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HOLA441

What to write.....IMHO, gold is in a huge bubble and if you continue in your belief system you may lose allot of money. I write this not as a 'troll' but as someone who gets the whole narative and someone who got sucked into the goldbug mindset. Having skimmed through this forum, seems there are allot of GBs here. Free your minds! Test your assertions, they do not hold inmho. Hold a tiny 1-2% in your balanced portfolio. No more.

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Against the Dollar? What Russia’s Increase of Bullion Reserves Could Mean

Russia seems to be launching a silent attack on the supremacy of the dollar and the Western countries, as President Putin is buying gold with “little fanfare, but on a large scale”; as there is no evident economic reason for such an increase, the move will provide Russia with an insurance against crises, according to German media.

http://sputniknews.com/russia/20160226/1035375018/russia-gold-reserves-increase.html

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Canada’s golden age is over

Canada has used up all of its gold reserves. For the first time since 1935 the country is out of gold.

The volume of gold reserves in Canada has declined steadily over the past 50 years. In the mid-1960s, Canada’s gold reserves exceeded 1,000 tons. By 1985, half had been sold. In 2015, the reserves were down to three tons and now the country has no gold left.

https://www.rt.com/business/334498-canada-gold-reserves-economy/

Edited by Errol
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In Gold We Trust: How the 'Entire Western Monetary System is a Fraud'

The largest Russian bank, Sberbank, is planning to increase the supply of gold to China up to 10-15 tons in 2018. Keeping in mind that both the Russian ruble and Chinese yuan are covered by gold, this step is a part of the “de-dollarization” of their economies, according to economist Peter Koenig.

https://sputniknews.com/business/201709071057180089-sberbank-gold-china-russia-economy/

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On 23/10/2014 at 23:28, Grandmasterspank said:

What to write.....IMHO, gold is in a huge bubble and if you continue in your belief system you may lose allot of money. I write this not as a 'troll' but as someone who gets the whole narative and someone who got sucked into the goldbug mindset. Having skimmed through this forum, seems there are allot of GBs here. Free your minds! Test your assertions, they do not hold inmho. Hold a tiny 1-2% in your balanced portfolio. No more.

IMHO you're full of it.

You offer no valuation for gold.

I do and here it is.

The UK has 310.3tons of gold reserves. It's monetary base is approaching £1 trillion. So if the SCO+, BRICS+ and EAEU adopt a gold standard AS THEY ARE DOING, then the World will have to follow suit as everyone dumps un-backed paper funny money.

That means a gold price of £100,000 to fully back the monetary base. As J.P. Morgan correctly said, when asked if credit was money: "Gold is money and nothing else."

EVEN IF they don't adopt a reset to the gold standard, paper funny money is GUARANTEED to lose purchasing power THAT'S THE WHOLE IDEA OF PAPER FUNNY-MONEY RATHER THAN GOLD. And ESPECIALLY with being up to our eyeballs in debt now.

So WHERE'S proof of a bubble?

Why hold 1~2% if it's in a bubble?

Where's the logic, rather than unfounded claims?

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HOLA4420

Furthermore, they signed the Central Bank Gold Agreement in Sep99. This ostensibly limits gold sales. But in reality, it limits gold purchases and redistributes gold between them

On 06/05/2015 at 09:52, Errol said:

There's a new cryptocurrency coming, and it's backed by gold

http://www.businessinsider.com/hayek-cryptocurrency-backed-by-gold-2015-5?IR=T

If you don't hold it, you don't own it.

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