Please. Sell your Gold NOW! It's a trap.

Originally posted by sbctinfantry

Originally posted by camaro68ss
reply to post by sbctinfantry

 

You make no sense and you only think in absolutes. There is no gold bubble. Yes there might be a small correction but as long as the global economy keeps printing out fiat currency, gold and silver will keep going up/hold its value.

All this “you’re going to be starving with your gold bars asking for food and no one will trade you for food” or “you can’t eat gold” well you can’t eat fiat paper either yet you hold on to it like it has value.

For those like me, we store food, water, have our guns, land, and cattle. Once we bought all we need to survive the end of the world, we convert the rest of our wealth into gold and silver. Its that simple

I'm pretty sure I haven't once indicated that fiat currency is superior to gold. The trolls are coming out of the woodwork.

I'm also sure that I advised taking any gains on gold and converting them into real assets.

Land
Energy
Water

That's fine for you guys that have it all figured out, I'll keep not making sense until I say I told you so.

Gold was at a high price in Egypt until they came in that year. The mithqal did not go below 25 dirhams and was generally above, but from that time its value fell and it cheapened in price and has remained cheap till now. The mithqal does not exceed 22 dirhams or less. This has been the state of affairs for about twelve years until this day by reason of the large amount of gold which they brought into Egypt and spent there
—Chihab Al-Umari

“Everything has its limit – iron ore cannot be educated into gold”, Mark Twain.

Gold will crash. Markets do not go in straight lines forever. Anyone who stands back with an objective view knows that gold is a bubble waiting to burst. There are only buyers, no sellers. Paper stocks are being dumped. This has happened before, with silver. It's over, folks. Time to get out of the game while you still can. Just because you're holding physical gold, does not mean that everyone is. There is only so much gold, and only so much available to sell in the market.

Gold in antiquity was relatively easy to obtain geologically; however, 75% of all gold ever produced has been extracted since 1910.[39] It has been estimated that all gold ever refined would form a single cube 20 m (66 ft) on a side (equivalent to 8,000 m3).[39]

Source : en.wikipedia.org...

Silver Thursday was an event that occurred in the silver commodity markets on Thursday, 27 March 1980. A steep fall in silver prices led to panic on commodity and futures exchanges.

BackgroundNelson Bunker Hunt and William Herbert Hunt, the sons of Texas oil billionaire Haroldson Lafayette Hunt, Jr., had for some time been attempting to corner the market in silver. In 1979, the price for silver jumped from $6/oz to a record high of $48.70/oz.
-snip-
But on January 7, 1980, in response to the Hunt's accumulation, the exchange rules regarding leverage were changed, when COMEX adopted "Silver Rule 7" placing heavy restrictions on the purchase of commodities on margin. The Hunt brothers had borrowed heavily to finance their purchases, and as the price began to fall again, dropping over 50% in just four days, they were unable to meet their obligations, causing panic in the markets.

We sounding familiar yet? I'm pretty sure there was a headline about placing a margin hike on gold and silver... hrm

www.etftrends.com...

Oh yeah, there it is. Seems like everyone who was anyone got out of EFT's because, hey, why buy the real thing if you know when to dump the fake?

That kind of reminds me of a story...

The Hunts were unable to meet the margin call, and, with the brothers facing a potential $1.7 billion loss, the ensuing panic was felt in the financial markets in general, as well as commodities and futures. Many government officials feared that if the Hunts were unable to meet their debts, some large Wall Street brokerage firms and banks might collapse.[2]

To save the situation, a consortium of US banks provided a $1.1 billion line of credit to the brothers which allowed them to pay Bache which, in turn, survived the ordeal. The U.S. Securities and Exchange Commission (SEC) later launched an investigation into the Hunt brothers, who had failed to disclose that they in fact held a 6.5% stake in Bache.[3]

-snipperoo-

In 1988, the brothers were found responsible for civil charges of conspiracy to corner the market in silver. They were ordered to pay $134 million in compensation to a Peruvian mineral company that had lost money as a result of their actions. This forced the brothers to declare bankruptcy, in one of the biggest such filings in Texas history.[5]

So the banks cornered the market, had some guys take the fall, got a bailout, and still came out on top. The guys that took the fall even came out on top, sort of.

I'm not willing to hold your hands any further. If you don't like what I'm saying, fine. Back it up with a fact or two, please.

"That which has been is that which will be,
And that which has been done is that which will be done."

Solomon

Fun Facts :

1) The silver market dropped 50% in 4 days
2) The silver ounce price in 1979 shot from $6 to $48 – and then plunged all the way back down again. The silver price has never gone back up. Yet.

