Goldprice all times high 1655 EUR Oz !!

[JohnnyDoe]

Well you are confusing 2 different scenarios here. You are talking about precious metals and their performance in a working financial system and trust in government. If we have margin calls due to lack of liquidity, metals (mainly paper claims on it) will be sold off. Nothing will soften your $ denominated portfolio blow other than future short hedges in stocks, commodities, precious metals and VIX, USD & JPY longs.

I was taking about the insurance aspect of physical precious metals (yes mainly gold) as an anchor for a new financial system. This is a completely different set up compared to margin calls and a liquidity crisis.

A “new financial system” based on a shiny yellow metal? Wow that’s an original plan!

 

[FlipnShip]

A “new financial system” based on a shiny yellow metal? Wow that’s an original plan!

Exactly, it is a possibility. If you scroll up, I stated you should also hold crypto for the same reason. A diversified portfolio is key to be covered for different outcomes, not a single one that you wish for. Dogmatic philosophy towards one asset has the potential of wrecking someone`s savings.

 

[Golden Fleece]

A “new financial system” based on a shiny yellow metal? Wow that’s an original plan!

All the financial systems before the present one were based on gold (and, to a lesser degree, silver). So, if the current financial system collapses and the world population's faith in the financial system must be restored, what do you think is the most likely outcome? Not 100% guaranteed, of course, but highly likely. The fact that central bank's all over the world continue to hoard, and buy, gold makes this rather obvious. The level of ignorance and the lack of critical thinking on this thread is simply astounding.

I do not own much gold myself, so I have no dog in this fight. But this stuff is rather obvious. I own one of the few things better than gold: income-producing farmland. Farmland, unlike gold, is diminishing rapidly and it also earns an income. And food prices are very sensitive to inflation. But most people cannot own a farm. So, gold is the next best thing -- as insurance against geopolitical and financial instability and inflation. And unlike a farm, it is easily transported.

 

[JackAlabama]

All the financial systems before the present one were based on gold (and, to a lesser degree, silver). So, if the current financial system collapses and the world population's faith in the financial system must be restored, what do you think is the most likely outcome? Not 100% guaranteed, of course, but highly likely. The fact that central bank's all over the world continue to hoard, and buy, gold makes this rather obvious. The level of ignorance and the lack of critical thinking on this thread is simply astounding.

Will be difficult to restore trust as how can reserves be proven? The numbers even if compiled by hyperaudit X2 company will be highly doubted. That goes for all 3 superpowers.

 

[369]

Time will tell. In 4 years we will check again this thread and see how your short position on bitcoin (if you have the guts to put your money where your mouth is) is performing and how much money you are making on gold.
But the simple fact that nobody knows where gold will be in 4 years already rebuts your claim that gold is an insurance.

i can tell you what is going to happen
Firstly bitcoin will go down massivly for any reason war/crash/cyberattack etc .
Once at the bottom CBDC's will be implemented with deep negative rates with the explanation to support the econemy and maybe because banks will have trouble because of cyberattacks who knows what reason they will give.
Once this happen people will flee in any asset with their fiat.
Bitcoin is going to skyrocket
Silver is going to outperform gold
gold will raise but will be the loser compared to the other.
Once people invested all their savings in RE,Stocks etc the milking will begin.
All these assets which profis bought at cheap price are now going to be dumped to the masses causing a so called bear cycle.
And at arround 4 years when the first monetary system change (CBDC's) will be announced as failure and all wealth sucked out they will setup silently a new second monetary system based on gold.
It will happen over a weekend so nobody can jump quickly in who doesn't belong to the club or isnt already invested in the worst performing asset.
And now my question to you do you understand the meaning that gold will be reimplemented back to the monetary system ?
Do you understand what it exectly means for gold and based on what its value will be dertimined ?

I guess no else people would be not posting such nonsense here .

Also Gold is since 2012 officaly TIER1 money and not a Hedge like before.

