Gold Gone Cold

Shout Bits Blog ^ | 4/15/13 | Shout Bits

[CMB_polarization]

With Kerry and Moonbeam Brown seeking Chinese investment in our infrastructure, the message seems to be the US is flat broke.

[cicero2k]

At some point, when we start talking about bank account confiscation and IRA account size limits, physical gold will look good again. Not ETFs or mining stocks, physical gold. It is harder for them to find what you buried.

[Shout Bits]

You may know that FDR outlawed private gold investment. Some people buried their gold, others stored it in Canada. The government was relentless in hunting these people down, and even long after gold ownership was restored under Nixon, the government prosecuted people who turned up with then banned gold coins.

[Shout Bits]

Current account deficits must be repaid, and the most common way is through capital account purchases by foreign creditors.

[BobL]

“Some reports cite a slowing demand from China as well as Cyprus’s plan to sell $500 billion in bullion as reasons for the collapse.”

Proving ONCE AGAIN that Journalism majors HATE math.

Cyprus has about a million people, if they had $500B in gold, that would be an average of $2 Million for a family of 4. They would not be broke, instead they’d have the Emirs licking their toes.

[silverleaf]

of course we atre broke

did people not notice, despite obama bowing to the president of China and the king of Saudi Arabia, that the US became the biggest buyers of our own treasury debt

when Bernanke the so-called student of tthe Great Depression, started buying our debt with more debt?

all we have left to barter is abandoning allies, dismantling our military and shipping China our natural resources

[OneVike]

Not to belabor the obvious, but gold is not a productive asset

I stopped reading when I read that in the in the third paragraph. This guy is an idiot.

Gold is used on many electrical components. It is used so much that some sewage companies make money off the gold remnants that makes it into the sewage system from industry.

When japan's economy and industries were going strong, it's sewage actually had more gold than some gold mines around the world.

Japanese Prefecture Finds Gold in Sewage

[Mr. Jeeves]

Quit bailing out banks by paying them a guaranteed spread for not lending money.

That sentence betrays a typical misunderstanding about who is actually the government and who works for them. :)

[Shout Bits]

Sorry, OneVike, but the rest of the paragraph acknowledged gold’s industrial use, especially in semiconductors.

However, the primary use of gold is as a stockpile of wealth and jewelry. The fact that gold can be found in sewage (interesting, I did not know that) does not prove your point in ay way.

[Shout Bits]

I would say that large banks are quasi-governmental institutions that are used to promote government policies of wealth redistribution and monetary expansion.

[Fred911]

Central banks bought more gold in 2012 than any year since 1964......and in 3 months everything started turning up roses????

I bought gold at $400/oz. and I will be a buyer at $1300/oz.

News Flash: The regime is printing $80 BILLION out of thin air EVERY MONTH......this ain’t rocket science.

[JoeFromSidney]

I never looked on precious metals as investments, but as hedges against catastrophe. I'll be very happy if inflation is brought under control. If it is, then my expenditures on precious metals fall in the same category as fire insurance. I really don't want to collect on it. If inflation isn't brought under control, though, precious metals will still be useful for purchasing things I need.

[jobim]

My thoughts precisely.

[OneVike]

Semiconductors is but a portion of the industry that uses gold. There is many portions of industry that uses gold. Over 320 tons of gold, along with 7,500 tons of silver are used in industry every year around the world. That is a lot of bullion being consumed my friend.

There is not an industry in the world that does not use gold. Gold is used in everything like, Hi-Tech ElectronicsHi-Tech, home pc,s, TVs, VCRs and DVD Players, Telecommunications, space, and even medical devices. Not all just in IC's either. many of these industries use gold in things you would be hard pressed to realize and the use is increasing every year. Until you actually look into it.

So gold is not just used to hoard or for jewelry as it used to be. If we quit digging for gold we would eventually run out from the use in industry. it would take awhile, but it would happen eventually.

A long with the false push of stocks from the administration that most people are falling for, there is also the fact that in the last decade China has used so much raw materials that they pushed up the price of everything from copper to aluminum.

China even has enough empty ghost cities that can house over 60 million people. Check them out. That is a lot of raw materials that was needed, and now China is not importing those raw materials any-longer.

China built these cities with the understanding that they could reap the benefits of America's economical success, but when we fell, so did they. Remember, China needs to keep a billion people employed so they will not revolt, and they thought they had it all figured out.

[fso301]

Interesting coincidence that metals and equity markets tank on the same day a few hours ahead of the Boston Marathon explosions.

[RHS Jr]

Gold gone cold. Well, it may take more than three days but I’m gonna bet that physical gold makes the greatest come back from the grave since Jesus (but of course no where near the significance or magnitude of His accomplishment mind you).

[Shout Bits]

“Some reports cite a slowing demand from China as well as Cyprus’s plan to sell $500 billion in bullion as reasons for the collapse.”

I want to apologize for this error. Cyprus is selling $500 million. An absolutely trivial amount.

[joe fonebone]

a little advice for gold holders..

rosevelt confiscated it...

one year, a man with a gold coin was legal, while a man with a pint of whiskey was a criminal..

one year later, the exact opposite was true...

just sayin’.....

[Sirius Lee]

a little advice for gold holders..

rosevelt confiscated it...

Don't keep it in a bank. Problem solved.