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Pillar of the Community
 United States
3789 Posts |
@miggs
I just dont see that way and never will.
China will NEVER be a world superpower. They are way far away from that. They will ALWAYS be committed to buying USD and US debt.
They have no way out of buying US debt and dollars.
The US, the dollar, are NOT going to collapse. Furthermore, IF they did, gold and silver will not skyrocket to the moon, I would expect them to collapse as well. Not too mention, the US goes down the toliet, so does the entire world. period.
So for those wanting higher prices in silver and gold, its a no win situation. Really I think the only way I see gold and silver getting higher prices is only with a new cycle.
I mean really, those pushing gold and silver have struck out on everything. Think aout it, QE, zippo. Wars, zippo. Unemployment, zippo. I mean its swing and a miss for those who are pushing that you must have gold.
Finally, if things took a dump, I quite frankly could see and would not be shocked to see the USD skyrocket, along with US tbills while gold and silver fell hard.
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Valued Member
Canada
281 Posts |
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Its not going to get out of control because when it gets to high people stop buying. People stopped buying in the high 40s and it fell back down. People arent going to be buying 100+ dollar silver left and right without massive inflation The fact that only 3 to 4% of the US population owns any PM's is indicative (in part) to the present prices. But there is an awakening to the mess we're all in and with that knowledge about PM's. Could you imagine if everybody bought just a few ounces of silver, where the price would be? As you know, investors (not all) jumps in the fray as the price rises and rises to point of a snowball effect. Tell me who thought gold would go from $250 to $1980 in 1999 in the space of 11 years? |
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Pillar of the Community
United States
3789 Posts |
@Miggs
traders, the markets. They kept buying high and then sitting and waiting. Simple. All assets work this way. Now gold is running downhill.
remember dont fight trends. those same markets that everyone dislikes and says are fake etc etc , they are the ones who ran up gold and silver. now without their involvement, prices go nowhere and remain in a downtrend.
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Valued Member
Canada
281 Posts |
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China will NEVER be a world superpower. They are way far away from that Heh? You're not serious yup? That's a joke ,right? |
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Pillar of the Community
United States
5856 Posts |
If China isn't one of the superpower, who else is running Asia?
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Pillar of the Community
Canada
3692 Posts |
He's got a crystal ball. Personally, I wouldn't trust anyone who actually believes in superpowers.
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Pillar of the Community
United States
3789 Posts |
Yes I am serious. China is not considered a world power as of right now nor will they ever be a world super power.
I am not joking I am being serious and I stick to that belief. There is nothing china can do now or ever in the future to be a world super power.
No military might and no financial might. Very simple to understand. There is only one super power in the world and thats the USA. Period.
Just looking at China's standing in financial markets, its a joke. Everything they do have is because of network and infrastructure from the US markets. They don't hold the same status for their bonds, I can go on and on. Just on their lack of financial might clips their wings at ANY future aspirations of being a world superpower.
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Pillar of the Community
United States
3789 Posts |
China means nothing, really. They sweat themselves silly worrying about how they can placate and do more business with the US and you can take that to the bank.
Tell me what financial prowess does China have? And please dont come quoting me newspaper articles and links.
China, as an example, is not a major player in setting prices for gold. They have their exchanges but they LACK complete market place dominance, its something they will never achieve. China plays a back seat in the gold markets. Thats why I laugh like silly at all the talk about how "china is buying physical gold so that puts a floor on prices".
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Pillar of the Community
United States
648 Posts |
I can't wait for China to take over the currency world!
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Pillar of the Community
Australia
7096 Posts |
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No military might and no financial might. Very simple to understand I find that statement Arrogant and ill informed . The last 2 times the US has started a War with a Country backed by China it has ended in tears. They ARE a super power and have been for quite some time now  |
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Pillar of the Community
United States
2168 Posts |
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Pillar of the Community
United States
3789 Posts |
My point, which I want to narrow down is that China cannot influence world gold or silver prices. Thats my primary point, the political part I could care LESS about and this isn't the place for it.
Again, China cannot influence or help the gold market levitate, nor the silver market.
That is what my point is in bringing up their status as a non-superpower. As a non-super power, they have no financial means to bring up the gold market. Nor can their gold buying help them diversify away from all the US debt they own nor dollars.
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Bedrock of the Community
13014 Posts |
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Maybe not basebal but it will be used to back different currencies. That's why central banks and governments are accumulating gold, especially China It will always have its place but it wont be used to back currencies in the tradional sense of we have metal for every dollar or yen. You really have to separate out the Eastern and Western world though for why they buy. We dont have the ceremonial/cultural significance. Plus we both know that Chinese currency is backed by the AK-47. Quote:
The Chinese fully recognizes this and are already positioning themselves to come out smelling like roses if there's a collapse caused by whatever reason. It really doesn't matter if they keep or dump the debt, all the matters is the initial purchase then they can do whatever they want it we got the money we wanted. They really dont have a way to insult themselves from us right now though. Their economy is largely driven by the massive amount of stuff they make for us. Were by far their largest trade partner and you cant lose that and not take a massive hit. Aside from nukes its why full out open war wouldnt happen with them. Even a one sided slaughter in war would have devastating financial affects. In all honesty they really need us more than we need them right now. Theres a lot of countries that can provide dirt cheap labor and could fill that void left by them even if it means several countries have to do it. Theres no one that can step in and replace our purchasing power. Quote:
Since the exponential US debt growth, gold has climbed to levels never seen before. So if the dollar dies how does gold become worthless? The 80s prices were higher and I think the WWII ones might have been as well if you consider inflation. Either way though a collapse of the US dollar means 300+ million people in absolute chaos. Granted you could probably cut the number in half just from immediate deaths from the fighting that would take place, but theres no way it doesn't spill over and you wouldnt see people flooding North and South of the boarders to get away. Police would turn into roving gangs like we saw in New Orleans and pretty much the only thing that would stay functional at all would be the military with their superior firepower. Theyd be Roman legions on steroids looking for supplies. It just wouldnt be good for anyone. You mentioned the LA example, but the only reason that worked was because there hadnt been a collapse. When you dont know where your next meal is coming from and supply lines are dead you dont trade food for anything except maybe ammo. Realistically though itd be much more people killing each other for their stuff than anything else. PMs have their purpose in rough patches and down economies and a safeguard against taking huge hits you have to wait to recover from, but in a collapse its copper brass and lead that are the metals of value. You probably could make bullets out of silver, I've never heard of gold though that would actually work. |
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Bedrock of the Community
13014 Posts |
Missed this one sorry about that. Quote:
To please his conservative supporters out West, PM Harper did abolish the gun registry but only AFTER everybody registered their guns.
In the beginning they said it would cost 10 million but ended up costing 1 billion... That seems pretty typical of every gov program, multiple it by 10 or more and youll get the real cost. The sad part is think about how much good that 1 billion could have done either to fight crime or set up programs to help keep kids away from it. Instead is was squandered for no reason just because some people dont like guns. Youre preaching to the choir about registrations. Through out history theyve always only served one purpose and its exactly what you described. |
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Pillar of the Community
United States
2168 Posts |
They do sell silver ones. I can't recall the company though. Sometimes I think those buying PMs for a "survival" do so for an after the dust settles scenario.
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Replies: 5,649 / Views: 461,344 |
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Posted 10/25/2013 3:11 pm
