Message boards :
Politics :
Interesting program on the history channel. Where is all the gold going?
Message board moderation
Author | Message |
---|---|
Bob DeWoody Send message Joined: 9 May 10 Posts: 3387 Credit: 4,182,900 RAC: 10 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. Bob DeWoody My motto: Never do today what you can put off until tomorrow as it may not be required. This no longer applies in light of current events. |
Gordon Lowe Send message Joined: 5 Nov 00 Posts: 12094 Credit: 6,317,865 RAC: 0 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. I guess Fort Knox is empty? If I bought several ounces of gold, and wanted the actual stuff, in what form would it be? The mind is a weird and mysterious place |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. It would say it on paper. If the economy ever collasped Yout piece of paper would be the equivalent of toilet paper. If you dont have it in person What good was it buying it to keep it in some one elses vault. They own it. [/quote] Old James |
Мишель Send message Joined: 26 Nov 13 Posts: 3073 Credit: 87,868 RAC: 0 |
Where is all the gold going? Nowhere, we still have it. Don't trust the History Channel. After TLC they are the channel with the most blatant lie in their name. |
Gordon Lowe Send message Joined: 5 Nov 00 Posts: 12094 Credit: 6,317,865 RAC: 0 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. Right. I wouldn't want a note. I would want the real thing. Just wonder how I would get it when I buy it? Is an ounce of gold in an ingot? I have no idea how this stuff works. I have a stock broker - I should try to remember to ask her. The mind is a weird and mysterious place |
Gordon Lowe Send message Joined: 5 Nov 00 Posts: 12094 Credit: 6,317,865 RAC: 0 |
Sorry James, you obviously don't understand the bullion markets. Virtually all the gold and silver and other precious metal trading is done electronically and you have "paper" holdings. If the physical metal was to be transported from A to B for every transaction, most of it would be transit at any one time, cost a fortune, and be vulnerable to theft. Totally impractical. You "own" the metal you bought and paid for, somebody else "stores" it for you in secure depositories. Well I don't see a lot of point in buying gold if all I'm going to get is a promissory note. If things get dire, I'm sure that note would not be honored. On the other hand, from a purely investment strategy viewpoint, I guess it would be ok. The mind is a weird and mysterious place |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Sorry James, you obviously don't understand the bullion markets. Virtually all the gold and silver and other precious metal trading is done electronically and you have "paper" holdings. If the physical metal was to be transported from A to B for every transaction, most of it would be transit at any one time, cost a fortune, and be vulnerable to theft. Totally impractical. You "own" the metal you bought and paid for, somebody else "stores" it for you in secure depositories. Which is my exact point. What does a piece of toilet paper mean when you cant get accesse to the real gold? It means your a shumck. Those gold coins would be worth a lot more in your hands then the real owners who hold them in a vault. Do you really think in a time of crises that they would send you any gold? [/quote] Old James |
Gordon Lowe Send message Joined: 5 Nov 00 Posts: 12094 Credit: 6,317,865 RAC: 0 |
See the amendment to my previous post Gordon & James. Interesting. Well good, apparently it's possible to do it. I am thinking about some alternative investing, and just for the sake of having a small bar, I might do that, but I'd probably keep most of it on paper, the conventional way. The mind is a weird and mysterious place |
Мишель Send message Joined: 26 Nov 13 Posts: 3073 Credit: 87,868 RAC: 0 |
Which is my exact point. What does a piece of toilet paper mean when you cant get accesse to the real gold? It means your a shumck. Those gold coins would be worth a lot more in your hands then the real owners who hold them in a vault. Why would they need to send you any actual gold? If you want to sell your gold, you can simply sell them the paper that says you have gold. By the time a crisis gets so bad you can't trade in papers anymore, gold probably isn't much worth either. |
Мишель Send message Joined: 26 Nov 13 Posts: 3073 Credit: 87,868 RAC: 0 |
By the time a crisis gets so bad you can't trade in papers anymore, gold probably isn't much worth either. I meant the papers that say you have gold laying around somewhere in some vault. Not paper money. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30651 Credit: 53,134,872 RAC: 32 |
