Author Topic: *****Stunning Gold Development with unknown implications if true*****  (Read 4568 times)

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Offline GDG's

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Offline pandamonium

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #1 on: January 24, 2012, 08:36:24 AM »
Looks like gold will take another step up in price.......

Offline Pandana

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #2 on: January 24, 2012, 11:04:57 AM »
Not sure what these will do the metal pricing, but definitely US greenback is no longer the currency for international trade.  Value of US greenback is losing ground big-time.

It's been on-going:  China has signed agreements with Japan, Russia, Pakistan, and other to trade directly in their currencies - dollars is no longer needed.

With these activities, wealth preservation is a must.  I am glad that all of us here are on the way, or in it to preserve what we have for ourselves, or for our children.

                                              WEALTH PRESERVATION MUST BE THE GOAL

tamo42

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #3 on: January 24, 2012, 11:12:47 AM »
While it is a sign that the dollar's hegemony is ending, this doesn't mean the dollar is over as the international currency. After all, it's a large part of what those other governments hold as reserves against their own currencies. If you are trading yuan, but the yuan is pegged to the dollar, you are still effectively trading dollars.

When the other central banks begin dumping dollars and treasuries on the market, then the dollar will be over as the world currency. And yes, I already know that some governments have started this.

Offline Pandana

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #4 on: January 24, 2012, 11:28:43 AM »

1. Banking system in the US is bankrupted, kaput. Without FED provided credit, banks in the US cannot, and does not have the capital to pay for all their poo-poo to date.
2. US has been exporting inflation. Foreign countries holding tremendous amount of US debts will at some points, buying up tangible assets - with the US dollars they have.
3. Other countries are taking measures to counter the "inflation exporting" by signing direct trade agreements to trade in their own currency or in gold: China, Japan, Pakistan and Russia, and other has done so. China has signed agreements with most middle east countries to trade oil in gold
4. FED is buying US debts; which is like one's wife is is letting the husband using the credit card
5. FED is guaranteeing Europe debts

Money supply is manipulated big time; 2 ways:
a. Physical printing - US Treasury.
b. FED manipulating credit line.

Offline PandaCollector

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #5 on: January 24, 2012, 11:43:37 AM »
At anywhere near current prices it seems doubtful to me that either India or China has enough gold reserves to buy oil from Iran for an extended period of time. In addition, I believe that most of India's gold is dispersed in the hands of private citizens, not the government, and so wouldn't be available for this trade. On top of that, what China has a surplus of is US debt, not gold. I am not surprised that this has been discussed, but it doesn't strike me as even close to practical.

Best wishes,
Peter Anthony
http://www.pandacollector.com

Offline exchange

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #6 on: January 24, 2012, 11:54:59 AM »
I saw that yesterday but coming from debka.com it should be taken with a grain of salt. debka.com has a habit of taking current events and twisting them in a way they see fit. Sometimes they guess right and sometimes they don't.

exchange

Dragons_Are_Silly

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #7 on: January 24, 2012, 12:38:18 PM »
Bwa !

"Stunning" indeed!  The gold market look stunned awright.

"unknown implications if true".

Bwa !  Wow... That silly

Who thinks this crap up?


Offline Pandana

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #8 on: January 24, 2012, 12:47:34 PM »
Quote from "Daily Pfennig"

EverBank World Markets
A Pfennig For Your Thoughts
Tuesday, January 24, 2012
 
.........But First, A Word From Our Sponsor..........
Announcing EverBank Wealth Management, Inc.

"....
 
Yesterday, I told you that India and Iran had signed currency swap agreements on
their trade of Oil to remove the use of U.S. dollars.  Well, then I saw a story
that said that India was going to pay Iran for their Oil in Gold.  Now, that's a
twist. and something I think the Indian Gov't will re-think going forward, that
is if it's true.
 
...
 
