Gold: Past, Present, and Future

Melissa Sanchez17 said:http://www.bloomberg.com/news/2012-0...for-funds.html

especially when you're messing around with the Euro.

That’s certainly true when you consider the Euro...😍

dustyheron5 said:That’s certainly true when you consider the Euro...😍

I had a nagging feeling you'd pop up and say something like this. Just last Friday, everyone was screaming short USD
long Euro 😍

Here is a reflection from a former hedge fund manager regarding the looming crisis and its inevitable impact on the markets. This man, Raoul Pal, retired at the young age of 36.

He states: "The only things left standing will be the dollar and gold. We have roughly six months of trading left on Western exchanges to either protect ourselves or make enough profit to weather the upcoming losses. After that, put on your helmets and hunker down until a new system emerges. I hope I'm wrong, but I can't see any other scenario playing out..."

Read more at: http://www.businessinsider.com/raoul...d-game-2012-6#

Melissa Sanchez17 said:I had a nagging feeling you'd pop up and say something like this. Just last Friday, everyone was screaming short USD
long Euro 😍

not Friday... we'll see when Monday rolls around.😍

nimblepanther18 said:Here is a reflection from a former hedge fund manager regarding the looming crisis and its inevitable impact on the markets. This man, Raoul Pal, retired at the young age of 36.

He states: "The only things left standing will be the dollar and gold. We have roughly six months of trading left on Western exchanges to either protect ourselves or make enough profit to weather the upcoming losses. After that, put on your helmets and hunker down until a new system emerges. I hope I'm wrong, but I can't see any other scenario playing out..."

Read more at: http://www.businessinsider.com/raoul...d-game-2012-6#

Jesus, talk about a total nightmare. Even I couldn't dream up a doom scenario this dark. 🤣
Jokes aside, what really keeps me up at night is the fact that there's nowhere to run. Because like Armstrong said:
Government is closing EVERY escape route for capital. It will confiscate everything possible.

Like hell they're going to start confiscating stuff...
There are plenty of illegal drugs floating around out there just like any other illicit substance.
The government doesn't have the manpower or the budget to go door-to-door seizing people's property.

1617. After a quick breather to consolidate, we should be ready to push higher again

Shorter? It’s been over 44 hours... that's anything but short.
Why now, though? There isn't even a single sign that one side has gained the upper hand...

hollowmoose21 said:Jesus, talk about a total nightmare. Even I couldn't dream up a doom scenario this dark. 🤣
Jokes aside, what really keeps me up at night is the fact that there's nowhere to run. Because like Armstrong said:
Government is closing EVERY escape route for capital. It will confiscate everything possible.

My friend, I think we’ve officially reached the fourth domino...😍😍

http://www.youtube.com/watch?v=1qoq9...layer_embedded

Anthony Evans78 said:Like hell they're going to start confiscating stuff...
There are plenty of illegal drugs floating around out there just like any other illicit substance.
The government doesn't have the manpower or the budget to go door-to-door seizing people's property.

Your comparison sucks. Why do you think I’m not out here manufacturing and peddling drugs? It’s because even though it's a massive payday, it's not worth it. 😁
And why would they need to knock on your door? They don't have to touch your gold as long as you keep it tucked away in a basement safe. But the second you try to take it out and spend it? Yeah, that's when the heat comes. 😁

The comparison holds up.
Some substances are banned while others—like booze or cigarettes—are perfectly legal.
Even cocaine was totally fine until about a century ago.🙂
There’s zero chance any government is ever going to successfully seize assets like cash or drugs. Besides, trying to ban precious metals backfires twice: first, because forbidden fruit always tastes better 🙂 and second, it just proves how worthless paper money actually is. 🙂

Anthony Evans78 said:The comparison holds up.
Some substances are banned while others—like booze or cigarettes—are perfectly legal.
Even cocaine was totally fine until about a century ago.🙂
There’s zero chance any government is ever going to successfully seize assets like cash or drugs. Besides, trying to ban precious metals backfires twice: first, because forbidden fruit always tastes better 🙂 and second, it just proves how worthless paper money actually is. 🙂

They might try pulling an old 1933 playbook, using the excuse that they need gold reserves to back another massive
monetary expansion intended to finally "solve" the crisis... 🙂
By then, people will have been desperate for so long they might actually hand it over voluntarily, just hoping to see some kind of end to this mess
and whatever else is lurking around the corner.

hollowmoose21 said:Your comparison sucks. Why do you think I’m not out here manufacturing and peddling drugs? It’s because even though it's a massive payday, it's not worth it. 😁
And why would they need to knock on your door? They don't have to touch your gold as long as you keep it tucked away in a basement safe. But the second you try to take it out and spend it? Yeah, that's when the heat comes. 😁

Sure, legally speaking. But the Black market works wonders 😍 Just look at how people used to smuggle old currencies back in the day. I mean, even in parts of South America, people are still trading black market USD.
Besides, why would anyone bother chasing gold? That prehistoric relic 😕

