Just A Theory About Gold.....

this story is strangely familiar!
back in the 80's (when gold was $200.Oz!) my dad purchased about 5 Oz. of gold.
they gave him the paperwork stating ownership,and away he went.
about a year later,he decided that he wanted his physical gold to hold in his own safe,so off to the bank he went.
well they pretty much gave him the exact same run around as you got.
well my dad being the way he is (stubborn,pigheaded,easily provoked,.....)
he demanded his gold,or he would call the police!.
so the bank set up a meeting with him and the regional manager for the next day.
my dad showed up with his stock broker and his lawyer!
the bank gave in and explained that they would have to 'locate' the amount of gold he owned,and make arrangements to deliver.
well it took over a month,but the bank did come through!
we dont know where the bank 'located' the metal,my dad didn't really care where it came from,but he did have to go thru fot knox type 'security' when he got there!
he had to have all his paperwork in order,and sign waivers saying the bank was not liable for any thing as soon as he took physical posession of the gold.
my dad knows how to play the game,so,in the end he left with his physical gold!

i'm not sure if he still posseses the gold,but if he does,his $1000 investment is worth about $10,000 today!
good luck,and play by their rules! they hate it when you win by their rules!

reply to post by muzzleflash

Sell that junk paper security now because it isn't you who its securing!

This is very true and before i signed the sale i was told about the consequences that could occur from this sale. I was told the same when i tried to secure my pension in stalks. The bank will not guarantee anything above 2,000,000 but to have the 2.000.000 security benefit i have to pay for it with a monthly sum. So what i basically agreed to is that everything above 2,000,000 might be lost.

Banks are just a trading institution. That can trade values on behalf of other institutions.

Originally posted by spy66

Originally posted by Todzer
reply to post by spy66

 

So after they told you that where does it leave you? Can you not get it at all?

No, i cant get my gold because its no how the trade is conducted. I have only bought a value of gold that i can use to trade in other commodities or money. I don't really own the gold physically, I only own the value of the amount of gold i bought at the time i purchased the gold.

When people buy gold to day. They don't really buy the gold in it self physically. They buy the value of gold at the time of purchase. You can trade your value of gold at a different value if the market of gold changes.

edit on 27.06.08 by spy66 because: (no reason given)

Places like monex sell real physical gold in the form of small bars, etc. Online even. However......delivery is a little...funny. lol. Of course itll be worth more when they sell it to you then whem you sell it tp them

The Gold need for our ransom.

And we deliver it with this...
www.space.com...

To the Anunnaki

...My theory

reply to post by Arken


They would get more Gold in the new Orion command module if they have not canceled them yet. LoL

reply to post by Todzer


Exactly its all fantasy monopoly notes.

So really the trick is to anticipate which ones will go under first, or which ones present the most risk.

Sure high risk equals high rewards but the odds are agianst us.
Much better to stick with low risk investment that offer annual meager returns, having economic stability in your portfolio trumps having a party at Vegas with nothing to show for it.

AFAIK, national banks stopped backing their printed currency in gold by mid-twenty century, it's supposed to be backed now by a combination of such banks reserves as well as some formulae involving national income, debts etc.

Someone around here surely knows more about this matter than me, but I'm pretty sure you can't go to the bank and ask for your gold just like that.

I believe most countries measure such wealth against US dollars, but it seems like that practice might be under doubt going forward, that will cause immense financial chaos -and profit for some guys with inside info- that might prove to be the last kick of our insufferable political-economical alliance which, if you ask me, has gone way beyond the craziness of the political-religious alliance of yore.

But I digress…

Regards

Walter

reply to post by wmegoth


There are a year or two during the transition in I think about nineteen twenty eight where the government will give a person a credit of taxes you owe on the gold certificate based on the year of it's inception.

Say you have a 1928 fifty dollar gold certificate. The government recognizes it is worth fifty dollars worth of gold at the time at 4 dollars an ounce. That means it is worth twelve and a half ounces of gold so the credit towards federal taxes owed at say 1700 an ounce which is about twelve grand presently. This is only for gold certificates from one or two years, this does not apply to earlier ones and there are no later ones. I read a couple of articles about this a while back. I do not know if it applies to state taxes or not. It is only good applied to debts we owe the government. The articles I read seemed official but I am not sure if these laws have been overwritten or not.

Originally posted by muzzleflash
I have an opposite hypothesis.

I believe there is most likely an over abundance of gold and that it is currently significantly OVERvalued.

As a result, I infer that whoever is left with all of the gold in their hands when the music stops will have no where to sit. And they stand to lose massive % of their investment when the inflated commodity crashes.

So my understanding of market economics is obviously diametrically opposed to the assumptions in the mainstream. Which by the way are promoted by big business, so ask yourself, ' why are all these nice companies giving me a good deal on gold ? '

Reality is they aren't giving you a good deal. They are a corporation and are profiting off the transactions. Hell it could be highway robbery but we won't know till gold prices crash.

Everything that goes up, must come down, after all.

I'm more with you on this one except for one aspect that over the long term, gold prices rise. It's the short term drops that kill off most investors (1975, 1980, 1983, 1987, 2014...). Like the share market, it's the long term view that always wins. Those ordinary people that invested in the last 7 years and haven't got out yet need to before they lose all their gains.

Originally posted by muzzleflash
From my point of view investing in gold right now is silly. At these exurbant prices you stand to make little to no net gain. In fact the risk of a crash is so strong that it would be absolutely foolhardy.

However if you have gold on hand, now is the time to sell it considering these are the highest prices ever.
Buy low, Sell high

I feel better today, thank you!

I had to sell off a gram of gold at the local assayer/exchange yesterday to get through till payday.

I was trying to put like $100 each paycheck into phyical assets a while back, and while I haven't lost money -- I haven't earned any.

reply to post by Todzer


It is a myth that the Fed holds the gold. There isn't any in the Federal Reserve bank OR at Fort Knox, hasn't been for decades. Just an FYI.

reply to post by Todzer


exactly, they're creating gold out of thin air.

you can bet that the total amount of value these papers represent far exceed the physical amount of gold in existence.

the whole scheme looks like a game of hot potato, it only works as long as that piece of paper is bought and sold.

if it was actual gold, most people would just keep it in a safe.

reply to post by muzzleflash


Thats what I was thinking as well, Tons and tons of it in storage, god knows how much is being worn by people and sitting in their jewelery boxes. not to mention its in all the computers and cell phones too, It doesnt seem to be very rare at all.

reply to post by JHumm


Gold isnt worth the tungston its wraped around....

Sell high, break the market, then buy low?

It does seem like some people are getting rich off worthless paper.
How can it be legal for some company to issue paper stating you own some amount of gold or the value of said gold and not be required to pony up if asked.

The world is getting crazier and crazier. Greed is certainly rampant as well.