I've been reading for months now about the rule change coming end of June on gold put out by the Bank for International Settlements (BIS), and how it will cut the knees out from under the banks that participate in selling paper gold (unallocated gold) which holds down the price of gold. They have sold the same ounce of gold many times over in the form of paper whenever the price of gold threatens to go up too fast. But something about it did not make sense to me.....WHY. Why would they suddenly decide to end what has been going since 1971 when Nixon ended the last vestige of the gold standard. This article I read this morning by Hugo Salinas Price (read up on him if you're not familiar) shed some light on the subject. It's being forced by Russia and China. http://www.plata.com.mx/enUS/More/414?idioma=2 For years, China has been accumulating gold hand over fist....in addition to being the largest gold miner in the world at around 500 tons/yr (Russia is #3 at 300/yr), they have been buying a lot from the West. I kept wondering what, or when, the end game plan would play out, and this rule change seems to be part of the plan to implement a gold backed currency. China and Russia are also #3 and #4 in silver production. War can be fought on many fronts, I think the economic one is about to approach a beach front landing.
If you don't hold it, you don't own it! Just to quote an expression someone on another forum used to quote.
It's not just paper gold soaking up all that free money. There's crypto too. For years there was an over supply of gold, that's when governments buy it up.
Well, this is interesting...and makes me even more apprehensive about the near future. I just can't see us making it until 2024 with this feeble-minded crook at the wheel. Gold was at $1870 this morning...doing more reading on this and it is actually a very significant event. I might even pull the trigger to purchase some gold now even though I see it as too expensive at its current price. "As a result of Putin's threat, this May the BIS advised that it was implementing new rules to govern international banks, regarding the presentation of amounts of gold which they hold, which are no longer to include "unallocated gold". It has been the operations with "unallocated gold" i.e. "mythical gold" which have allowed the most important banks of Britain and the US to control and suppress a market price for gold. Under the new rules which are to be presented in full on June 28 of this year, the price of gold will no longer be subject to manipulation on the part of the US and the UK, because the most important banks of these countries will no longer be able to count on "unallocated" - i.e. non-existent gold - for their collusion regarding price control of the metal. Russia and its ally, China, have thus cancelled the power of the US and UK to keep the price of gold in a "deep freeze" for so many years. Nobody knows how high the price of gold will be after June 28, but the higher it goes, the lower goes the international value of the Dollar, and of other national currencies that are linked to the Dollar, through the concentration of their Reserves in Dollars. The enormous US imports of Chinese goods will have to fall to a trickle. And that reduction - the result of a return to economic reality - will decimate the standard of living of Americans. A New Age, imposed by Russia and China, will begin on June 28, 2021, as gold regains its age-old function as MONEY." "The enormous US imports of Chinese goods will have to fall to a trickle...will decimate the standard of living of Americans." Maybe. I expect that China would do nothing to hurt its own economy which this would do immediately. We have under estimated Russia for many years economically. They are one of the few countries of the world that can and do stand on their abundant natural resources to keep their economy strong even during a world crisis, trade problems, or etc. Plus, now with the Putin and Merkle gas deal, they got a strangle hold on Germany, as such, on Europe. "A New Age, imposed by Russia and China, will begin on June 28, 2021, as gold regains its age-old function as MONEY." Well, if they manage to pull this off, which seems highly possible, it will indeed cut the knees out from under the USA and most of the western countries...the question will be how the West will react?
Giving gold legitimacy, gives any currency(s) backed by gold legitimacy... and de-legitimizes all others that aren't. It's why Qaddafi was killed. An SDR with a gold back yuan as a component effectively ends the dollar reserve hegemony. This likely will shed some light on the "why" Thread by @grayzonewarlord on Thread Reader App Warfare for the US is "guns & tanks & jets & ships".... for the Chinese it's "unconventional asymmetrical all-encompassing "
I heard this too. There are some economists who say that the artificial suppression of gold and silver price is at the point where it CANT be kept low for any longer without destroying the banks and countries due to money printing, hyper-inflation, and massive world wide debt. Lucky I got started early. Not early enough though.
The plandemic artificially kept the gold and silver supply low. The world's largest silver mine was closed for 3 or 4 months for plandemic reasons and the Canadian and Alaskan gold mining seasons were shortened because of irrational fauci virus fears. Same thing will happen as last time. There was a gold and silver shortage, people bought a bunch of over priced gold and silver, the price went down, they got burned and stopped buying as the price went down, which makes no sense to me and then there was an over supply of gold and silver again.
Historically... when currency paradigms change PMs are the vehicle for how wealth is transferred ... Qaddafi threatening the fiat Dollar/CentralBank hegemony with a Libyan gold-backed African dollar was a huge threat, and ended predictably with Qaddafi being overthrown.... in a country where his people had free healthcare, housing, education, and an annual stipend.... they had no reason to overthrow him... and they didn't. TPTB did. China suddenly backing the yuan with gold would be a game changer for the dollar...
You only get burned if you sell it as you realize your loss at that point. If you measure your wealth in dollars over time you are losing money. If you are measuring in ounces, pounds, acres or gallons ... you are ahead of the game no matter what the current price is.
1982 3/4 ton chevy pickup fully loaded with 6.2l dsl was around 12 grand. 2021 2500 chevy pickup some options, not fully loaded with dsl, 57 grand. dollars being burned by inflation.
But if you buy it cheap you get up to twice as much for the same money. That's kind of what I'm going for.
And that is easy to do as long as you own a crystal ball to tell you "when". I've dollar cost averaged in over the course of 20 years....some I bought under 5 bucks, some I bought at 38. I'm at $14 and change for all of my pile.
I don't understand why ANYONE would sell at a loss. I guess if you get strapped for cash, but you are not investing if that's you. Then you are gambling and you might as well go to Vegas. Its much quicker.
Experience should give you an idea of when there are very low prices. When the fake pandemic made the market crash I went and bought a ton of stuff for around $1/share. They are all in the $10-200 range now. If you are a day trader thats another story. Edit: check this out
Oh, it's really easy to understand. If one is a Speculator and goes out and buy X with the expectation that they will 5-10 times their money in a few days, weeks, months as the price is going up, only to have it drop by 10% one day followed by a 30% drop ... they are more apt to cut their losses ... or even worse, if they were leveraged, they got liquidated because they couldn't/wouldn't cover the margin call. Sometimes you don't have a choice but to buy high and sell low. Never invest/put at risk what you can not afford to lose.
