Federal Reserve wont let Germany see all its gold...lolol

[arce1988]

  I like RTV

[24KT]

What gives gold its value?

Gold's value is intrinsic and is based on it's rarity, as well as the amount of time & labour to extract & refine it.

[24KT]

You are missing the point.
Try this, without the existence of money, how much is gold worth?

See, not a lot, its money that has the worth, not the gold.
It's the medium of exchange.
If you had a big bar of gold the first thing you would have to do for it to have any value is exchange it for cash.   

GOLD is money. What most people refer to as money (paper currencies) is merely a substitute for money.
Cash is no different than the ticket you get from your dry cleaners when you put your shirt in.
The claim check is not the shirt, ...and by the same token FRNs (Federal Reserve Notes) are not money.

Gold always retains it's value & purchasing power, regardless of it's price.
An ounce of gold today, will buy you the same thing it did 2,000 yrs ago, or even 100 yrs ago.
We cannot say the same thing about paper currencies which are designed to steal the wealth of a population that uses them.

Our wealth is our energy. We trade our labour, sweat of our brow for paper currencies that are purposely devalued. that equals theft of our wealth.

http://www.wealthcreationtrends.com

[24KT]

Like it or not, gold was assigned an intrinsic value by people and civilizations thousands of years ago.  It is a vessel of wealth, and exists in a relatively finite amount.  Fiat currency is a volatile measure of wealth, subject to extreme changes and constantly in danger of being rendered worthless.  Gold will always be a safe haven to store wealth, and is incredibly important.  It is no anomaly that China and Russia have been buying up these reserves as fast as they can get their hands on it.  Gold will always be invaluable as a hedge against the crooked nature of fantasy money that is conjured in the form of notes, stock market trends, etc. 

QFT

[24KT]

Gold is money, the dollar is just currency.

QFT

[24KT]

Dude, gold goes up and down. So does oil, so does the DOW.  Thats the point. It oscilates just like ANY other commodity. If you buy gold you are buying an asset with a very high volatility, even higher than the usual stock indexes.

Its a SPECULATIVE play, not a safe harbour. Why is it so hard to understand that?

You're referring to a rigged paper market.
It goes down because Goldman Sachs co-ordinates the take down, along with central banks. It is designed to bring the price down, trigger stop losses, and shake out all the weak hands, so the central banks can buy it up at rock bottom prices.

What you need to worry about is when the central banks go long on gold, we will see a meteoric rise in it's exchange value. Those of us who acquire smaller more transaction friendly weights will be far more flexible when that time comes... and my gut is telling me it is coming real soon. EXTREMELY soon

I'm raking in as much of it as I can, ...and I'm getting it for FREE.

[240 is Back]

Invest in Bodybuilding DVDs.   They appreciate in value.  When the apocalypse arrives, roughly 75% of the population will suddenly admit to being schmoes.

When that happens, this here DVD copy of the 2005 Charlotte Pro is going to be QUITE valuable

[24KT]

Now you're back tracking.  What did gold do over the last 12 years?  Answer the question.  It will refute your attempt at discrediting gold's store of value by limiting the scope to just the last year.  Gold has been a store of value for thousands of years.  Why is it so hard to understand that?   Since 1913, the dollar has lost 97% of it's value.  How's gold done over that time?  You keep your dollars, I'll keep my gold.

AMEN BROTHER!!!

[24KT]

Your gold is worth fuck all without the ability to exchange if for dollars.
You have some gold, you want a house and car, without dollars it aint gonna happen.

Wake up mate.

YOU SURE ABOUT THAT?   

[24KT]

Tell that to Iran, who is getting paid in gold for its oil.  If and when I liquidate gold, I'll have more dollars in the end, than if I had held dollars all along.  You need to wake up.

QFT

[24KT]

LOL. It is kinda sad, buncha body fetish cultists (me too) talking shit about economic theory. Quite the Mensa chapter.

I have always found this guy to be illuminating: http://www.zerohedge.com/

twitter: @zerohedge

Tyler Durden is fantastic! He's been a great source of research & intelligence over the years.

[24KT]

There is no way that a gold bug will ever convince a skeptic and vice-versa. For a lot of folks, a hedge against equities is bonds and a hedge against inflation is land. For me and mine, I hold physical gold and silver as my hedge. I don't buy it as a traditional investment vehicle. I am not "long gold", I am "really long gold". I don't care what the spot price is. If (hyper) inflation never comes, I will give my physical holdings to my son.

I couldn't have said it better myself!
You echo my sentiment EXACTLY!

The last time that I bought gold it was about $800/oz. The last time I bought silver, it was $25/oz. Meh, I don't worry about it, because it isn't part of my "investment holdings".

Ukjeff brings up many good points about the value of gold being largely ephemeral on a historical perception. It is a valid point. But all stores of value (including money) are simply that because of the trust of the underlying system. If the trust in the fiat currency is lost, then the game is afoot.

Personally I dollar cost average myself. I acquire some EVERY WEEK regardless of the pricepoint.
When it dips... I load up. I'm convinced we're going to see highs that exceed anything in Sept 2011, so dollar cost averaging, ...even at Sept 2011 prices doesn't matter to me.

