Gold Is In Meltdown

[Atoning Unifex]

It is unreasonable to be closed minded to the ability oif science to achieve things tomorrow that were inconceivable

But Lab Director Stew Pidasso said

lab director "stupid ass", just in case anyone had ANY doubt this entire story and indeed virtually everything fantasistbear has posted on the subject of the creation of gold under lab conditions is totally false this particular story has been doing the rounds on gold forums (as a joke) since as least last april fools day.

an utter and complete fabrication and a transparent one to anyone with any scientific training whatsoever (me included)

posting this drivel as fact RB is Sophistry at best and at worst malicious please refrain in future.

two further points i would like to make (obviously,IMHO)

deflation under the gold standard is a good thing, a slight deflation took place in america for over 80 years under the gold standard and prices in england for over 150 years were also stable.

fiat is theft pure and simple.

@ RB gold as an investment over the last 30 years or so is not really the point since the abandonment of bretton woods in 71 gold should have been part of everyones asset base as insurance against the collapse of the fiat monetary system as 5-10% of a persons net worth,it is, has been, and will be a sensible level in actual gold metal stored as close to ones person as possible to insure for this ever present possbility, human nature and historical precident make it essential for any reasonable person to take this step IMHO.

i could go on about the deal that was struck to supply a certain amount of dollars and a certain amount of gold per barrel of oil by jimmy carter as part of the "carter doctrine", but suffice to say in a nutshell it involved the crushing of the price of oil and gold to cripple the FOREX earnings of the former USSR hence the FED's high interest rates in the very early 80's and now here we are , that game has ended and surprise surprise the americans have a "slight" presence in the middle east right on the fault lines of two countries with huge in ground reserves ...

anyone notice the gold-oil relationship over the last year or so interesting yes ?

anyone guess the endgame from the americans now that the last vestige of "RAH RAH GO USA !!" dollar wonk patriotic drivel is being wrung out of every cheerleader,carnival barker and sheeple....?

the system is long overdue a reset and the bailing out of the bankers beforehand is kind of a requirement.

may you live in interesting times, regardless of the politics of the gold standard and investments etc LOL.

[notrich]

There is only about 120,000 tons of gold in the entire planet mined or unmined and it can't be created, that is the reason to have it as a store of value against inflation, which fundamentally is the creation of money by the printing press.

Yes it is very volatile in the short term but over the longterm it will protect against inflation by fiat money creation. Personally I have held it since mid 2003. Just wish I had used my pocket money in 1971 to get it at 35 dollars an ounce after the gold standard was scrapped.

[Sinking Feeling]

There is only about 120,000 tons of gold in the entire planet mined or unmined and it can't be created.

You mean my lifetime of devotion to alchemy has been for nothing........

Anyone know a scrap metal dealer who gives a good price for lead?

[Errol]

Just remember. All these 'loans' being given to financial institutions will be rolled over into the next lifetime. Interest will be forgiven.

[carseller]

Don't be fooled by the central banks dumping gold and silver reserves in order to halt the rise in metal prices. The lowering of interest rates by the Fed this week only opens the door for more printing of dollars backed by nothing. The illusion the Fed is trying to create of a strong dollar while at the same time pushing a policy of printing unlimited quantities of cash can't hold for long. The reality is driven by the market, and the market is running dry. Every supplier of silver and gold is running out due to huge consumer demand to trade in worthless dollars for something that will hold its value. Below is the statement from APMEX.Com, the American Precious Metals Exchange. They cannot keep up with demand and are begging people to sell them metal to keep up. It's a great time to buy on this artificial dip in prices.

http://www.nationalexpositor.com/News/1113.html

Three more major silver dealers are reported to be out of silver today: The U.S. Mint, Kitco, and Monex. This, on top of the major dealers yesterday, Amark, Perth Mint, CNI Numismatics, and APMEX, all reported sold out. Further, nearly all of Canada is reported to be out of silver, from Vancouver to Toronto.

