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Gold may be breaking out of the $1120 level today. US Dollar Index looking a bit toppish so there may be a few good weeks left for gold before the doldrums period.

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Assets will deflate (eventually), this was always going to happen. Property has to be brought back within reach of people's salaries. However property and other assets are likely to rise in the short/medium term, as the UK is increasingly likely (irrespective of political party) to QE to infinity, then comes the big bang and the deflation/austerity/reality begins... Much like the CEO that buys his company's shares when the price dips, the BOE are buying our own Guilts, this is a false economy but it can go on for quite some time.

 

Pretcher's failure is he thinks gold is just another asset. To understand gold and it's current role, you MUST think of it as a currency.

 

The problem with gold is double accounting, but I think you probably know this. Production costs only serve to set a floor in the price, supply and demand do the rest, especially when there isn't as much supply as we're lead to believe...

 

I am more interested in discussing what is likely to happen than attacking some side just for the sake of it.

If Precher turns out to be right people who bought gold with mortgage debt will be poorer or ruined. I am assuing he will not be right, but it is still interesting to try and understand why he has created the beliefs he has. One thing is for sure as time goes on the man gets a bit more credibility from people like me who only thought inflation was coming.

 

Meanwhile it appears true that gold can be mined at a fraction of the current price and there is many years of supply already above ground as i understand it. Gold will probably carry on rising in price for maybe some years yet before those simple economics alter the price much. And those economics dont go away because some guy on the internet thinks i am a troll or whatever gets thrown at me by people who appear to have some vested interest in ramping gold

 

 

 

 

 

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Assets will deflate (eventually), this was always going to happen. Property has to be brought back within reach of people's salaries. However property and other assets are likely to rise in the short/medium term, as the UK is increasingly likely (irrespective of political party) to QE to infinity, then comes the big bang and the deflation/austerity/reality begins... Much like the CEO that buys his company's shares when the price dips, the BOE are buying our own Guilts, this is a false economy but it can go on for quite some time.

 

Pretcher's failure is he thinks gold is just another asset. To understand gold and it's current role, you MUST think of it as a currency.

 

The problem with gold is double accounting, but I think you probably know this. Production costs only serve to set a floor in the price, supply and demand do the rest, especially when there isn't as much supply as we're lead to believe...

 

I dont see why it has to be QE to infinity when only the required amount of QE will be sufficient, and buying your own shares when the price falls can be a pretty sound practice as you can either buy the company back or sell the shares profitably.

 

Ultimately we dont know if it will be an inflationary recession or something else. I am assuming it will be inflationary with glitches along the way.

 

I dont buy gold as being currency. It is no more currency than platinum, scrap iron, cigarettes, diamonds, tinned food or shot gun cartridges. If somebody says you MUST believe i just think what i think about that.

 

As for gold double accounting it must be possible but i have no idea if that kind of thing is true or just mythology. It seems also that you MUST believe this to be amongst the faithful.

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I dont buy gold as being currency. It is no more currency than platinum, scrap iron, cigarettes, diamonds, tinned food or shot gun cartridges. If somebody says you MUST believe i just think what i think about that.

 

As for gold double accounting it must be possible but i have no idea if that kind of thing is true or just mythology. It seems also that you MUST believe this to be amongst the faithful.

 

 

Out of every 100 people in the world, there will be 10 who will believe shot gun cartridges are currency, 10 would say diamonds, 5 would trade cigarettes as currency, but by far there will be at least 50 who will believe that gold is the currency of choice. You might not be among those 50, so it does not matter what you think. The majority think it is, so it is. Presently the Sterling is considered the currency, how long before it wont be, is anybodies guess.

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Out of every 100 people in the world, there will be 10 who will believe shot gun cartridges are currency, 10 would say diamonds, 5 would trade cigarettes as currency

I think you are being a bit generous there. I don't know of any people who are stupid enough to think shot gun cartridges are currency or cigarettes, tinned food or scrap iron never mind 10%.

 

I hope it keeps fine for you, AAK, believing what you think. Who do you trade these currencies with?

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I think you are being a bit generous there. I don't know of any people who are stupid enough to think shot gun cartridges are currency or cigarettes, tinned food or scrap iron never mind 10%.

 

I hope it keeps fine for you, AAK, believing what you think. Who do you trade these currencies with?

