Home Forums Hunting & Shooting Hunter's Campfire $5000 gold on the horizon?

http://www.youtube.com/watch?v=gU59IrBAGUo

Anybody with plans to pad their stockpiles?

Sure. I buy it whenever I'm holding too much cash.

Good grief.....not again!

If the so called experts knew it was going that high, they'd be buying everything they could get, and keeping their mouths SHUT until they could get it. All this will do is artificially push the price up.

There might well be something to what you say, but it cannot be argued that Obama's policies are not hugely inflationary, which means that the value of gold, as measured by US dollars, is only going in one direction for the foreseeable future, regardless of the current sticking point around a grand per ounce. That sticking point is what's artificial at this time.

Yep....merely another gold bug commercial. Big sellers manipulating the small time buyers.Same old, same old!

Compare that piece to this - and then come to somewhere in the middle - most likely outcome.


this

If the economy gets in the shape where gold goes up by a factor of 5 we won't be saying gold is worth $5,000 an ounce. The value of a dollar will be non existent and gold will be just gold or valued at some other good/service.

Until the government sets the price of gold at some artificially low number and requires all Americans to turn it in for that price.

Tod...Even if they did do that, there is no way they could enforce it.......the logistics of doing so would be insurmountable..

I agree that the guy on the video is in the selling end....nothing like trying to stimulate a market on fear or greed.

It's been done before.

From Wikipedia

Executive Order 6102 is an Executive Order signed on April 5, 1933 by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by U.S. citizens.

The Order required U.S. citizens to deliver on or before May 1, 1933 all but a small amount gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 per troy ounce. Under the Trading With the Enemy Act of October 6, 1917, as amended on March 9, 1933, violation of Executive Order 6102 was punishable by fine up to $10,000 ($166,640 if adjusted for inflation as of 2008) or up to ten years in prison, or both. The price of gold from the treasury for international transactions was thereafter raised to $35 an ounce; this had no lasting effect on the value of the dollar, which henceforth was determined by its value relative to other world currencies, and which had been "hyper-valued" by the severe deflation of the previous three years.

Bad money drove good money out of circulation, i.e., people horded gold and silver.

$3500 this leg.....Isaac isn't a believer, but that too will change.

Tony

Quit Bogarting that joint, Tony.

Whats up dude....

House is FINALLY done, closing is July 17. Can't wait to get out of Lake Manassas.

Neighbors are lucky it isn't deer season....I'd have one hanging in the front yard, just as a parting gift to the HOA.

BTW, I could use a lawyer with a stong back to help me move my bullion.....

Tony

I have an oil ETF and oil is going up on inflation speculation. All serious mutual funds are also speculating in oil because the dollar is crashing.

The only way that the dollar doesn't crash is if the Feds raise the over night rate to around 5% and the long bonds go to 25 to 30%. The odds of that happening is slim to none at all.

The other thing that will save the dollar and destroy the economy is the largest tax increase in history.

Look for 50% unemployment in the next 4 years if Obama has his way.

Tony;

Can you say "damage permit"? I thought you could....... and a fitting parting gift it would be.

Man, ton of deer in the development I am moving to. Had 15 in my front yard just before they start to build back in April.

Already got a few spots picked out for archery.

Tony

Look for 25% unemployment in the next 4 years no matter what.

I used to think gold. Now I'm buying guns and ammo.

China is going to US its treasuries to buy commodities, particularly oil. A couple of the Chinese oil companies and their proxies are planning on bidding on rights to develop the Iraq oil fields. Wouldn't it be ironic of the US fought in Iraq so that China could control their oil?

If China can get out from underneath the US debt they own, they won;t have as much incentive to keep buying treasuries. That could be ugly.

Happy to help you anytime.

Congrats on your new home. I know you've been waiting a good while to find the right place. You've finally made your wise investment.