fletchsmile Posted January 25, 2013 Share Posted January 25, 2013 (edited) An article written with all the business acumen of Lord Percy from Blackadder. For those who remember those classic comedy moments: Lord Percy Percy: I've done it, my Lord! I've discovered how to turn things into gold! Pure gold! Blackadder: You have? Show me! Lord Percy Percy: [takes lid off melting pot, and Baldrick, Percy and Blackadder are bathed in a green glow] Behold! Blackadder: Percy... it's green. Lord Percy Percy: Yes, my Lord! Blackadder: Now, look, Percy, I don't mean to be pedantic or anything, but the color of gold... is gold. That's why it's called gold. What YOU have discovered, if it has a name, is some... Green. Lord Percy Percy: [removes lump of Green from pot] Oh, Edmund... can it be true? That I hold here, in my mortal hand, a nugget of purest Green? Blackadder: Yes indeed, Percy, except that it's not really a nugget but more of a splat. Lord Percy Percy: Yes, my Lord. A splat today, but tomorrow, who knows, or dares to dream.. Makes you wonder whether if that classic series had been written for modern day Thailand whether Lord Percy would have been discovering green in his dreams or writing for the Nation... Edited January 25, 2013 by fletchsmile 1 Link to comment Share on other sites More sharing options...
mccw Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. and if no-one else can afford to buy the gold? No problem. Exchange it for goods and services. Or property Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 only full-fledged clowns (like James Rickards) are making statements like "gold prices will rise the most in currencies that are weakening the most. http://finance.yahoo...-170006263.html" Try debating his statement instead of calling him names. what sense does it make to debate a statement which is either the result of being p*ssed with cheap booze or issued after heavy blows on the skull with hard objects. here's the self-explanatory wisdom again "gold prices will rise the most in currencies that are weakening the most" please enlighten me what part should, respectively can be debated Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. and if no-one else can afford to buy the gold? No problem. Exchange it for goods and services. Or property what is the difference between "buying" and "exchanging"? Link to comment Share on other sites More sharing options...
mccw Posted January 25, 2013 Share Posted January 25, 2013 what is the difference between "buying" and "exchanging"? None. Link to comment Share on other sites More sharing options...
Naam Posted January 25, 2013 Share Posted January 25, 2013 what is the difference between "buying" and "exchanging"? None. correct! and that means if somebody can't afford to "buy" he neither can afford to "exchange" because he lacks fungible values. Link to comment Share on other sites More sharing options...
mccw Posted January 25, 2013 Share Posted January 25, 2013 what is the difference between "buying" and "exchanging"? None. correct! and that means if somebody can't afford to "buy" he neither can afford to "exchange" because he lacks fungible values. No Just because no one is buying gold with the worthless paper money does not mean gold could be used as alternate currency. example a half bht wiegh can't buy an X kilos of rice or purchase broke ostrich Falagans house for 5oz, or say X oz for Y rai of land. This is why gold is so popular with the Chinese and Asians; its been used as a reserve currency of generations. 1 Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 what is the difference between "buying" and "exchanging"? None. correct! and that means if somebody can't afford to "buy" he neither can afford to "exchange" because he lacks fungible values. No Just because no one is buying gold with the worthless paper money does not mean gold could be used as alternate currency. example a half bht wiegh can't buy an X kilos of rice or purchase broke ostrich Falagans house for 5oz, or say X oz for Y rai of land. This is why gold is so popular with the Chinese and Asians; its been used as a reserve currency of generations. please provide evidence that "Chinese and Asians" used gold to buy rice, homes and land. Link to comment Share on other sites More sharing options...
Chopperboy Posted January 26, 2013 Share Posted January 26, 2013 (edited) If the dollar, euro and yen were to crash it would not just be a Thai problem .... it would be global. And they should think themselves lucky they didn't have the economic genius of Gordon Brown costing the nation a fortune selling off gold when the price was rock bottom. Come to think of it Thailand must be swimming in gold only most of it is hanging around hi-so necks. Brown was the biggest liar and hypocrite that ever came out of the UK, just like all Labour politicians, Labour are bigger liars and crooks than all the political parties put together. According to Max Keiser, in the first part of this discussion, the reason that its taking 7 years to transfer the gold back to Germany and why Brown sold the UK gold so cheap is because the gold held in reserve banks has actually been "leased" out, which is a fancy way of saying it may still be in the vault, but its been sold on. Edited January 26, 2013 by Chopperboy Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 yeah, Max Keiser knows! Link to comment Share on other sites More sharing options...
Chopperboy Posted January 26, 2013 Share Posted January 26, 2013 (edited) yeah, Max Keiser knows! No its taking 7 years to move 1,500 tons of gold to Germany because Angela Merkel is carrying it back one bar at a time in her handbag! Edited January 26, 2013 by Chopperboy Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 (edited) yeah, Max Keiser knows! No its taking 7 years to move 1,500 tons of gold to Germany because Angela Merkel is carrying it back one bar at a time in her handbag! not 1500 but 350 tons will be repatriated from the US. your information is as good as the one of Max Keiser Edited January 26, 2013 by Naam Link to comment Share on other sites More sharing options...