 

You are mixing me with the tooth doctor. You must know that tobacco was the currency of some of the US states a while back and you must know that cigarettes are currency in prisons. Currency is the means of exchange. Gold is not used much as the means of exchange although it could be. If social disorder is widespread shot gun cartridges will be in demand because people will be using them up and people will know that a shot gun cartridge can be easily used to buy something. Similarly when you are hungry and know others are hungry a tin of food can be used to buy things. Scrap iron might not be so easily tradeable i agree unless you run out of material for knives and iron becomes scare - which is quite possible if society as we know it ends. When the egyptians were building some of their pyramids and the Hitites had discovered how to make iron their iron was more valueable than gold. Can you or any of your friends make iron? Imporantly unless you make a hardened iron you cannot have a useful weapon so if you can get steel it will be more easily used as currency.

 

Unless something is useful it cannot be used as a currency. More or less anything can be used for a currency.

 

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China, Russia, Venezuela and India firmly believe in the qualities of gold even if you don't. Assuming TSHTF and once people have cigarettes, shot gun shells, silver coins or X for their daily trading, where would you recommend they put their remaining wealth?

 

You are mixing me with the tooth doctor. You must know that tobacco was the currency of some of the US states a while back and you must know that cigarettes are currency in prisons. Currency is the means of exchange. Gold is not used much as the means of exchange although it could be. If social disorder is widespread shot gun cartridges will be in demand because people will be using them up and people will know that a shot gun cartridge can be easily used to buy something. Similarly when you are hungry and know others are hungry a tin of food can be used to buy things. Scrap iron might not be so easily tradeable i agree unless you run out of material for knives and iron becomes scare - which is quite possible if society as we know it ends. When the egyptians were building some of their pyramids and the Hitites had discovered how to make iron their iron was more valueable than gold. Can you or any of your friends make iron? Imporantly unless you make a hardened iron you cannot have a useful weapon so if you can get steel it will be more easily used as currency.

 

Unless something is useful it cannot be used as a currency. More or less anything can be used for a currency.

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AAK. Ok you are talking about barter. You stock up on shot gun cartridges, tuna fish, scrap iron and sea shells, I will stock up on things I deem useful to me. Each to their own.

 

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I have Tuna to trade for shotgun shells but Shotgun Tony does not need Tuna - he needs some cigarettes - but Cigarette Cyril has plenty of shotgun shells - he needs a drink of whisky - and so on.

 

Gold and silver have been used to solve this problem for thousands of years. It's simple!

 

Some people seem to spend an inordinate amount of time on the Internet trying to persuade other people not to own gold and silver. What a curious thing.

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AAK. Ok you are talking about barter. You stock up on shot gun cartridges, tuna fish, scrap iron and sea shells, I will stock up on things I deem useful to me. Each to their own.

 

So when it all turns to custurd you will consult your internet lcd screen to get the price of gold?? and all the items you want to buy will have marked prices????

 

You wont have to barter with your gold for food?

 

:lol:

 

Or maybe Schaublin thinks the State will arrive to declare that gold is fiat and all prices must be set relative to gold?

 

the funny thing is that you guys think i am the idiot

 

:lol:

 

the fact is food for a killer or a shotgun cartridge gets all of your gold unless you have some kind of protection organised

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AAK. Ok you are talking about barter. You stock up on shot gun cartridges, tuna fish, scrap iron and sea shells, I will stock up on things I deem useful to me. Each to their own.

My gold is for AFTER the crisis. It is a store of wealth which, unlike shotgun cartridges or cigarettes will not decay. It is immutable and has been around since it was formed in a distant sun.

 

Gold is not for spending during a crisis; it is a store of wealth enabling those who own it to pick up the pieces after the storm has passed. You can spend / swap/ barter your ciggies and whisky to survive - frankly you do what you have to, but the gold- that's for AFTER.

 

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My gold is for AFTER the crisis. It is a store of wealth which, unlike shotgun cartridges or cigarettes will not decay. It is immutable and has been around since it was formed in a distant sun.

 

Gold is not for spending during a crisis; it is a store of wealth enabling those who own it to pick up the pieces after the storm has passed. You can spend / swap/ barter your ciggies and whisky to survive - frankly you do what you have to, but the gold- that's for AFTER.