I own one of the few things better than gold: income-producing farmland. Farmland, unlike gold, is diminishing rapidly and it also earns an income. And food prices are very sensitive to inflation

Sorry thats also nonsense.Why ?Because you clearly don't know their agenda.Farmlands are so good ?
How come farmers are currently massivly getting bankrupt ?
You think in 2030 food will be still grown mainly on farmland ? ZONK
Food will be directly produced in big cities without farmland.ANY KIND OF FOOD.They can harvest 15 times more and need up to 25 times less water.
Now the second control point water.Water will be expensiv thats why they focus so much getting ever water source under their control.
Next issue seeds etc etc etc

You really think you will be able to compete against them ?

You know in their agenda they plan MEGA Cities and 95% of area getting back to wildness.

So i would think twice if farmland is a great investment in the space of income if its not for own use at least in "western countries"

Will be difficult to restore trust as how can reserves be proven? The numbers even if compiled by hyperaudit X2 company will be highly doubted. That goes for all 3 superpowers.

Its already done deal for over a decade.
In 2012 US had to accept a new tri polar monetary system instead their desired uni polar monetary system because they lost the economic battle against BRICS.
People even have no clue how close USD was to get imploded by BRICS.The monetary fight between US and Japan were just insane.

But hey keep beliving Fukushima was an accident and not a warning making the president to resign.

 

[Golden Fleece]

Will be difficult to restore trust as how can reserves be proven? The numbers even if compiled by hyperaudit X2 company will be highly doubted. That goes for all 3 superpowers.

They will do whatever is necessary to restore public trust in the financial system and to restore public order. They will have no choice. Do you think that the world elites will voluntarily go back to any type of gold standard? They will do so kicking-and-screaming -- and they will do so only because they have no other choice.

It does not need to be a 100% gold-backed system. It could be 50% or some other proportion that allows faith in the new system. The sudden, total collapse of trust is what destroys a monetary system. It can happen quite quickly.

Thursday, November 29, 2001 felt like any other day in Argentina. People woke up, went to work, and lived their lives. There was nothing really unusual about that day, everything seemed fine.

Sure, Argentina’s economy had been in a severe recession for three years, so life was difficult. But it was still normal.

By the end of the day, however, a major bank run had started in the country, and life changed forever.

For years, up to that point, Argentina had pegged its currency at a 1:1 rate to the US dollar; this meant that anyone holding local currency could freely convert their Argentine pesos to US dollars.

The government’s goal behind this scheme was to reign in inflation and demonstrate that their currency was strong. And it worked for a few years.

But eventually the convertibility became unsustainable. As more and more businesses and individuals converted their pesos into dollars, the government started running out of dollars.

So they went into debt.

Argentina’s government borrowed a mountain of US dollars from foreign investors, solely to maintain this artificial exchange rate. Nearly every dollar they borrowed was almost immediately exchanged for pesos, forcing the government to borrow even more dollars.

By November 2001 the situation reached its crisis moment; large depositors became spooked that the heavily indebted government was about to break the unsustainable exchange rate and devalue the peso. So they started withdrawing their money and converting into dollars.

Panic quickly set in. The next day, Friday November 30th, everyone in the country was rushing to get their money out and convert to dollars.

Then it happened: the next morning, on Saturday December 1st, the government announced that they were freezing every bank account in the country in order to stop the panic.

Needless to say the bank freeze had the opposite effect. People went out into the streets to riot like never before. Workers went on strike. Looting and crime rates soared. Grocery store shelves emptied out.

The government quickly deployed federal forces to quell violence and restore order, but the ‘mostly peaceful’ protests continued.

By December 20th the situation was so untenable that the President resigned from office and was forced to escape the capital by helicopter.

The new President almost immediately defaulted on Argentina’s $132 billion national debt, and then devalued peso.

The whole episode took less than five weeks-- from November 29, when everything still felt ‘normal’, to early January 2002 when they had blood in the streets, looting, empty grocery shelves, frozen bank accounts, debt default, and a currency crisis.

 

[backpacker]

The fact that central bank's all over the world continue to hoard, and buy, gold makes this rather obvious.

