Jim Willie - 13 Reasons Why Gold Will Hit $5000/oz
ksammut
Posts: 1,074 ✭✭✭
American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page
Instagram - numismatistkenny
My Numismatics with Kenny Blog Page Best viewed on a laptop or monitor.
ANA Life Member & Volunteer District Representative
2019 ANA Young Numismatist of the Year
Doing my best to introduce Young Numismatists and Young Adults into the hobby.
0
Comments
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
Looks like Syria is about to become a black swan event.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
<< <i>Looks like Syria is about to become a black swan event. >>
I think it already is a black swan, but may I ask what you think will happen exactly?
Interests:
Pre-Jump Grade Project
Toned Commemoratives
But they haven't. And the main driver of lower precious metals prices seems to have been accomplished by naked shorting by large bullion banks who have infinite backup if anything goes against them. But that's been changing. Nobody really knows which side of the equation will win the next round, in my opinion.
I knew it would happen.
<< <i>
<< <i>Looks like Syria is about to become a black swan event. >>
I think it already is a black swan, but may I ask what you think will happen exactly? >>
The cruise missiles are being fueled.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Any one of a number of major government and holders of gold can dump at any time with terrible results for the precious metal prices.
But they haven't. And the main driver of lower precious metals prices seems to have been accomplished by naked shorting by large bullion banks who have infinite backup if anything goes against them. But that's been changing. Nobody really knows which side of the equation will win the next round, in my opinion. >>
The game will change once China catches up to other central banks in their current gold holdings. Last time China reported having ~1k tonnes of gold in 2009, they are most likely in the 3k range in tonnes. Once they have caught up to Germany (~3k tonnes), there might be different rules to play this game. Time will tell and we might not have to wait very long to see how it plays out
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
<< <i>
<< <i>Any one of a number of major government and holders of gold can dump at any time with terrible results for the precious metal prices.
But they haven't. And the main driver of lower precious metals prices seems to have been accomplished by naked shorting by large bullion banks who have infinite backup if anything goes against them. But that's been changing. Nobody really knows which side of the equation will win the next round, in my opinion. >>
The game will change once China catches up to other central banks in their current gold holdings. Last time China reported having ~1k tonnes of gold in 2009, they are most likely in the 3k range in tonnes. Once they have caught up to Germany (~3k tonnes), there might be different rules to play this game. Time will tell and we might not have to wait very long to see how it plays out >>
That is a good point about China, that whole region could really get interesting in the next 10 years. China added their first aircraft carrier a couple years ago and India launched their first carrier last week.
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
<< <i>
<< <i>
<< <i>Looks like Syria is about to become a black swan event. >>
I think it already is a black swan, but may I ask what you think will happen exactly? >>
The cruise missiles are being fueled. >>
Well, there goes my home country. I always remembered it being safe and peaceful... I guess there are new realities I have to face.
I don't think the bombing of Syria is a black swan event*- the top military personnel have, from time to time, leaked that the US government has its own, premeditated plans for the Middle East (Syria won't be the last). In fact, if there's a reason gold will always be up due to uncertainties in the Middle East, it may very well be because the US gov't will actively partake in destroying the region. In this case, I would definitely load up on gold.
*to clarify, I mean that I expected the entire 3 year long conflict to be a black swan, but given the US's involvement, I don't expect the end result- the bombing- to be that surprising
Interests:
Pre-Jump Grade Project
Toned Commemoratives
top military personnel have, from time to time, leaked that the US government has its own, premeditated plans for the Middle East (Syria won't be the last
It wouldn't surprise me if there's been a plan in place for the last 40 years, but I have yet to understand what they want to accomplish, especially now. I have to assume it has to do with the Russians & the Chinese.
I knew it would happen.
Syria is a "grey event" and serious powderkeg.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I knew it would happen.
<< <i>Can the Nobel Peace Prize be un-earned, if it wasn't earned in the first place? >>
The committee is way too proud to have its "legitimacy" questioned by admitting an error on their part.
There was nothing admirable about giving the prize to a man who didn't deliver then and now. It was a huge insult to men and women who've rightfully earned it in the past- Nelson Mandela, Jimmy Carter, Shirin Ebadi, Henry Kissinger, and so forth. I understand that some people may not have liked these recipients one way or another, but each did consciously work toward contributing some positive change that was reflected in their prize. The man you're referring to literally made everything worse in the Middle East, and if I ever see him walking the streets of Chicago, I'd like to politely ask him if he's finally happy with his result.
<< <i>It wouldn't surprise me if there's been a plan in place for the last 40 years, but I have yet to understand what they want to accomplish, especially now. I have to assume it has to do with the Russians & the Chinese. >>
There are thousands of theories as to why the United States has interests in the Middle East. Some are extremely controversial, so I'll just share a popular one: the Middle East is a hotbed for energy production. The United States gets the majority of its oil imports from countries in other regions, but even if it were to completely cease importing any oil from the Middle East, the prices in the Middle East still affect the global price of oil substantially. Thus, if the United States was to have a direct hand in what happens in the Middle East, perhaps it believes it could benefit its energy industry.
<< <i>Cutting the military, gutting our alliances, arming our enemies and then fomenting wars one after another - doesn't make sense. There's your Black Swan. >>
jmski52, I sincerely wish I could agree with this. Unfortunately, a quick review of US intervention history in the Middle East begs to differ. The United States built Al Qaeda decades ago, and sadly, government funding has landed in their hands both directly and indirectly to destroy Syria.
Early last year (2012), my father and I, along with several other men representing the Syrian Christian community in Chicago, visited Illinois Senator Dick Durbin to urge the United States to keep tax dollars coming back to the American people and not "peaceful demonstrators" who were requesting automatic rifles and mortar bombs. I wish I could tell you that Mr. Durbin saw the logic in avoiding conflict and bloodshed; I wish I could tell you Mr. Durbin weighed his options once more and discussed alternative solutions to end the struggle of the Syrian people (you know, because suddenly, every congressman "cares"). He literally just bent backward in his chair, let out a smile, and calmly said, "Oh... you guys are getting caught up in the middle of this..." It did not surprise me to later find out that the local community of the Muslim Brotherhood in the greater Chicago Area have been making personal campaign contributions to Mr. Durbin for several years now.
derryb:
<< <i>Black swan events are out of the blue, unforeseen events that carry a negative financial impact.
Syria is a "grey event" and serious powderkeg. >>
Yeah, I know what a black swan is- and I think your "grey event" description is a bit more accurate, while "powderkeg" nails it 101%
Gentlemen, please excuse my ranting. I am so frustrated with how my country has been torn apart and the several family members who've passed away because of senseless fighting. To return to the regular topic, I'll add this: if the current Obama plans to bomb Syria proceed, I expect a really high level of market uncertainty to drive up gold futures.
Furthermore, here is a 1950 Syrian 1 pound, made of gold (photo taken from Heritage):
Interests:
Pre-Jump Grade Project
Toned Commemoratives