Southside
Has No Life - Lives on TB
A lot of that going around.I'm so disappointed!
A lot of that going around.I'm so disappointed!
"The new system is going to be gold based"Great bit of logic as long as you ignore that speculators are making bank on bitcoin right now, and it won't stop until the real fiat crash comes; at that point you won't be able to sell it. Maybe after whatever 'new' system comes in. Maybe but it will probably be banned by then.
The new system is going to be gold based, possibly also using silver. How do I know? Because every Central Bank and most countries have been the ones scarfing up record amounts of GOLD the last 5 years. In numbers never seen before.
That's how I know.
As much as I hate the all knowing God also being the government.. they are on to something."The new system is going to be gold based"
You should inform China, as their new system, already up and running, is based on a person's social credit score.
And I think China IS going to go COMPLETELY digital...gold backed"The new system is going to be gold based"
You should inform China, as their new system, already up and running, is based on a person's social credit score.
IDK....And I think China IS going to go COMPLETELY digital...gold backed
I just coined this. This just came to me, original thought:
China reorders its Yen into a digital currency on a verifiable blockchain ledge technology. All Paper or bank account Yen get exchanged for new Chinese Digital Currency (CDC) by a certain date or VOID.. They can do this because they run the country.
They start with however much gold they have, we'll say 100 "units" and divide it by all of the CDC issued at that time. BAM each CDC has X backing BY GOLD. (They would have to vastly denominational for usage) which the govt an say it's "backed by" whether or not there could ever be "DEMAND" for the gold... the only way to exchanged a CDC is to BUY SOMETHING IN CHINA or FROM CHINA or hold on to it. It's value exchange goes up WHEN GOLD DOES, and the CDC is actually a "Share" of the Governments gold.. though it can never be redeemed.
This wouldn't effect their BRICS trading and I suspect it would cause other countries to begin "backing" their currency with gold, but basically only making it usable in house, promoting industry and growth...
c'mon economists, what are the problems with that system? Other than the fact the plebes get only 'ones and zeros" in exchange for their scraps of paper.. in a country the size of china, with it's own full manufacturing base, lacking only really oil... it could issue a gold back, non exchangeable CDC and "Force" everyone over?
Possble? Yay? nay?
China has more gold than any country on earth. Estimates by gold experts range from 20K-40K tons between the gov and the people who have been encouraged to buy gold the last several years."The new system is going to be gold based"
You should inform China, as their new system, already up and running, is based on a person's social credit score.
Yay, nay, heck if I know. The guess from people I listen to occasionally is that oil will start being priced in gold by the BRIICS, gram per barrel something like that, then you change the value of gold by charging 2 grams per barrel. That is how some of them think a 'new' gold standard will start to be implemented.And I think China IS going to go COMPLETELY digital...gold backed
I just coined this. This just came to me, original thought:
China reorders its Yen into a digital currency on a verifiable blockchain ledge technology. All Paper or bank account Yen get exchanged for new Chinese Digital Currency (CDC) by a certain date or VOID.. They can do this because they run the country.
They start with however much gold they have, we'll say 100 "units" and divide it by all of the CDC issued at that time. BAM each CDC has X backing BY GOLD. (They would have to vastly denominational for usage) which the govt an say it's "backed by" whether or not there could ever be "DEMAND" for the gold... the only way to exchanged a CDC is to BUY SOMETHING IN CHINA or FROM CHINA or hold on to it. It's value exchange goes up WHEN GOLD DOES, and the CDC is actually a "Share" of the Governments gold.. though it can never be redeemed.
This wouldn't effect their BRICS trading and I suspect it would cause other countries to begin "backing" their currency with gold, but basically only making it usable in house, promoting industry and growth...
c'mon economists, what are the problems with that system? Other than the fact the plebes get only 'ones and zeros" in exchange for their scraps of paper.. in a country the size of china, with it's own full manufacturing base, lacking only really oil... it could issue a gold back, non exchangeable CDC and "Force" everyone over?
Possble? Yay? nay?
Yep 2200 was the the futures price reported by coin dealer APMEX, they always use the higher futures price not the Kitco price. I think Kitco high was 2195I'm not seeing $2200 anywhere. Maybe people are seeing the futures price. Spot now at around $2180.00
OK, I lost the bet, and owe you a fiat dollar, but I used the last one I had for TP. Sorry.Bet you a fiat dollar it doesn't!
