Posted on 11/08/2021 8:27:48 PM PST by MeneMeneTekelUpharsin
The price of gold spiked up a bit. Hmm...maybe gold will now recognize inflation? Interesting...it's been holding stead for a long time will the price of almost everything goes through the roof.
Why did you put an incoherent vanity under News?
Incoherent vanity? Go to the links and look at the charts. It is factual. It is NOT a vanity. Keep trying.
Why did you respond/post if you think it’s a vanity? Incoherent response?
Gold has been relentlessly bludgeoned by central banks any time it goes above 1800. Gold wants to tell a tale on currencies and the purveyors of those currencies want to forestall that as long as possible.
Those banks want to keep gold at about $1750. It’s obvious and blatant. The proof in the puddin’ is the wild difference between the paper price and the physical price. Lately, a physical 1 ounce gold coin has been $175 higher than the spot paper price.
The ratio on silver is even more dramatic. At 23.50 spot on paper, a single silver 1 ounce eagle has cost 34.00
About a trillion dollars that normally would have gone into gold is now safely invested in bitcoin. The demand for gold is dwindling, perhaps for the long run.
Some people (IMHO who are making a mistake) are using cryptocurrency as an inflation hedge and as an investment. Cryptocurrencies are the main reason that gold has not appreciated as it would have in the past. Yet when the consequences of all this wasteful government spending, dollar printing and the subsidizing of the non productive schemes such as green energy boondoggles, corporate squandering of capital into ventures such as EVs which will not return a profit and subsidizing unproductive people and Democratic cities, the dollar will lose value, cryptocurrencies won’t hold up and gold will increase greatly in value.
My local shop is selling 1 oz. Kruggerands for about $75 over spot fwiw.
Look for the Democrats to attempt taxing cryptocurrencies very imaginatively in 2022. They have their greedy eyes on all that “money”. They will argue that its the way rich people hide assets and its only right to tax it. It may actually be politically popular since most Americans don’t own or understand cryptocurrencies.
When the crypto currencies are worth nothing gold will still be worth something.
Spike 20 or more time this year.
Still down over 10%
Because you used click bait and posted under news
Who died and made you humblegunner?
Actual magnitude of spike (both in absolute terms - i.e., $/oz. - and as a percentage) not mentioned in first sentence.
FAIL!
Regards,
What’s the difference between investing in cryptocurrency and investing in Tulips?
As pointed out by other above - we may well see the gold-price manipulation dropped in order to destroy crypto currencies. Central banks have no good options but they do own gold and have been adding to gold holdings recently. CBs have a growing incentive to let some of the air out of the cryptos (say, all the way to zero).
I have a considerable investment in paper gold and have been wondering why the price has been stagnant. My conclusion is that much like the fake S&P ratings that kept mortgage filled CDOs afloat before the bust in 2008, raging inflation has been discounted as temporary. Paper gold prices have ticked up. I expect a dollar bust and a big jump in gold prices in the near future.
This is a good time to buy canned goods and gold.
It is not click bait. I looked up the price of gold and noticed the chart jumped. Man, you guys are relentless. However, you just THINK you are strong-willed. I posted what I intended to post and have absolutely no apology for the way I did it nor how I said it. Gold jumped a bit. I thought that was interesting and posted it. Not advocating for or against gold.
No failure here. Only those who criticize me end up failing. Come get some.
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