Will gold hit $1,500 this year?

[C12]

40 minutes ago, sixgun said:

The Kinesis blockchain currency system is about to unleash a dramatic and persistent physical demand. Those behind it are highly motivated to break the paper markets and free price from central bank control. Gold and silver are real money, real stores of value and attach a yield to these that beats government bond yields and you will unleash demand that cannot be satisfied in gold price terms this side of $2000 and probably much much higher. All the paper in the world will not be able to control the physical price when physical is the only game in town. So what any of the financial parameters are doing does not matter when a collective of fund managers and another and another need 100 of tonnes of gold to play in this game. The collective demand for physical to play Kinesis will ride straight over the top of the paper market and the banks will be powerless to stop it without they call on their guns and brute force. Then China shows her hand and the jig really would be up.

We'll have to see. So far, all attempts to create a gold backed crypto have ended in epic failure and we've not even seen the whitepaper yet. 

[sixgun]

The previous precious metal cryptos have not been world changing successes but they have lacked the necessary elements to be such. BullionCoin was an epic fail considering it could have been an epic success. That the ABX walked away from the partnership killed BullionCoin.

Asset backed cryptos have great potential and will emerge to take prominence in my opinion.  Kinesis, which i am allegedly advertising, differs from the previous generation b/c it is a truly grown up version. It has a tried and test physical trading and vaulting platform in the ABX, there is the German stock exchange and clearing system as a grown up coin trading platform in place and it has on board the Muslim world including likes of the Indonesian post office as well as central bank approval. i don't know which central bank but this has been stated for some time.  The first $100 million of the ICO was sold to a single fund at the St Moritz crypto conference so a second $100 million will have to be made available. There are $billions lining up and a crafty means to get the physical and circumvent LMBA blocking tactics. As you say we will see and the Whitepaper is yet to be released to the public.

[FlorinCollector]

1 hour ago, PansPurse said:

This advert brought to you by...

I was enjoying reading it till the Ad was put in, in the last paragraph 

[FlorinCollector]

15 minutes ago, sixgun said:

The previous precious metal cryptos have not been world changing successes but they have lacked the necessary elements to be such. BullionCoin was an epic fail considering it could have been an epic success. That the ABX walked away from the partnership killed BullionCoin.

Asset backed cryptos have great potential and will emerge to take prominence in my opinion.  Kinesis, which i am allegedly advertising, differs from the previous generation b/c it is a truly grown up version. It has a tried and test physical trading and vaulting platform in the ABX, there is the German stock exchange and clearing system as a grown up coin trading platform in place and it has on board the Muslim world including likes of the Indonesian post office as well as central bank approval. i don't know which central bank but this has been stated for some time.  The first $100 million of the ICO was sold to a single fund at the St Moritz crypto conference so a second $100 million will have to be made available. There are $billions lining up and a crafty means to get the physical and circumvent LMBA blocking tactics. As you say we will see and the Whitepaper is yet to be released to the public.

At first when I seen asset backed cryptos I thought it was genius. However, this defeats the full purpose. With asset backing it cant be decentralised. Again you need to prove who is holding the asset. If ive learned one thing from this forum it would be if you dont hold it you dont ...

[C12]

11 minutes ago, JCRJM said:

At first when I seen asset backed cryptos I thought it was genius. However, this defeats the full purpose. With asset backing it cant be decentralised. Again you need to prove who is holding the asset. If ive learned one thing from this forum it would be if you dont hold it you dont ...

A gold backed crypto would need to be regulated to prevent it ending in the same fate as e-gold back in 2008.

I think ultimately a gold backed digital currency will be issued and controlled by the central banks, but this is many years away in my view. 

[sixgun]

23 minutes ago, JCRJM said:

At first when I seen asset backed cryptos I thought it was genius. However, this defeats the full purpose. With asset backing it cant be decentralised. Again you need to prove who is holding the asset. If ive learned one thing from this forum it would be if you dont hold it you dont ...

it depends what your purpose is. Clif High mentioned a crypto which was a token representing sand. So you could buy the token which was title of ownership over so much sand wherever it was in Russia. The title of ownership is in the blockchain. The blockchain is a ledger and records all the details and ownership. If you want to trade the sand you sell your tokens. i see tokens which are title of ownership playing a bigger and bigger role. ICO's can be launched for much less than many other offerings.