[Teutonic Knight]

Just mention Gold & 24KT pops up,

[avxo]

Gold's value is intrinsic and is based on it's rarity, as well as the amount of time & labour to extract & refine it.

I take it you're stockpiling Palladium, Platinum, Ruthenium, Rhenium and Osmium, right? Rhenium and Osmium, in particular are much rarer than gold and more difficult to mine, yet they sell for less, per ounce, than gold – a hard to resist bargain if those things you said are the only metric!

You're referring to a rigged paper market.
It goes down because Goldman Sachs co-ordinates the take down, along with central banks. It is designed to bring the price down, trigger stop losses, and shake out all the weak hands, so the central banks can buy it up at rock bottom prices.

Ah yes... the rigged paper market and its dark overlord Goldman-Sachs...

What you need to worry about is when the central banks go long on gold, we will see a meteoric rise in it's exchange value. Those of us who acquire smaller more transaction friendly weights will be far more flexible when that time comes... and my gut is telling me it is coming real soon. EXTREMELY soon

Your gut has been telling the same nonsense for a while now and its track record is actually quite horrible. Perhaps you should stop relying on an organ whose purpose is the digestion of food for thinking and switch to the brain instead. But be careful at first because, as with any atrophied muscle, you will need to take it slow and easy.

Of course, if there is a meteoric rise coming and real soon, as you claim, buying gold in 'smaller more transaction friendly weights' is a horrible idea: you'd want as much gold as you could buy right away. Plus, buying in small amounts is silly as I explained in another post, where I very carefully crunched the numbers and proved that using your silly system you are essentially getting screwed. Here's the relevant excerpt from the original post:

With Karatbars, it would take you 32 months to get an ounce of gold. If you saved that money instead then in 32 months you'd have saved enough to buy almost twice the gold... So you aren't empowered to acquire far more gold. You're duped into buying far less.

I'm raking in as much of it as I can, ...and I'm getting it for FREE.

Not this same cock-and-balls story again... do you even understand that what you're saying works against the implicit argument behind the marketing material you parrot that gold has some intrinsic value? The facts are simple and uncontroversial: if someone is giving you gold for free, it means that person owns gold which he considers worthless and throws it your way.

Gold always retains it's value & purchasing power, regardless of it's price.
An ounce of gold today, will buy you the same thing it did 2,000 yrs ago, or even 100 yrs ago.

What a bunch of bullshit... I mean, come on. This is trivial to debunk. Simply plot the price of gold against the inflation adjusted value of the dollar. I understand that you aren't an economist but this is really simple, trivial stuff.

Now you're back tracking.  What did gold do over the last 12 years?  Answer the question.  It will refute your attempt at discrediting gold's store of value by limiting the scope to just the last year.  Gold has been a store of value for thousands of years.  Why is it so hard to understand that?   Since 1913, the dollar has lost 97% of it's value.  How's gold done over that time?  You keep your dollars, I'll keep my gold.

Oh boy. Another guy with little or no understanding of economics who repeats schlock he finds on the Internet. I do have one or two fun questions for you. First, can you tell us what happened in 1934?

Also (and this question is both for you, and 24KT) in 1913, the price of gold averaged less than $19.00 per troy ounce. According to the CPI Inflation Calculator, $19.00 1913 dollars are worth slightly less than $450 2013 dollars. Yet, gold is selling significantly higher than that. How do you explain this discrepancy vis-à-vis gold's "inflation hedge" status?
 

Gold is money, the dollar is just currency.

No. Gold is a metal. Money, on the other hand, is any medium of exchange through which people can exchange their best efforts for the best efforts of others. Currency is merely a particular system of money. If you're going to try to discuss economics, you may want to consider spending some time to get to know the basics so that you don't make a fool of yourself.

There's a webinar starting right now that will show you how to accumulate currency grade gold at no out of pocket cost

http://www.karatbarswebinar.com

For more info visit: http://www.viewtheinfo.com

Yes, ladies and gentlemen. You read that right. There's a webinar right now that will show you how to get gold – which is a magical store of value, a hedge against inflation and the currency of the future (in convenient plastic form!) – for free! But wait! There's more. If you watch now, you'll get a free gift: how to scam others by offering them free valuable gold!

[24KT]

Diversify.

Get some precious metals.  I like silver but gold is fine, once the value drops back down. 

Buy a few land parcels.  Land doesn't die.

Buy a few guns, some ammo, some rice and protein jugs.

Buy a few grand$ in foreign currencies.

invest in a few other areas.  Then relax and sleep well at night knowing not ALL of them will crash.  And if half do, the other half will skyrocket.  Diversify then relax

Putting it into foreign currencies used to be a strategy, ...unfortunately all the currencies are devaluing at the same time. They're all headed for the same place. The final safe haven currency was the Swiss france, ...but a while ago, they decided to peg their franc to the euro... even though they aren't part of the EU. They will devalue their currency and not allow it to rise above 1.2. The only thing left is gold. PHYSICAL bullion, not the vapourware that is ETF's. ETF's are fractional reserve vapourware without the gold to back it. That's why we saw an orchestrated smash in the price... to trigger stop losses, and free up what little gold is there to transfer into the hands of central banks to prop up their balance sheets and be in compliance with Basel III accords.

