My question is if a person has one ounce of gold in their pocket worth $2600 (or what ever), be in coin or bar form, how would they readily and practically break it down into smaller increments in order to use it to pay for, say, one gallon of gasoline, a loaf of bread, a pair of shoes, etc., etc.? Would you shave off tiny slivers of gold? Wouldn't you then also have to carry a pocket scale every where you went and constantly monitor for gold price fluctuations and adjust accordingly? Or would we have to resort back to some form of paper certificates and/or coinage in usable denominations?
I've put my some of my money in gold gold and black gold. I like my odds better than someone who doesn't.
You are using gold, in that instance, as a commodity for speculation. In that sense either oil or gold, or both, will serve just fine. Gold, however, is also money (and has been for six thousand years), while oil isn't. As money, it has advantages that oil does not.
That's right. Smart folks do as banks do, not as banks say. What they say is that gold is for chumps. What they do is buy it up as fast as they can get their greedy little hands on it.
That's right. Smart folks do as banks do, not as banks say. What they say is that gold is for chumps. What they do is buy it up as fast as they can get their greedy little hands on it.
Amen to that TRH
"Drop that or by the splendor of God I will blow your heart out." Kit Carson
"Make sure you are doing what God wants you to do then do it with all your strength." George Washington
That's right. Smart folks do as banks do, not as banks say. What they say is that gold is for chumps. What they do is buy it up as fast as they can get their greedy little hands on it.
I get the names mixed up but I think it was JP Morgan that closed out their short position after just one month after the April 2013 down turn... that THEY may have in fact manipulated. For the long haul it seems they are going long from what little I know.
How come Germany and Texas cannot lay their hands on their own gold?????
How come Germany and Texas cannot lay their hands on their own gold?????
Something fishy in Denmark
The obvious reason is that the werehousers of said gold have, in essence, sold the same gold to multiple purchasers in their efforts to keep its price, as measured in Federal Reserve Notes, from blowing through the roof, i.e., the receipts for it held by Texas and Germany aren't worth the paper they're printed on. Their requests that their gold be returned is likely the impetus for the price knock-down we've seen recently, i.e., it facilitates the big banks cheaply buying up the gold they owe in order to honor those receipts.
if the hypothesis you offer is true, it should have caused the price of gold to sky-rocket. no offense, but something is not kosher here, in that analysis.
if the hypothesis you offer is true, it should have caused the price of gold to sky-rocket. no offense, but something is not kosher here, in that analysis.
They sink the price by such tactics as dumping new paper claims to gold that doesn't exist, thus creating the appearance of a sudden supply glut, combined with putting out the word in the media that gold is crashing. This causes a panic sell off of paper claims to gold, crashing the price. Someone's buying all that sell off at bargain prices. It's the banks. They're masters of manipulation. Do as they do, not as they say.
I certainly hope it does...if so, I'll be able to retire in comfort. If the price just holds where it is, I'll do OK. I'm not counting on it...but if Ca. ever lifts the moratorium on suction dredging, I'll be in heaven on earth...
