Gold to Be Reclassified in the U.S., page 1


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Topic started on 18-7-2012 @ 09:36 PM by stirling

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.



reply posted on 18-7-2012 @ 09:47 PM 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 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.


reply posted on 18-7-2012 @ 10:27 PM by thePharaoh
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
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