Gold: Past, Present, and Future

Anthony Evans78 said:What a load of nonsense, my friend Patrick Moore3 🙂
First off, gold prices in dollars have hit an all-time high.
Second, obviously QE3 is driving up the price of gold. By itself? 🙂 Not a chance. If you actually believe official US statistics, there hasn't even been any inflation. They're even saying unemployment is down. Meanwhile, if you're just an average person paying for gas, groceries, drinks, and rent, inflation in the US is sitting well above 8%.
Inflation is quite simply the act of printing money. And if the last few trillion—plus the next $40 billion a month, plus another five—doesn't count as inflationary to you, then what does? Sure, if it doesn't enter circulation, it isn't "inflationary," but then why bother printing it at all? Oh, right, I forgot... it's all to bail out banks that should have gone bankrupt ages ago.
Do you honestly think energy prices are rising because demand is through the roof? Wrong. They're rising because everything is priced in dollars, and since the government is printing dollars like crazy, the value is tanking. It’s only natural that the price in those same devalued dollars goes up... is that really so hard to wrap your head around?
Deflationary theories don't exist as long as central banks are breathing. Do you seriously believe the people running the printing presses would ever let the little guy see the value of his money go up? 🙂

Patrick Moore3 said:Just running. Today. Buy a kilo of gold... then what? on Maybe JP Morgan could finally wrap up a quarter in the green!

Where exactly are you finding all this hype? We laid our cards on the table back at the end of 2011, and we aren't even due for a look at the results for another three and a half months. You're basically just back to where you were in February. Why the sudden celebration? 😉

Over the last week—actually, looking at all the hype from this past month—it feels like everything that could possibly go right for gold finally did. Every single bullish argument we've heard all year has been fired off. So now what? Is QE3 just supposed to magically send prices through the roof on its own? As if. The first two rounds didn't even trigger the inflation everyone said would drive gold higher. Why? Because people were supposed to have more cash in their pockets, but instead, they actually have less. Neither a third round of QE nor any future rounds are going to change that reality. The people who dreamed this stuff up proved pretty quickly that it doesn't touch inflation or deflation because it doesn't spark new lending. That’s where the real inflation comes from. Right now, the only thing keeping inflation alive is the absolute madness in energy prices. But looking mid-term? We're heading straight back toward deflation.
A few days of good vibes, then we’re right back to the usual grind.

dustyheron5 said:

I don't follow. What exactly are you getting at? As specified by dustyheron5:
I didn't misunderstand you—I clearly recall that $50 statement. If you look back at the quotes above, you'll see them. I included those specifically because I know exactly who I am dealing with. 🙂 😁 And I wasn't being skeptical—quite the opposite (just look at the quotes again).

I should have used the term "camp"—I respect the differing perspectives here. Generally speaking, there are two camps: the inflationary and the deflationary. I assume Charles falls into the deflationary camp. However, some from that side might change their minds if they actually listened to Ben’s press conference today.

You're absolutely right. 😉

You’ve managed to drag me into this too—now I find myself mentioning Charles in a negative light.😍He isn't a bad investor at all—not by any means. He simply miscalculated this time around.

Back when gold was trading between $1,850 and $1,900—he nailed it—predicting that things were headed for a massive downturn.

The estimates are generally solid—but let’s be real—even the best data can have its fair share of errors slip through the cracks.

quiettrucker12 said:Actually, it's the opposite. When it comes to commodities, Ben only really cares about oil prices and will try to use politics to keep them under control. He mentioned yesterday that the drought 🤣 caused a slight bump in commodities, which squeezed oil slightly—it's all basically the same thing. People think he's obsessed with the price of gold, but that's far from the truth. He couldn't care less about gold.

Wrong again. Go back and look at your post 3543.🙄

quiettrucker12 said:Actually, it's the opposite. When it comes to commodities, Ben only really cares about oil prices and will try to use politics to keep them under control. He mentioned yesterday that the drought 🤣 caused a slight bump in commodities, which squeezed oil slightly—it's all basically the same thing. People think he's obsessed with the price of gold, but that's far from the truth. He couldn't care less about gold.

Wrong again. Go back and look at your post 3543.🙄

dustyheron5 said:I am referring to your reaction to my post... I brought up my Colleague first, but I wasn't being negative—I simply stated that he was mistaken.
That isn't "negative context," it's just the truth—and I don't mean he can't be right (theoretically, he could be through the end of the year), but rather regarding his suggestion to short metals back when Soros and I were buying.😉

Besides, you’re better off not trying to nitpick my words🤣 since you ended up being spectacularly wrong yourself—you took a hit, and metals had to correct. Well, look at the facts: you were wrong, they didn't correct when you said they would; instead, they went even harder up. Did I quote you accurately? 😂

dustyheron5 said:I am referring to your reaction to my post... I brought up my Colleague first, but I wasn't being negative—I simply stated that he was mistaken.
That isn't "negative context," it's just the truth—and I don't mean he can't be right (theoretically, he could be through the end of the year), but rather regarding his suggestion to short metals back when Soros and I were buying.😉

Besides, you’re better off not trying to nitpick my words🤣 since you ended up being spectacularly wrong yourself—you took a hit, and metals had to correct. Well, look at the facts: you were wrong, they didn't correct when you said they would; instead, they went even harder up. Did I quote you accurately? 😂

quiettrucker12;41300408 said:

It was quite a feat to predict how you'd pivot to an entirely different topic and context—trying to blend them all together after pushing those falsehoods.QUOTE]

I already admitted you were right... I'm saying it again—you were right. Is that enough for you?

