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Joined: Jun 2003
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Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2003
Posts: 10,597 Likes: 1 |
Who is imposing these price caps? The banking/government cartel. One big way they manipulate it is to increase the number of unbacked paper contracts for gold that are introduced to the market. If the natural price gets too high, they dump unbacked gold contracts for sale onto the market, which creates the impression to the market that, suddenly, gold is far more plentiful on the market than it actually is. Same for silver. What can defeat this strategy is real physical demand, such as from national banks (who only want verifiable physical bars), and from increases in popular demand for physical gold and silver throughout the world, due to a sense that financial and monetary disaster is on the horizon. Most of the gold market is paper gold. It ain’t really there. We may get a replay of 1933 when folks want their physical gold.
Paper gold is what keeps the price down. It should be worth multiples of what it is now.
Personally I think junk silver is the way to go. It’s underpriced and readily accepted. Let me get this straight. There is this big conspiracy that everybody knows about that is mind-tricking everyone to think that gold is plentiful by selling paper gold, thereby artificially keeping the price down across the board, all the while counting on the fact that a lot of people are stupid and don't actually want physical gold in their possession. If that were true, wouldn't all the "informed" people and the conspirators (including the central banks wanting their verifiable physical bars) be backing up the truck buying all the physical gold they could get their hands on, thereby lowering the supply held by the companies that supply physical gold, thereby raising the price of the now more scarce commodity? Wouldn't that, in turn, cause a run by the paper holders? (I guess the conspiracy needs to be mindful of that, act as a group, and only back up the compact sedan occasionally over a long period of time.) As for me, $2,200 is way more than I would pay for an ounce of real or paper gold. So, I fall on the "no demand" side of that equation without regard to the conspiracy. Enjoy!
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Joined: Dec 2013
Posts: 13,130 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,130 Likes: 7 |
Who is imposing these price caps? The banking/government cartel. One big way they manipulate it is to increase the number of unbacked paper contracts for gold that are introduced to the market. If the natural price gets too high, they dump unbacked gold contracts for sale onto the market, which creates the impression to the market that, suddenly, gold is far more plentiful on the market than it actually is. Same for silver. What can defeat this strategy is real physical demand, such as from national banks (who only want verifiable physical bars), and from increases in popular demand for physical gold and silver throughout the world, due to a sense that financial and monetary disaster is on the horizon. Most of the gold market is paper gold. It ain’t really there. We may get a replay of 1933 when folks want their physical gold.
Paper gold is what keeps the price down. It should be worth multiples of what it is now.
Personally I think junk silver is the way to go. It’s underpriced and readily accepted. Let me get this straight. There is this big conspiracy that everybody knows about that is mind-tricking everyone to think that gold is plentiful by selling paper gold, thereby artificially keeping the price down across the board, all the while counting on the fact that a lot of people are stupid and don't actually want physical gold in their possession. If that were true, wouldn't all the "informed" people and the conspirators (including the central banks wanting their verifiable physical bars) be backing up the truck buying all the physical gold they could get their hands on, thereby lowering the supply held by the companies that supply physical gold, thereby raising the price of the now more scarce commodity? Wouldn't that, in turn, cause a run by the paper holders? (I guess the conspiracy needs to be mindful of that, act as a group, and only back up the compact sedan occasionally over a long period of time.) As for me, $2,200 is way more than I would pay for an ounce of real or paper gold. So, I fall on the "no demand" side of that equation without regard to the conspiracy. Enjoy! Your scenario is essentially correct. When it comes to the nut cutting the use of gold will be outlawed just as it was in 1933. There is a huge amount of paper gold that has no gold backing it. Same thing came to a head in 1933 when there were 3X the gold certificates out than there was gold. You won’t find the big buyers holding paper. You will see.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Jun 2011
Posts: 3,780 Likes: 2
Campfire Tracker
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Campfire Tracker
Joined: Jun 2011
Posts: 3,780 Likes: 2 |
Got some gold so that is good news.
And quite a bit of junk silver that I'm hoping for the beach ball thing to kick in on.
