Let the hoarding begin: India buys half the IMFs gold for sale

I've heard that if you took all the gold ever mined it would fit into a cube the size of a large house.

It occurs to me that there could eventually become a race for a good portion of the planet's wealth to fit into this "house".

Most of the planet's paper money is only based on the promises of our blow-dried politicians.
 
Quote from risky63:

should peak around 1,100.00 in 3-5 days in this cycle.
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a good estimate agreed.
 
Quote from peilthetraveler:

Gold is up almost 20% in the last 2 months. Hardly what i would call "stable" Obviously they want gold for some reason.
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Could it be that the purchasing power of the dollar went down?
 
Quote from telozo:

Could it be that the purchasing power of the dollar went down?
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that is what i thought. peilthetraveler posted some figures to back up his argument a couple of pages ago you might want to look at that. it might be both reasons. either way the guess the price will rise over the next few days seems rational.
 
Quote from wilburbear:

I've heard that if you took all the gold ever mined it would fit into a cube the size of a large house.

It occurs to me that there could eventually become a race for a good portion of the planet's wealth to fit into this "house".

Most of the planet's paper money is only based on the promises of our blow-dried politicians.
More...

I saw a documentary somewhere where it said that all the gold ever mined would be equivilent to the base building that the statue of liberty stands on. In 2006 the estimate was 158k tonnes has been mined throughout history.

Anyway...here is a pic of what about 5 tons of gold looks like. (keep in mind that this budda is only 75% pure gold, so thats why i said "about")

463696888_067793d2bb.jpg
 
Quote from peilthetraveler:

I saw a documentary somewhere where it said that all the gold ever mined would be equivilent to the base building that the statue of liberty stands on. In 2006 the estimate was 158k tonnes has been mined throughout history.

Anyway...here is a pic of what about 5 tons of gold looks like. (keep in mind that this budda is only 75% pure gold, so thats why i said "about")

463696888_067793d2bb.jpg
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is that you with the budda peil.
 
Quote from peilthetraveler:

Nope...havent been to thailand before. I'm sure i will end up there one day though.
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who is it then. is it just some random person.
 
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