[DebtAndDelusion]

Gold above 500 is significant. The nay-sayers will dismiss the barbarous relic -- "you can't eat it in a crash, better a shotgun and ammo..." etc. But the fact remains there is a wide range of likely scenarios located between another Great Depression (probable) and an entire collapse of civilization (most unlikely).

Within that range gold holds a store of value -- insuring wealth -- unlike any other. The west seems to continue selling gold, while China, Asia and Islamic entities buy it. True, there are some pretty wild conspiracy theories floating around out there about the price manipulation of gold -- but that is always the case when uncertainty arises and people can't get straight answers from those in charge.

M-3 in March for example. No more reporting, no elected leaders mentioning it.

The uninitiated think those holding gold like seeing the price go up. Heck, that just makes it more expensive to acquire more gold.

Then again if the price of gold rises slower than the fall of the dollar I guess it still makes it cheaper. Gold is going to the moon.

HG

[Blood of Tyrants]

And since you just registered the other day, I'll bet that you are selling it, too.

[mugs99]

Within that range gold holds a store of value

Gold holds its value in any range. An ounce of gold would buy you a good suit in 1900. An ounce of gold will buy you a good suit today. Fiat currency has no real value.
.

[Iris7]

"M-3 in March for example. No more reporting, no elected leaders mentioning it."

Agreed. An important development. There goes the last published statistic covering "money market" activity.

What is most interesting about the current "money and credit" situation is that it seems as if all the central bankers are in collusion. This is the first time all of the world's currencies have lost value concurrently and equally to my knowledge.

[Iris7]

Customary here for those starting a thread to stick around and respond to the posts.

[jiggyboy]

All I need to know about Newsweek's expertise in gold market sentiment was in their July 19, 1999 issue: "Gold Is Losing Its Glitter". They were tsk-tsking that "last week...gold hit $256, its lowest mark in more than 20 years." They rang the Sell bell at the bottom of a twenty-year bear market almost to the day and dollar.

[hubbubhubbub]

"the evidence of increasing inflation is thin. True, oil temporarily made it worse. But excluding erratic food and energy prices, inflation has remained at about 2.5 percent since early 2004. Perhaps gold buyers glimpse dangers not apparent in the statistics."

LOL, this passes for economic analysis at Newsweak. If you don't eat, heat or drive there is no inflation. Plus M3 going stealth in March '06. Maybe Gold buyers aren't so dumb after all.

[Marxbites]

On April 5, 1933, President Franklin D. Roosevelt ordered Americans to surrender their gold coin; the country effectively went on a paper-money standard...

Yeah and when they'd paid the public $20 +/- per once for it, he arbitrarily had it revalued to $35 !!!!

A 75% profit for Uncle on the backs of Americans the SOB

[B.O. Plenty]

As far as I can tell, gold has no basis of value other than industrial uses and its use for jewelry. When governments cut the ties between their currency and gold, it threw gold into the category of any other metal, like copper.

The reason, IMO that it is rising in price now is the "feeding frenzy".....a speculation driven price rise. Maybe it continue, maybe not. There is no increased industrial demand that I know of that would drive gold prices higher.

If I had a bunch of gold right now, I would take my money and run.

I think there are going to be a lot of sorry people who "get in" at the top.

Silver is another story...governments all over the world are moving to practically ban the use of lead in solder. Guess what takes the place of some of the lead...yyyyeeeessssss.....silver.

[Tijeras_Slim]

Nice screename.... title of an unpublished Jane Austen novel perhaps?

[MikefromOhio]

But the fact remains there is a wide range of likely scenarios located between another Great Depression (probable) and an entire collapse of civilization (most unlikely).

Gee THAT wasn't a selling point or anything. Since WHEN has that been PROBABLE?