By the time a crisis gets so bad you can't trade in papers anymore, gold probably isn't much worth either. That vault it the Federal Reserve Bank of New York. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Which is my exact point. What does a piece of toilet paper mean when you cant get accesse to the real gold? It means your a shumck. Those gold coins would be worth a lot more in your hands then the real owners who hold them in a vault. And if per chance that we get a massive full halo corona that takes out the electric grid. Yes it might be far fetched. But it did happen in the age of the telegraph. And it did happen in Quebec in the 1990's. You want to invest in gold that you dont posess, And can only get acess to by landline or the internet, Fine. What happens when the net goes down. Or the electric grid goes down? Sorry that gold you so revere is worthless in NY city when you cant get it. And to answer your question, Why in the hell, In a time of crisis with no communications would I buy that toilet paper you say is worth a lot? For all I know you could have sold 100 copies of that toilet paper. You want something that will be worth something when the crap hits the fan, Then buy ammo. A brick of .22 LR will barter you more than that piece of toilet paper that says you own gold in some far way bank. [/quote] Old James |
Мишель Send message Joined: 26 Nov 13 Posts: 3073 Credit: 87,868 RAC: 0 |
You want something that will be worth something when the crap hits the fan, Then buy ammo. A brick of .22 LR will barter you more than that piece of toilet paper that says you own gold in some far way bank. You assume that at that point gold is still worth something. But why? In a time of such crisis, gold is pointless, it serves no purpose, and its value turns out to have the same source as that paper: namely our collective imagination. You would be much better off trading actual toilet paper because at least that stuff is useful. Honestly if you are worried about such a crisis, I would suggest betting on a bartering system. |
Gordon Lowe Send message Joined: 5 Nov 00 Posts: 12094 Credit: 6,317,865 RAC: 0 |
You want something that will be worth something when the crap hits the fan, Then buy ammo. A brick of .22 LR will barter you more than that piece of toilet paper that says you own gold in some far way bank. I think the ammo is right on target. ;~} The mind is a weird and mysterious place |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
You want something that will be worth something when the crap hits the fan, Then buy ammo. A brick of .22 LR will barter you more than that piece of toilet paper that says you own gold in some far way bank. First off I agree with you that gold will be useless in a crisis. More so if you only have a piece of paper that says you own it. And barter will be how things work in such a crisis. As for toilet paper. Make me wish I had saved all those old sears catalogs. My parents who were raised during the depression, Said that they liked the black and white edtions better than the ones in color. The black and white pages were softer after you crumpled them up. If you had a warehouse of TP in a crisis you could be king. [/quote] Old James |
Bob DeWoody Send message Joined: 9 May 10 Posts: 3387 Credit: 4,182,900 RAC: 10 |
Gold will always be worth a lot more than any other metal if and when world governments collapse. At that point food will be the most valuable commodity. Bob DeWoody My motto: Never do today what you can put off until tomorrow as it may not be required. This no longer applies in light of current events. |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
Gold will always be worth a lot more than any other metal if and when world governments collapse. At that point food will be the most valuable commodity. You cant eat gold for sure. If the world collasped Id rather barter food for ammo. You can keep your gold. And if you have enough ammo on hand and know how to use one shot to get game You can barter that excess meat you cant eat for other things. And dont forget that the bow and arrow is just as efficent at getting game as a firearm. I might take gold in a crisis. Physical gold, Not some piece of paper saying you own it. I will say you can wipe yourself with and walk away. [/quote] Old James |
Wiggo Send message Joined: 24 Jan 00 Posts: 34744 Credit: 261,360,520 RAC: 489 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. Over here you can buy 1-5oz gold bullion that I know of (comes with stamped serial number and certificate of authenticity) that you can personally hold on to, but now is certainly not the time to buy gold in any form financially Gordon, Gold and Silver Prices - 100 Year Historical Chart. ;-) Cheers. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30651 Credit: 53,134,872 RAC: 32 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=AmEagUnc |
betreger Send message Joined: 29 Jun 99 Posts: 11361 Credit: 29,581,041 RAC: 66 |
According to this program most all of europe's, Canada's and the USA's gold has disappeared. Speculation is that China has most of it with India not far behind. Most gold trading on the commodities markets is only either electronic or on paper with nothing to actually back it up. Pretty but very expensive. |
©2024 University of California
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.