"When Gold Goes Above 1430 We Whack It"

ZeroHedge.com ^ | 16 December 2016 | Tyler Durden

[philman_36]

...Gold is not worth more than its value as jewelry.

Aside...it has value. What value does rag paper have?

[crosdaddy]

When backed by nothing, nothing. Although I think the poster would tell you you can burn it, therefore its valuable.

[Zeneta]

I take it you don't mean British thermal unit.

Yes, I did.

I challenge you or anyone else to come up with a greater measure of economic activity than BTU'S.

A greater measure of value and life.

We have long ago left the Gold standard and now operate under an energy/life standard.

[Chode]

yeah, well printing money like there's no tomorrow isn't doing it any good either

[crosdaddy]

I’ll use the GDP for a measure of economic activity, not the BTU’s consumed to produce it. Besides, we stopped burning whale oil 100 years ago :-)

[Zeneta]

Good luck with that.

[wildbill]

I trade currencies daily. The 10 Big Boy Banks control 85% of the movement of currencies in that 4 TRILLION plus daily currency exchanges.

It used to be higher. But a market-rigging scandal that erupted in 2013 and led to several banks being fined billions of dollars and dozens, possibly hundreds, of traders around the world suspended or fired has cast a long, dark shadow over the industry.

[InterceptPoint]

And what's the goal of the manipulators? What are they trying to do? Can you tell?

Suppressing the value of real money to hide the fact that they are creating paper money out of thin air. The ratio of the real money in circulation (all of the gold) to the paper money has been falling (I believe) and that should result in an increase in the price of gold and silver.

The manipulators do not want to see that so they manipulate the market. At some point that game has to run it's course. I would think.

[BluH2o]

Bought my gold back in the $412.00 an ounce days. :)
My only regret (of course)... that I didn't buy more.

[philman_36]

I take it you don't mean British thermal unit.

Yes, I did.

Okay, with that comment you've officially entered my "Don't listen to him for financial advice" column.
Good luck.

[wgmalabama]

BOTs are just programs of various complexity to make purchases or sales based on whatever parameters the BOT creator thinks are important. Some BOTs are designed to beat other BOTs and show their hands. It’s my undesrtanding that high frequency trading is just another form of a BOTs. in most cases BOTs are designed to make money off of you and me. Just like facebook BOTs are designed to make money. It all comes down to defrauding the average person.

[fr_freak]

Relax, Francis.

Come on now. The proper usage is "Lighten up, Francis". Psycho would not be pleased.

[Myrddin]

Energy Return On Investment is a key indicator. At the start, one barrel of oil returned 1200 more. Today one barrel yields about 20 more. It is almost a wash. Pre-1917 Russian farmers returned 145 calories of food value for 15 calories burned in production. Modern agriculture burns 20 calories for every calorie of food produced. When oil EROI approaches zero, modern farming methods become impossible. Hydro-electric is my favorite source of power.

[Ozark Tom]

Potential new industrial use of silver could use ~3% of 2015 (886 Moz) production by 2020; and, result in a compounded increase of ~1.5% per year thereafter, for the following 15 years. By 2030 could possibly use about one-quarter of current yearly production.

Someone’s talking point about a coming shortage of silver in about 2 years will be used to talk the price up.

[itsahoot]

The german bank demanding back all its gold from the US not long ago.

But they didn't get it. The German Gold had to be recast into German bars because their original gold got damaged somehow, or so the story goes. In any case I think they were told it would take 6 years or some such to recover all their gold, haven't heard anything in recent years.

Anyone remember when the Hunt Brothers cornered the Silver market then the government forced them to give it up?

[Zeneta]

I’ve long ago considered the EROI as not only a key indicator, but far superior to any other measure.

At the end of the day, you can’t eat gold or do anything else with it other than show off.

Gold is superficial.

Energy is life.

The numbers you use are intriguing and I’d like to know your source.

[Myrddin]

Start with Mike Maloney's 2010 talk here

The history change for oil EROI is discussed here

This article claims a minimum of 6:1 EROI is necessary for a modern civilization. As petroleum slides below this point, the attempts at biofuels as a replacement don't even come close. We have a big problem ahead.

I agree that you can't eat gold, but you certainly shouldn't leave the life energy you have accrued in fiat money printed by a failing government. Gold and PMs are a stable storage while waiting for a more suitable, stable medium of exchange to evolve.

[Zeneta]

waiting for a more suitable, stable medium of exchange to evolve.

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In the mean time I suppose we’ll just follow our Gov’t data tools?

Thanks for the links.

[Therapsid]

In this instance BOT is accurate imo....as in ROBOT....

as in millions of sell orders backed by Nothing.

[Therapsid]

Decred could be replacing bit coin