Terrible Development! Ridiculous Compromise yet again!

reply to post by neo96


OK, but as Gold is also priced in most other major currencies, including partially backing the swiss franc, which is kickign seven bells of crap out of the USD, whatever was to "replace" the USD, need to be about 1000% stronger that all other currencies to get the figures you suggest. and to also fly in the face of 4000 years of human history!

Long and short of it. You're not going to see that happen any time soon my friend.

Suggest you check out the likes of GATA.org so you can see what is really going on.

reply to post by JakiusFogg


I'm skeptical of Gold. THere is supposedly about 6 times more "paper gold" than there is physical gold. There is also the development of Forex no longer selling on the US market. There is also the issue of the UK and Canada having billions in missing gold, and the calls to audit Ft. Knox in the US being ignored. Of course, there is always the mystery of what really gives gold any value to begin with? It was minorly useful in the production of alloys, and it has recently found some usage in electronics, but overall it isn't very important to one's survival, so why the universal value? Unless one believes the ancient astronaut theories, and then gold takes on a whole new meaning, and you probably don't want to have any when the fateful day comes! Remember, "the meek shall inherit the earth." When they come to collect all that gold........hide!

Seriously, I think I would sink my investments into ammunition, rice, and camping gear!

If I were rich, I would be sinking my dollars into distressed real estate. It is a much better investment than the gold bubble. Buy now for 50 to 60 cents on the dollar max! Refurbish, rent, and wait for the markets to recover. If the markets don't ever recover, at least you have real estate to farm!

reply to post by getreadyalready

I hear ya however. Gold and Silver in all cultures around the world are considered a store of wealth. Have been for eons past, so I agree with you 100% prepare for physical eventuality, food water supplies tools etc etc etc as any good boy scout would, including me. But this is NOT an either or situation.

But also prepare asset wise. Just remember those green things in your pocket are losing their value day by day, that is one of the reasons the price keeps going up. simple inflation.

And yes the majority of "gold" traded on the CME is paper contracts and not real gold. If all people who "buy gold" on the CME ask for physical delivery you are looking at a default of epic proportions that would see at the last conservative estimate I saw at around $55,000 an oz.as the ratio of paper to physical on the CME is around 50:1

Some call it a bubble, due to manipulation. but what people fail to realise, truthfully is that it is more or an "anti-bubble" the manipulation is designed to keep the price low!!

Yes there are rumours that gold is missing, and that "they" will not let fort Knox be audited, along with the tungsten bars found in vaults in Russia. but if this comes out what will that do to the price. it introduces further scarcity, so the price goes.......up.

The whole reason that I hold it is this. even if the price tomorrow dropped to $500 an ounce I would not be so worried. for one simple reason. That whatever happened for that to happen can only mean that the underpinning currency on which it is based has deflated (opposite of inflation) i.e. grown in strength. That would be matched by falling prices across the board, as simply the currency would be worth more. So that being the reasoning, if you pay $1500 for a tope end PC today, and tomorrow the world falls in and the price drops then the PC would be priced at $500.

Even if everyone sold someone has to buy, unless you're all thinking that the US gov will just confiscate everything like they did several decades ago. However there is one tiny problem with that premise.

China amongst others now hold most of it, and they are not selling.

reply to post by getreadyalready


prettty skeptical of gold too considering what fdr did confiscation!!

its not like that "good government" would never do anything like that

even with supplies what the government wants the government takes and has time and time agian

reply to post by Flyer

With point 2, youd lose your house.

Yes, maybe eventually, but the banks would be overwhelmed indefinitely trying to organize the chaos.

With point 3, experts say fuel would go up if people boycotted it. if that happens then everything gets more expensive. I think fuel prices need to be tripled in the US anyway as well as taxes raised several hundred percent to bring the debt down.

My point was that if EVERYONE was united to support the lowest market price, the strongest companies would be forced to lower their consumer prices. This is the way the market works.

For the richest economy in the world to go through all these shenanigans is a travesty, ridiculous, and a shame. And all in all.... there were not many real spending cuts, just a promise, or threat of some down the road. There's so many things that can be cut i.e. the arts, grants for dubious research projects, foreign aid, military.... but DC is gutless to do that. More so called status quo.

How does that reflect us to the rest of the world?