OK. I received quite a few notes from readers yesterday, telling me that part of
the Silver move on Friday (that I said Silver was playing catch-up with Gold)
came from the new Sprott Physical Silver Trust (PSLV) buying Silver future.
 
Ok. but I still believe that a lot of catch-up has to be made by Silver.  Silver
guru, Ted Butler, had this to say the other day, "Considering the technical
clean out we've just experienced in both gold and silver over the past few
months and the proximity of some key moving averages above current prices in
each that threaten to be penetrated, it is not hard to envision strong price
rallies. Of course, we are still discussing markets that are manipulated in
price, so we must be prepared for anything. The best preparation is not to
borrow or deploy margin."
...

Chuck Butler
President
EverBank World Markets
1-800-926-4922
1-314-647-3837

Offline badon

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #9 on: January 24, 2012, 01:18:52 PM »
It appears the West's stomping on the Middle East is backfiring full-circle.

1. The West invades several Middle Eastern countries under false pretenses.
2. Countries panic and (re)start nuclear programs.
3. North Korea tests a nuclear weapon, sinks South Korean warship, bombards South Korean island.
4. Japan gets nervous, and makes mistakes leading to multiple nuclear accidents.
5. The West's invasion of the Middle East causes Western economic peril.
6. Western civil unrest ensues, governments in jeopardy of losing power.
7. The West redirects public attention from economic hardship by threatening more Middle East invasions.
8. Countries panic and ally for expanded nuclear programs.
9. The West incites revolts in the Middle East.
10. Countries panic and ally militarily with conventional forces (Russia, Syria, Iran, India, etc).
11. American navy postures for war off the coast of Iran.
12. The West threatens Iran's economy.
13. Countries panic, military strategists begin planning to repel invasion by the West.
14. Countries panic, start moving away from the U.S. dollar.
15. (future) Western economy dives deeper into poverty.
16. (future) Western civil unrest increases
17. (future) Western mass-imprisonment of its people increases.
18. (future) The West presses for war to unite discontent people behind bad government.
19. (future) ?
20. (future) ?

Offline SANDAC

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #10 on: January 24, 2012, 01:30:41 PM »
IMO, it is a pretty good move for India and China to pay oil with gold.  The oil price in term of gold is pretty stable.  

China and India are accumulating gold.  There are not nearly enough gold at current price to pay for oil, but as oil-for-gold becomes accepted, the demand on gold will drive its price up much faster than oil price, so the oil price will fall relative to gold.  Countries with big hoard of gold will benefit with this, which presumably include the US.

Offline SANDAC

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #11 on: January 24, 2012, 01:40:05 PM »
Oops, wrong chart.  It looks like price of oil in gold is no more stable than dollar, but I still say gold is scarce in term of oil, whereas dollar is abundant, so paying oil with gold is a good idea for countries with big reserve of gold.

Underbidder

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #12 on: January 24, 2012, 04:16:31 PM »
.. so paying oil with gold is a good idea for countries with big reserve of gold.

So... how does getting rid of something getting scarcer and increasing in value, as opposed to bailing out first of something being printed without limit and getting worthless, make sense again?

Gordon Brown Economics?   

Offline badon

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #13 on: January 24, 2012, 05:04:38 PM »
I think SANDAC means it's good for the country receiving the gold, and maybe good for countries that don't have and don't want USD's to use for making purchases. Gresham's law is always in effect, and this case is an unusual situation where the currency is so undesirable that it becomes unacceptable.

Underbidder

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Re: *****Stunning Gold Development with unknown implications if true*****
« Reply #14 on: January 24, 2012, 05:41:43 PM »
Libya had oil, gold, and was looking to get away from the USD and into gold to settle oil sales.
How did that work out for them?  They were invaded by Europe and the US and their gold and oil were divvied up.

Having more gold, will not protect Iran. If anything, it dooms it all the more.
« Last Edit: January 24, 2012, 05:49:05 PM by Underbidder »