Treasure Classifieds Forum

Hey there, do you see what I see? Gold is almost at 1300. Crazy stuff but I feel it can go a little higher - maybe even 1350.
What do you say?

I've not saw! But then again I don't know much at all on this subject. Other then my grandfather having a lot of stock with gold mines and such. And that gold was like 2k+ awhile ago right? I remember it was doing really well and then plummeted.. That's about it. But IMO which isn't much, I'd say all precious metals and jewels should keep going up. But then again..what do I know

They opened the Chinese metals commodities exchange recently. The purpose the Chinese opened the exchange was twofold, one to have an exchange for gold that could be transacted in Jaun (the Chinese dollar) and two, to be able to take some control of the price outside of the manipulation by LIBOR, COMEX and all the paper trades the banks were handling. Recently Deutsche Bank, the biggest bank in Germany, confessed to German courts that they, and other banks they had financial relationships with, have been manipulating the paper price of gold for many years. And they are cooperating with authorities in reference to who was in collusion with them. With the revelation of these events, the gold and silver market has become bullish. How far this will go will depend on what the (Petro) US Dollar does. And China continues to devalue its currency as well. The bet is that China will go to a gold backed currency. They have a lot of gold. A lot!!!!! If they do, and toss the US dollar, physical silver and gold will skyrocket.

This is only the beginning of a real serious financial war that has been in motion for about the last three years. It could be a lot of real bad trouble for the US if the BRICS go ahead and break away from the international US system. If people in the world start cashing in their US dollars and Treasuries, the financial system of the USA is TOAST. It'll make 2008/9 look like a weekend at the beach. Even the Depression of the 30's won't compare.

Buy gold while it's still cheap!

Ed

It won't do me any good unless I find some.

Gold going up?
Explains why our gas prices have also been going up over the past 2 weeks.
It a low of 82 cents per liter and now up to 1.05 per liter. It was at 1.36 at one point beginning of last year.

Sat in front of dairy Queen Saturday and just watch the amount of cars passing thru the intersection. Gas misers and gas guzzlers whipping by, some accelerating as if they had lead feet. Thousands of cars passed by during the 15 minutes.
Imagine this going on at the very time at millions of intersections across the US alone on a constant basis, in cities that are bigger than ours.
Makes you wonder when the taps will run dry.............and how many dinosaurs, animals  and plants died and then  transformed into oil, so we can drive.
Makes you wonder in a macabre way with so many  people in the world, when deceased and aged in a pressure induced container, could fuel future needs by the ever growing population. A good movie plot for The Twilght Zone or Hitchcock TV series. "The Renewable Resource Within All of Us"

I have no clue , but if it does go back up , my gold jewelry from last summers hunting will probably find a new owner.....

Pat

Wow Ed, I didn't know that information about China. Crazy stuff there and I hope we can survive it. They are buying up large business's in the US too. They bought a rare earth mine and a huge cement company, for millions of dollars.
Someone told me that there is a ratio of copper price to gold price but it sounded crazy to me - gold should be 70 times the price of copper scrap. So if that is the case gold is heading for 1350 plus in the short term.
Now if what you stated about China and gold and of course the US economy --- then we will certainly see the price go up even higher.

Soon, I will only hunt for gold rings and stuff, forget the silver and the clad....ha ha ha

Heard on RTV news that Obama is trying to tell the world that it should be the one to dictate the worlds trading................instead of letting China get the upper hand.
Sounds like the EU is getting upset about that. Local EU communities don't want
to allow Missouri Gama bread to be sold in Gama, located in Europe known for its speciality Gama bread..........or Texas Nuremberg sausage sold in Nuremberg. Obama is ramming this down their throats.

From what I saw on the news this morning, its no wonder why there is so much hatred towards the US gov't by people in countries overseas.

Will be interesting to see where metal and oil prices go to. I get a totally different perspective of the US since I moved to Canada.

Sven, the dollar has weakened in the last few weeks and that is also helping the price of gold to rise. On the oil front - they have been saying that there is too much on the market and that it is an oversupply issue.
Had I know you moved to Canada - I could have traded you some coins for us before you left....ha ha ha