That's okay fiat dollars are stinky and way over valued!OK, I lost the bet, and owe you a fiat dollar, but I used the last one I had for TP. Sorry.
Unfortunately, you have some of it wrong, if the powers that be can implement what they want.As much as I hate the all knowing God also being the government.. they are on to something.
Imagine the economical boom that would occur if you had to be GOOD TO YOUR WORD in all dealings or people EVERYWHERE would just stop doing business with you? If people with a history of making good on their promises and contracts had good credit and could secure more GOOD cheap loans.... That is not a bad system. It would very shortly filter crooks and criminals to almost non-state entities where they would have to learn to feed themselves, farm, COOPERATE trade in VERY SMALL AMOUNTS and make good on promises, agreements and commitments. Some would make their way back into the "credit" world.
We're imagining this would be run by non benevolent, biased motivationed players who would choose to hurt us for being conservative.... I think this system NATURALLY would gravitate to being by and for honest players who want to make money with others folks who have a good history... I mean, if they are trying to dock your credit score for raising your own food, praying, and homeschooling YET PAYING YOUR BILLS AND KEEPING YOUR PROMISES.. The banks would lose out on honest good business/money. Only when a corrupt government OWNS the banks, only money supply and get to grant and deny work and contract.. But there are always local people to lend and go in on prosperous business. the big banks who go PUBLICALLY WOKE, lose business and eventually have the eat the crow and go back to business for business sake, or go under when there aren't enough "woke" clientele to keep them fat & happy.
You got it wrong that it is backed on social score, that is the CREDIT side, the unit of exchange, even if digital, will have to be backed by gold to put "money"(money, unit of exchange, fungible, tangible, non perishable, storable, mobility...) in the system, but it's going to be a very little amount of gold/ to unit. Everything of value will still be valuable, and available for exchange, the largest of which is HUMAN LABOR... physical and mental.... Plenty of it to harness for anyone, including the individual.
so while I loath a more "universal credit score" we are currently tracked to the movement with our phone, social, subscription accounts and credit scores, we participate in a global system for QUALITY OF LIFE and EASE OF LIFE both of which, as Americans we are living in the 99.99 percentile of COMFORT as any humans that have ever lives, and within 99.9% of COMFORT and HEALTH as present day royalty and billionaire Tycoons.. we literally live like kings and queens'\ and eat like pharaohs and emperors. Spices from the far east, meats, cheeses, figs, grapes, beer, fancy wine, aged spirits, motor carts, horses, a small farm with game if we like... We are living in a time of VAST OPPULANCE and amazing wealth THAT CAN ONLY BE DESTROYED THROUGH WAR.. AND THEY"RE GOING TO DO IT. THEY"RE GOING TO PULL THE PLUG AND RUN THIS SHIT... Aaaaaaarrrrrrrrrrrrghhhhhhhhhhhh...
You are likely confusing the leaders telling their people to buy gold as some sign of benevolent wisdom. When the SHTF, their gov just confiscates the people's gold. Bitcoin is banned there, because it would be a way for the people to transfer their wealth out of the country.China has more gold than any country on earth. Estimates by gold experts range from 20K-40K tons between the gov and the people who have been encouraged to buy gold the last several years.
You are confusing the tyranny with the financial structure they saw coming a long time ago (and have been working for aka BRIICS).
Not confusing anything, just stated the fact that they have been encouraging the buying of silver and gold.You are likely confusing the leaders telling their people to buy gold as some sign of benevolent wisdom. When the SHTF, their gov just confiscates the people's gold. Bitcoin is banned there, because it would be a way for the people to transfer their wealth out of the country.
It's much like in this country, where banks run reverse mortgage TV and radio commercials, telling people that they now have the money to remodel their home.
Define 'they' for me, as the world has 7 billion they's and I'm not sure whom you mean. Got any specifics? I had my chem teacher ask me that when I was talking about 'them' and 'they' back during the Vietnam War years since my 'they' kinda encompassed everyone and everything in the wide world of sports, and the Universe.Unfortunately, you have some of it wrong, if the powers that be can implement what they want.