[24KT]

I snicker with contempt every time someone calls gold an investment.

You and me both.   

[24KT]

I have a business partner, who after years of having to suffer through my contrarian diatribes stated with some pride that he bought gold, then proceeded to tell me about his ETF. 

  Ouch!!!

You know who he's going to blame when he loses his shirt in the ETF don't you? 

[24KT]

But your golds value is based on currency, its useless to you until you sell it.

Gold's value is not based on currency, ...it is PRICED in currency. Big Difference. It's value remains constant despite price fluctuations. Price fluctuations reflect NOT a change in the value of gold, but rather a change in the paper currencies used to acquire the gold.

Gold is wealth. When the fiat paper currencies break down, as they are currently rapidly doing, there will be a financial reset. Gold will play a huge part of that.

Back when Rhodesia became Zimbabwe, $1 Zimbabwe was equal to $1.45 USD

Personally, I would have prefered to have the equivalent of $100 Trillion worth of gold back then,
than the genuine $100 Trillion Zimbabwe Reserve bank note that I have. 999.9 pure 24KT LBMA GDL currency grade gold bullion can be converted into any paper currency worldwide, and is accepted by all banks & goverments as settlement of debt.

[24KT]

Untrue.....I have done business where gold was the "money" exchanged for goods. It's a lot more common then you think.

And those like myself, and other members of our Karatbars family who own smaller, more transaction friendly weights of gold have the ability to be extremely flexible, and enjoy a smoother transition to whatever new system is put in place, ...as more & more K-Exchange businesses come on board worldwide. Infact, we will have the ability to trade mere fractions of a gram for the goods or services we need.

[avxo]

Gold's value is not based on currency, ...it is PRICED in currency. Big Difference. It's value remains constant despite price fluctuations. Price fluctuations reflect NOT a change in the value of gold, but rather a change in the paper currencies used to acquire the gold.

That's just plain stupid. There's no single inherent price of gold, so that it remains constant. There's supply and there's demand, and that is what drives the price of the metal itself.

Back when Rhodesia became Zimbabwe, $1 Zimbabwe was equal to $1.45 USD

Personally, I would have prefered to have the equivalent of $100 Trillion worth of gold back then,
than the genuine $100 Trillion Zimbabwe Reserve bank note that I have. 999.9 pure 24KT LBMA GDL currency grade gold bullion can be converted into any paper currency worldwide, and is accepted by all banks & goverments as settlement of debt.

Actually no. Gold is not accepted by all banks and governments as settlement of debt, and even if it is, it is first converted to whatever currency the debt is denominated in, perhaps via the currency that is legal tender in the country in question. Stop lying through your teeth.

As for the Zimbabwean Dollar... that's a prime example of what happens when you put clueless idiots in charge of an economy – even a small, shitty one. It is great fun to buy trillion dollar bills on eBay for pennies though, but only if you can find them with free shipping.

[24KT]

Just mention Gold & 24KT pops up,

Actually someone sent me a link to this post and asked me to participate.
Since this thread is not subjected to the whim of the political board mods who attempt to subvert threads they don't like. I jumped in.

[avxo]

Actually someone sent me a link to this post and asked me to participate.
Since this thread is not subjected to the whim of the political board mods who attempt to subvert threads they don't like. I jumped in.

LOL... those nasty mods and their anti-gold agenda!

[99 Bananas]

FR



Fort Knox





In the above photo - Each gold bar weighs about 27.4 pounds and is worth about $160,000

[24KT]

Ask yourselves why? ...if the gold exists and has NOT been re-hypothecated, leased out or sold, is it going to require 7 years for the USA to return 325 tonnes of Germany's gold?

Venezuela repatriated it gold, ...and we saw Central Bank vaults in NY & London drained.

Gold also shot up to all time highs at the time. then Kazakstan, and a few smaller countries requested their gold back, ...then Germany requested her gold, ...and they said it would take 7 yrs?

That's when we really started seeing an all-out co-ordinated effort to smash gold. It didn't work tho because all it did was increase the demand for physical. How can you possibly call it a bear market, when demand is at an all time high?

Just recently, the Bank of England dumped 1,300 tonnes of gold into the market to smash the price, trigger stop losses and make gold more afforable to central banks who are snapping up the physical hand over fist.

Now... wait for it... wait for it... Asia, has just demanded repatriation of her gold.

This is a game changer, ...and could indeed spell the end of this fractional reserve gold banking system.

In addition, ...there have been signs that many experts are calling Hindenburg Omens... the same signs that appears just before the market crash of 2008.

All I know is the system is busting apart at the seams. How long it's going to ast is anyone's guess, but I cannot shake the belief that something BIG is about to occur.

Alasdair McLeod caught a discrepancy in BofE figures, which they refuse to account for.
He discusses it here with Max Keiser.

[avxo]

Is there a reliable, official quote from either the Bundesbank or the Federal Reserve that it would take seven years? Or is this just the word spreading around like wildfire on the blogosphere from what are, without a doubt, highly placed and well informed sources?