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Join the contestHistory repeating. There are always a lot of bag holders.My condolences to all the new bag holders.
So true, and the root of ALL evil not money.Greed is a demon.
That is what the rest of the worldwide financial markets are finding out.So, a value of around $300B? That isn't shit. US government deficit spends more than that much money EVERY MONTH.
650M oz in 1941... Nothing has been added removed "in the last several years..."So basically #502.3 million ounces are missing but none have been added or removed.
So basically #502.3 million ounces are missing but none have been added or removed. Sounds like solid US gov. accounting. Kind of like the Pentagon audits that show billions of dollars and hardware unaccounted for but nobody knows where it is. Probably the best Ponzi scheme ever imagined!!
- Amount of present gold holdings: 147.3 million ounces. About half of the Treasury’s stored gold (as well as valuables of other federal agencies) is kept at Fort Knox.
- Highest historic gold holdings: 649.6 million ounces (December 31, 1941).
- The only gold removed has been very small quantities used to test the purity of gold during regularly scheduled audits. Except for these samples, no gold has been transferred to or from the Depository for many years.
Nothing has changed since February 22, 1977It's in a bank in the middle of Beverly Hills under somebody else's name.
Thank you,
MrSmith
Pretty sure that's the last time there was an audit.Nothing has changed since February 22, 1977
Every year the gold in Fort Knox is ‘audited’ by checking the official joint seals that were placed on all vault compartments during the continuing audits of U.S.-owned gold from 1974 until 1986, when allegedly 97 % of the (Deep Storage) gold was inspected. However, a Freedom Of Information Act request I’ve submitted in order to obtain all audit reports could not be honored. Seven reports are missing.Pretty sure that's the last time there was an audit.
Could be several conditions that are rapidly changing. Some of it is just the "cycle". Some of it is the paper gold traders. A lot of the discussion has to do with the "perspective" of both the reporter as well as the reader. I watch the actions of some of the oldest societies in the world. These societies (the people, not the Governments) are steadily stockpiling. Another factor that is skewing the view is attempting to link gold to the purchasing power of the USD. This is nothing more than chasing a mirage. When / if a $1,000 USD will purchase an ounce of gold, America will be moving in the right direction.Stumbled into a couple of articles at DM. UK stopping minting for other countries, repurpose staff to reclaim gold. They state demand for coins is down worldwide.
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Royal Mint to stop making coins for overseas countries after 700 years
The Royal Mint first started making overseas coins in 1325. But from December 2024 the Royal Mint will stop making these overseas coins, and will instead focus on making coins for the UK.www.dailymail.co.uk
This article mentions supplying One customer:
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The Royal Mint aims to sell £100m of coins to AMERICA
Americans are already keen on UK-made coins, and the Mint said it has seen a 118 per cent increase in sales to the US since 2022.www.dailymail.co.uk
Given the financial crisis world wide saying demand is down is a given. Could this be a smoke screen story, not enough bullion inventory or the opposite the need to stock pile bullion?
Amen.… When / if a $1,000 USD will purchase an ounce of gold, America will be moving in the right direction.
Stumbled into a couple of articles at DM. UK stopping minting for other countries, repurpose staff to reclaim gold. They state demand for coins is down worldwide.
![]()
Royal Mint to stop making coins for overseas countries after 700 years
The Royal Mint first started making overseas coins in 1325. But from December 2024 the Royal Mint will stop making these overseas coins, and will instead focus on making coins for the UK.www.dailymail.co.uk
This article mentions supplying One customer:
![]()
The Royal Mint aims to sell £100m of coins to AMERICA
Americans are already keen on UK-made coins, and the Mint said it has seen a 118 per cent increase in sales to the US since 2022.www.dailymail.co.uk
Given the financial crisis world wide saying demand is down is a given. Could this be a smoke screen story, not enough bullion inventory or the opposite the need to stock pile bullion?
Agreed, but as long as our debt is so high it can never be repaid it's a fantasy that gold will ever be linked to our failed fiat dollar as a form of currency. About 5 seconds of watching the debt clock ticking will make you realize just how screwed we are as a country run by crooks........Could be several conditions that are rapidly changing. Some of it is just the "cycle". Some of it is the paper gold traders. A lot of the discussion has to do with the "perspective" of both the reporter as well as the reader. I watch the actions of some of the oldest societies in the world. These societies (the people, not the Governments) are steadily stockpiling. Another factor that is skewing the view is attempting to link gold to the purchasing power of the USD. This is nothing more than chasing a mirage. When / if a $1,000 USD will purchase an ounce of gold, America will be moving in the right direction.
AgreedI read that to say that the demand for gold coins and bullion is so high, they need to ramp up production of their own gold currency; not enough capacity to produce gold currency for other countries outside the empire (commonwealth?…whatever they’re calling the UK/Canada/Australia, etc. these days).
I might be reading too much between the lines, but personally see that as another indicator to buy more gold.
But then again, TBH, I’ve never needed a lot of incentive to sink money into hard assets.
Agreed, but as long as our debt is so high it can never be repaid it's a fantasy that gold will ever be linked to our failed fiat dollar as a form of currency. About 5 seconds of watching the debt clock ticking will make you realize just how screwed we are as a country run by crooks........
Reacted with sad face because true…The plan is that it will all be repaid
Just as it always has
The government will send the Uniform Hangers to take everything that everyone has and turn it over to the bankers.
The plan is complete enslavement and you will be a serf with no ownership of anything.
That's the long game of how the debt is "repaid"...
