It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Gold to Be Reclassified in the U.S.

page: 2
14
<< 1    3 >>

log in

join
share:

posted on Jul, 19 2012 @ 12:50 AM
link   
reply to post by intrptr
 


Why is gold so valuable?

Does anyone ever ask themselves this question?




posted on Jul, 19 2012 @ 01:57 AM
link   

Originally posted by Wertdagf
reply to post by intrptr
 


Why is gold so valuable?

Does anyone ever ask themselves this question?


From this website www.onlygold.com...


Gold was the first metal widely known to our species. When thinking about the historical progress of technology, we consider the development of iron and copper-working as the greatest contributions to our species' economic and cultural progress - but gold came first. Gold is the easiest of the metals to work. It occurs in a virtually pure and workable state, whereas most other metals tend to be found in ore-bodies that pose some difficulty in smelting. Gold's early uses were no doubtGold Coins ornamental, and its brilliance and permanence (it neither corrodes nor tarnishes) linked it to deities and royalty in early civilizations . Gold has always been powerful stuff. The earliest history of human interaction with gold is long lost to us, but its association with the gods, with immortality, and with wealth itself are common to many cultures throughout the world. ... Gold, measured out, became money. Gold's beauty, scarcity, unique density (no other metal outside the platinum group is as heavy), and the ease by which it could be melted, formed, and measured made it a natural trading medium. Gold gave rise to the concept of money itself: portable, private, and permanent. Gold (and silver) in standardized coins came to replace barter arrangements, and made trade in the Classic period much easier.

edit on 7/19/2012 by Emergingtruth because: (no reason given)



posted on Jul, 19 2012 @ 02:31 AM
link   

Originally posted by Wertdagf
reply to post by intrptr
 


Why is gold so valuable?

Does anyone ever ask themselves this question?


They sure do, & it is valuable because it is tangible. When TSHTF, as it surely will, watch as billions of $ of assets are vaporised, gone, disappeared without a trace. All those poor people with managed funds, pension funds, their life savings being gambled on their behalf in a global monetary casino. These lost assets will be explained away as collateral damage of the meltdown, & there will be nobody accountable for them. Property is better, but it will be hammered when it is only worth what someone is willing to pay for it. In this environment, you will see a rapid & desperate panic of assets into precious metals as people realise, too late that gold is the only thing left standing. However, don't fall for the trick of owning paper metals, for they will suffer the same fate. Your only safe haven is physical metal, preferably held be you. This is the time when precious metals will truly become a bubble, & comments that it is overvalued at this point in time are laughable. The investing world is still indoctrinated to believe precious metals are old school, but they are about to learn an old lesson. Gold has no counterparty risk, & when you own it, nobody else can lose it for you & in this environment that is a bloody good thing. There is a reason that central banks are accumulating gold in unprecedented amounts, they know the fiat currency experiment is over & they are desperately stockpiling to buffer their own currency against the fallout when it hits. Nobody will be interested in a fiat currency after this, but a currency that is gold backed will be far more attractive.



posted on Jul, 19 2012 @ 03:38 AM
link   
reply to post by CarpenterMatt
 


There is a reason that central banks are accumulating gold in unprecedented amounts, they know the fiat currency experiment is over & they are desperately stockpiling to buffer their own currency against the fallout when it hits.

Yep. They took our gold and gave us paper receipts for it. Now they own it all. When debts are paid between countries thru their banks, they don't pay each other with paper, they insist on gold. It is universal for all debts public and private. Tons of it change hands across continents all the time. But we get paper. Inflated paper.


Nobody will be interested in a fiat currency after this, but a currency that is gold backed will be far more attractive.

We have forgotten that. Metal coinage set up by the founding fathers was gold, silver, nickel, copper in one ounce slugs pure. The bankers through our government have stole it all back from our pockets. The history of that has been slow encroachment from alloying to paper to worthless coins and plastic cards. Pennies are copper coated zinc. Soon all transactions will be electronic and you better have some readily identifiable bits of gold and silver to barter with for basic food stuffs, ammo, clothing, shelter, etc. Otherwise you will be hungry.

Google "junk" silver coins.

www.google.com...



posted on Jul, 19 2012 @ 04:20 AM
link   

Originally posted by Wertdagf
reply to post by intrptr
 

Why is gold so valuable?

