Jim Rickards: Gold is leaving the U.S. in record amounts
derryb
Posts: 38,528 ✭✭✭✭✭
When gold and silver move together, it signals the coming end of fiat money.
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derryb
Posts: 38,528 ✭✭✭✭✭
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he needs to explain the collapse part
Silver export spike as well
Loves me some shiny!
“Often wrong, but never in doubt.”
ask him
When gold and silver move together, it signals the coming end of fiat money.
Nothing about the US economy is pegged to gold.
Trade deficits have too many crosscurrents to make a case for monthly fluctuations let alone a collapse.
Nonsense.
Not a very useful chart as it merely shows dollar volume of gold, not the number of ounces. The chart would show an increase even if total ounces decreased if the price went up more. Its a bit of a misleading graphic presented to raise fear of "collapse", where as previous spikes have not resulted in any collapse.
Knowledge is the enemy of fear
More likely reflects eroding confidence in US Dollar
Loves me some shiny!
“Often wrong, but never in doubt.”
bingo
When gold and silver move together, it signals the coming end of fiat money.
collapse?
let's say that price-demand dries up and returns to "normal"
as mentioned this is a dollar value chart. both the price and the demand can "collapse"
it's likely to collapse back to "normal" that already included price run ups. so it doesn't go up $50 a week and goes to $50 a month? is that a collapse? wait until demand goes to zero and nobody wants to buy it to call it a collapse
Gold going up, silver going up, value of the dollar going down.
The economy is in trouble.
Llamas and alpacas are camels. They aren't like camels, or related. They are camels. When was anyone going to tell me this?! How long had Bill Nye been holding out on us?
And greater confidence in other currencies?
Knowledge is the enemy of fear
And greater confidence in other currencies?
Nobody said that.
I knew it would happen.
Wasn't too long ago that the bunker crew were all rooting for a brics currency to take over all of mankind. I'd put that rickards right in their camp. Looney tunes. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Its just a question dude.
Knowledge is the enemy of fear
Its just a question dude.
Your question implies that folks should have confidence in eroding paper currencies, when they really ought not to.
Why would you even ask that question, dude?
I knew it would happen.
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That is TOTALLY FALSE.
NOBODY here was "rooting" for BRICS.
We were warning about it, though.
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You have quite the imagination. And its King Redneck to you.
It was just a question dude.
Knowledge is the enemy of fear
Certainly not "TOTALLY". Some chanted it like a cheerleader might.
Knowledge is the enemy of fear
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Who ?
Quote the post, or it didn't happen.
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Paper currencies have been eroding for decades or centuries. It's the price for being a dominant and/or reserve financial currency: you have to run a trade deficit and capital account surplus, and that means you print more money than domestic demand. Your currency falls over time.
The Dollar has been "eroding" since 1913. You did pretty well living in this country and using dollars. You also did great if you invested in stocks and bonds in this country as opposed to PMs.
Paper currencies have been eroding for decades or centuries. It's the price for being a dominant and/or reserve financial currency: you have to run a trade deficit and capital account surplus, and that means you print more money than domestic demand. Your currency falls over time.
The Dollar has been "eroding" since 1913. You did pretty well living in this country and using dollars. You also did great if you invested in stocks and bonds in this country as opposed to PMs.
I"ve done an order of magnitude better investing in precious metals than I ever did in stocks & bonds. An order of magnitude!
There's no reason on earth why a "select" group of bankers should have the privilege of "money creation" out of thin air using debt as a vehicle to enslave everyone else. No reason whatsoever. It's an awful scam and it always has been.
I knew it would happen.
Who? You quote the post or it did happen.
Yup.. This is what happens when your crowd presents trying to prove a negative as being a fact. You just run around in circles. What was accomplished? Just more of your stupid bickering.
Back to the OP. The chart above is misleading and "implies" (jmski like that word), that something is collapsing. What is collapsing? This is just another feeble attempt to instill fear among the weak. Be strong.
