Gold becoming a cellar dweller

First topic message reminder :

I note that the price of gold has been continually falling in the past 5 months yet gold has been in very high demand from India..
With the demise of the gold price a lot of small gold miners will start feelin the pinch..

$1575.00 aussie mmm maybe time to reconcile ones position..

Is CASH king?

Obviously we all need a crystal ball..

I note a few people who keep telling me what they think their gold is worth--I dont have a problem with that I have a concern with individuals saying that its worth a lot more--My simple answer to those characters is to go out there and buy it--real simple and if u dont have the backing then talk is cheap..

My humble opinion would be, to sell your stash and convert it to cash and if u still want gold then buy gold bars from the Perth Mint ..otherwise sell it on flea bay --there seems to be a lot of confused individuals out there buying gold at even highly inflated prices coz its on auction--a lot of it is less than a gram..

So until gold finds its direction in life I feel its downward spiral will continue..

regards
oneday

Bignuggs wrote:Ok, so ya got the USA printing more money hoping it will help them.  It's a well known fact the Japanese and Chinese governments bought a lot of the US debt, how that is done I don't know, but if they ever call in the IOU's, I'd hate to think what would happen.

Think back about 70 years ago.  A country in Europe starting printing more money in the hope it would help as they had big debts to pay.
End result ?  a wheel barrow full of notes was needed to buy a loaf of bread.  

By printing more useless currency, what was the result of their actions ? a bankrupt country.

Hmmm, I think I'll start converting some of my cash to gold if the price drops lower.

Cliff,

US debt is obtained by purchasing US Treasury Bonds, commonly known as "T Bonds" in the international bond markets. This bond is simply a piece of paper that promises to return the initial capital cost of the bond plus the agreed interest rate in "X" number of years. "Long dated" bonds can have a term of 30 years or more!! The US has been very clever over many years by selling "long dated" T-Bonds at very low interest rates to support the US dollar and keep it strong against other currencies. The biggest holders of US T-Bonds was Japan from way back in the 70s but I think that has been well surpassed these days by China. The problem is the USA has been living on other peoples money for the last 35 years and that statement is supported by quotes from the US Federal Reserve Bank, thier own US Congresss and leading US economists.

BUT<,,,,,,,the Chinese are now getting a tad upset 'cos back when Adam was in short pants they bought US T-Bonds when a "dollar was worth a dollar", but now 20 odd years later they are seeing the US Dollar buys only 60% of what it bought 20 odd years ago as it's been falling against other world currencies for decades. e.g - look at how high the Aussie dollar is!. So the Chinese have recently told the USA that they can no longer guarantee that they will continue to buy US T-Bonds and don't rely on them to bail out the USA forever. Why do this? Simply because they've seen thier years of investment in T-Bonds become worth only half of what they paid for 'em, even including the interest!! Plus China doesn't need America anymore.

BTW - Instead of buying T-Bonds, China is now the biggest buyer of gold in the world as well as being the world's biggest gold producer. That must tell us all something.

God help us all if Japan and China ever ask for thier money back!! Japan never will but China might.

Cat

agree Cat & already the fed (private bank run by mostly jewish people ] nothing racist or religist in this , pure fact , are already happy to grant chinese US land in default of their soon to come debt defaults .
Already in the US I read about chinese soldiors here n there ready for the collapse & the coming marshall law , the first trigger is to disarm the us citizens & when that gathers full speed the game is really on.

she definitely is on a roller coaster ride and I'm ready to spew--

regards
oneday

geez shes heading towards $1400 again but a bit of resistance..

will keep a close eye on it again.. every dollar counts..

regards
oneday

reports through the Kitco site and other news blogs of a drop to the resistant point of US$1180 just prior to new year due to profit takers. rebound immediately back to US$1450 or higher. interesting times ahead and maybe some quick cash to be made for the traders.

Don't lose any sleep over it fellas, you can bet your last dollar it is not a matter of "if" but "when" gold will bounce back to an even higher price than the 2013 high.

only trouble is some of us cant wait for the bounce back coz we have mounting bills like fuel and a bit of grub to pay for --oh did I say breakdowns to pay for parts as well..

thank goodness its Xmas--maybe we will slow down --nah just move camp--find more gold..  

regards
oneday