Saudi's bought $3.5 BILLION worth of Gold in LAST 2 WEEKS

[ipatent]

Quote from dumb_mother:

raw silver is getting hard to find for less than a 15% premium to spot

You can still get 100 oz bars for less than $2 over spot.

 

[stock777]

I'd have more respect for gold if its fanboys weren't so , uh , fanboy.

 

[stock777]

Quote from ipatent:

You can still get 100 oz bars for less than $2 over spot.

yeah but those shits are hard to carry when the starving hoards are chasing you

 

[jeb9999]

Quote from dumb_mother:

raw silver is getting hard to find for less than a 15% premium to spot

Total nonsense.

Tulving.com has 1000 oz bars of silver for $0.59 over spot (about 6% premium).

 

[AMT4SWA]

Quote from stock777:

yeah but those shits are hard to carry when the starving hoards are chasing you

BS!!!!!!

M-60 on a shoulder sling firing away in one hand with gold bars in an OD green canvas pouch in the other!!! :eek:

 

[W4rl0ck]

Yeah, it's obvious.

The Fed and Treasury have been trying to do that for about a year now while fighting deflation.

The question is HOW they will do it (or fail) which you didn't manage to explain.

The $ floats against all major currencies and assets except China.

You think they're going to "devalue the dollar" by fiat?

China is the only wild card.

There are only two realistic possibilities with China AFAIK -

They can float the Chinese currency or the Fed can try buying back massive amounts of Treasuries from China with their infinite balance sheet.

Quote from Mecro:

Devalue the dollar, which should be obvious. Maybe they will have dinner & drinks first, maybe after. Possibly smoke some cigars also.

 

[canuckrookie]

Quote from W4rl0ck:

Yeah, it's obvious.

The Fed and Treasury have been trying to do that for about a year now while fighting deflation.

The question is HOW they will do it (or fail) which you didn't manage to explain.

The $ floats against all major currencies and assets except China.

You think they're going to "devalue the dollar" by fiat?

China is the only wild card.

There are only two realistic possibilities with China AFAIK -

They can float the Chinese currency or the Fed can try buying back massive amounts of Treasuries from China with their infinite balance sheet.

ChinaTARP? lol

 

[birdman]

if it gets bad enough - G8 or 20 will have a common currency and not to begin with, but eventually that currency will only exist online ... meaning plastic only ... no actual bills or coins, but that comes later

 

[jprad]

Quote from birdman:

if it gets bad enough - G8 or 20 will have a common currency and not to begin with, but eventually that currency will only exist online ... meaning plastic only ... no actual bills or coins, but that comes later

Never mind the chance of the ECB chucking the Euro, do you really expect the UK and the Swiss, who didn't join the Euro, would saddle up with the US?

The odds are better that we'd revoke the Fed's charter, end fractional reserve banking, abolish the income tax and return to the gold standard then there are of forming a single currency union.

 

[birdman]

Quote from jprad:

Never mind the chance of the ECB chucking the Euro, do you really expect the UK and the Swiss, who didn't join the Euro, would saddle up with the US?

I think a worldwide currency will come to be. In the beginning there will be holdouts but eventually everyone will fall in line. Most likely it will begin using bills and coins, but that too will fade quickly.

I'm unsure how near we are to seeing it. It might not be seen in this current financial downturn. Things will have to get much worse before even 8 would adopt such a thing.

Desparate times call for desparate measures. If things were bad enough people / governments will try anything they think is the answer.

Heck, we may still be using dollars 30 or 50 years from now, but this could be it if it gets bad enough.