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Originally posted by metalpr
if gold goes skyrocket, the US gold reserves value will skyrocket too. Being the United State the biggest gold owner in the world (I'm not talking about if the US owe it all or not), having 8x more gold than China with the crash of the dollar and the re-establishment of the gold based system, I think the US will benefit too.
Originally posted by Amagnon
Originally posted by metalpr
if gold goes skyrocket, the US gold reserves value will skyrocket too. Being the United State the biggest gold owner in the world (I'm not talking about if the US owe it all or not), having 8x more gold than China with the crash of the dollar and the re-establishment of the gold based system, I think the US will benefit too.
Dont be too sure those reserves are correct or there - Fort Knox has not been audited for 50+ years - and the gold may have been sold to prop up the dollar.
There are also many tonnes of gold held in the US that belongs to Germany - however, does any of it still remain? Germany is unlikely to ever see that gold again I think,.
You seem to think that the people who may control this thing care what happens to the US - I doubt it. The gold that once belonged to the US people is likely long since stolen - and now resides in private hands - the hands of the scum.
I transferred all my assets into mainly silver at the end of 08, I also hold some gold and equities. The silver has more than doubled - and I see nothing that is going to prevent silver from going up - I think a natural silver:gold ratio in the future will be 8:1 or lower. We now mine only around 8 times more silver than gold and the ratio is falling - also above ground stocks of silver are lower than that of gold - in the past the ratio was around 15, to 20 to 1 with gold - we have consumed a great deal of silver over the last 100 years, this has never happened before in human history.
The fundamental historical ratios are therefore no longer useful - there is a new paradigm guiding the value of silver in the future - on the upslope I think that the silver price may exceed that of gold - though long term it will possibly be less.
More patents using silver were developed last year than for any other metal - it is the most reflective, thermally and electrically conductive and it kills bacteria - it has value as an industrial and precious metal - and it is rare.
I do not rule out the possibility that the future silver price will exceed gold, and stay there.
On the monetary crisis - the problem is systemic - money creation requires expansion of debt. The debt has expanded exponentially with respect to underlying assets - there are too many claims to underlying assets, and they cannot all be resolved/satisfied.
So at some point there will be a rush to grab what you can - gold is like transportable real estate, demand will increase sharply - there is no upper limit to price with respect to dollars. A trillion dollars an ounce is achievable in a hyper-inflationary environment - so guessing at a dollar value is not really useful unless you have some idea of the dollars purchasing power. Its value with respect to other commodities such as oil is more useful - and I expect its value to increase sharply.
In the event of a dollar collapse, people will still need money to trade between themselves - things like tins of food, packs of cigarettes and so on will do - as will silver and gold coins - people will accept them as valuable and useful for trading, as they have done for thousands of years.edit on 1-12-2010 by Amagnon because: (no reason given)
Originally posted by godddd
I do want to urge people to be careful with buying gold or silver, because in a crash prices will fall.
Also one cannot eat it and indeed prices have skyrocketed, who says there isn't a bubble in gold and silver?
Looking at returns, stocks have always done well, as do treasurie bonds.
Gold is somewhat sideways and is only good when there is a inflation of the currency.
Having physchical gold or silver is a good thing when infation hits, but it won't double or generate profit.
It is only because of devaluating the fiat money that prices go up.
If the market crashes, prices of gold and silver go down aswell.
As for the gold not being there, i have to search for it but i know there was an article about secret transportation of tons of gold.
The banksters surely are not stupid, having seen Max Kaiser and his show on buying silver to bring JPMorgan down is really a laugh.
Everybody believe they are short? then bring some evidence on it because they know tenfold better than us what is going on and happening in the near future.
Originally posted by Surfrat
If Congress does not extend the Bush tax cuts, especially locking in the 15 percent capital gains tax rate; it will probably spark a stock market Selloff starting December 15 as investors move to lock in capital gains at a lower rate than the 20 percent it would jump to next year.