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"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Gold up $25 this morning to $870 . . .
Attachment 1110
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Originally Posted by JBmurc
Yep for sure shasta my pick is Silver will overperform gold by quite a margin with gold making like AuSSie has shown futher highs
My future predictions
09-GOLD high 1400-1500 end 09 1200-1300
09-SILVER high 32-34 end 09 28-30
Longer term Silver should get back to at least a 20:1 ratio
so 2012 say GOLD -2000 Silver 100oz
I hope your right, i'm not quite so bullish though.
I'm thinking Silver $20 - 25 & Gold $1000 - 1250 (A ratio of 50:1) at the end of 2009 with plenty of volatility in Silver, & less so in Gold which will have a slow & steady increase as the US Fed stops printing money!
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I see they believe no theirs some 7 times more Gold above ground than silver atm
also the fact with alot of the base metal miners slowing down and shutting up shop 09 will yet again be a year where silver scrap makes up alot of the supply (how much longer will scrap make up the ton's of demand ??)
What if They Returned to the Gold Standard?
(They can't, but we can.)
Silver Stock Report
by Jason Hommel, December 10th, 2008
What if the Government went back on a Gold Standard?
Do do that, they would need to use their gold to pay off all their debt.
That would give a price of gold if the U.S. Government backed the dollar with gold.
We only need to know two numbers, and do a simple problem of division.
First number: The national debt.
http://www.treasurydirect.gov/NP/BPD...application=np
The government tells us this is:
$10,656,119,227,403
That's 10.6 trillion dollars.
Second number: The U.S. Gold stock.
http://www.fms.treas.gov/gold/current.html
The government tells us this is:
261,498,899 ounces of gold
That's 261 million ounces of gold.
So $10,656,119,227,403 divided by 261,498,899 = $40,750/oz. of gold.
In theory, if the U.S. government had the restraint to stop issuing any kind of new debt, and if there was a runaway hyperinflation, the government could credibly stop any sort of runaway gold price by offering gold at a price of $40,750/oz.
That's the price that could cap the gold market if the U.S. government sold all their gold to all their bond holders. At that point, all new taxes would have to be levied in gold, not dollars.
It's important to realize that any effort by the government to sell gold below that price will ultimately fail, and will eventually cause the gold price to go even higher than that price, as that would only deplete their limited stock of gold at inappropriate price levels.
The main point is that T-Bills, which are perceived as the safest haven around, are not safe. They are only backed up by gold at a rate of $40,750 per oz. With gold trading today at around $800/oz., the U.S. gold backs less than 2% of the value of the issued bonds, or stated another way, $800 is 2% of the price of $40,750. Gold, at today's prices, is clearly a far superior safe haven.
And silver, which is in short supply, due to relentless industrial demand that has consumed nearly all world silver supplies, is even safer.
Clearly, the government cannot offer gold at $40,750 per oz. today. There would be no buyers. But, over time, the gold price may rise to such levels, and beyond, as a generation of people slowly wake up to the monetary fraud of the last 29 to 95 years, depending on whether you count from 1980 or 1913.
I am not an advocate of a return to a gold standard, where gold backs up paper money. I'm in favor of a return to using silver and gold coins and bars as money, as measured by weight, and traded at their intrinsic value according to the price in an open and free market place.
Sincerely,
Jason Hommel
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Originally Posted by shasta
Hmm, i think Silver will outperfom Gold over the next 12 months too
Platinum !
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Originally Posted by Hoop
Platinum !
Yeah platinum has also been well oversold I think holding any PGM's will pay off in the new year -
I do remember watching a guy on CNBC taking down Platinum on the back of the US auto-industry pain also not too sure if there's to much if any short-selling on Platinum unlike Silver which has a very large short-sold postion by only a couple US Gov backed interests
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
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Well . . . it's official!
2000 -- $273.60
2001 -- $279.00
2002 -- $348.20
2003 -- $416.10
2004 -- $438.40
2005 -- $518.90
2006 -- $638.00
2007 -- $838.00
2008 -- $882.80
GOLD
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Commodities had a short brief rally. Will it last?
Commodities dropped back down over night in new york.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
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Might be time to re name this thread Liz
They seem to be back in with the in crowd
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