Posted - 2011.06.20 23:44:00 - [3]

 

They making gord trading irregar? How do I make the dorrars now? No gord farming!

Posted - 2011.06.20 23:53:00 - [5]

 

I hope Brujo's house down in Panama has a spare room.

Posted - 2011.06.21 00:17:00 - [7]

 

Originally by: Herzog Wolfhammer

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I hope Brujo's house down in Panama has a spare room.

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LOL :P mine is filled already with expats from my own country Guesss it's true, you have a Chavez up there too? Flee while you can?

Posted - 2011.06.21 00:39:00 - [9]

 

Originally by: Akita T

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Originally by: Raw Dog

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Basically what this all stems from is that the metal the coin is made of is worth more than the actual coin. now there some market mumbo-jumbo when it comes to gold and silver due to the increase in price due to the drop of the American dollar (in the US, obviously) but its to stop the physical drop of the dollar by magically making everyone hold on to there gold, messing with the supply and demand for the stuff...This is how it was explained recently i guess... from a some-what knowledgeable source.

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/facepalm

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I don't know what is happening here but I bask in the Chaos of this thread!

Posted - 2011.06.21 02:32:00 - [11]

 

Originally by: Akita T

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Edited by: Akita T on 20/06/2011 23:10:49

That's not quite what it means.

As long as you actually RECEIVE the metals within a month (or somebody physically holds them for you), it's all fine and dandy.
This is directed at preventing speculation via FOREX//metals margin trading // futures markets, where no actual physical items ever change hands.
Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.

But I guess "PANIC! They're stealing our gold again" makes for better reader numbers.
Alternatively, this could be interpreted as either tinfoilhattery or an actual step towards the distant end goal you describe.

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I thought that there was something wrong with the title of this thread. The US government would NEVER be able to make trading gold illegal - so many products utilize gold. Some electronics have gold contacts, many metals are alloyed with gold to reduce corrosion, platinum is used as a catalyst to react away pollutants in cars and increase the energy efficiency of wood burning stoves.

Posted - 2011.06.21 03:56:00 - [13]

 

Edited by: Ann Can on 21/06/2011 03:59:05
I had a longer post than this ready to go, but screw it. Short version ...

Originally by: Raw Dog

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Uhhhh...

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The dollar has no link to gold at all. Last time it had any link to gold was 1971. Nixon closed the gold window and shutdown the Breton Woods agreement.

Some precious metal coins do have value beyond their weight. Those that can maintain this extra value are typically old and in good condition. Also government minted coins do tend to retain more hand value within national borders due to recognition and cultural reasons. The others are marketing for suckers.

US Member Banks have 2+ trillion in excess reserves, that's 18 trillion waiting to get out the door. No one can say how soon, but Weimar is gonna look like a picnic. Ride the gold pony, YeeHaw!

Even with margin changes at Forex, Comex, etc, the Goldsmith and the Wicked Witch are still very much in business. The ETF markets are huge but in a pickle, check the backwardation - something is not quite right.

Tl;DR version - If you want to invest in precious metals, make sure to get it in your hands, don't buy in denominations larger than 10 troy ounces. Don't buy coins that are not printed by a government mint, if you want the best value, buy bars and blanks. Don't invest in silver unless you can handle a wild ride, it is Gold's crazy little cousin.

Posted - 2011.06.21 10:53:00 - [15]

 

There are a lot of pawn brokers in the UK that offer money for gold to the poorer folks in the UK. In reality they offer poor exchange rates.

Posted - 2011.06.21 12:54:00 - [17]

 

Originally by: Vogue

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There are a lot of pawn brokers in the UK that offer money for gold to the poorer folks in the UK. In reality they offer poor exchange rates.

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I have seen this here in Norway as well. Luckily NOK is still fairly strong and stable. Guess it helps that we actually got lots of oil to back it up.

Posted - 2011.06.21 13:16:00 - [19]

 

Originally by: Akita T

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Edited by: Akita T on 20/06/2011 23:10:49

That's not quite what it means.

As long as you actually RECEIVE the metals within a month (or somebody physically holds them for you), it's all fine and dandy.
This is directed at preventing speculation via FOREX//metals margin trading // futures markets, where no actual physical items ever change hands.
Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.

But I guess "PANIC! They're stealing our gold again" makes for better reader numbers.
Alternatively, this could be interpreted as either tinfoilhattery or an actual step towards the distant end goal you describe.