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Joined: Dec 2011
Posts: 752 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Dec 2011
Posts: 752 Likes: 2 |
Got some gold so that is good news.
And quite a bit of junk silver that I'm hoping for the beach ball thing to kick in on. Absolutely, needless to say I have a lot more silver than gold. Would be nice to see silver back at $50 or more.
"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
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Joined: Nov 2002
Posts: 33,758 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 6 |
So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly.
Conduct is the best proof of character.
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Joined: Dec 2011
Posts: 752 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Dec 2011
Posts: 752 Likes: 2 |
So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly. For me personally it's no different than any other investment, stock market, guns, classic cars, or even baseball cards. Few years ago a good deal came along on some property and I cashed in some of my precious metals and did quite well. Doesn't take the place of my 401(k) just diversifies it. I'm not a hoarder, if it's up and I need cash I'll sell and if it's down and I have cash I'll buy.
"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
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Joined: Jun 2011
Posts: 1,597
Campfire Regular
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Campfire Regular
Joined: Jun 2011
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So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly. In the event of hyperinflation, few other assets would be as valuable.
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Joined: Nov 2002
Posts: 33,758 Likes: 6
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 6 |
So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly. In the event of hyperinflation, few other assets would be as valuable. Given what % of one's worth holding now?
Conduct is the best proof of character.
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Joined: Dec 2013
Posts: 44,524 Likes: 10
Campfire 'Bwana
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Campfire 'Bwana
Joined: Dec 2013
Posts: 44,524 Likes: 10 |
So what is one's intent in holding gold, particularly in the miniscule piece of ones portfolio when I have asked in the past? I am just ignorant on this, honestly. In the event of hyperinflation, few other assets would be as valuable. Given what % of one's worth holding now? I'm curious, too. The extent of my holdings and knowledge of precious metals involves only what we discuss the most here.
Slaves get what they need. Free men get what they want. Rehabilitation is way overrated. Orwell wasn't wrong. GOA member disappointed NRA member 24HCF SEARCH
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Joined: Jun 2003
Posts: 10,597 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Jun 2003
Posts: 10,597 Likes: 1 |
Your scenario is essentially correct. When it comes to the nut cutting the use of gold will be outlawed just as it was in 1933. There is a huge amount of paper gold that has no gold backing it. Same thing came to a head in 1933 when there were 3X the gold certificates out than there was gold. You won’t find the big buyers holding paper. You will see. I suspect that the little guy is a lot less likely to hold paper gold than the big dogs who deal in digital everything. (A cynical view, such as frequently found on this forum, would figure that the big dogs would get a bailout anyway. Right?) Then you threw in that the government will just make it a crime to own or possess gold. What are people going to do with their contraband gold in the meltdown? Use it to bribe their way into Mexico or Cuba? Paper gold may be a way to cheat suckers and make money for the people who broker it, but I don't believe that there is this massive conspiracy to run the price of gold down. But, people who believe this and aren't afraid to hold contraband gold should take this buying opportunity and convert every asset they own into cheap(er) gold while they can. I'm going to sit that opportunity out. If I'm wrong, oh well.
"Don't believe everything you see on the Internet" - Abraham Lincoln
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Joined: Jan 2011
Posts: 1,789
Campfire Regular
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Campfire Regular
Joined: Jan 2011
Posts: 1,789 |
Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.!
For those without thumbs, it's s Garden fookin Island, not Hawaii
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Joined: Nov 2019
Posts: 978
Campfire Regular
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Campfire Regular
Joined: Nov 2019
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You pay a % on the buy and sell. There is so little margin in dealing in gold coin or bullion that I did not order it for customers when we had our jewelry store. I would get charged a % over spot and would have to add a % to my sale price. I would rather buy scrap gold and I have bought a lot. I guarantee I will make way more on the sell than I ever could buying coin or bullion.
