Posted on 02/04/2010 9:58:02 AM PST by blam
WHAT JUST HAPPENED WITH GOLD?
Joe Weisenthal
Feb. 4, 2010, 10:37 AM
Once again, gold proves to be no defense against chaos. Look what just happened:
[snip]
(Excerpt) Read more at businessinsider.com ...
same thing that was happening over the last year.
new york pushes down the price of gold, china/hong kong buys it up.
i’ve seen it as washington sending gold to china (someone really needs to check ft. knox)
wait until about 8:00 tonight (est) and see what happens to gold prices.
Oct.1987; Everything negotiable was sold.
Ft Knox?
You betcha...economists are scratching their heads over the increase in initial jobless claims the past three weeks.
I don't have a PHD in economics like Little Lotta, but I took macroeconomics under one of the finest econ professors Cornell ever produced. I was blessed to have him as my advisor my first two years, and he was wise beyond his 80+ years.
There is no recovery, not when unemployment remains above 10% (and U-6 is heading to 20%). The private sector is not hiring, particularly for those over 50.
When this realization finally hits, prices for commodities will fall precipitously.
The dollar, apparently.
Just smack 'em in the head with it. Gold is heavy and packs a punch.
Do you really expect the dollar to gain that much value?
Do you really expect the dollar to gain that much value?
The dollar is worth less and less and less. Gold goes up.
That’s my take as well. I guess I was confused by your post. I interpreted it to mean you thought gold would drop so now is a good time to sell.
Heck, I bought gold at around $250 at one time. I think now is a great time to buy.
I hate to write this, but the only conclusion that i can draw is that the World is drifting toward a really large war. When economic conditions within a country get really bad, the rulers will blame the “foreign devils”. Really, keep your powder dry. Someday is the future we will write - and the War came.
18 pounds of wheel weights and 2 pounds of 50/50 solder make a Lyman #2 alloy. Good stuff.
“Really hard to bring down a deer with a bar of gold.”
If you’ve got gold......I’ll deliver you a deer, dressed, wrapped and labelled, if you want.
Call me @ 1-800-MEAT4GOLD
RobRoy,
In times of crisis, the world flocks to the dollar - even with out economic problems. There is no other reserve currency. Greece’s problems (where the first donut was fryed, by the way - in Grease), Iran’s rocket launch and nuclear issues, etc. give the world lots of reasons to go back to the US dollar...
ampu
I think the dollar will rise compared to other currencies, but how about compared to commodities? If the government suddenly quadruples the amount of cash in circulation, would that not drastically increase the cost of goods and services?
“Plus, reloading is SUCH a relaxing hobby.”
I don’t know if you’re kidding or not, I have friends that hate it, do the bare minimum to get by. I on the other hand love it. I clean the brass, neck turn ALL my brass, uniform primer pockets and flash holes. Meticulously control neck tension.
I also have a range with steel targets I can shoot out to 900 yards. I’ve got a portable shooting bench built on an old boat trailer, so I tow the bench to the yardage I want to shoot. I’ve got two encores that shoot sub MOA out to 700 yards and a benchrest gun that shoots half MOA out to 900 yards. Fun stuff. :-)
“Must...buy...more...silver. NOW!”
Not to brag, but I saw this coming. Starting next week I’ll be buying gold/silver scrap jewelery, etc. Ads coming out this weekend in local papers. Heard from FedEx this morning that my new Ohaus scale is coming tomorrow.
You’re right, BUY, BUY, BUY!
>>”What good is gold? If they decide to TAKE it, they will. FDR did, Obama might too.”<<
That’s why we also invested in lead, copper & brass.
Come and take it....at your peril.
lol!
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