Chopperboy Posted January 26, 2013 Share Posted January 26, 2013 (edited) <p> yeah, Max Keiser knows! No its taking 7 years to move 1,500 tons of gold to Germany because Angela Merkel is carrying it back one bar at a time in her handbag! not 1500 but 350 tons will be repatriated from the US. your information is as good as the one of Max Keiser You understand its a joke - right?? So no need to be deadly accurate.. If you're the expert why are they taking so long to ship the gold then? Edited January 26, 2013 by Chopperboy Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 <p> yeah, Max Keiser knows! No its taking 7 years to move 1,500 tons of gold to Germany because Angela Merkel is carrying it back one bar at a time in her handbag! not 1500 but 350 tons will be repatriated from the US. your information is as good as the one of Max Keiser You understand its a joke - right?? So no need to be deadly accurate.. If you're the expert why are they taking so long to ship the gold then? i am not an expert and i care a flying fàrt why after half a century storage in the US it takes "so long to ship the gold". the Bundesbank possesses the constitutional freedom to make any decision on gold without asking my or the permission of some <deleted> who spreads his sensationalist rubbish twice a week via Russia Today. Link to comment Share on other sites More sharing options...
churchill Posted January 26, 2013 Share Posted January 26, 2013 The Bundesbank can do what it wants in Germany but they are told by the NY Fed .. to FO .. That is why they want their gold back .. It's already gone from 3 to 7 years , who says that will not be extended ............................................... Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 The Bundesbank can do what it wants in Germany but they are told by the NY Fed .. to FO .. That is why they want their gold back .. It's already gone from 3 to 7 years , who says that will not be extended ............................................... it's always interesting to get some indepth feedback, e.g. what the FED tells the Bundesbank, whether gold exists in Fort Knox or does not exist and if it exists that it is leased out... Link to comment Share on other sites More sharing options...
Chopperboy Posted January 26, 2013 Share Posted January 26, 2013 If you lent property for safe keeping - and then was told you had to wait seven years to get it back you might consider if they still had it? Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 If you lent property for safe keeping - and then was told you had to wait seven years to get it back you might consider if they still had it? nobody told anybody to "wait". repeating conspiracy theories spread by gloom&doom masters does not make rubish tales come true. Link to comment Share on other sites More sharing options...
churchill Posted January 26, 2013 Share Posted January 26, 2013 'nobody told anybody to "wait"............How do you know ... the Bundesbank says they have requested the gold over 7 years ( Why ) .. and what choice would they have .....If they were told 10 years they would likely have to accept it ... or do you think they would announce delivery problems ... Link to comment Share on other sites More sharing options...
Naam Posted January 26, 2013 Share Posted January 26, 2013 'nobody told anybody to "wait"............How do you know ... the Bundesbank says they have requested the gold over 7 years ( Why ) .. and what choice would they have .....If they were told 10 years they would likely have to accept it ... or do you think they would announce delivery problems ... if they were told... who told whom? and who told you? the tooth fairy? Link to comment Share on other sites More sharing options...
trutrvl Posted January 26, 2013 Share Posted January 26, 2013 Germany leaving the EURO? Whishfull thinking! It would be grate for the erozone but Germany is too selfish to do anybody any favours. As for the article as a whole... everyone is entitle to their opinons but when opinions are presented as facts then I draw the line and will never, from this point on, take Thanong Khanthong seriously on anything he writes.... what are his credentials as an economist anyway? Link to comment Share on other sites More sharing options...
sirchai Posted January 26, 2013 Share Posted January 26, 2013 I've been here, when the big troubles appeared to a nightmare of all involved.. Link to comment Share on other sites More sharing options...
lounger Posted January 26, 2013 Share Posted January 26, 2013 If the dollar, euro and yen were to crash it would not just be a Thai problem .... it would be global. And they should think themselves lucky they didn't have the economic genius of Gordon Brown costing the nation a fortune selling off gold when the price was rock bottom. Come to think of it Thailand must be swimming in gold only most of it is hanging around hi-so necks. Amazing that any economic discussion requires the wheeling out of the boring tired old story about Gordon Brown and his gold. zzzzzzzzzzz When the major currencies lose their value one option is to walk away another is to devalue to keep parity. Thailand devaluing would easily be done by printing more baht such as is needed to pay for their hair brained capital projects... Walking away from the $US doesnt make sense as the per capita spending in America makes trade an essential process. Trade can continue if the world walks away from the dollar but will Americans really buy Asian goods using yuan. Its a scary future so lets forget it and talk about Lamont and Brown and other past chancellors of the UK exchequer after all we are so old its the only thing we can remember........ Link to comment Share on other sites More sharing options...
trutrvl Posted January 27, 2013 Share Posted January 27, 2013 Some of the quoted figures in the article are interesting and could be of value if they are indeed statistic and not opinions. The article would carry some weight if acknowledgements to figures stated was given... i.e. give the source of the figures Link to comment Share on other sites More sharing options...
