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Buffet just bought $1/2 billion 

 of stock in Barrack Gold/mining.

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2 hours ago, papa al said:

Buffet just bought $1/2 billion 

 of stock in Barrack Gold/mining.

Right... and he is no gold bug... 

 

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If you think the price of gold is going down, short it. If you think it's going up, buy into it. Put your money where your mouth is, aka, have skin in the game as the great Taleb says.

Otherwise you're just an anonymous talking head in an Internet forum.

 

I know where I am putting my money, have been buying gold, silver and bitcoin since their bottoms in March. But I'm not an idiot, I only invest the money I can afford to lose. The loss is limited, but the potential upside is huge, so totally worth the risk for me.

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36 minutes ago, Brunolem said:

Right... and he is no gold bug... 

 

Buffett made a many bad bets in the past few years, lost more billions of dollars than we have Baht millions

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Posted (edited)
5 hours ago, Brunolem said:

Not wrong, these are well documented facts.

 

In 2003, the US was not producing that much oil, and anyway I didn't write that oil was the purpose of the invasion, but the dollar, or rather the petrodollar.

 

The petrodollar is crucial for the US, whose currency otherwise would quickly become worthless.

 

As for Gaddafi, he was removed because he wanted to set a single currency for Africa, a dinar backed by gold.

 

Sarkozy was the first to react, since many African countries use the Franc, controlled by France.

 

He convinced Obama and Hillary, then NATO, to join him in his monetary fight.

well documented? the moon landing is well documented, doesn't mean it's real.  If you don't understand that the conflict for the middle east is thousands of years older than the discovery of oil then i can see why you think the reason is oil.  Again if the real reason was oil then it would have been much easier just to sieze Iraq's shipments as they were no military threat, unless you also believe in WMD's.  Yes i have heard the dinar excuse, but there is know evidence, there is however evidence of African migrant caravans making the journey into Europe from the shores of Libya.  I would love to hear your thoughts on Afghanistan, Osama? humanitarian reasons?

Edited by Heppinger

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Posted (edited)
1 hour ago, Barnabe said:

If you think the price of gold is going down, short it. If you think it's going up, buy into it. Put your money where your mouth is, aka, have skin in the game as the great Taleb says.

Otherwise you're just an anonymous talking head in an Internet forum.

 

I know where I am putting my money, have been buying gold, silver and bitcoin since their bottoms in March. But I'm not an idiot, I only invest the money I can afford to lose. The loss is limited, but the potential upside is huge, so totally worth the risk for me.

Don't know about bitcoin, but agree with gold and silver, I have gone heavy into silver as it is used in the medical instrument industry and has been used as money for 5000 years (among many other things),  Also heavy into natural gas,  Uranium (as this is how china is going to transition out of coal) Also not as heavy into coffee, soybean oil and heating oil.  What i see from looking at the daily ASX releases is alot of "becoming a major shareholder" in mining not just gold but also cobalt, nickel, copper, uranium, lithium.  The people following MSM tips of "green" energy investments are going to get F&&jed in my opinion.  The belt and road and China's mega cities will not be powered by solar panels wind farms and hydrogen.

 

My reasoning in going heavy into commodities is that I'm expecting fiat currencies to inflate in relation to energy and soft commodities. 

Edited by Heppinger
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Posted (edited)

Another thing to remember is that gold IS NOT at an all time high, and isn't even close to being at an all time high

Edited by Heppinger

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7 hours ago, Heppinger said:

well documented? the moon landing is well documented, doesn't mean it's real.  If you don't understand that the conflict for the middle east is thousands of years older than the discovery of oil then i can see why you think the reason is oil.  Again if the real reason was oil then it would have been much easier just to sieze Iraq's shipments as they were no military threat, unless you also believe in WMD's.  Yes i have heard the dinar excuse, but there is know evidence, there is however evidence of African migrant caravans making the journey into Europe from the shores of Libya.  I would love to hear your thoughts on Afghanistan, Osama? humanitarian reasons?

I wonder if you bother to read my posts.

 

I have stated, twice, that Irak was not about oil, but about the PETRODOLLAR!

 

Regarding Libya, there were far more migrants crossing to Europe AFTER Gaddafi's demise than before.

 

As for Afghanistan, it's an entirely different issue, born in the aftermath of 9/11.

 

There were certainly no humanitarian reasons involved, it's just that a military response was required and Afghanistan was a convenient scapegoat...until it wasn't...

 

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4 hours ago, Captain Monday said:

Gold has no more intrinsic value than a bit of paper. It is psychological.

It has industrial utility. Gold has substitutes for its uses also.

There is no way for me to safely store  million dollars or so of gold coins.

Costs of exchange prohibitive, and always at the mercy of the lowest of the low.

The money - changers at the back of the temple.

 

Fools Gold - A bad investment for sheep following a trend.

 

The first time I came to Thailand about 24 years ago,  1 Thai gold bath has a price of thb 5000.

And now? Do I have to tell you more?

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8 hours ago, Captain Monday said:

Gold has no more intrinsic value than a bit of paper. It is psychological.

It has industrial utility. Gold has substitutes for its uses also.

There is no way for me to safely store  million dollars or so of gold coins.

Costs of exchange prohibitive, and always at the mercy of the lowest of the low.

The money - changers at the back of the temple.

 

Fools Gold - A bad investment for sheep following a trend.

 

I’ll just leave this here for you:

https://www.zerohedge.com/markets/us-dollar-devalues-99-vs-gold-100-years-gold-price-crosses-2067

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10 hours ago, Brunolem said:

Spoken like someone who has no understanding of money.

 

First, gold is NOT an investment...it is an insurance against the constant depreciation of currencies thanks to inflation.

 

Now if gold has no more intrinsic value than paper money, let's imagine that we found two crates, one full of centuries old gold coins, and one full of centuries old paper money, I know which one I would chose and I would gladly leave you the paper money, never mind the total amount written of the paper.

 

As Voltaire said: paper money ultimately returns to its intrinsic value, which is...zero.

 

Understand the exmple but ancient coins would be valued even if made from base metal. Would you trust the GLD etf? reportedly backed by bullion in secured vaults? But why follow the trend and dive into a skyrocketing speculative commodity while inflation remains low.

 

Would it not be more efficient to simply hold a basket of major currencies?

 

I think it is quite SAD that the herd is always being coerced towards expensive gold products while they have no ownership of residence, emergency fund, or even health insurance. Always behind the black curtain lurks a gold merchant, who takes his profits in CASH.

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