What's Up with GOLD?
- Thread starter What Would Jesus Do?
- Start date
Devaluing the purchasing power of the dollar raises prices of commodities.
five year return of gold as of this moment is: 69.16% …. Niceeeeeee
I bought a couple of coins back when gold was $432.
The Gold market knows there is extensive inflation, no matter what we are told.
A lot of Americans want the gold standard but forget if that happens the folks who would benefit most would be Russia and S.Africa and other nations with large gold reserves. Plus organizations that horde gold, like the IMF.
I saw an Indian news video the other day worrying about how China is currently buying up a lot of gold.
This brings me back to Nixon for the second time this week. He was right to get rid of the gold standard. Man was brilliant but just had so many flaws.
Yeah! Inflation is hella better! Who doesn't love massive federal debt and trillion dollar annual interest payments from the taxpayer to Wall Street!
Today [November 21, 2002] an ounce of gold sells for $300, more or less. Now suppose that a modern alchemist solves his subject's oldest problem by finding a way to produce unlimited amounts of new gold at essentially no cost. Moreover, his invention is widely publicized and scientifically verified, and he announces his intention to begin massive production of gold within days. What would happen to the price of gold? Presumably, the potentially unlimited supply of cheap gold would cause the market price of gold to plummet. Indeed, if the market for gold is to any degree efficient, the price of gold would collapse immediately after the announcement of the invention, before the alchemist had produced and marketed a single ounce of yellow metal.
What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.
Of course, the U.S. government is not going to print money and distribute it willy-nilly (although as we will see later, there are practical policies that approximate this behavior). - Remarks by Governor Ben S. Bernanke Before the National Economists Club, Washington, D.C.
Bernanke didn't have the imagination to come up with the COVID response, but he predicted the effects.
Silver may be where its at. Obviously already built into the stock price; but it may become highly desirable with the # of EV batteries that will be needed soon.
I remember when Nixon was America's worst President.
Since then we've had George W Bush and Donald Trump.
Their awfulness doesn't exonerate Nixon, but sometimes I look back at how strong my feelings were against Nixon and think "how naive; you had no idea what was coming down the road."
He had a higher IQ than W or Trump. He did some good things...for example EPA. He just had so many personality faults/paranoia He couldn't be saved from himself
I agree, although Nixon gets too much credit for the EPA. He was getting a lot of shit from Nader and environmental types, so he tried to get ahead of them with some decent actions that he didn't actually care about and didn't cost him anything. Turns out, they were among his best legacies.
And, of course, many Rs since then have been trying to roll them back. Too much clean air and water. Too many consumer protections.
I hope you are kidding. Not terribly effective, true, but our most decent president in my lone lifetime. And most of what he gets slammed for was not within his control.
Disastrous does not even begin to describe how bad these two ghouls were
Wait, so you are basing those comments off decency? What made W so indecent in your opinion. How about Bill Clinton?
I say Carter was decent and you troll that into "what's so indecent about W?" And then you further troll that into whataboutism with Bill Clinton.
SMH
Carter's decency was easy to see in his respect for human rights, honesty, simple justice, and international law.
W lied America into a criminal war, turned a balanced budget into raging deficits with giveaways to the rich, and nearly led the nation and the world into another depression.
Clinton was a disappointment, but nothing like W or Trump.
Interesting theory.
Planned in Advance by Central Banks: a 2020 System Reset
The 2020 deadlines for gold repatriation by some European central banks appear to have signaled a 2020 monetary reset.
Why do far lefties like you get so defensive? I’m not trolling I’m asking you a question to figure out what your baseline is for awful president. Do you believe that W is an awful person or is it based on policy? I sure don’t think W was a bad person. Naive? Sure. Carter, for all intents and purposes was a great guy. Both were terrible presidents.
There has been a run on their gold bars. Earlier this week you could no longer buy them. They still had them on their site, but the app wouldn’t allow purchases.
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