fitkid

I always like ERROLS Quote.

COUNT YOUR WEALTH IN PHYSICAL OUNCES NOT PAPER PROFITS

The time is nearing when that will really ring true.

That relates to a thought I had recently: people who get out of GLD possibly just go into the real thing after all.

To put this into context, since December 21st alone, 2.2M ounces have been sold from the ETF, basically a bit more than an entire quarter of production from Barrick gold (the world's largest producer). The normal run rate of global recycling plus mine production is approximately 2.95M ounces per month. So in the same period, assuming GLD was the only source of outflow, total global absorbed gold supply was 5.15M ounces. If outflows continued at the current rate, the GLD ETF (the largest investor depository of gold by far) would have no gold in 18 months.

Not at all applicable to the man in the street though even if he was anything like AWAKE to what is happening.!!

And for those of you GLD fans that think you will simply hold onto your shares until the bitter end, I have a warning for you. These Giants don't need to over-bid your shares away from you. They can always buy them at the price of paper gold trading in London and New York. And there will come a point when you are watching the premium on physical coins jump from 5% over GLD to 50% on its way to 500% over the paper gold price. How long are you going to stubbornly hold onto your precious paper before you finally relinquish it to that last Giant's delivery "basket?"

Remember, unless you've got $13 million, you've only got paper

Interesting musings at FOFOA blog

http://fofoa.blogspot.com/

Who is Draining GLD?

There seems to be a misunderstanding in the gold market that when you buy or sell shares of GLD you are putting pressure on the price of gold. That selling shares of GLD into the exchange is somehow analogous to selling physical into the marketplace. Or that buying shares of GLD is somehow, somewhere down the chain, removing physical gold from the marketplace.........................

Let's make no mistake, these falls will take a very long time, and IMO, in real terms only. Nominal will be frustratingly poor (ie 0.5% down, then 1% up, 2% down, 0.5% up etc. etc.)

 

Real, real, real, real falls that's where to look.

I think you are mistaken if you think you will be waiting years.This is the 'MONEY SCIENTISTS' bread and butter.

CLASSIC PUMP AND DUMP.!!!!!!!!!!!!!!!

LISTEN TO THE GOOD DR ON THIS ONE HE AINT FIRING BLANKS FOR SURE!!!!!!!

http://www.bbc.co.uk/news/business-12285628

Bank mortgage approvals drop 10% in 2010

The property market stayed subdued in 2010 The number of mortgages approved for house buyers by the UK's main banks fell by 10% in 2010.

The British Bankers' Association (BBA) says its members approved just 400,000 mortgages between them.

http://propertytalklive.co.uk/landlords/39...-in-5-landlords

Rent arrears still a problem for 1 in 5 Landlords

A fifth of private-residential landlords have had tenants in rent arrears over the last three months, according to new research published by the National Landlords Association.

During Q2 2010, just over 21 per cent of landlords experienced rental arrears. This represents a small improvement on the previous quarter when 24.5 per cent of landlords reported the same.

However, the average amount of outstanding rent arrears has dropped significantly from £978 in Q1 to £799 in Q2. This could indicate that financial pressures on tenants have started to ease as the fragile economic recovery continues.

Chairman David Salusbury said:

“Rent arrears are a serious problem for landlords all over the UK. It is good to see the latest data which represents a small improvement in that more tenants are keeping up with their rent payments and not putting pressure on their landlords who may well have mortgage repayments to consider. It is critical that tenants and landlords communicate and work together to tackle financial problems before they result in a loss of rent or even the tenancy".

http://propertytalklive.co.uk/letting/5220...id-at-christmas

A landlord may not be for life – but should still be paid at Christmas

The property industry has again urged Ministers to keep to their pre-election pledge of restoring the direct payment of rent to landlords after new figures revealed that 11.7% of all UK rent went unpaid in December.

The LSL December Buy to Let Index recently showed that unpaid rent owed to residential landlords totalled £276mn across the UK in December, the highest total since December 2009.

The proportion of all UK rent that was unpaid or late by the end of December rose from 9.7% in November.

The British Property Federation said a key reason was the previous Government’s removal of the direct payment of housing benefit to landlords – a policy that has lead to increased rent arrears and evictions and has caused millions of pounds intended to be spent on welfare to leak out of the benefits system.