Knowledge is the enemy of fear
Be strong and BOOM™ my brothers and sisters. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
That's not the norm, and also might go to your lack of knowledge in properly investing in stocks/bonds. Or it might mean you know PMs very well. Or you might be lucky, I don't know. Whatever works for you, obviously, you should do. I wouldn't try and force a person like you to do what isn't in their comfort level, just be aware of the risks.
But for 99.9% of the population and institutions, true financial assets are best, not commodities.
There is no privilege of money creation. Check the bank's quarterly results. You continue to show you don't understand how the Fed works and how modern banking works.
There is no privilege of money creation.
That's exactly what fractional reserve banking is. Besides money for nothing, they can change their "reserve requirements" whenever they get their tit in a wringer. Nobody else gets privilege like that.
I knew it would happen.
It also comes with regulation, mandates, oversight, and a host of rules no other businesses have to contend with. It's why we have too many banks at over 4,000.
Yes, the Fed is a lender of last resort. Otherwise, you get severe Panics/Depressions.
Again, if banking were as lucrative as you imply, they'd have done much better tha last 5, 10, 20, 50, and 100 years. Instead, they are big laggards with lots of casualties having their equity wiped out.
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You are the one claiming that posters here were "cheerleading" BRICS.
All you have to do to prove your point is show one post where this supposed "cheerleading" was going on.
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You can search the forums just as easy as I....maybe easier since you are so much smarter than me. You prive there was no cheerleaders. Im just playing your game brother.
Knowledge is the enemy of fear
When gold and silver move together, it signals the coming end of fiat money.
show a graph with a peak then say collapse and i automatically think that peak will be wiped out
need a grapf of us supply to help the supply collapse idea
Dan, I like gold and silver so I'm on your side most of the time, but there is plenty of "cheerleading" going on in this thread, and it's not the only one.
https://forums.collectors.com/discussion/1106267/is-this-supportive-of-brics/p1
Philippians 4:4-7
Likely you are referring to me. If so you first should learn to distinguish the difference between "warning" and "cheerleading."
BRICS is a threat. The facts presented in that thread show this to be true. Unfortunately some here let their patriotism blind them to understanding on what's going on in the rest of the economic world.
Way before you joined us in 2022 there were those here that tried to paint me as a commie because I presented facts that showed China to be a threat to our economy. Suddenly China is a threat to our economy. The day will come when you (and others) wake up to the fact that BRICS is a threat to our economy and that the warnings were in fact warnings, not cheerleading.
When gold and silver move together, it signals the coming end of fiat money.
Who said I was talking about you, but if the shoe fits wear it. I was a lurker for over a decade before I actually joined, so I am well aware of all your positions. Additionally, I don't let patriotism blind me to anything let alone geopolitical risks. However, I also don't side with Russia or root for the demise of the dollar.
Philippians 4:4-7
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Nobody stated that they like BRICS or wished them well.
That thread contains warnings. Warnings that the USA might not always be the preeminent financial power in the world.
Especially if the fiscal condition and debt levels don't improve.
However, whichever country or bloc develops the best robots and AI will be the "winner".
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You made an allegation that members of this forum were "cheer-leading" BRICS, presumably against the interests of the United States. That is a serious indictment that you are apparently unable to prove.
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I also don't side with Russia or root for the demise of the dollar.
Neither do I, but I'm absolutely disgusted with Congress's out-of-control spending and the whole concept of a Federal Reserve central banking system that siphons the productive lifeblood out of our economy with their debt-based "keep them down on the farm" mentality that destroys any notion of a free market economy. We have a centrally-planned economy that is being run by a very few, and how different is that from the old USSR?
Call it what it is.
There is one proven way to protect yourself from all of this nefarious BS, and that's to hold physical gold & silver. If you don't see these types of statements as warnings rather than "rooting for the demise of the dollar", then you really don't have much grasp upon the current reality. We really aren't too far from actual hyperinflation, and THAT's going to be a REAL problem.
