Errol Posted January 10, 2011 Report Share Posted January 10, 2011 why is gold better than platinum for money? Platinum is too rare for starters. It is also not as shiny or as attractive. Link to comment Share on other sites More sharing options...
Errol Posted January 10, 2011 Report Share Posted January 10, 2011 India Offers To Pay For Iran Oil With Gold It appears that gold's isn't really a currency... until it is. The Economic Times reports that India is attempting to ensure steady crude oil supplies from Iran. In doing so it is doing everything it can to pay Iran in a way that avoid loopholes associated with recent US sanctions. And the stunner: "India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue." http://www.zerohedge.com/article/india-off...y-iran-oil-gold Link to comment Share on other sites More sharing options...
d2thdr Posted January 10, 2011 Report Share Posted January 10, 2011 India Offers To Pay For Iran Oil With Gold It appears that gold's isn't really a currency... until it is. The Economic Times reports that India is attempting to ensure steady crude oil supplies from Iran. In doing so it is doing everything it can to pay Iran in a way that avoid loopholes associated with recent US sanctions. And the stunner: "India could settle crude oil import transaction using gold in the short term, while efforts to resolve the deadlock continue." http://www.zerohedge.com/article/india-off...y-iran-oil-gold Thats Big. Everyone knows where we have been. Let's see where we are going! It was once said that "gold and oil can never flow in the same direction" Its coming. Its here. Almost. Link to comment Share on other sites More sharing options...
Schaublin Posted January 10, 2011 Report Share Posted January 10, 2011 Jon Nadler doing his job: Thus, it must be assumed and, it might be later concluded, that a fair amount of gold came out of recently enriched spec fund hands as they reduced bullion allocations and perhaps opted to augment their exposure to equities instead. The small investor, of course, remains befuddled that the implosion and death of fiat currencies, the end European Union, or the unraveling of the USA has not come to pass. Such investors were recently 'pressured' into loading up on perhaps much more of the safe-haven metal than would be prudent according to portfolio allocation models such as those espoused by, say, the World Gold Council's long-term studies. He does raise a titter with me! http://www.ibtimes.com/articles/98651/2011...nd-keep-it.htm# Link to comment Share on other sites More sharing options...
Carlton Posted January 11, 2011 Report Share Posted January 11, 2011 At previous peaks there was a good chance or at least the belief governments would be forced back on to the gold standard. I really cannot see it happening. A government on a gold standard can always abandon that policy whenever it wants so gold standards and inflation targeting are essentially similar. And 40 years ago there were not the same possibilities for investing that are available today for sophisticated investors and mums and dads and amateurs etc. People concerned about the price of gold today can move to something likely to give them what they think is a better return with less anxiety as they see the situation. Governments can hold uranium or just about anything else they think is a good store of value if they want to hold commodities. Gold money is not coming back unless our current culture is replaced by something a bit more primitive. So looking at historic levels of investing in gold is not likely to give you much of an idea about what is relevant now. The fact that a top value credit card is a platinum card and just about anybody has a gold card reflects this simple reality. Anyway for the time being gold looks like it is going lower again. As has been explained previously on this website any many others, there are particular reasons why gold is the best form of hard money rather than other commodities. It's durable, fungible, divisible, has a convenient form factor, and is not consumed very much (therefore gold is dramatically less subject to transient supply/demand changes and does a better job at stabilizing the price level). Link to comment Share on other sites More sharing options...
electroweak Posted January 11, 2011 Report Share Posted January 11, 2011 As has been explained previously on this website any many others, there are particular reasons why gold is the best form of hard money rather than other commodities. It's durable, fungible, divisible, has a convenient form factor, and is not consumed very much (therefore gold is dramatically less subject to transient supply/demand changes and does a better job at stabilizing the price level). been through it.. don't even bother mate. Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 why is gold better than platinum for money? The free market has decided so during the past 6,000 years. Link to comment Share on other sites More sharing options...
Icarus Posted January 11, 2011 Report Share Posted January 11, 2011 Jon Nadler doing his job: Thus, it must be assumed and, it might be later concluded, that a fair amount of gold came out of recently enriched spec fund hands as they reduced bullion allocations and perhaps opted to augment their exposure to equities instead. The small investor, of course, remains befuddled that the implosion and death of fiat currencies, the end European Union, or the unraveling of the USA has not come to pass. Such investors were recently 'pressured' into loading up on perhaps much more of the safe-haven metal than would be prudent according to portfolio allocation models such as those espoused by, say, the World Gold Council's long-term studies. He does raise a titter with me! http://www.ibtimes.com/articles/98651/2011...nd-keep-it.htm# Yeah, me too. Central banks around the globe are printing money by the truckload. Governments have huge unpayable deficits. There is around a hundred times as much 'paper gold' as actual metal. Interest rates are at 0%. But if you suggest that people buying a little gold they act like your trying to trick them! And now that the price has risen a little they tell me it's in a bubble Link to comment Share on other sites More sharing options...
