Comments on: A New American Gold Rush

In The Dark Economy, There's A Silver Lining: Gold

[brianbwb-2009]

"a "dollar" is--a certain amt. of GOLD or SILVER"
Posted by twohogsfn

Everyone who says this, including Steve Forbes, doesn''t answer the next 3 and most obvious questions;

1. From where will the US government get enough gold to back the currency in circulation, (don''t forget, Nixon sold the treasury''s gold assets, because during the Vietnam debacle the war profiteers like Bechtel, etc., stole 15 trillion from the treasury from 1956 to 1972, remember the 6,000 screwdrivers?)

2. How will they then temporarily stop the economy in order to convert to a new tender, (sooner or later, the current bills can no longer be legal tender) and lastly,

3. What will they do to prevent the anarchy that will result from millions of working class people suddenly "kicked out" of the economy because they don''t own any gold at the time of the conversion?

Like most traps such ideas look logical only if one unwisely ignores the human misery, and the resistance to it, that must logically follow.

[piercetheval]

...the only physical things of value are land, seed, family, friends and the means to protect the other four.

[piercetheval]

...Our present dollar is worth aprx. 49 cents to what it was when gold was 400 dollars per oz. this is because of the fiat money we presently call "legal tender". Our present currency system is based on ''usury''. Usury is a sin, that is why Jesus drove the money chagers from the temple. A 20 dollar gold piece could buy the the finest suit made in 1800 AD. A 20 dollar gold piece could buy you the finest suit made in 1900 AD. Today a 20 dollar bill won''t buy you the tie. When will you learn the further you drift from Gods'' laws the harder the lessons become?

[twohogsfn]

bkotarsk--the dollar is already worth 3cents from what it was worth 70 yrs. ago[it''s called loss of purchasing power]be patient as it will soon be worth $o [as all "fiet" currencies must do]

[twohogsfn]

from these postings i see the average american is alive & well [stupidity runs rampent]few of you know a bannana from gold. carry on in your ignorance [ship of fools]

[l8c6]

The only time gold will be accept under this regime is when a nuclear bomb strikes the Washington, D.C. then gold would be used for trade. Otherwise, bonds and treasury will be king - unless the U.S. government becomes so corrupt, it pospones or nulls its treasury notes. This is so boring . . . some ole song and dance.

Posted by mcv57


Gold is not food, clothing and shelter. You can''t eat it, sleep in it or do much else with it other than look at it so, if society is devastated gold will most likely be worthless. If it has any value it will be dangerous to possess and use it for purchasing. I mean, the man with the gold stashed in his house will be beaten and robbed if it has any use toward purchasing essentials.

[twohogsfn]

toad72-get real. sell our gold & start allover again?? [not to smart]the problem is,the $ is backed by hot air. how bout we go by the constitution? a "dollar" is--a certain amt. of GOLD or SILVER

[l8c6]

Gold was forgotten and out of favor for years. The fact it''s being talked about now means it will tease investors for awhile, they''ll hang on. Eventually it will either give them little gain, lose them some or burn their behinds for the next 20 or 30 years till it resurges again.

[l00ker]

if you buy anything right now you are a FOOL!


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Posted by joyous88 at 10:17 PM : Jan 25, 2008


I disagree. I don''t think that gold will fall below $800.00 per ounce fall a long time. We are now in a mega bull phase, and it will not blow off until gold tops $1000.00, with a pull back to about $920.00, and then on to about $1100.00. And that''s possible this year. The falling dollar, mortgage crisis, Chinese, Indians, Japanese, and Middle East countries are the drivers. They need somewhere to park their surplus greenbacks in order to maintain their spending power. In 2000, gold was at about $252.00 per ounce.

[mcv57]

if you buy anything right now you are a FOOL!

Posted by joyous88

If you are welfare or on Social Security, its your obligation to spend. You are part of the government money machine that must circulate the greenback; otherwise, WE WILL SEE the DEPRESSION.

[joyous88]

if you buy anything right now you are a FOOL!

[mcv57]

Not that I can afford it, I would buy gold if I could afford it. I don''t think it would matter anyway. Upon the crash, gold is going to be worthless anyway. The government will desperately reinstall the value of money and ban gold as tender for commerce.

The only time gold will be accept under this regime is when a nuclear bomb strikes the Washington, D.C. then gold would be used for trade. Otherwise, bonds and treasury will be king - unless the U.S. government becomes so corrupt, it pospones or nulls its treasury notes. This is so boring . . . some ole song and dance.

[cbsblogger]

The government says inflation is low. Yet the government at all levels (local state federal, universities, etc) finds it impossible to keep their budgets constrained to their quoted level of inflation....CPI. That tells me the government CPI is totally hogwash.

[cbsblogger]

I''ve been a major GOLD bull since 2002 and before. All indicators led in that direction while all the so-called market gurus said that it was not going to happen.

That said.

There will be a pull back ... maybe to 700-750 per ounce, and then there will be another leg up. With the current state of finances and uncertainty in the world it is hard to figure what the catalyst for a gold sell off will be, but it will come. Keep some powder dry.

Then it''s time to buy again.

[l00ker]

Around 1986, platinum was around $500.00 per ounce; today, platinum is $1600.00 per ounce. As our own old man Ron Paul says, gold is the standard, and will one day be near or over $2000.00 per ounce. Better get some.

[shanev137]

jjarden - You''re absolutely right.

Anyone remember the hype from the headlines in the newspapers the day the NASDAQ hit 5000? That was the day to dump every share you owned.

It''s just like when cab drivers, landscapers, and waitresses were buying brand new $250K houses with no money down. That was time to sell all the real estate you owned.

[hypnotoad72]

With Fort Knox loaded with the stuff, surely using some of that to pay back some of the debt would smooth the furled brow?

[bkotarsk]

Wow $1000.00 an ounce... That Great Except The Value of the U.S. Dollar will drop to the Equevilate of 3 cents in buying power . We all think The Value of Gold is INCREASING... NO it is only Keeping up with INFLATION

[shanev137]

Great.

Speculators have ruined the stock market, the energy market, the real estate market, the dollar, and now the gold market.

I can''t wait until all the massive strip mining starts up again and ruins our mountains and country side. I love the look of scarred land in the morning.

Maybe if we''re all lucky and privileged enough, we can get a job in a smelter or running a sluice box.

[beehive21-2009]

Gold was $ 37.50/ OZ. then it went to the world standard ,several hundred $$ / oz.why ? the world was not able to deal with the Americans.we are so advanced in the world arena,walking on the Moon ,invented everything mankind whats and desires and haven''t missed a beat.We march to a different drum,the choosen ? ,the keepers of the universe ,creating a better life for man thru goodwill,helping the third worlds to stop bickering and to live in harmony with the past, to develop a future for all living thing,unless we need to eat a deer.