WARNING ! Gold at $1224.10 and rising fast.. Chinese dumping US DOLLAR !!

reply to post by watcher73


I don't follow the point of your post.

And what?

There was never any meat to that paranoia about Japan. It was just popular paranoia, and never based on any kind of fact.

Can you state your point?

reply to post by Toadmund


Theres a ton of those adverts over here on the UK TV, like at least 1 advert per break, the Gold is a tangible asset , something you can hold in your hand, so why not buy a lot of it while you can using bits of fabric? The Dollar IS on its way out, use a rapidly degrading monetary unit to buy a solid object?
Then when the Dollar finally coughs its last you still have the gold to show for it, the person you gave the Dollar bill to has nothing. Whoever buys the gold will be laughing their ass off, they will then exchange the gold for any new currency unit.

It seems to me that ALL currency is on its way out, what will replace it I have no idea, but gold and precious metals , gemstones and such will still be profit waiting, antiques and art will be second class assets.
Buy as much as you can, even old gold from family relatives, ALL gold and silver will be valuable , don't go crazy selling your house for it, buy it in small amounts as you can afford it, but don't forget if you can get a sizeable amount it'll help, don't be tempted to sell gold to the TV ads though, like I stated earlier , you'll be worse off, but the person who bought it will be laughing at you, don't give them the opportunity no matter HOW DESPERATE you are.

reply to post by TrueTruth


Very good explanation of the situation, this process has been going on for the last 30 years I would say, while escalating toward the end of its cycle.

The US has been outsourcing and selling off all of its sustainable resources for greed, and in exchange converting a manufacturing country into a service debt economy ......... RENTERS. pay off your mortgage and they can still take your home.

I am afraid the time to act has long passed!! all to do now is enjoy the ride down....................

[edit on 3-12-2009 by svpwizard]

even if gold is in someone's bubble,
I'm going to hold on to my Gold & PM equities for at least 4 more years.
~heck, i'm even going to buy more at most 'pullback' opportunities,
like when gold retreats to $1k oz. & gold mining stocks quickly drop in price.~

There is a least a 4 year horizon of really good price appreciation for gold...
$- witness all the increased production of gold mining in China & China's stance of encouraging their citizens to hoard gold.

$- witness that SouthAfrican gold mining is going down the tubes, with revised estimates of gold reserves something like 20% below the rosy estimates of a few years back.

$- witness the fact that BarrickGold has successfully 'closed' its Gold Hedge Book...and no longer 'forward sells' any gold production, to make money today.

$- witness that All Central banks are now buyers & hoarders of the finite existing gold bullion & the much decreased annual gold production from mostly tapped-out mines.

again, i and other gold-bugs 'see' at least 4 years until the gold craze goes hyper...much like the zaney markets of real-estate buyers & house/condo 'Flippers'... Only then will the Gold be in a bubble & it will be the time-frame to sell....hopefully at the top of the frenzy.

reply to post by bettermakings
Let me clear up a couple of things first for ya that will help you better understand why the dollar is set to collapse, okay?

First, you said in your reply that even Iraq is using the dollar now? Alright, now you know why GW Bush invaded Iraq don't ya? In november of 2000, Saddam switched from the dollar to the euro in the food exchange for oil program, see this link:www.rferl.org...

Now, back then, the euro was weaker than the dollar. One euro was worth about .82 cents to 1 american dollar, but now, one euro is equivalent to $1.25 american! See, the euro has really gained some ground since 2000 hasn't it?

Secondly, let's understand american debt. As of right now, all american debt according to our national debt clock stands at about 460+ trillion dollars! This can be seen at: www.usdebtclock.org...

That's about $345,000.00 for every man, woman and child owed, and it's climbing by the second! This is what happens when you go from a currency backed with a solid standard of collatoral like we had with gold, to a mere fiat currency. Fiat currencies never work! They have been tried before, and the end result was always the same, total collapse.

To prop up a fiat currency, you have to keep printing literally tons of it and hope your trading partners will continue using it as a mainstay in their own national currency exchanges, for if they don't, then hyperinflation hits, and then it's bigger brother, "super" hyperinflation follows!

Hyperinflation is what has brought gold and silver to record trading highs, and is what has made many nations like India halt using american dollars for much of their vacationing resorts. In many european countries right now, a hundred dollar bill won't buy you a cup of coffee!

The dollar was what brought about the housing crisis, and the oil crisis. It's merely money manipulation, and he who controls the money, wins the game, and the one controlling the money is none other than the House of Rothschilds!