$billions are in gold bullion is held in vaults. If i were a pension fund a sensible investment would be to have some of the funds in precious metals. i would not have the gold in the basement of the fund's offices, it would be in a vault somewhere under the custody of HSBC or another criminal organisation masquerading as respectability. A lot of this gold doesn't exist and never did. It is the ploy the goldsmiths used in the past, issuing more gold certificates than there was gold on the basis that not everyone redeems their gold at once. This is a point i have made many times before on this forum. When the fact this gold does not exist, that the banks are playing a massive fractional reserve game when that comes unravelled the price of gold will be uncontrollable to the upside. We need a catalyst for that and i think Kinesis is the straw that breaks the back of this monster.

For Mr Paranoia like many on the forum, including me, they like to have the metal in their own possession or at least within easy reach. They would not trust it to a 'bank' and they would not want to pay vaulting fees. For big funds they have to have the metal in a vault. There is no other way round it. So it sits in a vault costing them money. The costs are the insurance costs for insuring the portfolio against the end of the world when gold prices soar and risk assets plunge. Kinesis is a solution for these players. Easy to trade, easy to redeem if you ever wanted to, 100% backed, all inside the system yet outside the system. Most important it has a yield.

[sixgun]

6 minutes ago, C12 said:

A gold backed crypto would need to be regulated to prevent it ending in the same fate as e-gold back in 2008.

I think ultimately a gold backed digital currency will be issued and controlled by the central banks, but this is many years away in my view. 

Kinesis is all of this, including having the backing of a central bank. i will be investing but my main reason to mention it here is to say we are on the verge of a product that has a definite potential of breaking the paper market control over gold and silver - this is important to all of the stackers and collectors here.

[FlorinCollector]

2 minutes ago, sixgun said:

it depends what your purpose is. Clif High mentioned a crypto which was a token representing sand. So you could buy the token which was title of ownership over so much sand wherever it was in Russia. The title of ownership is in the blockchain. The blockchain is a ledger and records all the details and ownership. If you want to trade the sand you sell your tokens. i see tokens which are title of ownership playing a bigger and bigger role. ICO's can be launched for much less than many other offerings.

$billions are in gold bullion is held in vaults. If i were a pension fund a sensible investment would be to have some of the funds in precious metals. i would not have the gold in the basement of the fund's offices, it would be in a vault somewhere under the custody of HSBC or another criminal organisation masquerading as respectability. A lot of this gold doesn't exist and never did. It is the ploy the goldsmiths used in the past, issuing more gold certificates than there was gold on the basis that not everyone redeems their gold at once. This is a point i have made many times before on this forum. When the fact this gold does not exist, that the banks are playing a massive fractional reserve game when that comes unravelled the price of gold will be uncontrollable to the upside. We need a catalyst for that and i think Kinesis is the straw that breaks the back of this monster.

For Mr Paranoia like many on the forum, including me, they like to have the metal in their own possession or at least within easy reach. They would not trust it to a 'bank' and they would not want to pay vaulting fees. For big funds they have to have the metal in a vault. There is no other way round it. So it sits in a vault costing them money. The costs are the insurance costs for insuring the portfolio against the end of the world when gold prices soar and risk assets plunge. Kinesis is a solution for these players. Easy to trade, easy to redeem if you ever wanted to, 100% backed, all inside the system yet outside the system.

Yeh everything you say I find is the ideal world. 

I have seen before people paying storage fees for many years to find out they were paying storage fees on gold that was never really in a vault. 

Also going with the sand analogy. Watching a documentary there is some who believe that for example - America. They have loaned out there gold to the bullion banks. This is then turned into jewellery and sold but in the books of the U.S government they have just loaned there money. 

This could be done here in this example also with this crypto. I might be off track in reply but just feel they could easily loan out the gold they buy and tell you they still own it and prove it on the blockchain but really it could be loaned out.

 

[sixgun]

1 minute ago, JCRJM said:

Yeh everything you say I find is the ideal world. 

I have seen before people paying storage fees for many years to find out they were paying storage fees on gold that was never really in a vault. 

Also going with the sand analogy. Watching a documentary there is some who believe that for example - America. They have loaned out there gold to the bullion banks. This is then turned into jewellery and sold but in the books of the U.S government they have just loaned there money. 