Anthony Evans78 said:The comparison holds up.
Some substances are banned while others—like booze or cigarettes—are perfectly legal.
Even cocaine was totally fine until about a century ago.🙂
There’s zero chance any government is ever going to successfully seize assets like cash or drugs. Besides, trying to ban precious metals backfires twice: first, because forbidden fruit always tastes better 🙂 and second, it just proves how worthless paper money actually is. 🙂

Sorry, but that "forbidden fruit" argument sounds more like hippie nonsense than actual economics.
In that light, do you honestly think gold is more popular in California, where we deal with luxury taxes, compared to somewhere like Austria where you can buy gold without being hit by those kinds of taxes?
And I’m not even talking about outright confiscation. I’m talking about all the different moves that could kill the incentive to hold or trade gold.

Melissa Sanchez17 said:Sure, legally speaking. But the Black market works wonders 😍 Just look at how people used to smuggle old currencies back in the day. I mean, even in parts of South America, people are still trading black market USD.
Besides, why would anyone bother chasing gold? That prehistoric relic 😕

Black market? Let me ask you something. How many of you guys who bought physical gold actually decided
to haul that gold across the border or bring it into the US to hide it at home? Reading this thread, I bet most of you just stashed it in a safety deposit box in whatever country you bought it in. Why?

hollowmoose21 said:Sorry, but that "forbidden fruit" argument sounds more like hippie nonsense than actual economics.
In that light, do you honestly think gold is more popular in California, where we deal with luxury taxes, compared to somewhere like Austria where you can buy gold without being hit by those kinds of taxes?
And I’m not even talking about outright confiscation. I’m talking about all the different moves that could kill the incentive to hold or trade gold.

Black market? Let me ask you something. How many of you guys who bought physical gold actually decided
to haul that gold across the border or bring it into the US to hide it at home? Reading this thread, I bet most of you just stashed it in a safety deposit box in whatever country you bought it in. Why?

I'll be the first to admit I did exactly that. Eventually, I moved it over to California. My reason? "Fear," plain and simple.
But seriously, isn't a massive tax like that basically just one big way to discourage people from buying?

Melissa Sanchez17 said:I'll be the first to admit I did exactly that. Eventually, I moved it over to California. My reason? "Fear," plain and simple.
But seriously, isn't a massive tax like that basically just one big way to discourage people from buying?

Duh. Of course it is. That’s my whole point. You really think more people wouldn't be dumping cash into gold if they weren't getting hammered by that tax?

hollowmoose21 said:Duh. Of course it is. That’s my whole point. You really think more people wouldn't be dumping cash into gold if they weren't getting hammered by that tax?

I honestly don't think the number of investors would change much. I mean, people aren't going to start dumping cash into precious metals just because they saved a few bucks on taxes—though, hey, who knows. If we had a massive retailer like Walmart opening up dedicated bullion counters in every major US city🤷

The people out there—myself included—who were looking to pick up some gold or silver actually went out and did it. The only real difference would be that instead of a tiny handful of people bringing gold and silver into the US, everyone and their mother would be doing it.

lonehawk5 said:Shorter? It’s been over 44 hours... that's anything but short.
Why now, though? There isn't even a single sign that one side has gained the upper hand...

That colleague of ours is pretty interesting—kind of a wild card. Maybe he’s actually got his ear to the ground at the source 😉
like "Mary at the drug store"

I’ve bought silver and I’m holding it off the books... so what exactly is Linić going to do about it, if you can even call it that?😂.........he’ll never lay eyes on that silver.🤣.....and when—or if—I decide to sell, it’ll go to someone who actually understands the difference between Linić's bonds and physical silver......
😍
besides, in this part of the world, we've seen six different countries and twenty different currencies cycle through in the last 90 years......yet gold and silver still hold value for some kid down the street.....unlike those mighty banknotes that were once considered "precious," but now nobody even remembers their names...😉

Man, what a presentation. This guy’s basically assuming we’re heading straight toward nationalizing the banks and banning CDSs and put options. What a total disaster—yeah, right.
According to his logic, we’d be regressing about 3,000 years back into the Stone Age.
He seems to conveniently forget a few things:
1. Banks have massive political clout. They’ve been "bailed out," "recapitalized," and "restructured" more times than I can count—and honestly, they’ll just do it again.
2. The whole crisis was fueled by the banks themselves and the kind of speculation that’s now driving interest rates on sovereign debt to absolutely insane levels. A primary offering would be a hell of a lot better than this current scam.
3. The modern economic system is becoming a complete joke. It’s just concentrating wealth in the hands of the top 0.1% while everyone else gets squeezed dry. You can't keep doing that forever—it’s essentially cannibalizing its own customer base.

As for gold, I assume it’ll climb during the crisis—specifically, when they start pumping more money into the system through further QE. People expect gold and silver to hold their value and rally every time there's a stimulus. Personally, though, I’m expecting a much bigger move if we see a bank run on precious metal funds that don't actually hold any physical bullion.