The coming Gold crash

[Thelonerangershorse]

Cash not much use in this contry since they introduced plastic notes.

[Stacktastic]

4 hours ago, Wonger said:

Very good post, shame there is not more like this instead of childish nonsense!

These are not really my views, but the views of nearly every economic expert that i have researched in the last few months. 
Even the odd billionaire. 

Its very worrying that the Davos conference are the people that dictate to the banks & some government policy and have said that they will bring in a 4th industrial revolution. Even siting that humans will be merged with tech & also hinting to a move to digital currency (yes they even wrote a book on it apparently - I need to read it tbh.). Claus Smitt or however you spell his name. it will go one way or the other. P[eronsally i think there will be a bit set too, with the recent upsurge of Billionaires as the power greatens & the central bankers & governmental/institutional power will be in the firing line. I have said to my wife for over 12 years "i bet the next war will be with google or similar". 

https://www.weforum.org/great-reset

Gonna dip out of this I think

Edited July 24, 2020 by Stacktastic

[SilverPirate007]

1 minute ago, mr-dead said:

not finalised yet, I used cash as a short term transfer medium after the gold increased in cash value by 40%

I doff my cap to you, I wish I had bought into gold earlier. My point is you needed to pay in cash as it’s the accepted form of payment.

[mr-dead]

1 minute ago, SilverPirate007 said:

I doff my cap to you, I wish I had bought into gold earlier. My point is you needed to pay in cash as it’s the accepted form of payment.

it may have wider acceptance but does that make it "king" when it's purchasing power is eroded year on year and if you can't generate interest or a return exceeding inflation is a disaster long term?

[SilverPirate007]

1 minute ago, mr-dead said:

it may have wider acceptance but does that make it "king" when it's purchasing power is eroded year on year and if you can't generate interest or a return exceeding inflation is a disaster long term?

Possibly but I reiterate, it will always be the accepted form of exchange for transfer of goods. Saying that I keep most of my wealth in anything but cash lol

[Stacktastic]

4 hours ago, Wonger said:

Very good post, shame there is not more like this instead of childish nonsense!

I initially misread that btw, polishing my car, im very busy these days.

[Notafront4adragon]

35 minutes ago, mr-dead said:

Not always,

Zimbabwe:

Germany:

 

We have a whole list here:

https://www.tripsavvy.com/worlds-most-worthless-currencies-4154597

 

No one used gold in Zimbabwe for purchasing anything. They just used US dollar.

[Eco]

I dont want to be harsh.

But you guys going on about inflation are all buying into exactly what you are being told.

Yes inflation exists, but the real danger to the established super economies is deflation. 

 

[mr-dead]

2 minutes ago, Notafront4adragon said:

No one used gold in Zimbabwe for purchasing anything. They just used US dollar.

who faired better after the crash, someone holding their wealth in gold or cash in the bank?

I presume it would be far easier exchanging gold for dollars to buy local goods over worthless local currency?

[SilverPirate007]

3 minutes ago, mr-dead said:

who faired better after the crash, someone holding their wealth in gold or cash in the bank?

I presume it would be far easier exchanging gold for dollars to buy local goods over worthless local currency?

No one holds gold in Zimbabwe

[mr-dead]

4 minutes ago, SilverPirate007 said:

No one holds gold in Zimbabwe

the wealthy hold gold in every country on the planet

[Martlet]

19 minutes ago, mr-dead said:

not finalised yet, I used cash as a short term transfer medium after the gold increased in cash value by 40%

But you didnt actually use cash, you made a bank transfer right?  All those places where paper has failed to have value required physical paper currency to trade.  We dont print actual money with QE, digital funds replace digital debt to give liquidity.  This doesnt have the same effect on economy as physical cash in people's hands.

[r1lee]

2 hours ago, Witcher said:

It does not seem feasible.  It would require a lot of unnatural things to occur.  Unnatural because inflation typically devalues a currency, but in this case, it would do the direct opposite. 
Instead of the dollar, which is the unit being measured, being decreased and having gold be closer to $8000/oz, Wonger is saying it will be $400/oz.  

Okay, it's no secret that globalist and their ilk want a major reset.  They know their fiat garbage is garbage and their systems don't work, but they are hellbent on control. 
So if they propose a trade of $1 for $0.25 digital dollar, that's the only way I can see it reaching $400.  That would void any proposed bet.

Besides that, I don't see it naturally dipping under $1000/oz. 

This is why in the other thread, i state that "this time is different" haha. I can't fathom $400 GOLD, especially with the devaluation of the USD, it makes no sense. But i'm not inclined to think that its not possible.  If we have a massive market crash, one so violent that it would make the dot.com and financial crash look like silly, then anything is possible.  This world is running on debt, and if those debts are called, there might be a scramble to liquidate any assets as possible.  What we have learnt from history is that Cash is King during this time, what happens thereafter is a different story.  If gold was $400, people would probably be kicked out of their homes for not being able to pay.