The BPF said there was growing evidence that the issue was dissuading landlords from letting homes to housing benefit claimants, restricting the number of homes available to rent and upping the pressure on hard-pressed councils to find homes for those on council waiting lists.

While it is possible, albeit slowly, to recoup rent from tenants who are not Local Housing Allowance claimants the same safeguards are not in place for those who are – costing the taxpayer millions of pounds each year.

Landlord groups, alongside homeless charities, have campaigned for the return of direct payment since it was removed in 2008. Conservative Party ministers, including Housing Minister Grant Shapps, had pledged to restore full direct payment before the election.

Ian Fletcher, director of policy at the British Property Federation, said: “Christmas is an expensive month for all, with the pressure to ensure presents under the tree come the 25th. But Christmas should not be bankrolled by tenants not passing December’s rent on to landlords.

“The government persists with a policy that was designed to empower LHA claimants, but the truth remains that millions of pounds of taxpayers’ money is being wasted and not finding its way to the landlord.

“There is already growing evidence that landlords are shunning LHA claimants due to rental arrears - putting pressure on local councils at a time when their budgets are being slashed by Whitehall.”

OPTIONS EXPIRY AND OFF WE GO AGAIN.THIS IS SO BLEEDING OBVIOUS...........................

THE CONmex SUPRISING ABSOLUTELY NO ONE.!!!!!!!!!!!!!!!!

http://www.bbc.co.uk/news/business-12267742

Dr Doom's gloomy predictions

Marc Faber's nickname is Dr Doom, and his investment letter is called the Gloom Boom Doom report. He sells advice about where to invest to wealthy people, companies and institutions. He is, in the lingo of the financial zoo, a bear. He's bearish about Europe and bearish about China, and he thinks that gold is one of the safest places to put your money. His latest report is titled "The End Game has Begun."

Business Daily's Lesley Curwen spoke to him at his base in Chiang Mai in northern Thailand and asked him why he feels the way he does.

The full transcript is below.

Marc Faber: I am very negative about the world, because I think that what caused the crisis in 2008 was excessive credit growth, excessive leverage in the system, and now the private sector is deleveraging, but governments are printing money, and through huge fiscal deficits are creating even more debt growth. So in other words, what killed the economy is now being applied to revive the economy, and I think this will lead to a disaster. But if you think it through and you believe in the disaster scenario I'm envisioning, then you will be better off in equities and in commodities than in government bonds and cash.

Lesley Curwen: So, what do you think is going to happen in 2011?

Marc Faber: Well, I feel that if the stock market in the US declines 10% or 20%, we would have QE3, in other words more money printing.

Lesley Curwen: You are talking about quantitative easing, QE?

Marc Faber: Yes, correct. We would have quantitative easing three and that will again boost stock prices, but not necessarily the economy of the man on the street.

Lesley Curwen: Now, you have talked a lot about gold and are suggesting that actually it's a good bet to invest in at the moment, why do you feel that?

Marc Faber: Well, I wrote first about gold in 1998 when it was below $300 and then the low was at $252 an ounce in '99, and since then, I have been advising people to accumulate some gold. So, right now, obviously the price has gone up and we had the 10 year bull market, so I am a bit more cautious. But in general, because of the money printing I was referring to earlier, I don't think that there are any sound currencies anymore, paper currencies, and that the only sound currencies are hard currencies like gold, silver, platinum and palladium.

Lesley Curwen: But, gold doesn't do anything, is it? It doesn't add to the economy. It doesn't employ people. It doesn't accumulate wealth except on paper.

Marc Faber: Cash at 0% doesn't accumulate wealth either. The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold.

Lesley Curwen: What is your view about China? In the past, you have said you think it might be about to crash.

Marc Faber: Well, I think in the case of China, we have clearly a bubble, if we define a bubble as an economy where credit growth is very strong and where interest rates are artificially low. But, will it burst tomorrow, in three months or in three years, who knows?

Lesley Curwen: But isn't the argument that if you hold investments in China long-term, at some point this huge potential of this country with its massive workforce and its government will to succeed, is going to win out in the end?

Marc Faber: Yes, that maybe the case, but I think for the average investor, rather than to invest in Chinese companies and stocks where the accounting is frequently very untransparent and questionable, if you really believe in China, then you buy oil or you buy industrial commodities or you buy the Australian or the Canadian dollar, or the Australian stock market. I mean there are better ways to play China than necessarily to invest in China.

