Gold

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superfrank
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Joined: Fri Aug 14, 2009 8:28 pm

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...
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.
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.
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superfrank
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gold-in-fx-terms.png
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luckystar
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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...
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superfrank
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luckystar 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...
The 10 Countries With The Biggest Gold Reserves In The World

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...
Image

this still makes me laugh (and cry)... http://www.youtube.com/watch?v=RDm8zGwcdZ4
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Some sell off in Gold at 13:20 today :!:

Some people must have been spanked on that move.
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superfrank
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Joined: Fri Aug 14, 2009 8:28 pm

Germany gold: Central bank to bring home some reserves
http://www.bbc.co.uk/news/business-21040214

the German's quite rightly want to keep their gold at home now.
It has even suggested some of the bars may not have been checked to see if they are real, he added.
:shock:
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Euler
Posts: 24700
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

superfrank wrote:interesting infographic http://demonocracy.info/infographics/wo ... /gold.html
That's neat.
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
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Sorry to say, looks like we have wasted our time; what we needed was a metal detector: -

http://www.bbc.co.uk/news/world-asia-21055206
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superfrank
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Euler wrote:Sorry to say, looks like we have wasted our time; what we needed was a metal detector: -

http://www.bbc.co.uk/news/world-asia-21055206
yeah i read that earlier, what a find!

let's hope he doesn't swap it for some paper ;)
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
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David Govett, head of precious metals at Marex Spectron in London, said there was a mass flight out of gold: "We have seen massive liquidation from all quarters... This is a market that has only got one thing on its mind... get me out."

http://www.bbc.co.uk/news/business-22151474
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

this bloke will be happy, as he will be able to.get some matching shorts to go.with his jacket
http://www.bbc.co.uk/news/magazine-21994873
andyfuller
Posts: 4619
Joined: Wed Mar 25, 2009 12:23 pm

Big sell off in Gold this morning, back to levels last seen in late 2010!
Iron
Posts: 6793
Joined: Fri Dec 11, 2009 10:51 pm

andyfuller wrote:Big sell off in Gold this morning, back to levels last seen in late 2010!
Might be due to Bernanke's comments about winding down QE (which also caused the FTSE to tumble this morning).

Jeff
steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

Been a big sell off for the past 2 years, get ready to put all your eggs into the silver basket. This little beaut will make you some cash.

Some could say it may go back down to around 5 but i dont think so. Buy, Buy, Buy! http://silverprice.org/silver-price-history.html

Looks like the Bomber use to play the silver markets back in the late 70s and early 80s!
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