Posted on 11/13/2009 6:45:21 AM PST by SeekAndFind
Can you offer a shred of proof to back up your rumor?
I could just as easily post that you are a Chinese communist spy disguised as an American, with equal "proof."
Ending B-W was the final step in a process that took almost seven decades. Nobody's going to say we were better off in 1910 than we are now. At least not with a straight face maybe...
Gold was pegged at 35 bucks an ounce (after confiscation from the public and banks) in the US. Treasury stood ready to buy and sell to foreign central banks at that price. Other countries pegged their currencies to the dollar, thus providing a link to gold. The US ran out of gold by 1968, and by 1971 all currencies were floated, and not backed by anything other than taxing authority, etc. There isn’t enough gold to run a world economy.
Read about the gold plated tungsten bars last night on FR. Scary! and has klintoon written all over it.
ping for later
Why so defensive???
Check this link the PRC bragging about gold plated tungstan bars AND coins http://www.tungsten-alloy.com/en/alloy11.htm
I read that too. I checked the density of tungsten (19.25) and gold (19.32) and they are close enough there might be some truth to that. Making the tungsten bar just fraction of millimeters larger in all dimensions would make it weigh exactly what a true gold bar would weigh. The size difference would be too small to tell without exact measuring instruments. Scary.
In that case...do just that.
How do you do your check to make sure the gold bars are not the ones found stuffed with $10-a-pound tungsten?
You offer ZERO proof, just some illiterate Chinese website offering to make tungsten jewelry with a gold veneer.
Please link a sourced article on actual gold bars being traded, that have been found with tungsten cores.
Not rumor mill articles from bogus websites. Actual articles, from real news sources.
Or is a grand conspiracy afoot, where thousands of traders, reporters etc are all refusing to print the truth that you somehow know?
A simple drill would discover the fraud. You are posting what would be a huge story. Please post a link to a real article about gold bars being traded, that were found with tungsten cores.
I will eagerly read them.
Just don't post juvenile rumors and bogus websites as "proof."
Please post a link to an actual news story proving this.
Nobody would electroplate gold over tungsten. A simple scratch test would reveal the tungsten. Now, a tungsten slug could be molded inside of a gold bar, that’s true. But if these rumors have any basis in fact, then when physical delivery is made, a simple assay test involving a drill will reveal the fraud, and the “tungsten scare” will soon be behind us.
I invested in copper last year and I’ve doubled so far.
http://www.freerepublic.com/focus/f-news/2385151/posts
Not good to act sooooo defensive. Makes folks start to wonder what someone’s hiding or trying to peddle.
Straight out tell us this gold plating of 640,000 tungstan bars in Fort Knox ain’t so, that the story is all wet.
“””””When *everybody* is saying buy, it’s long past the right time to buy - same is true with any investment, be it real estate, bonds, stocks, porkbellies, whatever.”””””
I agree in a normal market but with the gov. spending the dollar into infinity - dollar collapse, or significant devaluations are likely.
Commodities like energy or food will always be in demand regardless of other asset declines and can serve as store of wealth. You have to be an active investor, there is a time to be in gold and at times to be in other assets like corporate bonds, RE or stocks, each has it’s day, sometimes years
Dow 10,000 today is inflation adjusted to Dow 7,500 in 2000 dollars
If you truly believe the dollar is going to appreciate over the next 5 years keep your paper money in your mattress, If you think it is going to fall significantly you want to put it somewhere where you will preserve it’s value.
The trend is your friend
Place your bets and we will see where it all settles out in 5 years.
LOL, "Ammo bugs": Coined term of the day!
I happen to agree, but am playing it safe by having pre-1965 silver coins too.
Coincidentally, I just sold off all my gold. I think we're at a peak, and I expect a correction soon, probably down below $900 (at which point I'm going to buy up a bunch again).
Not enough for 100% reserves maybe, but that was never the issue. The real problem is that the price of gold is just not stable enough. People complain about inflation/deflation a lot these days but what we got now is heaven compared to what we had with gold.
Do we still own real gold??? I have no idea.
http://www.financialsense.com/fsu/editorials/kirby/2009/1112.html
THIS IS A MUST READ !!
Nam Vet
As much as people love $1,114/oz gold now, with inflation it's only twice what the price was in 1935. That same time frame saw a 120-fold increase in the real value of Dow Industrial stocks.
Seems like the trend is really trying to say something here.
“we’ll be trading in bullets, beans, and bandaids”
That was the investment advice I got. Food, medicine, ammo.
And I’ll add toilet paper, people will trade six cans of beans for a roll of TP.
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