I think a great reset is probably likely to happen with Gold being re-evaluated per ounce to the new currency.

 

 

[KDave]

53 minutes ago, Eco said:

 

Yes inflation exists, but the real danger to the established super economies is deflation. 

 

Exactly correct. Deflation has been the biggest systemic risk since late last year, with the central banks not printing enough. But people do not want to hear it, all they see is inflation. Hyper inflation is the favourite scenario for some reason, and also the least likely. 

[Wonger]

10 minutes ago, KDave said:

Exactly correct. Deflation has been the biggest systemic risk since late last year, with the central banks not printing enough. But people do not want to hear it, all they see is inflation. Hyper inflation is the favourite scenario for some reason, and also the least likely. 

Dont say that, the PM dealers on here will be greatly upset! 🤣

[MancunianStacker]

1 hour ago, SilverPirate007 said:

Possibly but I reiterate, it will always be the accepted form of exchange for transfer of goods. Saying that I keep most of my wealth in anything but cash lol

Not always. Once the currency has lost all confidence people will spend it on anything to get rid of it as soon as they get paid. Some in Zimbabwe and Weimar would have spent it on gold if they could have found some for sale (why would the gold seller want their currency). I

It’s fine for smaller transactions like grocery shopping but when you are losing 40% a month in currency value then people will start selling their properties in ounces of gold instead (once they’ve cottoned on). Why would you want to lose 40% on your sale price etc.

I save in Gold like you too though, good move 👍🏻

[jultorsk]

"A determined government can always generate higher spending and hence positive inflation."

- Ben Bernanke 

https://www.federalreserve.gov/boarddocs/speeches/2002/20021121/

[MancunianStacker]

2 minutes ago, jultorsk said:

"A determined government can always generate higher spending and hence positive inflation."

- Ben Bernanke 

https://www.federalreserve.gov/boarddocs/speeches/2002/20021121/

They can target 2% all day long but they could get it wrong. Imagine that. 

[Wonger]

5 minutes ago, MancunianStacker said:

They can target 2% all day long but they could get it wrong. Imagine that. 

And Subprime is contained

[SilverPirate007]

1 hour ago, MancunianStacker said:

Not always. Once the currency has lost all confidence people will spend it on anything to get rid of it as soon as they get paid. Some in Zimbabwe and Weimar would have spent it on gold if they could have found some for sale (why would the gold seller want their currency). I

It’s fine for smaller transactions like grocery shopping but when you are losing 40% a month in currency value then people will start selling their properties in ounces of gold instead (once they’ve cottoned on). Why would you want to lose 40% on your sale price etc.

I save in Gold like you too though, good move 👍🏻

Thanks, I convert around 80% of my disposable to PM. Although your post quotes two events in 150 years! I do think you are right though.

[SilverPirate007]

10 minutes ago, Witcher said:

I don't think anyone is saying that deflation does not exist or isn't important. 
We know that they don't have to physically print. All they have to do is simply add a bunch of digital integers on a computer base. 
We already see them NOT minting enough physical coins. Hence, creating a coin shortage.  
What does that do?  Increases the value of metals because there is demand and they limit the supply.  
Everything they do is artificial. that is the whole point.... and the whole reason to hedge against it. 

Who is the ‘they’ there are private mints as well as government mints?

[AuricGoldfinger]

2 hours ago, mr-dead said:

the wealthy hold gold in every country on the planet

Some of us poor folk do too! 😃

[SilverPirate007]

1 minute ago, Witcher said:

I am in the u S of A so I strictly mean the Federal Reserve, but i would bet that the rest of the governmental authorized fiat currency regulators operate the same. 
But here, they don't let any private mints compete as currency/legal tender.

But they can still mint silver? It’s the metal weight that matters or am I missing the point?

[SilverPirate007]

1 minute ago, Witcher said:

that is just two examples, but there are a lot more than that...  Greece... a few times... Venezuela recently.  
even the States... though they merely manage to keep applying more band-aids.  wait until all of those bandages burst.  
I don't want it to because it will be ugly.  At some point, righteousness does make a reformation occur.  
The time of the Lord's long-suffering may come to an end...  and who is prepared?   (no pre-trib rapture so I hope no one believes in that false doctrine). 

I’m a prepper so I have no worries about any event. I just don’t think it likely. Just a personal opinion of course.

[AuricGoldfinger]

The path of the righteous man is beset on all sides by the inequities of the selfish and the tyranny of evil men.