Does anyone ever ask themselves this question?

The simplest answer to that is, it is not. What is valuable is the food and other things you can buy with it when paper money is worthless. If you have a farm with eggs and corn for sale, the person with a bit of gold is going to eat, while the others will go hungry. Not every one has a farm or truck load of chickens, so you carry gold and you can barter for just about anything. It is universally accepted anywhere as currency. Now and for evermore. Plus it is smaller and less fragile than a dozen eggs. It "keeps" for when you need it.

People in old times used to wear "rope chains" of linked gold wrapped about their body for use as money in the market. When they bought something they would twist off a link or two and make a purchase. All merchants had "touch stones" and acid kits to determine purity. Watch out if you counterfeited!

Mel Fisher discovered numerous gold chains aboard the treasure shipwreck of the Atocha:


www.atocha1622.com...

Several extremely ornate chains, made of alternating straight and twisted Un/C design, were found on the Atocha and Santa Margarita. All the links in each chain are very uniform, and of a specific weight relating to the weight of gold escudo coins. Some historians suggest that these are “money chains", with each link easily removed to be “spent” when needed.

Now a days gold is used in circuitry for just about anything electronic, like computers and cell phones. Mining is constant but so is the ever increasing need for gold in civilized life. That is why the amount available stays pretty constant and "valuable". It is used as soon as it becomes available. As population and the need for it increases, then so will the value of gold increase as well. Add in a disaster (like 911) and the price jumps demonstrably. It will never come back down. In trying times people buy more as a hedge against "bad times". Like war in the middle east for instance. Or the collapse of the Euro, or Plague or God knows what. Each disaster in turn hikes the price. From now on, it is a good investment to keep up with inflation. The price will never come back below 911 levels. In fact the "experts" are saying it will go much higher.

They don't want you really knowing this, but the world turns on metal. Everything around you is either made of metal or made in factories made of metal. Terms like "junk" and "scrap" yard are misleading to get you think it is worthless. All the better for them. And at the helm are the big corporations and banks pulling the strings.

Not only gold but all metals. The price of all metals on the exchange follow gold. Except for anomalies. Like copper for instance, or Platinum. All precious metals are good investments but not all are as recognizable. The best increments are small and uniform amounts like pre 1964 US silver coins. They are easily recognizable, constant and small denominations to afford smaller purchases. You would be cutting a gold Krugerand in small pieces for buying small amounts of food, better to have a handful of silver coins.

"Junk" Silver Coins

These coins are available in small lots that can be purchased on the internet or any coin show. The most recognizable form of exacting weight and composition are pre 1964 US silver coins. Don't let the term "junk" put you off. It only means that they are degraded below the condition that collectors seek. So collectors call them that. They however are Genuine US silver coins and everyone who sees one can recognize that. Also harder to counterfeit.



posted on Jul, 19 2012 @ 10:13 AM
link   
reply to post by intrptr
 

I remember back in the seventies gold and silver were high, I think gold was in the eight hundreds and silver was in the low thirties. Within a short time silver dropped to one third it's value and gold dropped in half. Putting all your faith in gold is not good. investing in things with real value is better. Having a house that you can really afford is good, you have a home. A home doesn't have to be so nice it's unlivable, it needs to be a place to go to to feel secure. How can you feel secure if you owe your life to it. Diversity and family is the best way to weather a collapse of the Economy. A paid off home and the ability to grow your own food is the best security. I would never put all my faith in metals. I would never buy gold or silver at it's current price. If you buy silver bullion for thirty two dollars an ounce and try to sell it back to the seller the next day, you will be lucky to get eighty percent of the market price. I know how this works.



posted on Jul, 19 2012 @ 10:39 AM
link   

Originally posted by rickymouse
reply to post by intrptr
 

I remember back in the seventies gold and silver were high, I think gold was in the eight hundreds and silver was in the low thirties. Within a short time silver dropped to one third it's value and gold dropped in half. Putting all your faith in gold is not good. investing in things with real value is better. Having a house that you can really afford is good, you have a home. A home doesn't have to be so nice it's unlivable, it needs to be a place to go to to feel secure. How can you feel secure if you owe your life to it. Diversity and family is the best way to weather a collapse of the Economy. A paid off home and the ability to grow your own food is the best security. I would never put all my faith in metals. I would never buy gold or silver at it's current price. If you buy silver bullion for thirty two dollars an ounce and try to sell it back to the seller the next day, you will be lucky to get eighty percent of the market price. I know how this works.