They want the "money" to be perishable, a CBDC that disappears from bank accounts if not used within about 30 days. There would be an almost impossible way to accumulate savings and wealth, therefore making the people completely dependent upon the state. A great reset does not necessarily require war, although that usually is the easiest way toward population reduction, another goal of theirs. They'd likely be fine with famine and pestilences, for awhile.
And, it's on again!
Gold, $2,183, up $26.00
Silver, $25.57, up $.70
I guess today, and this is the outcome. Inflation. We are already seeing it. In spades!Was Powell supposed to speak today or was that tomorrow?
He is done speaking now.Was Powell supposed to speak today or was that tomorrow?
Good stuff.Rick Rule recently said something about silver. RR is a very cautious person when he speaks, and he has been pooh poohing claims of high silver for decades. He has said oh yeah, silver can get to it's old high ($50) but usually snickered at claims of some like Keith Neumeyer saying over $100 or '3 figures'.
RR gave an interview I saw in the last week. He had a secret RR smile on his face as he commented something like "IF gold continues it's run, then silver will reach numbers that nobody could conceive of, .... except the GREEDIEST OF PEOPLE".
Well, Rick Rule has NEVER said anything like that to the best of my knowledge. I have talked to him once or twice back in the mid-late 90's at the West Coast Gold Shows, and I bought all my mining shares from Global Resources when he ran it.
He always was very skeptical, with a smile, when I would talk to him (twice to the best of my recollections) about silver/gold shooting to the moon.
For him to say such a thing now, with that kind of 'secret smile' tells me he knows something. Perhaps the coming 'plan' of either the BRIICS, or the Central Bankers of the West.
Take it as you will
Kenny RogersIn the US both gold and silver are quoted in the federal currency units which are in a freefall. What is the appropriate price of the metal with a currency soon going to be worthless? Well, we do have some empirical evidence of what has happened in similar instances in the not too distant past and further back in history.
View attachment 466132
Venezuela during a hyper inflationary period before the currency reset. The steep drop off was because this particular currency ceased to exist and they instituted a 'new' one. In March 2019 the quote was 4,299,601 per ounce and in Sept 2021 peaked at 7,448,834,693 per ounce.
The more familiar one for most was in Weimer Germany during their hyperinflation;
And this is what is going to happen to gold (and silver) priced in Federal Reserve notes. It is the same ounce of gold and silver as that hasn't changed. What did change is the currency it was valued in. People that held gold in Germany back then and in Venezuela today live very well compared to their countrymen and had portable wealth that they could snatch up assets at firesale prices.
Tough question. I would hope so, but the G/S ratio is still over 85. If the ratio begins to get below 80 on a day-to-day basis then there is a chance that it will occur. OTOH, Central banks around the world are buying Gold, not Silver. Silver has more industrial uses so it should probably catch up at a later time.Wondering if the new base norm for silver has jumped from 20ish USD to 25ish USD?
I don't know about a 'secret smile', but Rick Rule is one of the smartest and well-spoken people I have ever encountered. Fortunately, there are lots of free videos and articles out there with his expert commentary. If you are needing guidance on anything metals/mining related, he's your guy.Rick Rule recently said something about silver. RR is a very cautious person when he speaks, and he has been pooh poohing claims of high silver for decades. He has said oh yeah, silver can get to it's old high ($50) but usually snickered at claims of some like Keith Neumeyer saying over $100 or '3 figures'.
RR gave an interview I saw in the last week. He had a secret RR smile on his face as he commented something like "IF gold continues it's run, then silver will reach numbers that nobody could conceive of, .... except the GREEDIEST OF PEOPLE".
Well, Rick Rule has NEVER said anything like that to the best of my knowledge. I have talked to him once or twice back in the mid-late 90's at the West Coast Gold Shows, and I bought all my mining shares from Global Resources when he ran it.
He always was very skeptical, with a smile, when I would talk to him (twice to the best of my recollections) about silver/gold shooting to the moon.
For him to say such a thing now, with that kind of 'secret smile' tells me he knows something. Perhaps the coming 'plan' of either the BRIICS, or the Central Bankers of the West.
Take it as you will.
