The Ruiner
Well-Known Member
i had never heard of that, but you are totally right. I am reading that there is no real economically feasible way to isolate the compounds...It seems that this avenue has been long abandoned.
Gold Trend Explained...Very Simple
- Thread starter The Ruiner
- Start date
So jewelry lasts forever, so gold is not "used" for jewelry. In fact 99.8% of all the gold ever mined is still right here on earth in one form or another. Gold doesn't really get used at all. Supply is ever growing, not falling. IE. there is more gold now than at any time in history, and tomorrow there will be even more.
So if supply is ever growing, why does it go up in price?
So if supply is ever growing, why does it go up in price?
BTW the article really isn't about Supply/demand issues for gold, the real issue was that Barrick closed their hedge fund. The hedge fund inversely tracked the price of gold, if gold did well the hedge fund did not and vice versa. When the largest gold miner in the world closes their hedge fund, they are making the bet that the future price of gold will go higher and higher.
boneheadbob
Well-Known Member
Gold is not going up. Fiat is becoming worthless as it always does.
Gold is being bought up by China.
hope & change = starvation and worse for all the useless eaters.
Gold is being bought up by China.
hope & change = starvation and worse for all the useless eaters.
The Ruiner
Well-Known Member
They closed the hedge BOOK, not fund...totally different.
My mistake. It basically means that Barrick will now be selling gold at the market value,Instead of to another conglomerate at set prices. Still a bet that prices will go higher.
Article is from 2009 anyway, its OLD news.
But I digress, I was waiting for you to further explain how we are running out of gold since we have more now than ever before, and tomorrow we will have even more than today.
The Ruiner
Well-Known Member
I know, I actually referenced peak gold in a thread (i dont remember where) but it seemed that no one took any interest...It's also apparent that most people were still, to this day, unfamiliar with that milestone announcement. It was intended as an answer to those that are consistently throwing up the gold/dollar arguments. The two are not entirely coincidental with eachother, but there are mutual, and unique happenings affecting one-another to a certain, but not exclusive degree.
I edited my reply.
The Ruiner
Well-Known Member
Well, technically speaking we cant have more gold than is recoverable (like oil). The point will be reached when it is not economically viable to mine what gold remains (like the oil that will be left in the ground). And like I said, it helps to explain the surge of recent gold prices... It was to help peoples' understanding so that hopefully, the BS of the "falling dollar" being inextricably linked to surging gold prices can be accurately assessed, and discarded.
Its going up because of inflation, fear that the Fed is debasing the reserve currency of the world, causing more demand causing higher prices. It has nothing to do with running out of gold, we have more gold than ever before.
Do we have more oil than ever before, or are we running out of oil?
Do we have more oil than ever before, or are we running out of oil?
The Ruiner
Well-Known Member
If you care to entertain the notion of rhetorical reality, you will always find yourself justified.
If you dont think that declining production is having an effect on prices, I think you are missing a big piece of the puzzle. Just my opinion.
jeff f
New Member
have you bought groceries lately? naa, no inflation there...hahahaha
...
Supply and demand? No way!
The inflationistas would have you believe that the world is ending.
jeff f
New Member
i am kind of surprised that thinking people, like most of you are on this portion of the site, that you think we have exhausted this resource.
incase you havent noticed, 2/3 of the world is covered by water. only 15 % is populated by humans. gold is heavy and sinks.
when panning was used, we only got to a little gold. then came bigger and bigger machines. are you thinking that our machines and capabilities wont be expanded? not smart.
what will be the next technology that allows us to go further? you dont know.
how do you know that planet XYZ isnt loaded with gold, oil, or farfegnugens? oh ye of little faith....
mame
Well-Known Member
Groceries are a bad indicator for inflation; Because of their volatility grocery prices are near useless as an indicator of long term trends. If you compare the CPI to core inflation on a graph together you'd realize this.
Notice how the majority of upticks in CPI are followed with a downward trend resulting in near the same numbers as core inflation? We've experienced upticks like this before, prices will go down again. Long term trends are all that matter.
jeff f
New Member
groceries arent counted in inflation neither is fuel. i know that, didnt just fall off the truck.
now tell my mom that her groceries and gas, that are about 30 percent and 100 percent more expensive respectively, arent making it tougher to live. those are basically the only thing she spends her money on. and its the only thing MOST poor people spend their money on.
jeff f
New Member
i think you better start reading some labels my friend. basically all fruit and vegetables come from other countries. corn is at a shortage because our wonderful govt thinks we should burn it in our cars.
rising food prices certainly is an idication of things....it indicates that poor people will have a tougher time putting food on the table.
maybe i should be looking at this differently. since a majority of poor people are obese, maybe this will thin them down a bit. there ya go, i am a liberal...brilliant!