Carlton

That's what happened in the USA. http://www.cnbc.com/id/44274402/

I am reminded that Jim Rogers has said many times that you wind up making more money owning the underlying asset. Posted for your inspection:

I still think the way Nixon announced the end of convertibility "temporarily" to "stabilize the dollar" funny. It wasn't even the first "element," but the third element.

I don't know what the crop is, but there are many options. Some people love vertical farms. continues: http://nymag.com/news/features/30020/

You mean a reversion to the old paradigm, where money was expected to have intrinsic value, and an abandonment of the this "new paradigm" that we've been living in for forty years. I think Sinclair, Rickards and Forbes have some good ideas, foreseeing a linkage between gold and the reserve currency in the next 3-5 years.

There's always urban farming.

I've always liked Thompson's no nonsense writing style. http://news.goldseek.com/GoldSeek/1314117196.php

Do you have a downside target? Hamilton was suggesting $1465, the 200dma.

He says global gold reserves, but what he's talking about is all gold ever mined not official reserves. 165,000 tonnes x $60.8 mln = $10.0 trillion However, the US official reserves are 8133 x $60.8 mln = $494 bln America's foreign held debt as of June 2011 was $4499 bln, so gold is currently providing about 10% cover. $4,499,000 mln / 260 mln ozt. = $17,303 (Jim Sinclair's equilibrium price) 100% cover is not necessary. One-third cover would be $5762. I think that remains a realistic target in light of the (official or unofficial) remonitization of gold. However, Waddle's problem is that he doesn't view gold as money. If gold isn't money then maybe he's right.

http://www.cnbc.com/id/44237225

Party over? (for a while) $1875.90.

Possibilities like this form one of the best reasons to own mining stocks. I don't expect gold confiscation, but if it happened at least one would have one's miners. (Hopefully the miners are operating in safe jurisdictions.)

Yeah, the latest median was $171,900, so the ratio is at 91.5. That looks like a time to buy. However, there is still a glut of foreclosures, the Republicans may get some of their austerity wishes, which will be negative for home prices, and a recovery in employment seems to be non-existent for the time being. Meanwhile, failing confidence should push gold higher in the medium/long term. And there is this: http://money.cnn.com/2011/08/16/real_estate/buy_rent/index.htm There are good reasons to buy, but also good reason why the ratio may go lower. My bias is towards waiting. I enjoy being fleet of foot and want to absolutely avoid getting trapped in illiquid property. Is a man's home his castle or prison?

People's Daily: http://www.cnbc.com/id/44223534

Jake, I'm hoping for that pullback also. I've decided to add the Sprott Trust (if I can get it with a reasonable premium) to the physical I have in-hand. If gold is still up when the Western markets open I think this may be a good put buying opportunity.

Many of the poorly performing stocks have had significant dilution. With some of these stocks the market cap goes up while the shares don't (as much).

Looking at the chart and at Alf Field, I'm inclined to think we're still in 3 of 3, not 5 of 3. Banister is showing an almost non-existent 4 of 3. Though, all the talk of gold has me nervous, and these past few days feel like too much too soon. I'll add, however, that Ben Davies on KWN recently stated that though sentiment for gold is high, participation is narrow; people talk about gold, they don't own it. Respectfully, I think you're seeing what you want to see: austerity, austerity, austerity. We're Americans. We're used to getting what we want: a big house in the suburbs, an SUV, low taxes, and good government services. There is no majority in both chambers of Congress to either raise taxes or cut spending substantially. The spending will continue and the low taxes will continue, at least through the end of 2012. Approval ratings for the House of Representatives are at historic lows; while Pres. Obama's approval numbers aren't great but (with reference to history) they may allow him to be reelected. A Democratic sweep in 2012 is quite possible.

No, its hardly irrelevant. The young person may be deciding between putting their fiat into gold or into something else; looking at the ratio can help them make the decision. The gold:home ratio is one indicator. Its not the only market indicator to watch when buying or selling gold or property; and it certainly shouldn't be used to dictate when you buy a personal primary residence. However, it would significantly guide my decisions about buying investment property.

Sinclair, a few days ago: 3. The key number in the gold market is $1,764.

This makes sense. However, if you think of gold more as a currency than as a mere hedge it seems logical to own relatively more of it, no? Yes, I am tempted and will probably pull the trigger on RE within 12 months. Although, I am facing some psychological impediments to homeownership: feeling married to the local (tax) jurisdiction, and feeling married to my job. The job is good, but I'm a wandering "global citizen" at heart. We are lucky/cursed that many homes can still be purchased with 3.5% down payments. You could look at this and say that down payments haven't gone up yet, so home prices may still fall. But in our case we've had these low down payment options, FHA loans and Homepath loans, for decades, before the housing bull and now after it. I'm inclined to think we are near the bottom in home prices. They could spike down to 70 or 50 ounces but anything more is getting into rare/unprecedented territory.

My father asked me yesterday if I owned gold. I didn't mention the physical but said I had done okay with gold and silver shares. He's always watched the markets but considered au/ag bugs a bit odd. When he's asking me about au I have to wonder if phase three is here for real. I hope Sinclair is right when he says there will be no 1980 style collapse.

Faber: Lassonde: Yamada: All from Kingworldnews.com

Re: LauraB's quote: Monetary chaos is not the answer, accounting and fair taxation would be difficult if not impossible under such a scenario. I still prefer goverment-issued or intergovernmentally-issued currency; however, there need to be strong safeguards ensuring monetary stability.

Gold looks well poised for highs, according to this sound article: http://www.kitco.com/ind/Trendsman/jul112011.html COT short positions, open interest, public sentiment, and Wall street sentiment indicate a bullish bias.

Bot HL today; will look for an opportunity for more.