Gold prices will nearly double to a record $3,000.

[the other mike]

So as oil went up to $10 a barrel today....( when is the last time you heard that 1965 ?), gold is suddenly on the rise. It seems like speculation but is it really market manipulation ?

Central banks' stimulus frenzy amid the coronavirus pandemic will drive gold to a lofty record by October 2021, Bank of America projected in a note.

The firm's analysts lifted their 18-month price target for the precious metal to $3,000 per ounce from $2,000 on Monday, praising gold as "the ultimate store of value" amid the severe economic downturn. After an initial sell-off and subsequent rebound, the safe-haven asset sits near its highest level in eight years, but Bank of America reckons potent easing policies around the world will send its value 50% higher than its all-time record.

Gold prices will nearly double to a record $3,000 as central banks fuel 'financial repression,' Bank of America says

Monetary authorities are spending trillions of dollars to keep economies stable, creating a perfect situation for gold to rally, the analysts said.

markets.businessinsider.com

 

[the other mike]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

Silver is a 'tagalong' that will underperform gold until this catalyst kicks in - Scotiabank

www.kitco.com

 

[Natural Citizen]

The firm's analysts lifted their 18-month price target for the precious metal to $3,000 per ounce from $2,000 on Monday, praising gold as "the ultimate store of value" amid the severe economic downturn.

Exactly!

 

[Natural Citizen]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

People who buy physical gold and silver know what they're doing.

 

[Yarddog]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

Silver is a 'tagalong' that will underperform gold until this catalyst kicks in - Scotiabank

www.kitco.com

You think silver will make it back up to 30 bucks?

 

[iceberg]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

Silver is a 'tagalong' that will underperform gold until this catalyst kicks in - Scotiabank

www.kitco.com

silver doesn't fluxuate like gold does. i got some 5 years ago around $17 an oz. at best i was ahead a little. oh well. it just sits, not going anywhere and won't spoil.

 

[the other mike]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

Silver is a 'tagalong' that will underperform gold until this catalyst kicks in - Scotiabank

www.kitco.com

You think silver will make it back up to 30 bucks?

I have no idea. All I'm investing in these days is lawncare equipment,
and music gear.

 

[the other mike]

Did you know that copper was once more valuable than gold ?

 

[the other mike]

And to any suckers who got conned into buying $50 silver coins, you're still suckers.

People who buy physical gold and silver know what they're doing.

The ones who bought a lot of gold when it was under $300 an ounce ( which was less than 20 years ago) are sitting on a fortune, especially if it ever shoots up to $10,000 an ounce like some believe . ( or maybe they're people who bought high - over $1000 let's say-)

 

[kyzr]

A few of my questions are:
1. Can the US Treasury sell the gold in Ft. Knox and close or re-purpose that facility?
2. 147,000,000 ozs of gold could be worth 441,000,000,000 at $3,000/oz, or $441b, its real money
3. United States Bullion Depository - Wikipedia
4. Plus we'd save the expense of protecting that facility, that starred in the 007 film "Goldfinger" who wanted to make that gold radioactive so it would be worthless, wrecking the US economy.

 

[the other mike]

A few of my questions are:
1. Can the US Treasury sell the gold in Ft. Knox and close or re-purpose that facility?
2. 147,000,000 ozs of gold could be worth 441,000,000,000 at $3,000/oz, or $441b, its real money
3. United States Bullion Depository - Wikipedia
4. Plus we'd save the expense of protecting that facility, that starred in the 007 film "Goldfinger" who wanted to make that gold radioactive so it would be worthless, wrecking the US economy.

If the gold is really there.

Now, this is key: The Federal Reserve is actually a private system, while the Treasury is an arm of the U.S. government. And the Fifth Amendment of the Constitution prevents the government from taking private property without just compensation.

To get around that legality, the “just compensation” was a gold certificate the Treasury issued to the Fed in exchange for its physical gold.

To this day, the Fed carries that gold certificate on its balance sheet.

The Truth About the Fort Knox Gold - Daily Reckoning

The secret asset on the Fed's balance sheet could rock the financial system... and the mystery of the Fort Knox gold, solved this...

dailyreckoning.com

 

[Billy_Kinetta]

A few of my questions are:
1. Can the US Treasury sell the gold in Ft. Knox and close or re-purpose that facility?
2. 147,000,000 ozs of gold could be worth 441,000,000,000 at $3,000/oz, or $441b, its real money
3. United States Bullion Depository - Wikipedia
4. Plus we'd save the expense of protecting that facility, that starred in the 007 film "Goldfinger" who wanted to make that gold radioactive so it would be worthless, wrecking the US economy.

We may one day want to go back on the gold standard.

 

[kyzr]

A few of my questions are:
1. Can the US Treasury sell the gold in Ft. Knox and close or re-purpose that facility?
2. 147,000,000 ozs of gold could be worth 441,000,000,000 at $3,000/oz, or $441b, its real money
3. United States Bullion Depository - Wikipedia
4. Plus we'd save the expense of protecting that facility, that starred in the 007 film "Goldfinger" who wanted to make that gold radioactive so it would be worthless, wrecking the US economy.

We may one day want to go back on the gold standard.

IMHO we need a balanced budget amendment like many of the states have.
We can add a VAT (Fed sales tax) and raise the top rate, and add a remittance tax, and add a transaction tax on the stock market to balance the budget.

 

[Dick Foster]

Actually what it is isn't the

So as oil went up to $10 a barrel today....( when is the last time you heard that 1965 ?), gold is suddenly on the rise. It seems like speculation but is it really market manipulation ?

Central banks' stimulus frenzy amid the coronavirus pandemic will drive gold to a lofty record by October 2021, Bank of America projected in a note.

The firm's analysts lifted their 18-month price target for the precious metal to $3,000 per ounce from $2,000 on Monday, praising gold as "the ultimate store of value" amid the severe economic downturn. After an initial sell-off and subsequent rebound, the safe-haven asset sits near its highest level in eight years, but Bank of America reckons potent easing policies around the world will send its value 50% higher than its all-time record.

Gold prices will nearly double to a record $3,000 as central banks fuel 'financial repression,' Bank of America says

Monetary authorities are spending trillions of dollars to keep economies stable, creating a perfect situation for gold to rally, the analysts said.

markets.businessinsider.com

View attachment 326405

It isn't the value of gold increasing but the value of the dollar decreasing due to cranking up the presses and flooding the economy with worthless paper. The same old shit that has been played out over and over again most recently in Venezuela. Where the hell else do you all think all of this so called emergency bailout funding is coming from?

 

[kyzr]

The shit hits the fan sooner now that the Budget is totally busted.
SS is bankrupt in 2026 and SS was bankrupt in 2037, bet those are a lot sooner now.
WTF?? We do need to raise taxes. or the system collapses....