Move over India. There is a new sheriff in town
Justacommeman
Posts: 22,847 ✭✭✭✭✭
Walker Proof Digital Album
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
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Mexico bought a big amount in Feb/Mar. China bought a bunch in Jan-Mar. Yet the price is only about $100 higher than the average during that time.
Governments tend to announce their purchases after they buy
Well, at least they aint that stupid.
Knowledge is the enemy of fear
China is now the world's leading gold producer with around 340 tons per year and growing. USA is 4th with Nevada accounting for over 80% of the production.
roadrunner
<< <i>Read the comments posted on that, bugs and bears, bubbles and bulls. Anybody hear of the Complete Dividend Plan that one of the posters mentions? My work blocked any of the first few sites that came up in google for me as suspicious business - spam crap? >>
try here
does this get blocked?
or here
ahhh for only $29.99! someone trying to make a buck on what i call "how to boil water"
Isn't all that new supply of gold coming on the market going to devalue the existing gold?
After all, they're "creating" valuable gold from worthless dirt and rocks.
I'm really worried that all this quantitative gold easing is going to devalue my existing gold
Liberty: Parent of Science & Industry
<< <i>Isn't all that new supply of gold coming on the market going to devalue the existing gold? >>
You can send all your devalued gold to me, I was thinking about casting some into a new sink for my bathroom.
<< <i>
<< <i>Read the comments posted on that, bugs and bears, bubbles and bulls. Anybody hear of the Complete Dividend Plan that one of the posters mentions? My work blocked any of the first few sites that came up in google for me as suspicious business - spam crap? >>
try here
does this get blocked?
or here
ahhh for only $29.99! someone trying to make a buck on what i call "how to boil water" >>
On the home laptop: yeah figured it was crapola
<< <i>China is now the world's leading gold producer with around 340 tons per year and growing. USA is 4th with Nevada accounting for over 80% of the production
Isn't all that new supply of gold coming on the market going to devalue the existing gold?
After all, they're "creating" valuable gold from worthless dirt and rocks.
I'm really worried that all this quantitative gold easing is going to devalue my existing gold >>
The gold is being found, not created. But the "finding" rate has averaged around 1-1/2% per year on average. That's a lot lower than the 3%/yr average "published"
inflation rate over the past 90 years, and multiples lower than the average growth in monetary aggregates M1, M2, M3. When compared to the growth of debt "money"
created outside the monetary system as well as otc derivatives, the gold increase is almost negligible in comparison and can be effectively called zero. A most barbarous
concept.
During the peak years of 2004-2008 otc derivatives were being created to the tune of around $150-$200 TRILL per year. The fact that the amount of gold is increasing
each year is no surprise or unexpected since at least in recent times, it really never gets destroyed in any significant quantities. But if it's increasing at the same amount
as the world's population is, then that would be what an alternate money aggregate should do to keep things on an even keel. Since world population growth has outpaced
the growth in gold reserves, it's only becoming relatively scarcer.
roadrunner
After all, they're "creating" valuable gold from worthless dirt and rocks.
I'm really worried that all this quantitative gold easing is going to devalue my existing gold
But, but, but, Baley - aren't we always being told that there isn't enough gold that it could ever be used as "money"?
I knew it would happen.