Reason #1 to Keep Buying That Gold

Discussion of the Gold portion of the Permanent Portfolio

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frugal
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Re: Reason #1 to Keep Buying That Gold

Post by frugal » Wed Jul 10, 2013 7:04 pm

MediumTex wrote:
frugal wrote: Someone told me that the price of gold is made by UK and US.

The GOLD is moving from Ocident to ORIENT ( China, India ...)

So in the future when the interest in the gold finish, because UK and US have no more gold, the PRICE will go to near ZERO.

The real price will fall a lot at least, because they will no longer have high prices for Gold because it is on other hands...

Please explain how this works.
That just sounds like one more dumb theory with little basis in reality and zero predictive value.
but the price is not made by traders?

is it fixed by governaments?

Can you please explain why it is dumb?
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Re: Reason #1 to Keep Buying That Gold

Post by MediumTex » Wed Jul 10, 2013 7:09 pm

frugal wrote:
MediumTex wrote:
frugal wrote: Someone told me that the price of gold is made by UK and US.

The GOLD is moving from Ocident to ORIENT ( China, India ...)

So in the future when the interest in the gold finish, because UK and US have no more gold, the PRICE will go to near ZERO.

The real price will fall a lot at least, because they will no longer have high prices for Gold because it is on other hands...

Please explain how this works.
That just sounds like one more dumb theory with little basis in reality and zero predictive value.
but the price is not made by traders?
Is the price of meat made by the grocery store?
is it fixed by governments?
It probably could be for a while if governments wanted to sell all of their gold, but since they apparently don't want to do that, I would say that governments don't have much long term impact on the price of gold.
Can you please explain why it is dumb?
Because it isn't coherent and offers no real logic behind its claimed predictive abilities.
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Re: Reason #1 to Keep Buying That Gold

Post by notsheigetz » Thu Jul 11, 2013 5:45 pm

If a return to the gold standard is completely outside the realm of possibility, how do you explain these actions undertaken by the U.S.  empire  government?

http://www.nytimes.com/2013/07/02/world ... .html?_r=0
Last edited by notsheigetz on Thu Jul 11, 2013 8:32 pm, edited 1 time in total.
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Desert
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Re: Reason #1 to Keep Buying That Gold

Post by Desert » Thu Jul 11, 2013 7:07 pm

notsheigetz wrote: If a return to the gold standard is completely outside the realm of possibility, how do you explain these actions undertaken by the empire U.S. government?

http://www.nytimes.com/2013/07/02/world ... .html?_r=0
The U.S. government is trying to prevent Iranians from losing their retirement savings by buying a barbarous relic at inflated prices. 
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Re: Reason #1 to Keep Buying That Gold

Post by notsheigetz » Thu Jul 11, 2013 8:35 pm

Desert wrote:
notsheigetz wrote: If a return to the gold standard is completely outside the realm of possibility, how do you explain these actions undertaken by the empire U.S. government?

http://www.nytimes.com/2013/07/02/world ... .html?_r=0
The U.S. government is trying to prevent Iranians from losing their retirement savings by buying a barbarous relic at inflated prices.
Good explanation. The empire not only looks out for the interest of Americans, but of all people's everywhere.
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