Gold to crash??

Gold to crash??

www.news.com.au

The Group of 20 has also ordered the IMF to sell billions of dollars of gold reserves to help the world's poor countries, and agreed on new rules on pay and bonuses for corporate chiefs, Mr Brown said after the one-day summit in London.

(visit the link for the full news article)

I am not a pro at this but I would imagine that if there is that much gold in circulation then the price will go down rather alot. Who will they sell it to? Why would they want to sell so much gold? I am really looking for the reasons behind this. I have read some opinions to opponents to buying up gold and they have claimed TPTB would do something like this. Are they going to flood the market with gold so most people will sell whilst they can and then buy it all up again? I'm guessing it's a way to make money whilst not inflating currency but deflating gold prices instead. hmm

www.news.com.au
(visit the link for the full news article)

[edit on 2-4-2009 by andrew123]

G20 agrees trillion-dollar deal to fight world eonomic crisis

Actual headline. True Story.

Maybe it will crash, maybe not.

However, the quote everybody in the other G20 thread is looking for is in this article!

Mr Brown said the International Monetary Fund and World Bank would undergo major reforms to reflect changes in the power structure of the world economy. "A new world order," he said.

They need approval from congress before the US IMF agent can sign off on it. AND they also have to sell it in accordance with the international banking gold sales agreement, so it will not affect the market in terms of supply/demand, only psychologically from all these anti-gold buffs claiming the market will crash.

That's a good point.

I'm not entirely sure about this... who would buy gold when its price is this high?

It does rather seem like the surplus supply would crash the price of gold... but thats just speculation from me.

Gold will never "crash", as its tangible currency. You may see price fluxuation, but over a long enough timeline it will always rise in price. If you think you are going to get rich quick investing in gold, aint going to happen. But over the long haul, you just might.

You want safety, invest in silver. Silver is trading today at a virtual equivalency of what it has been selling for for the last 200 years.

reply to post by cautiouslypessimistic


Not only that, but it's a precious metal. It's still rare enough that it will be worth something. So unless it becomes as abundant as say, copper or iron, I think it will always maintain a worthy value.

MAkes sense, and i do agree myself. BUt as a thought, supopse, hyptheticaly speaking, they want to crash gold, as a way to help crasht he dollar? Then introduce a new currency likes lets ay...the amero!
i mean, im not ecenomic major, but the dollar is backed by gold correct?

Originally posted by ziggy1706
MAkes sense, and i do agree myself. BUt as a thought, supopse, hyptheticaly speaking, they want to crash gold, as a way to help crasht he dollar? Then introduce a new currency likes lets ay...the amero!
i mean, im not ecenomic major, but the dollar is backed by gold correct?

No, it isnt. The dollar is backed by....THE DOLLAR!

Originally posted by cautiouslypessimistic

Originally posted by ziggy1706
MAkes sense, and i do agree myself. BUt as a thought, supopse, hyptheticaly speaking, they want to crash gold, as a way to help crasht he dollar? Then introduce a new currency likes lets ay...the amero!
i mean, im not ecenomic major, but the dollar is backed by gold correct?

No, it isnt. The dollar is backed by....THE DOLLAR!

No, it isn't. The dollar is backed by... faith and DEBT!

[edit on 4.2.2009 by Avarus]

reply to post by ziggy1706


The gold standard was abandoned in the U.S. back in the '70s.

www.essortment.com...

reply to post by andrew123


interesting point, perhaps if we had a scale of how much gold is in the market now we could see the drop....


time to buy perhaps!

midas resources!

Originally posted by 44soulslayer
That's a good point.

I'm not entirely sure about this... who would buy gold when its price is this high?

It does rather seem like the surplus supply would crash the price of gold... but thats just speculation from me.

People that finally realize that the world economies are crashing and need a place to safely place their money for when the new currency emerges?

My point is.. gold has gone up up up up yes? If they dump a whole lot of gold on the market it isnt going to crash to $1/oz obviously.. but it may go significantly below what people have recently bought it for. Or it may head that way and cause people to panic and "sell whilst they still can".

Originally posted by andrew123

I am not a pro at this but I would imagine that if there is that much gold in circulation then the price will go down rather alot. Who will they sell it to? Why would they want to sell so much gold? I am really looking for the reasons behind this.
www.news.com.au
(visit the link for the full news article)

[edit on 2-4-2009 by andrew123]

I suspect that they know that gold and silver will be made illegal to use as a means of trade very shortly.

Of course they will sell the gold and get the money, then the new world order will proclaim it as no longer accepted as a means of trade and set a very low value on both gold and silver because they don't want the competition it would bring against the new system of legal tender, which I surmise will not be a currency at all, but a global credit unit.

Think about it, how can the whole world get out of this mess all at once?

Only if the debt is declared null and void, and the old competitive system of many currencies is done away with. No reserve currency to sink the system like what will happen shortly when the dollar crashes.

Why do you think it says in the Bible that they will throw their gold and silver out in the streets?

To make room in their vaults for what will really matter, like non perishable food, and water etc.

Doom is coming...and I don't like doom, but it's just a fact we all must eventually face.

I'd guess that as China are wary of buying any more risky treasury bonds, and for the G20 plan to succed, that its the Chinese that have bought the first consignment, and may be poised to purchase more in order to bankroll the stimulus plan...



[edit on 2-4-2009 by citizen smith]

If gold tanks Im gonna go on a shopping spree. Ill never hold my savings in dollars anymore Im not going to be part to this corrupt system anymore. I hope gold goes down to $200 per oz

Originally posted by mybigunit
If gold tanks Im gonna go on a shopping spree. Ill never hold my savings in dollars anymore Im not going to be part to this corrupt system anymore. I hope gold goes down to $200 per oz

Prepare to shop MBU...Gold will crash because it is part of the problem, a means of trade that competes with any current or new reserve currency.

Outlaw money all together and also gold/silver and then any new trade system put forth will be accepted. Yes many will resist, but that's ok with them since the population needs to be culled.

Interesting that the mobs in London were shouting "abolish money"

A call for a new trade system that will happen, as it's the only real answer to our current problems.

reply to post by TH3ON3


"Doom is coming...and I don't like doom, but it's just a fact we all must eventually face. "

mmm...got a timetable? Fresh doom is my oh-so favorite. This decision to sell gold is out in the open, if it does cause doom, it will be a funny way of eliminating the element of surprise.

reply to post by pluckynoonez


I wish my psychic ability would work more often, but as for a time table, I would say within a few years, possibly as soon as early next year. I think every leader that matters in the world, understands the current system is doomed.

It takes time to plan out the specifics of this bold new vision for the world.

They are going to start selling gold like crazy to pump more liquidity into the failing system, and it will have the opposite effect.

So I predict doom, and I mean the really bad doom like Denninger and Celente are talking about, for early next year, at latest mid 2011.

Setting up for that interesting Mayan date around 12/21/12 to get nasty.

There's your daily doomcast plucky, enjoy.