Gold hits record high as dollar sinks and inflation fears reviveOctober 6, 2009 | 9:12 am
The New Gold Rush is on.
The metal soared to record highs early today, fueled by fresh fears that the dollar's status as the world's preeminent currency will continue to erode.
Gold futures in New York were trading at nearly $1,043 an ounce at about 8:15 a.m. PDT, up from $1,016 on Monday and topping the previous peak of $1,033.90 set in March 2008.
The dollar, which has been drifting lower for most of this year against other major currencies, took another hit today after Britain's Independent newspaper said secret talks were taking place
among Arab states, China, Russia and other countries to stop pricing oil in dollars, and shift instead to a basket of currencies including the euro, the yen and the Chinese yuan.Dorcas' Daddy said...
Gold is practically worthless and will be proven so--talk about a head fake.There is SO much gold available, and it's useless for purchasing anything.
No time for stats, check my archives.
Gold is the last bastion of those who want something for nothing.
Gold is not your friend, it's the circuit breaker on the financial system we have now.Gold will hold up TPTB if our money system fails.
Denmark Vesey said ...
DD ... The Blackest Man On The Planet will put his gold up against the Federal Reserve Bank Notes of The Most Jewish Man on the planet any day of the week.Particularly after the break in the dollar pricing of oil.
BTW. The financial system that "we" have now? Tell me Bra ... who exactly is "we"?
5 comments:
Gold is practically worthless and will be proven so--talk about a head fake.
There is SO much gold available, and it's useless for purchasing anything.
No time for stats, check my archives.
Gold is the last bastion of those who want something for nothing.
Gold is not your friend, it's the circuit breaker on the financial system we have now. Gold will hold up TPTB if our money system fails.
Bra/Bro/Dude/Mr. DV,
I may be Bernanke here in The Spot, but I have no great love for the system 'we' all cohabitate in.
There's just so much gold and it's in the hands of the usual players.
Look, there are 140,000 tons of gold, 25% is in Central Banks, 60% is in jewelry, and 15% in in private bullion stocks.
There's $4 Trillion of actual cash in the world (roughly). There's double that in just the US if you add CDs, savings accounts, etc.
140,000 tons is 4.5 billion ounces. If we have ONLY gold as money (no silver, paper, cowrie shells, credit, barter--just gold) then maybe, just maybe, gold is worth $2000 an ounce (2000 x 4.5B = 9T).
Gold still comes out of the ground for under $300 an ounce.
I'm just saying that you'd be hard pressed to do better with gold than dollars, no matter what happens to the dollar.
But I truly hope you do well with your bullion--I'm buying Bismuth.
I see that DD. I see that.
Gold aint perfect either.
But it's one hell of a lot better than Fractional Reserve Banking.
Unless you a banker.
Than it's the cat's meow.
Fractional Reserve Banking is what allows the power to manipulate the world to reside in the hands of a small and increasingly evil band of globalists. I am convinced the vast majority of whom are driven by an an ancient occultist agenda masquerading as a variety of Trojan Horse "ism's", such as radical empiricism, metaphysical naturalism, Malthusianism, Darwinism, and even radical environmentalism.
Controlling the world's debt is to control the world's balls.
(BTW. Don't take the Bernake thing the wrong way. You Are The Most Jewish Cat On The Planet. I dig the way you embrace your culture and hope you feel the Blackest Man On The Planet. Half the Plantation Negros here still don't get it. If you prefer Richard Gere or Dustin Hoffman or Sandy Koufax, fuck it. Let me know.)
DV, Gold can be used fractionally too, and if it becomes money, it will.
We're on the same page, or at least in the same book somewhere.
And, I'm not even Jewish, though my lovely bride is. You were just dogging Jews for a couple days straight so I figured I'd own it--much like you own blackness.
It's not what they call you, it's who you are that makes you a man.
My game is strong, you can make my picture whomever you like!
"And, I'm not even Jewish, though my lovely bride is. You were just dogging Jews for a couple days straight so I figured I'd own it--much like you own blackness." DD
Of course you are Jewish. Like most Americans, you are at least an Amateur Jew.
Which is cool.
But come on Bra. DV "dogging Jews"?
Neva!
Challenging our Jewish brothers as much as challenging our black brothers is a demonstration of love and respect.
Plantation Negros. Plantation Crackas. Plantation Jews. What's the difference?
Holding Jews to a separate standard like some people ... (I won't say no names. Undercover Black Man) is actually an example of a perverted anti-Semitism.
Nah Bra. DV and never dog no Jews. I challenge to link to an example.
Please extend a warm "Shalom" to your lovely bride.
I'm actually considering converting to Judaism. I suspect if I dig back far enough my people were black Jews doing their thing in Ethiopia.
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