FDR himself said that there are NO coincidences of anything pertaining to the gov't, and that things happen for a reason and are carefully planned way ahead of time! And time will tell just how much more time we all have until our sovereignty is gone! The UK lost her sovereignty this past monday, and will no more be a self-controlling governed nation.

America is the last remaining great sovereign nation, at least for a little while longer!

reply to post by thewind


just one minor point - we don't yet have hyperinflation.

when a loaf of bread costs $100,000, then we have hyperinflation.

reply to post by TrueTruth
just one minor point - we don't yet have hyperinflation.
--------------------------------------------------------------------------------------
Well, here's a major point to counter your minor one. Hyperinflation is on it's way, and as early as 2010, see report here:www.shadowstats.com...


Also, one more thing I need to point out to ya which is this. We do have hyperinflation right now, but it's scattered and sporatic. Allow me to explain please.

In farming communities, fertilizer that only about 2 years ago cost $145.00 per ton, now costs more than $750.00 per ton! Farming fuel costs have skyrocketed, the ammount of farming debt that can be written off anymore on taxes has declined dramatically, and the price of tractors and other pieces of equipment have went through the roof!

Cattle prices for beef are down almost 2/3 and dairy prices for milk is more than that! You say you'll worry about it when you pay 100,000 for a loaf of bread?? Well, here where I live, a loaf of bread that was about $1.20 a year ago is now $2.00, and a green and red bell pepper will cost ya about $1.50 each!

Car prices have jumped about 30% in the last 3 years, along with auto insurance rates, auto mechanic rates per hour, and the cost of servicing your car or truck! Tires have increased better than 28% in the price per each tire, and apr rates for auto loans are extremely high!

Right now we're on the very cusp of hyperinflation, and many are not even aware of it!

reply to post by thewind


Even that fertilizer example is not hyperinflation

www.econlib.org...

Could we see it in the next couple-few years?


Maybe. It's a possibility. But it's not now, and it's not inevitable.

Shadowstats is is a great website, isn't it?

I'm a huge fan of ChrisMartenson.com as well (which is where i heard about s.stats)

Just sayin' - it's easier to make the necessary appeal to our countrymen if we can avoid hyperbole and inaccuracies - that's all.

In general, I'm right by your side, however. We see the same clouds forming.


Are you making any preparations?

[edit on 3-12-2009 by TrueTruth]

[edit on 3-12-2009 by TrueTruth]

To those who don't believe in a gold bubble... good luck to you!!!

COMEX (GETF or Gold Exchange Traded Fund) gold is NOT real gold. It is a stock, a "share" of gold. Right now it is estimated that there are 80 to 100 times MORE shares of gold than there is actual gold. If those holding GETF gold executed a call on their holdings, The GETF representing the trade would not be able to fulfill its obligation to deliver simply because the gold only exists in theory, not reality.

The important thing to keep in mind here is that there is no real currency peg to gold, other than what the market says it is. We abandonded the gold standard under Nixon which effectively put the value of gold out in space subject to the whims of the traders, not the GDP of the nation holding it.

The bottom line is that gold is only valuable in its physical essence and its value is only what someone is willing to trade in exchange for it. Since there is no currency peg to gold, the whole notion of "value" is speculative and subjective. This bubble will most certainly burst as all other bubbles have. If you are looking to own gold, you had better make sure that you are buying physical gold - and only buy it as hedge against currency, not as a money making investment.

reply to post by kozmo


So it looks like Golds going to be the new form of money seeing as that doesn't really exist as well? Money made up out of thin air, ask the Fed and the Bank of England

after reading the article, i guess the best thing to do for a city dweller is take paper dollars to a coin shop and buy up as much as you can, silver coins, and if you have enough cash, gold coins. however, if uncle ben starts raising interest rates, there is going to be a quick down turn of the precious metal value and thus silver and gold coins will lose some of their value. buying up cases of spam and sardines, in large enough volumnes, seems impractical. suggestions????????

reply to post by DataWraith


Um, yeah... more than likely, but not in a traditional sense. Fiat currency (Currency backed by debt or a future promise to pay based on productivity) has always failed. It is, in and of itself, a bubble that will inevitably burst. We're seeing it right now. The artifical peg of the price of gold to currency is evidence that the currency is falling in value and is dictated by it's "trade" value. As a result, as currency continues to fall in value, gold will increase, but it is really a misnomer. At some point gold may hit $20,000 per oz. That only means that the currency being used to buy it is that much less valuable, not that gold is that much MORE valuable.

