The price of Gold?

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Robin Elliott shared a link.

RT.COM

Gold demand up 42% as countries abandon US dollar in expectation of geopolitical shift

4 Comments

Comments

Barry Dworak Funny that gold is well down from its 6-month high, 1f-year high, 5-year high, 10-year high (WAY down from that) if the demand spiked THAT much.

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Robin Elliott The gold price that the US government presents is manipulated. It has no correlation with gold's VALUE or future worth and availability. It is the price assuming the US$ retains its position, SWIFT, no competition from India, Russia, China, Africa, and North Korea, and other variables that are changing fast.

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Barry Dworak Gold's value is IIRC around $800/ounce. That's where it would be if the price were an equilibrium between demand from industry and the jewelry business, and the cost of extraction and refining.

ALL the difference is caused by sovereign manipulation, commodity speculation, and popular fear.

That's true today. But it was true yesterday and it will be tomorrow as well.

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Thomas Williams Our country's economy is "Based on the Debt."

Sold Out for Debt and not Gold.
Our country's economy is "Based on the Debt."
That the Federal Reserve Bank was a sham, a heist by the progressive wise guy back in the Woodrow Wilson Administration era.
Woodrow Wilson was the 28 President of the United States.
I have been reading a very good book lately called "The Creature from Jekyll Island. By E. Edward Griffin. That is an uncomfortable subject because it is talking about the Woodrow Wilson Administration era.
Along when the Federal Reserve Bank was created.
The early progressive era of Woodrow Wilson, Teddy Roosevelt, William Howard Taff, that was the beginning of this country's three progressive Presidents.
The first Progressive era that we had living here in America.
In the early1900 the wise guys entrusted with the responsibility for running the U.S. Government started using science and Ivy League think tank to help solve problems. That was logical enough, but in many ways is the same fix that we are in now as a society living here in 2018 America.
These guys created a privet Bank called the Federal Reserve Bank of America by a cartel of very powerful rich people.
That the Federal Reserve Bank lent out money to the other banks to send out money into the world to make more money for the other people banks.
That you and I borrow money from.
The problem is that it is not based on "Gold" anymore, but that the money in the Federal Reserve is not backed up by anything. That the result is we now have these wild booms and bust economic cycles jerking us all around.
the money is not worth the paper it is printed on and so if you just create money out of nothing you still have nothing.
That triggers inflation that becomes a tax on your money in your pocket.
That you must spend more money to get the product that you want. That our government leaders have been doing this purposely by basing our economic strength on debt.
That is it, Debt.
Not Gold, but Debt.

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Barry Dworak Absolutely true.

However, the price of gold doesn't track this. It doesn't make the best refuge in a world where it doesn't back currency.

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Thomas Williams Barry Dworak - Exactly.

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Barry Dworak Ironically, while people think of it as a long-term hard asset, the price of gold tracks short-term fear. In a bust, it shoots up. In a boom, it drops a lot.

This has no correlation with the actual value of a dollar, or anything else.

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