Gold Monitoring Thread £ GBP only

[Chronos]

Disinflation Narrative Dies As Manufacturing PMIs Show Prices Soaring Most In 20 Months:

https://www.zerohedge.com/personal-finance/manufacturing-pmis-mixed-growth-both-see-prices-soaring

[Chronos]

America will be left with ‘severe, irreversible scars’ if national debt goes unchecked. Now, a blockbuster report warns the bill is higher than believed, hitting $141tn by 2054:

https://archive.is/gl8FJ

[Agaupl]

19 minutes ago, DisplayName said:

The ownership lies with the holder. A paper saying you own a gorillion of American gold bars is worth exactly nothing. It's less than fiat.

As long as the gold is present in American vaults, the Americans own it. 

Even if it’s French gold, German gold etc … hence Nixon jumped off the gold standard. It wasn’t buy choice … the French had had enough. 

Edited April 1 by Agaupl

[Agaupl]

3 minutes ago, Chronos said:

America will be left with ‘severe, irreversible scars’ if national debt goes unchecked. Now, a blockbuster report warns the bill is higher than believed, hitting $141tn by 2054:

https://archive.is/gl8FJ

If someone had started a business on the day Jesus was born and it lost $1 million a day .. its debt would still be under $1 trillion … I never did the math on this but I saw it in the internet so it must be true. 

[HonestMoneyGoldSilver]

11 minutes ago, Agaupl said:

Even if it’s French gold, German gold etc … hence Nixon jumped off the gold standard. It wasn’t buy choice … the French had had enough. 

I'm always up for blaming the French, they're a bunch of unappreciative, gold-munching surrender monkeys, BUT:

The Trigger That Closed the U.S. Gold Window (bullionstar.com)

But beyond this, the British request for US Treasury gold was the main event of August 1971.  There is ample evidence in everything from archives to academic papers to the memoirs of the US Government officials involved, that it was French but crucially British requests to exchange US dollars for gold in the week prior to 15 August that forced the US government to close the gold window and suspend US dollar convertibility into physical gold.

[HonestMoneyGoldSilver]

13 minutes ago, Agaupl said:

If someone had started a business on the day Jesus was born and it lost $1 million a day .. its debt would still be under $1 trillion … I never did the math on this but I saw it in the internet so it must be true. 

$1,000,000*2023*365 = $738,395,000,000, let's call it $740 billion or a rounding error for the Biden Administration 

You'd have to lose $46 million/day since the day Jesus was born in order to be in as much debt as the US government

[PapaLazarou]

Q: Why are French roads lined with trees?

 

 

 

 

 

 

A: To ensure that German soldiers don't have to march in the sun.

[Agaupl]

1 minute ago, HonestMoneyGoldSilver said:

I'm always up for blaming the French, they're a bunch of unappreciative, gold-munching surrender monkeys, BUT:

The Trigger That Closed the U.S. Gold Window (bullionstar.com)

But beyond this, the British request for US Treasury gold was the main event of August 1971.  There is ample evidence in everything from archives to academic papers to the memoirs of the US Government officials involved, that it was French but crucially British requests to exchange US dollars for gold in the week prior to 15 August that forced the US government to close the gold window and suspend US dollar convertibility into physical gold.

Whatever or whoever caused the crunch .. the crux is … people wanted their shiny .. and it wasn’t there. Jump to limits.. Jump to bans … jump to today.  And don’t get me started on US monetary manipulation during the wars. The wars where allies were charged more than enemies. The UKs (and France’s) decline post 1914 is not an accident of history or solely a result of wars (which it won) it was due to US policy. 

[dicker]

Gold has been zinging up and down today.  Will London open crystallise a rise upwards?

[dicker]

4 minutes ago, PapaLazarou said:

Q: Why are French roads lined with trees?

 

 

 

 

 

 

A: To ensure that German soldiers don't have to march in the sun.

The French Navy.  Moored at its usual place.  The seabed. 
 

