for each to be cut in half. :o

    The economic justification for EVs simply won’t pass the test of time either, not until hydrocarbons are truly
    depleted.

    The market disagrees with you. :)

    We’ve already seen what happens to the price of platinum when changes in the automotive industry occur. The >opposite can happen as well, and in relative terms platinum is at pretty much historic lows compared to the price of >gold.

    I don’t know that platinum can ever transition into becoming primarily a monetary metal, but I wouldn’t discount >that possibility entirely. It is a precious metal by most definitions already, and it is scarce enough to be valued >higher than gold on that basis alone.

    Historically, gold is the more desirable and useful metal. Without ICE demand, expect the entire PMG sector to retrace to early-1990's prices.

    Clearly, the concept of money needs to be linked to physical commodities or real assets instead of debt.

    Why ? The market has spoken and folks don't want currencies tied to hyper-volatile commodities.

  • dcarrdcarr Posts: 7,888 ✭✭✭✭✭

    @GoldFinger1969 said:

    @jmski52 said:
    Clearly, the concept of money needs to be linked to physical commodities or real assets instead of debt.

    Why ? The market has spoken and folks don't want currencies tied to hyper-volatile commodities.

    In case you don't know, if a currency is linked to a commodity then the price of that commodity in that currency is stable by definition.

    As for why a currency will need to be backed by something other than debt (as the US Dollar is now), it is because:
    A debt-based monetary system functions OK so long as the population is growing and new people come into the system and take on debt. Otherwise, if the population stops growing and people aren't taking on more debt then money has to be printed to pay the interest. Signs of this already happening are manifesting as high inflation in conjunction with relatively low interest rates. The real problem is that the human population can not continue to grow forever. At some point it will have to plateau and probably drop significantly after that. "Nature" will limit the human population via scarcity of resources, pandemics (as we have had recently), etc.

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    The market has spoken and folks don't want currencies tied to hyper-volatile commodities.

    Do folks want a currency based on a non-convertible imaginary asset that leaves their entire net worth subject to the whims of an unaccountable central bank & the corrupt government officials that they own?

    This year could require another $2 trillion in deficit spending, and that’s only the visible portion of the “process”. Looks like Margaret Thatcher was right - they’ve completely run out of other peoples’ money but they still keep spending more and more.

    I don’t think it’s sustainable. You think that commodities are volatile? Wait and see what happens to the dollar when the debt implodes.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭

    @jmski52 said:
    The market has spoken and folks don't want currencies tied to hyper-volatile commodities.

    Do folks want a currency based on a non-convertible imaginary asset that leaves their entire net worth subject to the whims of an unaccountable central bank & the corrupt government officials that they own?

    Non-convertible? You and everyone else converts it every single day.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    You may not understand the reference to “convertibility”.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭

    @jmski52 said:
    You may not understand the reference to “convertibility”.

    Well then please enlighten me.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    You know what convertibility refers to, don’t you? Of course you do.

    The bane of the banking system is real convertibility - real money such as gold that can’t be poofed into existence or hypothecated into a pretend asset by the bankers.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭
    edited January 19, 2024 5:22AM

    @jmski52 said:

    real money such as gold that can’t be poofed into existence or hypothecated into a pretend asset by the bankers.
    >

    Here's a picture of gold being poofed into existence.

    Labor and food is more "real money" than gold.

    Gold has value because folk say it does, just as the dollar or yen has value because the US or Japan says it does.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • johnny9434johnny9434 Posts: 27,321 ✭✭✭✭✭

    Yes, it's only money 💰 🙄

  • derrybderryb Posts: 36,018 ✭✭✭✭✭

    only a fool would. If it goes to $932, then it's going much lower.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • EstilEstil Posts: 6,845 ✭✭✭✭

    Who besides Scrooge McDuck could afford a ton of gold?

    WISHLIST
    Dimes: 54S, 53P, 50P+S, 49S, 45D+S, 44S, 43D, 41S, 40D+S, 39D+S, 38D+S, 37D+S, 36S, 35D+S, all 16-34's
    Quarters: 61D, 52S, 47S, 46S, 40S, 39S, 38S, 37D+S, 36D+S, 35D, 34D, 32D+S
    74 Topps: 37,38,46,47,48,138,151,193,210,214,223,241,256,264,268,277,289,316,435,552,570,577,592,602,610,654,655
    1997 Finest silver: 115, 135, 139, 145, 310
    1995 Ultra Gold Medallion Sets: Golden Prospects, HR Kings, On-Base Leaders, Power Plus, RBI Kings, Rising Stars
  • jmski52jmski52 Posts: 22,265 ✭✭✭✭✭

    There’s a good interview with David Webb, author of “The Great Taking” is currently on USAWatchdog.com and is worth your time & attention.

