flying Posted September 5, 2011 Share Posted September 5, 2011 Gaddafi gold-for-oil, dollar-doom plans behind Libya 'mission'? I am glad they mentioned the result of Saddam trying to switch the oil sales from dollars also. Link to comment Share on other sites More sharing options...
midas Posted September 5, 2011 Share Posted September 5, 2011 Gaddafi gold-for-oil, dollar-doom plans behind Libya 'mission'? I am glad they mentioned the result of Saddam trying to switch the oil sales from dollars also. yes yes flying " Once Is Chance, Twice is Coincidence, Third Time Is Enemy Action " Link to comment Share on other sites More sharing options...
Naam Posted September 5, 2011 Share Posted September 5, 2011 Gaddafi gold-for-oil, dollar-doom plans behind Libya 'mission'? I am glad they mentioned the result of Saddam trying to switch the oil sales from dollars also. for GOD's sake no conspiracy theories gentlemen! use a wee bit of logic please. yes, it's all about crude oil whether it's Iraq, Libya or the Bolivariano Republic de Teniente Coronel Hugo Chavez el Magnifico y pain in the ass of Washington. "EUR for crude" or "gold for crude" was nothing but pinching the Greatest Nation on Earth™ reason: those who sell crude can accept any currency and use in a nanosecond (or even futures) that currency to buy another currency or a commodity. Link to comment Share on other sites More sharing options...
flying Posted September 5, 2011 Share Posted September 5, 2011 (edited) reason: those who sell crude can accept any currency and use in a nanosecond (or even futures) that currency to buy another currency or a commodity. Oh so now gold IS a currency? That aside I do think it is not a conspiracy theory at all. Yes as you say they can convert in a nano second after the deal is closed but ...would they? Why would they? If they no longer *need* to in order to purchase oil. That is the difference. Today xxxxxx USD has to be used to buy oil. If that was not a requirement then there would surely be less USD in circulation or needed to be. That is a lot of loss of ....I have forgotten the word? AH yes seigniorage revenue the effective interest-free loan generated by issuing additional currency to nonresidents that hold U.S. notes and coins—that generates an estimated $10 billion In any case if USD of that quantity is used even for a day there is a huge benefit. Edited September 5, 2011 by flying Link to comment Share on other sites More sharing options...
midas Posted September 5, 2011 Share Posted September 5, 2011 for GOD's sake no conspiracy theories gentlemen! use a wee bit of logic please. yes, it's all about crude oil whether it's Iraq, Libya or the Bolivariano Republic de Teniente Coronel Hugo Chavez el Magnifico y pain in the ass of Washington. Link to comment Share on other sites More sharing options...
Naam Posted September 5, 2011 Share Posted September 5, 2011 reason: those who sell crude can accept any currency and use in a nanosecond (or even futures) that currency to buy another currency or a commodity. Oh so now gold IS a currency? NO it is NOT! Link to comment Share on other sites More sharing options...
Naam Posted September 5, 2011 Share Posted September 5, 2011 for GOD's sake no conspiracy theories gentlemen! use a wee bit of logic please. yes, it's all about crude oil whether it's Iraq, Libya or the Bolivariano Republic de Teniente Coronel Hugo Chavez el Magnifico y pain in the ass of Washington. yewtoob clips are for people who don't want to use their own brains Link to comment Share on other sites More sharing options...
Naam Posted September 5, 2011 Share Posted September 5, 2011 That is the difference.Today xxxxxx USD has to be used to buy oil. If that was not a requirement then there would surely be less USD in circulation or needed to be. that is rubbish³ spread by zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade. correct is: crude oil is priced in USD and can be paid for in any freely convertible currency. period! the same goes e.g. for gold which is priced in USD but can be bought with any acceptable currency. use your brains gentlemen! don't accept what fairy tales clowns are telling you even though the $/oil fairy tale is decades old. Link to comment Share on other sites More sharing options...
churchill Posted September 5, 2011 Author Share Posted September 5, 2011 reason: those who sell crude can accept any currency and use in a nanosecond (or even futures) that currency to buy another currency or a commodity. Oh so now gold IS a currency? NO it is NOT! It is a commodity like all others and like Silver ..demand is outstripping supply and so price is going up / when will that change ? Why should Gold go up ? It does not have any uses , unlike silver , but demand increases demand , traders look at charts .. Will it crash --- it is coming but when ... I think it has some time to run - Take internet stocks that went from pennies to 80 / 90 pennies ++ -- perhaps that is where we are with gold as more and more get sucked in from 1K to 50K ...... ? Silver --imo will rise with gold but not fall as much . Link to comment Share on other sites More sharing options...
