Gold Advances to Record as Platinum Climbs

Gold Advances to Record as Platinum Climbs

finance.yahoo.com

Gold climbed to a record above $1,890 an ounce in London and New York as concern about slowing economic growth and debt crises spurred demand for bullion as a protection of wealth. Platinum gained to a three-year high.

German Chancellor Angela Merkel attempted to shut the door on common euro-area bonds as a means to solve the debt crisis, saying she won’t let financial markets dictate policy. The Federal Reserve holds its annual symposium in Jackson Hole, Wyoming, this week, amid speculation it may signal a third round of asset purchases to boost the faltering recovery.

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Gold is not a safe haven, as far as I'm concerned. Heed this warning.

The banking cartel has used gold to steal the wealth from countless generations. They are stealing it from Libya, along with it's other natural resources including oil.

Once the price has reached its peak, they will crumble the market, pulling out long before to ensure ridiculous returns. They will then leave us holding the bag, struggling to sell our precious metals for food, asking for 1/100th the price we paid for it. No one is going to want gold, they are going to laugh at you when you enter a broker and try to sell it for $1,900 an ounce.

I have speculated, backed by facts and research, in this thread if you care to delve deeper.

www.abovetopsecret.com...

Please, understand that Gold is not a miracle that will save you from poverty. It is lining the chains that are shackled to the debt slaves.

Just because your bank account is positive, doesn't mean you have wealth. Look at your mortgage, your car note, your bills. The greatest illusion the moneychangers ever constructed was the illusion that you are not a debt slave.

Tally up your finances, and if it doesn't have a negative, consider yourself lucky. A credit card is slavery in disguise.

If you do not 100% own it, you can not count it as real wealth.

finance.yahoo.com
(visit the link for the full news article)

While I don't agree entirely with what you are saying, you are 100% correct gold is NOT a safe buy for the long term. It certainly will not be worth $1890/ounce if SHTF. Eventually like everything it will crash back to a normal level and start the process over again.

Originally posted by sbctinfantry


Gold is not a safe haven, as far as I'm concerned. Heed this warning.

Once the price has reached its peak, they will crumble the market, pulling out long before to ensure ridiculous returns. They will then leave us holding the bag, struggling to sell our precious metals for food, asking for 1/100th the price we paid for it. No one is going to want gold, they are going to laugh at you when you enter a broker and try to sell it for $1,900 an ounce.

I've been feeling the same thing for awhile now. Today I'm sick to see I could have bought back at $1,300 and STILL made a profit, but that is short term. As it sits now, everyone who has had money to buy it with has gold and is set to come out pretty well if everything crashes to the ground. Uhhh?

Following your line of thought, it has never been logical that the system is allowed to carry on and eventually dump with SO many average folk in a position to gain serious wealth....when the whole apparent point is just the opposite. I think you're right about some tragic twist before the crash that makes gold much much less a cushion or hedge than millions of average folk believe it is.

This sure won't do anything for domestic peace and tranquility when the time comes and that little truth becomes plain for all to see....right AFTER knowing it would have been helpful

reply to post by sbctinfantry


Starred. Excellent post!!!!!

reply to post by sbctinfantry


Gold - you can't eat it, drive it, drink it or breath it when everyone else is just trying to stay alive. The best commodity to hold is knowledge - how to grow food, how to detoxify the ground and water so you can grow food, how to make alcohol, how to manage domestic animals, how to make effective but non-complex weapons and how to handle yourself in close combat situations, etc.

You might be able to trade gold at some point but in the initial scenario after SHTF, I doubt gold would be worth squat. But if you can trade it, the people you'll be trading with will have all of the above and will give you next to nothing or a bullet.

Best thing you can do is ignore the game, bring it all down on the banksters and then let's have some real entertainment like back in the days of the French Revolution ;-)

Cheers - Dave

started following gold when it was $325 an ounce

back then i knew gold was where it was going to be at and look at it now.

but make no mistake gold is the next bubble stay away from it now if you were already in it.

im just wanting to see the bubble burst and the gvoernments come in to bail out the gold market.

did it for savings and loans
did it for insurance
did it for home mortgages.

next up gold!.