Gold Monitoring Thread £ GBP only

[Gruff]

7 hours ago, HerefordBullyun said:

https://www.zerohedge.com/commodities/1-million-gold-bars-first-time-ever

 

Too late mate, I posted this info 14 posts above your's 7 hours before you... back to the NBS for you!

[HerefordBullyun]

7 hours ago, Zhorro said:

Gold had a strong end to the Comex week.  As anticipated some people took their profits, but the price of gold has not fallen as much as I feared it would.

You mean bullion banks sold off their shorts and re covered in the paper ponzi scheme 

[flyingveepixie]

I thought gold would have fallen further than it did on Monday too. It only fell about 15 quid before climbing back up again on Tuesday. But Friday is fast approaching and as we all know anything can happen if the big boys don't get too carried away with the cocaine on Friday afternoon.  It seems to me we're at that interesting moment on the curve - so often seen before - that spot has risen to a point where many people are shocked and don't feel like they want to invest because they've told themselves it'll soon drop significantly again. I offered a double sov for sale at spot yesterday and amazingly no one took it.  We all know spot is going one way only in the long term, and it's not in the direction of £400...

However.....  🤔    I'm wondering if when the currency reset finally comes it might bugger things up for holders of gold if an artificial manipulated gold price reset is also done at the same time. It would be to the advantage of the big players rather than the little guys and I wouldn't put it past them. I remember when the Euro was introduced - I was working in Bosnia and all the prices went up on day one. Something that might've cost DM 1.73, like a packet of biscuits or a chocolate bar, went up to 2 Euros, and that was applied across the board with everything.   I'm thinking the same scenario for the next currency reset, to which they will at the outset attach a much higher per unit value (so they can start devalueing it again for profit) which will by default push the gold price down. Add to that a bit of sneaky manipulation in the usual way and gold spot could fall quite dramatically.  Wonger might've been correct all along.

£1932.10

Edited August 21 by flyingveepixie

[Zhorro]

1 hour ago, flyingveepixie said:

I thought gold would have fallen further than it did on Monday too. It only fell about 15 quid before climbing back up again on Tuesday. But Friday is fast approaching and as we all know anything can happen if the big boys don't get too carried away with the cocaine on Friday afternoon.  It seems to me we're at that interesting moment on the curve - so often seen before - that spot has risen to a point where many people are shocked and don't feel like they want to invest because they've told themselves it'll soon drop significantly again. I offered a double sov for sale at spot yesterday and amazingly no one took it.  We all know spot is going one way only in the long term, and it's not in the direction of £400...

However.....  🤔    I'm wondering if when the currency reset finally comes it might bugger things up for holders of gold if an artificial manipulated gold price reset is also done at the same time. It would be to the advantage of the big players rather than the little guys and I wouldn't put it past them. I remember when the Euro was introduced - I was working in Bosnia and all the prices went up on day one. Something that might've cost DM 1.73, like a packet of biscuits or a chocolate bar, went up to 2 Euros, and that was applied across the board with everything.   I'm thinking the same scenario for the next currency reset, to which they will at the outset attach a much higher per unit value (so they can start devalueing it again for profit) which will by default push the gold price down. Add to that a bit of sneaky manipulation in the usual way and gold spot could fall quite dramatically.  Wonger might've been correct all along.

£1932.10

The big thing this week is Jay Powell's (Fed Chairman's) speech at the Jackson Hole economic conference on Friday.  He is expected to signal a quarter or half percent decrease in US interest rates in September.  This should be good for gold, and maybe one reason why gold did not fall very much yesterday.