This is unprecedented, and is a perfect case of market manipulation in the paper market at COMEX and other futures exchanges to see silver prices continue to drop down to below $17/oz. today. Paper promises can be created endlessly, but real silver cannot.

http://www.silverstockreport.com/2008/shortage.html

There was a demand for gold in Asia, and for industrial purposes that drove the price, an increasing demand as their wealth grew the middle class in china and India, and other Asian countries bought more gold, now the price is so high that , that demand is much lower from what seems to be genuine demand. investment demand that did not exist back then have went through the roof, while the actual demand in Asia is lower. There was a demand driven situation, now speculation have taken over a long time ago, I think it was around 600-650 USD, the gold price disconnected from the fundamentals.

I's expensive and getting more expensive. I don't buy into those who claim gold are cheap.

Edited March 24, 2008 by carseller

[Steve Netwriter]

Gold expensive

Hmmm, I'm not so sure about that.

It looks more like paper currencies losing purchasing power to me:

[carseller]

I think the movement on the curve are similar to the "post gold bubble" booms, that have brought the gold price higher, then lower again, this time it's just on a much more gigantic scale, because of the size of the boom. It was credit before, it is credit now, I think that means, gold will go down again.

Edited March 25, 2008 by carseller

[Guest_chris c-t_*]

I think the movement on the curve are similar to the "post gold bubble" booms, that have brought the gold price higher, then lower again, this time it's just on a much more gigantic scale, because of the size of the boom. It was credit before, it is credit now, I think that means, gold will go down again.

Well, not sure if it counts, but the smackdown for today has started!

[carseller]

I must admit I am in doubt if we are in a for a post credit bubble decline in gold, and other commodities, or if what we saw was just a small correction in a long term bull market. Just before the crash I was looking at sugar priced at around 13 then.

I have been investigating sugar and coffee for a long time, most interested in sugar. I think the most spectacular gains to be had, if those advocating commodities are right, are in sugar.

A look at the past when sugar doubled 45 times, and how low the price are now compared to then.

I know we have substitutes today, but still, to me it seems it have a huge upside, and very little downside compared with most other commodities.

Now it's around 11.

These prices are NOT inflation adjusted.

Makes the old bull market in gold look quite tame.

Edited March 25, 2008 by carseller

[wren]

I have been investigating sugar and coffee for a long time, most interested in sugar. I think the most spectacular gains to be had, if those advocating commodities are right, are in sugar.

A look at the past when sugar doubled 45 times, and how low the price are now compared to then.

I know we have substitutes today, but still, to me it seems it have a huge upside, and very little downside compared with most other commodities.

Makes the old bull market in gold look quite tame.

Thanks for the graph.

Please help me. What substitutes are there for sugar? (I mean in a general sense.)

It seems to me that fossil fuels and thereby largely obtained foodstuffs, metals, other minerals and so on, cannot keep up with the global population. I fear that increasing shortages will appear in only the next few years.

[carseller]

Thanks for the graph.

Please help me. What substitutes are there for sugar? (I mean in a general sense.)

It seems to me that fossil fuels and thereby largely obtained foodstuffs, metals, other minerals and so on, cannot keep up with the global population. I fear that increasing shortages will appear in only the next few years.

The one I know most of, in sugar free soda, and lot of "health" products, is aspartame

Here is a youtube video I found:

Edited March 25, 2008 by carseller

[id5]

Thanks for the graph.

Please help me. What substitutes are there for sugar? (I mean in a general sense.)

It seems to me that fossil fuels and thereby largely obtained foodstuffs, metals, other minerals and so on, cannot keep up with the global population. I fear that increasing shortages will appear in only the next few years.

Xylitol

The jury is still out on Aspartame as some studies have found that it is linked to cancer

[carseller]

Xylitol

The jury is still out on Aspartame as some studies have found that it is linked to cancer

It seems my chewing gum claim to have that, and advertice with it, but on the back side it clearly said it had that other stuff to.

So maybe it's cheaper with the more health hazard stuff, and they just pretend to use the other.

I am a great fan of sugar, I never buy sugar free soda myself.

Edited March 25, 2008 by carseller

[Maggot_with_halitosis]

There's natural alternatives to refined sugar (sucrose) - fructose has twice the sweetening power and is naturally present in fruits.

