Last sentence in the article: "Gold traded little changed on Friday at $1,233.87 an ounce." Really? But we have all heard similar stories before...China, Russia, buying up tons of Gold. The price of gold or any precious metal, is dictated by the "paper traders" and so far they are only nibbling and not having much of an impact on the price.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
The gold market is seldom boring.... always diverse inputs, gloom and doom, sky high predictions - and meanwhile, gold just moves along... sometimes up a bit, sometimes down... trend lines go
along like gentle waves on a big lake. Cheers, RickO
Originally posted by: ricko The gold market is seldom boring.... always diverse inputs, gloom and doom, sky high predictions - and meanwhile, gold just moves along... sometimes up a bit, sometimes down... trend lines go along like gentle waves on a big lake. Cheers, RickO
Not so sure about your "gentle waves" diagnosis. More like the Space Shuttle lifting off or taking a ride down Niagara Falls.
"Bongo drive 1984 Lincoln that looks like old coin dug from ground."
Confidence in the things that prevent a need for gold (currency, policy) will determine the price of gold. As that confidence decreases, the need and price of gold increases.
@cohodk said:
And 6 months later price is "little changed".
Also unchanged is the protection it provides from politicians. Does your gold not protect you? If not, send it to me. I'll keep it safe until I need it to keep me safe.
We all make our own choices and have only ourselves to blame. You could create your own island, or not. You could choose to share an island, or not. You could decide to do anything, or nothing. Those are your choices, and the consequences are your responsibility.
Shoot, if it's that simple then I choose not to pay taxes for the things I consider to be wasteful government spending. I also choose to set my own interest rate that my savings earns. While I'm at it I choose to pay only half the cost of over priced health care. Oops, forgot that there are consequences. Looks like I don't really get to make my own choices after all.
There is a new wave of interest in platinum jewelry in India, as the platinum price is currently $300 below that of gold. This negative relationship between gold and platinum has only occurred four times in forty years.
@cohodk said:
You've declared on this forum that gold is your protector, your savior. That's your choice.
I've chosen differently.
Gold is my protection for just a few of the things that I as an island have no control over. I have all kinds of protection for the things I cannot control; it's called risk management. Try it.
@Bodan said:
There is a new wave of interest in platinum jewelry in India, as the platinum price is currently $300 below that of gold. This negative relationship between gold and platinum has only occurred four times in forty years.
That doesn't mean that it's not going to continue for the next 40 years.
PaleElf: Perhaps this is the new normal for platinum:gold ratio. However raw fundamentals of platinum and palladium dictate a higher price. Here is an interesting site about the PGM metals with links to relevant articles:
@cohodk said:
We all make our own choices and have only ourselves to blame. You could create your own island, or not. You could choose to share an island, or not. You could decide to do anything, or nothing. Those are your choices, and the consequences are your responsibility.
Some people happen to the world, other people, the world happens to them.
@derryb said:
Shoot, if it's that simple then I choose not to pay taxes for the things I consider to be wasteful government spending. I also choose to set my own interest rate that my savings earns. While I'm at it I choose to pay only half the cost of over priced health care. Oops, forgot that there are consequences. Looks like I don't really get to make my own choices after all.
Your decisions are made in context. If you "choose" not to pay your taxes, but still try to take all the things taxes are for, then you will experience the context that you create. If you try to force someone to pay you interest, good luck with that. If you choose to welsh on your healthcare bills, good luck getting treatment next time you're sick. you talk like a victim of the world instead of an agent of your own destiny
@Bodan said:
There is a new wave of interest in platinum jewelry in India, as the platinum price is currently $300 below that of gold. This negative relationship between gold and platinum has only occurred four times in forty years.
A 40% drop in gold might fix that. What you think?
Likely the spread will narrow if it follows history. With global markets in flux, perhaps platinum will rise faster than gold might. Or, as you say, gold may retreat. Either way, I sense a rise in the platinum price.
Hillary is bringing another 115,000 refugees into the US in 2017
Better vote mr T to stop the madness.
Gold going to $5k when the dollar gets crushed due to debt
@derryb said:
Shoot, if it's that simple then I choose not to pay taxes for the things I consider to be wasteful government spending. I also choose to set my own interest rate that my savings earns. While I'm at it I choose to pay only half the cost of over priced health care. Oops, forgot that there are consequences. Looks like I don't really get to make my own choices after all.
Your decisions are made in context. If you "choose" not to pay your taxes, but still try to take all the things taxes are for, then you will experience the context that you create. If you try to force someone to pay you interest, good luck with that. If you choose to welsh on your healthcare bills, good luck getting treatment next time you're sick. you talk like a victim of the world instead of an agent of your own destiny
The point is that an agent of his own destiny (an island such as Cohodk) remains under the spell of decisions made by others such as interests rates, taxes and medical costs. No man is an island, even when he thinks he is. We are all, unfortunately, in many cases at the mercy of others.
