i remember Costello and Howard selling a huge chunk, 200 ton of our gold reserve around then and punishing gold prices for a good 5 years. I own silver and find gold, its a lot cheaper. Gold is over valued to the hilt and an outstanding honest correction would be a gold price drop to bring it back to pro rata.
Just wondering if you know who they sold the gold too? I'm trying to find info about it on the internet but I can't seem to find any. Thanks.
no, i don't sorry. I'm guessing the US brought it to pay the Egyptian debt, after they got the Gold clad Tungsten bar "Fiasco" and needed some real stuff Edit: Im sorry your gold is in the mail. I dont know how this happened. lol....!
Just curious what is the "Tungsten bar fiasco" you referred to I have not heard of it, sounds interesting can you give me a reference? Thanks..
Just found this link after a quick google so we can't trust the Banks or Fort Knox:lol: http://www.godlikeproductions.com/forum1/message1030322/pg1
And I thought I was a pessimist - such a correction would be devastating and like a heroin addict needing a fix, I bought more silver a few minutes ago. Pray the Lord the correction is to the moon and not the bowels of mother Earth.
I can't stand all the comparisons between the "1980 High" and todays price. The silver market was cornered. It had nothing to do with the fundamentals of why silver is a good investment.
And here i thought that you are reffering to JPM massive shorts, silly me Silver market is all good and propah now
Yeah I went looking for that. Australia sells 167 tonnes in 1997 and in 1999 Gordon Brown sells Englands, known as Brown's Bottom. Have you tried to find the one about Kerry Packer's stollen gold in 1995 this is what you get. 1995 A$5.4 million worth of gold bars, and a Vegemite jar full of gold nuggets, the provenance of which was never publicly explained, were stolen from Packer's personal safe, I'd like to know what the insurance payout was. And the once count just how heavy was 5.4 million dollars worth of gold and how did they get the truck into the office. What was Kerry Packer doing with the barbous relic in his personal safe. Roughly $385oz a side ways year, so 5.4 mill devided by 385 = 0.397t roughly 35, 400oz bars. You could, if you had a stong back fit three of those bars in a purpose made backpack, 33kilo's, that's five trips out to the ute parked out the back with you and your mate, that's what I call hard earned thirsty work. This would make a good movie. I wonder if James knows where it is, hang on how old was James in 1995 him and that Murdoch brat probably did it as some sort of rebelious stance against their unfair up bringing. It's late I gotta go to bed.
Where did the gold go? Who'd it get sold to? Well, first ask the question, why did they sell it? Answer: On command of the IMF. Who'd they sell it to? I believe the answer is quite probably: To the IMF. No country dared to go against the IMF... it was the central bankers cenntral bank. The central bank of last resort. The answer to the world's reserve problems. No more asian currency crisis, no more shortages of reserves. Still, I despise the IMF.
I imagine having 400 oz of gold in Packer's personal safe is a bit like us having 10 oz of gold in our personal safe - for some that is small change for emergencies while the real stash is in the bank vault.
its easier to move 33 kilos with a trolley any trolley would do ... a cleaner's trolley or even a drinks trolley ... being an office environment ....
written in 2006 Who wants to be a bullion-aire? The total volume of gold ever mined is about 147,000 tonnes. Of this, almost 60 per cent has been mined in the past 55 years. It is estimated there is still 38,000 tonnes of gold underground, about 15 years supply at current production rates. Central banks hold 27,722 tonnes, or 19 per cent of all the gold that has ever mined. In practice the amount of known gold reserves remains fairly constant since the results of new exploration finds replace those resources that are mined The gold price is usually quoted in US dollars per troy ounce. To calculate the cost of one gram of gold, divide the US dollar price for one troy ounce by 31.1035 (one fine troy ounce is equal to 31.1035 grams). The world average mining cost per troy ounce is about $US235, plus $US30 to $US40 to cover exploration and head office costs. Seven years ago South Korea bought more than five million ounces of gold from its citizens. Japanese investors fled to gold in 2002 when their government withdrew guarantees on bank deposits. Source: World Gold Council WHY YOU WOULD HOLD GOLD * Adds diversity to investment portfolios * Less volatile than most financial assets, and so less risky * Keeps its purchasing power over the very long term * It's a safe haven WHY YOU WOULDN'T HOLD GOLD * Price may drop if the US dollar rises * Central banks are net sellers * Has little relevance when there's little or no inflation * Doesn't earn interest or pay dividends more at http://www.smh.com.au/news/money/who-wants-to-be-a-bullionaire/2006/02/25/1140670298615.html
Does that apply to the 1980's high in Gold as well? Reaching a peak at the same time kind of indicates that the causes were somehow related, yet I've never read anywhere where the Hunts had anything to do with the Gold peak. That seems to be explained as geo-political with the USSR invading Afghanistan. At any rate, prices have to at least keep up with money supply growth, which is more than can be said for interest rates on savings accounts. Source: http://www.jsmineset.com Here's a great interview with James Turk & Chris Martenson on the unfolding financial catastrophy that is unfolding at an increasing (exponential?) rate. [youtube]http://www.youtube.com/watch?v=BsMj59hyJOQ[/youtube] A Quadrillion in OTC derivatives exposure in the global banking system, MF Global demonstrating no trust exists in regulators and every man for themself is the new mode of operation, no sovereign safe havens exist any more, USA/NATO/UN in perpetual war mode, global austerity measures underway, competitive currency devaluations, banks on the verge of collapse . . . how much worse are things than in 1980?
