azazel Posted September 18, 2009 Report Share Posted September 18, 2009 Surely it would just be electronic fractions of grams. Like, er, GM or BV. Every bank would be like that. The price of gold and silver would maybe be set and fixed and all money merely represents your electronic pile. You would never be able to get at your gold or silver 'to stop economic financial disasters' but you could add to your pile in the bank with junk currency chips/paper. This would force us all to use/transact in junk chips and paper like today whilst having it 'insured' by electronic gold. Gold and silver in themselves will be banned. I can't think of another way really. Salaries could be advertised in gold grams, but you only get more monopoly money to spend! Basically like today but the fiat in your pocket will be matched by electronic gold instead of nothing but confidence, like it is now. I'm sure this would still make the value of g and s soar, but it being illegal to trade it you have to turn in your gold for land, monopoly money (lots of) or electronic gold down at the bank. I see something like this anyway. Anyone else got any ideas? I would like to see gold and silver in the money. For example, the £50 note could have a ribbon of gold or scrap the notes and go back to just coins where a £100 coin could have a few grams of gold alloyed with copper. Smaller denominations could be a silver alloy. I disagree with those that say there is not enough PMs in the world to use as money as it can be alloyed with base metals. Digital money could work like Goldmoney. So if I had £100 in the bank that would be secured to 2 grams of gold in a central bank vault that has responsibility for the accounting. If you still dont think theres enough gold then make it 0.2 grams = £100. It will never happen though. Link to comment Share on other sites More sharing options...
Wanderer Posted September 18, 2009 Report Share Posted September 18, 2009 Another point about a 'Gold world order' as you folk are discussing is the politics: surely the countries sitting on exploitable gold reserves have a new license to print money in the global reserve currency. Which countries would that be? China, Oz, S. Africa? Others? (Wales!!! - we'll beat the English!). Link to comment Share on other sites More sharing options...
TrueNorth Posted September 18, 2009 Report Share Posted September 18, 2009 OK, sovereigns done. Good. Now I want some more. Where did you get yours, again? Good price? I have been looking locally but the prices are ridiculous. Link to comment Share on other sites More sharing options...
nicejim Posted September 18, 2009 Report Share Posted September 18, 2009 The price of gold and silver would maybe be set and fixed... If you allow a government to stamp "£100" on a gram of gold then you allow it to stamp "£200" on a gram of gold. If the gold has "1g" stamped on it then we all know where we are. Edit: I'm forgetting that £ originally meant lb and is merely a fancy L with a line through it. If grams become the new currency and the people are not educated about the history of currency then they will see a fancy G with a line through it on their bank statements in the centuries to come! Link to comment Share on other sites More sharing options...
TrueNorth Posted September 18, 2009 Report Share Posted September 18, 2009 John Embry very bullish on silver, even more bullish than he is about gold. audio interview here from Howe Street: Barrick Bails -- Big Deal? He also thinks the bottom is in for Nat Gas. He closes by characterising the market as "dangerous". Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 18, 2009 Report Share Posted September 18, 2009 Another point about a 'Gold world order' as you folk are discussing is the politics: surely the countries sitting on exploitable gold reserves have a new license to print money in the global reserve currency. Which countries would that be? China, Oz, S. Africa? Others? (Wales!!! - we'll beat the English!). This is a major misunderstanding, because they have to work hard and need technological resources, human resources and energy resources to get this stuff out of the ground. Gold is not digitally created on a computer. Link to comment Share on other sites More sharing options...
Wanderer Posted September 18, 2009 Report Share Posted September 18, 2009 This is a major misunderstanding, because they have to work hard and need technological resources, human resources and energy resources to get this stuff out of the ground. Gold is not digitally created on a computer. Up to a point, Goldfinger. But if the price of Gold were (theoretically) to moon-shoot, the cost of those inputs would (whilst increasing) fall considerably relative to the value of the Gold produced. My point is that only certain countries would have the ability to produce gold. Some will be able to produce a lot. Many will have no gold resources in the ground. This assymetry would create a new politics. Link to comment Share on other sites More sharing options...
azazel Posted September 18, 2009 Report Share Posted September 18, 2009 This is a major misunderstanding, because they have to work hard and need technological resources, human resources and energy resources to get this stuff out of the ground. Gold is not digitally created on a computer. Thats the great thing I like about gold as money,the fact that hard work is required to start with, and then its a medium of exchange for other peoples hard work. Exchanging hard work for crap that flies off the printing press is a scam, imo. Link to comment Share on other sites More sharing options...