Gold going to $5k when the dollar gets crushed due to debt
That's what I thought for years and yet it seems that more and more debt creation can be used to pay off expiring debt ad infinitum even though it destroys capital formation. That's how it has been made to seem. And yet, we know that math doesn't lie. We know that something eventually has to give. It's either higher taxes or a devaluation of the currency, or both. Or a complete repudiation of the debt.
At what point do people start thinking that the mismanagement of government finances is irretrievable and lose confidence in the currency? My thought is that everyone goes along until it affects them personally. If we do reach a tipping point where too many people simply can't manage their affairs because there is no way to manage their own debt, the paradigm changes from one of order to one of disorder.
Read "When money dies." Hyperinflation doesn't occur from nowhere out of the blue sky. It takes quite a bit of mismanagement and repeated miscalculations and repeated mistakes. It also takes a good measure of outside pressure by international creditors and adversaries. It's also no picnic when things do happen.
Going to $5k/oz. would be very mild compared to what happened in Weimar. And yet, our debt burden is very significant, even compared to what Weimar had to deal with. Their are still some differences. Although our industrial base has been hollowed-out, the economy has changed such that those industries aren't the drivers of the economy that they used to be. As long as the basic necessities are plentiful in the USA, all the other wants & needs are negotiable and still manageable within the framework of a debt economy. Or so it seems.
Precious metals are still good backup for a failed fiat regime, and you just never know. It may not be certain, but it's certainly still possible that we could have a loss of confidence and a monetary collapse. The black swans haven't gone away.
Q: Are You Printing Money? Bernanke: Not Literally
I disagree that infinite debt creation will pay for infinite debt.
The failure of debt creation to pay for debt will happen when
1) there are no account balances willing or able to buy the incremental new debt,
and it will be worsened if
2) the rate of debt creation exceeds the rate of wealth creation
Right now what is keeping rates low and a massive debt sell off from happening is the sluggish economy. Even once the economy picks up & even once inflation picks up there will still be those buying these "low risk" assets at some price point, and I see that as still well under 5% for a long, long time. There are plenty of account balances out there looking for something over cash rates, so much so that even if you want to call it the greater fool theory, there will be a large chance for a hold-to-maturity or later re-sale to work out.
And what does help are those world bankruptcies. They make the USA look safer and, while reducing the wealth of the bag holders, there is the upside in the reduction of the amount of global debt that has to be rolled forward. As it is now, those bag holders are quite easily replaced by those looking for debt to hold.
carew4me
Posts: 3,464 ✭✭✭✭
Comments
Europeans buy gold amid immigrant flood
Last sentence in the article: "Gold traded little changed on Friday at $1,233.87 an ounce." Really? But we have all heard similar stories before...China, Russia, buying up tons of Gold. The price of gold or any precious metal, is dictated by the "paper traders" and so far they are only nibbling and not having much of an impact on the price.
Loves me some shiny!
I knew it would happen.
along like gentle waves on a big lake. Cheers, RickO
The gold market is seldom boring.... always diverse inputs, gloom and doom, sky high predictions - and meanwhile, gold just moves along... sometimes up a bit, sometimes down... trend lines go
along like gentle waves on a big lake. Cheers, RickO
Not so sure about your "gentle waves" diagnosis. More like the Space Shuttle lifting off or taking a ride down Niagara Falls.
Give Me Liberty or Give Me Debt
And 6 months later price is "little changed".
Knowledge is the enemy of fear
Also unchanged is the protection it provides from politicians. Does your gold not protect you? If not, send it to me. I'll keep it safe until I need it to keep me safe.
Give Me Liberty or Give Me Debt
I keep me safe.
Knowledge is the enemy of fear
Forgot, you are the island. Guess the rest of us will just have to live with the decisions that are made for us under the guise of "the law."
Give Me Liberty or Give Me Debt
We all make our own choices and have only ourselves to blame. You could create your own island, or not. You could choose to share an island, or not. You could decide to do anything, or nothing. Those are your choices, and the consequences are your responsibility.
Knowledge is the enemy of fear
Shoot, if it's that simple then I choose not to pay taxes for the things I consider to be wasteful government spending. I also choose to set my own interest rate that my savings earns. While I'm at it I choose to pay only half the cost of over priced health care. Oops, forgot that there are consequences. Looks like I don't really get to make my own choices after all.
Give Me Liberty or Give Me Debt
Every decision you make has consequences. You have all the freedom to make any choice you wish.
