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Platinum-backed currency?

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posted on Apr, 29 2011 @ 03:49 PM
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Is it possible to have a platinum-backed currency?

Or palladium for that matter?

Wouldn't that be a way for the NWO to stick it to everyone buying silver and gold because they think the next currency will be backed by silver and gold?

I ask because JP Morgan has been buying large amounts of platinum

J P Morgan and Blackrock buying platinum

Thoughts?




posted on Apr, 29 2011 @ 03:50 PM
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reply to post by Skerrako
 


Watching Star Trek again? Ferengi Business School?


Just buy the Mines.

I recommend watching AMEX:GMO



posted on Apr, 29 2011 @ 03:52 PM
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reply to post by moogins
 


thanks for answering my question so profoundly


it's like asking what 2 plus 2 is and you answer: CHEESEBURGERS



posted on Apr, 29 2011 @ 03:55 PM
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reply to post by Skerrako
 


I don't think everyone's buying silver and gold because they think that's what will back the next currency - I believe they're buying so it can be used AS currency, or a safe store of one's wealth until the financial and societal chaos we'll likely see before much longer has passed well enough to diversify back out into other currencies, etc.

One of the other metals backing a new official currency wouldn't be a bad idea, though, and would be sweet crow to watch all the gold standard-haters eat. If the governments all move to an actual commodity-backed currency, it will vidicate all claims and arguments made by the gold bugs. I wouldn't mind seeing it myself, honestly, so they can't inflate and devalue the currency anymore along with running us into ridiculous amounts of debt.

I doubt they'd move to a platinum currency, though - I believe it's less common than gold. Likely this is being used as a wealth store, I'd assume. I'm not up to snuff on all this, though, so could be missing something here.

Edit:
MMMMmmmmm...cheeseburgers.....
edit on 4/29/2011 by Praetorius because: (no reason given)



posted on Apr, 29 2011 @ 03:58 PM
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Originally posted by Skerrako
reply to post by moogins
 


thanks for answering my question so profoundly


it's like asking what 2 plus 2 is and you answer: CHEESEBURGERS


I also give you a tip on what to watch. Why buy the end product / or by-product when you can buy into the source



posted on Apr, 29 2011 @ 04:02 PM
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reply to post by Skerrako
 


Isn't that similar to what Castro did in Cuba? It seems that I remember that he advertised that he was paying exorbitant amounts for gold and silver, and when most of the country sold their gold and silver to him, he changed the monetary system, pretty much bankrupting the population. It's worked before...



posted on Apr, 29 2011 @ 06:34 PM
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reply to post by moogins
 



Originally posted by moogins
Watching Star Trek again? Ferengi Business School?

Just buy the Mines.

I recommend watching AMEX:GMO



Originally posted by moogins
I also give you a tip on what to watch. Why buy the end product / or by-product when you can buy into the source


I maintain an active portfolio of base/pm small cap miners so I'm pretty familiar with the sector. GMO may ultimately prove to be a good speculative play on moly, but why would you recommend a development stage molybdenum miner as a source for platinum ?

GMO is a primary moly play with a side-dish of copper & silver [bi-product] on their Liberty concession. Read GMO's NI 43-101 resource estimates and the 2008 pre feasibility study....you won't find an ounce of platinum.

GMO

******

Hey Skerrako, both JPM & Blackrock have increased their footprint in the copper market recently, ostensibly soaking-up supply to back their upcoming copper based ETF's. Could there be some new platinum ETF's on the horizon ?


Copper ETFs to glitter in commodities market

J P Morgan has already filed with the SEC an application for a physically backed ETF which, if fully taken up, would result in a holding of 61,800 tonnes of metal stored in the bank's Henry Bath warehouses. JP Morgan’s ownership of Henry Bath warehouses was viewed as a key element in the launch of its fund as the cost for storing copper would be low.

BlackRock also wants to launch a physically backed Copper ETF. It plans to issue up to 12,120,000 shares. The metal will be stored in London Metal Exchange-registered warehouses owned by Metro International Trade Services LLC. BlackRock's initial unit of the iShares Copper Trust Fund will consist of 2,500 shares, called a basket, backed by 25 tonnes of copper. One share would equal 10 kilos of copper (22.0462 lbs) but Black Rock intends that only “baskets” are tradable. - Full Text


Related: JPM Corners Copper Market, LME Says Not To Worry, All Is Good



posted on Apr, 29 2011 @ 06:36 PM
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Originally posted by OBE1
reply to post by moogins
 



Originally posted by moogins
Watching Star Trek again? Ferengi Business School?

Just buy the Mines.

