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 Replies: 23 / Views: 2,599 |
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Valued Member
175 Posts |
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Valued Member
United States
302 Posts |
Entirely possible if the Fed keeps flooding the market with funny money.
Look what happened in Zimbabwe a few years ago, over ONE MILLION PERCENT INFLATION per year. It could happen here.
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Rest in Peace
United States
9104 Posts |
Nixon, not Ford, made it legal to own and contract in gold.
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Pillar of the Community
United States
667 Posts |
Without looking I am sure it was Ford.
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Valued Member
 175 Posts |
Yea I'm pretty sure Nixon was the one who took us off the gold standard in the 70s
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Pillar of the Community
United States
667 Posts |
It was Ford who signed the order permitting ownership of Gold. Nixon just took us off of the gold standard. Interesting enough when Ford first signed the order it did not include contracts, that came later.
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Valued Member
United States
362 Posts |
I don't think its possible, at least not in our life times...
But I think 25,000 says less about gold, and more about the US dollar. If the US dollar ever became so worthless that you would need 25,000 of them for a single ounce of metal, a jug if milk would end up costing like $200
Lol its a scary thought
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Valued Member
175 Posts |
Better start buying some cows now if thats the case lol.
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Pillar of the Community
United States
667 Posts |
How many do you want?  |
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Pillar of the Community
United States
3345 Posts |
Well because the value of gold here is relative to the value of the US Dollar, in that it takes more dollars to buy the same amount of gold as it did before, and the GOV'T is flooding the economy with paper, it's entirely possible. But only in a crash.
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Pillar of the Community
 United States
4618 Posts |
Just like the old joke. A man wakes up from 30 years in a coma. He ask the nurse if they have a pay phone, because he has to call his stock broker! So she take him in a wheelchair to the phone and swipes her credit card for him and dials the number he has for his broker. The broker says "Your GM stock is worth $400,000,000, your Ford stock is worth $500,000,000 and your AT&T stock is worth just over ONE billion dollars." The guy says "Well, that's Okay... I am old now, but I'm RICH!" Just then the operator breaks in and says, "I'm sorry, but you'll have to deposit another $25,000,000 for the next 3 minutes please." ***If I hit enter on this post, PLEASE forgive me.  *** ANA ID: 3203813 - CONECA ID: N-5637 Clean a coin that may be worth collecting? Please DON'T! When in doubt, leave it dirty!! 
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Valued Member
175 Posts |
Theirs a good chance $25,000 wont happen but its fun to think about. |
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Pillar of the Community
United States
3670 Posts |
Great read, and if humans don't wipe themselves out and survive long enough, 25,000 gold may be a real possibility, but I really doubt I will be alive to see it....
Five to ten thousand an oz. gold, now that is a real possibility if one does the math on the world debt situation, perhaps way sooner than many think in all our lifetimes. Compare it to a house of cards, no matter how solid the foundation, or steady the hand, eventually it will collapse upon itself....
Edited by Silverhawk74
08/17/2011 12:42 am
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Rest in Peace
United States
9104 Posts |
 Oops. I goofed. Nixon released the GSA bux. |
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Rest in Peace
United States
9104 Posts |
$25,000 gold is meaningless unless seen in relation to the prices of everything else.
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Moderator
Australia
16849 Posts |
Assuming that we are actually talking about a rise in value of gold, rather than a collapse in the dollar, then no, gold won't hit $25,000. Gold has a ceiling, above which price the extraction of gold from seawater becomes economically viable, which should (in theory) freeze gold at the extraction price, since the supply of gold from that source would last for millenia. We have several technologies waiting in the wings for it right now, it just costs $10,000 to $20,000 an ounce.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Replies: 23 / Views: 2,599 |
Posted 08/16/2011 9:58 pm