The 1944 Bretton Woods Agreement created a gold-based currency system with the US Dollar (USD, aka the Federal Reserve Note), as the benchmark to facilitate international trade between capitalist states. Bretton Woods was never a global system. It was a capitalist system. It included some countries, and excluded others, like Eastern Europe and anything which looked socialist or communist.

Back then, the US economy was in good shape: it held 80 percent of the world’s gold reserves; it held the world’s only atomic bomb; and it had the world’s most powerful army. The US also produced half of the world’s coal, two thirds of its oil, and more than half of its electricity. It also produced great quantities of machinery, ships, airplanes, vehicles, armaments, machine tools, and chemicals. Britain and Europe were broke, Japan was decimated, and the rest were not part of the capitalist game.

Since the Bretton Woods Agreement, the US asset base has moved from gold, through real estate, to future debt obligations. By the 1990s, industrial production had moved offshore from the US, and credit market growth has been fuelled by credit itself as an asset to lend against, mostly in the form of CMBS (Commercial Mortgage Backed Securities), CDO (Collateralized Debt Obligations), and credit cards. This works as long as the credit cycle keeps growing, which, of course, it never does. Banks further exacerbated this credit leverage, by moving these credit products off balance sheet to reduce their capital adequacy requirements, further leveraging this debt.

-Sam Barden

your pulling facts from the past that have nothing to do with todays markets. how is gold going to crash when all currences are trading lower and lower due to printing.

I think your just mad that you never bought any gold cheap and your trying to talk it down and get someone to sale it to you for nothing. fat chance.

O by the way, Im far from a troll so shove it.

The man is spot on. Here is why I personally believe this to be so and have been preaching to my co-workers and family to get out of the market and DO NOT believe the gold hype.

1. Why is gold "valuable?"

2. What can gold be used for?

3. Why are the majority of small and larger media sources alike advertizing to buy gold?

4. What happens when you have gold and things do collapse?

ANSWERS:
1. Gold is only valuable because people place value in it just like any other currency throughout world history. Think about the uses for gold, do you see it or use it every day?

2. It is not a great electrical conductor, you cannot eat gold, it is not a strong metal that can be used for construction on a large scale and will not serve any survival assistance. To the gold supporters who claim medical value or for the use of computers and aircraft: Copper, nickel, silver, lead ect....all these other metals are much more abundant and either conduct better, block radiation better, and again much more readily available.

3. I question information, do you? Since when is CNN, MSN, FOX, ABC, CBS, or WALL STREET concerned about us the consumer? We should go buy gold to protect ourselves against the coming collapse (I do believe one is coming very soon) while on the other hand trying to assure investors with phony job reports, market manipulations, ect. If it is so important to have why hasn’t gold hit the 5k an ounce so many have claimed should have come by now? People buy gold as a conversion tool from one currency to another or to get out of currency into something truly valuable like things humankind needs to survive: (food, water, shelter and in some cases energy)

4. So consider the possibilites and outcomes of this crazy global financial mess:

A. Feds print more and more money until the value of a dollar is useless and the full faith and credit of the US has been destroyed. Will your employer pay you in dollars, gold or a new currency? At that point will you have a job at all? Answer: most will not have a job since America produces almost nothing that the world needs therefore our consumer based society will come to a dead stand still aside from the basic human needs. You won’t need to be paid, review history (this is called hyperinflation and it has happened before i.e. Weimar republic) in short in 1923 a 50 million mark note was worth approximately 1 US dollar. This will cause panic and chaos and gold won’t matter at all because who will accept it? Gas stations and grocery stores won’t have scales and a mineral expert to evaluate your payment, come on.

B. Switching currency: horrible mess in that the exchange rate will be bad for dollars to anything. Gold will increase for a short while during this period until people are unable to acquire it. If you’re not being paid in gold and you’re not finding gold but instead using it to buy yourself survival items (food water shelter) you eventually run out. UNLESS you are PRODUCING what people need (food water shelter) are you seeing the light yet? Gold is good for a while but worthless in the long run.

C. Government takes your gold: please see executive order 6102. It could happen again folks AND PROBABLY WILL IN ORDER TO REPAY FORIEGN DEBT. They don’t have to come knocking at your door either domestic terrorist style, they can make it illegal like gold prohibition or freeze ETFS, safe deposits or they could kick your door in with homeland security.

Solution: Have a small savings of cash and gold or silver but a much larger supply of food and drinkable water. Ideally plant a garden, store seeds, have food and water storage for at least a month (until you can be placed at a FEMA location. LoL)

I am a history major and work at a private university, I have nothing to gain by telling you this other than my genuine concern for my fellow man whom I consider a brother within the family of Adam. If you feel I lack wisdom or this is unsound advice dont follow it. I will give to those who ask, for Jehovah Jireh is my God.