[HonestMoneyGoldSilver]

Just now, Agaupl said:

Whatever or whoever caused the crunch .. the crux is … people wanted their shiny .. and it wasn’t there. Jump to limits.. Jump to bans … jump to today.  And don’t get me started on US monetary manipulation during the wars. The wars where allies were charged more than enemies. The UKs (and France’s) decline post 1914 is not an accident of history or solely a result of wars (which it won) it was due to US policy. 

Yep yep. The USA crushed the British Empire as the British were the only force on earth who could challenge them (War Plan Red, etc). How the Americans today probably wish the Royal Navy was still slapping the Chinese about and scaring the Russians witless like in the good old days

100% on the debt but hey one thing that never gets enough attention is that WWII was the "solution" to the Great Depression. If we find ourselves in that situation again where Europe and the USA are in economic freefall with no light at the end of the tunnel ... guess what's gonna happen? 

[dicker]

2 minutes ago, HonestMoneyGoldSilver said:

Yep yep. The USA crushed the British Empire as the British were the only force on earth who could challenge them (War Plan Red, etc). How the Americans today probably wish the Royal Navy was still slapping the Chinese about and scaring the Russians witless like in the good old days

100% on the debt but hey one thing that never gets enough attention is that WWII was the "solution" to the Great Depression. If we find ourselves in that situation again where Europe and the USA are in economic freefall with no light at the end of the tunnel ... guess what's gonna happen? 

The new deal was to my mind a failure.  Then came….WW2

[Agaupl]

1 minute ago, HonestMoneyGoldSilver said:

Yep yep. The USA crushed the British Empire as the British were the only force on earth who could challenge them (War Plan Red, etc). How the Americans today probably wish the Royal Navy was still slapping the Chinese about and scaring the Russians witless like in the good old days

100% on the debt but hey one thing that never gets enough attention is that WWII was the "solution" to the Great Depression. If we find ourselves in that situation again where Europe and the USA are in economic freefall with no light at the end of the tunnel ... guess what's gonna happen? 

If? If you haven’t priced that in yet then god help you. Been clear since 2014 at least . The language now isn’t ‘if’ there a war it’s ‘when’ or ‘the coming war’. It’s not if anymore unfortunately. 

[Agaupl]

1 minute ago, dicker said:

The new deal was to my mind a failure.  Then came….WW2

The transfer of wealth to the us was extraordinary. 

[Gruff]

Looks like the normal 1000 EST tamp down in effect across both PMs today.

[Agaupl]

1 minute ago, Gruff said:

Looks like the normal 1000 EST tamp down in effect across both PMs today.

Anything but a heavy retrace is bullish. It’s needed tbh (sorry)

[James32]

Just now, Agaupl said:

Anything but a heavy retrace is bullish. It’s needed tbh (sorry)

Take that back and wash your mouth out with soap.

[Agaupl]

Just now, James32 said:

Take that back and wash your mouth out with soap.

I told you before.. it doesn’t work. 

[HonestMoneyGoldSilver]

2 minutes ago, Agaupl said:

If? If you haven’t priced that in yet then god help you. Been clear since 2014 at least . The language now isn’t ‘if’ there a war it’s ‘when’ or ‘the coming war’. It’s not if anymore unfortunately. 

If that happens we're screwed. The UK can't fight a conventional war against a sophisticated adversary. We're roughly in the same boat as Russia, if SHTF we're gonna nuke everything from orbit, it's the only way to be sure! With the direction our society is headed a full scale nuclear war might be an improvement

I'm inclined to give more credence than I should to Masonic conspiracy theories about WWI and WWII. We know for a fact that FDR, Stalin and Churchill were Masons, or Druids in the case of Churchill. It's more profitable to have a perpetual war that doesn't kill everybody but still uses a boatload of materiel and ammo. Not much point in being king of the world if there's no peasants left to make your afternoon tea. Not much point in hoarding gold either if there's nobody left to trade with. A conventional war boosts gold and assets, a nuclear war craters everything. Seems we decided on a perpetual proxy war with Russia and Iran, it did wonders for BAE and gold!