I agree.........Looking into the future, while understanding the "path" (political, financial, cultural, etc) America has been on since 1933..... Very soon, "Something" is going to have to be put in place to back the USD. I follow the US Dollar Index (DXY) but it has nothing to do with the purchasing power of the USD. So, 10 years from now, what will be backing the USD ?Agreed, but as long as our debt is so high it can never be repaid it's a fantasy that gold will ever be linked to our failed fiat dollar as a form of currency. About 5 seconds of watching the debt clock ticking will make you realize just how screwed we are as a country run by crooks........
somehow I don’t think that plan is going to work but it makes for a great debate!!The plan is that it will all be repaid
Just as it always has
The government will send the Uniform Hangers to take everything that everyone has and turn it over to the bankers.
The plan is complete enslavement and you will be a serf with no ownership of anything.
That's the long game of how the debt is "repaid"...
Going back to the begging of time and considering all the gold ever mined and processed, how much gets worn out?
The gold used for atomic development contained radioactive propertiesand medical imaging are the examples of gold gone bad, I’m sure more uses exist that make gold undesirable or damaged beyond being valued. Mining technology continues to advance allowing for better gold yield, is this mineral really worth its value or has man created a system based on 3000 years ago some shiny stuff that was laying on the ground. As hungry stomachs become more common in the future are pollinators and clean water the gold of the future?
Man will always put value on "something" that makes it convenient and secure for barter.Going back to the begging of time and considering all the gold ever mined and processed, how much gets worn out?
The gold used for atomic development contained radioactive propertiesand medical imaging are the examples of gold gone bad, I’m sure more uses exist that make gold undesirable or damaged beyond being valued. Mining technology continues to advance allowing for better gold yield, is this mineral really worth its value or has man created a system based on 3000 years ago some shiny stuff that was laying on the ground. As hungry stomachs become more common in the future are pollinators and clean water the gold of the future?
“What else,”seems like the ability to mass communication with like minded people is worth its weight in gold, just ask Alex Jones and SteveBannon. Has to be a reason they are both being silenced temporarily. David Bellavia?1) Clean water
2) ‘Food’ … likely to include long pork for some areas, at least for awhile
3) Prostitution/pimping, to include sexual slavery
4) Ammo…a drink will cost a round of .22LR, a couple 9mm or .45 rounds buys you a gallon, etc.
5) General barter for goods and services…eventually
6) Gold/silver
7) Gemstones
8) ?
9) Nuka Cola bottle caps
What else?
“What else,”seems like the ability to mass communication with like minded people is worth its weight in gold, just ask Alex Jones and SteveBannon. Has to be a reason they are both being silenced temporarily. David Bellavia?
Bellavia worked closely with Bannon during Trumps first successful run for President.
Picked up some more pieces this week. I’m starting to look like Mr. T.
Sold some pieces to remove the last of the indebtedness.Picked up some more pieces this week. I’m starting to look like Mr. T.
Smart at the current price level. I still expect to see gold below $2,000 an ounce by end of year.Sold some pieces to remove the last of the indebtedness.
And that's when the spread (premium) between physical and paper will hit an all time record.Smart at the current price level. I still expect to see gold below $2,000 an ounce by end of year.
Smart at the current price level. I still expect to see gold below $2,000 an ounce by end of year.
It would be cool if gold went to $1,400 per ounce so I could start a jewelry store.And that's when the spread (premium) between physical and paper will hit an all time record.
That is how the heavy hitters are going to play those holding paper gold. When the smoke clears the physical will have much more value.Buy hi sell low?
It’s better to do it the other way around.Buy high sell low?
Slice it and dice it... It's still paper.
Gold meets digital dollars: Tether launches aUSD₮ – a stablecoin with gold backing
(Kitco News) – Tether, the company responsible for issuing USDT, the top stablecoin by market cap, continues to expand beyond fait-backed stablecoins with the launch of Alloy by Tether, a new asset-backed token that uses Tether Gold (XAU₮) as collateral.
“Developed by Moon Gold NA, S.A. de C.V. and Moon Gold El Salvador, S.A. de C.V., both of whom are members of the Tether Group, Alloy by Tether aims to redefine stability in the digital economy by combining the strengths of a stable unit of account with the security and reliability of gold,” the company said in a press release.
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Gold meets digital dollars: Tether launches aUSD₮ – a stablecoin with gold backing
The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.www.kitco.com
I look at it this way. A "flip of a switch" and paper anything goes away. Going to take a shovel and some sweat to dig up that physical in the back yard. History has proven that time and time again.^^^^^^^Me too, and how is paper gold any different than any other exchange traded commodity? Everyone takes risk but you know the story about "the bird in the hand" just saying.........
I look at it this way. A "flip of a switch" and paper anything goes away. Going to take a shovel and some sweat to dig up that physical in the back yard. History has proven that time and time again.
I agree. I think what Hobo Hilton is alluding to is that the can't lose his physical gold at the flip of a switch. I laugh at the people I see buying gold as an investment. It's literally just a form of value storage. They have to convert their gold to fiat currency, and rarely ever will they get spot. Then that fiat currency is spent at the current dollar value/strength.Holding physical gold as an investment that you are trying to make money on and buy and sell is not a profitable thing to do short term unless you are actually in the gold selling business. That is the same with many things.
Anyone who think's PMs are anything but transactional items that can be used outside the system are myopic. The only reason I sold was to get out from under a weak dollar and stifling interest rates. I sold no more or no less and used the proceeds before the USDs value dropped (or climbed more). Folks that know me say "Wow! It's like you got a raise!" No, I can just maintain my life style as the dollar weakens and not be beholden to any banking institutions!I agree. I think what Hobo Hilton is alluding to is that the can't lose his physical gold at the flip of a switch. I laugh at the people I see buying gold as an investment. It's literally just a form of value storage. They have to convert their gold to fiat currency, and rarely ever will they get spot. Then that fiat currency is spent at the current dollar value/strength.