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 Replies: 10 / Views: 1,204 |
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Pillar of the Community
United States
1450 Posts |
Anybody know what caused the dollar to drop so much? I can't find anything online to explain it! Obviously,the stock market is up also,they love those cheap dollars!
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Pillar of the Community
Canada
1411 Posts |
Silver is up because I'm about to buy... Every time I'm about to buy it goes up atleast 30 cents...
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Bedrock of the Community
United States
36800 Posts |
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Pillar of the Community
United States
3670 Posts |
I don't know but I am happy I grabbed 12 Peace dollars and 8 Morgans and a little gold before it took off again, at least for now.... Still silver has put 2 more bucks behind it again since falling to 27, and still wouldn't be surprised if it fail right back again real soon.... Who knows, with gold pushing toward 1650 it may be truly on the move again.... |
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Pillar of the Community
 United States
1450 Posts |
Thanks Indian Gold Eagle,an interesting read indeed. Let's hope the articles speculation comes to pass. I wonder how silver fits in Basel III?
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Pillar of the Community
United States
4008 Posts |
Interesting article for sure, IGE. Thanks for posting the link. I thought that this was a little funny, though: "At the top of the proposed changes is the new list of "zero-percent risk weighted items," which now includes "gold bullion," right after "cash."" LOL! It is not gold that needs reassurance that it is money, it is that silly paper stuff that they zap up out of thin air that needs the reassurance. Gold has been money for 5,000 or so years. To most PM collectors, it still is! At least gold is getting the respect that it is due... in public, anyway. My sneaking suspicion is that gold has always had a great deal of respect from the bankers but they keep that little secret in private, all the while denigrating gold in public as being "a primitive artifact" of finance. Anyway, they might as well come clean on gold now. They sure have been buying a LOT of it!
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Pillar of the Community
United States
1450 Posts |
Yep Ed,the central banks seem to be jumping on gold lately in a big way. This may be the prelude to SHTF scenario.The sheeple still haven't caught on,they still think the election will change things. Silly sheeple!
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Pillar of the Community
United States
863 Posts |
And I still do not own any gold :(
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Valued Member
United States
367 Posts |
Silver hit $30 today    Hopefully it keeps going up. |
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Pillar of the Community
United States
830 Posts |
Yep don't look now but a huge break out on the technical charts for gold right now. A statement on the Fed minutes around midday showed "many" members of the Fed Reserve are wanting more QE.
Edited by GoThunder
08/22/2012 3:25 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
...the central banks seem to be jumping on gold lately in a big way. They sure have, Hock. Buying in multi-ton quantities is impressive, not to mention the fact that China has bought nearly 400 tons of gold in 2012. They are admitting to that much but the actual amount is probably higher than that. Don't want to spook the market and send gold up like a rocket before they are ready for whatever they are planning. My best guess is that China is loading up on gold and perhaps silver as well because they want to Internationalize their currency in preparation for it becoming the new world reserve currency. Even a partly PM backed currency would be very attractive to a lot of people and countries around the world, especially the creditor nations. Americans need to face the facts here. We often aren't very good at that, unfortunately. The simple fact is, the US dollar has been badly mismanaged and that is something that cannot be done without causing a lot of problems. Some of those problems WILL come home to roost and when they do, there is going to be a lot of squealing and finger-pointing going on about it. That will be mostly for political showmanship because, with very few exceptions, all of our politicians have been responsible for this. Merely the loss of WRC status would be about equal to a 30% devaluation in the dollar. When this happens, it will happen very suddenly, practically over-night. We will all wake up one morning to that news and very shortly after we will discover the HUGE impact that it has on our lives. It will be exactly the same as if we suddenly had 30% less money and that is going to be one heckuva wake-up call... for those whose wealth is in dollars, that is.  |
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Replies: 10 / Views: 1,204 |
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Posted 08/21/2012 11:24 am
