Gold reclaims its currency status as the global system unravels

Gold reclaims its currency status as the global system unravels (Full Version)

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Brain -> Gold reclaims its currency status as the global system unravels (6/22/2010 1:27:12 AM)
Tracking for inflation, it's still far below the peak in the 80's. Keep buying gold gun-toting nutjobs - when the economy tanks you can buy potatoes and bushels of wheat for two gold bars each. Gold reclaims its currency status as the global system unravels And are we any safer now that the EU has failed to restore full confidence with its €750bn (£505bn) "shock and awe" shield, that is to say after throwing everything it can credibly muster under the political constraints of monetary union? This is the deep angst that lies behind last week's surge in gold to an all-time high of $1,258 an ounce. The World Gold Council said on Friday that the central banks of Russia, the Philippines, Kazakhstan and Venezuela have been buying gold, and Saudi Arabia’s monetary authority has "restated" its reserves upwards from 143m to 323m tonnes. If there is any theme to the bullion rush, it is fear that the global currency system is unravelling. Or, put another way, gold itself is reclaiming its historic role as the ultimate safe haven and benchmark currency http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/7841961/Gold-reclaims-its-currency-status-as-the-global-system-unravels.html Last week gold surged to an all-time high of $1,258 an ounce Photo: Alamy [image]local://upfiles/392475/3336A3669EFD4D67AA06BD4EC2E59D5B.jpg[/image]

DCWoody -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 4:31:47 AM)
The world gold council says to buy more gold, as do people who own a lot of gold. You people are more annoying that those for-centuries-pointless bits of wood sticking up under doors designed to toe your stubs.

calamitysandra -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 4:54:05 AM)
Oh damnit Brain! What were you thinking posting this story? Pahunk is going to have a coronary (well, or an orgasm [;)] ).

thishereboi -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 6:33:11 AM)
quote: ORIGINAL: DCWoody The world gold council says to buy more gold, as do people who own a lot of gold. You people are more annoying that those for-centuries-pointless bits of wood sticking up under doors designed to toe your stubs. Define "You people"

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 7:03:27 AM)
We are up on options exp.. This means the price should drop abit. I have to ease up. I never have quite enough for gold- so- I hope to in the next few weeks. I did junk my old truck and scored some really nice numismatic silver. Yay. BTW- that stack is worth only 3 million $.

rulemylife -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 7:06:32 AM)
Hoard aluminum.

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 7:16:44 AM)
The World Gold Council is a dummy front. -- one can not think of their PR as anything substantial. -- they serve as a diversion.

DCWoody -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 10:51:54 AM)
@thishere: gold obsessed fuckwits.

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:01:28 PM)
lol- he likes paper gold.

DCWoody -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:11:32 PM)
It's not paper gold though, it's protected paper gold. People figure out how to print british cash, through a system of strong agreements, the entire military might of damn near every nation on earth is out to stop them. The 'paper gold' I own (about 50 quid ish, it's all digital these days)....has strongly protected value. The gold gold you own......someone figures out how to synthesise it, and its value falls ~95% overnight. Gold has no intrinsic value any more than the material my cash is printed on (in?) has that much value, difference is there are powerful forces at work to maintain the stability of the value of cash (it varies, but everyone wants it to vary only slowly). Gold....could be fucked this time tomorrow. Putting 'lol' in front of your 'response' doesn't make you any less of a fuckwit. Is there a single person here who isn't a friend of yours who'd deny you're a fuckwit? Maybe, someone who hasn't been paying attention perhaps...

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:26:08 PM)
today then eat only paper food. lol

DCWoody -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:32:28 PM)
Paper is considerably more edible, and considerably more nutricious, less poisonous, than gold.

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:38:01 PM)
lol- maybe use the paper Internet. 6000 years of history. HA

DCWoody -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 12:49:24 PM)
The response to that one is obvious, but can't concentrate it in a short sentence. It is....impressive...in a way, that you haven't been banned yet.

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/22/2010 1:00:55 PM)
I love gold. I love silver. I am glad I can dump worthless FRNs on bills. Hopefully that will continue.

thishereboi -> RE: Gold reclaims its currency status as the global system unravels (6/23/2010 6:36:05 AM)
quote: ORIGINAL: DCWoody @thishere: gold obsessed fuckwits. Ok, thanks[:)]

pahunkboy -> RE: Gold reclaims its currency status as the global system unravels (6/23/2010 6:50:23 AM)
quote: ORIGINAL: thishereboi quote: ORIGINAL: DCWoody @thishere: gold obsessed fuckwits. Ok, thanks[:)] sings- all ya need is love.- HA

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