12DrinkMore Posted June 19, 2011 Share Posted June 19, 2011 (edited) summary: even without the afore-mentioned facts taken into consideration your assumption "represent the health of the economy" is totally off the mark. I never assumed it did But with it being the "selection of the biggest and best" and backed by the Bernanke Put, buying into it is surely as "safe as houses"? Edited June 19, 2011 by 12DrinkMore Link to comment Share on other sites More sharing options...
Naam Posted June 19, 2011 Share Posted June 19, 2011 summary: even without the afore-mentioned facts taken into consideration your assumption "represent the health of the economy" is totally off the mark. I never assumed it did But with it being the "selection of the biggest and best" and backed by the Bernanke Put, buying into it is surely as "safe as houses"? "surely" you just made a combined "high cube" statement, right? Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 19, 2011 Share Posted June 19, 2011 "surely" you just made a combined "high cube" statement, right? Yes, I have to thank you for expanding that area of my vocabulary, previously severely lacking in the area of High Cubes, which is a misnomer as they are rectangular cuboids. Link to comment Share on other sites More sharing options...
Naam Posted June 19, 2011 Share Posted June 19, 2011 dear shipping companies, you are hereby kindly requested to replace the misnomer "High Cube" with "Rectangular Cuboid". Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Author Share Posted June 20, 2011 Turk - Confidence in Fiat Currencies is Beginning to Collapse http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/6/20_Turk_-_Confidence_in_Fiat_Currencies_is_Beginning_to_Collapse.html Anybody disagree ( lannarebirth perhaps ) and if so Why ? Link to comment Share on other sites More sharing options...
cloudhopper Posted June 20, 2011 Share Posted June 20, 2011 Turk - Confidence in Fiat Currencies is Beginning to Collapse http://kingworldnews...o_Collapse.html Anybody disagree ( lannarebirth perhaps ) and if so Why ? OK maybe it's beginning. But there has been far greater confidence placed in the ability to repay various debt instruments which being "assets" serve as stores of wealth and created in amounts FAR exceeding the fiat it is denominated in. The collapse of those "assets" will suck fiat out of the economy like a fire sucks oxygen out of a room. And if that happens cash will be far more useful than gold. Link to comment Share on other sites More sharing options...
Naam Posted June 20, 2011 Share Posted June 20, 2011 OK maybe it's beginning. But there has been far greater confidence placed in the ability to repay various debt instruments which being "assets" serve as stores of wealth and created in amounts FAR exceeding the fiat it is denominated in. The collapse of those "assets" will suck fiat out of the economy like a fire sucks oxygen out of a room. And if that happens cash will be far more useful than gold. probably a valid point. but then cash in the bank might not be safe and "physical" cash stored under the mattress is neither exactly safe. Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Author Share Posted June 20, 2011 'The collapse of those "assets" will suck fiat out of the economy like a fire sucks oxygen out of a room' and then would you rather hold a $ bill or a gold or silver coin ? Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Author Share Posted June 20, 2011 (edited) Gold Rises To New Record In GBP - Close to Near Record Highs In Euros And Most Currencies On Global Debt Contagion Risk ...... but SShh !! http://www.zerohedge.com/article/gold-rises-new-record-gbp-close-near-record-highs-euros-and-most-currencies-global-debt-cont Edited June 20, 2011 by churchill Link to comment Share on other sites More sharing options...
Naam Posted June 20, 2011 Share Posted June 20, 2011 and then would you rather hold a $ bill or a gold or silver coin ? gold or silver coins would be course much more handy because shops, restaurants and whoever sell goods or provides services would have adequate gold and silver denominations as change. "you say the replacement of the broken heater in the master bathroom is 17/64th of an ounce gold for the heater, 3/32nds for electrical and 5/32nds for plumbing services, correct? here's half an ounce of gold for you Khun Electrician and here some silver ounces for you Khun Plumber. shall we sit down and work out the change?" "Mademoiselle Carrefour s'il vous plaît... how much in fine silver is a kilo of this cauliflower, that bunch of horseradish and how many grams of gold are you asking for this imported NZ lamb shoulder? by the way, do you prefer Eagles or Krügerrands... or are perhaps these nuggets more handy?" Link to comment Share on other sites More sharing options...