Notwithstanding the last several years, a GSR of 70 is still, historically, quite high. The last time I swapped into gold was in 2011 when the GSR was in the mid 30s- I did get lucky and caught it there even after slippage and commissions. I was all back into silver by the time the GSR was back at the upper 70s again. Yup, missed the crazy high of the 120s though... Sure, things can change but the 85 and change we're at now is above my comfort zone. Seriously, there is no better way to double your stack than to swap the GSR when it's favorable. Here are a couple graphics to consider:IIRC, when the ratio drops to around 70 it's time to back up the truck and load with Silver. I could be wrong and would appreciate the opinions of other members.
Instead of saying a 'secret smile' a more appropriate comment might have been a 'knowing' smile. There was something behind those eyes and that smile, and he did say 'silver will rise higher than anyone can conceive of, except the greediest'. Or words to that effect.I don't know about a 'secret smile', but Rick Rule is one of the smartest and well-spoken people I have ever encountered. Fortunately, there are lots of free videos and articles out there with his expert commentary. If you are needing guidance on anything metals/mining related, he's your guy.
I think we did similar trades around the same time. Thanks for the graphics.Notwithstanding the last several years, a GSR of 70 is still, historically, quite high. The last time I swapped into gold was in 2011 when the GSR was in the mid 30s- I did get lucky and caught it there even after slippage and commissions. I was all back into silver by the time the GSR was back at the upper 70s again. Yup, missed the crazy high of the 120s though... Sure, things can change but the 85 and change we're at now is above my comfort zone. Seriously, there is no better way to double your stack than to swap the GSR when it's favorable. Here are a couple graphics to consider:
View attachment 466170
Gold:Silver Ratio | Monetary Metals
Chart of the ratio of the US dollar gold price to the silver price, both bid (to sell the ratio) and offer/ask (to buy the ratio). Chart of the bid ratio of the US dollar gold price to the silver price and Monetary Metalmonetary-metals.com
And a handy reference...
View attachment 466173
Great chart for the last 15 years; just my opinion, but it might be a fool's chart this time around if there actually is a great global crash coming. The "dollar" is trash, even now, and it will become more trashy in the months ahead.Notwithstanding the last several years, a GSR of 70 is still, historically, quite high. The last time I swapped into gold was in 2011 when the GSR was in the mid 30s- I did get lucky and caught it there even after slippage and commissions. I was all back into silver by the time the GSR was back at the upper 70s again. Yup, missed the crazy high of the 120s though... Sure, things can change but the 85 and change we're at now is above my comfort zone. Seriously, there is no better way to double your stack than to swap the GSR when it's favorable. Here are a couple graphics to consider:
View attachment 466170
Gold:Silver Ratio | Monetary Metals
Chart of the ratio of the US dollar gold price to the silver price, both bid (to sell the ratio) and offer/ask (to buy the ratio). Chart of the bid ratio of the US dollar gold price to the silver price and Monetary Metalmonetary-metals.com
And a handy reference...
View attachment 466173
LOLAnd I think China IS going to go COMPLETELY digital...gold backed
I just coined this. This just came to me, original thought:
China reorders its Yen into a digital currency on a verifiable blockchain ledge technology. All Paper or bank account Yen get exchanged for new Chinese Digital Currency (CDC) by a certain date or VOID.. They can do this because they run the country.
They start with however much gold they have, we'll say 100 "units" and divide it by all of the CDC issued at that time. BAM each CDC has X backing BY GOLD. (They would have to vastly denominational for usage) which the govt an say it's "backed by" whether or not there could ever be "DEMAND" for the gold... the only way to exchanged a CDC is to BUY SOMETHING IN CHINA or FROM CHINA or hold on to it. It's value exchange goes up WHEN GOLD DOES, and the CDC is actually a "Share" of the Governments gold.. though it can never be redeemed.
This wouldn't effect their BRICS trading and I suspect it would cause other countries to begin "backing" their currency with gold, but basically only making it usable in house, promoting industry and growth...
c'mon economists, what are the problems with that system? Other than the fact the plebes get only 'ones and zeros" in exchange for their scraps of paper.. in a country the size of china, with it's own full manufacturing base, lacking only really oil... it could issue a gold back, non exchangeable CDC and "Force" everyone over?
Possble? Yay? nay?
Uuuuuuhhhh, we're thereat some point as NO ONE TRUSTS the politicians do to the right thing.