qwerty Posted November 1, 2008 Report Share Posted November 1, 2008 So only a small amount of Germans 5% converting their money into gold cleaned out the supplies ! http://www.iht.com/articles/2008/10/26/bus...bury.php?page=1 (takes a while to load!) Even more striking,[/b] a sudden surge in the demand for gold has led several Internet sites and gold vendors to temporarily shut down their sales operatios. "I've never seen anything like this. We're basically sold out until the end of the year," said Robert Hartmann, co-founder of ProAurum, a gold vendor based in Munich. Despite the Ishortages, about 200 customers line up at his counter every day, he said, asking for coins and bars, not certificates. According to his estimates, "only about 5 percent of I German investors" are interested in converting a small part of their savings to gold "but it's enough to put suppliers under strain." Heinz, the financial adviser, started diversifying his investments in the run-up to the 1992 recession. He has bought land and gradually built up a stock of gold, which he buys in small units suitable as emergency payment and keeps in a safe in a specialized company. He still remembers the stories his grandfather told of a suitcase full of bank notes buying no more than a loaf of bread during hyperinflation in 1923 Germany. He also remembers the currency changes of 1948 that again wiped out savings. Some of his clients share his fears.n t’s gold rush, even at premium http://timesofindia.indiatimes.com/Cities/...how/3641561.cms NAGPUR: The global slowdown brought a Dhanteras bonanza for Indian consumers. Gold prices crashed right amidst the festive season and consumers rushed to make Dhanteras purchases. So heavy has been the demand that in Nagpur gold was being quoted at a premium of Rs 400 against its basic market rate of Rs 12,000 per tola (10 grams) on Saturday. Traders say the situation will continue on Sunday too. World Gold Council claimed that 50 tonnes of gold was sold in the last 20 days in the country. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 1, 2008 Author Report Share Posted November 1, 2008 So only 5% of Germans cleaned out the supplies ! He writes "a small part" of the savings of 5% of all Germans. IMO, if 1% of all German savings was to go into gold it would propel the price to $10,000/oz overnight, with a tendency to drift upwards from then on. VW kinda thing. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 1, 2008 Report Share Posted November 1, 2008 Why does the gold thread get moved every month? I have referred a few people here but they cannot find the previous threads? Over on the darkside HPC the original gold thread Goldfinger,Pluto,Cgano etc is still running why not here? Quark, I've had a think about your post. The advantage of having a monthly thread is that it's much easier to look at what was going on in a particular month. That must be quite difficult with one 2 year thread So, although there are disadvantages, I can see the benefit. So, how to address your issue ? I've found all the previous gold threads and put them at the top of my notable threads thread. So if you direct people there, they will be able to find them all straight away, and that has the advantage that they can easily find the "best of the forum". I hope that helps. A Collection of Basic Guides & Notable Threads, Gold, Silver, Coins, Polls - To save you searching http://www.greenenergyinvestors.com/index.php?showtopic=3784 Link to comment Share on other sites More sharing options...
ologhai Posted November 1, 2008 Report Share Posted November 1, 2008 I'm curious to know what the procedure is with the old threads. Are they just unpinned, but remain in Main Discussion to sink over time? Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 1, 2008 Report Share Posted November 1, 2008 I'm curious to know what the procedure is with the old threads. Are they just unpinned, but remain in Main Discussion to sink over time? After a while I unpin them. I leave the last one pinned for a while so people can still get straight to it if they wish. Link to comment Share on other sites More sharing options...
ologhai Posted November 1, 2008 Report Share Posted November 1, 2008 After a while I unpin them. I leave the last one pinned for a while so people can still get straight to it if they wish. Right. So all of the old monthly gold threads are in Main Discussion, but they just sink because no one posts to them. I don't really know what I thought was happening to them (not that I lost any sleep ), but I kind of thought that perhaps they were moved to the Mining and Precious Metals forum or something... Or maybe that they were chiselled into tablets of stone so that, in future aeons, they could form the basis of a world religion, and a new branch of study (called Thauology or something) could spring up to discuss and argue the finer interpretation of what the Profits Hath Said in The Gold One... erg... *takes special medicine* I'm fine now. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 1, 2008 Report Share Posted November 1, 2008 Or maybe that they were chiselled into tablets of stone so that, in future aeons, they could form the basis of a world religion, and a new branch of study (called Thauology or something) could spring up to discuss and argue the finer interpretation of what the Profits Hath Said in The Gold One... erg... Hmmmmm, you were not supposed to guess that one. Now I must insist you take the forgetting pills. :lol: Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 1, 2008 Report Share Posted November 1, 2008 More of the laughing brainless idiots, disagreeing with Peter Schiff: Peter Schiff Was Right 2006-2007 http://www.youtube.com/watch?v=B8r-nDBx5Jg House prices UP 10%. Wooops, the idiot got that one wrong :lol: "It's a buying opportunity" :lol: Ooops, another bad call. Link to comment Share on other sites More sharing options...
azazel Posted November 1, 2008 Report Share Posted November 1, 2008 More of the laughing brainless idiots, disagreeing with Peter Schiff: Peter Schiff Was Right 2006-2007 http://www.youtube.com/watch?v=B8r-nDBx5Jg House prices UP 10%. Wooops, the idiot got that one wrong :lol: "It's a buying opportunity" :lol: Ooops, another bad call. thanks for the heading for disaster and Schiff links, enjoyed watching them. Amazing how accurately Peter saw what what was to come. I just hope he right about gold too! Link to comment Share on other sites More sharing options...
blackbear Posted November 1, 2008 Report Share Posted November 1, 2008 Ohhhhhhhh Art......I think you owe Peter that Penny Seen this? http://uk.youtube.com/watch?v=z3WjgKUf-kA What a clown. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 1, 2008 Author Report Share Posted November 1, 2008 "The trust in paper assets is gone. Investors are piling into hard assets." (http://www.stern.de/haderer) Link to comment Share on other sites More sharing options...
