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The USA is Digging Itself Deeper & Deeper....

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24KT:
No Way Out - Stocks, Bond, Real Estate Markets Will Collapse


"When interest rates inevitably go up from these artificially suppressed levels where they are now, the bond market is going to collapse, the stock market is going to collapse, and with it, the real estate market is going to collapse. These pension funds are going to be wiped out. Then what's going to happen? This is a very bad situation. The U.S. is digging itself in deeper and deeper."

24KT:
Well... what do we have here...

a two year old prediction that appears to be coming true. :D


--- Quote from: 24KT on March 15, 2012, 01:39:02 PM ---
quick cursory response:
 
SDR's are a basket of fiats, and while they do contain some gold, they are still fiats.
When currencies collapse, they will introduce the IMF fiat the SDR, but again, it is a fiat and unsustainable and will follow the same route as current fiats.

as for Germany's GOLD, well, that's not in Germany, and whether they can repatriate it, is another story.

as for US Gold,... I hear they just picked up a few hundred tonnes in Libya, to fill the empty vaults of Fort Knox.


I'm not banking on anything, ...I'm hedging against something that I see as inevitable.
I don't see fiats recovering. They are all in a race to debase, and debasing against each other is ridiculous, ...however, debasing against GOLD is something they are all capable of doing.

In any event, I'm getting my gold for FREE, and can convert it into cash in any currency I choose, as well as shortly, be able to shop with it as well... eventually down the road. Right now, I'm in the accumulation stage, and not yet shopping with it like some of my European counterparts.

--- End quote ---

They've just relieved the Ukraine of all it's GOLD...
...and the IMF has just bailed them out of their horrendous debt situation with SDRs.

I guess we all know what's coming don't we? 8)


http://www.getbig.com/boards/index.php?topic=418973.msg6012020#msg6012020

Chadwick The Beta:
of course, the only means of escape are your magic gas pills and your tired cash for gold scam  ::)

Mr.1derful:
A 1 ounce gold coin in 1913 would buy a nice suit.  That same 1 ounce gold coin will still buy a nice suit today.  The dollar, on the other hand, has lost 98% of its purchasing power since 1913.  People that want their dollars can keep them.

24KT:

--- Quote from: Mr.1derful on May 06, 2014, 07:18:53 PM ---A 1 ounce gold coin in 1913 would buy a nice suit.  That same 1 ounce gold coin will still buy a nice suit today.  The dollar, on the other hand, has lost 98% of its purchasing power since 1913.  People that want their dollars can keep them.

--- End quote ---

EXACTLY!!! Gold is a store of value & purchasing power. It preserves the value of your labour, blood, sweat & tears. If you're not storing your money in gold, ...someone's picking your pocket. And when your pockets are empty, ...they'll be picking your bones. Back then it was possible to acquire an ounce of gold for around $20.

In order to print more currency, Roosevelt confiscated all the gov't issued gold coins, and once they had them all, revalued gold at $35 an ounce in order to print more currency. Even if you had purchased it at $35 / ounce, and used that as your savings account, saving your money in gold, you would be ahead of the game, versus saving it in paper or virtual electronic or ledger currency (cash in a bank account)

The same 1 ounce of gold that was saved, would have retained it's purchasing power, buying everything it did in 1913 or in 1933. What will $20 or $35 in paper currency buy you today? It's not the PRICE of gold that matters, it's how much gold you have that matters, ...not in prices, but in weights.

Personally, I wouldn't want a $1,000 bill. It's not practical for transactions, who can make change?
It's difficult enough getting change for a $100 bill. Given a choice, I'd prefer to have a hundred $10 bills or even  two hundred $5 bills than to have ten $100 bills or one $1,000 bill. Larger denominations of anything are less practical and far less transaction friendly, whether we are talking fiat currency or precious metals.

You know how we hate having to break a big bill, ...even though the currency we're getting back in exchange is just as worthless & depreciating just as quickly as the other pieces of currency we just exchanged it for? Well it's even worse with physical gold as a means of exchange, ...UNLESS the physical gold you're exchanging is in transaction friendly weights, and you're getting the same kind of physical gold back as change.

I have no issue exchanging a 5 gram weight to pay for an item priced at 2 or 3 grams, especially if I know I'm going to receive 2 or 3 grams of gold back as change. We don't have the same luxury with a 1 ounce coin though, and God Forbid you should have to try transacting business with a kilo bar. Unless you're buying a car, or an even bigger ticketed item... good luck with that. And when Gold revalues higher... what the heck are we going to do then? If Mike Maloney's predictions are accurate, 1 gram of gold will be upwards of $600, and if Nick Barisheff or Jim Sinclair are on target, 1 gram could be upwards of $1800

I have friends who bought physical silver bars at $5 ounce. They got those big 400 oz bars at ~ $2,000 a piece.
When silver hit $50 and they tried to take their profit, ...guess what? No one had $20,000 laying around.
The dealer had to take a short term loan, which involved plenty of paper work, and you can be rest assured if he had to fill out paperwork, he made damned sure to report to the tax man exactly WHO he was forking over close to $20G's per bar to.

I'd rather have one thousand 1 gram bars, than have to deal with a one kilo bar, ...but that's just me.

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