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The Price of Gold: Does It Matter?

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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSun Jan 27, 2019 9:59 pm

Venezuelan authorities have offered Russian companies to take part in gold
exploration and gold mining in the country, according to Russian Ambassador
to Venezuela Vladimir Zaemsky.
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It Matters
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Apart from proven oil deposits, considered the richest in the world, Venezuela
is considerably rich in natural resources such as diamonds, gold, iron ore,
aluminum, bauxite, natural gas, and petroleum. According to a report by the
World Gold Council published in June, the country has 150 metric tons of gold
reserves, which makes it the 25th largest gold reserve in the world.

https://www.rt.com/business/447438-vene ... ploration/
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostThu Jan 31, 2019 4:12 pm

Dumping Dollars For Gold...

From Russia Today...

Gold has been an attractive asset throughout much of human history. Today's investors
use it as a safe haven against market volatility. But where did gold mining start
and what does the precious metal look like on extraction? Humanity learned to extract
gold centuries ago. The oldest known gold artifacts were reportedly found in the Varna
Necropolis on the territory of modern Bulgaria. The graves allegedly date back to
4200 BC, which shows that gold mining might be at least 7,000 years old.
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No Alternative
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The gold price rose to its highest level in more than a year on Thursday as investors
seek a safe haven after the US dollar dipped to a three-year low against a basket of
six major currencies. The precious metal rose as high as $1,370 during the trading
session before dropping six dollars, but still trading in the green compared to the
previous session. The 2016 high was $1,374.91.

“Gold is benefiting tremendously from the weaker dollar,” said ETF Securities analyst
Nitesh Shah, as quoted by Reuters. “With traders' base case scenario to sell the dollar
at all costs, gold prices should remain well supported on dips and could be poised to
move even higher on the next US dollar wobble,” said Stephen Innes, APAC head of trading
at OANDA. The US dollar fell to its lowest level in three years against major currencies
on Wednesday after US Treasury Secretary Steven Mnuchin said the US administration favors
a weak dollar in trade. On Thursday, Mnuchin confirmed his words.

“I thought my comment on the dollar was actually quite clear yesterday. I thought it was
balanced and consistent with what I said before, which is we are not concerned with where
the dollar is in the short term," he said, as quoted by Bloomberg. President Donald Trump’s
administration has repeatedly said that a weak dollar helps make American-made goods more
competitive with goods from China and other markets.
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSat Feb 02, 2019 3:50 am

Hungary latest country to repatriate gold....

Wade say, "Not bad for a 'barbarous relic'!"
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The Good Stuff
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From RT...

The National Bank of Hungary (MNB) has announced it is bringing home the
country’s 100,000 ounces (3 tons) of gold reserves from London. The decision
to repatriate gold reserves, in total worth some 33 billion Hungarian forint
(US$130 million), was also explained as being for safety reasons, in case of
a potential geopolitical crisis. It is also in line with international trends
as storage of gold reserves out of the country is now considered risky by many
central banks, including Austrian, German and Dutch regulators. They have
recently decided to repatriate their gold reserves.

Hungary's central bank has been keeping gold reserves since its foundation
in 1924. The amount was continuously growing until World War II. The largest
amount of gold held was around 65-70 tons at the beginning of the 1970s. The
bank then decided to decrease gold reserves to the lowest possible level and
invest in sovereign debt instead. In light of the Bretton Woods system’s
collapse, the decision was considered safer, more liquid and potentially with
higher yields.

At the beginning of 2010, the tendency to keep reserves outside the country
has changed again and central banks have started to accumulate gold as a
potential response to a financial crisis. The US and Germany are currently
the world’s largest holders of gold. Hungary has one of the tiniest amounts
of the precious metal compared with other Central European countries. Since
1992, Budapest’s activity has remained steady as the MNB hasn’t bought or
sold any of its gold reserves.

Wade says, "Ah for those thrilling days of yesteryear! February of 1978 saw
these Rands selling for $US188.00. No going back now!"
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In Gold We Trust
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSat Feb 02, 2019 4:48 am

Jews Arrested For Gold Shenanigans...

The police believe the men — Reuben Rosen, 58, an executive at a precious metals
importer, and David Cohen, 55 — belong to a group suspected of similarly smuggling
a total of some 4 tons of gold in 50 batches since March 2017, and selling it in
Japan.
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Yid Weasels
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SOTT – Japanese police arrested on Wednesday two Israeli men living in Tokyo for
attempting to smuggle 220 kilograms of gold nuggets in 2017 — the largest haul
seized in the country. They were also held for alleged violation of Japan’s
customs law by successfully smuggling by air a further amount of about 200 kg
of gold — worth some 924 million yen ($8.42 million) — disguised as auto parts
from Hong Kong, in November 2017, and evading some 70 million yen in consumption
tax. The police believe the men — Reuben Rosen, 58, an executive at a precious
metals importer, and David Cohen, 55 — belong to a group suspected of similarly
smuggling a total of some 4 tons of gold in 50 batches since March 2017, and
selling it in Japan.