When (if) this thing completely unwinds, gold will only be as valuable as those willing to trade for it. Last I checked I can't eat gold, build a shelter out of gold, cloth myself in gold or treat myself medically with gold. To the common individual I am willing to bet that those items will have a much higher value than gold. And since gold won't be widely available it will be a sort of currency reserve. I expect that people will end up bartering amongst themselves before we see gold being used as currency.

Let's face it folks... the world is changing in ways that we can never have imagined. The old system is dying and it cannot be saved. They are only managing to slow it's crash, but I seriously doubt that it can be stopped. Who knows... hopefully I'm wrong.

Originally posted by kozmo
To those who don't believe in a gold bubble... good luck to you!!!

COMEX (GETF or Gold Exchange Traded Fund) gold is NOT real gold. It is a stock, a "share" of gold. Right now it is estimated that there are 80 to 100 times MORE shares of gold than there is actual gold. If those holding GETF gold executed a call on their holdings, The GETF representing the trade would not be able to fulfill its obligation to deliver simply because the gold only exists in theory, not reality.

The important thing to keep in mind here is that there is no real currency peg to gold, other than what the market says it is. We abandonded the gold standard under Nixon which effectively put the value of gold out in space subject to the whims of the traders, not the GDP of the nation holding it.

The bottom line is that gold is only valuable in its physical essence and its value is only what someone is willing to trade in exchange for it. Since there is no currency peg to gold, the whole notion of "value" is speculative and subjective. This bubble will most certainly burst as all other bubbles have. If you are looking to own gold, you had better make sure that you are buying physical gold - and only buy it as hedge against currency, not as a money making investment.

ok..if i take what you say, is actually going to happen...how would a person say, with 50,000 cash, use that to their benefit???

reply to post by kozmo


Gold's value is arbitrary - no doubt. Yet for some reason, it has never had zero value. And metals have served well more than once as a means to weather a currency crisis.

Everyone's guessing now. We could just as easily lose our shirts holding dollars.

But, at least gold and silver next completely collapse. Arbitrary as it is, they've been considered a form of money for thousands of years. When Argentina's economy went down, silver became currency - and it's still useful today there.

That's why I own some. Not to make money. It's an insurance policy. I won't make money off my food stores or emergency supplies either, but I sure feel safer having some.

Even if I had to flee the country, I could haul it with me, and convert it wherever I land...

you get the point.

reply to post by 2compelled


Yes, I have totally noticed and agree with you. My husband and I do believe the theft of gold from the little poeple is taking place before our eyes. I told the ladies throwing the gold party to hold onto their gold, but they just rolled their eyes at me. $ signs for a quick buck to pay for xmas tempted me to go and get rid of a couple of junk items, but you are right, need to hold my gold.

India's recent purchase of gold probably has alot to do with market value. Also there is not much more gold in the ground, reserves have dried up, mining has slowed, extraction is costly and poisonous.

do any of you people remember the last time that they over inflated gold . every one who jumped on the band wagon lost their shirts ,remember the old saying-BUY CHEAP SELL HIGH- so who is controlling this ponzi scheme of theirs once again.i guess that greed reigns supreme until you lose it all and the world comes crashing down again. and who gains from it only those who bought it at 600 and sold it for about just what its cost is now and all the little people go away crying in their beer.
then all of a sudden the interest rate has to rise dramatically to pay for their GREAT MISADVENTURE ,guess we get stuck again. last time they pulled this the mortgage rate hit 20% compounded and a lot of good people lost everything and the banks owned it all -oh what a killing they made off of us all in more ways that you could count ,they control the MARKETS and the MONEY oh what a scam . THIEVES and LIARS.

Originally posted by badgerprints
There is no gold bubble.

It's a dollar bubble.

Gold is an inert commodity with intrinsic physical value. It won't ever lose or gain value. It will simply have a price tag that varies. That price tag in dollars is going up because the dollar is dropping.

The dollar is a piece of paper that is approaching worthlessness because our politicians and the fed have made it that way.

Dollar bubble.

[edit on 2-12-2009 by badgerprints]

Spot on, spot on. You hit it right on the head. It's not that gold is going up but it's the dollar going down in value which in turns gives the impression that gold is going up. If you value gold in Euros it would be 600 Euros instead of 1200 dollars in greenbacks. So as the one person said that it's a gold bubble and that gold will go down, it doesn't explain the difference in value in regard to the Euro. If the bubble poster says gold is overvalued, then the Euro is overvalued. If that is the case then they actually admit that currencies can be overvalued and/or undervalued, which in essence say they can lose or gain value with relation to one or more objects. The dollar is being devalued and the rest of the world knows it. The US is doing everything they can to keep this knowledge from their us, and it's really not that hard. They know that once people don't get their govt. checks, they will go crazy because they won't know what to do. To be honest with you I truly believe that we should have an economic collapse. We as a nation and a people have been sold a false bill of goods from our leaders both political and religious.