I recommend watching AMEX:GMO



Originally posted by moogins
I also give you a tip on what to watch. Why buy the end product / or by-product when you can buy into the source


I maintain an active portfolio of base/pm small cap miners so I'm pretty familiar with the sector. GMO may ultimately prove to be a good speculative play on moly, but why would you recommend a development stage molybdenum miner as a source for platinum ?

GMO is a primary moly play with a side-dish of copper & silver [bi-product] on their Liberty concession. Read GMO's NI 43-101 resource estimates and the 2008 pre feasibility study....you won't find an ounce of platinum.

GMO

******

Hey Skerrako, both JPM & Blackrock have increased their footprint in the copper market recently, ostensibly soaking-up supply to back their upcoming copper based ETF's. Could there be some new platinum ETF's on the horizon ?


Copper ETFs to glitter in commodities market

J P Morgan has already filed with the SEC an application for a physically backed ETF which, if fully taken up, would result in a holding of 61,800 tonnes of metal stored in the bank's Henry Bath warehouses. JP Morgan’s ownership of Henry Bath warehouses was viewed as a key element in the launch of its fund as the cost for storing copper would be low.

BlackRock also wants to launch a physically backed Copper ETF. It plans to issue up to 12,120,000 shares. The metal will be stored in London Metal Exchange-registered warehouses owned by Metro International Trade Services LLC. BlackRock's initial unit of the iShares Copper Trust Fund will consist of 2,500 shares, called a basket, backed by 25 tonnes of copper. One share would equal 10 kilos of copper (22.0462 lbs) but Black Rock intends that only “baskets” are tradable. - Full Text


Related: JPM Corners Copper Market, LME Says Not To Worry, All Is Good










Yes it is primarly a Moly play, just what China is buying up. Oh wait they already did
That is a 20 USD stock written all over it
Hint
Who cares what ore they got.

1.1 BILLION pounds of Moly. That's a lot of Moly over a couple of decades.



edit on 29-4-2011 by moogins because: (no reason given)



posted on Apr, 29 2011 @ 06:53 PM
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Originally posted by moogins
Yes it is primarly a Moly play, just what China is buying up. Oh wait they already did
That is a 20 USD stock written all over it
Hint
Who cares what ore they got.


The subject here is platinum, so I would assume the OP cares, as do I, and probably anyone that takes the time to read his/her thread. Your comments added zero value to the topic.

If you want to post stock picks....log-on to Yahoo. Pumping & pimping is tolerated there.



posted on Apr, 29 2011 @ 06:53 PM
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Originally posted by OBE1

Originally posted by moogins
Yes it is primarly a Moly play, just what China is buying up. Oh wait they already did
That is a 20 USD stock written all over it
Hint
Who cares what ore they got.


The subject here is platinum, so I would assume the OP cares, as do I, and probably anyone that takes the time to read his/her thread. Your comments added zero value to the topic.

If you want to post stock picks....log-on to Yahoo. Pumping & pimping is tolerated there.


Metal is metal who cares what name it has.



posted on Apr, 29 2011 @ 07:36 PM
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reply to post by Praetorius
 





so they can't inflate and devalue the currency anymore along with running us into ridiculous amounts of debt.


Surely by inflating and devaluing the Platinum they will inflate and devalue the currency ? The current system would be fine if it weren't for those in control of it.

Just waiting for a brave person with the support of the public to bring it forward is this bill proposed by Dennis Kusinich in Dec '10 it abolishes the Federal Reserve and Fractional Reserve Banking, but no mention of gold. You can dowload a pdf copy.

HR: 6550 National Emergency Employment Defense Act



posted on Apr, 29 2011 @ 08:12 PM
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I hope palladium doesn't become to standard trade or anything, for inorganic/organic chemists its a really pricey tool but awesome at doing really unusual transformations.



posted on Apr, 30 2011 @ 01:19 PM
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reply to post by OBE1
 




Hey Skerrako, both JPM & Blackrock have increased their footprint in the copper market recently, ostensibly soaking-up supply to back their upcoming copper based ETF's. Could there be some new platinum ETF's on the horizon ?


Hmm I would jump on that train, I've always been interested in expanding past silver and gold.

But with JP Morgan at the helm I'm sure eventually they'll crash it (I'll hop off before then).

My personal opinion is that as people begin to get priced out of silver and gold (which has happened to some extent already) they will go for copper next. With JP cornering the market they will be the main dealer, and that "physical ETF" may turn into a fractional ETF quickly. (like SLV and GLD).

I'm a youngin, and don't have much experience in the markets, but looking at JP's past performance it seems right up their ally.