Investors look to Powell's Jackson Hole speech for clues about Fed’s first cut (yahoo.com)

[Bratnia]

13 hours ago, HerefordBullyun said:

https://www.zerohedge.com/commodities/1-million-gold-bars-first-time-ever

$1M in $100 dollar bills weighs 321 troy ounces (10kg). Close to where money ($100 dollar bills) are worth their weight in gold

$1M in $1 dollar bills weighs a back breaking 1000kg 

[Bratnia]

5 hours ago, flyingveepixie said:

However.....  🤔    I'm wondering if when the currency reset finally comes it might bugger things up for holders of gold if an artificial manipulated gold price reset is also done at the same time. It would be to the advantage of the big players rather than the little guys and I wouldn't put it past them. I remember when the Euro was introduced - I was working in Bosnia and all the prices went up on day one. Something that might've cost DM 1.73, like a packet of biscuits or a chocolate bar, went up to 2 Euros, and that was applied across the board with everything.   I'm thinking the same scenario for the next currency reset, to which they will at the outset attach a much higher per unit value (so they can start devalueing it again for profit) which will by default push the gold price down. Add to that a bit of sneaky manipulation in the usual way and gold spot could fall quite dramatically.  Wonger might've been correct all along.

£1932.10

https://usdebtclock.org/gold-precious-metals.html suggests 128 times more paper gold than physical gold ... so you're suggesting that a reset might have gold at 1/129th of its recent price = £15/toz? Or perhaps the £4.24 price/toz that gold was prior to 1930's (and at least as far back as 1717)? If so buy/hold Britannia's one ounce gold coins as they have a legal tender £100 face value (floor).

 

 

[flyingveepixie]

30 minutes ago, Bratnia said:

https://usdebtclock.org/gold-precious-metals.html suggests 128 times more paper gold than physical gold ... so you're suggesting that a reset might have gold at 1/129th of its recent price = £15/toz? Or perhaps the £4.24 price/toz that gold was prior to 1930's (and at least as far back as 1717)? If so buy/hold Britannia's one ounce gold coins as they have a legal tender £100 face value (floor).

 

 

Why am I suggesting that..?   I'm not not suggesting anything at all, I'm merely speculating about what may or may not happen given that those who control everything and pull all the strings are a bunch of rogues who will stop at nothing to get what they want.   A good philosophy to bear in mind at all times is that anything can happen, and if there is a financial reset I strongly suspect gold will be affected in some way to the benefit of the manipulators and the detriment of the rest of us. Nothing more than that. I don't have a crystal ball.

£1927.55

Edited August 21 by flyingveepixie

[HerefordBullyun]

Going mainstream 

https://www.express.co.uk/finance/personalfinance/1938620/us-joe-biden-dirty-secret-national-debt-presidential-election-Donald-Trump

 

[Bratnia]

50 minutes ago, HerefordBullyun said:

Going mainstream 

https://www.express.co.uk/finance/personalfinance/1938620/us-joe-biden-dirty-secret-national-debt-presidential-election-Donald-Trump

 

Quote

The UK can't preach. Our debt-to-GDP ratio is around 100%. That's roughly the same size as our economy and it's a real worry.

You can bet that the UK's present 1960's style socialist Labour with its dictatorial majority will see a greater impact from their policies/practices than what American's will endure

[James32]

£1916. Ffs turn the tap off.

[davejones]

15 minutes ago, James32 said:

£1916. Ffs turn the tap off.

Yikes 1910

[katyc]

The pound has strengthened against the dollar today. Gold has barely moved in dollars. Let's be honest, the most important price is the world reserve currency; USD. So, technically, Gold hasn't moved... kinda... 😬

(trying to put a positive spin on it!)

[Chronos]

58 minutes ago, katyc said:

(trying to put a positive spin on it!)

Thanks, katyc. Everything nice helps.

 

[Chronos]

US Jobs Revised Down By 818,000 In Election Year Shocker, Second Worst Revision In US History:

https://www.zerohedge.com/markets/us-jobs-revised-down-818000-election-year-shocker-second-worst-revision-us-history

[katyc]

10 minutes ago, Chronos said:

US Jobs Revised Down By 818,000 In Election Year Shocker, Second Worst Revision In US History:

https://www.zerohedge.com/markets/us-jobs-revised-down-818000-election-year-shocker-second-worst-revision-us-history

Ahh, so that's why the dollar weakened against the pound! I was looking forward to this info (I'd heard it was going to be a shocker). 

