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Gold reclaims its currency status as the global system ... - 6/22/2010 1:27:12 AM   
Brain


Posts: 3792
Joined: 2/14/2007
Status: offline 		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




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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 4:31:47 AM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		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.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 4:54:05 AM   
calamitysandra


Posts: 1682
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Status: offline 		Oh damnit Brain! What were you thinking posting this story? Pahunk is going to have a coronary (well, or an orgasm ).

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 6:33:11 AM   
thishereboi


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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"


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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 7:03:27 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		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 $. 

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 7:06:32 AM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		Hoard aluminum.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 7:16:44 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		The World Gold Council is a dummy front.

--  one can not think of their PR as anything substantial.

--  they serve as a diversion.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 10:51:54 AM   
DCWoody


Posts: 1401
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Status: offline 		@thishere: gold obsessed fuckwits.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:01:28 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		lol- he likes paper gold. 

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:11:32 PM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		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...

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:26:08 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		today then eat only paper food.    lol

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:32:28 PM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		Paper is considerably more edible, and considerably more nutricious, less poisonous, than gold.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:38:01 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		lol-  maybe use the paper Internet.

6000 years of history.    HA

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 12:49:24 PM   
DCWoody


Posts: 1401
Joined: 10/27/2006
Status: offline 		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.

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RE: Gold reclaims its currency status as the global sys... - 6/22/2010 1:00:55 PM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline 		I love gold.   I love silver.

I am glad I can dump worthless FRNs on bills.     Hopefully that will continue.

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RE: Gold reclaims its currency status as the global sys... - 6/23/2010 6:36:05 AM   
thishereboi


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Joined: 6/19/2008
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quote:

ORIGINAL: DCWoody

@thishere: gold obsessed fuckwits.


Ok, thanks


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This here is the boi formerly known as orfunboi


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RE: Gold reclaims its currency status as the global sys... - 6/23/2010 6:50:23 AM   
pahunkboy


Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline
quote:

ORIGINAL: thishereboi

quote:

ORIGINAL: DCWoody

@thishere: gold obsessed fuckwits.


Ok, thanks



sings- all ya need is love.-   HA

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