We have been able to stomp on, disrespect and be intolerant of other people because we thought that everybody wanted to be like us and needed us because we are rich. In reality we aren't rich, were broke as hell. It's the old joke of when you owe the bank 100,000 dollars you have the problem, but if you owe the bank 1 billion dollars both you and the bank have a problem. And that's what has happened, everybody has so much of our greenbacks and assets in greenbacks that they can't allow a unorganized dumping of the dollar. That is why many of the countries have been meeting in secret about getting rid and/or reducing the amount of dollars they have. They want of the ship, but they don't want to fight everybody getting to the life raft.

This is why I think that the dollar will collapse.

Russia ready to abandon dollar in oil, gas trade with China

BEIJING, October 14 (RIA Novosti) - Russia is ready to consider using the Russian and Chinese national currencies instead of the dollar in bilateral oil and gas dealings, Prime Minister Vladimir Putin said on Wednesday.

The premier, currently on a visit to Beijing, said a final decision on the issue can only be made after a thorough expert analysis.

"Yesterday, energy companies, in particular Gazprom, raised the question of using the national currency. We are ready to examine the possibility of selling energy resources for rubles, but our Chinese partners need rubles for that. We are also ready to sell for yuans," Putin said.

He stressed that "there should be a balance here."

On Tuesday, Russia and China agreed terms for Russian gas deliveries at a level of up to 70 billion cubic meters a year. China also imports oil from Russia.

The Russian prime minister said the issue would be addressed among others at a meeting of Shanghai Cooperation Organization (SCO) finance ministers, who are to convene before the end of the year in Kazakhstan.

Britain's Independent newspaper reported last Tuesday that Russian officials had held "secret meetings" with Arab states, China and France on ending the use of the U.S. dollar in international oil trade.

The countries are reportedly seeking to switch from the dollar to a basket of currencies including the euro, Japanese yen, Chinese yuan, gold, and a new unified currency of leading Arab oil producing countries.

The Independent said the meetings have been confirmed by Chinese and Arab banking sources.

The Dollar's Decline Does Matter

Since World War Two, the dollar has been the world's reserve currency. Foreign governments hold most of their reserves in dollars. Commodities - most notably oil - are priced in dollars. And most useful of all for the American government, when it needs more cash to finance its deficit spending, it can just print more IOUs to fob off on foreigners.

Most Americans probably think things were always that way. But in the nineteenth and early twentieth centuries, it was the British pound that was the world's reserve currency, and before that, the Dutch guilder, etc., all the way back to the Roman dinarius.

Currencies come and go, like empires. At the beginning of the twentieth century, when it ran a costly empire that spanned the world, Britain was the world's biggest creditor. Within a generation, both the British Empire and the pound were shattered by two world wars and economic mismanagement.

America has not yet reached that point, of course, but we ignore the lessons of history at our peril. Unless we put our economic house in order and stop living beyond our means, we could go the way of the British.

Originally posted by brocket99
Heres what's really happening.

Everyone who owns gold is saying to buy gold. Just like everyone who was making tons of money in the stock market or real estate wants you to buy their product.

Golds bubble will burst, and the common man who is holding the bag and bought at the highs will lose their shirt. Just like every other manipulation in our history. Is that now? $2k an ouch? $3k? $1500?

Now is the time to sell and buy other things on the cheap. Including US dollars.

te he

alex jones comes to mind. "everyone go back to watching TV, there is a sale at the mall go buy!"

I AM an investment advisor. We just released a report. Golds target price 2500 conservative. Dollars forcast is weak. I have 80% in foreign, about 50% in china and 30 in developing countries. 205 in US stock that pays about 10% dividend. Its an energy pipline play (Im only 22 so not a ton of cash to play with yet .


Wanna make some $? keep your dollars in baskets of currencies, better yet defensive plays across the world, like energy, (in yuan, rupees, real) and your money will appreciate and still be safe. Do't give these crooks in DC and the fed board your WEALTH. keep it safe for a bit. once the dollar depreciates (conservatively 15-30%) and we can start exporting strong (which we don't, the US needs products), then and only then will we start balancing out. India is good. China is fine. Brazil is tempting. Gold is tempting. Dollar. Ehhh. Dow 500? not so bad! might have till 1200 conservatively right now. Still might wanna protect it, and I just don't wanna play in the US right now.
[edit on 3-12-2009 by vonholland]

[edit on 3-12-2009 by vonholland]