Canada's Gold Reserves Are Just About Empty

originally posted by: yorkshirelad

Gold is irrelevant these days. It is only important in the minds of people locked into a post WWII mentality. The world has changed massively since then and we are now an interconnected world on a scale that was unimaginable post WWII. It is that global connectivity and trade that drives all economies not some ideological stance sitting behind a fence/wall surrounded by nukes and gold and a self serving highly inefficient economy (soviet union, east germany, albania etc etc pre 1970 !!! holy crap!)

Yeah, take the gold out of your cell phone, and computer. Then send us another post about how irrelevant gold is.

Better yet, send that post to the guys on the ISS. Tell them how useless gold is.

originally posted by: VictorVonDoom

originally posted by: yorkshirelad

Gold is irrelevant these days. It is only important in the minds of people locked into a post WWII mentality. The world has changed massively since then and we are now an interconnected world on a scale that was unimaginable post WWII. It is that global connectivity and trade that drives all economies not some ideological stance sitting behind a fence/wall surrounded by nukes and gold and a self serving highly inefficient economy (soviet union, east germany, albania etc etc pre 1970 !!! holy crap!)

Yeah, take the gold out of your cell phone, and computer. Then send us another post about how irrelevant gold is.

Better yet, send that post to the guys on the ISS. Tell them how useless gold is.

Yes Gold has a lot of industrial and commercial uses but it is massively overpriced due its use as an investment. If people stopped obsessing about the value of gold it would do a lot more good for the world economy being used as the rather useful metal it is.

Kind of not really relevant to the point Yorkshirelad was making however.

Haha ya sure golds not relevant..it has only increased in price by 300% in the last decade.

maybe I'm being naïve, but doesn't Canada have gold mines? which means they could produce more as needed?
might we say that Canada has a substantial gold reserve, just in the ground?

en.wikipedia.org...


www.mining.com...

"Canada achieved the record gold output in 2014 (160 tonnes, +29%) and jumped two positions up, from seventh to fifth place, surpassing South Africa for the first time."

a reply to: vonclod
How does that make it relavent?

originally posted by: VictorVonDoom

originally posted by: yorkshirelad

Gold is irrelevant these days. It is only important in the minds of people locked into a post WWII mentality. The world has changed massively since then and we are now an interconnected world on a scale that was unimaginable post WWII. It is that global connectivity and trade that drives all economies not some ideological stance sitting behind a fence/wall surrounded by nukes and gold and a self serving highly inefficient economy (soviet union, east germany, albania etc etc pre 1970 !!! holy crap!)

Yeah, take the gold out of your cell phone, and computer. Then send us another post about how irrelevant gold is.

Better yet, send that post to the guys on the ISS. Tell them how useless gold is.

It is especially valuable in space applications.

a reply to: ScepticScot

Because history shows it always has been relevant..especially in tough times, not much in the world has held it's value or increased and held such value. Call it a gut feeling as I'm not an economist.
Cheers

originally posted by: ScepticScot

Yes Gold has a lot of industrial and commercial uses but it is massively overpriced due its use as an investment. If people stopped obsessing about the value of gold it would do a lot more good for the world economy being used as the rather useful metal it is.

Kind of not really relevant to the point Yorkshirelad was making however.

I tend to think gold is under-priced at the moment, but that's another discussion for another time.

The point is, gold is a limited, fixed natural resource that is indispensable in modern and future technology applications. In comparison, fiat currencies are so plentiful that there is almost no natural resource that can keep up with them. We don't even have enough paper to print all the money that is supposed to exist in the world, so we just use numbers and pretend they have value.

It's not a matter of people obsessing over gold any more than it is a matter of obsessing over fresh water. You can trade your natural resources for fiat currency. But in the end, it's pretty much guaranteed that the fiat currency will be worth less in the future than it is today. Gold, like fresh water, will always be in demand. I'll take a one ounce gold coin over a $100 trillion Zimbabwe note any day.

Anyone that thinks gold is irrelevant should ask the Federal Reserve Bank why they stock so much of it.

a reply to: VictorVonDoom
The US government us the worlds biggest holder of gold. Despite that the total value if those gold reserves is less than 2% of GDP. From a national economy point of view gold is pretty irrelevant.
This is at a point of time when gold is performing extremely well.

a reply to: gmoneystunt

Canada is a gold reserve.... The land is chock full of gold, as are the northern oceans. I firmly believe Articles like this are presented to drive the price of gold up further. Especially when a nation has a dollar that is suffering. In the coming months expect to see the Canadian Dollar Rebound. I know the Canadian dollar is a "petro dollar," but E-trade has a huge impact on it's standing as well.

I would like to place a bid for the entire country of Canada for three hundred grand in US dollars.

What if the Anunnaki come back and finds out Canada doesn't have any gold for them?

Oh boy! I think you guys better brush up on your pick and shoveling!

As others have mentioned, the cheapest form of gold storage Canada has is right under our feet.

I'm not in huge favour of the gold sellout, however, it does make sense to use it to acquire liquid assets for the short-term benefit.

Our long-term economic leverage is right under our feet by way of vast natural reserves of gold, silver, nickel, copper, iron, potash, etc etc.

So I don't see this gold sell off as that big of a deal when looking at the bigger picture.

originally posted by: yorkshirelad

originally posted by: TrueBrit
a reply to: gmoneystunt

I am far from being an authority on matters financial, but when my government started selling off our gold, back in the Blair/Brown days of the New Labour government, it did not do us much by way of favours.

That's a comment without substance. Exactly what negative thing happened?

Gold is irrelevant these days. It is only important in the minds of people locked into a post WWII mentality. The world has changed massively since then and we are now an interconnected world on a scale that was unimaginable post WWII. It is that global connectivity and trade that drives all economies not some ideological stance sitting behind a fence/wall surrounded by nukes and gold and a self serving highly inefficient economy (soviet union, east germany, albania etc etc pre 1970 !!! holy crap!)

You might be surprised. Gold is very popular in Asia. More importantly in the realm of negative interest rates, where banks are authorized to incrementally confiscate your savings, hoarding cash or gold will become a crime. Why do you think they are trying to eliminate high denomination bills?

We can not allow the globalists to gain total control of our currency or to confiscate our precious metals again.

originally posted by: ElGoobero
maybe I'm being naïve, but doesn't Canada have gold mines? which means they could produce more as needed?
might we say that Canada has a substantial gold reserve, just in the ground?

en.wikipedia.org...


www.mining.com...

"Canada achieved the record gold output in 2014 (160 tonnes, +29%) and jumped two positions up, from seventh to fifth place, surpassing South Africa for the first time."

Finally,
Someone is actually thinking.

You are absolutley correct, Canada can produce more, and it will.

There is an aspect to question of how valuable gold really is, its far rarer than most people think.
All of the gold ever produced would make a cube roughly 250' on a side.
And I have somewhere that 90% of all of the available gold has been mined already.
The next round of gold wont come close enough to the surface to be reachable for another 250 to 300 million years.