Bosworth Posted November 1, 2008 Report Share Posted November 1, 2008 There is talk in the media of a new currency game, possibly debasing, possible bretton-woods esque. There is also talk about preventing "windfall profits" for holders of gold. How might that work? How could they stop me selling at market price something I physically own and they don't know about? Who are "they" anyway? Link to comment Share on other sites More sharing options...
Errol Posted November 1, 2008 Report Share Posted November 1, 2008 How might that work? How could they stop me selling at market price something I physically own and they don't know about? Who are "they" anyway? How about by making all use/trading/exchange of gold except with a Government agency punishable by 20 years in prison? Link to comment Share on other sites More sharing options...
headmelter Posted November 1, 2008 Report Share Posted November 1, 2008 How about by making all use/trading/exchange of gold except with a Government agency punishable by 20 years in prison? That hasn't stopped drug dealers. Link to comment Share on other sites More sharing options...
headmelter Posted November 1, 2008 Report Share Posted November 1, 2008 And we start September with: Gold = $802.6 Silver = $13.12 and £1 = $1.78 £1 = e1.22 October starts with: Gold = $870 Silver =$12.06 £1 = $1.78 £1 = e1.26 November kicks off with: Gold = $723 Silver = $9.86 £1 = $1.61 £1 = e1.269 Link to comment Share on other sites More sharing options...
DoctorSolar Posted November 1, 2008 Report Share Posted November 1, 2008 There is talk in the media of a new currency game, possibly debasing, possible bretton-woods esque. There is also talk about preventing "windfall profits" for holders of gold. How might that work? How could they stop me selling at market price something I physically own and they don't know about? Who are "they" anyway? If they are talking about some kind of 30's style confiscation of peoples gold I just don't see how that could work both in terms of the mechanics and the political ramifications. Loads of people own gold - just think of all those wedding and engagement rings! Imagine trying to confiscate those from people. The uproar would be phenomenal. If the proposal were to be one of "ok you can keep the gold you own but if you ever want to sell it you have to go through some government agency" - i still see this a a massive undertaking that would require huge international co-operation. Would we end up stopping people at the airport who wear wedding bands and other gold jewelery in case they are off to some country that lets them sell gold on the open market? Admittedly this is all small fry in physical gold quantity terms but again i feel that huge numbers of people would be in uproar over this. Link to comment Share on other sites More sharing options...
romans holiday Posted November 1, 2008 Report Share Posted November 1, 2008 How about by making all use/trading/exchange of gold except with a Government agency punishable by 20 years in prison? Latest news on CNN: gun sales up 10%. Fed is not omniscient or omnipotent so we will get a good bout of deflation. Govt is not ominscient or omnipotent so there is only so much they can do before it also deflates. Bring it on. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted November 1, 2008 Report Share Posted November 1, 2008 That hasn't stopped drug dealers. how about making all the debt pushers spend time in prison maybe the drug dealers just need to make political donations, lobby more and offer lucrative contracts to ex prime ministers and MP's Link to comment Share on other sites More sharing options...
warpig Posted November 1, 2008 Report Share Posted November 1, 2008 They didn't ban the ownership of US gold jewellery in 1933, it was just coins, bullion and certificates, there was still a 5oz/person exemption. It should also be said this was a US only ban, other countries still traded freely on the gold market. I find it difficult to imagine the world going back to a gold standard. When Winston Churchill went to the gold standard in 1925 didn't it cause deflation, which was why it was abandoned 6 years later? Surely this would only compound the current problems? If they are talking about some kind of 30's style confiscation of peoples gold I just don't see how that could work both in terms of the mechanics and the political ramifications. Loads of people own gold - just think of all those wedding and engagement rings! Imagine trying to confiscate those from people. The uproar would be phenomenal. If the proposal were to be one of "ok you can keep the gold you own but if you ever want to sell it you have to go through some government agency" - i still see this a a massive undertaking that would require huge international co-operation. Would we end up stopping people at the airport who wear wedding bands and other gold jewelery in case they are off to some country that lets them sell gold on the open market? Admittedly this is all small fry in physical gold quantity terms but again i feel that huge numbers of people would be in uproar over this. Link to comment Share on other sites More sharing options...
Gatesy Posted November 1, 2008 Report Share Posted November 1, 2008 How about by making all use/trading/exchange of gold except with a Government agency punishable by 20 years in prison? Hopefully the Swiss won't play ball. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 1, 2008 Author Report Share Posted November 1, 2008 BTW, Happy Halloween from the iTulip crew! Link to comment Share on other sites More sharing options...
Catflap Posted November 2, 2008 Report Share Posted November 2, 2008 BTW, Happy Halloween from the iTulip crew! Very good. Link to comment Share on other sites More sharing options...
Catflap Posted November 2, 2008 Report Share Posted November 2, 2008 I just love this! http://uk.youtube.com/watch?v=T3imSKAvgmY Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 2, 2008 Report Share Posted November 2, 2008 I just love this! http://uk.youtube.com/watch?v=T3imSKAvgmY Brilliant :lol: Link to comment Share on other sites More sharing options...
romans holiday Posted November 2, 2008 Report Share Posted November 2, 2008 November kicks off with: Gold = $723 Silver = $9.86 £1 = $1.61 £1 = e1.269 I think we might see POG go through $700 this month. More deleveraging and liquidation across the board with the dollar index back up towards 90. I wonder what the next black swan event will be that will see gold spike to $900. Link to comment Share on other sites More sharing options...
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