Lesley Curwen: Why? How are those connected?

Marc Faber: Well, if there is very strong growth in China, then obviously the demand for commodities goes up and because we have some supply constraints, then the prices of commodities go up and the resource produces benefit.

Lesley Curwen: Let me ask you about the eurozone. What do you expect to happen to the eurozone in 2011?

Marc Faber: Well, I think the euro will survive, but as is the case in the US, the ECB is expanding its balance sheet, and that hates to see the balance sheet because the quality of the bonds they own must be of very poor quality and so, we will have to muddle through. But, in general, I believe some weaker countries or weaker members of the EU like Spain, Portugal, Greece eventually will default

http://www.zerohedge.com/article/egypt-pro...ound-gold-shipm

Egypt Proactively Preparing For Tunisian-Style Rioting: Airport Intercepts 59 Outbound Gold Shipments Worth Tens Of Millions

After a week ago we learned that the central bank of Tunisia had parted with 23% of its gold stash courtesy of now deposed president who fled the country with a 1.5 ton shipment of gold, it appears that Egypt is preparing for a comparable spike in revolutionary activity. Only unlike the now former Tunisian president whose gold sequestering actions were retroactive and thus, quite lucky to succeed, Egypt has taken proactive measures. According to Egypt News, the country's airport has intercepted 59 shipments of gold directed for the Netherlands "worth tens of millions." The gold, as well as an indeterminate amount of foreign currencies, was hidden in pillow cases: uh, cotton may not show up on X-Rays, but gold sure does. We eagerly await to learn how big the decline in the country's official holdings 75.6 tonnes of gold will be after this most recent episode confirming that gold is precisely money. And all this happening despite gold's complete and thorough inedibility.

Authority announced today the state of emergency to re-examine the expulsion of 59 gold and foreign currencies was on its way out of Egypt on the path of smuggling after the discovery of tearing some pillow cases before they are shipped to the Netherlands.

The workers were shipping on the plane heading to Amsterdam, the Netherlands were surprised to tear bags under the 59 parcels containing large quantities of gold and foreign currencies worth tens of millions were reported to officials.

Committee was formed headed by one official of the Egyptian banks have been re-examine the packages and parcels to make sure that shortages and supervise the shipment on the plane.

Latest king world news featuring Jim Rickards.

http://kingworldnews.com/kingworldnews/Bro...ickards%3A.html

THERE ALL AT IT NOW.AND YOU ALL THOUGHT GOLDFINGER WAS JUST A FILM. (and a TOP poster at GEI.)

From:

Auric Goldfinger is the chief villain from the movie of the same name. His first name, Auric, comes from the Latin word for gold, aurum (this is also the source of the chemical symbol for gold, Au). Goldfinger is obsessed with the metal gold, enthalled with its color and its "divine heaviness." He owns enormous quantities of gold, and it is this that brings him to the attention of MI-6. At the time of the film, Britain (and other nations) were still on a gold standard (defined by a series of post World War II agreements), and as a result the Department of the Exchequer (approximately equivalent the United States Treasury Department) kept a close eye on gold. They were perplexed and concerned that Goldfinger was somehow getting the metal out of the United Kingdom, to other places where it was less regulated, or where he could sell it for more money (a practice called arbitrage). Enter James Bond, assigned to discover just how Goldfinger was managing this trick.

Bond eventually discovers that Goldfinger's smuggling operation consists of replacing certain parts of his Rolls Royce automobile with parts made of gold, and painted. Goldfinger routinely took the car with him when he traveled, making it easy to smuggle the gold. At the destination, these parts were removed and replaced with conventional parts, and the gold melted and cast. Bond discovers this, and overhears Goldfinger discuss "operation Grand Slam" with an oriental man. But Goldfinger discoveres and captures Bond, securing him to a metal table and threatening to bisect him with a powerful laser. By uttering "Grand Slam" Bond worries the Oriental, and earns a reprieve. Goldfinger drugs him and takes him to America - the site of operation Grand Slam.

I spoke to a few dealers today about buying some physical at these lower prices,non available but would sell at £880.00.

Clearly the CONmex is not reflecting the physical/real market at all.

So i say trade your ETF's and other pieces of paper to your hearts content,but dont be suprised in what the future holds.?

BE WARNED.!!!!!!!!!!!!!!!!!!