Agreed. never put all your eggs in one basket. And land as well as guns and cows and a sowing machine, etc., are as valuable if not more. I am not talking about "normal" times, but the "big flush", right? A person or family cannot have everything they need, thats why they keep a bit of precious metal as well.

The idea is not to buy it and sell it like stock (which you can do by the way), but to OWN it like you do a homestead. Just a little bit to barter with others for what you don't have and can't make.

BTW, that 800 dollar gold you didn't buy in the 70's? Well its doubled now. Like I was saying, diversify. You aren't buying silver or gold to make money, but to save "for a rainy day". Thats the difference.

If you ere have to evacuate, the gold is portable. The land will have to remain behind. Google refugees.

edit on 19-7-2012 by intrptr because: additional...



posted on Jul, 19 2012 @ 10:50 AM
link   
reply to post by intrptr
 


Taking into consideration inflation, and not the fake rates that the government is trying to push, that eight hundred dollar gold from the seventies would equate to a loss now if it was cashed in.
Maybe the four hundred dollar an ounce after the crash would come out to profiting about five percent compounded over those years.



posted on Jul, 19 2012 @ 10:52 AM
link   
seems like the fed wants more collateral to grease the books with to me. if suddenly they can hedge on twice as much gold (in value) they can loan more fake money to the banks and people as debt. the big banks and the fed do not want anything with a limit, they wish to print their wealth out of thin air with no real assets backing them and no ceiling to be found.

i am a firm believer that the elite wealthy bankers are trying to tank the system through debt and wish to come after the ruble settles and create one world bank and currency. this way they will have absolute power and can behave totally unregulated. they will in essence, own us all outright and up front.



posted on Jul, 19 2012 @ 03:34 PM
link   

Originally posted by rickymouse
reply to post by intrptr
 


Taking into consideration inflation, and not the fake rates that the government is trying to push, that eight hundred dollar gold from the seventies would equate to a loss now if it was cashed in.
Maybe the four hundred dollar an ounce after the crash would come out to profiting about five percent compounded over those years.

Well okay, except that paper inflation you talk about is progressive. The past is a slow build to the faster future crash of that house of cards. You are debating that on ATS? I thought the failure of the system was foremost in everyones mind. How to prepare and all... Cashing out? To what? Barbie dolls? Matchbox cars? What is a better collectible against hard times that is compact, lasts forever and is universally accepted?

Just try and look at it like this. in 2001 (before 911) gold was 600 an ounce. Now? Okay, so theres that. The price of food in that time has quadrupled, same with gas. Thats your "hedge" (if you understand the word). Gold is like your homestead, your livestock and your gun. You don't sell it or "cash out". You keep it. You don't always need it but when you do...

What do you think the next 911 will do to the price... lower it? How about another market crash? Paper goes down... gold goes up. I get the feeling thought that thousands of years of history matter little in this conversation.

Gold has always been highly valued. The egyptians had so much they buried their pharaohs in it. Tut's tomb contained 7 tons of gold. That was 5000 years ago. Tell me about the value of gold .



posted on Jul, 19 2012 @ 05:29 PM
link   
reply to post by intrptr
 


I won't argue that gold has always had value. If the monetary system of the country collapses then paper money will have no value. Even if gold drops by ninety percent an ounce will still buy ten bushels of potatoes. This is true. I believe in owning some gold but we never had the extra money to buy it when it was cheaper and coming from a family where my stepfather recycled metals I know "buy cheap and sell high" If you get it cheap and it goes up then collapses then you have gained or lost nothing. It's too late for me to buy it now. I could go look for some float copper if I get motivated up in the copper country. That's good exercise.

People have made gold valuable and it may be the longest lasting conditioning that ever was. Some people will always be attracted to gold. I personally do not care for the color of gold, I like copper color better. Copper oxide is great for strawberries also and all gold is good for is growing mustard plants. I like strawberries better than mustard.
For security it is good to have some precious metals but it also makes you a target if you pay for things with gold in the event of a collapse of the economy. I just want to get my home paid off in the next few years and enjoy a simple life growing potatoes and fishing. I may even take up hunting again in the future if I can't get organic beef from for a reasonable price..



posted on Jul, 19 2012 @ 05:34 PM
link   

Originally posted by stirling
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)


Exactly. What would happen to the silver? It would definitely climb before it being tossed into the mix.



posted on Jul, 19 2012 @ 06:15 PM
link   


Warren Buffett concludes that gold is only as valuable as what you can convince someone it's worth.