[Chronos]

159 Countries Set to Adopt BRICS New Payment System:

https://watcher.guru/news/159-countries-set-to-adopt-brics-new-payment-system

[James32]

Just now, Chronos said:

159 Countries Set to Adopt BRICS New Payment System:

https://watcher.guru/news/159-countries-set-to-adopt-brics-new-payment-system

Wen price go back up?

[BLOOMMAN101]

cup n handle forming??

[katyc]

2 hours ago, BLOOMMAN101 said:

cup n handle forming??

[jultorsk]

7 hours ago, Chronos said:

159 Countries Set to Adopt BRICS New Payment System:

https://watcher.guru/news/159-countries-set-to-adopt-brics-new-payment-system

Quoted 159 countries sounds suss, tbh - given that there are 195 countries in the world and most of the West are still piling sanctions on Russia.

"She added that 159 foreign participants [banks] from 20 countries have already joined the Russian system."

https://english.news.cn/20240130/352603bfda7245599e97cc68264e637e/c.html

https://www.fxstreet.com/analysis/a-brics-alternative-to-the-swift-payment-system-could-accelerate-de-dollarization-202404071751

[Gruff]

3 hours ago, jultorsk said:

Quoted 159 countries sounds suss, tbh - given that there are 195 countries in the world and most of the West are still piling sanctions on Russia.

"She added that 159 foreign participants [banks] from 20 countries have already joined the Russian system."

https://english.news.cn/20240130/352603bfda7245599e97cc68264e637e/c.html

https://www.fxstreet.com/analysis/a-brics-alternative-to-the-swift-payment-system-could-accelerate-de-dollarization-202404071751

Not impossible to believe! Lots of countries will openly smear another, whilst still do business.

Look at how the sanctions against Russia worked out, Europe still bought gas and oil for a long time.
South Africa was the same in the 70's and 80's. Black listed and sanctioned but we still traded with the US and others, albeit on the black market and via intermediaries. 

Look at gold, another example. Central Banks and Governments trash it, yet they are stock piling at a rate not seen before.

[HerefordBullyun]

15 hours ago, katyc said:

The pound has strengthened against the dollar today. Gold has barely moved in dollars. Let's be honest, the most important price is the world reserve currency; USD. So, technically, Gold hasn't moved... kinda... 😬

(trying to put a positive spin on it!)

Read currency wars by james rickards....its all relevant. Every fiat currency is like watching a bald man fight over a comb.... it's like saying I'm the best but actually none really are when the world reserve currency has no sustainable tangible asset behind it. There are 4 cycles in life. We are now at the 4th turning. Theres books on this .... it's a case of thrive and survive or get fcked by the system which governments want CBDCS... war, media, pandemics are all a lever. Control. I had a conversation with my bro in law who thinks I am mad saying the world is controlled not by the government but a monolithic cartel of people which is embedded in society. Whereas JFK was murdered after the actual speech... many jackals have taken out people if they dont play ball..

Listen carefully this is in the 60s do you think its changed.. 

 

Edited August 22 by HerefordBullyun

[Chronos]

“One thing that we do that is fairly unique: we have about $10 million in gold [and s****r], mostly the small button-sized coins, that we keep outside of the banking system in denominations small enough that we can use for payroll." - How One Wall Street Giant Is Prepping For “Financial Collapse”:

https://madgewaggy.blogspot.com/2024/08/how-one-wall-street-giant-is-prepping.html

[Gruff]

2 minutes ago, Chronos said:

“One thing that we do that is fairly unique: we have about $10 million in gold [and s****r], mostly the small button-sized coins, that we keep outside of the banking system in denominations small enough that we can use for payroll." - How One Wall Street Giant Is Prepping For “Financial Collapse”:

https://madgewaggy.blogspot.com/2024/08/how-one-wall-street-giant-is-prepping.html

Surely in a big Wall Street giant, that's not enough for a months wages or might be one months wages?

[Chronos]

9 minutes ago, Gruff said:

Surely in a big Wall Street giant, that's not enough for a months wages or might be one months wages?

Probably just for one month.