Gold Monitoring Thread £ GBP only

[mr-dead]

I think the whole gold being confiscated angle is overplayed.  Times have moved on significantly since the days of the gold standard when the average joe held some gold.

Now only a small % of the population hold any significant amount of gold and those holding the most control the system so why shoot yourself in the foot?

 

Far easier to call a bank holdiday then perform a haircut over a certain threshold, acceptible to the masses of sheep as its only the "rich" getting hit as done in Cyprus 2012/13.

Edited March 3, 2020 by mr-dead

[goldking]

3 hours ago, 5huggy said:

Agreed - PPT are always ready to "SPLAT" 😉

Nearly time for the PPT, Shug !   Currently -550.  Who's betting on green by 9pm ?

Edit 9pm: well, didn't see that coming!  Closed -800 down.  Even PPT couldn't 'save' it.

Edited March 3, 2020 by goldking

[paolo]

5 minutes ago, mr-dead said:

I think the whole gold being confiscated angle is overplayed.  Times have moved on significantly since the days of the gold standard when the average joe held some gold.

Now only a small % of the population hold any significant amount of gold and those holding the most control the system so why shoot yourself in the foot?

 

Far easier to call a bank holdiday then perform a haircut over a certain threshold, acceptible to the masses of sheep as its only the "rich" getting hit as done in Cyprus 2012/13.

Yes could be, i mean we can only make hypothesis, of course i hope no gold confiscation  but yes defenetely there will be a robbery from the accounts soon or later

[5huggy]

1 hour ago, paolo said:

of course i hope no gold confiscation

cant conferskate mine  - i sold it awl too bloke darn pub! - oh shoot fergit tooooo git a receept! 😉 🤣🤣🤣

[goldking]

2 hours ago, SilverPirate007 said:

Haha I highly doubt this is the ‘end game’. I love these conspiracy theories. Corona virus will be over soon and the markets will rebound.

ZIRP > NIRP > Game over.

A record $120 billion was injected into the REPO market just this morning.  They are injecting similar amounts every day.   But.. it'll be "over soon and the markets will rebound".  OK bro.  

[goldking]

Gold closed for the day £34.15 / $53.64 up.

[SilverPirate007]

9 hours ago, paolo said:

Well, if i was in their place i would do the following:

1) Push all the cows into fiat liquidity, crashing gold, silver, all commodities, while the stock market will crash on their own..So with panic and everything going down people will look for refuge into fiat liquidity..

2)Once the majority of the people will be in the fiat trap (imagine if gold is crashed 50% how many will have sold it....) then they can go for a reset directly creating a new digital currency or indirectly by hyperinflation. This of course only after having confiscated the gold (few will complain of confiscation if the gold will be down much ).

Otherwise there is the risk that when a new currency will be done, or during hyperinflation, gold will be revaluated several multiples while people still hold it, and dont think they will allow people to have it in that case!

The thing is this is just fantasy and is/will not ever happen outside the bubble of PM buyers.

[SilverPirate007]

8 hours ago, goldking said:

ZIRP > NIRP > Game over.

A record $120 billion was injected into the REPO market just this morning.  They are injecting similar amounts every day.   But.. it'll be "over soon and the markets will rebound".  OK bro.  

Well we will see, the hilarious idea that we are in some ‘end game’ will be shown to be nonsense, as usual. Let’s see in six months shall we?

[Paul]

 Some interesting up to date analysis from Mike "i own a  gold and silver company so take my advice with a pinch of salt" Maloney 

[sixgun]

5 hours ago, SilverPirate007 said:

Well we will see, the hilarious idea that we are in some ‘end game’ will be shown to be nonsense, as usual. Let’s see in six months shall we?

Every fiat currency system in the past has collapsed. Some people who follow these things closely say the current system is collapsing - those who are looking and follow these things say they can see it. Irrespective of whether these people are right or not, there will be a point when this one collapses. The quotation attributed to Einstein is "The definition of insanity is doing the same thing over and over again and expecting a different result."
'If' the current incarnation of the fiat currency system collapsed, it would be some sort of 'end game'.
This isn't one of those CIA smear term 'conspiracy theories,' a term created to denigrate questions being asked after the Warren Commission into Kennedy's assassination - this is an interpretation and extrapolation of a lot of economic analysis by a large number of people, not just those selling gold and silver coins or emergency rations.