    As much as coho & GF try to promote the corrupt debt-based banking system, the facts are the facts.

    New legal terms have been invented to allow the big banks to legally strip ownership the property rights of financial assets away from the rightful owners who bought the assets.

    The interview details how the legal system has been re-designed to steal as much of the world’s collateral as possible in the very near future.

    Get out of debt.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • blitzdudeblitzdude Posts: 5,290 ✭✭✭✭✭
    edited January 22, 2024 4:44PM

    @jmski52 said:
    Get out of debt.

    Get out of debt? Really?? You should be racking up as much debt as possible and when the party stops just file bankruptcy 3, 4, 5 times...... Heck they might even call you a stable business genius and make you the el presidente. LOL Crazy World!

    The whole worlds off its rocker, buy Gold™.

  • cohodkcohodk Posts: 18,495 ✭✭✭✭✭

    @jmski52 said:
    There’s a good interview with David Webb, author of “The Great Taking” is currently on USAWatchdog.com and is worth your time & attention.

    As much as coho & GF try to promote the corrupt debt-based banking system, the facts are the facts.

    New legal terms have been invented to allow the big banks to legally strip ownership the property rights of financial assets away from the rightful owners who bought the assets.

    The interview details how the legal system has been re-designed to steal as much of the world’s collateral as possible in the very near future.

    The great ones lack of understanding, the greater their fear and susceptibility to manipulation.

    You think "they" are going to take your house if you have a mortgage? What are "they" going to do with 100 million houses?

    You think "they" are going to take your farm? Who will they get to farm it?

    You think "they" will take your 401k? They would wouldn't survive the wrath.

    Stop being so weak.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dcarrdcarr Posts: 7,888 ✭✭✭✭✭
    edited January 23, 2024 11:29AM

    @cohodk said:

    @jmski52 said:
    There’s a good interview with David Webb, author of “The Great Taking” is currently on USAWatchdog.com and is worth your time & attention.

    As much as coho & GF try to promote the corrupt debt-based banking system, the facts are the facts.

    New legal terms have been invented to allow the big banks to legally strip ownership the property rights of financial assets away from the rightful owners who bought the assets.

    The interview details how the legal system has been re-designed to steal as much of the world’s collateral as possible in the very near future.

    The great ones lack of understanding, the greater their fear and susceptibility to manipulation.

    You think "they" are going to take your house if you have a mortgage? What are "they" going to do with 100 million houses?

    You think "they" are going to take your farm? Who will they get to farm it?

    You think "they" will take your 401k? They would wouldn't survive the wrath.

    Stop being so weak.

    .

    They don't necessarily want to physically take away your assets.
    But governments and large corporations want you to pay to keep them.
    They tend to want more servitude and less freedom for the general population.
    Free-and-clear ownership of things is dwindling.

    You may think that you own your own home, but that is not the case.
    The county can dictate what you have to pay to stay there (property taxes).
    The cost keeps going up.

    It used to be that you owned your own records, tapes, CDs, VHS movies, Blu-Ray movies, etc. You could play them anytime you wanted for free. Now they don't want you to have your own media. They want you to access "the cloud" instead, and pay every time you stream something.

    Small family farms are vanishing, swallowed up by large corporate conglomerates.

    It used to be that the "freeway" was literally "free" to drive on.
    But then traffic congestion got bad.
    Now all the extra lanes that they add to alleviate that congestion cost money to drive in.
    So "feeway" it is.

    They don't want you to have possession of your own precious metal. That is not allowed with your retirement savings (401K). Instead, you are supposed to buy an "ETF" or arrange other 3rd-party custody and let them "take care of it" for you. So you never even get to see what you supposedly "own". You are not allowed to physically possess, or utilize to your benefit, any of your 401K assets. Instead, you have to have a mortgage and even if you wanted to put your 401K funds into your own house to pay it off, you can't (without great penalty).

    Day-to-day transactions used to be in cash, which had no fees and no middle-man.
    But now you are supposed to use your credit card and pay the middle man 3% off the top for everything.

    George Orwell ("1984") saw it all to clearly, even in 1948 when he wrote it.

    .

  • DoubleEagle59DoubleEagle59 Posts: 8,140 ✭✭✭✭✭

    DCarr....I agree.

    Gov't have shown a consistent trend over time and that is, more taxes, greater control on society and a gradual erosion of our freedoms.

    A classic example is my beautiful country of Canada.

    It used to be one of the most admired countries in the world for its laws and freedoms and its general polite way of life and now with our present King in power, it's gone right down the crapper.

    Kevin O'Leary said it best just a few nights ago on a broadcast when he said "our Prime Minister is so incompetent, I wouldn't even have him manage a candy store, let alone a country".

    Sorry for getting off track.................

    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
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