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Gold to Be Reclassified in the U.S.

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posted on Jul, 18 2012 @ 09:36 PM
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Gold to Be Reclassified in the U.S.;


www.profitconfidential.com

The central bank in the U.S.—the Federal Reserve—has recently released a memo to possibly change the status of gold bullion in this country. (Source: Federal Deposit Insurance Corporation, June 18, 2012.)

Currently in the U.S. and in many parts of the world, gold bullion is classified as a risk asset on which banks are allowed a 50% weighting. This means that for every $1.00 of gold bullion held, $0.50 worth is recognized as value on the books of the banks or central banks. The whole $1.00 is not recognized, because there is a risk, according to the classification, that gold bullion cou
(visit the link for the full news article)


edit on 7/19/2012 by Mirthful Me because: Title.




posted on Jul, 18 2012 @ 09:36 PM
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MY thoughts are kinda suspicious right now about this.....
Are we headed back to a Gold Standard currency? It apears the next thing to it.....
The gold prices will definately climb should this take effect .......
And now i wonder where all that gold in the Twin Towers basement went, or Gaddaffis 140 tons of gold, wheres that now????
then theres the gold hidden by the Japanese in the Phillipines when they left it for fear of losing it to enemy planes or subs.....
Does this mean that we are planning (at the Fed level)for the collapse of fiat money as well?????

www.profitconfidential.com
(visit the link for the full news article)
edit on 18-7-2012 by stirling because: (no reason given)



posted on Jul, 18 2012 @ 09:43 PM
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This is interesting indeed. For a while I have been thinking something different. With all the pushing of "buy gold" I was thinking the government was going to confiscate again...a nice little trick. Get everyone to invest then take it, wouldn't be the first time.



posted on Jul, 18 2012 @ 09:43 PM
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i think they are just trying to stay ahead of the curve.....

there has been a noticeable "want" in the international community that gold is prefered to money.
this is their attempt to introduce it but control the rate...

with all the banks f`ing up...the financial system is not as secure as it has always been..they made this enivitable.

peace



posted on Jul, 18 2012 @ 09:47 PM
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reply to post by stirling
 


The Gold Standard is not a possibility and it was dumb from the start. I think this is about the value of Gold being more stable now.

Basing a countries worth on how much Gold it happens to have would be probably one of the dumbest moves in history. It's bad enough it was attempted in the past.

I would not count on Gold being a good investment now though. The price is to high compared to the average cost of bringing it to market. It was only a little over a decade ago it was selling for less than it cost to produce. When it was under $270 the average cost of producing it was well over $300. Lot's of mines closed as a result and some never reopened. Mining is hugely expensive with the current regulations.

The largest Gold find ever is now being debated in Alaska and the mine may never open, even though the Gold is there. Millions of dollars are flowing in from outsiders to stop all mining in Alaska and they are paying for ads that are bald faced lies. They have tricked the fisherman into helping them, but the irony is the same people also want to stop all commercial fishing and will go after them next.

I'm betting now is the correct time to sell, before it drops to the $700 it should be at now.



posted on Jul, 18 2012 @ 09:56 PM
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So those of us with precious metals will make out better?



posted on Jul, 18 2012 @ 09:58 PM
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Warren Buffett made an interesting analysis of gold.

If you were to melt the entire worlds current gold supply it would from a cube with sides approx 68 feet wide per side, or the size of a tennis court.

He also had made the following remarks about gold


The cube of gold will produce nothing in the next hundred years (or, for that matter, thousands of years).
The cube of gold will not pay you interest or dividends, and it won't grow earnings.
You can fondle the cube, but it won't respond.


Warren Buffett concludes that gold is only as valuable as what you can convince someone it's worth.
edit on 18-7-2012 by MDDoxs because: (no reason given)



posted on Jul, 18 2012 @ 10:01 PM
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Theres got to be an ulterior motive here......I am sure of that....
The people who own lots of gold .would be in a good position to sell should the banks begin to move towards this zero risk type of investment.....
I think 15000 tons of the stuff is all there is.....since the dawn of mining....
Also what would happen to the silver and other precious metals if the do this?
Will they too be zero risk investments?

edit on 18-7-2012 by stirling because: (no reason given)



posted on Jul, 18 2012 @ 10:03 PM
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Well, it wouldn't be the first time the Fed unilaterally changed the rules regarding gold in the United States.



posted on Jul, 18 2012 @ 10:21 PM
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At the end of the day our monetary system is entirely based on what we perceive as valuable. Socio-economics place this perception of value on paper currency, credit and rare resources.

Their once was a time when I would give you a chicken to build me a fence.

Bottle caps anyone? (fallout reference)(fallout is a video game of a post apocolyptic America who uses bottle caps as currency)



posted on Jul, 18 2012 @ 10:27 PM
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Originally posted by Blaine91555
reply to post by stirling
 


The Gold Standard is not a possibility and it was dumb from the start. I think this is about the value of Gold being more stable now.

