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Gold strategy in the current economy


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#2866 Democorruptcy

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Posted 23 March 2012 - 03:40 PM

I suspect the miser values their freedom more than they value things.


That's very true.

I read a book about 12 investors who had made piles of money and they didn't seem to have extravagant lifestyles. Most of them looked on the money as just giving them freedom.

http://guythomas.org.uk/blog/

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#2867 roman holiday

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Posted 23 March 2012 - 09:28 PM

I suspect the miser values their freedom more than they value things.

I see it a bit differently.... with no conflict between freedom and things.

The miser really values an abstraction, and then perhaps a merely abstract freedom. He will often cling to monetary wealth, or abstract wealth, while remaining poor in actual assets/ actual wealth.

The opposite of the miser will over-value things at the expense of freedom, and will often have work a life-time and a half to pay for their fetish for things/ trinkets.

A more moderate and healthy attitude to money involves simply living within your means; buy what you can afford without over-valuing either things or money. This idea of balance is also reflected in any sound currency system; the currency should function both as a means of exchange and a store of value... allowing besides consumption in the present, the postponement of that consumption for future date.

But I take your point on freedom if it is real freedom and not just abstract. The idea of accumulating money is to attain certain conditions by which you can enoy real freedom... or self-determination. Money is often the means to acquiring this end, which no doubt will involve some form of property ownership. The miser mistakes the means for the end.

Edited by roman holiday, 23 March 2012 - 09:50 PM.


#2868 roman holiday

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Posted 23 March 2012 - 09:42 PM

If someone has the money but cannot buy something because they don't think it represents value, are they a miser?

This really depends on personal circumstances, and what it is they want to buy. Assuming it is a house, and they think the value is over-inflated, and they are of modest means, then they'd be prudent to stay liquid. But they would then plot some strategy by which they could on more favorable terms buy that house. Whcih brings the topic back to gold... an appreciating form of liquidity. You buy it not because you're a miser, but because you want to swap it for a real asset in the nearish future.

If a person isn't materialistic and so accumulates money instead of things, are they a miser?

I suspect so, as it tends to the other extreme. The accumulation of money shouldn't be the end in itself.

Edited by roman holiday, 23 March 2012 - 09:51 PM.


#2869 Democorruptcy

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Posted 23 March 2012 - 11:43 PM

This really depends on personal circumstances, and what it is they want to buy. Assuming it is a house, and they think the value is over-inflated, and they are of modest means, then they'd be prudent to stay liquid. But they would then plot some strategy by which they could on more favorable terms buy that house. Whcih brings the topic back to gold... an appreciating form of liquidity. You buy it not because you're a miser, but because you want to swap it for a real asset in the nearish future.


I suspect so, as it tends to the other extreme. The accumulation of money shouldn't be the end in itself.


The first sounds like your miser. Delaying a purchase and putting a monetary value on everything by gambling on gold. Wouldn't a non-miser just buy?

I didn't mean the accumulation of money as a direct aim, just that if a person isn't materialistic maybe they just accumulate it because they don't know what to spend it on. If they don't give it away as they go along, it ultimately finishes in giving it away at the end.

Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#2870 The Masked Tulip

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Posted 23 March 2012 - 11:51 PM

Gold-Stock Panic Levels

http://www.zealllc.c...12/hgrpanic.htm
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2871 Democorruptcy

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Posted 24 March 2012 - 12:16 AM

Gold-Stock Panic Levels

http://www.zealllc.c...12/hgrpanic.htm


I posted a similar one on 22/3 that put some reasons forward for the current disconnect.

'resource nationalism' is increasing all over the world, that costs are ratcheting higher, that metal-backed ETFs give investors exposure to the metals while avoiding the hassles gold mining companies have to deal with
http://www.acting-man.com/?p=15598


Democorruptcy
If you say "Democorruptcy" quickly, it sounds a bit like "Democracy". In a "Democracy" people vote for politicians who represent their interests. In the UK's "Democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.

Governbankment
A "Governbankment" is a Government that has no line between itself and banks. It diverts public money (our taxes) to private companies (banks). George Osborne's Help to Buy Bail Banks, will see our taxes go to bankers to cover their losses on mortgages that default. The UK's Governbankment will even pay bankers "reasonable repossession fees" on Help to Bail Bank mortgages that default.

The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR, interest rates swaps, etc. are being paid by savers so that bankers can keep pocketing bonuses. 

"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%

If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm

I want to tell you my secret now.... I see debt people


#2872 roman holiday

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Posted 24 March 2012 - 12:23 AM

The first sounds like your miser. Delaying a purchase and putting a monetary value on everything by gambling on gold. Wouldn't a non-miser just buy?

No, it's the very opposite of gambling, or taking an all or nothing approach. The... let's call the 'non-miser' the moderate minded with a moderate pocket... would be very wary of taking on debt/ leveraging up. He doesn't want to gamble on risky asset prices. In those personal circumstances combined with a deflationary economy, a good argument can be made to keep that hard-earned in various currencies. There's an extra element of reducing risk by not be exposed to just one currency [whether gold or the pound]. This would involve diversifying your cash into various currencies... amongst which would be gold. As posted earlier, it's not about gambling on a few ounces of gold buying property... or wiping out debt. It's a prudent as opposed to a reckless approach.