cloudhopper Posted June 20, 2011 Share Posted June 20, 2011 (edited) 'The collapse of those "assets" will suck fiat out of the economy like a fire sucks oxygen out of a room' and then would you rather hold a $ bill or a gold or silver coin ? Cash for sure in a deflationary burst. Physical cash because the banks and ATMs will run out faster than more can be printed. Look every time someone charges a bottle of mineral water at the 7-11 on their credit card or someone gets a loan for a car an "asset" tradable for cash has been created out of thin air just as surely as any fiat. The faith that those debts can be repaid is collapsing far faster than the faith in the underlying fiat they are denominated in. Edited June 20, 2011 by cloudhopper Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Author Share Posted June 20, 2011 and then would you rather hold a $ bill or a gold or silver coin ? gold or silver coins would be course much more handy because shops, restaurants and whoever sell goods or provides services would have adequate gold and silver denominations as change. "you say the replacement of the broken heater in the master bathroom is 17/64th of an ounce gold for the heater, 3/32nds for electrical and 5/32nds for plumbing services, correct? here's half an ounce of gold for you Khun Electrician and here some silver ounces for you Khun Plumber. shall we sit down and work out the change?" "Mademoiselle Carrefour s'il vous plaît... how much in fine silver is a kilo of this cauliflower, that bunch of horseradish and how many grams of gold are you asking for this imported NZ lamb shoulder? by the way, do you prefer Eagles or Krügerrands... or are perhaps these nuggets more handy?" Again Naam you are not looking to the future but here and now ....... It is about exchange .. perhaps a chicken for a basket of vegetables .. Silver and gold , I think , if there is a break down I hope it never happens but- would still be seen as a store of value .. and that is why when debts are going up to silly levels - we need to think about the future not today ... The Most IMPORTANT Video You'll Ever See (part 1 of 8) Link to comment Share on other sites More sharing options...
churchill Posted June 20, 2011 Author Share Posted June 20, 2011 Imports of gold and silver soar 222% in India Precious metals continue to be the fancy of Indian investors with the country recording $9 billion imports in just one month puzzling economists and analysts. http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=129665&sn=Detail&pid=102055 Lear Capital: China's Gold Buying Spree Continues http://www.ibtimes.com/articles/165498/20110619/lear-capital-chinas-gold-buying-spree-continues.htm along with Thailand , Mexico , The EU , Russia ++++++++++++++! Anyone selling ?? Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 20, 2011 Share Posted June 20, 2011 (edited) Imports of gold and silver soar 222% in India Precious metals continue to be the fancy of Indian investors with the country recording $9 billion imports in just one month puzzling economists and analysts. http://www.mineweb.c...tail&pid=102055 Lear Capital: China's Gold Buying Spree Continues http://www.ibtimes.c...e-continues.htm along with Thailand , Mexico , The EU , Russia ++++++++++++++! Anyone selling ?? For every single purchase there is a corresponding seller. It might be interesting to find out who is selling the stuff, just to balance out things a little bit. BTW I've watched the video before, well worth watching. Edited June 20, 2011 by 12DrinkMore Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2011 Share Posted June 21, 2011 For every single purchase there is a corresponding seller. It might be interesting to find out who is selling the stuff, just to balance out things a little bit. why spoil a nice goldbug story with ugly facts? gold is bought by clever people, only idiots sell gold. period! you don't believe me? ask independent and completely unbiased experts on gold such as... Mrs Naam Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2011 Share Posted June 21, 2011 Again Naam you are not looking to the future but here and now ....... here and now is what counts Churchill. i can't tell my wife "go to Foodland and buy Argentine steaks with some of our future income". i can't tell a car dealer "i'd like to buy this car. would you mind that i pay in the future with a part of my future income?" there's nothing wrong planning for the future. but plans should have a solid footing and reasonable expectations. assumptions and expectations generated by wet dreams combined with a gloom&doom scenario have no solid footing. collecting biased information from interested parties (mineweb et al) does not constitute a solid footing. it reminds me instead of a terminology used by the government of my "fatherland" during World War II: "again a huge victory was achieved! the logistic department of our armed forces managed to drop 0.784 tons of dried Pumpernickel bread to feed the 300,000 brave soldiers of our 6th Army which occupies Stalingrad." i can't help it detecting parallels when i read: "Imports of gold and silver soar 222% in India... China's Gold Buying Spree Continues... along with Thailand , Mexico , The EU , Russia..." and then the lame question "Anyone selling ??" who the EFF has sold gold to India, China, Thailand, Mexico, the EU, Russia? species 8479 from the Delta quadrant, deal negotiated by the Ferengis? Link to comment Share on other sites More sharing options...