 

Funny that you imagine you are anonymous when you are blabbering about your gold on the internet and anybody with the necessary authorities can hunt you down and know quite a bit about you

 

Probably even some teenage masturbator already knows where you live and where the gold is

 

:lol:

 

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Funny that you imagine you are anonymous when you are blabbering about your gold on the internet and anybody with the necessary authorities can hunt you down and know quite a bit about you

 

Probably even some teenage masturbator already knows where you live and where the gold is

 

You are an obvious troll by the way - you give no facts and add little to the discussion by this line of reasoning. I point this out as I am usually a silent reader and I have little to contribute compared to most on this forum, however I would prefer the quality of the posts to remain high so I don't plod through the useless ego trips.

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You are also assuming a really, really serious mad max scenario where a shotgun will be required to survive as the only outcome. If things do get that bad I will buy a shotgun with some of my gold which having gone up in that time I may add a small anti-tank gun as well free of charge. However, I am really not expecting things get that bad. Also how does the killer know where my gold is?

 

When you surface to buy things people will know you have gold. So you might have to buy a helicopter to prevent them following you back from the shops. A helicopter will require a heap of spares and fuel that does not lose its octane rating with time as the more volatile components degrade as the fuel goes stale. Regular petrol goes stale after about one year when kept in a sealed container which means it becomes difficult to start your motor bike or chain saw at that time.

 

Come on guys! You need to get out of the comic books and computer games and enter the real world!

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You are an obvious troll by the way - you give no facts and add little to the discussion by this line of reasoning.

 

Utter bollocks. No facts??

 

Barrick mined gold for a cash price of well under 500 us an ounze in 2007 or was it 2008?

 

Jim rogers says that gold is difficult because the price often is far away from the fundamentals

 

But hey! facts are irrelevant

 

All you want is to believe.

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Utter bollocks. No facts??

 

Barrick mined gold for a cash price of well under 500 us an ounze in 2007 or was it 2008?

 

Jim rogers says that gold is difficult because the price often is far away from the fundamentals

 

But hey! facts are irrelevant

 

All you want is to believe.

 

What if deflation leads to Hyper -inflation the production costs could go to $5000.00 an ounce, would paper or cartridges keep up?

 

 

Regards

 

ML.

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This is officially the end for Swiss banking secrecy, only the Swiss lower house can preserve the status quo, I think.

 

By the way, AL&K, I ventured to look at your response to me (just ventured to view a single post from you, as I have you routinely blocked!) and found it ignorant, arrogant and repulsive. I reported it. You are a troll. I will NEVER look at a post of yours again. I sincerely hope you are chucked off this board.

 

Swiss upper house approves five bank data deals

17 Mar 2010 - 22:03

* Agreements with U.S., France, UK, Denmark, Mexico approved

* Double tax deals do not apply in cases of stolen data

By Catherine Bosley

 

ZURICH, March 17 (Reuters) - The Swiss parliament's upper house on Wednesday approved deals with the United States and four other countries to share data on potential tax dodgers, bringing the Alpine state closer in line with international standards.

 

Under the deals Switzerland will have banking data sharing arrangements with France, Britain, the United States, Denmark and Mexico in cases of tax fraud and tax evasion**, in accordance with OECD standards, except when those requests are based on stolen data.

 

Under pressure from the G20, Switzerland, the world's biggest offshore banking centre, agreed a year ago to relax its prized bank secrecy and agreed for the first time to share certain bank client data with other jurisdictions, once bilateral tax treaties are ratified.

 

Switzerland's relations with both France and Germany have been strained in recent months after both countries obtained stolen information on possible tax dodgers with Swiss bank accounts.

 

"We won't give administrative assistance if stolen data is presented. That's our sovereign right," finance minister Hans-Rudolf Merz told television show Classe Politique.

 

"France has stolen data," he said. "If we get a request for administrative assistance from France, we're not honouring it."

 

All five agreements have been signed bilaterally but still have to be passed by parliament's lower house, where the right-wing SVP, which has said it opposes them, has the most seats.

 

The government has already said it could put a tax agreement up for a referendum.

 

Switzerland had to sign 12 bilateral deals to be removed from an Organisation for Economic Co-operation and Development (OECD) "grey list" of tax havens.

 

France obtained data on some clients of HSBC 's private bank in Geneva, while the German government has said it would pay for a CD of stolen Swiss bank data believed to be rich in detail about undeclared holdings

 

 

** Tax evasion is NOT a crime in Swissland. This used to be why it was special.

 

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My gold is for AFTER the crisis. It is a store of wealth which, unlike shotgun cartridges or cigarettes will not decay. It is immutable and has been around since it was formed in a distant sun.