It's all being caused by paper derivatives, fractional reserve banking and re-hypothecation games by the banks.
I knew it would happen.
If its good enough for the administration its good enough for you.
This forum is filled with "serious indictments" that are "unable to prove". Thats what most of the PM ilk feed on.
This should be called the Perception is Fact Forum.
Now what's the collapse?
RA RA RA!!
Knowledge is the enemy of fear
I wonder why the price appreciation of gold began to accelerate in 2018 and mid 2024? Your right Jmski, but not for the reasons you cite.
We are weak.
Knowledge is the enemy of fear
Let's start with 80% of the world's US dollars were created in the past five years.
When gold and silver move together, it signals the coming end of fiat money.
Forget that...the larger point is that the BRICs are UNINVESTABLE as a global reserve currency, OK ?
NONE of them have these requirements to be a long-term threat to the dollar:
These are all potentially high-growth countries IF they democratized and did the right things economically and financially and politically. Unfortunately, vested interests in each country want to maintain corrupt, authoratarian control over the economy and loot it for personal or party reasons.
Just look at Venezuela and PDVSA.
So ? Global demand for the dollar demanded it, plus QE. As the Fed reverses QE, it will drain out.
What's your point ? There is no hyperinflation in this country despite your belief that it is coming.
Institutions -- CBs, SWFs, Ultra-HNW individuals -- all went from SELLERS to BUYERS. We saw the same thing about 1999-2002.
More people can afford gold, despite the higher price.
BRICS is a nonstarter as a widely accepted reserve currency because nobody trusts the leadership and institutions. Handwringing about it is a waste of time.
I don't believe being "investable" is why they decided to join together to set their own destiny on the world economic stage.
They have gold, lots of it in the neighborhood 6,000 tons. They control 50% of global gold production. Not to mention their reserves of oil and rare earth elements. BRICS does not need to be "investible" to be a threat to dollar domination. They are already bypassing international use of the dollar and reducing their purchasing of US debt. These are the two most important things in that make the US $ the "world reserve currency." They are showing innovation in trade payments among themselves.
There are two reasons we are seeing a BRICS and why they seek to lose dependency on the dollar:
1. The US has shown little restraint in protecting the value of the debt other nations buy when investing in US debt.
2. The US in the past decade has weaponized the dollar. Why hold them when the US can use them against you for political reasons.
They are proving these things are irrelevant when it comes to being an international trade powerbroker.
China, Russia and Brazil are in the top ten when it comes to GDP ranking with China being second only to the US.
Democracy has nothing to do with economic growth.
And to those who want to cry "cheerleading," this is simply a warning that the US needs to pull it's head out of the sand and reverse the two reasons stated above.
When gold and silver move together, it signals the coming end of fiat money.
I agree the U.S. has problems....but these countries have much worse ones they are not addressing (Argentina is trying to).
Look at China....their labor supply is going to shrink by 30% by 2055.
You describing BRICS or the USA?
You thinks its coinkydink that the dollar dropped 13% in 2017 and in 2025?
Dereyb is right, the world has lost confidence with the regime.
Knowledge is the enemy of fear
The dollar typically goes through 7-year cycles. We had an extended UP cycle last time because of technology investing and Covid.
We are down 12% from the recent peaks but long-term....we're right where we've been on-and-off for 35 years.
https://finance.yahoo.com/quote/DX-Y.NYB/
When gold and silver move together, it signals the coming end of fiat money.
Yup....just a coinkydink. LoL
Knowledge is the enemy of fear
The chart is right....the dollar has been in a 35-year trading range. Things are fine. I worked with currency traders first job out of college.
https://finance.yahoo.com/quote/DX-Y.NYB/
When BRICS money market and bond markets trade $100 billion a day, give me a call.