There are currently only two central banks which are known to be holding (i.e. hoarding) a significant part of their reserves in gold: Kazakhstan and Kyrgyzstan!

Relevant central banks are not hoarding gold. Their gold reserves are minimal.
https://www.gold.org/goldhub/data/monthly-central-bank-statistics

 

[Golden Fleece]

There are currently only two central banks which are known to be holding (i.e. hoarding) a significant part of their reserves in gold: Kazakhstan and Kyrgyzstan!

Relevant central banks are not hoarding gold. Their gold reserves are minimal.
https://www.gold.org/goldhub/data/monthly-central-bank-statistics

I do not know what you mean by "a significant part of their reserves in gold" as the word "significant" can have many meanings, but Russia, China, India, Turkey, Hungary, Thailand, and many other countries have been big buyers in recent years. They are trying to build proportional gold holdings comparable to the Western nations, which have long held large gold holdings. These gold reserves are not minimal. And if gold was truly a useless artifact, why would central banks buy it at all? These poorer nations are trying to catch up with the Western nations in terms of their proportional gold holdings. They want a seat at the table when the great reset hits.

 

[backpacker]

I do not know what you mean by "a significant part of their reserves in gold" as the word "significant" can have many meanings, but Russia, China, India, Turkey, Hungary, Thailand, and many other countries have been big buyers in recent years. They are trying to build proportional gold holdings comparable to the Western nations, which have long held large gold holdings. These gold reserves are not minimal. And if gold was truly a useless artifact, why would central banks buy it at all? These poorer nations are trying to catch up with the Western nations in terms of their proportional gold holdings. They want a seat at the table when the great reset hits.

Significant means > 25%.
Less than 1/4 of overall reserves in gold has no impact: Neither will a central bank regain the trust of its population nor will such a low allocation towards golds make any difference in case of a worldwide crisis.
Most of the countries that invest meaningful amounts in proportion to their reserves into gold are politically motivated. Similar to Iraq, Libya or Venezuela back in the days. Well, we all know how that ended.

I agree that the system is doomed. There will be a great reset. But nobody of us can envisage what and how this will happen. It is also possible that a can of tuna will be worth more than a bar of gold. Think Mad Max.
So, if one bets today on the great reset of tomorrow by investing into gold it is a speculation that might work or might not work.

 

[JackAlabama]

They will do whatever is necessary to restore public trust in the financial system and to restore public order. They will have no choice. Do you think that the world elites will voluntarily go back to any type of gold standard? They will do so kicking-and-screaming -- and they will do so only because they have no other choice.

It does not need to be a 100% gold-backed system. It could be 50% or some other proportion that allows faith in the new system. The sudden, total collapse of trust is what destroys a monetary system. It can happen quite quickly.

Nah, there is a lot of other choices. Again to bring the unanswered point, how do you audit the gold? Just send KPMG and tell the world you have x tons of it?

 

[Golden Fleece]

Nah, there is a lot of other choices.

Like what? Anyone who knows anything about this topic knows that Special Drawing Rights (SDRs) and gold are the only realistic options. There is no other fiat currency that can currently replace the USD if it collapses.

And if all major fiat currencies collapse at the same time, even SDRs are highly problematic. That would leave only . . . gold. Not talking a Mad Max scenario here. Just a loss of faith in the USD. That is all it takes. One spark. The last straw placed on the camel's back.

 

[JackAlabama]

Like what? Anyone who knows anything about this topic knows that Special Drawing Rights (SDRs) and gold are the only realistic options. There is no other fiat currency that can currently replace the USD if it collapses.

And if all major fiat currencies collapse at the same time, even SDRs are highly problematic. That would leave only . . . gold. Not talking a Mad Max scenario here. Just a loss of faith in the USD. That is all it takes. One spark. The last straw placed on the camel's back.

I have a 1000000 tons of gold, it is audited by KPMG, how much do you have?