midas Posted September 5, 2011 Share Posted September 5, 2011 That is the difference.Today xxxxxx USD has to be used to buy oil. If that was not a requirement then there would surely be less USD in circulation or needed to be. that is rubbish³ spread by zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade. correct is: crude oil is priced in USD and can be paid for in any freely convertible currency. period! the same goes e.g. for gold which is priced in USD but can be bought with any acceptable currency. use your brains gentlemen! don't accept what fairy tales clowns are telling you even though the $/oil fairy tale is decades old. what evidence do you have that your perception is more correct than " zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade."? Link to comment Share on other sites More sharing options...
manarak Posted September 5, 2011 Share Posted September 5, 2011 That is the difference.Today xxxxxx USD has to be used to buy oil. If that was not a requirement then there would surely be less USD in circulation or needed to be. that is rubbish³ spread by zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade. correct is: crude oil is priced in USD and can be paid for in any freely convertible currency. period! the same goes e.g. for gold which is priced in USD but can be bought with any acceptable currency. use your brains gentlemen! don't accept what fairy tales clowns are telling you even though the $/oil fairy tale is decades old. what evidence do you have that your perception is more correct than " zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade."? Your whole argument is skewed, Midas. I was going to explain, but feeling lazy now, so I will only offer Link to comment Share on other sites More sharing options...
midas Posted September 5, 2011 Share Posted September 5, 2011 (edited) That is the difference.Today xxxxxx USD has to be used to buy oil. If that was not a requirement then there would surely be less USD in circulation or needed to be. that is rubbish³ spread by zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade. correct is: crude oil is priced in USD and can be paid for in any freely convertible currency. period! the same goes e.g. for gold which is priced in USD but can be bought with any acceptable currency. use your brains gentlemen! don't accept what fairy tales clowns are telling you even though the $/oil fairy tale is decades old. what evidence do you have that your perception is more correct than " zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade."? Your whole argument is skewed, Midas. I was going to explain, but feeling lazy now, so I will only offer well I would be interested to know your explanation manarak when you are feeling less lazy bearing in mind I merely asked a question ? what argument do you purport I made ? Edited September 5, 2011 by midas Link to comment Share on other sites More sharing options...
midas Posted September 5, 2011 Share Posted September 5, 2011 Why should Gold go up ? It does not have any uses , oh yes it does Link to comment Share on other sites More sharing options...
flying Posted September 5, 2011 Share Posted September 5, 2011 (edited) correct is: crude oil is priced in USD and can be paid for in any freely convertible currency. period! the same goes e.g. for gold which is priced in USD but can be bought with any acceptable currency. Yes agreed & you said it clearer. But I still believe there would be a great loss of USD control over it. Obviously if Gaddafi was successful in pricing & demanding payment of it in gold dinars as told in that video... Edited September 5, 2011 by flying Link to comment Share on other sites More sharing options...
flying Posted September 5, 2011 Share Posted September 5, 2011 Gold now sits at $1901/oz Will be interesting to watch the US open tomorrow morning. We are closed here in the US today for Labor Day holiday. Link to comment Share on other sites More sharing options...
manarak Posted September 5, 2011 Share Posted September 5, 2011 (edited) Gold now sits at $1901/oz Will be interesting to watch the US open tomorrow morning. We are closed here in the US today for Labor Day holiday. What you really mean is that the USD fell to its historical all time low value of 0.000526 ounces of gold... I think it is important to remind people that the price it is not so much the result of gold appreciating than the USD falling... almost free fall and accelerating... Edited September 5, 2011 by manarak Link to comment Share on other sites More sharing options...
flying Posted September 5, 2011 Share Posted September 5, 2011 (edited) Gold now sits at $1901/oz Will be interesting to watch the US open tomorrow morning. We are closed here in the US today for Labor Day holiday. What you really mean is that the USD fell to its historical all time low value of 0.000526 ounces of gold... I think it is important to remind people that the price it is not so much the result of gold appreciating than the USD falling... almost free fall and accelerating... That is basically true but a reminder that gold is rising against all currencies not just the USD. In fact in recent days the USD has also been rising and now sits at 75.18 Edited September 5, 2011 by flying Link to comment Share on other sites More sharing options...