[HonestMoneyGoldSilver]

3 minutes ago, Agaupl said:

Anything but a heavy retrace is bullish. It’s needed tbh (sorry)

Nah there's strong fundamentals to push gold to $2300+ easily and then $2800+ when (if) the central banks start cutting rates

Gold has a lot of legs, it should already be comfortably > $3000 if it kept up with inflation-adjusted highs from the 1980s

Our dip if we get one will be May-early September. If there's no dip in that period then gold really is headed to the moon

[Agaupl]

5 minutes ago, HonestMoneyGoldSilver said:

If that happens we're screwed. The UK can't fight a conventional war against a sophisticated adversary. We're roughly in the same boat as Russia, if SHTF we're gonna nuke everything from orbit, it's the only way to be sure! With the direction our society is headed a full scale nuclear war might be an improvement

I'm inclined to give more credence than I should to Masonic conspiracy theories about WWI and WWII. We know for a fact that FDR, Stalin and Churchill were Masons, or Druids in the case of Churchill. It's more profitable to have a perpetual war that doesn't kill everybody but still uses a boatload of materiel and ammo. Not much point in being king of the world if there's no peasants left to make your afternoon tea. Not much point in hoarding gold either if there's nobody left to trade with. A conventional war boosts gold and assets, a nuclear war craters everything. Seems we decided on a perpetual proxy war with Russia and Iran, it did wonders for BAE and gold!

I don’t believe any of that. .. especially the uk being able to win a war right now. Any war tbh. It’s been the 21st anniversary of the second Iraq war last week. And we literally couldn’t repeat that now after the gutting of the armed forces under austerity.

I do own bae though .. not as well as you’d think tbh. 

2 minutes ago, HonestMoneyGoldSilver said:

Nah there's strong fundamentals to push gold to $2300+ easily and then $2800+ when (if) the central banks start cutting rates

Gold has a lot of legs, it should already be comfortably > $3000 if it kept up with inflation-adjusted highs from the 1980s

Our dip if we get one will be May-early September. If there's no dip in that period then gold really is headed to the moon

Not all at once. Healthy is slower and steady .. it’s much like..

Edited April 1 by Agaupl

[HonestMoneyGoldSilver]

2 minutes ago, Agaupl said:

I don’t believe any of that. .. especially the uk being able to win a war right now. Any war tbh. It’s been the 21st anniversary of the second Iraq war last week. And we literally couldn’t repeat that now after the gutting of the armed forces under austerity.

I do own bae though .. not as well as you’d think tbh. 

Keeping up with inflation at least!

 

And doing more than twice as good as gold. Gold (and s*****) are grossly under-priced IMHO:

[Agaupl]

10 minutes ago, HonestMoneyGoldSilver said:

Keeping up with inflation at least!

 

And doing more than twice as good as gold. Gold (and s*****) are grossly under-priced IMHO:

Raytheon isn’t. Or the uranium miners for example. These are speculative assets. Gold is doing great. But it’s not a speculative asset. Almost everyone that buys gold will agree. Individuals or central banks. 

Edited April 1 by Agaupl

[CaptCaveMan]

I still can't believe that a couple of Sovs I bought in March were @spot per Oz ~£100 apart...

[HonestMoneyGoldSilver]

10 minutes ago, Agaupl said:

Raytheon isn’t. Or the uranium miners for example. These are speculative assets. Gold is doing great. But it’s not a speculative asset. Almost everyone that buys gold will agree. Individuals or central banks. 

I agree with you there. Every asset to some extent is speculative, it can't not be with the global derivatives markets. There are a couple of differences with gold though:

1) Gold is a risk-OFF asset unlike the FAANG+/Magnificent 7 or crypto which are risk-ON

2) Capital flows in gold are a lot stickier than other assets due to its applications - jewellery, central banks, money managers and even us stackers! So the price of gold won't or perhaps can't reverse in the same manner as other assets, certainly not overnight. Entities buying gold for long-term physical storage never intend to sell unlike those buying ETFs, stocks or cryptos