The opposite of the so called ''goldbugs'' are the big players that are shorting gold.-In the last few days they are the ones that have been overexposed--They got Fleeeeeced..!!
The opposite of the so called ''goldbugs'' are the big players that are shorting gold.-In the last few days they are the ones that have been overexposed--They got Fleeeeeced..!!
Not sure how to link to bloomberg but there was a video from a guy (admittedly selling his gold fund) looking at gold as a financial asset and if i understand him correctly the value of gold has been about 40% of the money supply but has not increased with the expansion of the money supply. I think he was saying that if gold was to reach 40% of the money supply again it would need to be about $4,500 an oz. Is gold money? why do central banks still hold gold if it isn't.
I agree it is purely speculative because if gold isn't money then it probably isn't that valuable even if it is rare(you can make pretty jewellery from lots of things). I also think paper money could quickly lose value as well if people stop believing in it and they keep making more. Zimbabwe is a good example of what happens when you have too much printing. I bet they would trade a couple of million dollars(zimbabwe) for an oz of gold. $US might get there one day.
Not sure how to link to bloomberg but there was a video from a guy (admittedly selling his gold fund) looking at gold as a financial asset and if i understand him correctly the value of gold has been about 40% of the money supply but has not increased with the expansion of the money supply. I think he was saying that if gold was to reach 40% of the money supply again it would need to be about $4,500 an oz. Is gold money? why do central banks still hold gold if it isn't.
I agree it is purely speculative because if gold isn't money then it probably isn't that valuable even if it is rare(you can make pretty jewellery from lots of things). I also think paper money could quickly lose value as well if people stop believing in it and they keep making more. Zimbabwe is a good example of what happens when you have too much printing. I bet they would trade a couple of million dollars(zimbabwe) for an oz of gold. $US might get there one day.
I bought a 1 billion or was it a 1 trillion Zimbabwian note for $12
"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
I didn't see anywhere that it said $80 trillion in debt JB?
It said 16 trillion = $50,000 per person = less than 100% of GDP? I don't see the problem? Japan is over 200%.
Apparently, the USD has around 80 trillion in net assets. I don't think we have anything to worry about JB.
With manufacturing going back to the US, the competitive advantage of cheap energy, and the status of world reserve currency...the USA are fine!
Is manufacturing really heading back to the US? What about the great leap backwards to a more average hourly pay for everyone? In this global world, a welder in India is paid $25 for a week's work. They are getting the big jobs.
Reply With Quote
Originally Posted by skid
Bookmarks