I didn't mean the accumulation of money as a direct aim, just that if a person isn't materialistic maybe they just accumulate it because they don't know what to spend it on. If they don't give it away as they go along, it ultimately finishes in giving it away at the end.

OK, so if the accumulation of money no longer becomes the end then other ends will come into play. Having acquired the material conditions of life, he might focus on other spheres... could be social, educational, artistic etc. Money, earning it or increasing it, wouldn't be the prime motivation. Wouldn't that then be the end of accumulation?

Edited by roman holiday, 24 March 2012 - 12:32 AM.


#2873 Errol

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Posted 24 March 2012 - 07:36 PM

Gold charts -

http://www.tfmetalsr...u2/3-24gold.jpg

http://www.tfmetalsr...-silver-summary

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#2874 The Masked Tulip

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Posted 24 March 2012 - 10:19 PM

Tungsten-Filled 1 Kilo Gold Bar Found In The UK

http://www.zerohedge...ld-bar-found-uk


I have been wondering how long it would take before 'dodgy gold' began to appear. In any bubble or boom there are going to be loads of people who are going to use it for fraud.

When the IT boom started I took out insurance with a firm in Canary Wharf offering specialist IT contractor insurance - thousands of people did - and quite happily paid it for a few years. Then, out of the blue, I got a letter from Scotland Yard informing me that they were investigating the firm for fraud and were trying to locate the people involved.

I suspect - gut instinct - that an awful lot of dodgy gold has been sold in the past few years.
The success or failure of your deeds does not add up to the sum of your life. Your spirit cannot be weighed. Judge yourself by the intention of your actions and by the strength you faced the challenges that have stood in your way.

The people closest to you have been trying to tell you that you have made a difference. That you did change things for the better. The Universe is vast and we are so small. There is really only one thing that we can ever truly control - whether we are good or evil.


The political triumph of the American Right has been to advance relentlessly the economic interests of the country's richest people, while emphasising a swath of moral, social and foreign policy issues that motivate and certainly distract middle-class and poor voters.

#2875 Errol

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Posted 24 March 2012 - 10:35 PM

I suspect - gut instinct - that an awful lot of dodgy gold has been sold in the past few years.


Anyone buying larger bars (or bars at all) is taking a risk. Coins are far safer. At the least stick to reputable dealers - coininvestdirect, Bairds etc.

Still, far less of a chance of running into a fake bit of gold than a paper money scam.

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#2876 SnapCrackleNPop

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Posted 25 March 2012 - 02:26 AM

I suspect - gut instinct - that an awful lot of dodgy gold has been sold in the past few years.

:D ...

Ag 47

Edited by SnapCrackleNPop, 25 March 2012 - 02:27 AM.

"We must not let our rulers load us with perpetual debt" Thomas Jefferson.


"The modern banking system manufactures money out of nothing" Josiah Stamp.

#2877 FaFa!

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Posted 25 March 2012 - 05:21 AM

So just to clarify.

Saying you "would really jump in" means you have access to either lots of cash, non gold things things you could turn into cash or you would leverage up, at £600 - but - you would need a 40% drop in price to get so excited about gold?

Do you have a house? If so, is it mortgage free?

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#2878 Frank Hovis

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Posted 25 March 2012 - 06:57 AM

For those unfamiliar with the original reports that 60 metric tonnes of 400oz 'good delivery' bars were gutted and filled with tungsten, and swapped with US Treasury gold at Fort Knox in a highly sophisticated plan, an excerpt of his 2009 piece is included below:


The amount of “salted tungsten” gold bars in question was allegedly between 5,600 and 5,700 – 400 oz – good delivery bars [roughly 60 metric tonnes].
This was apparently all highly orchestrated by an extremely well financed criminal operation.
Within mere hours of this scam being identified – Chinese officials had many of the perpetrators in custody.
And here’s what the Chinese allegedly uncovered:
Roughly 15 years ago – during the Clinton Administration [think Robert Rubin, Sir Alan Greenspan and Lawrence Summers] – between 1.3 and 1.5 million 400 oz tungsten blanks were allegedly manufactured by a very high-end, sophisticated refiner in the USA [more than 16 Thousand metric tonnes]. Subsequently, 640,000 of these tungsten blanks received their gold plating and WERE shipped to Ft. Knox and remain there to this day. I know folks who have copies of the original shipping docs with dates and exact weights of “tungsten” bars shipped to Ft. Knox.

The balance of this 1.3 million – 1.5 million 400 oz tungsten cache was also plated and then allegedly “sold” into the international market.
Apparently, the global market is literally “stuffed full of 400 oz salted bars”.
Makes one wonder if the Indians were smart enough to assay their 200 tonne haul from the IMF?


Apparently the demand for Tungsten is rocketing - I'm getting in early!

http://silverdoctors...o-gold-bar.html
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#2879 hotairmail

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Posted 26 March 2012 - 09:30 AM

http://theshortsideo...-bottoming.html

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#2880 JohnLennon

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Posted 26 March 2012 - 07:09 PM

http://theshortsideo...g</strong>.html


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