[SilverPirate007]

2 hours ago, sixgun said:

Every fiat currency system in the past has collapsed. Some people who follow these things closely say the current system is collapsing - those who are looking and follow these things say they can see it. Irrespective of whether these people are right or not, there will be a point when this one collapses. The quotation attributed to Einstein is "The definition of insanity is doing the same thing over and over again and expecting a different result."
'If' the current incarnation of the fiat currency system collapsed, it would be some sort of 'end game'.
This isn't one of those CIA smear term 'conspiracy theories,' a term created to denigrate questions being asked after the Warren Commission into Kennedy's assassination - this is an interpretation and extrapolation of a lot of economic analysis by a large number of people, not just those selling gold and silver coins or emergency rations.

I find such viewpoints fascinating! On the one hand people state that the GSR is a historical figure only and then go on to state that every fiat currency system has collapsed, as if that has any real meaning to the modern world. Just out of interest, how long have you felt that the fiat system will collapse?

[SilverPirate007]

2 minutes ago, zhoutonged said:

Although still functional It already has collapsed over 90% It won’t be that long before people start refusing to take unbacked paper.

That is curious, when and what will be the final trigger do you think? Also you state it has collapsed by 90%, in what way has it collapsed by such a percentage figure? Or are you referencing inflation?

Edited March 4, 2020 by SilverPirate007

[sixgun]

27 minutes ago, SilverPirate007 said:

I find such viewpoints fascinating! On the one hand people state that the GSR is a historical figure only and then go on to state that every fiat currency system has collapsed, as if that has any real meaning to the modern world. Just out of interest, how long have you felt that the fiat system will collapse?

The opinion that the GSR is an irrelevant historical ratio is held by for example @goldking - i understand this point of view - a strong argument can be made for it  - it revolves around the idea that both gold and silver were money in the past but that silver is no longer money. The point being gold is money. i say silver is also money at the present time but gold is the truest form of money.

Every fiat currency has eventually collapsed - that is just a matter of historical fact. One can state that fact with or without an opinion on the gold to silver ratio.

i formed the opinion the current fiat currency system was destined to collapse in around 2010. i know it was that time b/c that was when i became seriously interested in the gold and silver markets - it was before the run up in prices in 2011 - i think it will have been in the first half of 2010. We were seeing the Fed carrying QE and we saw interest rate slashed. The financial world was rocking after the 2008 'financial crash'.

Edited March 4, 2020 by sixgun

[SilverPirate007]

26 minutes ago, sixgun said:

The opinion that the GSR is an irrelevant historical ratio is held by for example @goldking - i understand this point of view - a strong argument can be made for it  - it revolves around the idea that both gold and silver were money in the past but that silver is no longer money. The point being gold is money. i say silver is also money at the present time but gold is the truest form of money.

Every fiat currency has eventually collapsed - that is just a matter of historical fact. One can state that fact with or without an opinion on the gold to silver ratio.

i formed the opinion the current fiat currency system was destined to collapse in around 2010. i know it was that time b/c that was when i became seriously interested in the gold and silver markets - it was before the run up in prices in 2011 - i think it will have been in the first half of 2010. We were seeing the Fed carrying QE and we saw interest rate slashed. The financial world was rocking after the 2008 'financial crash'.

Gold is not money, I can not walk into a shop and pay in gold. In fact I very much doubt the average member of the public even knows the value of gold.

Let's just say, for arguments sake, it doesn't collapse, when would you be swayed that actually, in fact it is not collapsing? 2025, 2030?

Edited March 4, 2020 by SilverPirate007

[sixgun]

16 minutes ago, SilverPirate007 said:

Gold is not money, I can not walk into a shop and pay in gold. In fact I very much doubt the average member of the public even knows the value of gold.

Let's just say, for arguments sake, it doesn't collapse, when would you be swayed that actually, in fact it is not collapsing? 2025, 2030?

Which member of the public are you talking about? i suspect if you go to many parts of the world they know all about the value of gold. That many in the West have been fed a diet of disinformation from the controlled media would probably account for their ignorance.

