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alloway65

Interesting Headline.........The Secret Return to the Gold Standard!!!!!

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alloway65    10
alloway65

The Secret Return to the Gold Standard.

 

A silent conspiracy will make gold a new currency on January 1, 2013.

 

Central banks and governments are buying gold by the metric ton...

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jwither    10
jwither

Where exactly is this supposed to occur? But in any event, you can put this into the category of fiction. Logistically, there is no feasible method to do it and absolutely no political consensus for it either. If anything, the elite establishment is dead set against it because it would end a very lucrative ponzi scheme. Also think how long it took to prepare for the Euro. I was not involved but the company I worked for at the time (a financial institution) spent over a year modifying its computer systems in preparation.

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alloway65    10
alloway65

I posted a Headline, I did not comment on the Headline one way or the other....but I do have my own views on Silver and Gold as an investment!

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jwither    10
jwither

True, you did not comment on it. But since there is zero chance of it happening in the foreseeable future, it has absolutely no impact on future gold or silver prices.

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alloway65    10
alloway65

Unfortunately I do not have the gift of seeing into the future.......but these days with our World basically being bankrupt....who knows!!!!

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jwither    10
jwither

None of us know the future with certainty but there is one thing that is almost always true; that people will act in their own self interest. In this instance, what this means is that the people who have the most influence to make it happen will oppose and block it until they cannot or it benefits them. And proponents of these claims (the one you are pointing to) will continue to peddle implausible outcomes regardless of whether they make any sense or not. I do not know where you saw this but I suspect that this writer is a "gold bug" of some sort who is trying to get others to either buy metals from them or pay for their newsletter. And if this is not true in this particular instance, it is true much of the time.

 

I know that most here are buillish on the metals. If you are, go ahead and buy them or hold what you have. None of you need rationalizations like this to justify a decision you have already made because it will make zero difference one way or the other.

 

Finally, contrary to what most probably believe, central bank buying is not "bullish" for metal prices because if it was, then the selling they did at the bottom or near it at the end of the last cycle would have been "bearish" and it obviously was not. The Bank Of England sold some or much of its holdings at around $250 in either 1999 or 2001. Contrary to being a "negative", it was just awful market timing.

Edited by jwither

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JANDS    10
JANDS

I'll keep my tools and work the metals for you guys.

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