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 Replies: 57 / Views: 3,944 |
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Valued Member
175 Posts |
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Pillar of the Community
United States
830 Posts |
Yeah we seem to be having a "gold race" on a global level. I'm glad I didn't own a gold mining stock doing business in Venezuela.  |
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Pillar of the Community
United States
667 Posts |
I did a crazy thing today I bought some gold.  I can't pass up 1/10's with no premium. Looks like it may have been a good judgement based on the article. What a wild ride but in all of this the thing that is different is how long it is lasting - it makes all history charts useless. Things just keep popping up unexpectedly that keeps the train in the tracks for now. It goes to show you that you can not predict the ups or even the downs. Had I followed the fist strong warnings I would have sold at around $1,300. Don't forget Gold is Nationalized in the US. Gold ownership is a privilege not a right. |
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Pillar of the Community
United States
3670 Posts |
Whats that tell us all about the world view of the state of finance with Europe and the USA? Like any of us did not know that, but never the less, very interesting information and actions there, thanks for the link RP2012....
Edited by Silverhawk74
08/18/2011 1:38 pm
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Pillar of the Community
United States
3294 Posts |
Actually, what it tells you is what Hugo Chavez thinks about the state of finance. I don't know what kind of business acumen he has, but his country doesn't seem too great an example of capitalism right now.
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Pillar of the Community
United States
3670 Posts |
Well, perhaps he fears a really bad situation to come, and wants that gold back closer to home. And why not with the state of his own country as mentioned above....
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Pillar of the Community
United States
2589 Posts |
Quite true, if for example venezuala ever fought a war with the united states than the usa would sieze all venezualan assets present in the usa including the countries gold reserves. Bringing them back home is a smart decision tactically, though it is rather expensive and risky shipping massive amounts of gold around.
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Valued Member
United States
397 Posts |
I'm surprised they had it on deposit in so many other countries.
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Pillar of the Community
United States
2589 Posts |
When gold changes hands between countries it often times stays where it is despite the fact that ownership has changed. Its often not cost effective to move the stuff from one place to another. The federal resevere of new york has litterally tons upon tons of countries foreign gold reserves stored in its lower vaults.
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Valued Member
 175 Posts |
Hugo Chavez has done a few good things for Venezuela. He paid off Venezuelas' debt to the World Bank, nationalized the country's oil reserve and now this.
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Pillar of the Community
United States
830 Posts |
Quote:
nationalized the country's oil reserve I wouldn't call that a good thing myself. |
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Pillar of the Community
United States
667 Posts |
Was trying to figure that one out myself.
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Pillar of the Community
United States
4008 Posts |
Quote:
I'm surprised they had it on deposit in so many other countries. I'm not. Having some gold in Swiss bank vaults can be very handy for any dictator who falls out of favor at home. As long as he can slip out of the country ahead of the lynch mob, life will be good. |
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Valued Member
175 Posts |
well 2 out of 3s not bad lol.
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Valued Member
175 Posts |
i thought when you nationalize oil reserves it means instead of buying it from other countries they start drilling their own at home.
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Pillar of the Community
United States
667 Posts |
No it means the companies that put up the investment money to get the oil company going just lost everything and now the government takes all of the profits.
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Replies: 57 / Views: 3,944 |
Posted 08/18/2011 1:36 pm
