Thanks Grillge, I like charts.

Your welcome...

🙂

Gold bottomed out today at $1,557 per oz. Time to buy!

So given that gold and silver prices for what is sold and bought in Canada is measured against the American dollar prices, what good is gold and silver when the American dollar starts to devalue? Funny how I can never get the people at the bullion sellers to talk about that. I think a lot of folks have their head in the sand on that one flaw in buying gold and silver.

Plus these days the ETF prices will only continue to fall with the fake safe haven that represents, and force the price of physical down to dramatic levels. Good luck buying physical stuff these days. The mark up on spot is making precious metals look like a suckers bet.

Hi GreenEnergy, the one flaw you mention is the main reason I invest in it. Every currency in the world is measured against the American Dollar. when the dollar collapses the price of precious metals will be the least of our worries. Since gold and silver are recognized globally and the one form of currency that has lasted through the rise and fall of countless empires, I am more than happy to keep some on hand for a long term prep. I may not need it tomorrow but there will come a day.... As for ETF's: I wouldn't leave my beans or bullets in the bank so I sure as hell am not giving them my gold. We should hope the price keeps dropping so everyday people have a chance to buy into the "Currency of Kings". Thanks.

Lets hope you are right Glasshouse. I am not looking forward to the possiblity of having a lot of $4 an ounce paperweights. But if people buy a 1000 in silver and it ends up tied to the american dollar valuation, then it is really little different then buying American paper dollars or phony ETF precious metals. I am skeptical that it will stay down forever, but the bankers seem intent on driving it down much like they did during the Roosevelt era, so that the government can then ban the ownership of it and force people to sell it at drastically reduced levels before they move to confiscation and revaluing the metals that the level they really should be in comparision to fiat currency.

I would be happy to be wrong on that, but unless a world Gold standard happens in the next couple years, I suspect precious metals investments will turn out to be yet another form of Ponzi scheme. Historical use of precious metals as a shelter makes sense, but the current market crash in PM does not.

[quote="GreenEnergy" but the bankers seem intent on driving it down much like they did during the Roosevelt era, so that the government can then ban the ownership of it and force people to sell it at drastically reduced levels before they move to confiscation and revaluing the metals that the level they really should be in comparision to fiat currency.

I would be happy to be wrong on that, but unless a world Gold standard happens in the next couple years, I suspect precious metals investments will turn out to be yet another form of Ponzi scheme. Historical use of precious metals as a shelter makes sense, but the current market crash in PM does not.

Do you guys wonder If the price of Gold is driven down on purpose? - so the central banks can afford to buy more gold at an artificial low. The only reason I throw that out there - the central banks have been the net buyer of gold ..since when? 2010/2011'? The macro data look likes crap...I wonder If the central banks know the fiat currency is coming to an end near you 😆 ! I think we are going to see more ETF E & E (escape/evasion) in the future.... 😮

Hippie, I think of that all the time. Central banks are prepping too...

Do you guys wonder If the price of Gold is driven down on purpose? - so the central banks can afford to buy more gold at an artificial low. The only reason I throw that out there - the central banks have been the net buyer of gold ..since when? 2010/2011'? The macro data look likes crap...I wonder If the central banks know the fiat currency is coming to an end near you 😆 ! I think we are going to see more ETF E & E (escape/evasion) in the future.... 😮

Sorry I wrote a long detailed reply to this and the system ate it ...........

So in short I will say "yes" the Central Banks benefit mainly long-term, because they are hedging their bets. The ETF management agencies like HSBC and JP Morgan benefit in the here and now because they can manipulate and make profit on small margins, unlike Joe and Jane Average who have to pay spot prices to dealers. The bankers and fund managers feed off each other like symbiotic parasites.

Plan B If the system collapses and we go to a gold standard, then they have the gold they bought now for cheap to use for value in the future.
Plan A if the system does not collapse then the gold price can be manipulated to allow the Central banks to sell the gold, or make money off being the holders of the gold for lease or as physical insurance on said credit loans.

Over the years I have found it is a rare banker that does anything with just one plan goal in mind.

Ah GeenEnergy I guess then you are really calling them “scheming, manipulative symbiotic parasites”. 😆

Gold has plummeted to $1278 per oz USD. And the Dow is down 358 points. Time to hunker down.

Ah GeenEnergy I guess then you are really calling them “scheming, manipulative symbiotic parasites”. 😆

You nailed it!!

What's the perceived time horizon of the banking system going into cardiac arrest or systemic failure?

Interesting events are happening... http://www.kitco.com/ind/Weiner/2013-06-10-Why-is-Gold-Draining-out-of-COMEX-Warehouses.html

I have some gold and silver but if the shit really hits the fan you will be able to trade more if you have alot bic lighters and ammo.paper money will make nice tp and gold and silver would make good sinkers for fishing i guess.