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Valued Member
United States
106 Posts |
I haven't been back to these forums for awhile..I just graduated high school.
But I just saw the priec of gold, almost 500 dollars. All I can say is, WHY? And holy crap! That's alot of money, what happened?
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Pillar Of The Community
3147 Posts |
And the even stranger part is everyone is still trying to buy and no one is selling? Go figure?
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Pillar of the Community
Belgium
2078 Posts |
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Pillar of the Community
Australia
3831 Posts |
You probably need a bank to offload their gold inventories to make the prices deflate by a few cents. As I remember, one of the Australian banks is selling their gold coin hoards this month.
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Pillar of the Community
Belgium
2078 Posts |
quote:
Originally posted by gxseries
You probably need a bank to offload their gold inventories to make the prices deflate by a few cents. As I remember, one of the Australian banks is selling their gold coin hoards this month.
It might be gold they no longer have for a long time now Swapped out or lent out to get a little intrest on paper and of course the lender is not willing to buy it back at 490 dollar an ounce So selling it officially is a nice way of making it known they do not have it any more |
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Forum Mom
 United States
5877 Posts |
quote:
Originally posted by GoldCoinLover
I haven't been back to these forums for awhile..I just graduated high school.
But I just saw the priec of gold, almost 500 dollars. All I can say is, WHY? And holy crap! That's alot of money, what happened?
Congratulations on your graduation. How did you manage to graduate in the middle of the school year? |
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Valued Member
 United States
106 Posts |
Oh, thakns susan.
I went to a charter school, surprsingly, its on computers, and 4 hours a day, no homework. It's hard to believe that the diploma has the same benefits as a regulra school...but its true!
Its a 'go at your own rate' school, I couldnt' handle the homework and stress at a regular school..especially the homework..
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Valued Member
United States
106 Posts |
Thanks agenka, I'm only 17, and I know about the economy from school but I don't understand M3 and all those terms..could you *please* sum up whats happening right now? Inflation? Demand is greater than supply?
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Pillar of the Community
Belgium
2078 Posts |
The article tells most of the story
To make things simple
Money is made from paper , ink and a printing press
Printing money is by europeans considered crude
So instead we print bonds which are again pieces of paper with ink on it and you still need a printing press ; but those bonds will pay a return
The basis of all modern states is that a modern state has an ongoing debt it will rollover and never pay back ; however if you overdo the proces you loose credibility and your value of money goes down
M3 hides the amount of money by coincidence on the same day that the middle east will price its oil in euro
If you keep printing whatsoever money or bonds and if your money does not collaps then inflation has to follow because too much money is sloshing around in the system
Oh and by the way a dollar coming to europe is an euro dollar and I seem to remember that a bank then can create 10 eurodollars electronically and if they are acquired by a second bank that one can create 100 etc ad infinitum if the asset rate is set at 10%
I am sure there are mistakes in this answer and that it is grossly incomplete but that is my simplified view
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Pillar of the Community
Belgium
2078 Posts |
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Valued Member
United States
106 Posts |
Great, thanks ageka. But how does this explain the soaring price of gold? Inflation from printing too many paper bills? People don't believe in the value anymore of paper bills?
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Pillar Of The Community
3147 Posts |
There is and has never been any value to paper and folks are finally finding that out just as there is nothing in a piece of plastic other than debt. Precious metals are just that----precious and the whole world is fully aware of that fact and the whole world is currently buying at a record pace. One must keep in mind the "big" boys have for years manipulated the market. When gold or silver rises to a predetermined rate they just pull a ton out of the old vault and sell it thus driving prices back down due to the "new" metal back on the market. They wait a few weeks until it lowers to the right level and they buy it all back. The cycle starts over again and as demand exceeds supply prices start to climb again but what we are seeing now with new major markets are opening up, such as China, the competition is almost beyond what the "big" boys are used to controlling!
There are a great number of people in this country who don't realize the huge banks in this country are probably investing your savings in gold and silver and playing the very same game. While they pay you diddly squat for using your money in the guise of a savings account they are turning untold millions with all of us little guy's money and it definitely is NOT in auto loans!
So will we crack the $500 barrier before Xmas? That might make a great pool if we can get it started before the $500 barrier falls. Personally I think we are about to see a major trend upward in all precious metals that will continue for quite some time. And, to top it all off, NO ONE is selling and everyone is trying to buy? Whats that tell you! I am picking up a 1909 $10 Indian and a 1909 $5 Indian this Saturday morning as they are seldom seen at dealers in this area and when the opportunity knocked (last week) I opened the door and said "Come on in my little golden friends!" When I own precious metal I can see what I have, I know where my money is and, as I have said before, I am in control and decide when to sell or buy and I DON'T pay a middle man to do it for me. Regardless of what the markets do I enjoy every minute I put into my coins and bullion. Win, lose or draw I have been tremendously entertained by this hobby!
Edited by crystalk64
11/24/2005 11:11 pm
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Pillar of the Community
United States
2724 Posts |
quote:
Originally posted by crystalk64
And the even stranger part is everyone is still trying to buy and no one is selling? Go figure?
A lot of people are still betting on Gold hitting an all time high. Today it sits at $495.60 an ounce. I can easily see it breaking $510 before years end, but never seeing $5000 as many quoted earlier in the year. |
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Pillar of the Community
Belgium
2078 Posts |
@ Terry
The old boys may be losing the battle because the bankvaults only are filled with IOU's of gold allready lent out and sold and still on the books af if the IOU's still represent gold that is going to be return ed to those vaults one day and so people are not supposed to know
Also the goldmines stopped selling gold that still has to be dug out of the ground ( forward selling ) and in fact are buying back those forward sales allready on the books
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Pillar of the Community
Belgium
2078 Posts |
@ ND I do not know what you mean by an all time high but that would be more then 850 dollar an ounce Well it took me four trials to get rid of the files must be of reasonable size and still get a jpeg showing the 850 peak  Edited by ageka
11/25/2005 11:46 am
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Pillar Of The Community
3147 Posts |
ageka, Thank you very much for your input! I am sure there are a great number of new collectors and new gold buyers on this forum who needs to see and to learn and your information is timely as well as educational. I didn't realize how good I had it in the late 90's, 2000 and 2001 when gold was so affordable and now regret not buying more and sure do regret selling a bunch in 2003! Thats how we learn! Choices, choices and more choices!!! Some right, some wrong and some inbetween!!!
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Replies: 25 / Views: 1,900 |
Posted 11/23/2005 07:39 am