Saccharin is/was the original artificial sweetener and is an order of magnitude sweeter than sucrose - look at the tiny size of a single Hermasetas tablet with the equivalent sweetening of a teaspoon of sugar.

Aspartame and Acesulpham-K are two (relatively) modern artificial sweeteners that do not feature the aftertaste associated with saccharin.

Sorbitol is another artificial sweetener. It's also a mild(ish) laxative, so a sweet tooth can lead to a sore ringpiece.

Sucralose is a new-ish sweetener without any known health scares (yet).

I'm sure there are dozens of others. Wikipedia has very good write-ups on all these (and more)...

[wickywackywoo]

There was a demand for gold in Asia, and for industrial purposes that drove the price, an increasing demand as their wealth grew the middle class in china and India, and other Asian countries bought more gold, now the price is so high that , that demand is much lower from what seems to be genuine demand. investment demand that did not exist back then have went through the roof, while the actual demand in Asia is lower. There was a demand driven situation, now speculation have taken over a long time ago, I think it was around 600-650 USD, the gold price disconnected from the fundamentals.

I's expensive and getting more expensive. I don't buy into those who claim gold are cheap.

Given that nobody really knows how to calculate a fair price for gold/silver, you could be right or you could be wrong.

[wren]

Thanks guys,

that aspartame and xylitol would solve the problem of feeding the world had not occurred to me.

Haleluya!

[carseller]

Given that nobody really knows how to calculate a fair price for gold/silver, you could be right or you could be wrong.

I trust the judgment of Warren Buffet and he certainly think it is in a speculative phase.

[wickywackywoo]

I trust the judgment of Warren Buffet and he certainly think it is in a speculative phase.

A fair comment but he has been known to be wrong occasionally. Read his latest report for examples.

I have great respect for the man but even he has never seen the conditions the world economy faces today.

[hollogramme]

I trust the judgment of Warren Buffet and he certainly think it is in a speculative phase.

He cannot really say any other imagine what would happen to the price if he came out positive on it the market is very small.

As to sugar a lot of food products I have recently noticed and normally avoid because they contain glucose fructose syrup (derived from corn as a sweetener for soft drinks ,jam etc etc) have replaced the gluco-frutco syrup with you guessed sugar.

Now knowing that food manufacturers are interested in our health before profit I wonder why they have switched back.

[SurgeonGeneral]

I think the movement on the curve are similar to the "post gold bubble" booms, that have brought the gold price higher, then lower again, this time it's just on a much more gigantic scale, because of the size of the boom. It was credit before, it is credit now, I think that means, gold will go down again.

The point about gold is protection of some purchasing power, rather than purely speculative gain.

[headmelter]

Gold seems to be on th rise again.

"Sorbitol is another artificial sweetener. It's also a mild(ish) laxative, so a sweet tooth can lead to a sore ringpiece."

I remember travelling with a friend who ate several packets of mints sweetened with sorbitol which resulted in very frequent visits to the jacks on a long haul flight.

[Guest_chris c-t_*]

I have bookmarked this specific post.

Gold is at 916, Silver is at 17.40

I am buying.

I will refer back to this thread in due course. Maybe some idiots on here need to see hard figures and facts and understand the dynamics of markets or understand the term secular, maybe look around them and understand the forces and actions of govenments/banks and their wish to save themselves, their currencies, their lifestyles, their preservation at the expense of their own people.

Maybe once in a while they need to pick up a media report or two that isn't meant for apathetic spoon fed morons.

I am not going to bother explaining to what's left on this site right now why I am buying gold or will continue to at any sign of any correction, the reason to explain myself died with the most popular thread on here and it's most prolific postsers.

I will be back..

Good Call, (still, this might be a suckers rally, but it feels good anyway! what the hell!)

[silversliver]

you're all missing the point - its SILVER that's going to rocket.

look at the demand v supply over the past 3000, 60 or 15 years. do your own research, have a look at the silver thread and you'll be converted to SILVER - thats a promise!

silver is rarer than gold and with no government inventories remaining, it'll soon cost more than gold.

[carseller]

AS I also posted in the other thread.

See, the FED is causing hyperinflation.

See: http://bp3.blogger.com/_nSTO-vZpSgc/R-tRE0...-2008-03-12.png