azazel Posted September 18, 2009 Report Share Posted September 18, 2009 If you allow a government to stamp "£100" on a gram of gold then you allow it to stamp "£200" on a gram of gold. If the gold has "1g" stamped on it then we all know where we are. Edit: I'm forgetting that £ originally meant lb and is merely a fancy L with a line through it. If grams become the new currency and the people are not educated about the history of currency then they will see a fancy G with a line through it on their bank statements in the centuries to come! Im sure the freemasons would approve, they like Gs Link to comment Share on other sites More sharing options...
romans holiday Posted September 20, 2009 Report Share Posted September 20, 2009 Silver bugs getting a mention on Bob Hoye's latest. http://howestreet.com/audiovideo/index.php...ediaplayer/1391 Link to comment Share on other sites More sharing options...
grumpy-old-man Posted September 20, 2009 Report Share Posted September 20, 2009 Silver bugs getting a mention on Bob Hoye's latest. http://howestreet.com/audiovideo/index.php...ediaplayer/1391 I'll raise your Hoye with a Butler. I presume & appreciate that Bob Hoye's latest was a reply to the Ted Butler link from 9th sept above, but I think there are some very believable & tangible points made, especially the China Card: "The China Card As powerful as those forces are, they are not the main factors of the perfect storm and coming bubble. A force that threatens to profoundly disrupt the silver market is China. After 60 years of it being illegal for Chinese citizens to buy and hold silver (and gold), it has recently become legal. Not only that, the government is actively encouraging citizens to buy silver, allowing it to be sold by banks. Early reports suggest that the Chinese government is succeeding, with stories of bank lines developing for people waiting to buy silver. With the world's largest population that has an established and ingrained propensity to save, and with an historically attractive asset suddenly available after a void of 60 years, it's hard to imagine how a rush into silver won't develop. In addition, reports of pending export restrictions from China, the world's largest refiner and third largest miner of silver, threaten to create a one-two price punch never witnessed before. Years ago I wrote, at the urging of my friend and mentor, Izzy Friedman, how China was likely the big silver short, depressing the price to pick up refining market share and dominance in the world production of silver. After the low price drove out world refining competition, China could then be in the position of controlling the price and driving it as high as they desired. I can't help but think that not only was such analysis by Izzy correct, but it may be about to be realized." he also makes a point that because of the newly tradeable ETF's, (since 2006 iirc from that link) that silver & gold are more tradeable for investors/corperations who don't fancy physical buy & hold stance's. The world needs a new bubble, there always HAS to be one, what if the banksters start using their age old weakness & hatred of metals to their advantage ? Link to comment Share on other sites More sharing options...
Pixel8r Posted September 20, 2009 Report Share Posted September 20, 2009 I'll raise your Hoye with a Butler. :lol: Link to comment Share on other sites More sharing options...
TrueNorth Posted September 21, 2009 Report Share Posted September 21, 2009 Good one GOM. Now, I am looking at silver in US$. Are my eyes deceiving me, or is silver down a whole buck since peaking at $17.60 or so Sept 17? My live price is $16.58 at the mo. That is quite a drop! I also note the gold:silver ratio has turned up and is now over 60. Barely. Link to comment Share on other sites More sharing options...
Pixel8r Posted September 21, 2009 Report Share Posted September 21, 2009 As Sinclair has warned, you ain't seen nothing yet - the volatility will kill you if on margin, otherwise just sit tight and 'watch the shew...' I'm personally hoping for a drop in silver over the next few weeks so I can load up when I sell my motorcycle ... but I'd still buy at $16-17, I bought some at the peak at $21 and am happy with that in the long term... I think in a year $16 will look like peanuts! Agree completely with your thoughts on silver. Listened to some of that web bot stuff over the weekend, $600 silver in summer 2010 Will be very interesting to see if anything happens on October 25th and November 5th, not long to wait to see if there is anything in it. What bike are you selling? I have been into to bikes for years. Link to comment Share on other sites More sharing options...
romans holiday Posted September 21, 2009 Report Share Posted September 21, 2009 Good one GOM. Now, I am looking at silver in US$. Are my eyes deceiving me, or is silver down a whole buck since peaking at $17.60 or so Sept 17? My live price is $16.58 at the mo. That is quite a drop! I also note the gold:silver ratio has turned up and is now over 60. Barely. Silver has come a long way fast and is due a breather here. One more wave up in the market should see the ratio get well into the 50s.... where I will be getting a very itchy finger to swap to gold... and bunker down for a possible market crash. Link to comment Share on other sites More sharing options...
