Even if gold drops to $1,630, we'll probably see an insane spike back up toward $1,800 within days. It’ll either be because everyone rushes from paper contracts into physical bullion, or the gap between paper prices and actual physical gold just rips apart. It’s like what happened back in 2008 when silver plummeted 30% on the exchanges, yet you couldn't find a single dealer willing to sell at those rates. They either claimed they were out of stock or just suspended physical sales entirely.
Until we join the USA, you're stuck dealing with both sales tax and customs duties. Once that happens, the customs fees vanish, though whether you'll still be hit with sales tax just depends on how "brilliant" the American government decides to be. 🙂
The headline alone is misleading enough. 😁 It’s not turning water into gold; it’s just extracting gold and other metals from water that, if you think about it, had to get there somehow in the first place. 🙂 Then there’s the real issue: how much energy, time, and money are we actually burning through to make this happen? We’ve known for decades that there’s about six tons of gold per cubic kilometer of ocean, but we don't exactly go mining the sea, do we? It’s pretty simple—the energy and effort required far outweigh any potential payoff. Nature already handled the distribution perfectly well. 😉
Walter Barrett8 said:Are we looking at a new tax or outright confiscation?
A lot of those sellouts love to argue that gold is nothing more than dead capital. They claim it’s bad for the economy because you just buy it and tuck it away in a dark corner, whereas that same cash could be "stimulating growth" by being funneled into stocks, bonds, or whatever else. Of course, anyone holding actual power could easily weaponize the arguments of these so-called "experts" to suit their own needs...
Good luck to them. They tried this exact same thing back in the Roaring Twenties, and we all know how that story ended. It’s the same story with opioids or any other illegal substance—prohibition hasn't exactly done much to stop people from using them, has it?
Exactly. The Federal Reserve. The Chinese are already working on phasing it out, which they've already started doing. The dollar won't collapse right here at home, but its status as the global reserve currency? That's on borrowed time. It’s just a matter of which event finally pulls the trigger. No, I don't have a specific date. 🙂 Amanda Allen4, we're talking about a global reserve currency here...
Not really. First off, the yen isn't a global reserve currency and it’s not what settles the oil market, so it can't just trigger a collapse of the entire global financial system. Second, comparing Japan to the USA is an apples-to-oranges comparison. Unlike the USA, Japan is an export-driven economy where they basically hold their own debt—over 90% of it is owned by Japanese citizens. Between twenty years of zero growth, a shrinking population, dwindling savings to fund that debt, and last year's nuclear disaster... maybe go read up on what Kyle Bass thinks about Japan. 🙂 Sit down, kid. 😁
Most revolutions aren't actually about politics; they're driven by the economy. Isn't that always the case? Better start studying history while you still have the chance. 😁
People were laughing just like this back in the 1920s in the States, thinking they were living in some kind of fairy tale. It was the same thing here in the US a few years ago during that massive real estate bubble and the investment fund craze. Then reality hits. Honestly, I’d rather let them laugh at me while I stay safe than laugh along with them and end up broke.☕
Frank Walker7 said:Getting 70 tons each isn't a bad haul at all... I might just have to go out and treat myself to a new boat with that kind of windfall 😁
People are calling it a gold mine. But if you consider that a top-tier gold mine today yields maybe 15 grams per ton, you aren't exactly walking away a billionaire after refining it. 🙂
There’s some truth to that, but it also serves as a convenient excuse to pull gold away from the Germans, who are constantly dreaming up new ways to run the entire world.😁
Word on the street is that the price for German reunification was adopting the euro—giving the French a bit of leverage to make sure Germany doesn't repeat its mistakes from the 1940s. 🙂
The fact that nearly seventy years after the war, the Germans don't even have their own gold at home tells you everything you need to know about who’s actually in charge. Now they’re making noise about bringing 150 tons back home over the next three years just to "verify" it. Supposedly, they moved 500 tons out of New York City back in 2001 (which lines up perfectly with the sale of British gold... total coincidence, right? 🙂), but there’s still almost 3,000 tons sitting in New York City and New York City...
And we’re talking about the official numbers here. We could easily double or even triple that figure to get a real sense of how much gold has permanently left the US.