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Gold and Silver


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Was discussing Gold & Silver and what's happening and why the price may soar.... in the "Economic Situation is Dire" and the two political threads.

I was trying to explain why the fractional reserve currency that we have is unstainable, because it's bulit on a foundation of debt.

Iran has now been selling Oil to India in exchange for Gold. Which Israel & the US are furious about. Naughty Pesians.... can't be having that can we!! Time for another conflict methinks to clip their wings.

If Gold becomes the standard trade currency of Oil and international trade between sovereign nations, then the price of the Dollar will it is predicted collapse with a rise in the price of Gold.

Watch Max Keiser Reports on his website or You Tube and Zerohedge.com

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India buying oil using Gold from Iran and China & the Russians proposing to do the same.

The US will fight like anything to stop this happening. India for instance uses $12Billion a year to buy oil.

As I've mentioned before interesting to find out that both Saddam Hussein & Gaddafi proposed selling their Oil for Gold or other currencies rather than the Dollar before their demise! ...

Proved to be NOT too good for their health it would appear!

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Whatever you do, if you invest in gold, make sure your gold is physical rather than paper gold.

Have to agree with that!

Found this post from Con/Dem thread I posted a while back. When I said that is was probably a good bet in the current circumstances.

Gold (and Silver for that matter are pretty much at an all time high) BUT nevertheless if Gold becomes the world's reserve currency it's not difficult to predict the price will rocket.

Zerohedge.com are talking about the price of Gold this morning


Continuing Negative Real Interest Rates Sees Gold Rise Above $1,700/oz

Gold’s London AM fix this morning was USD 1,713.00, GBP 1,091.10, and EUR 1,300.59 per ounce.

Yesterday's AM fix was USD 1,659.00, GBP 1,064.08, and EUR 1,277.04 per ounce.

Gold rose 2.5% yesterday and broke $1,700/oz to $1,712.80, its biggest one-day gain in the past 4 months, as the US Federal Reserve’s 11 out of 17 members voted that interest rates would likely remain near zero into late 2014.

Investors sought safe haven refuge into gold fearing their portfolios would lose value as Central Banks flood the markets with loose monetary policies and more cash for governments that can't seem to manage their balance sheets. A group of 7 major economies now have interest rates that average .5%.

Spot gold rose 2.7% to $1,710.44/oz by 4:33pm EST (21:33 GMT).

Technical buying also propelled prices after the metal broke above its 100 day moving average for the first time in 1-1/2 months.

Silver also rallied up 4%. Today's Comex February gold option expirations will show more activity in the gold markets. One trader stated that gold's gains on Wednesday could be due to a huge cover on a short position before today's option expiration.

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The nice thing to know also is that the more the price of physical silver goes up, the more JP Morgan Stanley & Goldman Sachs

lose on their HUGE shorts taken out last year on the stuff.

Gutted for them NOT! Will put a large cap on their bonuses hopefully!

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Well I've just added "The Alphabet Killer" to my priority list in Lovefilm, as apparently it is the only instance in recorded film (thus far) where Eliza Dushku gets her boobies out, so in anticipation of it's arrival I'd start bulk-buying shares in Kleenex and hand lotion.

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Say for example I bought 10 k in gold and silver 2 years ago.

How much would it be worth today..?!

Just go to Gold Money

All the graphs for Gold, Silver, Platinum & Palladium are on the RH side of the page.

You can compare the price movement over 24hrs through to 20 years.

In 2002 the price of Gold was approx £192 per oz.. it's now about £1,110 per oz.

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I've got about $3900 in gold in a SDB...not gonna touch it until the shit really hits the fan....I figure eventually it'll be worth much more than it is now...just a matter of time.

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