Gold & Goverment Debts
Governments will make our money worth less to pay off their record debts. Governments can print money to pay off their debts. But they can't create gold. The supply of paper money can be infinite. But the supply of gold is extremely limited (they say that the entire gold production in the history of the world could fit on the basketball court at Madison Square Garden). And it's difficult to extract. Bill Gates could buy all the gold mined in the world in a year from his checkbook. Ibex mine
[tags]gold, spot gold, gold price, gold cost, gold production, money supply[/tags]
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Great article, can’t wait to see more!
Excellent Stuff Here!!
If things get really bad, as in a depression, that is deflationary not inflationary. Nothing the market does surprises me, but a big bull market in gold is a real long shot in my opinion.
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Fundamentally Gold should rise significantly under the current environment but one has yet to wonder when and who is to going to create panic in the Gold market forcing buyers to go back and sell all at the same time. I believe Gold is worth as a long term investment, the safe heaven status is very much subject to markets developments and emotional market forces, if you bought Gold at 900 you are either going to keep it for 5 years in order to see a decent return or you dump it if the price drops to 800.
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Japan and China with their hoards of U.S. dollars have and are continuing to manipulate their currencies to the dollar (they want to keep selling us their production) and supporting the value of the dollar holds gold prices lower than international events really dictate.
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Don’t worry about gold or silver, or even platinum and palladium. They will thrive when the economy stops thrashing around so much in its death throes.
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There are reports that the Russians are considering backing the ruble with gold.
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My wife gets an article of jewelry every once in a while, either gold or white gold (as a silver lookalike). She gives me a gold ring once in a while, preferably with Gold Coral in the mount, 18ct. is the ideal.
She likes the Jewelry aspect, I like the investment aspect.
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I really don’t see a big difference as the Printing presses go into overdrive in the Developed world to prevent a monetary crisis.
Think about it, we rapidly increase the amount of money to stabilize money. If gold could be created the same way, it wouldn’t be worth much in the Future.
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