MSM starting to change its reporting propoganda.

http://www.bbc.co.uk/news/uk-politics-12239562 video here

Falling house prices could help market and UK economy

Homeowners are gloomily anticipating higher interest rates, but are the British obsessed with house prices regardless of their effect on the wider economy?

Susana Mendonça reports on whether a drop in prices could actually make most people better off. She spoke to Economist Roger Bootle, author Shiv Malik and Lucian Cook form Savills Estate Agents

BUT £3.3 million for what is a terace in wandsworth is taking the PI**

RUDE AWAKENING HURTLING FORWARD.

http://www.bbc.co.uk/news/world-africa-12209296

Tunisian bank denies gold taken by wife of president

The central bank in Tunisia has denied reports that the wife of the deposed president took 1.5 tonnes of gold bars from it before leaving the country.

A spokesman for the bank said Leila Trabelsi "has never set foot here" nor met its governor.

The French newspaper Le Monde said she personally went to the bank to get the gold before her husband, Zine al-Abidine Ben Ali, was toppled.

They are now in Saudi Arabia after fleeing Tunisia.

Citing French security sources, Le Monde reported that Leila Trabelsi went to the bank in December, the month when the protests against her husband's government began.

It said the bank's governor refused her demand and asked for a written request for the gold, said to be worth 45m euros (£38m). It said the president initially refused to make such an order before giving in to his wife.

The paper said she then left Tunisia before returning to the country, and that the gold bars were reportedly taken to Switzerland.

But a spokesman for the bank, Zied Mouhli, told the BBC that the official in charge of payments "had never received verbal or written orders to take out gold or currency".

He added: "The gold reserves have not moved for years."

spot+20, which for me feels like a good deal.

+ 20 % or £'s?

and remind me wich spot price did you 'purchase' on.?

It looks like only you and i 'purchased physical last week.

I 'purchased ' a 10 oz bar Perth mint australian.

Experience has taught me:

When, after a big rally, you see widespread forecasts of a further doubling, it is usually time to be OUT of the market.

 

Haven't you guys learned anything from the Piper's silly $1650 forecast?

These guys are chronic bulls, and they do not own magic crystal balls.

And chances are, they benefit somehow when they can entices crowds into buying Gold.

There experience had given most of the aforementioned forecasters to make their predictions years ago in the case of JS 10 years.

That was before way before i mean before anyone had seen or had an inclinination that a rally of any size had started.

I CALL THAT REAL EXPERIENCE!!!!

Bought some more physical today.

Good deal on some 1/4 Oz coins, paid for in cash, of course.

Good deal?

what price per ounce chris.?

The point is that 3000 is the lowest price of all 6 of those people. And 3000 seems very unlikely. I cant tell you what the price of gold is going to be at the end of 2011. But why is it going to more than double from now?

 

What are you expecting to see happen that is not already in the price?

I cant tell you what the price of gold is going to be at the end of 2011.

Why not? surely in THE TWILIGHT ZONE you have such technology to enable you to fathom out such minor discrepencies.

I mean in this dimension at least we have the like of TELEOANALYSIS to tell everyone that taking statins is such a good idea.

Gold in GBP now punched down through the 50 dma, finishing at £872 per oz.

 

I am keen to see this correction challenge the 144 dma at £835 per oz, and 200 dma at £825.

More to do with the weakness of the dollar.

I would like to see 144/200 dma challenged but I for one wont be holding my breath or giving any odds.

'Purchased' some more physical today.

why is gold better than platinum for money?

"THERE IS NOTHING NEW UNDER THE SUN" including platinum.

http://www.platinum.matthey.com/publicatio...ry-of-platinum/

A History of Platinum

Early Occurrences

Although the modern history of platinum only begins in the 18th century, platinum has been found in objects dating from 700 BC, in particular the famous Casket of Thebes (see image). This little box is decorated with hieroglyphics in gold, silver and an alloy of the platinum group metals.

For the Spanish Conquistadors of the 16th century, platinum was a nuisance. While panning for gold in New Granada they were puzzled by some white metal nuggets which were mixed with the nuggets of gold and which were difficult to separate. The Spanish called this metal Platina, a diminutive of Plata, the Spanish word for silver. Some thought that the platinum was a sort of unripe gold, so that for many years it had no value except as a means of counterfeiting.

