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Gold getting KILLED!


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2022 Jul 20, 6:54pm   27,826 views  203 comments

by stereotomy   ➕follow (0)   💰tip   ignore  

Now that iTulip is officially defunct, I thought I'd resurrect MEGA's (Malcolm) thread over there and transplant it here. Apologies in advance to @Patrick.

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153   Patrick   2023 Sep 30, 9:33pm  

"If it were so bad in the US you would have left, but no, you will stay here until your last breath (and bitch and complain)."

That's definitely a personal insult, not about anything but the person.
154   AD   2023 Sep 30, 9:35pm  

PeopleUnited says

Most of our debt is owed to Americans not foreigners. There is no reason to hyperinflate, so the concern is basically ludicrous.


Yeah from what I've read such as on Statista about 22% of total US federal debt is owned by foreigners.

Its all about debt service and solvency. How much can it be sustained in regards to tax receipts and expenditures, or cash flow.

If debt service is problematic then I think they'll raises taxes. They also may cut back on Social Security payments for those in the upper tax brackets.

/
155   AD   2023 Sep 30, 9:42pm  

richwicks says


The metrics for a "good economy" that the US defines, the United States defines, is GDP, which is just monetary churn. If a drone plane cost a billion dollars to make and sell, that's better than an ENTIRELY EQUIVALENT drone made in China for $100.

GDP is just another form of propaganda. It's not an actual measurement.


Very true as RFK stated this when he was running for President. GDP is just one way to examine debt such as debt to GDP ratio. A better way is debt payment as a percentage of total federal budget.

Also GDP is helpful as far as tracking defense spending:
https://www.statista.com/statistics/217581/outlays-for-defense-and-forecast-in-the-us-as-a-percentage-of-the-gdp/

But I like to examine quality of life or standard of living metrics as far as measuring the socieoeconomic progress. Percentage that own a home, percentage that are college educated, average life span, household debt versus annual income, household savings rate, median household savings, crime rate, number of libraries and museums, etc
.
156   AD   2023 Sep 30, 9:43pm  

richwicks says

My cousin abandoned this country for Argentina,


Argentina has been in economic doldrums for at least 20 years
157   richwicks   2023 Sep 30, 10:50pm  

ad says

richwicks says


My cousin abandoned this country for Argentina,


Argentina has been in economic doldrums for at least 20 years


Yes, I know. It's advantageous to go to 3rd world nations when when you have a 1st world income. He's basically retired.
158   just_passing_through   2023 Oct 1, 12:32pm  

Patrick says

Pretty sure it's illegal to use tobacco for barter, but then if SHTF the ATF is not going to be in business either.


I'm going to add some seeds to my SHTF stash. Also grow some for fun; seeing yours motivated me.
159   stereotomy   2023 Oct 13, 7:42am  

Well, now that WWIII can break out along two separate fronts, I guess gold is getting some more love.

160   NuttBoxer   2023 Oct 13, 8:53am  

It's a safe haven, will always go up in a crises. And those just seem to be increasing daily.
161   stereotomy   2023 Oct 18, 8:31am  

^^^
True that - gold bouncing between 1920-1950.
162   stereotomy   2023 Oct 18, 10:17am  

I think I can, I think I can . . . Choo Choo!


163   NuttBoxer   2023 Nov 1, 9:34pm  

Gold buying by central banks is 800 tons for the year.
https://finance.yahoo.com/news/central-bank-gold-binge-even-060000811.html
164   HeadSet   2023 Nov 2, 7:17am  

NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!
165   Misc   2023 Nov 2, 7:35am  

With what did they buy this gold with?

Oh, the paper currency they issued.
166   NuttBoxer   2023 Nov 8, 6:11am  

That would be an anathema to the institution of central banking. More likely their hedging their bets if the digital slave currency doesn't take right away, as another means to force it's adoption. Back it with gold, then pull the rug out. Also possible they're so arrogant they think that will help them weather the storm of a collapse. It won't...
167   NuttBoxer   2023 Nov 8, 6:13am  

Still buying, highest purchase rate is in Q3 of this year. Regardless of their reasons, one more indicator the economy is headed for a bad place:

https://www.zerohedge.com/markets/central-bank-gold-buying-continued-unabated-september
168   RayAmerica   2023 Nov 8, 8:59am  

HeadSet says

NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!


That's not the case in the slightest. The central banks are privately owned conglomerates that are also the biggest con artists in history. They know what is coming; a collapse of fiat currencies, so they are converting their soon to be worthless paper into hard assets, such as gold.
169   AD   2023 Nov 8, 9:34am  

RayAmerica says

they are converting their soon to be worthless paper into hard assets, such as gold.


collapse of paper is collapse of society and the same powers-to-be do not want a collapse of society

they may let society's poor and working class suffer some, such as with inflation, but they want to maintain control even with society's standard of living degrading closer to 3rd world conditions

gold and silver are a good hedge as far as devaluation of currency unless there are competitors like crypto ... I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

.
170   HeadSet   2023 Nov 8, 10:29am  

RayAmerica says


HeadSet says


NuttBoxer says

Gold buying by central banks is 800 tons for the year.

