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Originally posted by obummerdeception
The op has hit the NAIL on the HEAD.. People buying gold now, are making
the people who bought it back when, FILTHY rich...
I would go as far as calling them morons...
Originally posted by XplanetX
Once again, all the nutjobs that think gold is in a bubble will come out and say "I told you so".
Then after this current correction in the price ends and Gold goes through $2,000 an ounce we will get another thread just like this one.
Don't get me wrong, gold will go into one of the biggest bubbles in history. The price will exceed a 1:1 ratio with the Dow. This is much further down the track.
Contrary to what the OP says, look at this current price correction as an opportunity to get your foot in the door. In my opinion silver is the better buy, but gold is still an excellent hedge against the carnage that lays ahead.
Originally posted by galadofwarthethird
Originally posted by hawkiye
OP has no clue what he is talking about. Gold and silver have always retained thier value (purchasing power) through out history. When the dollar collapses gold and silver WILL be the currency. In Zimbabwe people are digging and panning all day for a gram or two of gold just to eat...
Ah but there not doing that because they want to, there doing it because there under a parasitic system, and there info-structure was crushed long ago, thus making them slaves to those above them who know that gold is worthless but in the minds of those who believe in its worth. Why you ask? Because they cant set there own price for gold, but have to pander to those above them and there price.
And those above them like to keep them running in circles.
And so they have no choice but to be always in dept or like you said digging and working for others who get to set the standard of worth. And that's why crushing there infrastructure and means of survival is key and always the main goal of any take over or conquering that is going to be happening.
Its all about control and you being able to set a price for things, and offcourse making the rules.
And so there sitting on a gold mine "literally" and yet are dirt poor and starving to death.
Originally posted by thejlxc
sbctinfantry, so if what you're saying is true. Gold is a trap, they may kick in your door to get it. What makes you think land or anything else is safe. Nothing AT ALL is safe, until the bankers and their imaginary debt is ended. Nothing else matters. I hope people see the truth before it's too late.
The Outstanding Public Debt as of 25 Aug 2011 at 02:01:40 PM GMT is:
The estimated population of the United States is 311,184,171
so each citizen's share of this debt is $47,097.17.
The National Debt has continued to increase an average of
$3.96 billion per day since September 28, 2007!
Concerned? Then tell Congress and the White House!
Aug. 18 (Bloomberg) -- Venezuelan President Hugo Chavez ordered the central bank to repatriate $11 billion of gold reserves held in developed nations' institutions such as the Bank of England as the metal rises to record levels behind a weakening U.S. dollar.
Venezuela, which holds 211 tons of its 365 tons of gold reserves in U.S., European, Canadian and Swiss institutions, will progressively return the bars to the central bank's vault, Chavez said yesterday. JPMorgan Chase & Co., Barclays Plc, Standard Chartered Plc and the Bank of Nova Scotia also hold Venezuelan gold, the president said.
"We've held 99 tons of gold at the Bank of England since 1980. I agree with bringing that home," Chavez said yesterday on state television. "It's a healthy decision."
Read More: www.sfgate.com.../g/a/2011/08/17/bloomberg1376-LQ3LOM1A1I4G01-4F3NV6CM4I0V2M0LDU44MOQ0H4.DTL
Now that Gaddafi has a two million Libyan dinar (£1 million) price on his head ‘dead or alive’ it is only a matter of time before someone takes advantage of it.
As Gaddafi and his henchmen have been removed somebody (or bodies) have to take over and that will mean taking charge of all the Libyan assets that have been frozen in foreign countries as well as those, such as the gold, that remain undiscovered, together with the obvious oil reserves.
When you consider that a BBC report on 26th May 2011 put the value of the frozen Libyan Investment Authority (LIA) at about $70 billion, making it the 13th largest sovereign fund in the world (no mean feat for the 105th most populated country) you get an idea of the size of the asset pile people will be fighting for control over. £12 billion of this is frozen in the UK.
Read More: www.economicvoice.com...
Originally posted by galdur
Gold has fallen considerably but too early to tell if this will be a meaningful correction to rectify the overbought status of the yellow metal. Checking out the 200-day moving average around 1500 would be healthy for this market in my opinion.