Scientific Developments

In the 18th century platinum was a tough challenge to European scientists trying to understand and use the metal. Their difficulties came from the very properties which make platinum suitable for so many applications, such as its high melting point and its great resistance to corrosion. The problems were compounded by the other metals of the platinum group, which were present in raw platinum in varying quantities.

In 1751, a Swedish researcher named Sheffer succeeded in melting platinum by adding arsenic to it. He also recognised platinum as a new element. In 1782, Lavoisier achieved the first true melting of platinum using oxygen, which had recently been discovered; even so, it was another 25 years before commercial quantities of platinum could be produced by this method. During this period, platinum was used for the decoration of porcelain as well as for making laboratory ware and ornaments.

In the 19th century scientific and technological progress gathered pace. During 1802, Wollaston (pictured right) and Tennant developed refining of platinum and discovered palladium, followed in 1804 by rhodium, iridium and osmium. Meanwhile Wollaston perfected a method of producing malleable platinum. Grove studied the catalytic properties of platinum and in 1842 devised the very first fuel cell using platinum electrodes.

In England, Percival Norton Johnson began work on refining the platinum group metals. He took as his apprentice in 1838 George Matthey, and this collaboration gave birth to the partnership of Johnson and Matthey in 1851. The two men perfected the techniques of separation and refining of platinum group metals and the melting and casting of pure and homogeneous ingots. Matthey went on to create the standard metre in platinum and iridium, at the request of the French Academy of Science, in 1879.

Growth in Supplies

Until 1820 Colombia was the only known source of platinum. As production began to decline, deposits were by chance discovered in the Ural mountains of Russia. These became the principal source of platinum for the next 100 years.

In Canada in 1888, platinum was discovered in the nickel-copper ores of Ontario. Between the end of the First World War and the 1950s, Canada was the world’s major source of supply. In 1924 a farmer in the Transvaal province of South Africa discovered several nuggets of platinum in a riverbed. Following this up, the geologist Hans Merensky discovered two deposits each of around 100 kilometres in length. These became known as the Bushveld Igneous Complex and its mines today provide three quarters of the world’s platinum output.

The Last 50 Years

Platinum mine production has grown continuously since the Second World War in response to the development of new applications. One of the principal new uses of platinum was in the petroleum industry, where platinum catalysts were introduced to increase the octane rating of gasoline and to manufacture important primary feedstocks for the growing plastics industry.

During the 1960s, demand for platinum in jewellery experienced a spectacular rise in Japan, appealing to the Japanese public by virtue of its purity, colour, prestige and value. Platinum jewellery later succeeded in penetrating other markets – in Germany in the 1970s, Switzerland and Italy in the 1980s and the United Kingdom, the USA and China – today the world’s biggest single market for platinum jewellery – in the 1990s.

In 1974, with its new regulations on air quality, the United States inaugurated the era of the autocatalyst, a technology which uses platinum group metals to convert the noxious gases in vehicle exhausts into harmless substances. Use of autocatalysts has spread worldwide and since its introduction has prevented over 12 billion tonnes of pollution from entering the earth’s atmosphere.

During the 1980s the rapid increase in the value of precious metals, including platinum, gave rise to the production of a variety of bars and coins, many of them collectable items, to meet demand for platinum as a physical investment product.

By the 1990s, platinum was growing in use as a medical treatment against certain forms of cancer and the same decade saw a multiplication in the uses of machined platinum alloy components (as seen right) to treat cardiac and other disease.

HTH CRUSH.

hello fitkid. he chooses to respond. i don't force him so its not really my fault if he gets tied up. if you don't mind i don't want to respect him cos hes making things up about me. I didnt ask him "why is gold money". I asked "why is gold better than platinum for money". i wasnt even asking gf, i asked another poster who choose to ignore me - thats fine. if gf ignores me i will stop responding. if he makes things up about me and threatens me and talks down to me i will respond and defend myself. as a mod he was nice to me before. as a poster hes been the most unkind person here. thank you for the way you have worded your post. you could have been like nigel w***son but you havent so thank you

Crush you question ref platinum is genuine and i was asked exactly the same question in person only yesterday.I can see you are relatively new to this topic/information so would respectfully direct you to the vast information that is contained from the beginning of this thread which once you have read and digested all of the same should answer your question fully.But like all things in life as pointed out by the very wise and learned schaubulin in the civil liberties thread your life experiences and education could lead you to determine different conclusions to the very same information seen by others.