This could be done here in this example also with this crypto. I might be off track in reply but just feel they could easily loan out the gold they buy and tell you they still own it and prove it on the blockchain but really it could be loaned out.

 

Absolutely - i recall one of the big banks, forget the name, they are all as bad as each other, it was charging vaulting fees and insurance for gold that never existed. They had to pay the money back. There was no issue that the gold never existing b/c it was unallocated gold and if you read the contract there was never a promise there would be any gold. It was quite funny when Steve 'Munchkin' went to Fort Knox to inspect the gold and 'joked' about none of it being there. All the US gold has gone, long gone. If there is anything in the vaults it no longer belongs to the American people. So yes the ABX could be a bankster organisation. They could have been vaulting gold and silver for years and it is just a sneaky shadow organisation dormant for this scam. The wool could have been pulled over Andrew Maguire's eyes poor guy. There he was fighting the good fight against corruption and price rigging when all the time he was being used as a decoy. There are lots of maybe's. For you it is clearly right to keep your friends close but your gold closer. 

[C12]

6 minutes ago, JCRJM said:

This could be done here in this example also with this crypto. I might be off track in reply but just feel they could easily loan out the gold they buy and tell you they still own it and prove it on the blockchain but really it could be loaned out.

 

I like the Royal Mint (RMG) gold crypto proposition as it's probably the safest proposition I've found. I would imagine RMG has the potential to drain cash from Goldmoney and Bullionvault due to the lower cost of physcial ownership.

The only concern I would have is any potential gold confiscation. I think it's an unlikely scenario but you can't rule it out since the UK is desperately low on reserves. 

[FlorinCollector]

2 minutes ago, sixgun said:

Absolutely - i recall one of the big banks, forget the name, they are all as bad as each other, it was charging vaulting fees and insurance for gold that never existed. They had to pay the money back. There was no issue that the gold never existing b/c it was unallocated gold and if you read the contract there was never a promise there would be any gold. It was quite funny when Steve 'Munchkin' went to Fort Knox to inspect the gold and 'joked' about none of it being there. All the US gold has gone, long gone. If there is anything in the vaults it no longer belongs to the American people. So yes the ABX could be a bankster organisation. They could have been vaulting gold and silver for years and it is just a sneaky shadow organisation dormant for this scam. The wool could have been pulled over Andrew Maguire's eyes poor guy. There he was fighting the good fight against corruption and price rigging when all the time he was being used as a decoy. There are lots of maybe's. For you it is clearly right to keep your friends close but your gold closer. 

Yeh you are right there everything is sadly maybes :/ maybe one day we’ll know it all

[FlorinCollector]

Just now, C12 said:

I like the Royal Mint (RMG) gold crypto proposition as it's probably the safest proposition I've found. I would imagine RMG has the potential to drain cash from Goldmoney and Bullionvault due to the lower cost of physcial ownership.

The only concern I would have is any potential gold confiscation. I think it's an unlikely scenario but you can't rule it out since the UK is desperately low on reserves. 

I think the RMG looks good however if you ever want physical drlivery you then need to pay more. Wouldnt that just end up higher premiums in the end. I guess we wont know till it comes out but it does look interesting

[sixgun]

9 minutes ago, C12 said:

I like the Royal Mint (RMG) gold crypto proposition as it's probably the safest proposition I've found.

Royal Mint = Government = Criminal Organisation only not defined as criminal b/c it makes all the laws and lies all the time.

9 minutes ago, C12 said:

The only concern I would have is any potential gold confiscation. I think it's an unlikely scenario but you can't rule it out since the UK is desperately low on reserves. 

Give it to the Royal Mint and it has been confiscated by default.

Kinesis says it is paying a yield - this is the reason i am aboard with Kinesis. Do i prefer to hold my gold myself in a safe place. You bet i do but i want to make a yield and this is why i was interested in OneGram but this was way too expensive, this was why i was interested in BullionCoin and i bought metal on the ABX in preparation. Then the ABX -BullionCoin partnership fell apart. i kept my metal in the ABX - i paid the vaulting fees and then they launch Kinesis which is everything BullionCoin promised to be and a lot more.

[C12]

23 minutes ago, sixgun said:

Royal Mint = Government = Criminal Organisation only not defined as criminal b/c it makes all the laws and lies all the time.

