Quote: Putting the shoe on the other foot, if the USA were to go around to every country and say "we're looking for weapons" and those countries say "okay but you first" the USA would just say "no, it doesn't work that way because we're the good guys", well how absurd does that sound when they invade by force at will.
Are you referring to the invasion of Iraq? If so, what bearing does that have on the discussion of gold bullion buyers?
Good point The Silver Searcher, I dont get what he is alluding too or pointing at or what it means to this discussion.
That said, the entire WORLD puts its reserves into the USD, and buys US debt in the form of T-bills. So I have to disagree with you saying the USA is going to go down or will go down.
The worlds preferred currency, ultra safe haven is the US dollar. It will always be that way its no wonder its called King Dollar.
Finally, the USA has the worlds best, safest currency because of its economic might and MILITARY might that is unmatched and unrivaled and no country can come close. That is why the USD is, again, in times of panic and fear, the worlds safe haven.
Honestly (in my opinion) a good 75% of the populace often acts in irrational ways so the precious metals nuts aren't really that far out of the mainstream of general nuttiness. Some people gamble, others go on frequent expensive vacations, still others eat and drink away their hard earned dollars, compared to these people precious stackers look downright reasonable.
Quote: the bottom line is we arent going to see a collapse of some currency like the dollar. Furthermore, when things get bad in times of panic, the real beneficiaries are indeed certain currencies, such as the dollar and the US government bonds.
Quote: That said, the entire WORLD puts its reserves into the USD, and buys US debt in the form of T-bills. So I have to disagree with you saying the USA is going to go down or will go down.
The US will collapse. The dollar will collapse. All fiat currencies will fail. It's only a matter of time. Russia and China are dumping treasuries, and looking to make the remimbi the new world reserve currency. All it takes is the petrodollar to be replaced with the petroruble or petroeuro or petroremimbi or what have you, and the dollar will collapse.
Anyone who thinks the US will always exist is fooling themselves. Rome failed. Greece failed. Governments always end up failing. It may not happen this decade, or this century, but it most likely WILL occur. All you can hope for is that when it does, you're dead and buried.
Quote: Finally, the USA has the worlds best, safest currency because of its economic might and MILITARY might that is unmatched and unrivaled and no country can come close.
And how many enemies do we have? It took three nations to take down Poland-Lithuania. When a nation on its own cannot take it's enemy, it teams with other nations. And the US is one of the most hated country in the world. And I'm not just talking about the Middle East. How soon will it be before nations invade, if nothing else then to be repaid what the US owes them by way of land. I.e., China. And China has the largest military (by member-count) in the world.
Gold and Silver will always be gold and silver. Bullets will always be bullets, etc. Paper will always be paper. When the promises written on the paper become worthless...well...
That low ? Surprising! I think closer to 75 per cent live on Wing Nut Walk. There is absolutely no reason in the world to own huge amounts of Gold or Silver.
Quote: And the US is one of the most hated country in the world. And I'm not just talking about the Middle East. How soon will it be before nations invade, if nothing else then to be repaid what the US owes them by way of land. I.e., China. And China has the largest military (by member-count) in the world.
So, after China invades we'll be able to take our Zombucks to the 7-11 for pork rinds and a Mountain Dew? Good, that's one less thing to worry about!
Quote: And China has the largest military (by member-count) in the world.
Let's not forget the nuclear tipped trump cards that we have under the plains and the seas.
Anyway, back to the OP topic. I remember heading to my LCS and seeing them rather cleaned out of bullion. I asked why, and they said that some people calling themselves "preppers" came and bought everything.
Quote: The worlds preferred currency, ultra safe haven is the US dollar. It will always be that way its no wonder its called King Dollar.
How long will it actually be the preferred currency? The BRICS countries have been quickly making ways to trade in other ways without using the king dollar. Russia and China have been buying gold like its no one business. Really they don't think it's anyone's business. Getting exact tonnage is impossible.
I heard China bought the equivalent of an entire year's mining supply in a several months in 2014. Are they setting up for a new gold-backed currency, hedging against currency collapse, or do they just like it because of its tradition and because its shiny?
The top buyers and holders of gold are governments and central banks of these nations: India, Netherlands, Japan, Switzerland, China, Russia, France, Italy, Germany, and the United States.
They say have faith in our currency while they buy and hold gold in mass quantities.
The younger people on CCF who live long lives will see the U.S. default on its debt and see the USD lose its status as the world's reserve currency. It could be 20 years from now but regardless of whether its 25 years, 30 years, or 35 years it is going to happen.
A grasp of basic math and history along with a brief study of U.S. Treasury finances will reveal as much. The fact that Wall Street has bought off all of D.C. and owns The Fed will only accelerate the process.
Would reveal that both our debt and our deficit have been much worse in the past relative to the size of the economy. Inflation and other economic indicators have been worse. Social unrest has been worse. Crime has been worse. War has been worse.
People have been predicting the end of the world (or civilization, or our way of life, etc.) for my entire life. 100% of those people have been wrong.
Anyone who is betting against the US, its debt, its dollar and saying it will default is wrong and will always be wrong.
The USA is not going anywhere, the dollar will always be here, again, there is a reason it is called king dollar.
Every single country on this planet needs the USA and invests its currency reserves in USD over any other currency. Once a country starts buying US debt, which they all have, they are locked in and cannot walk away from it.
"The world of 1906...was a stable and a civilized world in which the greatness and authority of Britain and her Empire seemed unassailable and invulnerably secure. In spite of our reverses in the Boer War it was assumed unquestioningly that we should always emerge "victorious, happy and glorious" from any conflict. There were no doubts about the permanence of our "dominion over palm and pine", or of our title to it. Powerful, prosperous, peace-loving, with the seas all round us and the Royal Navy on the seas, the social, economic, international order seemed to our unseeing eyes as firmly fixed on earth as the signs of the Zodiac in the sky." #8213; Violet Bonham Carter, Winston Churchill: An Intimate Portrait
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Posted 02/17/2015 9:20 pm