 

[Golden Fleece]

I have a 1000000 tons of gold, it is audited by KPMG, how much do you have?

Again, like what? If not gold, then what?

 

[FlipnShip]

If we work under the assumption that the vast majority here has more in terms of their beliefs than with 99 % of the population, it is astounding how easily certain opions lead to division. I understand a little bit of drama always spices things up and what would life be without it?

Assets that might be of use on physical plane over the next 10 years:
- Hide out spot in the jungle with a pond next to it
- Bear Grylls´s survival camp package
- Digital fairy dust
- Shiny rock collection
- Part ownership in companies that spy on and/or sell goods/ services at an exorbitant mark up to it*s customers
- Collector of rare hunting equipment
- Entry papers that grant you access to multiple banana republics
- Being around a group of people that do not jump through hoops ratting you out to a 3 letter agency
- Owning an assortment of delicious tuna cans (or any other source of protein)
- Being well versed in the ancient art of brewing your own moonshine

(Disclaimer: the above list is not in a particular order of importance and depends on the beliefs of each individual person)

 

[369]

They will do whatever is necessary to restore public trust in the financial system and to restore public order. They will have no choice. Do you think that the world elites will voluntarily go back to any type of gold standard? They will do so kicking-and-screaming -- and they will do so only because they have no other choice.

It does not need to be a 100% gold-backed system. It could be 50% or some other proportion that allows faith in the new system. The sudden, total collapse of trust is what destroys a monetary system. It can happen quite quickly.

They initated the change.Its the elites desire however keep in mind that a goldban would not allow physical gold in private hand.
Also your second statement is correct that the new money won't be backed 100% but only linked to gold.
Think a bit further what it means for gold if you can create lets say $1000 by having $100 worth of gold

Your third assumption that it can be only SDR's is also fully correct.People claiming it can be something diffrent have no clue what they are talking about.
SDR's will be the world currency named in every country diffrently and will be divided between countries based on their gold holdings .I hope now you have your answer why central banks are hording and buying gold expecially in south east asia.

About China.
Before 2012 US didn't wanted to allow other currencies to get world reserve currencies in the new monetary system and tried to force to implement an unipolar monetary system.
They lost the battle and BRICS support to make CNY also a world reserve currency on a tri polar monetary system.

To make CNY a world reserve currency it means they need to produce a lot of CNY money and can only produce when having enough gold.Thats why they indirectly forced US to give gold for not imploding the USD and even told their citizens to buy as much gold as they can

If we work under the assumption that the vast majority here has more in terms of their beliefs than with 99 % of the population, it is astounding how easily certain opions lead to division. I understand a little bit of drama always spices things up and what would life be without it?

Assets that might be of use on physical plane over the next 10 years:
- Hide out spot in the jungle with a pond next to it
- Bear Grylls´s survival camp package
- Digital fairy dust
- Shiny rock collection
- Part ownership in companies that spy on and/or sell goods/ services at an exorbitant mark up to it*s customers
- Collector of rare hunting equipment
- Entry papers that grant you access to multiple banana republics
- Being around a group of people that do not jump through hoops ratting you out to a 3 letter agency
- Owning an assortment of delicious tuna cans (or any other source of protein)
- Being well versed in the ancient art of brewing your own moonshine

(Disclaimer: the above list is not in a particular order of importance and depends on the beliefs of each individual person)

Surviver BS to make money.
The world is not ending.Its a change into a world wide centralized police state.Nothing more and nothing less.

 

[uplana]

I just took a check on the gold price. It's up to 1655 euros, per Oz, it's the highest I've seen.

now it is up 1675 just thought I wanted to mention it.

 

[lory]

now it is up 1675 just thought I wanted to mention it.

it's still climbing up the ladder to new heights. I don't regret to have a few kilos on stock.

 

[uplana]

Yeah 1745 EURO / Oz

 

[clemens]

You have completly no understanding about gold and its future role.
Bitcoin is a trojan which is going to ZERO when gold will shine.......
Mark my words

I totally agree with you.

 

[JamesDonkey]