Pixel8r Posted September 21, 2009 Report Share Posted September 21, 2009 Cliff High of web bot fame says there results have been measured at LEAST on a basis of 2 times better than chance!!! WOW! If you had that advantage at a roulette table, you would clean up! The bike is a souped up 1200cc Buell - I'm *giving* it away in the USA, but no takers - I could have easily sold it for a grand or two more 6 months ago, now there just seems to be no money about. This is it: http://cgi.ebay.com/ebaymotors/ws/eBayISAP...=STRK:MESELX:IT I am lusting after a Triumph Rocket III - biggest baddest engine in the world at 2300cc - they are about a minimum of $8,000 for a good-un - but I think I should put anything I get for the Buell into silver! The Buell is a great streetfighter tool and yours looks tricked up to the max, really surprised that you are not getting any takers. I guess that shows really how bad things are in the real world, no one wants toys anymore. I would imagine there will be some very cheap boats around. Link to comment Share on other sites More sharing options...
Pixel8r Posted September 21, 2009 Report Share Posted September 21, 2009 You are right but I'll tell you a secret - I bought that bike for only $6,000 a few months ago!!! The owner was a multi-millionaire who paid for all the upgrades, money really no object - he bought it from Texas in 2007 and paid about 6k I think so he invested shedloads in it - I BADLY wanted this bike!!! Anyhoos he did a no reserve auction and there were about 36 bids, and it was bid up to about $5,000, anyhoos I used bidnip to jump in and snipe it in the last few seconds and I set my max bid at $7,750 - and I could NOT believe I got it so cheap! And the millionaire guy was not too happy about selling it to me for 6k. But things have changed now, at least my priorities have changed, so it has to go. I'm back in FL in 2 weeks so will ride it until Xmas+, and have it up for sale all that time, but looking at ebay as I do, it is a really useful tool for a snapshot of the real world economy and seeing if joe6pack has any money - they DON'T! Boats are dirt 'cheap' right now too! Wow he must have been completely gutted, all those trick parts must have set him back another 6k or so. If it was in the UK I would have it. When bidding on ebay I use www.powersnipe.com which seems a good tool for the job. About the only things selling for top money on ebay are gold and silver Link to comment Share on other sites More sharing options...
romans holiday Posted September 21, 2009 Report Share Posted September 21, 2009 Yes he was a bit peeved! But he was honourable and honoured the deal. Cost me 750 to ship to FL, and with ebay fees I will lose out. Hate to be selling it but my gut says silver will at least double by Xmas, 30. Would that be 2030? Link to comment Share on other sites More sharing options...
savetheclaypigeon Posted September 21, 2009 Report Share Posted September 21, 2009 ....my gut says silver will at least double by Xmas... Sold all my Goldmoney silver today so, using my dismal record of market timing as a contrarian indicator, I'd say it'll have doubled at the very least by Chrimbo! Link to comment Share on other sites More sharing options...
TrueNorth Posted September 21, 2009 Report Share Posted September 21, 2009 If I thot that, I'd spend my stash right now on the best room in the house, 10,000 dollar hookers, Cuban cigars and 5-star Club Sandwiches! Champagne please Garcon! :lol: No doubt you'd squander the rest. Link to comment Share on other sites More sharing options...
nicejim Posted September 21, 2009 Report Share Posted September 21, 2009 Sold all my Goldmoney silver today so, using my dismal record of market timing as a contrarian indicator, I'd say it'll have doubled at the very least by Chrimbo! This explains the relative strength today and the ro...you-know-what for the last hour Link to comment Share on other sites More sharing options...
Pixel8r Posted September 21, 2009 Report Share Posted September 21, 2009 This explains the relative strength today and the ro...you-know-what for the last hour Strange behaviour, it's almost like the daily London close smackdown in reverse. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted September 21, 2009 Report Share Posted September 21, 2009 Good one GOM. Now, I am looking at silver in US$. Are my eyes deceiving me, or is silver down a whole buck since peaking at $17.60 or so Sept 17? My live price is $16.58 at the mo. That is quite a drop! I also note the gold:silver ratio has turned up and is now over 60. Barely. Silver has come a long way fast and is due a breather here. One more wave up in the market should see the ratio get well into the 50s.... where I will be getting a very itchy finger to swap to gold... and bunker down for a possible market crash. you 2 day traders need to buy physical silver'n'gold & hold. I have made my choice, & as cdswamp said "all my chips are in, good luck".........I am not all in silver but about 70%. I have made my choice & I will stick with it. I think when the next stage down happens, everyone will pile into pm's. I feel safe, I have something I can see & touch, that'll do me....... edited - please remember to apply humour when reading this post. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted September 21, 2009 Report Share Posted September 21, 2009 I feel safe, I have something I can see & touch, that'll do me....... you not grown out of that Link to comment Share on other sites More sharing options...
TrueNorth Posted September 21, 2009 Report Share Posted September 21, 2009 Will do. Just got this email from Roland Watson, about his blog, newsletter, and forum. Thought it may be of interest to those here: Silver Analyst, Roland Watson He's offering a "silver analyst 'lite'" for those who don't want the monthly newsletter but would like more info from him about the silver market. Details on the blog link above. Link to comment Share on other sites More sharing options...
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