Fine, for my homework, I'll just write "quiettrucker12 was right" a hundred times over.

Is that satisfactory?😍

PS: You were right. 😉

Am I cleared to continue with this thread now? 😁

quiettrucker12 said:Now the real question is when we see some minor profit-taking and a little correction. Are we heading straight for 1780, or will we briefly spike past 1805 before sliding down toward the 1720 mark?

Anthony Evans78 said:If I were as articulate as this guy, I’d probably say something like 🙂

"I hope you didn't bet the farm on this, Dawg. These people are going to print money so aggressively it'll wake the dead. They're going to print like absolute maniacs—nonstop, relentless, until their eyes bleed.

The money supply will expand through swaps, bank bailouts, corporate mergers, fixed Treasury yields, and genuine negative interest rates. They'll pump it out through unsecured bank loans, payroll tax cuts, and eventually, they might just drop literal piles of fiat cash from helicopters. They won't give a damn what anyone thinks. And here is the reason.
Because this is the end of the line, my friend. There is no accountability after this point. There won't even be a history of it. No one will be left to track exchange rates, or document the corruption and chaos, and nobody will be left to worry about deficits, GDP, or the national debt of any country under the sun. The. End. Does anyone complain about how Rome debased its currency at the very end? Not a soul. But the people pulling the strings back then took what they could, grabbed a vineyard, and sat back to wait for the Middle Ages to roll in 700 years later.
That is the nature of a singularity. Once you pass through it, everything loses its meaning. Nothing we consider vital right now will matter once we cross that event horizon. No one will remember, no one will write it down, and no one will ever be held to a standard again. Ever. So yeah, they'll print like the unhinged terrorists they are. They have nothing left to lose and potentially something to gain—maybe a single dollar, maybe an extra day, or a slim chance to escape with a piece of the loot. Whatever advantage they can squeeze out for themselves and their elite cronies, they will go all in. Watch for IT, Dawg. It's happening for real this time, just like Donkey Kong. and When The dust is settled in a generation Henac it's going to have become another unbelievable episode among The ages of men."

Anthony Evans78 said:If I were as articulate as this guy, I’d probably say something like 🙂

"I hope you didn't bet the farm on this, Dawg. These people are going to print money so aggressively it'll wake the dead. They're going to print like absolute maniacs—nonstop, relentless, until their eyes bleed.

The money supply will expand through swaps, bank bailouts, corporate mergers, fixed Treasury yields, and genuine negative interest rates. They'll pump it out through unsecured bank loans, payroll tax cuts, and eventually, they might just drop literal piles of fiat cash from helicopters. They won't give a damn what anyone thinks. And here is the reason.
Because this is the end of the line, my friend. There is no accountability after this point. There won't even be a history of it. No one will be left to track exchange rates, or document the corruption and chaos, and nobody will be left to worry about deficits, GDP, or the national debt of any country under the sun. The. End. Does anyone complain about how Rome debased its currency at the very end? Not a soul. But the people pulling the strings back then took what they could, grabbed a vineyard, and sat back to wait for the Middle Ages to roll in 700 years later.
That is the nature of a singularity. Once you pass through it, everything loses its meaning. Nothing we consider vital right now will matter once we cross that event horizon. No one will remember, no one will write it down, and no one will ever be held to a standard again. Ever. So yeah, they'll print like the unhinged terrorists they are. They have nothing left to lose and potentially something to gain—maybe a single dollar, maybe an extra day, or a slim chance to escape with a piece of the loot. Whatever advantage they can squeeze out for themselves and their elite cronies, they will go all in. Watch for IT, Dawg. It's happening for real this time, just like Donkey Kong. and When The dust is settled in a generation Henac it's going to have become another unbelievable episode among The ages of men."

Robert Vaughn10 said:$40 billion a month, yet there’s no end date in sight. If we don't see actual improvements in the unemployment rate, we're going to have to push forward with the blockade...

dustyheron5 said:Does this look right?😍

Sandra Sullivan said:Pretty interesting read.

But he totally misses the alternative: a complete systemic collapse, a massive depression, and the cherry on top—probably World War III.

Honestly, inflation feels like the less painful option.

ironstag8 said:And why bother mentioning an alternative? What kind of alternative did Ancient Rome have right before everything went south? Their only "alternative" was watching some barbarian tribe march right through the gates—which, incidentally, happened alongside rampant inflation (you know, the constant debasing of silver and gold content in their coinage) and the systematic destruction of their financial infrastructure. The only real solution for a system like this is to let it fall apart. Inflation isn't a fix, and it certainly won't save us.