Arongoldprog

I loved this in the comments section: "This guy has predicted 80 of the past 2 recessions."

Possible disruption  ahead for Wongers hobby???
 
By Greg Hunter’s USAWatchdog.com
Finance and economic expert Alasdair Macleod says the gold market is “extremely dangerous as far as the bullion banks, swaps and trading desks” that, at some point soon, are going to have to deliver physical gold they do not have.  Macleod explains, “I find it difficult to see how they can close it. . . . The possibility of a default and the possibility of a ‘force majeure’ is increasing all the time in this current situation.  This is a difficult thing to predict, but unless someone can show me there is a way out of this . . . I can’t see how these banks can be rescued.”
So, the only way the banks can be saved is if they can deliver tons of physical gold they likely don’t have?  Macleod says, “Which they don’t have, not likely have, they don’t have.”
Macleod thinks failure to deliver gold is coming soon where the contract will be settled in cash and not physical metal.  How many times can the gold market do this?  Macleod says, “I think it will be the end of the futures market because nobody would trust it as a means of delivering gold.  I mean it would have demonstrably failed.  So, why would you play with it again?  Of course, the failure of COMEX contracts is a very, very serious issue.”
What happens to the price of gold?  Macleod says, “The price is already on its way to infinity or, put more accurately, the dollar is on its way to zero.  The question I think you really want to know the answer to is how long will that take?  In my view, not very long.  Probably by the end of the year because we’ve got another thing happening in the background, and that is we have a banking crisis developing.  This is the natural consequence of the contraction of bank credit.  There is the effect of tariffs on top of that that turn a normal cycle of bank credit contraction into a 1929 to 1932 horror show. . . . If you have a banking collapse, then those assets values will just go down in the pan.  The next thing, of course, bond yields start rising because of the inflationary implications of a financial collapse.  At that stage, government financing becomes impossible because governments are in effect bankrupt.”
Macleod says stocks, the dollar and bonds all go down together and explains, “That is the lesson of history.  Everything just goes away.  If you destroy the currency, you destroy all the financial assets that are priced in it.  That just happens.  It just goes.”
In closing, Macleod says, “I think the problems with the currency are going to happen by the end of this year.  I think the problems of the COMEX are going to happen considerably before that.  I think they are going to be tied into a wider banking crisis.  A banking crisis is certain.  I cannot see how it can be avoided. . . . If our end point is the purchasing power of the dollar goes to zero, then you can see $1,800 for the price of gold and $19 for the price of silver is chicken c**p compared to where it’s going to go.  So, this is a major, major move that is happening, not because they are buying gold and silver so much, but because people are beginning to realize what is happening to the purchasing power of the dollar, pound, euro and so on and so forth.  That is the thing to keep in mind. . . . I think the dollar will be destroyed by year end, and the price of gold and silver is infinity. . . .  I think the banking crisis could start in a month.  Look what’s happening to their balance sheets. . . . I think the collapse is likely to be so rapid that in the absence of any other information, the best thing to do is to hold on to gold and silver as an insurance policy just in case I am right.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Alasdair Macleod of GoldMoney.com.
 

This is my latest buy a 1944 dated Egyptian 2 Piastres coin featuring King Farouk and made from .500 silver.
This coin replaced the earlier round coin that was made of a higher silver content of .833, the new coin was still minted at the Royal London Mint in England, not sure why they chose a hexagonal shape this time, but it means I have to get some more capsules to fit it in.
This coin was made for one year only in 1944, all latest official sources (Krause/NGC etc) claim that only 32,000 coins were made, making it the rarest of all my coins so far, independent sources claim it was 32 million, I am believing the official accounts until they say otherwise, partly because King Farouk was really starting to losing favour with his populace at this time.

Its a shame its hard to show lustre on the coins without using artificial light or videoing it.

I have shown it compared to the previous 1937 dated type, 2 Piastres I bought a few weeks ago.
 


 


 

https://www.cnbc.com/2020/06/19/goldman-hikes-gold-price-forecast-on-debasement-fears-and-a-weaker-dollar.html

Goldman revised the already revised 2020 gold predictions.

three-, six- and 12-month gold price forecasts to $1800/1900/2000/toz

 

https://www.cnbc.com/2020/06/19/goldman-hikes-gold-price-forecast-on-debasement-fears-and-a-weaker-dollar.html

Goldman revised the already revised 2020 gold predictions.

three-, six- and 12-month gold price forecasts to $1800/1900/2000/toz

 

Just for ***** and giggles I went on the Bank of England interest calculator. It's a fun thing that. It goes back to medieval days so you can pretend how much you would have got paid in your current salary value back whenever. https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator
Then I thought... if £1 was 1 sovereign back in the day, I'll pick a random date and work back from there to see how much i would have if i had those same sovs now.
Take £1000 now. Transport its fiat value back to, say, 1914 (before sovs were 'withdrawn'). You would have got just under 9 sovs for that.
Now, take those 9 sovs and time machine it back to now and the combined value of them would be c.£3000 spot... 
So. Could gold be 3x overvalued right now! Could it really be worth.... a third of current prices (£480)... therefore hitting pretty close to Wonglers crash claim (£400).
I jest again.

Minty Quarter Ounce Gold Britannias
https://www.chards.co.uk/minty-quarter-ounce-gold-britannias/12866?
Not showing up yet on @Darr3nG's gold price comparison site!

Added 0 minutes later... Our Choice Half Ounce Gold Bullion Coins
https://www.chards.co.uk/half-ounce-gold-coin-minty/12882?
Not showing up yet on @Darr3nG's gold price comparison site!

https://www.bullionbypost.co.uk/small-britannias/14oz-britannia-year/2019-quarter-ounce-gold-standard-25-coin/