Speculation & Gold

[Austrokiwi]

Ok who nicked it?

I have read that the Royal Canadian Mint has lost €11MIl worth of gold...............Now how do you do that? I have not found an English report of this though:

http://www.z24.nl/bijzaken/hebbedingen/artikel_80704.z24/Canadese_munt_is_11_miljoen_euro_aan_goud_kwijt.html

[Steve Netwriter]

From the number of "This message is hidden because Austrokiwi is on your ignore list." maybe this thread should be renamed the Austrokiwi ignore thread.

[revdev]

Maybe this thread should be renamed the Austrokiwi ignore thread.

Maybe you should get over yourself.

[revdev]

A lot of us value your work and effort on this thread Steve, but comments like your last one are uneccessary and low grade.

G

[Steve Netwriter]

I thought it was funny.
It looks funny to me just seeing loads of ignore messages.

Has anyone anything interesting to say?

[eri]

these guys all have something interesting to say

Austrokiwi, Bob Kane, Baron Silas Greenback, McDuck, Tricky ;o)

[muppet]

Sometimes.

[whitt]

Possible safe havens:
1. Food
2. 100% owned property
3. Gold/silver (not ETFs etc)
4. Other physical assets (antiques, jewellery etc )

I here the same message today. Food prices went thru the roof during previous hyperinflation periods in many countries.
So maybe agriculture is a good bet.
Possible safe havens:
1. Food
2. 100% owned property
3. Gold/silver (not ETFs etc)
4. Other physical assets (antiques, jewellery etc )
PS
Why not gold ETF's Steve?

[Steve Netwriter]

I here the same message today. Food prices went thru the roof during previous hyperinflation periods in many countries.
So maybe agriculture is a good bet.
Possible safe havens:
1. Food
2. 100% owned property
3. Gold/silver (not ETFs etc)
4. Other physical assets (antiques, jewellery etc )
PS
Why not gold ETF's Steve?

I mainly listed food in case the banking system collpased and you couldn't get food from a shop. Although I did buy loads of tins of pineapple which then went up 39%. They have since dropped back.
I'd still list food for both reasons.

Re gold - I consider gold a safe haven. It is ONLY a safe haven if you actually own real physical gold. Some ETFs claim to. Some are very suspect.
I also dislike some of them because they can be shorted. IMO gold is a hedge against governments. If I own gold I don't want that purchase to allow any government or cartel to manipulate the market.
Buying physical removes it from the market, and the more people who do that the more likely we are to get back to a truthful honest system.

[whitt]

Although if banking system collapsed then surely agriculture related items would spike in value too.

Food is the number one utility in the world.

[Steve Netwriter]

Well, strictly I think it's water

Hmmm, interesting. If the banking system collapsed, what would people have to buy food with? If they have no or little money, then although there would be a demand for food, there would be little money.
I think the system would return to bartering, in which case food would be valued re real things, whether that was watches, gold, silver, furniture etc etc.

If faith in the currency was lost, then it would buy little, so yes most things would go up relative to that currency.

Luckily we are no where near this as the system is fine, there is no money printing going on, employment is good, and the economies of the world are ticking along nicely. Or that's what I'm told

[Austrokiwi]

I have been active on Kitcos gold and silver forums................at the moment there are two camps................one warning that gold and silver are going to collapse the other that gold is going through the roof as the world, economically, ends.

I read with interest TMs recent posts in "financial Armageddon". All were scary but one in particular was very worrying..........that one being the rumour that US embasseys have been instructed to buy up local currency's........combine that with talk of a 1930s style bank holiday and one can really see massive storm clouds brewing. {the instruction to embasseys ( if true) may also indicate an armed intervention somewhere}

I will have to check back on Kitcos forum to see if those fears are being discussed.................but I wonder if a faltering US dollar will force gold up? IN the past that would be the case but as I have probably over mentioned Gold at current levels has driven many traditional buyers away. In terms of Euro Gold has been reasonably static in price........ and if all faith went in fiat currencys...and a commodity based barter system ( as in 1920s germany) operated.......would gold be effectively revalued downwards? What happens if China manages to convince the world that a new Reserve currency is needed.............The potential there is for gold to be revalued (downwards)

[Bob Kane]

Has anyone anything interesting to say?

Welcome back Steve.
At last you've got over your sulking.

[whitt]

Steve
Interesting to note that Zimbabwe locals have resorted to using gold for trading too. They are starting to use the inflated notes less and move to a more standard form of currency.

[Austrokiwi]

Interesting commentary

This commentary suggests that there has been very heavy speculation (shorting in Silver and gold)

http://www.youtube.com/watch?v=u0s1-t46ADo