 

Gold is not for spending during a crisis; it is a store of wealth enabling those who own it to pick up the pieces after the storm has passed. You can spend / swap/ barter your ciggies and whisky to survive - frankly you do what you have to, but the gold- that's for AFTER.

I largely agree with you Chris, which is why I said 'I will stock up on things I deem useful to me'. I did not mean to imply I will be happily bartering my gold during a crisis. I have other barriers to crash through before I get to the bottom of my pyramid. AAK just seems to think that gold is as useless/useful as shotgun cartridges or spam. His line is classic of the person who has no gold and wants to deny it its role throughout history because he doesn't understand it.

 

Having said that I may use my gold or some of it in order to be better prepared before the crisis sets in. I think I understand the reasons for gold, its limitations, and the use it allows to make the decisions one makes possible. I am more than certain that it will have been a better investment than shot gun cartridges or spam...which is where AAK's thinking lies.

 

This is a ridiculous topic and I am not wasting more time getting entangled with AAK again. I would urge him to find himself a better understanding of the role of gold and waste no time in recommending him to some economic historians for advice. Or he can pop down to the supermarket and ammo store for some of his preferred investments. I dont eat spam and tire of reading it also...

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By the way, AL&K, I ventured to look at your response to me (just ventured to view a single post from you, as I have you routinely blocked!) and found it ignorant, arrogant and repulsive. I reported it. You are a troll. I will NEVER look at a post of yours again. I sincerely hope you are chucked off this board.

 

+1

 

Never used the Ignore User function before, until today...

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Utter bollocks. No facts??

 

Barrick mined gold for a cash price of well under 500 us an ounze in 2007 or was it 2008?

 

Jim rogers says that gold is difficult because the price often is far away from the fundamentals

 

But hey! facts are irrelevant

 

All you want is to believe.

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+1

 

Never used the Ignore User function before, until today...

 

He's one of the reasons many of us have now left (which was a shame at the time).

 

Schaublin hit the nail on the head earlier "Some people seem to spend an inordinate amount of time on the Internet trying to persuade other people not to own gold and silver. What a curious thing." I've scratched my head over that one for some time. It also happens over on kitco (on the rare occasion I have a browse). Why the hell do people waste their time, mmmm?

 

It's funny how you can constantly act the tw@ or destroy a thread/website, but as soon as you give your opinion of someone or resort to some mild language you get suspended.

 

It's thanks to Pix we now have somewhere to go without having put up with the BS.

 

 

 

 

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Thanks to A&K i've had a moment of clarity...!

 

GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...GOLD IS FOR LOSERS...

 

Again a stupid post from somebody who refuses to allow a person to discuss a point of view like for example Prechters or Jim rogers one.

 

And apparently some other people here are so immature that they are unable to be present with adults without self distructing in embarrassment

 

 

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You can't talk about "teen masturbators" on this thread, then accuse me of stupid posts... You can't have it both ways!

 

I've been very polite and I've thought about your points, but you're argument lacks any credibility. These issues were discussed @GEI 2+ years ago, they were answered to everyone's satisfaction, we moved on. Most are here to pick up gold news and in the longer term discuss exit strategies, they're not here to work out if gold is right for them, they've already made that decision, you're too late to dissuade them!

 

I think everyone would appreciate you starting your own anti-gold thread, rather than destroying this one. <cue... methinkshe stating they still haven't bought gold yet and likes the balanced discussion...>

 

Again a stupid post from somebody who refuses to allow a person to discuss a point of view like for example Prechters or Jim rogers one.

 

And apparently some other people here are so immature that they are unable to be present with adults without self distructing in embarrassment

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My gold is for AFTER the crisis. It is a store of wealth which, unlike shotgun cartridges or cigarettes will not decay. It is immutable and has been around since it was formed in a distant sun.

 

Gold is not for spending during a crisis; it is a store of wealth enabling those who own it to pick up the pieces after the storm has passed. You can spend / swap/ barter your ciggies and whisky to survive - frankly you do what you have to, but the gold- that's for AFTER.

This is close to my view of the case for gold in the nightmare scenario, but I'd add that it allows a large amount of wealth to be easily transported. If you decide you have to get out of Dodge in a hurry then what would you want to take with you? A shotgun and cartridges would be near the top of the list, but gold would be way ahead of barter currencies such as bottles of whiskey and aspirin. When you get where you're going then you can swap a sovereign for 10 bottles of whiskey at current rates, and people will know you have gold. They'll also know you have whiskey!

 

 

AAK's posts on this subject do not make me want to ignore him.

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