Hey, the collapse of the US Dollar is Bush's fault.
We’re not the only ones who are broke. But, yes.
Yes.
Indian people have a history comparable to that of the Chinese and they are also buying gold.
So, that gives us half the people in the world preparing for imminent economic disaster, and the richest people in the world preparing to bug out to "Europe" and "America" ~ 'cause that's where their gold is!
It's hard to figure out what's happening to the "dollar" in all that because this is what's happening to the "over seas dollar".
Maybe a reference to Portuguese, Belgian and Spanish economic history in the 1600 - 1800 period might be in order.
The Spanish Milled Dollar continues to have strong value in the open market.
Those cows have left the barn. The only reason that everyone doesn't already know this is that they are in deep Leftist denial. The talking heads aren't stating the obvious, because the "connected money" needs to get fully repositioned without trillions of dollars of 401k money stampeding for the same exits.
It’s all about perception. If everyone thinks we’re broke then the price goes up.
But, yeah, we are and getting more so every day that loser is in office.
i look at the price of gold as an indicator of the strength of the dollar, not the intrinsic value of the gold itself the more dollars it takes, the weaker the dollar
Gold is a good conductor of electricity, but has few other practical uses. As end of civilization currency it's worthless, (at least to me.) I'll barter you some food for ammo, but certainly won't accept Gold in exchange for anything.
Gold is rising because:
1) the ongoing fiscal insanity in the US
2) the ongoing printing and subsequent devaluing of the dollar
3) the world is pegged to the dollar...1 & 2 apply here, as well.
No. It is called a world wide shortage. Anybody bothering to check over the years would have seen gold use in the world going up and up and production not keeping up.
If a huge gold vein was discovered tomorrow, and it might happen at these prices, watch the price tumble.
PS: What do you think goes into all these electrical devices in minute quantities in each and every one? Add to that the quantities used in currency and so much of the world having a few dozen gold coins in reserve and what do you expect?
I remember going shopping at a Supermarket in Rio in the early 90's before the change to the real. A woman was reaching for a can on the shelf while a clerk was busy trying to keep up with marking each can with the current price. The inflation rate was 300% if I recall at the time.
As the woman put her hands on the can, the clerk hit the same can with the new price tag. The woman turned so I could see her face...the rage was unnerving. The clerk was lucky not to lose some teeth that day or have a can thrust in an uncomfortable location.
I don't believe our leadership is as competent as the Brasilian government was at that time. I believe our government is going out of it's way to make this third world scenario reality for all Americans.
How much is being produced ?
Global gold production peaked in 1999 at just over 2,600 tonnes, having risen steadily from a 1980 base of about 1300 tonnes. In 2002 global gold production was running at just under 2,600 tonnes per annum, It is considered that lack of exploration expenditure in the 1990s, coupled with the inherent delays between discovery and production mean than the gold supply will remain inelastic and is likely to reduce slowly over the coming few years.
How much is being consumed?
Gold is not really ‘consumed’ in the sense that it doesn’t get used up, but its demand runs at about 3800 tonnes per year - notably faster than it is being mined (2,600 tonnes).
It’s more useful to think of the dollar as being worth only 1/1,500th of an ounce of gold, than the other way around.
“Is gold rising because America is broke?”
Did Ben run out of ink (not that needs it in the computer age)?
Gold is rising, because, the dollar is not worth a sh!t. The dollar is tied to the competence of DimBO.
Yes. Next question.