Pixel8r Posted January 11, 2011 Report Share Posted January 11, 2011 CNBC video interview on link. 'Not Owning Gold is a Form of Insanity': Chartist Published: Monday, 10 Jan 2011 | By: CNBC.com Gold will eventually rally exponentially and investors who don't own the precious metal are "insane," and may be showing "masochistic tendencies," Robin Griffiths, technical strategist at Cazenove Capital, told CNBC. "I think not owning gold is a form of insanity, it may even show unhealthy masochistic tendencies, which might need medical attention," Griffiths said. Gold, along with other metals such as copper, has been making new all time highs, which is a strong buying signal, according to Griffiths. "Although it's been a top performer for each of the last ten years, it's still in a linear trend. Eventually it will go exponential and make more in the last little bit than the whole of the ten year trend," he said... Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 Eventually it will go exponential and make more in the last little bit than the whole of the ten year trend," he said ... Yes, this could happen. Link to comment Share on other sites More sharing options...
goldcore Posted January 11, 2011 Report Share Posted January 11, 2011 Hi everyone, We just signed up today, and the discussion is interesting. We've just produced a viral video on gold, and I'd like to invite all users to view, and give you feedback here. The video link is: Hopefully you enjoy the video. And I apologise in advance for shamelessly plugging the video: however we are very proud of the work and the coverage it's receiving. Mark Link to comment Share on other sites More sharing options...
warpig Posted January 11, 2011 Report Share Posted January 11, 2011 Nice website, very professional and I like the price of your gold coins, cheaper than CID for the 1oz Buffalo I checked (diff. £16). Hi everyone, We just signed up today, and the discussion is interesting. We've just produced a viral video on gold, and I'd like to invite all users to view, and give you feedback here. The video link is: Hopefully you enjoy the video. And I apologise in advance for shamelessly plugging the video: however we are very proud of the work and the coverage it's receiving. Mark Link to comment Share on other sites More sharing options...
goldcore Posted January 11, 2011 Report Share Posted January 11, 2011 Nice website, very professional and I like the price of your gold coins, cheaper than CID for the 1oz Buffalo I checked (diff. £16). thanks warpig We almost decided against posting the link: but felt compelled as this particular forum generates a lot of interest/traffic/opinion on gold-related news. Mark Link to comment Share on other sites More sharing options...
warpig Posted January 11, 2011 Report Share Posted January 11, 2011 This thread/members originated on another forum, so a lot of the discussions about gold have been going on for a long time and the basics/benefits of gold were covered many years ago. We're all just waiting for the fireworks to kick off now... What are your expectations for gold/silver this year? thanks warpig We almost decided against posting the link: but felt compelled as this particular forum generates a lot of interest/traffic/opinion on gold-related news. Mark Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 Spotted on JSMineset: DJ Physical Gold Demand Exceeds Current Availability -Perth Mint Tue Jan 11 01:26:37 2011 EST SINGAPORE (Dow Jones)–Demand for gold bullion from Australia’s Perth Mint has been unrelenting since gold’s price dropped below $1,400 an ounce, a senior Mint official said Tuesday. "At the moment demand is such that we cannot meet all the enquiries that we are getting," said Nigel Moffatt, Treasurer of the Perth Mint, one of the world’s largest gold refiners and distributors. "Demand for our coins and medallions is strong, but the biggest demand is coming from banks and traders looking for kilo bars," he told Dow Jones Newswires. The price action over the last week confirms this. Gold may soon correct upwards. Link to comment Share on other sites More sharing options...
goldcore Posted January 11, 2011 Report Share Posted January 11, 2011 This thread/members originated on another forum, so a lot of the discussions about gold have been going on for a long time and the basics/benefits of gold were covered many years ago. We're all just waiting for the fireworks to kick off now... What are your expectations for gold/silver this year? Rather than summarising, our outlook for 2011 is covered in a blog post we made on New Years eve: http://www.goldcore.com/goldcore_blog/gold...nd-outlook-2011 Link to comment Share on other sites More sharing options...
LauraB Posted January 11, 2011 Report Share Posted January 11, 2011 There are over 100 gold predictions at http://www.marketoracle.co.uk/Article25498.html Though I think someone has missed a zero? - $3000/oz is not parabolic! Link to comment Share on other sites More sharing options...
crushtherents Posted January 11, 2011 Report Share Posted January 11, 2011 The free market has decided so during the past 6,000 years. thats a poor reason. people have been raping and killing for more than 6000 years. just because people have done it isnt a reason to do more of it. Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 thats a poor reason. people have been raping and killing for more than 6000 years. just because people have done it isnt a reason to do more of it. That's a poor argumentation. That people have been raping and killing for more than 6,000 years simply means that they will continue to do so, no matter what you personally do. Proof: Open a newspaper. Q.E.D. Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 http://gold.approximity.com/gold-silver_watch.html Link to comment Share on other sites More sharing options...
crushtherents Posted January 11, 2011 Report Share Posted January 11, 2011 That's a poor argumentation. That people have been raping and killing for more than 6,000 years simply means that they will continue to do so, no matter what you personally do. Proof: Open a newspaper. Q.E.D. a news paper tells you what happened in the past. it doesnt proof what will happen in the future. Link to comment Share on other sites More sharing options...
warpig Posted January 11, 2011 Report Share Posted January 11, 2011 Thanks Mark! I've started to read it and it seems like we have a common outlook. I look forward to digesting the rest of it tonight. Rather than summarising, our outlook for 2011 is covered in a blog post we made on New Years eve: http://www.goldcore.com/goldcore_blog/gold...nd-outlook-2011 Link to comment Share on other sites More sharing options...
duckwomanloulou Posted January 11, 2011 Report Share Posted January 11, 2011 thanks warpig We almost decided against posting the link: but felt compelled as this particular forum generates a lot of interest/traffic/opinion on gold-related news. Mark Nice video - very slick looking. Already a customer so no complaints from me! Link to comment Share on other sites More sharing options...
G0ldfinger Posted January 11, 2011 Author Report Share Posted January 11, 2011 a news paper tells you what happened in the past. it doesnt proof what will happen in the future. On a time horizon of 6,000 years, a newspaper tells you about the present. Link to comment Share on other sites More sharing options...
fitkid Posted January 11, 2011 Report Share Posted January 11, 2011 a news paper tells you what happened in the past. it doesnt proof what will happen in the future. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now