EdwardTeach

Rather than celebrating the sudden rapid rise in gold price maybe we should be more concerned about these sudden moves over the past month? After all gold is the barometer of global chaos.

Even WW3 preppers are talking about the price of gold at the moment. The first 10 minutes of Canadian Preppers daily news update was dedicated to talking about gold today.

Merry Christmas everyone.

Is it possible to buy coin tube that will fit 10 x 1oz silver Britannias?

I'm going to treat someone to a nice Christmas present of some silver coins but I can only afford to stretch to 10 Britannias rather than a full tube of 25 so it would be nice to have a tube that fits 10.

12 hours ago, Bratnia said:

since the 1970's the direct peg has adjusted to being more of a target alignment, not absolute alignment.

 

Huh???

On 25/08/2023 at 06:13, flyingveepixie said:

No one said everything was going to change with this summit, that's not the way it works as noted above in @EdwardTeach's comment regarding the rise and fall of empires.  It's a process over time.

 “How did you go bankrupt?"

"Two ways. Gradually, then suddenly.” - Ernest Hemingway

2 hours ago, monkey said:

Very good video clip. I wondered where this chap had disappeared to. He was all over TV about 5-10 years back. Much like David Bellamy....

He does a 10 minute monologue on GB News every weekend. They’re very good. This was his last one.

18 hours ago, BLOOMMAN101 said:

Rafi is an acquired taste but some interesting charts inc silver and palladium, which is off on a nice little run this afternoon 
Jump the first 6 minutes (just a stock recommendation)

https://www.youtube.com/watch?v=DeolEFkiRDY

The best intro to a video ever!

17 hours ago, Charliemouse said:

2023 Coronation SOTD Sovereign

Front and back lighting, turned about 20 degrees away, to get the lustre on the matte finish.  Beautiful coin.

It actually looks like real gold and not coppery!

13 minutes ago, Bigmarc said:

Nam not overly sure how it can be programmed. Makes more sense to program the wallets.

I agree. A programmable CBDC wallet/digital ID makes more sense to me too.

2 hours ago, Zhorro said:

Even before the introduction of CBDCs, people are struggling to spend their money the way they want - there have been numerous stories on this Forum where members report that they have been stopped from buying gold or silver by their banks (because of anti-fraud/suspicious activity).  So, I struggle to see what difference the introduction of CBDCs would make.

The programable options available to them and the level of control that a CBDC would give them over controlling your spending would be an order of magnitude higher with a CBDC than it is in the current financial system. It’s nothing like the same at all. It’s not even close.

2 hours ago, Zhorro said:

And there is a problem when trying to spend gold and silver - you can't pay your electricity bills or council tax with them, and you can't buy food with them!

As I said “we are not there yet” but things will change later on once there are CBDCs and/or hyperinflation is happening. When that time comes then people will naturally want alternative methods of exchange outside of the CBDC/inflating currency.  When that happens people will be forced to learn and adapt very quickly, everyone will know about gold and silver by then and will want it. You may not be able to pay your electric bill or taxes with gold and silver but people will want and accept it as payment for goods and services. But as I said we are not there yet! That probably won't happen until we have forced CBDCs or hyperinflation.

16 hours ago, 9x883 said:

not sure about the whole exchange rate theory 😕

Initially it looked like the jump in gold price was just a response to the pound dropping in exchange rates. But now, 24 hours later, gold is also rising in other currencies as well which suggests there is something else at play and the price of gold is actually rising a bit in real terms too.

58 minutes ago, GoldDiggerDave said:

@flyingveepixie you know what’s gonna happen, gold goes to the moon we are all loaded beyond our wildest dreams,  but it will  be impossible to convert it into a CBDC the only medium of exchange available.  🤣.   
 

8 hours ago, JamesH said:

I wonder what many of the extreme YouTubers are gonna do now the BRICS summit has been little more than a damp squib. Wasn’t everything going to change…

Everything is changing. It's just not going to happen all at once though. It takes far more time than people expect.

Historically these kind of things tend to play out in lots of tiny little steps and stages which can take several years, sometimes even decades, as one new empire rises while the old one falls.

If the banks crash I see a > £25 silver by Xmas.

Don't ask me to put my money where my mouth is though. I'm not brave.

10 minutes ago, flyingveepixie said:

I don't know. I would say it's a definite maybe too.

Possibly.

3 hours ago, flyingveepixie said:

So what are the thoughts on gold price movement today..?    At the moment it's trending slightly upwards from last night. 

Is the BRICS an influence or is the whole movement from yesterday and so far today based solely on exchange rates ..?

Did the BRICS summit influencing the gold price yesterday?
I would say it’s a definite maybe.

3 minutes ago, 9x883 said:

So what's the actual price of a physical ounce, if all the paper gold were to be removed?

Probably enough to buy about 20% of an average sized house.

10 minutes ago, Bratnia said:

There's 120+ times more paper gold than physical gold .....

..... Push come to shove and a bar in the hand is worth two in the bush.

When push comes to shove I'm hoping a bar in the hand will be worth worth 120+ in the bush.

5 minutes ago, ZRPMs said:

Some random old guy from the local old folks farm. Bless him, Some days they don't even give him his milk and cookies

He thinks he's the President. Bless him.

22 minutes ago, Paul said:

You have Kansas City Fed's "Jackson Hole - Symposium" starting tomorrow Aug. 24 to 26

I wonder if they invited Putin after he couldn't be bothered going to the BRICS one in Africa?

16 minutes ago, Bratnia said:

So no different to the existing then. The US dollar broadly aligns the DXY, compares to a basket of other currencies, with some interim zigzagging around that. The US also in part still peg the dollar to gold. There is no need for a alternative, or at least there wasn't until the US weaponised the dollar. Part of that process requires openness, transparency and free-flows of capital. The BRICS by nature may be able to replicate the concept, but aren't capable of providing the openness, transparency and free-flows, at least not longer term. The BRICS answer to the weaponisation of SETS (international trade settlements system) is not to create a alternative that has no longer term prospect, but rather to instead create their own version of SETS to which they can direct international trade settlements should the US opt to pull the plug on access to its SETS as part of political conflicts.

Digital currency is short life IMO, having ledgers locked away and distributed - the current system, and that is considerable less risk than a openly shared common ledger that is a single weak point that sooner or later will be breached/hacked/fail - with massive consequences.

No that's not what I meant at all.

The Dollar has not been pegged to gold since 1972, either partially or otherwise, and when I said 'digital' I was thinking more of new blockchain technology unlike the ancient system currently in use.

24 minutes ago, JamesH said:

Fear not. It’s almost entirely exchange rate related. Gold up $5/oz in USD today but £20/oz in GBP. It’ll iron itself out 👍🏼

So... if the pound keep crashing we'll all be rich!

11 minutes ago, flyingveepixie said:

I don't think they plan to make any kind of currency announcement at the moment. 

I agree. It's not ready yet so they'll probably only discuss it for now but hold back on an official announcement for a while yet.

Also it's a matter of timing. I bet they will time the rollout announcement for when the dollar is crashing and is in maximum trouble. At the same time the Middle East will probably also announce that they will accept the new BRICS currency instead of USD for oil from now on too.

(...and that's how the Dollar ends and WW3 starts )

5 minutes ago, Coverte said:

It will never be a backed currency, too few countries own enough gold, nor funds to buy it;

a gold denominated currency - that is therefore the only realistic possibility.

I expect it might be a partially gold pegged digital currency of some kind.