Basing a countries worth on how much Gold it happens to have would be probably one of the dumbest moves in history. It's bad enough it was attempted in the past.


i agree
the fact is...gold is not accessible to everyone, and their is a limited amount....

if countrys like china...only produce 345 tons...but consume 740 tons a year....then you can see why people would rather secure their assets with gold.

the illusion of money with all its smoke and mirrors.....is wearing really thin...

but no issue...people have always "tried" to store their money as gold bullion....im sure bankers themselves pull their money out and convert it to bullion


peacr



posted on Jul, 18 2012 @ 10:40 PM
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what happens to the dollar if gold drops to $200 an ounce?
just saying



posted on Jul, 18 2012 @ 10:53 PM
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The Fed and other central banks are equating gold with the US dollar, and therefore it's quite possible that Gold will lose it's value. This will drive investors to buy silver, platinum, and palladium as the risky asset that will grow in value during a recession.



posted on Jul, 18 2012 @ 11:10 PM
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If this guys method really works, then Gold and other platinum group metals can be produced in a microwave oven.
Is he a scammer? Anyone going to try his method? If it worked, then we'd all be rich, wouldn't we?

Maybe TPTB have been doing this for years, or maybe the Russians anyway.
Dr. John V. Milewski: Growing Gold from Glass in a Microwave - Part 1
www.youtube.com...



posted on Jul, 18 2012 @ 11:12 PM
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This just sounds like another trick to further over-leverage the banking system. They are doing the same thing to gold that they have currency. We can't continue using the same trick of printing more dollars over and over again; so, now we double the valuation to help banks show liquidity on the books. It is all smoke and mirrors. Pay no attention to the man behind the curtain.



posted on Jul, 18 2012 @ 11:38 PM
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they could care less about gold or it's value or a gold standard

all this will do is make balance sheets look better,,,,,,,,,, it will quickly double the value of any and all gold holdings,,,, that could defintely sure up a bad balance sheet


it has nothing to do with real money or gold itself,,,,,,,, fiat money is a banker's dream



posted on Jul, 18 2012 @ 11:47 PM
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Well, that's kind of stupid. Put gold at zero risk. That means if everyone puts their faith in gold, the people who control the prices of gold have complete control of the world economy. They could cause the price of gold to collapse and there would be no real tangible security on the books of all the worlds banks. This could destroy a lot of economies. This is just speculation of something that could occur.



posted on Jul, 19 2012 @ 12:19 AM
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One of the biggest problems going on in the economy is that no really knows what is going on. A report from a couple of weeks ago shows that the risk of gold was rated at 15%, now this report says 50%. Both of these reports relate to the Federal Reserve's valuations, so what is it really 15%, 50%, 150% ??? www.abovetopsecret.com... . Ron really needs to audit this mess.
edit on 19-7-2012 by kwakakev because: added space



posted on Jul, 19 2012 @ 12:33 AM
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Precious metals are just that. As opposed to tons of green tinted paper?
Intrinsic value is just that. As opposed to the acceptance of paper "money"?
The only value a paper dollar has is the one we all give it.

Of course that "assigned" value is dropping each time we print more (24/7) and borrow, borrow more. Does that make all that paper with more or less in the long run? And Gold? It sits in the vaults of banks. That is money. That is collateral against borrowing more and more paper. They know when paper fails they will revert back to gold and by then they will possess most of it. So they win now... and then.

Are you going to buy a head of lettuce with a wheelbarrow of cash? Or one pre '64 silver quarter?



posted on Jul, 19 2012 @ 12:47 AM
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Originally posted by rickymouse
Well, that's kind of stupid. Put gold at zero risk. That means if everyone puts their faith in gold, the people who control the prices of gold have complete control of the world economy. They could cause the price of gold to collapse and there would be no real tangible security on the books of all the worlds banks. This could destroy a lot of economies. This is just speculation of something that could occur.

Whats going to collapse is the paper money system. What is then going to be used for money is precious metals. All the paper currency in the world ever made is ashes. All the gold that was used as coin and currency in every civilization is still around. Being reused again and again. And that is the same everywhere. Dollars are not intrinsic. Gold is. It is the same in New York as Borneo as wherever.

The more dollars printed and borrowed, the less value they have. The less valuable paper money becomes, the more valuable precious metals become. The only value placed on paper money is the one they tell us it has and the one we believe it has. And since our currency is based on paper and not coined precious metals, then paper money has to continue to deflate. And just as directly gold increases.

Tell me I am wrong. In 1960's gold was 25.00 an ounce and a gallon of gas was 19 cents. Now gas costs 20 times as much and gold? 60 times at least.



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