Gold at ATH.....what do your tea leaves say?

The tea leaves have spoken, the price of gold (currently $3825/oz $AUD) is:

  • In bubble territory - a correction is imminent, but buying the dip is a good idea.

    Votes: 1 6.3%

  • Overvalued - its time to start selling and continue doing so. Bear market on the horizon.

    Votes: 0 0.0%

  • Plateauing - minimal movement expected from here on.

    Votes: 3 18.8%

  • Undervalued - This is a great buying opportunity.

    Votes: 5 31.3%

  • I dont drink tea.

    Votes: 7 43.8%
  • Total voters
    16
  • Poll closed .
Whichever type of failing system we have, it's working great for asset hodlers.
Homelessness up almost 20% in
Merica this year.
Consumers so strong and resilient!
 
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JohnnyBravo300 said:
Yeah i guess it's all perception.
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I think most of it stems from a misunderstanding of fiat. If someone holds to an opinion of what they think fiat should be but it's not designed to fulfill that role, then obviously they're going to consider it a failure.

Take retaining purchasing power or a store of wealth as two examples. It's not designed to fulfill either of those functions.
 
mmm....shiney! said:
...
Take retaining purchasing power or a store of wealth as two examples. It's not designed to fulfill either of those functions.
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and this is why they fail (ever so slowly until not so slowly). The celebration of debasement amongst the MMT crowd is a curious perversion IMO.
 
A celebration of debasement? What exactly is there to cry about debasement when fiat is not designed to retain purchasing power? There's a whole host of asset classes to put your wealth into. Have you ever heard about gold or BTC for instance? Just don't keep it in fiat and you're probably ahead of the game.

Altogether though your post is just proof in point regarding the misunderstanding of the function of fiat. Fiat fails when the State fails. Until then it serves it's purpose as a tax credit.
 
The working environment is getting easier and easier with less competition all the time.
Our new guys start at over 2k for a full week and there's no one interested at all.

8 or 10 years ago we had 30 or so on the crew, now 6 or 7 if we're lucky.
Why does no one want money?
 
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Ive also noticed in the job market that government jobs aren't what they used to be.

USPS is hiring but it only pays $19 an hour for a mail carrier.
My father in law is a retired mail carrier. He raised three kids and supported a wife, mortgage, nice cars and all the Federal bennies you could want and a fat retirement.
Now the bennies are minimal and the pay sucks.

I applied for a structural trades job at the college here and although some of the bennies are decent the pay sucks just as bad.

Since I started working, ive noticed that govt jobs usually had higher pay and benefits that the private sector didn't provide but now it seems to be reverting back.
Wages in the private sector have risen much more in the last 4 or 5 years.
 
mmm....shiney! said:
It's not perfect but it's certainly not failing.

"Goldbugs are never without misery and never without hope."
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I think it’s more about reality shiney :)
I know, everyone’s reality is different depending on experience, as we’ve proven.
So you’ve mentioned, you have no reason to believe that the powers that run our show would lie to us.
Can I ask, what reason you have that these powers tell us the truth?
 
mmm....shiney! said:
I think most of it stems from a misunderstanding of fiat. If someone holds to an opinion of what they think fiat should be but it's not designed to fulfill that role, then obviously they're going to consider it a failure.

Take retaining purchasing power or a store of wealth as two examples. It's not designed to fulfill either of those functions.
Click to expand...

correct,
Medium of exchange only.
And the majority don’t know this because it’s not taught.
 
Food for thought
Australia: gold up almost 40% over 12 months and almost 670% over 20 years, averaging close to 33% per year
Inflation hedge?
Store of value?
Appreciating tangible asset?
A relic of the past?
You could use it as collateral once, wonder why the policy was changed?
 
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