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angus

Gold Price prjection - what do you think?

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Considering they are trying to sell you bullion I would say they are obviously biased and if they truly believed that they would shut up shop and sit on their stock for the next 2 years.

While technically possible if gold ever did hit that price your bigger concern would be bands of roaming cannibals outside your door due to complete financial and social collapse.

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I would not want to live in a world where gold is worth that much...

I also think that the US$ would cease to exist before gold reached that level - it would either mean the end of civilication or a new world order...

 

Anyway, no one has a crystal ball, so anyone can shape their opinion on a way they want to to reinforce their point of view - or their goal, for that matter.

I take from projections like these that there are 'interesting' times ahead and I should not get hooked on fiat. That is all. I advise to not buy into any kind of hype.

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21 minutes ago, Au79 said:

For the US money supply to be back by gold, it would require a gold price of $65,000 per Troy ounce. Read carefully. Not any claims.

Why would any country want to back their currency with gold?

You assume they want honest money with a controlled supply that is not subject to manipulation where in reality the opposite is true.

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28 minutes ago, Au79 said:

For the US money supply to be back by gold,

 

if the us currency supply was backed by gold...

there is no direct connection between the trading of the dollar

and the trading of gold. the dollar is used to trade for goods

and services. gold is a store of value.

if there are 8 million silver pandas, they are worth a minimum of

bullion at $15/oz. there are 200k britannias that makes britannias

worth 40x more(40x as rare) or $600/oz?

 

HH

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58 minutes ago, mr-dead said:

Why would any country want to back their currency with gold?

Well China and Russia along with several others are stacking huge amounts of gold - several countries are repatriating their gold. They are certain up to something - i expect they are amassing real money to give their fake money more credibility.

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2 hours ago, mr-dead said:

Why would any country want to back their currency with gold?

You assume they want honest money with a controlled supply that is not subject to manipulation where in reality the opposite is true.

So very true Mr D when ever this goes wrong the answer will be to create more money.... Because that’s always been the answer.

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19 minutes ago, JunkBond said:

I read somewhere that things got so bad in Weimar Germany during the 1920's that the price of a meal in a restaurant would increase from ordering to the bill arriving.

They just bin it and create a new "improved" one

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The first 20 minutes of the following YouTube clip pretty well sums up what is happening in the financial markets in the US and hence gold and silver etc...

When its time for the peepers to close, I suggest you have a listen, and maybe a big piece of the financial jigsaw might just fit in to place.

Then again Rob Kirby might just be talking Bollxxxs!

 

https://youtu.be/fRsGeCq0Xyk

buenas noches.

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We have computers now.....air money will be the future......it began with credit cards and slips of paper and has now evolved to keyboard strokes and ids......that juggernaut cannot be stopped......there might be a troublesome interim period where cash/bartering etc occurs but computers are not going anywhere....

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13 hours ago, JunkBond said:

I read somewhere that things got so bad in Weimar Germany during the 1920's that the price of a meal in a restaurant would increase from ordering to the bill arriving.

My mother told me stories from my grandmother that back then she used to get her full month worth of pocket money at the beginning of the month to better spend within that day...

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16 hours ago, sixgun said:

Well China and Russia along with several others are stacking huge amounts of gold - several countries are repatriating their gold. They are certain up to something - i expect they are amassing real money to give their fake money more credibility.

I was speaking to an investor friend of mine and this subject came up. From what  some of the analyst circles say, the gold stacked by those 2 countries is with a view  to safeguard against dollar inflation. They both have a lot of dollar reserves...

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12 minutes ago, ilovesilverireallydo said:

Don’t get me wrong, I think this video is not great. However I know in my lifetime golds gone up 25x 

in another 45 years who knows ;) 

E04C38E0-680C-4105-AB55-7D08E2FE5572.jpeg

 

 

The problem is when you factor in inflation from 1973 to current date that £43 equates to £510 now.

So basically you have doubled your intitial investment over 46 years which doesnt sound so impressive.

Capture.PNG

Edited by mr-dead

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1 hour ago, ilovesilverireallydo said:

I was speaking to an investor friend of mine and this subject came up. From what  some of the analyst circles say, the gold stacked by those 2 countries is with a view  to safeguard against dollar inflation. They both have a lot of dollar reserves...

They both had USD and US Treasuries. Most countries hold these.

Russia has sold off all her US Treasuries, she still has USD but this is of less and less use as there have been sanctions on Russia for years which blocks the use of the USD banking system, so really Russia should not care about USD depreciation but she keeps on stacking gold. The number Treasuries held by China is very large but buying has stopped and they are being sold off. Many are sold to finance the Belt and Road initiative.

So there is an element in having gold to hedge the decline of USD holdings. However the same issue faces every country for every currency but many are not stacking gold to the rafters. The official reserves of gold held by Russia and China are growing rapidly but do not reflect the true amounts. i have heard estimates of up to 40 000 tonnes between them. This seems high but i would not be surprised if they were in the 30 - 40 thousand tonne range. China is mining gold in China at a loss to get her gold holdings up. There is a concerted effort to build up gold reserves. Gold is being factored into trade payment systems. There is is far more than hedging against USD inflation - entities can hedge USD inflation in the paper markets much easier.

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3 minutes ago, sixgun said:

They both had USD and US Treasuries. Most countries hold these.

Russia has sold off all her US Treasuries, she still has USD but this is of less and less use as there have been sanctions on Russia for years which blocks the use of the USD banking system, so really Russia should not care about USD depreciation but she keeps on stacking gold. The number Treasuries held by China is very large but buying has stopped and they are being sold off. Many are sold to finance the Belt and Road initiative.

So there is an element in having gold to hedge the decline of USD holdings. However the same issue faces every country for every currency but many are not stacking gold to the rafters. The official reserves of gold held by Russia and China are growing rapidly but do not reflect the true amounts. i have heard estimates of up to 40 000 tonnes between them. This seems high but i would not be surprised if they were in the 30 - 40 thousand tonne range. China is mining gold in China at a loss to get her gold holdings up. There is a concerted effort to build up gold reserves. Gold is being factored into trade payment systems. There is is far more than hedging against USD inflation - entities can hedge USD inflation in the paper markets much easier.

Right, personally I am of the opinion that they are aiming to peg against gold at some point and reintroduce the gold standard. 

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1 hour ago, mr-dead said:

 

 

The problem is when you factor in inflation from 1973 to current date that £43 equates to £510 now.

So basically you have doubled your intitial investment over 46 years which doesnt sound so impressive.

Capture.PNG

Correct. However I don’t see pms as an investment unless trading etfs on the exchanges. I use them as a hedge against inflation, and an alternative saving mechanism.

As such Gold hits the spot for me, I suck at saving and speculative investments  are not an area I like playing with. 

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