What is gold really worth?

Discussion in 'Gold' started by projack, Dec 20, 2010.

  1. projack

    projack Well-Known Member Silver Stacker

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    Do you think the US would sell their gold reserve to the Chinese if they offer $3000/oz in US treasury?

    I do not think so. The US printed 5 times more money in the past year alone than the total value of the nation gold reserve.

    So what is gold really worth than?

    Would the US sell at $10,000/oz?
    The British certainly seemed very happy around $250/oz
     
  2. Naphthalene Man

    Naphthalene Man Active Member Silver Stacker

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    Brown's bottom - what a legacy :D
     
  3. ozcopper

    ozcopper Well-Known Member Silver Stacker

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    I think the British sold to bail out a bank! I doubt the US would sell at any price for fiat, as they can create as much fiat as they like already!
     
  4. dccpa

    dccpa Active Member

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    Why should we sell our gold? We will just keep printing money until it is worthless. Then issue a new currency backed by gold.
     
  5. projack

    projack Well-Known Member Silver Stacker

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    The US knows even though they can print money freely the sell would be below replacement cost regardless of the fiat price.
     
  6. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Where has all that gold from the English and US central banks gone? We know they won't sell to private citizens. China bought a bunch, but not anywhere near all of it. India and Bangladesh bought some too, but only a fraction of what was sold off.

    So where did all the gold go?
     
  7. dccpa

    dccpa Active Member

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    Ignoring the conspiracy theories. A lot of gold was loaned out to the banksters who either kept or sold it. Either way, the gold is not returning to the treasuries.
     
  8. projack

    projack Well-Known Member Silver Stacker

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    The British gold sale was well advertised in advance (negatively) to make sure the sell will archive the lowest possible price. They were taking about worthless reserve and rubbishing gold. This is event was well documented. So looks to me the buyer and a seller did not have any conflict of interest. They both wanted the lowest price possible, and they managed to achieve that exactly.

    And don't forget the British pound was also much stoner at the time.
     
  9. intelligencer

    intelligencer Active Member

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    I think the Rothschilds were still openly in the gold business at that time. They would have been "buyers".
     
  10. predecimal

    predecimal Guest

    Who says the US actually has any physical gold?? If one does see physical gold, how does one know who the actual owner is??? And if you owe more than you are owed, how can you actually own something.
     
  11. JulieW

    JulieW Well-Known Member Silver Stacker

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    I just went looking on google for answers as to why a very very smart man - Brown - would do such a stupid thing.

    http://www.timesonline.co.uk/tol/news/politics/article1655001.ece

    The Times can't explain it either, especially since the documents related to it (if they exist) are well hidden under Freedom of Information denials.

    This at ZeroHedge might throw some light. Historical but history does repeat.

    http://www.zerohedge.com/article/ex...anipulation-interwar-period-new-york-fed-does-

    I find it hard to believe that Brown would be so arrogant and foolish as to act as he did. Something like zerohedge's article makes more sense to me.
     
  12. silverwink

    silverwink New Member

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    Where did it go ?

    About the time that the price of gold was hitting it's low point in the late '90's and Britain was publicly trying to jawbone prices lower with it's pre-announced auctions, there was a huge settlement taking place.. Google "Swiss, gold, Jews" for some interesting reading, but I cannot guarantee you will find any answers.

    http://www.independent.co.uk/news/b...swiss-for-justice-over-nazi-gold-1265853.html
     
  13. systematic

    systematic Well-Known Member

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    What is gold really worth?

    Gold broken down into its monoatomic element has fantastic properties especially as a room temperature superconductor .... this has tremendous interest from the military.
    Patents mentioning room temperature superconductors can get you special attention.
     
  14. Silverthorn

    Silverthorn Well-Known Member

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    Jim Rickards did a speech that was linked to elsewhere where he put the price of gold in relation to how much percentage wise if the US backed their money against gold again. His values where between 3,000 and 7,000. The top figure would be 100% backing. Good speech. Long though and a big download.
     
  15. JPMorgan

    JPMorgan New Member

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    Gold is worth what the rigged market tells you it is worth.
    Gold is worth as much as the next person is willing to pay for it.

    Apart from stating the bloody oblivious let's say for arguments sake gold spikes at $10,000 an ounce... what are you going to do? sell?
    If it's at such a price it is because everything has gone to shit and hence those 10'000 sheets of paper you could trade it back for are next to worthless.

    Nah gold's only real value in my opinion is to try and protect what wealth you have.
    Any increases in the price of gold is just fiat currency devaluation against it.

    Here's one of many scenario's that could play out.

    Hyper inflation which ultimately leads to compete global fiat currency collapse which wipes out everyone's savings and all the government debt over night.
    After this occurs who ever is left standing gets to come up with a new clean slate fiat system.
    It's at this point you pray and hope you can exchange that yellow shiny stuff you have been clinging on to back into something that can be used to feed your family.
     
  16. goldpelican

    goldpelican Administrator Staff Member

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    If gold reaches those levels, ignore the currency value, and look at the price of other assets in ounces of gold. Gold might be $10,000 an ounce, but houses only $50,000 because unemployment is 15% and no-one can get a loan - 5oz buys you a house.
     
  17. JPMorgan

    JPMorgan New Member

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    That's if the government does not ban the public ownership of gold just like the U.S did in 1933, a ban that stood for 42 years until 1975.
     
  18. domdolittle

    domdolittle Member Silver Stacker

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    Why would they need to ban the public ownership of gold...

    when all they have to do is to print more money until it interests you to sell your gold.

    BTW I believe people where still allowed to own 5 ounces and numismatic items were exempted.

    And this was in the USA anyway, not in Australia, and we are now in the 21st Century... in a far different world.

    :cool:
     
  19. hanrahan

    hanrahan New Member

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    Gold is worth ONE! It is the unit of value assets are (should be) measured against.

    I've been a "bug" for many years and know it takes time to invert the way we think.

    And the Yanks are not silly enough to swap their gold for currency. They know they'll need it one day.

    BTW Costello sold our gold for the same sort of price Brown sold his.
     

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