Investigators believe gold nuggets were bought by a third party in Hong Kong
and that the two Tokyo residents were receivers of them. The 220-kg nuggets,
worth 1.02 billion yen, were found by customs officials at Narita airport,
near Tokyo, on Nov. 3, 2017. Rosen has admitted the allegations while Cohen
has denied some of them, according to police. Following Japan’s consumption
tax hike to 8 percent from 5 percent in 2014, the country has seen a rise in
the number of gold smuggling cases aimed at evading the tax, which is applied
to imports of the precious metal, according to the Finance Ministry
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostFri Mar 01, 2019 12:18 am

He who has the gold....RULES!

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https://www.globalresearch.ca/us-army-t ... ia/5669876
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Jim Mathias

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Re: The Price of Gold: Does It Matter?

PostFri Mar 01, 2019 12:35 am

Wade Hampton III wrote:He who has the gold....RULES!

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https://www.globalresearch.ca/us-army-t ... ia/5669876
On the presumption (hopefully false) that you own gold, the question becomes, what do you rule?

A rhetorical question. ;)
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostFri Mar 01, 2019 2:27 am

Jim Mathias wrote:On the presumption (hopefully false) that you own gold, the question becomes, what do you rule?


The Official Price of Gold is Only $42.22/oz. For many decades now Americans
have been allowed to own gold and silver and, despite gold and silver trading
in the vicinity of $1200/oz. and $18/oz. respectively, the “official” price
of gold is still $42.22 per ounce. As such, all holders of gold bullion coin
should take the “official” price of $42.22 per oz. very seriously when
accumulating gold for protection. If not, you could be setting yourself
up for a hard lesson in how our government may treat that bullion in the
future. If you think that cannot happen read this:

In 1979 The Franklin Mint shipped a substantial number of Krugerrands on TWA.
The shipment was lost by TWA, so the Franklin Mint sued to recover its loss
at the actual market price of gold. In Franklin Mint Corp. vs. Trans World
Airlines, the Supreme Court ruled that gold bullion values in commerce are
limited to $42.22 an ounce. That’s all they received!
http://www.mining.com/beware-official-u ... ly-4222oz/
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Jim Mathias

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Re: The Price of Gold: Does It Matter?

PostSat Mar 02, 2019 12:06 am

Wade Hampton III wrote:
Jim Mathias wrote:On the presumption (hopefully false) that you own gold, the question becomes, what do you rule?


The Official Price of Gold is Only $42.22/oz. For many decades now Americans
have been allowed to own gold and silver and, despite gold and silver trading
in the vicinity of $1200/oz. and $18/oz. respectively, the “official” price
of gold is still $42.22 per ounce. As such, all holders of gold bullion coin
should take the “official” price of $42.22 per oz. very seriously when
accumulating gold for protection. If not, you could be setting yourself
up for a hard lesson in how our government may treat that bullion in the
future. If you think that cannot happen read this:

In 1979 The Franklin Mint shipped a substantial number of Krugerrands on TWA.
The shipment was lost by TWA, so the Franklin Mint sued to recover its loss
at the actual market price of gold. In Franklin Mint Corp. vs. Trans World
Airlines,[color=#FF0000] the Supreme Court ruled that gold bullion values in commerce are
limited to $42.22 an ounce.
[/color] That’s all they received!
http://www.mining.com/beware-official-u ... ly-4222oz/
Ahhh... so that's who really "makes the rules" eh? We're getting closer to the truth now, I reckon.
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSat Mar 02, 2019 3:21 pm

Jim Mathias wrote:Ahhh... so that's who really "makes the rules" eh? We're getting closer to the truth now, I reckon.


I'm not quite sure what you are driving at. However, the USofA Treasury Department still list the
"official" price of gold at $42.22/0z. With gold now trading north of $1300/oz, I'd say that is a
pretty good distance from the "truth!"
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostTue Mar 05, 2019 3:54 am

When you use a certain form of money you want the value to be maintained
as much as possible. The value is depending on supply and demand, thus
you want something with an as small as possible supply. When an asset
goes up in value because the demand goes up, people will start create
more of it and thus increase the supply. This increased supply will
reduce the price and the people who create the new money will receive
this value. Many thing have been used as money in the past and gold was
the final winner of the competition because it is the hardest money people
have ever found. This means that it is the asset whereof it is the hardest
to increase the relative supply. Gold is hard to mine and because it is durable
there are huge stockpiles from thousands of years of accumulation. Here more
about hard money:
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Hard Stuff
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https://youtu.be/kLk5-pwCMjs
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