Same for stocks and many other investments. Speculation based on a person perceived value of it.



posted on Jul, 20 2012 @ 01:34 AM
link   

reply to post by rickymouse
 

Even if gold drops by ninety percent an ounce will still buy ten bushels of potatoes. This is true. I believe in owning some gold but we never had the extra money to buy it when it was cheaper and coming from a family where my stepfather recycled metals I know "buy cheap and sell high" If you get it cheap and it goes up then collapses then you have gained or lost nothing. It's too late for me to buy it now. I could go look for some float copper if I get motivated up in the copper country. That's good exercise.

All good points. I see that you are savvy about the subject. Sorry if my earlier remarks were condescending.


For security it is good to have some precious metals but it also makes you a target if you pay for things with gold in the event of a collapse of the economy. I just want to get my home paid off in the next few years and enjoy a simple life growing potatoes and fishing. I may even take up hunting again in the future if I can't get organic beef from for a reasonable price.

Yah the stuff is more expensive and harder to find these days. One way to accumulate some amount is to cruise fleamkts, estate sales and whatnot. Buy up all the silver plated cutlery and teakettles you can find. Gold plated jewelry like chains and earrings are cheap. It takes a while to gather enough but if you know where to look for it and recognize it you can build up a bit that will only appreciate in the long run. Plus plated jewelry and silverware are usually made of brass underneath, which is tin and copper.

Since the price of all metals follows gold and the rate of appreciation is climbing faster these years you could have a couple hundred pounds of refinery grade pots and pans and jewelry in a few years. If you know who to take that to and how to return the metal or barter for it at reduced "melt" prices, you are ahead. People don't realize that nowadays plated jewelry is a lot more valuable per pound than it used to be.

Copper piping used in plumbing is sweated with solder that is 40% silver. Car radiators are silver soldered. Computers and cell phones have circuit boards, the older the better. There are a lot of sources that most people don't know about. They think it's junk.

About targeting your gold? I think the thing that would most attract others to your homestead will be the smell of cooking. Thats the hardest thing to conceal. Drifts for miles. You can bury your gold. But a rifle shot can also give you away. I am envious of you. I live in a city without any means to get out and establish what you have going. You stay right there. Network with your community. You will need each other to exchange for goods and services. When the stuff hits the fan, you can read about what happened to everyone in the cities.

Hats off.



posted on Jul, 20 2012 @ 02:16 AM
link   

Originally posted by intrptr

Whats going to collapse is the paper money system. What is then going to be used for money is precious metals.


What's going to happen is they will collapse the paper money system.
Right now, they are trying to conjure a way to collapse the precious metal value, which will leave us with the human "labor-value" system...Slavery...basically.
No one will have any physical tangible money.
We will all have "accounts" and "credits".
Just think...No more identity theft! (sarcasm)
We will have the earnings from our labors direct deposited into our account and go to market and "swipe" our bar code.( I will leave THAT open to interpretation)
Precious metals will always have value...but only on the black market...Trading in your physical precious metals will be akin to selling crack.
I literally live on a gold mine... I have gold all over my property. But I am not fooling myself for a moment thinking I will be able to freely exchange my nuggets for bread, when that sad time comes.
Now is the time to be building your barter networks.
edit on 20-7-2012 by Elostone because: punctuatin


edit on 20-7-2012 by Elostone because: (no reason given)



posted on Jul, 20 2012 @ 04:12 AM
link   

Originally posted by Elostone

Originally posted by intrptr

Whats going to collapse is the paper money system. What is then going to be used for money is precious metals.


What's going to happen is they will collapse the paper money system.
Right now, they are trying to conjure a way to collapse the precious metal value, which will leave us with the human "labor-value" system...Slavery...basically.
No one will have any physical tangible money.
We will all have "accounts" and "credits".
Just think...No more identity theft! (sarcasm)
We will have the earnings from our labors direct deposited into our account and go to market and "swipe" our bar code.( I will leave THAT open to interpretation)
Precious metals will always have value...but only on the black market...Trading in your physical precious metals will be akin to selling crack.
I literally live on a gold mine... I have gold all over my property. But I am not fooling myself for a moment thinking I will be able to freely exchange my nuggets for bread, when that sad time comes.
Now is the time to be building your barter networks.