midas Posted June 21, 2011 Share Posted June 21, 2011 (edited) Again Naam you are not looking to the future but here and now ....... here and now is what counts Churchill. i can't tell my wife "go to Foodland and buy Argentine steaks with some of our future income". i can't tell a car dealer "i'd like to buy this car. would you mind that i pay in the future with a part of my future income?" there's nothing wrong planning for the future. but plans should have a solid footing and reasonable expectations. assumptions and expectations generated by wet dreams combined with a gloom&doom scenario have no solid footing. collecting biased information from interested parties (mineweb et al) does not constitute a solid footing. it reminds me instead of a terminology used by the government of my "fatherland" during World War II: "again a huge victory was achieved! the logistic department of our armed forces managed to drop 0.784 tons of dried Pumpernickel bread to feed the 300,000 brave soldiers of our 6th Army which occupies Stalingrad." i can't help it detecting parallels when i read: "Imports of gold and silver soar 222% in India... China's Gold Buying Spree Continues... along with Thailand , Mexico , The EU , Russia..." and then the lame question "Anyone selling ??" who the EFF has sold gold to India, China, Thailand, Mexico, the EU, Russia? species 8479 from the Delta quadrant, deal negotiated by the Ferengis? Well at least one nation knows how to plan for the future " Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro cannot last. http://www.telegraph.co.uk/news/politics/8588047/Treasury-plans-for-Greece-to-go-bust.html Edited June 21, 2011 by midas Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2011 Share Posted June 21, 2011 Well at least one nation knows how to plan for the future " Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro “cannot last”. http://www.telegraph.co.uk/news/politics/8588047/Treasury-plans-for-Greece-to-go-bust.html Britain is in deep shit too. it is therefore understandable that the country is not interested to spend any money on Greece especially as the €UR is a "foreign" currency. that's not one iota more planning for the future than what is done to prevent an outright default of Greece. Link to comment Share on other sites More sharing options...
edgarfriendly Posted June 21, 2011 Share Posted June 21, 2011 i sold 20 baht (10oz) last week based on an upcoming 'downward correction' mentioned here. ef still waiting... i guess i'll be your idiot for today. Naam. jump in and tell us all how it could go up down left OR right... Link to comment Share on other sites More sharing options...
joker7 Posted June 21, 2011 Share Posted June 21, 2011 Sorry to change the subject. Do any of you gold bugs know where to sell a gold coin in either Thailand or UK and get a good price ? Thanks Joker Link to comment Share on other sites More sharing options...
12DrinkMore Posted June 21, 2011 Share Posted June 21, 2011 Looks like a few sellers are popping out of the woodwork... i sold 20 baht (10oz) last week based on an upcoming 'downward correction' mentioned here. Sorry to change the subject. Do any of you gold bugs know where to sell a gold coin in either Thailand or UK and get a good price ? I believe Churchill personally might be able to help in both countries.... He is very keen on the stuff. So what coin are you selling, maybe we can set up a gold auction here? Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2011 Share Posted June 21, 2011 i sold 20 baht (10oz) last week based on an upcoming 'downward correction' mentioned here. still waiting... i guess i'll be your idiot for today. Naam. jump in and tell us all how it could go up down left OR right... well, from all indications it looks like gold might go up, down or sideways. however, it is not known whether "sideways" means left or right. Link to comment Share on other sites More sharing options...
cloudhopper Posted June 21, 2011 Share Posted June 21, 2011 i sold 20 baht (10oz) last week based on an upcoming 'downward correction' mentioned here. ef still waiting... i guess i'll be your idiot for today. No one ever went broke taking profits edgar. Link to comment Share on other sites More sharing options...
churchill Posted June 21, 2011 Author Share Posted June 21, 2011 Is Gold About to Have Its Status Upgraded? Read more: http://www.businessinsider.com/is-gold-about-to-have-its-status-upgraded-2011-6#ixzz1PtXYSujy Link to comment Share on other sites More sharing options...
Naam Posted June 21, 2011 Share Posted June 21, 2011 Is Gold About to Have Its Status Upgraded? yes Link to comment Share on other sites More sharing options...
edgarfriendly Posted June 21, 2011 Share Posted June 21, 2011 thanks, so.....? im aching to have my gold back!! i just wanna buy it back cheaper, is that too much to ask?? now its about to be 'upgraded' .... ef Link to comment Share on other sites More sharing options...
flying Posted June 21, 2011 Share Posted June 21, 2011 gold is bought by clever people, only idiots sell gold. period! you don't believe me? ask independent and completely unbiased experts on gold such as... Mrs Naam I have every intention of selling gold someday But that day will be when I see some form of true monetary reform to stop the slide that is the USD I would be more than happy if that day is tomorrow. But I just have not seen even 1 inch of movement in the right direction since this mess started to boil in 2008 Link to comment Share on other sites More sharing options...
Naam Posted June 22, 2011 Share Posted June 22, 2011 thanks, so.....? im aching to have my gold back!! i just wanna buy it back cheaper, is that too much to ask?? now its about to be 'upgraded' .... ef to business class... Link to comment Share on other sites More sharing options...
Naam Posted June 22, 2011 Share Posted June 22, 2011 I have every intention of selling gold someday i will not tell Mrs Naam as that would hurt your reputation. Link to comment Share on other sites More sharing options...
Naam Posted June 22, 2011 Share Posted June 22, 2011 As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold (XAU) and silver (XAG), will go into effect on Friday, July 15, 2011.http://en.wikipedia.org/wiki/Foreign_exchange_market the screws are tightened. slowly but surely. Link to comment Share on other sites More sharing options...
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