Skip to comments.Why Gold Prices Are About To Skyrocket Even Higher
Posted on 08/13/2019 9:06:44 AM PDT by bananaman22
The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. But there is one key trend that stands to push gold up beyond $1,700--regardless of the days news.
Of course, its difficult for the bears to ignore a nearly $50/ounce gain for gold, which is now trading well above its 5-year high.
(Excerpt) Read more at oilprice.com ...
I seem to remember a radio ad for gold, in which they claimed that gold was set to soar to $2000. About 10 years ago.
Buying gold when it’s high is stupid. Buying it when it’s low is smart. Knowing what is “high” and what is “low” is the key to it all. I don’t know it.
They were peddling gold before Y2K. Still are hawking it.
How about silver?
The pattern I see is that the gold/silver vendors aggressively hawk their wares them the spot price of metals is rapidly increasing. They STFU when the spot price of metals is rapidly dropping.
If you’re going to buy, buy when the vendors aren’t aggressively hawking their wares.
If anyone could accurately predict when gold is going to go up, they’d be a billionaire.
Mainly used to pay the Doctor for setting a broken arm and Dentist for tooth pulling after the collapse....
If you buy a bunch of gold on paper, how are you supposed to access it if the SHTF? I know gold has real value, but only if you actually possess it, and not when it’s just in some portfolio.
The article explains that central banks, mostly US opponents, are turning away from the dollar for transactions and relying, at least in part, on gold as a substitute.
I really don’t see the trend of China, Russia, Iran and non-aligned nations turning away from the dollar abating. There really isn’t a reliable national currency available to replace the dollar as a new reserve currency. It’s also good that we are not seeing the emergence of a world currency like SDR which would no doubt give globalists more control.
Central Banks all around the world have been steadily accumulating bullion for over a year now.
Maybe they know something; maybe they’re all wet.
I think the old adage still hold true: watch what they do, not what they say.
Gold, like anything else, is only yours if you can protect.
The better question is, who the hell is going to want gold when/if everything were to crash?
Just look at Venezuela. People would take wheelbarrows of cash to the store for canned goods, come out, and people would leave the cash and take the wheel barrow. I just don’t see gold being of any use.
Central banks do not have a great track record in their gold trades. The Bank of England, the UK’s central bank, sold the bulk of its reserves for $250-270 in 1999-2001, just before the gold price took off.
If you are hungry enough, a can of beans is worth its weight in gold.
Im certainly no expert on such things but agree that its relatively useless during the turmoil. I believe the intent is for those with the means to have some semireliable method of retaining value until and reinvesting in the post apocalyptic period. For the rest of us “tin and lead” are better bets.
Oh Lord, it’s time for the every few years “Gold is going to skyrocket” ads on the radio!
Gold hit $2156 in February 1980!!
And now we are at around $1500 . . .
Some hedge . . unless losing money is your thing.
Don’t worry, cue the gold bugs here who will insist that without a gold standard the country is going to ruin.
Oh no, the country won’t go to ruin. You’ll just lose 98% of your purchasing power over roughly a century. It’s like a svelte lovely smoking hot young wife, gaining 2 or 3 pounds a year. It’s barely noticeable....at first.
A gold standard is the scale. We live in a house with no scale.
That’s really a false analogy. If you are in Venezuela and trying buy a can of beans with a gold coin, you’re an idiot who never prepped. Only an idiot stashes gold for use DURING the hard times.
Gold is kept hidden quietly away during economic collapse, and then used to rebuild your life when hard times end. It’s a store of value.
Right now, we spend around 4.2 trillion a year, and bring in 3.3 trillion. Important elements in the world that despise America are finding ways to move away from Dollar based trade and the Petrodollar. The Saudis, Iranians, Chinese, Russians, etc.
If this movement continues and gets smarter (it will) then we will experience a dollar collapse. It would be nice to have a portfolio of gold to rebuild your finances when the dollar goes the way of the Continental and the Confederate dollar, or the 1920s Mark, etc.
Funny you mention Venezuela and wheelbarrows full of cash. When the collapse there ends, as it always does, a new currency will emerge. When it does, it will be traded at a certain level which will allow you to buy back into the economy and probably land close to where you were before the crash.
The wheelbarrows full of notes get burned for heat as in Weimar Germany. Gold coins simply allow you to buy the new currency at a sane level.
To those that say that when the SHTF you can not take your gold to the store to buy a loaf of bread, consider this: you take your gold to a money changer to convert it into the existing currency at the existing daily exchange rate, then you take that currency to the store and buy your loaf of bread.
There have always have been money changers, isn’t there something, in the Bible, about Jesus running the money changers out of the Temple.
I know from first hand experience that there was a street, in Saigon, where there were many gold dealers, where the crafty Viet Nam women would buy and sell gold. They converted their paper money to gold which would always have value no matter what the paper money did.
Money exchangers will always be available to those who have gold to sell at the existing rate of the local currency.
CB’s are not traders.
Traders would use the paper gold/silver market via futures or etf’s.
No, this is a hedge against an increasingly dangerous and unstable world. You may have noticed the unimaginable and unsustainable debt levels in the USA and other major countries around the world.
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