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8 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

Hahah go ask Saddam Hussein how that worked out for him

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Did exactly that, and provided seed capital to create a online bullion retailer and storage and precious metals pension solution.  We are just about to cross USD highs set back in 11.. Its already

Gold prices will continue to increase until I buy some. Thats the way things normally work

And the financial wizzards of the Chiang Mai Forum will come to the rescue with their infinite knowledge about how to time the market.  Chiang Mai has a dirth of multimillionaries who have become weal

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11 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

In the early 70s Henry Kissinger went to Saudi Arabia and made a deal: in exchange for US protection, Saudi Arabia, and by extension all its oil cartel neighbors, would sell their oil only in dollars.

 

It has worked quite well for both sides, since the Gulf feudal regimes are still in place, and the dollar is still the currency of reference.

 

Those who tried to sell their oil in other currencies are either not here anymore, Saddam and Gaddafi, or under tremendous pressure, like Iran or Venezuela.

 

The US is acting exactly like the mafia, on a much larger scale, using protection racket to keep under its control vast areas of the world.

 

The dollar is the world reserve currency because, beyond oil, many other commodities, starting with gold, are bought and sold using dollars.

 

Think that even Alibaba, a Chinese corporation selling Chinese products, charges its customers in USD, not in Yuans.

 

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13 hours ago, warcy said:

Why must people buy oil using US dollar? Can't they just buy using the currency of the seller? eg. Saudi Arabian money

 

What do you mean by world reserve currency?

Here is an interesting article with lots of data regarding gold and the currencies... 

 

https://www.voimagold.com/insight/gold-price-crosses-2-067-us-dollar-devalues-by-99-against-gold-in-100-years

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6 hours ago, Brunolem said:

In the early 70s Henry Kissinger went to Saudi Arabia and made a deal: in exchange for US protection, Saudi Arabia, and by extension all its oil cartel neighbors, would sell their oil only in dollars.

 

It has worked quite well for both sides, since the Gulf feudal regimes are still in place, and the dollar is still the currency of reference.

 

Those who tried to sell their oil in other currencies are either not here anymore, Saddam and Gaddafi, or under tremendous pressure, like Iran or Venezuela.

 

The US is acting exactly like the mafia, on a much larger scale, using protection racket to keep under its control vast areas of the world.

 

The dollar is the world reserve currency because, beyond oil, many other commodities, starting with gold, are bought and sold using dollars.

 

Think that even Alibaba, a Chinese corporation selling Chinese products, charges its customers in USD, not in Yuans.

 

It's really quite interesting because in the last 5 years Russia and China have been working towards a trade agreement that will exclude the US dollar. This could have huge ramifications regarding their reserve currency status. These uncertainties tend to make people very nervous and that is probably another driver for gold. 

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4 hours ago, AverageBloke said:

It's really quite interesting because in the last 5 years Russia and China have been working towards a trade agreement that will exclude the US dollar. This could have huge ramifications regarding their reserve currency status. These uncertainties tend to make people very nervous and that is probably another driver for gold. 

 

I thought Russia has huge amount of oil, why do people need to buy from the Arab countries?

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12 hours ago, warcy said:

 

I thought Russia has huge amount of oil, why do people need to buy from the Arab countries?

Oil buyers want to be as diversified as possible, so as not be dependent on one or two countries for their energy supplies.

 

So they buy from both Russia and the Middle East, and a few others...

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On 8/7/2020 at 2:29 PM, Brunolem said:

"If all the forces that are possible combine, gold could be 3 - 5k USD this decade."

 

I see gold going way beyond 5K by the end of this decade, because most Western currencies, starting with the USD, are in the final phase leading to their intrinsic value, which is...zero!

 

its possible, I also think that this is a not insignificant possibility but not my probability case. 

 

I have significant stored metal holdings out side of thailand and any event even halfway there secures me for many lifetimes. Its the bet I have been banking on for a while. 

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1 hour ago, Captain Monday said:

So I should sell all my EETFs now😁

Should I go all US dollars or all "gold coins"?

For long term dump it all don't drink the kool aid of the gold/crypto fanatics. Gold over the past 10 years has not even kept pace with a conservative index fund.

It is a brainless non-productive lump of metal wasting away in a safe. 

Take it out everyday and hold it makes some feel rich I guess.

 

 

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36 minutes ago, Brunolem said:

Cherrypicking one more time.

 

Why don't you look at gold performance against all currencies during this century or, if you prefer, since 1971 and the closure of the gold window by Nixon, at a time when gold price was at 35 dollars an ounce, and had been the same for decades?

 

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  🙂

 

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11 minutes ago, bkk6060 said:

Over the past 30 years, the price of gold has increased by around 280%.2 Over the same period, the Dow Jones Industrial Average (DJIA) has gained 839%.1

Haha.

How far you want to go back?

And you keep quoting the articles you read and post you seem to have bought into the kool aid.

Go back 50 years if you want but my portfolio is diversified for the future and modern age of technology and technological advances. Companies that produce something have billions of dollars in revenue and have ideas for now and in the future.  But it does take some research, education and comprehension to understand it.

 

PS:  if you insist on historical performance a $10,000 investment in Apple 40 years ago would be worth 6.7 million dollars today.  Cherry pick that..  🙂

 

Why is it you have to go back so far to say an "investment" is good or not? Why can it not be varied to suit the times?

 

I bought a rental house in Australia, had it 10 years and after rent income, tax savings etc I lost $50,000 out of pocket. Yes another 6 months and I would have broken nearly even. 

 

I had many shares they disappeared off the board and everything lost.

 

I came to Thailand 7 years ago and after reading predictions on possible future economies I starting buy Thai gold bars as easy to do so. I started this 5 years ago. I bought and sold and was up to 50 baht total but now down to 32 baht. If I sold right now at time of writing I would make 306,208 baht profit. Not too bad for 5 years. 

 

I also bought 100kg pool allocated silver in Australia around the same time. I have sold 60 kg, 20 of which were very recent. On that I HAVE made a $14,036aud profit. Again 5 years.

 

Gold and silver may drop in value over time but I will NEVER lose on them unlike many shares I had owned in Australia.

 

I have also played around with a few cryptos in about a 2 to 3 year period and I am up $10,000aud on paper as of today.

 

I have my exit plans for all 3 investments.

 

If you, as an "anti golder", think bad investments good for you. I have done well out of these.

 

 

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2 hours ago, Captain Monday said:

So I should sell all my EETFs now😁

Should I go all US dollars or all "gold coins"?

Right, go all USD.  You'll soon be a trillionaire just like in Zimbabwe.  Of course it will cost 1 million to buy that cup of coffee at Starbucks.  The handwriting is already on the walls.  You just need to read it.

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