Read books and review history.

The most hated sort of money-making, and with the greatest reason, is usury, which makes a gain out of money itself and not from the natural use of it-for money was intended merely for exchange, not for increase at interest. And this term interest, which implies the birth of money from money, is applied to the breeding of money, because the offspring resembles the parent. Wherefore of all modes of money-making, this is the most unnatural. -Aristotle

reply to post by camaro68ss


Great info and yes Gold will crash hard and quick. Once THE crash happens ALL currencies will crash it is designed that way once you have a global marketplace. By the way dont cite wiki anything it is not a scholarly source as anyone can modify its contents, just a tip even though your info is correct.

reply to post by ShadowMonk


you have a great question and raise good points. Seems to me he who has gold keeps it and when the bottom drops out from under it, he buys even more for way less. Soon he has much much gold.

Small guy wants to have a living...Big shot wants an empire

I am a nobody with nothing so I am all ears.

reply to post by ShadowMonk


The government can manipulate the price of gold easily. Interest rates have a direct bearing on the price of gold. As interest rates rise, the price of gold tends to fall. The other way to manipulate it is if i have large quantities of gold and i dump it into the market i can get a decent rate but people after me will lose money because i caused the prices to go down by increasing the supply. ( i have a feeling theres a couple of financiers thinking about this sell there gold cause price to drop come back buy it at a lower rate they get there gold back and some extra cash.) Not to mention gold has an intrinsic value its only worth what people are willing to give for it. And the funy part people think there getting more money as the price of gold increases the odd thing is your not. Its tied to US currency easiest way i can explain this is inflation things cost more now then in 1950. as gold prices rise the amount of money you have to spend on products goes up as well. (gas groceries ect) Heres a clue if there was huge money to be made in gold why are all these companies trying to sell you gold? Shouldnt they hold on to there gold? think about it.

People don't buy gold to make money. Or if you do you will probably get burned. They buy gold as an insurance policy against currency collapse.

When your dollar has hyper-inflated to zilch the gold will still have value. It will retain value. Its affected by supply/demand but it wont fall to zero unless somebody invents an alchemy machine. Thats why its worth having some locked away. Its a form of money that wont fall to worthless. If you get to your old age and you never had to use it thats great. Its a nice heirloom for the next generation. If you do you need it you will be glad you have it.

This 'buy gold' media mania must be a purely USA things because there is nothing of the kind here in the UK. There are no 'buy gold ' adverts and all the MSM says stay away from gold. Nobody here has a clue why you would have it.

The level of ignorance about finance and economics in this thread is laughable.

Gold is due for a bit of a correction, around 15% at the outset. The underlying trend and fundamentals that are pushing precious metals are still there and that's the lack of confidence in fiat currencies. Silver went vertical and pushed to almost 50 and corrected to the low 30s and is back in the mid 40s. If gold corrects, it will still hit 2000 by Dec 3st. If it doesn't correct the train will be leaving the station and the sky is the limit.

To those that say you can't eat gold and silver, you are missing the point. Gold and silver is for investors, not the average man in the street. It is a store of WEALTH and it's also a hedge against inflation. Put it this way - if you had $100,000 saved in the bank accruing 5% interest you are likely losing some each year to inflation as the true rate of inflation is conservatively around 8-9%. Also, in a major currency crisis such as a hyperinflation event, or just general devaluing your $100,000 will be worth a lot less.

If the global economy really crashes and all fiat currencies go up in flames something new will be introduced. It maybe the one world currency or it maybe a new currency for your region or country but your $100,000 in old currency will be worth probably $0. If you have that $100,000 in gold or silver it will still be worth that as anything new will certainly be backed by some gold (if not a pure gold standard but probably a basket of commodities will be involved). In a case where a new currency is backed by gold and silver your $100,000 will actually be worth a lot more.

OP has no clue what he is talking about. Gold and silver have always retained thier value (purchasing power) through out history. When the dollar collapses gold and silver WILL be the currency. In Zimbabwe people are digging and panning all day for a gram or two of gold just to eat...

reply to post by QuantumDisciple


I was joking in the sense that we ditch it for water or something. It was an exaggeration, in the unlikely chance that the sh*t hits the fan, and money was no longer of importance for survival.

But thank you for the explanation. You did fill me in on some things. I'm not all-knowing of this subject.

Given that you have some extensive understand of this subject, I'm curious as to what happens when people no longer have gold to back their currency? Can people use something else with similar properties, or does the global system require the same method of backing?