Gold and silver are traded in $trillions each year in OTC market of the LBMA in London and they are traded as XAU and XAG - these are Forex trades - XAU and XAG are currencies and the XAU/XAG (GSR) are one of the numerous currencies pairs.

Money has the attributes of currencies but it is also a long term of value - gold and silver are money. Do you think you would be able to go into a shop in India with gold and pay for something - or China perhaps - or parts of South East Asia? i think you would find a completely different response to the Waitrose supermarket on the Kings Road. Quite a number of cryptos are emerging that are backed by gold and silver - i am heavily involved in one of these.

Every has eventually collapsed. Personally i doubt we will make it to 2025 without major currency ructions. 

Edited March 4, 2020 by sixgun

[Roy]

20 minutes ago, SilverPirate007 said:

Gold is not money,

Yes it is.

It is not currency.

[SilverPirate007]

21 minutes ago, zhoutonged said:

It has collapsed, its just going to collapse further and faster... LOL

Can anyone please explain why they believe the GSR isn't relevant? Im super confused about the logic.

You are simply referring to inflation then? Hardly a collapse. I suspect I will be buying goods and services in pounds sterling in 10, 20, 30 years. I also suspect people will be commenting how it will be about to 'collapse' then.

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Added 0 minutes later...

7 minutes ago, Roy said:

Yes it is.

It is not currency.

So how many times have you used it to purchase goods or services?

[Roy]

Never, it is not currency

[SilverPirate007]

15 minutes ago, sixgun said:

Which member of the public are you talking about? i suspect if you go to many parts of the world they know all about the value of gold. That many in the West have been fed a diet of disinformation from the controlled media would probably account for their ignorance.

Gold and silver are traded in $trillions each year in OTC market of the LBMA in London and they are traded as XAU and XAG - these are Forex trades - XAU and XAG are currencies and the XAU/XAG (GSR) are one of the numerous currencies pairs.

Money has the attributes of currencies but it is also a long term of value - gold and silver are money. Do you think you would be able to go into a shop in India with gold and pay for something - or China perhaps - or parts of South East Asia? i think you would find a completely different response to the Waitrose supermarket on the Kings Road. Quite a number of cryptos are emerging that are backed by gold and silver - i am heavily involved in one of these.

Every has eventually collapsed. Personally i doubt we will make it to 2025 without major currency ructions. 

I am hoping to carry on stacking through 2025. Can we return to this debate then please? 

---

Added 0 minutes later...

1 minute ago, Roy said:

Never, it is not currency

Indeed, maybe I am trying to prove the wrong point

[Roy]

I think you don't understand gold.

Keep stacking! 👍

[sixgun]

11 minutes ago, Roy said:

Yes [gold] is. [money]

It is not currency.

Come on Roy - gold is both. i have just stated gold is XAU which is traded as a currency. 
We know gold and silver are money and everything else is counterfeit. 

[sixgun]

Just now, zhoutonged said:

Ok well inflationary collapse which will speed up until it becomes non functioning which will be this decade and will come faster and harder than "anyone could have imagined"

 

Could you enlighten me as to why the GSR is no longer relevant? Its a bit of a bug bear for me, one of two LOL

As @Roy says it does not look like SilverPirate007 understands gold - but at least he/she knows to stack precious metal - so there is hope. 

[Roy]

Ok, I will defer.

FYI, houses in Vietnam are routinely bought in gold. Physical, with police escort et al 😃

 

[SilverPirate007]

18 minutes ago, zhoutonged said:

Ok well inflationary collapse which will speed up until it becomes non functioning which will be this decade and will come faster and harder than "anyone could have imagined"

 

Could you enlighten me as to why the GSR is no longer relevant? Its a bit of a bug bear for me, one of two LOL

Oh I have no opinion on the GSR, I was referencing many other posters who promote gold as an investment. 

This decade? Just out of interest, were you saying this last decade?

[SilverPirate007]

2 minutes ago, zhoutonged said:

I think mostly it's semantics, what do you call a parabolic destruction of purchasing power inflation or collapse?

What is the difference between money and currency. Isn't money supposed to be a store of value?

At the end of the day we all know the paper we are forced to use is counterfeit and becomes worth less and less every year.

 

Of course but we all know inflation is ongoing and irrelevant