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Thread: Gold hits record high this morning

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    Default Gold hits record high this morning


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    Red Rose. We probably have different views on this but the fact that the money in people's pockets can lose it's value and nobody has an opinion is amazing.

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    If anything its more significant than the oil price given supply issues, peak oil, cold weather and all the other variables attaching to oil

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    Rose. It is a bad day for trying to concentrate on gold with the caucus on but on the oil thread and I think the Iran threads gold was discussed at lenght. The big question is who bought the gold that Brown sold at 265 dollars an ounce. The gold owners will set the rules when the financial situation gets critical shortly.

  5. #5

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    Wow how exciting as its now at a higher $ price per oz than it was in 1979.

    What a crap investment.

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    as opposed to the stock market which is 40% down in certain areas?

    increase in gold reflects decrease in faith in the markets. and with a recession possbily coming who can blame anyone hedging their bets. particularly when theres still billions in bad dept out there no one can pinpoint.
    “The measure of a civilization is how it treats its weakest members.” Vote NO on May 25th. 2016 : Anybody but FF/FG/LAB !

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    Quote Originally Posted by youngdan
    ...The big question is who bought the gold that Brown sold at 265 dollars an ounce. The gold owners will set the rules when the financial situation gets critical shortly.
    Any idea who did buy it?

    Some of the more vulgar conspiracy sites tell us that this is planned, like 1929, except much bigger. When the currencies, starting with the US dollar, collapse they will be replaced with a gold-backed currency - so all the paper money we've been scrambling to accumulate will be even more worthless - will we be pushing a wheelbarrowful of Euros to buy a loaf of bread?

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    Arminius. If we had the answer to that question we would be in a good position to know what the future holds. When Brown sold the gold in a series of auctions which he announced in advance. By telling the market that a huge supply was going to hit the market it drove down the price to a record low. The gold which is supposed to be owned by the public was transferred to private hands at a bargain price. Recently the ECB sold 42 tons which coincided with the citigroup sale to Dubai which bailed out the bank and the entire system for a while. Perhaps the 42 ton is in a tent in the sand now. As far as I can see there is 3 possibilities. 1 The Russians and Chinese could have bought, this is the conventional wisdow. 2 The US treasury could have printed useless dollars to buy gold. If this is the case the Treasury will issue a gold backed dollar at a very high price and they are on top for the future. 3 the more sinister possibility is that the central banking families ordered Brown and the ECB and other banks to sell cheap while they bought. If this is the case then the real reason for the EU will become appatent too late and a fuedal society will return.

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    There are disadvantages to gold backed currencies which are very important. The 19th century saw regular recessions due to a lack of money supply. With a pure gold currency this is unavoidable.

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    Seabhcan. Maybe the central banks are deliberately engineering a depression right now for a gigantic transfer of wealth from the middle classes to the select few.

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