Thoughts?



posted on Apr, 30 2011 @ 01:21 PM
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reply to post by ukWolf
 





Just waiting for a brave person with the support of the public to bring it forward is this bill proposed by Dennis Kusinich in Dec '10 it abolishes the Federal Reserve and Fractional Reserve Banking, but no mention of gold. You can dowload a pdf copy. HR: 6550 National Emergency Employment Defense Act


Nice, Ill save that link.

I think Kusinich should run as Ron Paul's running mate. They believe in the same things, and it would be a great show of true bipartisianship!



posted on Apr, 30 2011 @ 02:30 PM
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reply to post by Skerrako
 


The Bill is a few pages long but well worth the read. There is nothing here in the UK that even comes close to suggesting as much change to the money system as in HR6550.

I thought it was a good point that the OP raised, "a platinum standard", I'm interested to hear what the financial wizards on ATS have to say about the possibility.

Theres another thread running that questions Ron Pauls' alligence, it intimates that he is a Rockerfeller shill. Now as I was a 'supporter' of RP I didn't bother going into the thread for a few days. It advocates that as RP is a supporter of a return to a Gold Standard of which the "elites" have most of the supply, that RP is doing the bankers work for them.

On there point about the gold standard I would agree as to whether RP is a Rockerfeller shill , I have to learn more.



posted on Apr, 30 2011 @ 04:05 PM
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reply to post by moogins
 




Metal is metal who cares what name it has.


You're right, iron, silver or aluminum it's all totally the same.

That's why my car has a frame made out of gold right?


edit on 30-4-2011 by Skerrako because: (no reason given)



posted on Apr, 30 2011 @ 04:06 PM
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Originally posted by Skerrako
reply to post by moogins
 




Metal is metal who cares what name it has.


You're right, iron, gold or aluminum it's all totally the same.

That's why my car has a frame made out of silver right?



Big plays are in Moly right now, not Silver sure RE's are also big plays, but every Grandmother and their dog is after RE's so play Moly. Silver Gold blah blah yes yes. China is buying up RE and Moly, not Silver or Gold.



posted on Apr, 30 2011 @ 04:44 PM
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Originally posted by moogins
Silver Gold blah blah yes yes. China is buying up RE and Moly, not Silver or Gold.


Just to cover domestic demand, China, the worlds largest Gold producer, and 3rd largest Silver producer is importing record tonnage.

China gold imports soar six-fold on investment demand

China Silver imports hit record 3500 tons in 2010

Chinese imports of Platinum jumped 40% in 2010

I'll leave this troll to y'all youngsters



posted on Apr, 30 2011 @ 04:47 PM
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Originally posted by OBE1

Originally posted by moogins
Silver Gold blah blah yes yes. China is buying up RE and Moly, not Silver or Gold.


Just to cover domestic demand, China, the worlds largest Gold producer, and 3rd largest Silver producer is importing record tonnage.

China gold imports soar six-fold on investment demand

China Silver imports hit record 3500 tons in 2010

Chinese imports of Platinum jumped 40% in 2010

I'll leave this troll to y'all youngsters


China is gobblign up all Moly producers in the US Aus and Africa, and RE. They are restricting exports on all metals. Which is good, that drives up prices of mines.

Moly is used in place of Nickel in the manufacturing of Steel but that is not its only application but it's a huge one and China is constructing a LOT and that requires STEEL.

On top of that China is going to be the world leader in ENERGY, THORIUM reactors. We will all be buying our energy from them in the future (that also requires STEEL and hence MOLY
).


edit on 30-4-2011 by moogins because: (no reason given)



posted on Apr, 30 2011 @ 05:36 PM
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reply to post by Skerrako
 


Really, I'd suppose any precious metal has a chance to be what backs some currencies once we run out of what currently backs our currency, oil, but by the time that happens a lot of the Earth will be destroyed because it's going to be an epic fight over who gets the last drop. Rare Earth metals and Gold are extremely essential to all high-tech electronics, but we will probably run of new sources of those at the same time we run out of oil. I'm not sure what platinum is actually good for besides looking shiny. I am not so sure anyone would want to redeem their currency for platinum.

We are going to have to start mining the moon this century if we want to keep up with the demand of precious metals. We really are destroying the world at an insane rate compared to the rest of the civilizations before us.

I think what the NWO really wants to do is to use SDRs that are not backed by anything, and then back all our currencies on the SDRs. That’s how they will continue to control the world, put a central bank in every country and control the value of their currency through SDRs. If they don’t go along with the plan or have nothing to offer they will decrease the value of their currency and starve into submission.


edit on 30-4-2011 by tooo many pills because: (no reason given)



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