Cool! Looks like they are transitioning to a gold back currency!


That's not the case in the slightest. The central banks are privately owned conglomerates that are also the biggest con artists in history. They know what is coming; a collapse of fiat currencies, so they are converting their soon to be worthless paper into hard assets, such as gold.


That quip "Cool! Looks like they are transitioning to a gold back currency!" was a joke, The last thing a central bank wants is an asset backed currency, as that would strip the central bank of its power.
171   NuttBoxer   2023 Nov 8, 1:26pm  

Ahh, the subtleties of online speech..
172   AmericanKulak   2023 Nov 19, 11:01pm  

Can't believe Gold hasn't gone way higher.
173   Onvacation   2023 Nov 21, 11:27am  

ad says

.. I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

Agreed! But they're not making any more bitcoin. Gold and silver can just be dug out of the ground.
174   stereotomy   2023 Dec 1, 12:29pm  

Off to the races . .


175   stereotomy   2023 Dec 3, 6:08pm  

Holy shit!


176   just_passing_through   2023 Dec 3, 6:35pm  

Someone(s) are thinking the printing presses are soon to be fired up again.
177   NuttBoxer   2023 Dec 3, 7:18pm  

December's usually pretty dead for serious movement. Stocks do well so CEO's can get their bonus's early next year.
179   NuttBoxer   2023 Dec 15, 6:14pm  

Chinese know what American's will learn the hard way. Never trust your governments paper currency...
https://asia.nikkei.com/Business/Markets/Commodities/Chinese-pay-premium-prices-for-gold-as-economic-outlook-dims
180   AD   2024 Jan 8, 10:14pm  

.

1 kilo of gold is worth about $66,000



.
181   NuttBoxer   2024 Jan 13, 8:04am  

Texas latest state moving back to real money:

https://www.zerohedge.com/markets/texas-gop-moves-support-gold
183   UkraineIsTotallyFucked   2024 Mar 8, 9:03pm  

Tons of the stuff is being bought and physically transferred to Shanghai. The world' largest gold exchange is there.
184   stereotomy   2024 Mar 21, 1:43am  

Fed Chair Powell is my hero - all that bullshit is great for gold. Pretty soon we'll have gold at $2500, gas at $10/gallon, and $15 for a gallon of milk.


185   Robert Sproul   2024 Mar 21, 7:46am  

AD says

... I think a lot of money that would have gone to precious metals have gone to established crypto coins like bitcon ...

One reason to wonder if Bitcoin is some kind of Gov Op.
186   UkraineIsTotallyFucked   2024 Mar 21, 8:43am  

stereotomy says

gas at $10/gallon, and $15 for a gallon of milk.


Really? We pay for those things in gold?
187   UkraineIsTotallyFucked   2024 Mar 21, 8:45am  

NuttBoxer says

Texas latest state moving back to real money:

https://www.zerohedge.com/markets/texas-gop-moves-support-gold


Did you read the article? First paragraph states the proposition is not legally binding.
188   richwicks   2024 Mar 21, 9:50am  

UkraineIsTotallyFucked says


Did you read the article? First paragraph states the proposition is not legally binding.


Most of what Zerohedge is "misleading" at best. I long ago abandoned the site since 90% of it is just garbage. Used to piss me off when they'd post a chart with NOTHING labeling the X or Y axis and the "article" was "this chart needs no explanation" and nobody could tell me what it was.
189   NuttBoxer   2024 Mar 21, 10:45am  

Some have speculated it was created by the NSA who released an interesting study on digital coin sometime before bitcoin was created. No solid proof, but an interesting theory..
190   Onvacation   2024 Apr 3, 9:48am  

Long Term Trends in Precious Metals
Gold, Up and up and up compared to fiat. Notice the flatline before 1971. Also notice the little bump at the beginning of the chart, that's when FDR federalized gold and made it illegal to own. The late 1970's runup coincided with the Hunt Bro's silver fiasco.


Now silver. Notice the little bump up in the mid 1960's when we took silver completely out of our coinage. (Anyone know what "40% silver" coins are?) Then the big peak in 1980 when the Hunt Brothers tried to "corner the market", "https://www.washingtonpost.com/archive/business/1980/04/27/hunt-brothers-thrill-ride-in-silver-takes-us-close-to-disaster/505507ce-a75b-407b-a407-0ed12cb35a5a/
before the SEC, CFTC, and the Fed shut them down. Also notice the "Iwog peak" in 2011 where a couple of market timers cashed out at just the right time. IMO silver has nowhere to go but up.


191   RayAmerica   2024 Apr 3, 10:16am  

Mark Dice Trying To Trade 1 oz Gold Coin (worth $1800 at the time of the video) for Worthless Random Stuff

https://www.youtube.com/watch?v=D_x8VswuLwU
192   NuttBoxer   2024 Apr 4, 9:20am  

Onvacation says

FDR federalized gold and made it illegal to own.


That's an exaggeration, was never illegal.

Onvacation says

Now silver.


Not sure there's data, but would rather see this go back to the 1870's when silver standard was removed. Everything else significant in our financial history is pinned to this one moment.

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