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Thank you AkitaT! That is exactly correct. Gold/Silver/Metal trading had pulled the value of those metals so far away from the actual supply/demand economics that the value of the metals was only on paper. Many of the people driving up prices did not actually hold the metals - they bought a paper contract to buy the metals, then traded it to someone else, who traded it to someone else, who traded it to someone else (each of whom put a small profit margin on it). Then that last person who bought the contract actually recieves the metal, and uses it for something.

For another analogy, its like a computer monitor. Company A makes it, who sells the *rights* to sell the item to company B, who adds a 5% profit, then sells the rights to company C, who adds another 5% profit. Company C then sells the rights to Company D, who adds a 5% profit again. Company D finally sells the rights to sell the monitor to Best Buy (after adding 5% profit). Best Buy then actually receives the monitor, adds their 5% profit, and sells it to you. So if the monitor cost $200 when it was made, when Best Buy actually sells it to you, it will cost $243.10.

Originally by: baltec1

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They should do this for oil.

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If only it was that easy. Oil is even more of a victim of the same thing, and nearly everyone knows it... but money talks, BS walks.

Posted - 2011.06.21 16:38:00 - [21]

 

Originally by: Brujo Loco

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Originally by: Herzog Wolfhammer

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I hope Brujo's house down in Panama has a spare room.

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LOL :P mine is filled already with expats from my own country Guesss it's true, you have a Chavez up there too? Flee while you can?

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You don't want me around. In a week you will be out of all beer and wine and your pets will be walking funny.

Posted - 2011.06.21 19:05:00 - [23]

 

Edited by: Herzog Wolfhammer on 21/06/2011 19:22:26

Originally by: Slade Trillgon

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Originally by: Herzog Wolfhammer

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I hope Brujo's house down in Panama has a spare room.

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I just want to point out that if **** really starts to hit the fan on a world level, moving to what could end up being one of the most contested pieces of land in the Americas may not be the best move.


Slade

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Remember there are two kinds of countries in this world.

Those that are "in" and have lots of "democracy" complete with corrupted news organizations to keep people misinformed enough though the educational systems were already shot to hell to make sure people can't think anyway. So when 51 percent of idiots votes your property and freedom away, you are told "This is democracy!!!!!1! What you don't like it? It's the only least worst system.... uhhhhhh.... why don't you go live in China or something?". In the end the only freedom you have left if the right to complain about not having any freedom.
Then there are those countries that are not "in", where Montsanto does not own the agricultural departments, the banks don't own the banking and finance ministers, and the oil is not pegged in US dollars, if any oil, or the US is not permitted to use as a vassal state.

Those nations will be getting bombed into democracy sooner or later. All that freedom is dangerous. Somebody somewhere might do something bad.

There
Is
No
Escape

Posted - 2011.06.23 17:51:00 - [25]

 

Originally by: Herzog Wolfhammer

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Edited by: Herzog Wolfhammer on 21/06/2011 19:22:26

Originally by: Slade Trillgon

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Originally by: Herzog Wolfhammer

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I hope Brujo's house down in Panama has a spare room.

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I just want to point out that if **** really starts to hit the fan on a world level, moving to what could end up being one of the most contested pieces of land in the Americas may not be the best move.


Slade

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Remember there are two kinds of countries in this world.

Those that are "in" and have lots of "democracy" complete with corrupted news organizations to keep people misinformed enough though the educational systems were already shot to hell to make sure people can't think anyway. So when 51 percent of idiots votes your property and freedom away, you are told "This is democracy!!!!!1! What you don't like it? It's the only least worst system.... uhhhhhh.... why don't you go live in China or something?". In the end the only freedom you have left if the right to complain about not having any freedom.
Then there are those countries that are not "in", where Montsanto does not own the agricultural departments, the banks don't own the banking and finance ministers, and the oil is not pegged in US dollars, if any oil, or the US is not permitted to use as a vassal state.

Those nations will be getting bombed into democracy sooner or later. All that freedom is dangerous. Somebody somewhere might do something bad.

There
Is
No
Escape

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So is Panama an "in" or and "out" country?

/redundant question


Slade

Posted - 2011.06.23 22:10:00 - [27]

 

Originally by: Akita T

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Quite frankly, I believe the whole margin trading business should be made illegal all across the globe, period. Especially shorting.

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This ^^^^

And any other "creative" form of trading. It's nothing but ways for people to mask ripping other people off and they get more and more "creative" with their scams every year.

Make the **** work like a any of that stock market/commodities etc is supposed to do. Invest capital to get a return on your investment...not a way to magically make fake money real...