Give it to the Royal Mint and it has been confiscated by default.

Kinesis says it is paying a yield - this is the reason i am aboard with Kinesis. Do i prefer to hold my gold myself in a safe place. You bet i do but i want to make a yield and this is why i was interested in OneGram but this was way too expensive, this was why i was interested in BullionCoin and i bought metal on the ABX in preparation. Then the ABX -BullionCoin partnership fell apart. i kept my metal in the ABX - i paid the vaulting fees and then they launch Kinesis which is everything BullionCoin promised to be and a lot more.

The Royal Mint is government owned but ran like a private entity to make profits for the treasury. The UK has been trying to offload it for years. 

I'm pretty certain the government has absolutely zero clue about the monetary value of gold, just like the general public. 

The coming digital gold backed currency will surely be global (via the IMF) but this will be many years in the future. I don't think they'll need to confiscate it but who knows. I prefer holding my own metal.

Onegram seemed like a great idea but that appears to have evaporated. I'm interested to see the Kinesis offering but need to see the fine print. The main priority is gaining public trust for it to work. 

[sixgun]

Quote

“In front of 3 witnesses, Bank of England Governor Eddie George spoke to Nicholas J. Morrell (CEO of Lonmin Plc) after the Washington Agreement gold price explosion in Sept/Oct 1999.  Mr. George said, ‘We looked into the abyss if the gold price rose further.  A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.  It was very difficult to get the gold price under control but we have now succeeded.  The US Fed was very active in getting the gold price down.  So was the U.K.’”

When during this period that one eyed criminal Brown dumped the bulk of the people's gold at the bottom of the market allegedly to fund 'social services' when it was actually to bail out Goldman Sachs, the government knew very well the value of gold.

They have been operating to keep the price of gold under control for years but it is like Canute and the tide they will not win.

[kimchi]

20 minutes ago, sixgun said:

Give it to the Royal Mint and it has been confiscated by default.

I think you're being generous there, I don't think the gold exists to confiscate in the first place! Still, if it takes 'money' out of supply it could be a good thing to avoid hyper-inflation. The main thing I am worried about is a complete collapse of the system. Yes what we have now is rotten and filthy and dishonest to the core, and there is huge promise of a complete change appearing over the horizon, but I hope it's a smooth transition and not a complete collapse.

If the total collapse comes it will serve the elites' best interests and have been long planned for imo. What do the real elite have to lose from a financial collapse? They own all they need already (including all the land and means of production, food etc to see them through). The rest of us (or rather those of us who aren't prepped) would be fighting each other in the supermarkets for the last tin of soup (as tested and proven last year in the 'great lettuce shortage' here in the UK - I haven't seen the like apart from Black Friday vids).

15 minutes ago, C12 said:

The Royal Mint is government owned but ran like a private entity to make profits for the treasury. The UK has been trying to offload it for years. 

I'm pretty certain the government has absolutely zero clue about the monetary value of gold, just like the general public.

The Mint is only private to keep the peoples' assets removed from the people.

The government would very much like us to think they don't know the value of gold etc imho. Call my cynical but that's the whole point. As the Mint continuing to sell gold at far below its proper worth - it's a confidence trick, and one that seems to work well enough for now.

[Roy]

Let's not shoot the messenger. 

We wouldn't have known about this if sixgun hadn't mentioned it. 

I'd keep an open mind about this and perhaps it could be a success.

 

[kimchi]

1 minute ago, sixgun said:

When during this period that one eyed criminal Brown dumped the bulk of the people's gold at the bottom of the market allegedly to fund 'social services' when it was actually to bail out Goldman Sachs, the government knew very well the value of gold.

They have been operating to keep the price of gold under control for years but it is like Canute and the tide they will not win.

Spot on about Brown and the BiB is very apt from my pov at the moment.

Canute 'challenged' the tide to prove to his people that he was not a god (or so the story goes).

When the general population wake up to the fiat fix (among other things) they will feel like the curtain has suddenly gone up and the 'wizard' of Oz reveal is a huge twist.

In reality the signs have been there for years, they have as good as told us directly. It's like the 'wizard' kept 'showing enough leg' from the start of the film that the outcome was inevitable and no surprise at all.

Our situation is pretty much the same thing as Canute's subjects putting their hands over their ears and saying 'lalala' until the tide finally did come in.

