Posted on 02/12/2023 7:51:37 PM PST by SeekAndFind
Inflation is higher than claimed
GDP is lower than claimed
Making the GDP look larger means it will make inflation look lower. Combine that with the ridiculous way inflation is computed and it is all smoke and mirrors.
Job creation numbers are also fantasy
Comments briefly:
1. I believe more gold has been sold than exists. Has anyone done a substantial audit of these privately owned gold vaults? If so, are auditors qualified to attest that the product audited is real gold?
You must own individual physical gold - or you only (may) have a claim in court.
2. Counterfeiting has reached such a high level of sophistication that it is almost impossible to determine fakes. Some years back there was an issue with fake gold bars being produced in China that fooled investors.
There are electronic ways to reveal what a coin or bar are made of. Also reputable dealer.
3. In times of need it is not readily divisible.
In one town in Venezuela we read last year their local economy was running on gold mined in the surrounding mountains. They literally eyeballed an estimate of cost, cut it off to pay…
4. The market is controlled with market makers collecting fees for both the purchase and sale.
True. Businesses have no incentive to provide services - including liquidity unless they can make a profit. The stock martlet works this way.
5. You must be able to safely store and protect your investment.
Yes!! Either privately and securely or home… or in more than one legal jurisdiction.
6. Gold, as all items, is subject to the law of supply, demand and need.
Yes, but is rare, expensive to recover, and valued worldwide.
Gold is traditionally used in third world countries with collapsed currencies to bribe police and other authorities.
We are working on getting there—forward, comrades!
Good book. It’s by a Marxist, but it sometimes take one type of totalitarian to explain another.
It is a businessman in the late 30’s who wrote it.
Don’t know where you get the idea it is from a marxist.
https://en.wikipedia.org/wiki/G%C3%BCnter_Reimann
Interesting he is the grandfather of the founder of BLM.
Interesting he is the grandfather of the founder of BLM.
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Reading your citation, I see no evidence of Marxism other than the reference to his youth. Which is clearly overwritten by other things.
I wonder what you great grand children might do.................
Gold will have value yet, because it is a precious metal, that people covet in the past, and will covet in the future. Currency in the USA used to be backed by gold before the Fed was created. It will have value for many reasons. People will always need something to conduct transactions with, and precious metals will always have their place.
It’s a means of exchange of goods and services if the wheels fall off. Someone on this board stated that if things got bad, lead is the most precious metal. Other items for consideration to have on hand is bottles of alcohol. People want their booze in good times and bad.
Yup. They hold value, but don't really appreciate except for unusual circumstances.
That is my line of thinking. I have things to barter with-consumables as you mentioned.
Correct!
Bookmark Gold
What happened (or changed) in the 1970s? Asking out of geniune curiosity. Thanks
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