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Joined: Dec 2011
Posts: 752 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Dec 2011
Posts: 752 Likes: 2 |
Your scenario is essentially correct. When it comes to the nut cutting the use of gold will be outlawed just as it was in 1933. There is a huge amount of paper gold that has no gold backing it. Same thing came to a head in 1933 when there were 3X the gold certificates out than there was gold. You won’t find the big buyers holding paper. You will see. I suspect that the little guy is a lot less likely to hold paper gold than the big dogs who deal in digital everything. (A cynical view, such as frequently found on this forum, would figure that the big dogs would get a bailout anyway. Right?) Then you threw in that the government will just make it a crime to own or possess gold. What are people going to do with their contraband gold in the meltdown? Use it to bribe their way into Mexico or Cuba? Paper gold may be a way to cheat suckers and make money for the people who broker it, but I don't believe that there is this massive conspiracy to run the price of gold down. But, people who believe this and aren't afraid to hold contraband gold should take this buying opportunity and convert every asset they own into cheap(er) gold while they can. I'm going to sit that opportunity out. If I'm wrong, oh well. Couple years old but pretty good explanation on gold manipulation https://www.numismaticnews.net/coin-market/is-golds-price-manipulated
"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
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Joined: Jun 2002
Posts: 131,822 Likes: 29
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,822 Likes: 29 |
Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.! I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold.
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Joined: Jun 2002
Posts: 131,822 Likes: 29
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 131,822 Likes: 29 |
Link doesn't work for me.
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Joined: Mar 2012
Posts: 5,660 Likes: 5
Campfire Tracker
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Campfire Tracker
Joined: Mar 2012
Posts: 5,660 Likes: 5 |
Today our Costco had 1oz gold bars for $2200
She never made it past the bedroom door, what was she aiming for...? She's gone shootin..
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Joined: Jan 2011
Posts: 1,789
Campfire Regular
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Campfire Regular
Joined: Jan 2011
Posts: 1,789 |
Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.! I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold. Gold was 1600 at the time, the gun is very nice, still own it, came with 180 rounds of lake city ammo. Reckon I'll keep it for awhile. Typically can buy gold here from a miner for 85% of spot, no fees.
For those without thumbs, it's s Garden fookin Island, not Hawaii
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Joined: Oct 2009
Posts: 7,702 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2009
Posts: 7,702 Likes: 1 |
Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.! I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold. Gold was 1600 at the time, the gun is very nice, still own it, came with 180 rounds of lake city ammo. Reckon I'll keep it for awhile. Typically can buy gold here from a miner for 85% of spot, no fees. Good way to buy it John because when you refine it some of the weight will reduce because of impurities, when you go to sell or trade it refined or still in nugget form then you will have to haggle price. Norm
There is not enough darkness in all the world to put out the light of even one small candle----Robert Alden . If it wern't entertaining, I wouldn't keep coming back.------the BigSky
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Joined: Sep 2008
Posts: 5,737
Campfire Tracker
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Campfire Tracker
Joined: Sep 2008
Posts: 5,737 |
The US dollar is at a new low on the Gold Standard.
"Camping places fix themselves in your mind as if you had spent long periods of your life in them. You will remember a curve of your wagon track in the grass of the plain like the features of a friend." Isak Dinesen
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Joined: Nov 2019
Posts: 978
Campfire Regular
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Campfire Regular
Joined: Nov 2019
Posts: 978 |
Dang. That's pretty high, I hope the Garand I traded an ounce for a couple of year's ago is worth 2K, kinda doubt it.
But at least I have a Garand.! I'm in the same boat. When it was 1k per oz, I bought my neighbor's shotgun with some one-tenth oz coins. Sure wish I hadn't, now. That shotgun is long gone, and I'd much rather I still had the gold. Gold was 1600 at the time, the gun is very nice, still own it, came with 180 rounds of lake city ammo. Reckon I'll keep it for awhile. Typically can buy gold here from a miner for 85% of spot, no fees. In what form? Placer gold typically runs a average of about 70-90% of pure. I typically figured 78% when buying. If sending in for refining your return will be based on net weight of pure minus cost to refine. You are or were basically paying spot and some
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