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Heard on the news !!!

Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
in Precious Metals
I heard in the news today that
Gadhafi may own as much
as 6 billion dollars in gold. What
would happen to the gold market
if that dollar amount was ever released
at once ?
Timbuk3

Comments

  • erickso1erickso1 Posts: 1,705 ✭✭✭
    I'm going to guess, not much. That is pretty close to 1% of the total amount held by the United States, and there is a lot more gold behind them in nations reserves and IMF, also SPDR ETF has close to $70 billion.
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭
    According to the news today, at the time of his death, Gadhafi was the richest man in the world.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭
    Another country would snap that up in a heartbeat.

    FYI for those that think there is a gold bubble by "hype" here is an interesting graph.

    gold ownership by country/captia


    MJ
    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......
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    when it comes to "news" it's already old.
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭
    The problem is that his assets were hidden all over the world. It won't be easy finding it.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • StaircoinsStaircoins Posts: 2,566 ✭✭✭

    Didn't do him much good, did it?

    In the end, he still died of lead poisoning. image



  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,359 ✭✭✭✭✭
    He doesn't own anything now. Its curious he didn't leave Libya when he had the opportunity.

    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>He doesn't own anything now. Its curious he didn't leave Libya when he had the opportunity. >>



    As an egomaniac he was in total denial that he would ever be overthrown.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • dpooledpoole Posts: 5,940 ✭✭✭✭✭


    << <i>

    << <i>He doesn't own anything now. Its curious he didn't leave Libya when he had the opportunity. >>



    As an egomaniac he was in total denial that he would ever be overthrown. >>




    I agree.

    He was manifestly a madman, who honestly believed that his people loved him.

    I almost felt compassion for the brute, watching his last few bloody moments, confronted with the hate he had convinced himself was impossible for a Lybian to feel. His last few seconds of life must have rendererd him literally insane.

    Here's a warning parable for coin collectors...



  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    Certainly he learned the routine for deposed dictators from Saddam. Rope or bullet, what's the difference.
  • CoynCoyn Posts: 194
    How much of it will ever surface. The banksters and those who financed his demise have already confiscated billions.

    Do you think the banks in Panama or the Caymens are gonna say, "hey we have a couple of billion who do we send it to?" It's already been removed.
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭


    << <i>Another country would snap that up in a heartbeat.

    FYI for those that think there is a gold bubble by "hype" here is an interesting graph.

    gold ownership by country/captia


    MJ >>




    Ok, nit picky timeimage

    1. What are the number atop the graph supposed to represent--oz per person?
    2. It's no coincidence that first-place Switzerland has seen its currency surge against the US Dollar.
    A. Lebanon has a lot of gold, yet their currency is flat-lined vs the dollar. And if it was pegged, do you really think it would be strong?
    B. Italy and France have more gold per person, so this would imply that if they had their own currency it would be strong?
    C. Portugal has more gold than Austria, so Portugal would have a stronger currency than Austria?
    D. Japan isnt even on the list, yet they have the strongest currency on the planet.


    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • erickso1erickso1 Posts: 1,705 ✭✭✭


    << <i>

    << <i>Another country would snap that up in a heartbeat.

    FYI for those that think there is a gold bubble by "hype" here is an interesting graph.

    gold ownership by country/captia


    MJ >>




    Ok, nit picky timeimage

    1. What are the number atop the graph supposed to represent--oz per person?
    2. It's no coincidence that first-place Switzerland has seen its currency surge against the US Dollar.
    A. Lebanon has a lot of gold, yet their currency is flat-lined vs the dollar. And if it was pegged, do you really think it would be strong?
    B. Italy and France have more gold per person, so this would imply that if they had their own currency it would be strong?
    C. Portugal has more gold than Austria, so Portugal would have a stronger currency than Austria?
    D. Japan isnt even on the list, yet they have the strongest currency on the planet. >>



    I can answer #1 for sure. Took me a minute to figure it out. The 0 - 6 graph is the value in gold per person (in dollars) held by citizens of that country. So Swiss people hold a little over $6k per person in gold. The number at the far right of the graph is the total reserves held by the country. So the country of Lebanon doesn't have a lot of gold, it's just their citizens hold a large amount of gold per person.

    (edited for better grammar)
  • JustacommemanJustacommeman Posts: 22,847 ✭✭✭✭✭


    << <i>

    << <i>Another country would snap that up in a heartbeat.

    FYI for those that think there is a gold bubble by "hype" here is an interesting graph.

    gold ownership by country/captia


    MJ >>




    <Ok, nit picky timeimage>

    <1. What are the number atop the graph supposed to represent--oz per person?>

    E just answered that one. It took for me a little longer then him to figure it out when I first saw this image

    <2. It's no coincidence that first-place Switzerland has seen its currency surge against the US Dollar>

    Yes, plus they have hot chicks as previously stated.

    < A. Lebanon has a lot of gold, yet their currency is flat-lined vs the dollar. And if it was pegged, do you really think it would be strong?>

    No. But they do like their gold. I have four close friends that I work with in China that are from Lebanon. They all own gold. I don't have four friends in all of the US that any own gold when discussed.

    <B. Italy and France have more gold per person, so this would imply that if they had their own currency it would be strong? >

    There are other factors but you know that. But no at face value. However, if Germany had their own currency it would make the yen and the swiss franc look like the dollar.

    <C. Portugal has more gold than Austria, so Portugal would have a stronger currency than Austria?>

    My painkillers just kicked in. You lost me or I no longer care. I forget whichimage. I do miss the escudo especially. it rolled off the tongue nicely

    <D. Japan isnt even on the list, yet they have the strongest currency on the planet>

    Either is China. Curious. Probably intentionally.

    MJ

    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......
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    , if Germany had their own currency it would make the yen and the swiss franc look like the dollar.


    And they would have an economy much worse than Japan's. The Germans should be VERY thankful for the Euro and all its troubles.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jeremymjeremym Posts: 330


    << <i>
    I almost felt compassion for the brute, watching his last few bloody moments, confronted with the hate he had convinced himself was impossible for a Lybian to feel. His last few seconds of life must have rendererd him literally insane. >>


    Interesting comment. That really made me think. Bravo!
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    If your country's currency was really crappy, wouldn't you try to own alot of gold too?image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>Another country would snap that up in a heartbeat.

    FYI for those that think there is a gold bubble by "hype" here is an interesting graph.

    gold ownership by country/captia


    MJ >>







    Its fun to be WAY over the average of the most gold affluent country, isnt it?
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