[NicksLottery]

On 27/01/2018 at 12:09, sixgun said:

The previous precious metal cryptos have not been world changing successes but they have lacked the necessary elements to be such. BullionCoin was an epic fail considering it could have been an epic success. That the ABX walked away from the partnership killed BullionCoin.

Asset backed cryptos have great potential and will emerge to take prominence in my opinion.  Kinesis, which i am allegedly advertising, differs from the previous generation b/c it is a truly grown up version. It has a tried and test physical trading and vaulting platform in the ABX, there is the German stock exchange and clearing system as a grown up coin trading platform in place and it has on board the Muslim world including likes of the Indonesian post office as well as central bank approval. i don't know which central bank but this has been stated for some time.  The first $100 million of the ICO was sold to a single fund at the St Moritz crypto conference so a second $100 million will have to be made available. There are $billions lining up and a crafty means to get the physical and circumvent LMBA blocking tactics. As you say we will see and the Whitepaper is yet to be released to the public.

Bullioncoin is about to be released, February I'm informed, a great deal of time, effort and finance has gone into Bullioncoin,.  Should prove very interesting

 

[mr-dead]

For me gold is about the removal of 3rd party risk.

Mixing crypto with gold just adds another layer that is open to fraud or theft.

 

p.s. a 1 post newbie promoting bullioncoin comes across as spam

[sixgun]

1 hour ago, NicksLottery said:

Bullioncoin is about to be released, February I'm informed, a great deal of time, effort and finance has gone into Bullioncoin,.  Should prove very interesting

 

BullionCoin and the ABX attempted a link up last year. The Whitepaper was released and then the ABX walked away in September. i was interested in this coin, there were to be 1g gold and 50g silver coins but then out of the blue they presented it as a big investor coin with a minimum investment of $250 000 and not something for the average guy.

Kinesis will be selling $1000 coins in the ICO. i do not know quite how that works, not a logical unit when dealing with metals. i have not followed BullionCoin since September so i do not feel i am in a position to comment. BullionCoin was about to launch and i expect ABX walking away put everything back for them but the ABX were unhappy about the vaulting arrangements (which did not favour them as much) and there was apparently doubts about ownership of the metal that it would not be allocated, it would be an asset of BullionCoin - a massive red flag. How it stands now i have no idea.

Having studied BullionCoin as it was and Kinesis as it is, Kinesis is streets ahead. The main thing is there is big money lining up to invest which will create liquidity and high velocity in the coin - all good for minters.

[kimchi]

On 1/27/2018 at 13:11, sixgun said:

Royal Mint = Government = Criminal Organisation only not defined as criminal b/c it makes all the laws and lies all the time.

They have told us all along that is part of their (so they think) 'get out clause' under 'Natural Law'.

The Criminal Justice Act (2003) - it is there in plain words, as plain as the nose on anyone's face.

Criminal Justice. Their 'justice' is criminal.

So don't complain when they use it against you if you didn't opt out at the time (or don't do so now).

[sixgun]

4 hours ago, kimchi said:

They have told us all along that is part of their (so they think) 'get out clause' under 'Natural Law'.

The Criminal Justice Act (2003) - it is there in plain words, as plain as the nose on anyone's face.

Criminal Justice. Their 'justice' is criminal.

So don't complain when they use it against you if you didn't opt out at the time (or don't do so now).

It is virtually impossible to opt out. They have all the guns. The best you can do is repeat and repeat i do not consent. If they ask if you 'understand' you do not understand - this is to stand under, to consent. You will hear the police very often arrest someone and ask if they understand. Man consents to be arrested 'under' legislation. A summons is an invitation. If you want to opt out never give or respond to the NAME. If you do you accept you are the NAME, that you are acting under the NAME and then they have you, you are theirs, literally.

It is all about money, you are charged with an 'offence', you pay your penalty. Money.

[Alex]

Just like crypto...timber

I did not expect it to fall so soon .In January and February was supposed to be bullish not bearish.Not a good sign.

[FlorinCollector]

1 hour ago, Alex said:

Just like crypto...timber

I did not expect it to fall so soon .In January and February was supposed to be bullish not bearish.Not a good sign.

Everything is dipping, gold, silver, crypto and at this time I have 0 money to blow?