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Gold Loses Status as Haven

dacrunch

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It's a bargain at these levels. It can go lower and it probably will bounce around the bottom for awhile. Buy what you can while you can.
Just what I'm planning.
Returning to Europe in a few days with FRNs... Going to buy Angels in Paris. Low premium and the $US has risen 20% against the € to parity... 346€ / Angel.
$9k should get 25 of them
 
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Casey Jones

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They monkey-hammer down the price; they send the Stupids to go buy 1s and 0s; and then they have their media servants write slop like this.

Yeah, people who don't understand what is money (which includes most money-changers and financialists) are going to be disappointed in how gold is "performing." It's bashed lower by a corrupt cabal of banksters with fake paper trades, and then they're sad that the gold/dollar exchange is lower than it had been. Because of course, the DOLLAR is what all wealth is measured against.
 

Lancers32

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The ultimate contrarian indicator?
Not always. August 1982 the week of THE bottom in the Dow 30 Barrons had a picture of a big ass bull on the front cover of their weekly.
 

Mujahid

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The goals of an investor and the goals of someone stacking are different.

As a stacker, I’m happy to hear that gold is cheap. That means I can buy more. The joke is on the people suppressing the price.
 

Lancers32

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The goals of an investor and the goals of someone stacking are different.

As a stacker, I’m happy to hear that gold is cheap. That means I can buy more. The joke is on the people suppressing the price.
The people who are suppressing the price are worth so much god damn money they really couldn't give a rip what your stack is worth.
 

Mujahid

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The people who are suppressing the price are worth so much god damn money they really couldn't give a rip what your stack is worth.

Good thing I also don’t give a shit about them or their opinions either.

I just buy gold and laugh.

Oh no, gold is on sale this week. Haha.
 

Unca Walt

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(*snicker*)

Wonder if there will be any of them sooper rich types that KEEP their wealth in fiat?

The USD could suddenly be just like a Semper Augustus tulip bulb in 1836. From the absolute pinnacle of trading worth, to just the material it was made of worth.
 

Tbonz

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Quick question, why are 1 oz Gold Buffaloes(24k) going for less on the open market than 1oz Gold Eagles(22k)?

Why less for higher gold content and both have the same US face amount?
 

Mujahid

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Quick question, why are 1 oz Gold Buffaloes(24k) going for less on the open market than 1oz Gold Eagles(22k)?

Why less for higher gold content and both have the same US face amount?

They both have exactly one full ounce of pure gold, just slightly different concentrations. **The eagle weighs slightly more than an ounce.** Composition is 91.67% gold, 3% silver and the rest copper.

Eagles simply command a higher premium.
 
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jrog100

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Gold is still way too high. when it gets sub $1k, time to start buying again.
 

Tbonz

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Not sure it’s going to get to $1000 or below, I think there will be a disconnect to the rest of the markets early in 2023.
 

Casey Jones

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(*snicker*)

Wonder if there will be any of them sooper rich types that KEEP their wealth in fiat?

The USD could suddenly be just like a Semper Augustus tulip bulb in 1836. From the absolute pinnacle of trading worth, to just the material it was made of worth.
I doubt they keep it in physical bullion.

They got rich off numbers and electronic money...so that's what they believe in. Stawks; bawnds; money-mawket funds; reel eschstate.

All valuated in the Almighty Dollar.

They may have some holdings in bullion pools (maybe some have supposedly-allocated supplies; but try collecting once the balloon goes up). But I doubt it - it goes against everything that's made them rich, everything they believe.

Money-printer-go-brrr; count up the manna from Heaven.
 

Lancers32

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Do you mean "bear".
Nope. Barrons put a bull on the cover at the exact bottom of the stock market in 1982. Dow bottomed 780 that week. Point being you can't use this kind of stuff all of the time as a contrary indicator. Sometimes it works and sometimes it doesn't.
 

Unca Walt

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I doubt they keep it in physical bullion.

They got rich off numbers and electronic money...so that's what they believe in. Stawks; bawnds; money-mawket funds; reel eschstate.

All valuated in the Almighty Dollar.

They may have some holdings in bullion pools (maybe some have supposedly-allocated supplies; but try collecting once the balloon goes up). But I doubt it - it goes against everything that's made them rich, everything they believe.

Money-printer-go-brrr; count up the manna from Heaven.
If it goes for some like you and I think... for some people the hand will be on the other foot, no error.

The wind of Fiat Collapse will lift up the Bird of PM which will drop the Egg of Penury upon their no longer lofty brows. [/Zorro The Gay Blade]
 

viking

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I'll take a couple hookers over gold anyday. They bring in income everyday, work for cash and are always in high demand.

Gold takes up little room and cost nothing to have on hand.
 

Casey Jones

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If it goes for some like you and I think... for some people the hand will be on the other foot, no error.

The wind of Fiat Collapse will lift up the Bird of PM which will drop the Egg of Penury upon their no longer lofty brows. [/Zorro The Gay Blade]
A rising tide lifts all boats.

Conversely, the rain falleth on the just and the unjust.

Only an incredibly-rich society (or one living on fiat-issuance-credit) can support dysfunctional DRONES like Kaiser Klaus, with his harebrained ideas and his Dr. Evil costume. Only a society that can afford foolishness, can allow his dupes and acolytes, like Newsom and Castro-Trudeau, to hold positions of power and responsibility.

Our now-progressing reduction to penury, makes this class of stupid, destructive Crony-Rich, unaffordable. Other societies, in decline, had no such. Toxic kings were beheaded, and their nobility hounded and slaughtered. Who emerged as leaders, were not the smartest, but the most-brutal and the most in-touch with the frightened peasantry.

This is the interesting, and frightening aspect of our future course. We don't KNOW who will emerge as our leader through the Fourth Turning. I can guarantee it won't be Trump - for his age, as well as the large, violent mass of people hellbent on his destruction.

But who, and how? Will he be worthy, or only bloodthirsty, like Idi Amin Dada?
 

TLM

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Quick question, why are 1 oz Gold Buffaloes(24k) going for less on the open market than 1oz Gold Eagles(22k)?

Why less for higher gold content and both have the same US face amount?

Quick question, why are 1 oz Gold Buffaloes(24k) going for less on the open market than 1oz Gold Eagles(22k)?

Why less for higher gold content and both have the same US face amount?
I guess the same reason .9999 silver maple leaves are cheaper than silver eagles.