Knowledge is the enemy of fear
You've declared on this forum that gold is your protector, your savior. That's your choice.
I've chosen differently.
Knowledge is the enemy of fear
There is a new wave of interest in platinum jewelry in India, as the platinum price is currently $300 below that of gold. This negative relationship between gold and platinum has only occurred four times in forty years.
Gold is my protection for just a few of the things that I as an island have no control over. I have all kinds of protection for the things I cannot control; it's called risk management. Try it.
Give Me Liberty or Give Me Debt
That doesn't mean that it's not going to continue for the next 40 years.
PaleElf: Perhaps this is the new normal for platinum:gold ratio. However raw fundamentals of platinum and palladium dictate a higher price. Here is an interesting site about the PGM metals with links to relevant articles:
http://info.sharpspixley.com/news/pgm-news/
Some people happen to the world, other people, the world happens to them.
Liberty: Parent of Science & Industry
Your decisions are made in context. If you "choose" not to pay your taxes, but still try to take all the things taxes are for, then you will experience the context that you create. If you try to force someone to pay you interest, good luck with that. If you choose to welsh on your healthcare bills, good luck getting treatment next time you're sick. you talk like a victim of the world instead of an agent of your own destiny
Liberty: Parent of Science & Industry
A 40% drop in gold might fix that. What you think?
Knowledge is the enemy of fear
cohodk,
Likely the spread will narrow if it follows history. With global markets in flux, perhaps platinum will rise faster than gold might. Or, as you say, gold may retreat. Either way, I sense a rise in the platinum price.
Hillary is bringing another 115,000 refugees into the US in 2017
Better vote mr T to stop the madness.
Gold going to $5k when the dollar gets crushed due to debt
100% Positive BST transactions
The point is that an agent of his own destiny (an island such as Cohodk) remains under the spell of decisions made by others such as interests rates, taxes and medical costs. No man is an island, even when he thinks he is. We are all, unfortunately, in many cases at the mercy of others.
Give Me Liberty or Give Me Debt
I am under no man's mercy. Create and adapt your own surroundings.
Knowledge is the enemy of fear
I buy and sell precious metals , despite other's opinions. Because opinions are kinda like tweets and facebook posts.
Gold going to $5k when the dollar gets crushed due to debt
That's what I thought for years and yet it seems that more and more debt creation can be used to pay off expiring debt ad infinitum even though it destroys capital formation. That's how it has been made to seem. And yet, we know that math doesn't lie. We know that something eventually has to give. It's either higher taxes or a devaluation of the currency, or both. Or a complete repudiation of the debt.
At what point do people start thinking that the mismanagement of government finances is irretrievable and lose confidence in the currency? My thought is that everyone goes along until it affects them personally. If we do reach a tipping point where too many people simply can't manage their affairs because there is no way to manage their own debt, the paradigm changes from one of order to one of disorder.
Read "When money dies." Hyperinflation doesn't occur from nowhere out of the blue sky. It takes quite a bit of mismanagement and repeated miscalculations and repeated mistakes. It also takes a good measure of outside pressure by international creditors and adversaries. It's also no picnic when things do happen.
Going to $5k/oz. would be very mild compared to what happened in Weimar. And yet, our debt burden is very significant, even compared to what Weimar had to deal with. Their are still some differences. Although our industrial base has been hollowed-out, the economy has changed such that those industries aren't the drivers of the economy that they used to be. As long as the basic necessities are plentiful in the USA, all the other wants & needs are negotiable and still manageable within the framework of a debt economy. Or so it seems.
Precious metals are still good backup for a failed fiat regime, and you just never know. It may not be certain, but it's certainly still possible that we could have a loss of confidence and a monetary collapse. The black swans haven't gone away.
I knew it would happen.
I disagree that infinite debt creation will pay for infinite debt.
The failure of debt creation to pay for debt will happen when
1) there are no account balances willing or able to buy the incremental new debt,
and it will be worsened if
2) the rate of debt creation exceeds the rate of wealth creation
Right now what is keeping rates low and a massive debt sell off from happening is the sluggish economy. Even once the economy picks up & even once inflation picks up there will still be those buying these "low risk" assets at some price point, and I see that as still well under 5% for a long, long time. There are plenty of account balances out there looking for something over cash rates, so much so that even if you want to call it the greater fool theory, there will be a large chance for a hold-to-maturity or later re-sale to work out.
And what does help are those world bankruptcies. They make the USA look safer and, while reducing the wealth of the bag holders, there is the upside in the reduction of the amount of global debt that has to be rolled forward. As it is now, those bag holders are quite easily replaced by those looking for debt to hold.