Naam Posted September 6, 2011 Share Posted September 6, 2011 what evidence do you have that your perception is more correct than " zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade."? this is not my perception but facts and logic. ask yourself the question "can i buy gold, oil, copper and whatever by paying with Swiss Francs, EURos. Japanese Yen, British Pounds...?" should your answer be "no" then you qualify for the certificate "...possesses a wealth of financial no idea". Link to comment Share on other sites More sharing options...
churchill Posted September 6, 2011 Author Share Posted September 6, 2011 'BANGKOK: Thailand’s central bank board will discuss a plan to set up a sovereign wealth fund as suggested by the finance minister and expects to have a conclusion in a month, the central bank governor said yesterday.' 'The idea came from Energy Minister Pichai Naripthaphan who said the government would talk to the central bank about setting up such a fund and using some of the country’s foreign reserves to invest in commodities such as gold and oil and in yuan-denominated assets, in light of the weakness in the dollar.' http://biz.thestar.com.my/news/story.asp?file=/2011/9/6/business/9432118&sec=business Link to comment Share on other sites More sharing options...
flying Posted September 6, 2011 Share Posted September 6, 2011 (edited) Gold making a run for the all time USD high in Asia/Euro markets $1914 as of now Looking like the intraday $1917 high may be broken. Edited September 6, 2011 by flying Link to comment Share on other sites More sharing options...
Lost in LOS Posted September 6, 2011 Share Posted September 6, 2011 But if you look here you will see... not much.. as of today (Saturday) Thai Gold Traders Association quotes Gold Bar 96.5% sale THB 26,600 per Baht weight. here we go: http://phuketindex.c...date-gold-e.htm THB 26000 (965) = THB 27,565 (999)*2*1.015625 = THB 55,991/29.75 = USD 1,882/ounce = where's the beef? by the time you calculated all that it was 1883 so its outdated Link to comment Share on other sites More sharing options...
flying Posted September 6, 2011 Share Posted September 6, 2011 New intraday high Link to comment Share on other sites More sharing options...
midas Posted September 6, 2011 Share Posted September 6, 2011 what evidence do you have that your perception is more correct than " zeroblogspotmaxkeiseralphavillegloomers.com and some clowns who have no idea about finances and global trade."? this is not my perception but facts and logic. ask yourself the question "can i buy gold, oil, copper and whatever by paying with Swiss Francs, EURos. Japanese Yen, British Pounds...?" should your answer be "no" then you qualify for the certificate "...possesses a wealth of financial no idea". my answer is YES... BUT !! Link to comment Share on other sites More sharing options...
midas Posted September 6, 2011 Share Posted September 6, 2011 New intraday high and to think some people say there is no use for it..... sheesh Link to comment Share on other sites More sharing options...
flying Posted September 6, 2011 Share Posted September 6, 2011 and to think some people say there is no use for it..... sheesh No use for it?? Link to comment Share on other sites More sharing options...
churchill Posted September 6, 2011 Author Share Posted September 6, 2011 Gold Hits New High of $1920; Miners Should Follow http://globaleconomicanalysis.blogspot.com/2011/09/gold-hits-new-high-of-1920-miners.html Link to comment Share on other sites More sharing options...
Naam Posted September 6, 2011 Share Posted September 6, 2011 (edited) Edited September 6, 2011 by Naam Link to comment Share on other sites More sharing options...
churchill Posted September 6, 2011 Author Share Posted September 6, 2011 Looks like central bankers are beginning to panic ..... As the politicians have more meetings ... I see German , Dutch , Finnish Finance ministers having a meeting ?? "The Swiss central bank says it is setting a minimum franc exchange rate of 1.20 against the euro - #EUR #forex #fx' Gold up to $1920 then down to $1860 in an hour or so ... Link to comment Share on other sites More sharing options...
churchill Posted September 6, 2011 Author Share Posted September 6, 2011 'Swiss National Bank fixes the exchange rate of 1.20 francs per euro - AP' So I suppose next Japan will fix their currency to the $ ...... Whilst Gold becomes the only true currency Link to comment Share on other sites More sharing options...
churchill Posted September 6, 2011 Author Share Posted September 6, 2011 Euro Zone rate cut coming .. 'ECB President Jean-Claude Trichet signaled last week the bank may revise its assessment that there is a risk of inflation accelerating. “It’s inevitable for the ECB to change their stance on inflation,” said Toshiya Yamauchi, a senior currency analyst in Tokyo at Ueda Harlow Ltd., which provides foreign-exchange margin-trading services. “If they don’t immediately lower borrowing costs, they may at least signal interest-rate cuts. The euro will trade lower heading into the ECB meeting.”' http://www.businessweek.com/news/2011-09-06/euro-declines-before-german-factory-orders-data-franc-advances.html Link to comment Share on other sites More sharing options...
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