I'm reading a great book at the moment called 'Currency Wars - The Making of the Next Global Crisis' by James Rickards.
The book does a great job of outlining the role Gold has played in the monetary system. It really drives home the important role Gold can play in anchoring the monetary system and why the current on going currency wars will likely result in a return to some form of Gold standard.
Gold
- superfrank
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that last line made me laugh... it's rather that fiat currencies are becoming an unacceptable substitute for gold (a currency for 6,000 years) because the Japanese and others just won't stop printing it.“If you look at assets over the past couple of decades, equity has been a loser, while fixed income offers tiny coupons,” said Yoshio Kuno, Japan head of Newedge, the futures broker. “Gold is becoming an acceptable currency substitute.”
last year a Dutch pension fund was forced to sell its gold as the regulator considered it "too risky"!
http://www.efinancialnews.com/story/201 ... -regulator
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Has gold had it day? Will be interesting to see if $1,530 holds if it gets tested again. I am currently short on it.
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http://ftalphaville.ft.com/blog/2012/07 ... old-price/
This seems to lend weight to your position Andy.
This seems to lend weight to your position Andy.
- superfrank
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i agree that in the short-term it looks weak (as with many commodities atm). if silver breaks $26 again it will probably trade at $22.
i didn't realise US crude had dipped below $80 last month. haven't been following things for the last 2 months.
good site for futures prices... http://finviz.com/futures.ashx
look how "cheap" natural gas is now!
http://finviz.com/futures_charts.ashx?t=NG&p=w1
i didn't realise US crude had dipped below $80 last month. haven't been following things for the last 2 months.
good site for futures prices... http://finviz.com/futures.ashx
look how "cheap" natural gas is now!
http://finviz.com/futures_charts.ashx?t=NG&p=w1
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i dont have a real strong opinion myself, although I have been wondering how gold would act in a deflationary environment.
- superfrank
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Gold to be made a tier 1 commercial bank asset again under proposed new Basel III rules...
http://dailycapitalist.com/2012/08/06/t ... ea-change/
http://dailycapitalist.com/2012/08/06/t ... ea-change/
this might be one of the reasonssuperfrank wrote:...
look how "cheap" natural gas is now!
http://finviz.com/futures_charts.ashx?t=NG&p=w1
http://www.youtube.com/watch?v=3AZv6MjZylo
- superfrank
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Fool’s gold standard
http://www.marketwatch.com/story/fools- ... e_carousel
arguments against a new gold standard but he spouts some rubbish in there...
http://www.marketwatch.com/story/fools- ... e_carousel
arguments against a new gold standard but he spouts some rubbish in there...
he fails to mention that the fiat system is all about confidence in intrinsically worthless pieces of paper (or numbers in a database) - the supply of which can be doubled at the press of a button by central banks.Gold is pretty, but it’s just a piece of metal. Its uses are limited. It can be dug out of the ground. In other words, it’s really all about human confidence that gold is worth something.
- superfrank
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gold a piece of metal? gold is a currency and accepted anywhere in the world. The troubles for countries start when they start printing money like there is no tomorrow.... Look at central banks today - they are hoarding gold because people are losing trust in their fiat currencies. Thus central banks can say their claims are backed by physical holdings...
- superfrank
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The 10 Countries With The Biggest Gold Reserves In The Worldluckystar wrote:gold a piece of metal? gold is a currency and accepted anywhere in the world. The troubles for countries start when they start printing money like there is no tomorrow.... Look at central banks today - they are hoarding gold because people are losing trust in their fiat currencies. Thus central banks can say their claims are backed by physical holdings...
http://www.businessinsider.com/gold-res ... 012-8?op=1
Britain doesn't rank very well after Gordon Moron Brown flogged most of ours when the price was at historic lows...
this still makes me laugh (and cry)... http://www.youtube.com/watch?v=RDm8zGwcdZ4
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Some sell off in Gold at 13:20 today
Some people must have been spanked on that move.
Some people must have been spanked on that move.