You got nuggets just laying around huh? Where do you live again?
Those are tangible alright. And very tradable. I'm green.

Yah, the scumbag bankers broke the system a long time ago when they formed the Federal Reserve, took us off the gold standard and implemented permanent, progressive income tax. Instead of just 10 percent in times of war. Limited Government, right. Of, by and for who?

Reduced to black market barter is the way it is supposed to be. Free trade amongst private citizens without middle man bankers and money grubbing government sticking their noses in your business. They've made that a crime... they are the criminals.



posted on Jul, 20 2012 @ 05:00 AM
link   
this article from yesterday (thursday the 19th july)


The entire subject of gold being mobilized in the developed world's monetary system is now firmly center stage as commentary on re-defining gold from a Tier II asset to a Tier I asset has been called for by the Fed in the U.S. and at the same time is being proposed to the Basel III Committee on monetary reform. If it is so re-defined this will mean that 100% of its value can be attributed to a bank's balance sheet as required assets from the current 50%. Why is this so important to gold investors? If commercial banks can now hold gold in this way then it will act [to quote Herr Weber ex-Bundesbank President] "as a counter to the swings of the dollar".



the link is: www.marketoracle.co.uk...



It seems that BASEL III is the real driving force to make gold a Tier 1 asset... the USA Federal Reserve is dragging it's feet because the present gold price is too high for the primary dealer banks to accumulate gold bullion---
Plus the fact that the USA paper gold needs to be unwound of all it's fraudulent accounting that has something near 20k tonnes of paper gold but less than 1k tonnes of physical bullion


Basel III will recommend gold as a Tier 1 assett this coming January 2013


With the Basel Committee proposing that January 1st be the date of its re-definition [this can of course be changed] we would define this moment as the most significant step in the re-monetization of gold seen since it was written out of the global monetary system back in 1971.



With every nation's monetary system based on the model forged by the U.S. and reliant on it as the world's sole reserve currency [at the moment] what happens in the discussions on gold at Basel III and in the U.S. will dictate the way forward for gold and consequently silver.


who knows just when Bernanke & the rest of the banker cartel (on this side of the Atlantic) will join the rest of the world in replacing the USD as the world reserve currency & petro-dollar with the real asset of physical Gold bullion


look around the www.321gold.com site and locate the article about the USD getting eased out of full sprectrum global dominance


edit on 20-7-2012 by St Udio because: (no reason given)

edit on 20-7-2012 by St Udio because: (no reason given)



posted on Jul, 20 2012 @ 05:28 AM
link   

Still, it is significant that the U.S. is proposing to reclassify gold bullion as a zero-risk asset, as early as January 1, 2013. This means that gold bullion will join the very short list of assets considered zero-risk by the Federal Reserve: U.S. Treasuries; the U.S. dollar; and assets and/or claims with the International Monetary Fund.



Gold bugs should not be too happy about this. In reality, US Treasuries and US dollar are worthless because of the endless printing of US dollar which is now more than $16 Trillion debt.

It's obvious that government around the world are toying with people thru fiat currency bank ponzi schemes.

Gold, silver, wheat, barley, salt, dates and rice are the true real money and exchangeable assets as explained in the Quran.



posted on Aug, 13 2012 @ 01:25 PM
link   

Originally posted by MDDoxs
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)


Though gold does have uses in electronics and maintains it's value as opposed to the fiat currency that loses 5% annually in deflation! Also the way gold prices have been manipulated to make it look like a bad investment so as not to create a paniced public opting out of the dollar! Just for those reasons is worth investing in but only in physical gold and not futures! Though the problem with these precious metals is when the economy does eventually collapse the only thing that will be worth value is necessities!
PS: i don't trust anything Warren Buffet says!



posted on Aug, 13 2012 @ 01:34 PM
link   
reply to post by Wertdagf
 

I've pondered this quite a lot and decided that is must have been/still is of use when travelling through the cosmos - spaceship components or something, our obsession with it doesn't make sense, it's pretty useless stuff really.



new topics

top topics



 
14
<< 1    3 >>

log in

join