Originally posted by sbctinfantry

News Flash :George Soros, the hedge fund investor who called gold the ultimate bubble, has divested his portfolio of nearly its entire investment in the gold, inciting many to fear that the price will very soon plummet, devaluing the specie-heavy portfolios of millions of investors.

George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.
George Soros sells his gold
George Soros, the hedge fund investor who called gold "the ultimate bubble", has sold almost his entire holding of the precious metal, leading to fears that the price is about to fall.

*snip*

It is not known exactly when Mr Soros sold his gold, which was held via the Soros Fund Management investment vehicle. Filings to the Securities and Exchange Commission (SEC), the American regulator, showed that he had sold 99pc of his holding in SPDR Gold Trust, an exchange-traded fund (ETF) backed by gold bullion, by the end of March.

Source : www.telegraph.co.uk...

That's hardly a 'News Flash' - the story is 3 months old, and it's now at least 5 months since he cashed his holdings in. From then to now, the gold spot price measured in USD has risen from $1440 to $1850, so nearly 30%.

I bet he's absolutely kicking himself.

reply to post by sbctinfantry


One thing I advise clients with plenty of money looking to invest-I advise them to buy the one thing they dont make anymore!

Land!

Basically it is pretty simple

The gold/silver haters can keep their paper money and we will buy our precious metals. Apart from the fact that most of them dont even know the difference between physical gold/silver and ETFs pretty much says it all.

Gold has been money for 6000 years.

and who says you can't eat gold

bakingpleasures.com.au...#/

Enjoy!!!

A great gold bank such as Fort Knox would be wise to liquidate simultaniously with each buyer following purchasing or such as a scare tactic to lead to all enterprises in stockpiling and then releasing a freat amount onto market. I have no idea how this works but One thing I do know is that manufactuers of chains and gold products make way above any overhead.

reply to post by GmoS719


The money you hold in your hand is only paper, it is supported by gold which is kept tucked away by TPTB, but thats why your money has value because it represents gold to the banks.

www.investitor.net...

I would suggest those that agree with the OP watch this...


then come back and try to make your case

and for those talking about the gold/silver ratio...
The Case For The 1:1 Gold To Silver Ratio
______beforeitsnews/story/991/289/The_Case_For_The_1:1_Gold_To_Silver_Ratio.html

My gold and silver is staying in my hot little hand until it pays for my freehold land which will be under allodial title

Originally posted by ShadowZion
reply to post by GmoS719

 

The money you hold in your hand is only paper, it is supported by gold which is kept tucked away by TPTB, but thats why your money has value because it represents gold to the banks.

www.investitor.net...

The money you hold in your hand is not backed by gold. Hasn't been for a long time. Time to school yourself about the gold standard that ended in 1971. Money, or in the case of the US, an FRN (federal reserve note) has no intrinsic value. It only has value because everyone agrees it has value and thus can be swapped for goods. It is not backed by ANYTHING. By it's very nature fiat money is counterfeit, 100%.

reply to post by Mythkiller

That's a great video and well worth the one and a half hour. Big MM fan here.

Can't believe people make such stupid threads. I thought ATS was filled with enlightened minds but everyday I see multiple threads by brainwashed sheeple that have no clue about Finance and Geopolitics. People think because they understand there is a problem with the economy they know it all (and thus make threads about "evil monster" Gadaffi and celebrate his demise). The rabbit hole is a few inches deep for so many. Very sad.

Soros sold his gold, $800 Million worth in May at about $1500 / ounce.

If he held on to it for a few more months, he'd have made approx. 20% more.

This does nothing to quell the fears of people who believe that the entire precious metals market is saturated by paper gold - gold certificates that were created without any actual physical gold to back it up, which has driven down the price. If enough people take deliver on their gold, it would all be exposed and the price of gold would skyrocket.

Counter to what Soros is doing:

Venezuela's president Hugo Chavez has announced that he wants all of the country's holdings in gold to be physically transferred to his country. That's more than $12 billion worth of gold.

Source

The rising prices of commodities are reflecting the worthless value of US dollar. If not for manipulation, gold and silver prices should have been higher.

Inflation will resume as long as USA does not take the default medicine for its unsustainable debt,

Originally posted by SquirrelNutz
reply to post by gimme_some_truth

 

Yeah, either way my intent to is to sell one - get some ca$h (and, congrats on a past 'investment') - and break the other one.

Reasonable?

sell one what? One gold?

I don't know if it is reasonable or not because I am not sure what you just said.... Though I did just get off work ( Night shift) and am tired.... so....

I will just assume you are being reasonable