hopdafru Posted January 27, 2013 Share Posted January 27, 2013 Who gives a monkey's what the gold naysayers in and from highly-indebted countries think? They haven't got a pot to piss in unless they borrow it. The whole shebang is coming down - albeit in slow motion - and those holding gold and silver when the dust settles will be sitting mighty pretty. and if no-one else can afford to buy the gold? No problem. Exchange it for goods and services. Let's say the local currency collapses, who will buy your gold and to do what? You certainly can't eat it. Let's say people suddenly start exchanging goods and services using gold... how do you deal with gold bars and such?you'd have to break'em into little pieces... if this ever happens I'll go and buy equipment and exchange my work for a percentage of the gold... I'm no expert but if I take the Innovators / immitators / idiots rule, I'd say buying gold is already in the 3rd stage, perhaps silver is smarter as its lower value would make it easier to exchange, but in any event I'm making sure we keep our plot of land where we grow a bunch of vegetables, for sure that will have value both for survival and exchange whatever happens to the currency or the volatility of gold/silver. During the 97 crisis in Asia or the argentina currency collapse, did people suddenly start buying goods and services with gold/silver? I'm really curious how these pretty recent events developped on the ground, any future collapse would probably develop in a similar fashion, wouldn't it? Link to comment Share on other sites More sharing options...
stoli Posted January 28, 2013 Share Posted January 28, 2013 The ostriches do not see that the US dollar is actually worthless now. It is propped up by reputation and the sheer numbers of people using it. Gordon Brown certainly did kill sterlings chances of retaining world predominance alongside the greenback. Germany is not going to abandon the euro, but they are making sure that their gold is not "lost" when the US dollar collapses. When a few of the renegade euro users leave the euro, Germany and France will be well-placed to control the future of the euro, no need to revert to the deutchmark. The article is correct in forecasting that China will predominate in the future. They ave been building their holdings of US debt and even today they could probably cause a total collapse of the dollar just by calling in the debt. As for Thailand -- they suffer from a policy of abandoning gold and now will need to align with something other than the dollar. Interestingly - Thai policy went 100% against the populations wishes. There must be a fair amount of gold held privately. I wonder if there are any estimates of how much..... The US owes approximately the same amount to Japan as they do to China. As far as China calling in US debt to China, what would be the purpose of that? The US would tell them where to stick it, and China would definetly miss the interest payments from the US, as well as the principal. We need to stop talking about things that are never going happen. Link to comment Share on other sites More sharing options...
midas Posted January 28, 2013 Share Posted January 28, 2013 and if no-one else can afford to buy the gold? No problem. Exchange it for goods and services. Let's say the local currency collapses, who will buy your gold and to do what? You certainly can't eat it. Let's say people suddenly start exchanging goods and services using gold... how do you deal with gold bars and such?you'd have to break'em into little pieces... if this ever happens I'll go and buy equipment and exchange my work for a percentage of the gold... I'm no expert but if I take the Innovators / immitators / idiots rule, I'd say buying gold is already in the 3rd stage, perhaps silver is smarter as its lower value would make it easier to exchange, but in any event I'm making sure we keep our plot of land where we grow a bunch of vegetables, for sure that will have value both for survival and exchange whatever happens to the currency or the volatility of gold/silver. During the 97 crisis in Asia or the argentina currency collapse, did people suddenly start buying goods and services with gold/silver? I'm really curious how these pretty recent events developped on the ground, any future collapse would probably develop in a similar fashion, wouldn't it? Let's say people suddenly start exchanging goods and services using gold... how do you deal with gold bars and such?you'd have to break'em into little pieces... if this ever happens I'll go and buy equipment and exchange my work for a percentage of the gold... it is happening ! http://www.combibar.com/?L=3793 Link to comment Share on other sites More sharing options...
midas Posted January 28, 2013 Share Posted January 28, 2013 Link to comment Share on other sites More sharing options...
Naam Posted January 28, 2013 Share Posted January 28, 2013 it is happening ! http://www.combibar.com/?L=3793 only idiots are paying the fancy premium over spot Link to comment Share on other sites More sharing options...
hopdafru Posted January 28, 2013 Share Posted January 28, 2013 Let's say people suddenly start exchanging goods and services using gold... how do you deal with gold bars and such?you'd have to break'em into little pieces... if this ever happens I'll go and buy equipment and exchange my work for a percentage of the gold... it is happening ! http://www.combibar.com/?L=3793 Wow! Thanks for that link Midas, very interesting. How many of TV readers have been buying gold as a preventative measure? And is it european monetized gold or Thai gold which seem to be different? I also just watched this: http://www.youtube.com/watch?v=Vxllh1UED80 which clearly mentions hyper inflation and currency collapse. How would a dollar collapse affect the Euro and in turn SEA currencies? Are small SEA countries like Laos / Cambodia protected as they aren't yet totally plugged in to the world economy? Any clue from the 97 crisis here or the argentinian collapse that would help understand how this would play out for us living in the area? scary stuff... Link to comment Share on other sites More sharing options...
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