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The Price of Gold: Does It Matter?

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Jim Mathias

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Re: The Price of Gold: Does It Matter?

PostFri Jul 26, 2019 12:20 pm

Wade Hampton III wrote:Russian Gold Top $100 billion!

Innoculuous posted....

Every time US prints money, (Quantitative easing) the purchasing power of the dollar halves!
Russia does not print money..It owes zero to the Fed!..It actually buys gold..Whereas US sells
gold it does not own! I know who I put my money on!
https://www.rt.com/business/465054-russ ... 0-billion/
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Funny caption below those gold units pictured, how does one know with certainty they're not plated tungsten? In light of US government duplicity regarding bars in it's possession that were transferred to the Chinese and then discovered to be phony, trust in government issues should be nil.

The Chinese are no better though, they have turned a blind eye to their own nationals counterfeiting enterprises, the products of which make their way to our land.
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostFri Jul 26, 2019 2:38 pm

Jim Mathias wrote:Funny caption below those gold units pictured, how does one know with certainty they're not plated tungsten? In light of US government duplicity regarding bars in it's possession that were transferred to the Chinese and then discovered to be phony, trust in government issues should be nil.

The Chinese are no better though, they have turned a blind eye to their own nationals counterfeiting enterprises, the products of which make their way to our land.


You may or may not be aware of the following: For many years, the Chinese Reds have been duplicating
US Twenty-Dollar Double Eagles and surreptitiously dumping them onto the US numismatic market.
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In a roundabout way, they are NOT counterfeits! They are fabricated from real gold bullion (90% bullion
and 10% copper) as is the genuine item. The copper alloy was used by the US Treasury to give the coins
increased durability, as pure gold for monetary usage would be impractical because gold is very soft in
its natural state and would wear out quickly. The scam occurs when the dups are marked up as a
numismatic item, when in actuality the Chinese piece has value only because of the bullion content of
the coin.
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Beautiful Chinese
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So...if you find yourself stuck with one of these little 'darlins, don't yield into total despair. You still have
value, but nowhere near what you probably paid.
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSat Jul 27, 2019 3:38 am

James Rickards: If Gold Was Just a Barbarous Relic...
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SS Central America Garden of Gold
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There’s nothing new about the Russian accumulation of gold bullion in their
reserve position. It began in a material way in 2009 when Russia had about
600 metric tonnes of gold. Today, Russia has 2,183 metric tonnes, a stunning
264% increase in less than 10 years. Russia is the sixth-largest gold power
in the world after the U.S., Germany, IMF, Italy and France. Russia’s gold
hoard is over 25% of the U.S. hoard, but Russia’s economy is only 8% the
size of the U.S. economy. This gives Russia a gold-to-GDP ratio over three
times that of the U.S. While these developments are well-known, the question
of why Russia is accumulating so much gold has never been answered.

One reason is as a dollar hedge. Russia is the second-largest energy producer
in the world. Most of that energy is sold for dollars. Russia can hedge
potential dollar inflation by buying gold. Another reason has to do with
the avoidance of U.S. sanctions. Gold is nondigital and does not move
through electronic payments systems, so it is impossible for the U.S. to
freeze on interdict. Yet a deeper reason is that Russia has a long-term
plan to subvert the dollar’s role as the leading global reserve currency.
The Russian ruble is not positioned to be a reserve currency, but a new
cryptocurrency backed by gold would be a good candidate.

The Central Bank of Russia will consider a new study that suggests just
such a gold-backed cryptocurrency to settle balance of payments among
willing participants. This plan is in its preliminary stages and is a
long way from reality at this point. Still, the Russian endgame has
now been revealed. The dollar’s days as the leading reserve currency
are numbered. Of course, Russia is not the only nation accumulating
gold as a means to move away from the dollar. You can certainly add
China to that list, and many others. The latest move comes from
Malaysian Prime Minister Mahathir Mohamad. He promoted the idea of
a common trading currency for East Asia that would be pegged to gold.
“The currency that we propose should be based on gold because gold is
much more stable,” he said.

I’ve actually advised Mahathir Mohamad in the past and he’s very
familiar with my writings on gold. So I’m not surprised he’s issuing
this call. The global monetary regime has collapsed three times
over the past 100 years, in 1914, 1939, and 1971. They seem to
happen about every 30 to 40 years on average. It’s now been over
40 years since the last collapse, so we’re due.

Got gold?
- Source, James Rickards
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostFri Aug 16, 2019 12:41 am

Jim Rickards posted....

Not many have ever heard of the Central Bank Gold Agreement, CBGA, also called the Washington Agreement on Gold. But it involves government manipulation of gold markets. The signatories were many of the world’s leading central banks. It was first signed in 1999 and was renewed for five-year terms in 2004, 2009 and 2014. The CBGA is a gold seller’s cartel. But there have been no sales by any signatories since 2010. The agreement is up for renewal in 2019, but it’s being allowed to lapse. Here’s why as of now, the age of central bank gold sales is officially dead and the age of central banks as gold buyers has returned. This is just one more reason why gold prices have been on a tear.
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Golden Girl
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https://www.reuters.com/article/europe- ... SL8N24R4YO
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostSat Aug 31, 2019 6:28 am

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Jim Mathias

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Re: The Price of Gold: Does It Matter?

PostSat Aug 31, 2019 11:57 pm

Wade Hampton III wrote:No Gold In Fort knox!

https://www.quora.com/Is-it-possible-to ... -your-loot
No gold? Not even genuine, U.S. government stamped gold-plated tungsten bars to scam the Chinese with? Darn it!
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Wade Hampton III

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Re: The Price of Gold: Does It Matter?

PostMon Sep 09, 2019 2:35 pm

The People’s Bank of China has added about 100 tons of gold to its reserves since December. Russia has bought 106 tons of the precious metal this year. “They can read the writing on the wall,” Euro Pacific Capital CEO Peter Schiff told FOX Business, adding that the two countries are “preparing for the world where the dollar is no longer the reserve currency.”
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No Fools
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https://www.yahoo.com/finance/news/pete ... 29989.html
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Jim Mathias

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Re: The Price of Gold: Does It Matter?

PostMon Sep 09, 2019 11:40 pm

Wade Hampton III wrote:The People’s Bank of China has added about 100 tons of gold to its reserves since December. Russia has bought 106 tons of the precious metal this year. “They can read the writing on the wall,” Euro Pacific Capital CEO Peter Schiff told FOX Business, adding that the two countries are “preparing for the world where the dollar is no longer the reserve currency.”
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https://www.yahoo.com/finance/news/pete ... 29989.html
Perhaps this thread ought to be renamed: "How Many Dollars Can You Get For A Piece Of Gold These Days" subtitled, "When The Dollar Takes A Huge Dump And Can't Buy Anything, Whaddya Gonna Do??"

I'm certain I won't be eating gold, but admit the stuff might have value for something else.
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