Originally posted by Veritas1
I apologize for not putting this up earlier, but the bill incorporates the term "sequestration"...this is what it means...

Sequestration

Originally a legal term referring generally to the act of valuable property being taken into custody by an agent of the court and locked away for safekeeping, usually to prevent the property from being disposed of or abused before a dispute over its ownership can be resolved. But the term has been adapted by Congress in more recent years to describe a new fiscal policy procedure originally provided for in the Gramm-Rudman-Hollings Deficit Reduction Act of 1985. (Full text on page 9)

I didn't want to quote such a long offering but I think this has some value of thought, so I included the page number where the full text can be read.

The real property in question just might be our Military! So now an outside (other than American) power can wield the mightiest Army on the planet, and legally too!

Sounds about as Apocalyptic as it can get! Ouch!

If my maths is right then -

9% a year over 10 years = over 115 % increase
6% a year over 10 years = 68% increase

reply to post by ontarff


Well, it depends on how much the other nations are able / ready to pay for the petrol. I would just see a big shift towards external markets .

reply to post by getreadyalready


Start preparing your survival gear. Learn how to grow vegetables.

Titor says so.

reply to post by ontarff


If Ron Paul voted "no". I'm voting for Ron Paul 2012.

I congratulate you on your thoughts my son. Indeed you are right about what you just said. And more the "hard reboot" you are talking about is really really soon.



reply to post by Komodo

www.youtube.com...=39
A must watch video.
A interveiw from Lyndon LaRouche. Very scary times for the people over in the US. And for most other countries down the track.

America died today.

We can't sustain ourselves any longer.

Chaos and anarchy will soon come to our cities.

Martial law is coming.

2012 is real.

Originally posted by JakiusFogg
Completely agree, however I feel the main goal of this entire debacle was

a, push it out until after the election
b, Push it OUT UNTIL AFTER THE ELECTION FOR GODS SAKE< PUSH IT OUT!!!!

THAT and "Let's pass something quick so we can go on our 5 week vacation. Let the next administration deal with it!"

Unbelievable!

How did we allow our government to become so corrupt? And now that they know we're on to them... will they try to stop us or avert our attention with some manufactured crisis in order to hold on to their power and/or try and seize total control over Americans?

That doesn't sound realistic but nothing surprises me anymore.

the time to buy gold was 10-15 years ago. the time to sell gold is now. you don't buy into a market when its peaking. invest in what you can always rely on. guns, ammo, food and water, survival equipment. are you going to carry around pounds and pounds of a useless metal that isn't even very pretty, or more ammo and food? you can't eat gold, nor will it be worth more than a gun.

remember what everyone said before the housing market crashed? "property values never go down, so buy while its cheap, or get locked out!"

ring any bells? particularly the shiny golden one?

Originally posted by ren1999
reply to post by ontarff

 

If Ron Paul voted "no". I'm voting for Ron Paul 2012.

Of course he voted no, so he can count on your vote then?...

Texas congressman and presidential candidate Ron Paul denounced the latest debt ceiling deal and the country’s overall fiscal policy during a campaign stop in Iowa City today.

Paul was one of 66 Republicans who voted against the plan Monday, which would raise the debt ceiling by up to $2.4 trillion and cut spending by $917 billion.
caucuses.desmoinesregister.com...

reply to post by Freenrgy2


Been waiting on it not hoping, but anticipating it, you may be right you could be wrong too, but in the end I hope that people have been preparing for an impending disaster, prepared for anything unknown 2012 is real it is only how do we deal with the future, it hasnt been written completely yet I still expect the ignorant to act a fool and yes I am anti law enforcement but I do not believe completely in anarchy either. The bill that was passed has been largley opposed I read here earlier that it is making them effectively an enemy of us I say lets do it and have it over with.

Originally posted by Homedawg
reply to post by getreadyalready

 

Your sitting president could fix it all with one swipe of his pen...order the troops home now...simple fix...get them loading on plaes as soon as they can line up...but he wont fix it so dont blame someone else...he has the power

I agree that our current president should order the troops home.While, I support the maintenance of a sufficient military to defend the United States against aggression, the United States must avoid entangling alliances and abandon its attempts to acts as policeman for the world.

The best investment you could possible make right now is in lead, copper or steel jacketed