That is life BUT REMEMBER

"THERE IS NOTHING NEW UNDER THE SUN" including platinum.

"THE MORE WE CHANGE THE MORE WE STAY THE SAME"

Anyone with any sense, yes. After what has happened in the last 3 years I fail to see how one could have any other mindset.

Nice. Are we all, in general, of an anti-establishment mindset?

Listen to one of eustice mullins last interviews and he could certainly challenge your love for our big beautiful governments.

This is part one of 18 videos just follow the links for the whole interview at the you tube page.

From: http://www.youtube.com/watch?v=ygtrlPOfDMc

I did not delete anything. So, better get your computer skills sorted (besides the use of times).

 

You asked why IS gold money.

I said because it has been for 6,000 years.

Then you said only because people have done bad things during the past 6,000 years it wouldn't mean that you personally would do so in the future.

With that statement you suddenly changed the time in question from present to future, so you made a first mistake.

The second, logical, mistake was of course that it doesn't matter at all what you in particular will do.

But I granted you the mistake and explained in laymen's term that something humanity has done for 6,000 years it won't drop that easily (even in the future), and pointed to the fact ("newspaper") that in the case of people doing bad things, it was still going on and that there was no evidence whatsoever that the doing of bad things would stop.

Then you apparently really wanted to start counting beans, by pointing out that a newspaper reports news of the (immediate) past.

This however, I pointed out, was a pretty weak argument as the newspaper is clear evidence that bad things are still going on in the world and that there is no evidence that this will stop anytime soon.

 

Your arguments make no sense.

Crush your posts are totally unproductive and are tying up the time and vast informative knowledge and opinions of one of if not the BEST poster on GEI so give GF some respect which he outsatandingly deserves and wind your neck in.PLEASE

P.S i am no fan of gf he has banned me more than any other mod on here but you cant knock the quality and content of his posts.

Link to this show was emailed earlier worth a listen.

http://radio.goldseek.com/

Featured Guests:

Dr. Ron Paul, Robert Kiyosaki, Harry S. Dent Jr., & Louis Navellier (encore)

A normal trading day on the CONmex.

Can you see it, can you see it YET.This is beyond a joke.PLEASE.!!!!!!

a news paper tells you what happened in the past. it doesnt proof what will happen in the future.

.

It's late fall and the Indians on a remote reservation in British Columbia asked their new chief if the coming winter was going to be cold or mild.

Since he was a chief in a modern society, he had never been taught the old secrets. When he looked at the sky, he couldn't tell what the winter was going to be like.

Nevertheless, to be on the safe side, he told his tribal community that the winter was indeed going to be cold and that the members of the village should collect firewood to be prepared.

But, being a practical leader, after several days, he got an idea. He went to the phone booth, called the Environment Canada National Weather Service and asked, 'Is the coming winter going to be cold?'

'It looks like this winter is going to be quite cold,' the meteorologist at the weather service responded.

So the chief went back to his people and told them to collect even more firewood in order to be prepared.

A week later, he called Environment Canada 's National Weather Service again.

'Does it still look like it is going to be a very cold winter?'

'Yes,' the man at National Weather Service again replied, 'it's going to be a very cold winter.'

The chief again went back to his people and ordered them to collect every scrap of firewood they could find.

Two weeks later, the chief called Environment Canada 's National Weather Service again. 'Are you absolutely sure that the winter is going to be very cold?'

'Absolutely,' the man replied. 'It's looking more and more like it is going to be one of the coldest winters we've ever seen.'

'How can you be so sure?' the chief asked.

The weatherman replied, 'The Indians are collecting firewood like crazy.'

Remember this whenever you get advice from a government official! OR NEWSPAPERS.!!!!

a news paper tells you what happened in the past. it doesnt proof what will happen in the future.

My Mum has been clearing out a flat of a old lady she worked for, who has now died. She has found 5 sovs with the reciept dated 1974 when they cost £31.50 each. They now cost £228.50 or 7x more.

 

Interestingly, she bought her house in 1978 for £11,150 and now she is trying to sell for £250,000 which is 22x more.

 

I think think this makes gold look very cheap still.

A real world post.

interesting comparable and i would concur emphatically.

Back over £900/t.oz!

Another high horse with wooden wheels :lol:

There is definetly a correction the only problem for most is its the wrong way.