Posted on 03/18/2025 6:45:10 AM PDT by C210N
This news of delisting of "paper gold" means the spot price of gold will be more in line with the limited supplies of physical, instead of being held back by there being 400 ounces of paper for every ounce of physical.
Unprecedented, huge, unpayable government debt undermines paper currency and is a cancer on the world economy. Gold will continue to rise in value as people become more impoverished.
It is likely that game of "managing risk" is becoming a most uncertain gamble.....
So, as I understand it, the mega banks will no longer be able to short the Comex Gold futures market with hundreds ( thousands) of paper gold contracts?
This has gone on since the US removed Gold backing our currency.
So, as I understand it, the mega banks will no longer be able to short the Comex Gold futures market with hundreds ( thousands) of paper gold contracts?
This has gone on since the US removed Gold backing our currency.
The official fiat price of gold TODAY is $42.22, set in 1973. On the books, the $ value of the Treasury (in Ft. Knox, NYC, etc) is that price times 8500 tons of gold.
There are serious signs that gold will soon be "revalued" officially. Note that the new price would by necessity be AT LEAST $3000/ounce. Given that the current fiat system MUST inflate or die, the new price would likely factor in a hefty additional margin, so that revaluations would not be needed again almost immediately, and you begin to understand that the revalue price would likely be more like $9000/ounce.
And, all the above is moot, going to a PM-based new dollar.
Folks here are aware that fiat $'s are adding $1 Trillion every 100 days to the debt. Well, we seem to be entering a phase where the fiat price of gold is adding $100 every 100 hours.
Did President Trump have anything to do with fixing this? It was a national security threat as China had outsmarted us for years, draining our reserves.
Our own US major banks would short Gold to keep the prices down, ( manipulation) and then China would rush in buy insane amounts from our Comex, thus depleting them. They outsmarted the US ( western) manipulators, while cleaning out the West’s Gold supplies.
This has been going on for years!
“Physical Gold Flows East as Manipulated Paper Markets Lose Credibility..”
https://www.moneymetals.com/news/2016/05/11/physical-gold-flows-east-000866
The “dollar to gold ratio - NOW” on US Debt Clock is $8509 per troy ounce! Gold price has a long way to go up, and up it’s going, from 3050 to 8509.
Basil III implements on July 1. Might have something to do with revaluing gold from a tier 3 to tier 1 asset and nuking the rehypothication of existing physical gold.
IMVHO
Glad you brought up hypothication.
My expectation is that gold WILL BE FOUND aplenty in Ft Knox (and other vaults, as about half is reportedly there). That’s not the issue.
The BIG thing is the hypothication and rehypothications. The audit is NOT about physical metal, but on who owns each bar. And how many owners separately think they own a bar. This latest news of taking down paper gold (hypothication to the max) will have repercussions on the audits.
I will add the Shanghai Gold Exchange processes transactions for physical metal only, not paper contracts ( open to manipulation) like the US Comex and LBMA.
They have now surpassed the western markets in physical Gold trading, obviously a major threat to the USD. Noted Gold experts claim China now has built up a Gold Reserve of 27,000 tons plus, compared to US’s paltry 8,100 tons.
This is why a full assay audit of our “ declared “ Gold holdings( Ft Knox, Denver, New York) is so important. No one trusts the US government anymore, and I suspect President Trump is taking action.
If the US is found “ lacking”, which I believe it is, Trump can reopen Gold mining in the US on a massive scale, however it will take years to accomplish.
In any case, Gold has begun a worldwide historic generational bull run, and the US population is still asleep….
and up it’s going, from 3050 to 8509.
—————
With the entire world’s Central Banks ( the biggest money in the world) buying historic amounts of Gold, highly unlikely they will ever let the price fall. Noted Experts ( www.gata.org) see easily $10,000-$15,000 plus before settling out.
With the entire world’s paper currencies now losing purchasing power at an historic rate, I can see easily Gold going much higher than $15K.
“The audit is NOT about physical metal, but on who owns each bar. And how many owners separately think they own a bar. This latest news of taking down paper gold (hypothication to the max) will have repercussions on the audits.”
Copy that.
The LBMA is effectively screwed.
“With the entire world’s paper currencies now losing purchasing power at an historic rate, I can see easily Gold going much higher than $15K.”
In 2014 you predicted gold would reach $5,000 in 2015.
Another of your many missed predictions.
Now? A world and everyone in it awash in fiat debt.
Hey, buddy can you spare a dime ten spot for a cup of coffee Starbucks?
Now? A world and everyone in it awash in fiat debt.
Hey, buddy can you spare a dime ten spot for a cup of coffee Starbucks?
oops, sorry. Well, maybe it’s worth saying twice.
Banks, the FED, the investing class realized the investing opportunities of removing the currency from gold backing...and subsequently officially "going off" the Gold Standard and giving us the inflation game. Where the FED has their 2% max inflation 'target,' knowing full well there will be occasional and repeated bouts of high inflation. Once this inflation subsides, the FED can crow that "they did their job."
That's the historical and current view from the Wall Street perspective but definitely *not* from Main Street. Regular people (Main Street worker bees) have gotten repeatedly hammered by inflation year after year, on balance.
The politicians: The Great Society of LBJ and his cabal required $Billions more revenue than they could expect in a Gold Reserve system. So they set about and successfully dismantled the Gold Reserve backing/Gold Standard. It's a matter of history.
All your posts today are to Armstrong. Do I remember correctly that you are associated with that lying scammer?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.