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The gold standard bandwagon is rolling - Thailand must climb aboard

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Sure looks like gold is continuing to trend downward from its approx $1,890 USD/ounce on 22 Aug 11.....now it's around $1,200. Goldbug accumulators have basically been losing money since Aug 11. But hey, accumulate all you want...someday it will start a long term trend back up again for a while....but when that "someday" will come and how long the trend will last is anyone's guess...maybe next week....maybe 10 years from now.

attachicon.gifCapture.JPG

“Goldbug accumulators have basically been losing money since Aug 11 “

You don't grieve over the money you pay out in insurance premiums year after year do you? blink.png

Similarly, I ( and many other gold bullion owners) don't grieve about any money lost on our gold bullion, which many regard purely as an insurance policy for what is inevitably coming…………

The Golden China Yuan Currency Is Coming

Peter Krauth writes: The U.S. dollar has been the world's de facto reserve currency for almost 90 years.

But this financial dominance may be nearing its end. it's no secret that China's been accumulating gold - a lot of gold.

http://www.marketoracle.co.uk/Article44053.html

Edited by midas
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first a little history at the end of WW 2 the U.S. had 21,000 tons of gold, it some cases it was stolen and never returned and the only currency the U.S. used when getting paid for military equipment was gold . so everyones gold came to the U.S. and the gold they had been holding for countries that were overrun was kept. the reason the U.S. does not want an audit is because they would have to explain all the extra gold. they just returned some gold to the Germans and the Germans sent it back old gold only 96% purity.they probably sent them back old reichmark gold. The world bank was started funded with U.S. gold. central banks hate holding gold no interest rate return negative carry. QE has ended and the Americans will raise interest rates and gold will continue its decline it has already come down 35%. the russian , chinese and indias are not know for being the best traders when it comes to world commodities

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  • To those of you wishing for the collapse of the US dollar I have only this to say "wishful thinking , before that happens yours will have already collapsed ".whistling.gifwhistling.gifwhistling.gif

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first a little history at the end of WW 2 the U.S. had 21,000 tons of gold, it some cases it was stolen and never returned and the only currency the U.S. used when getting paid for military equipment was gold . so everyones gold came to the U.S. and the gold they had been holding for countries that were overrun was kept. the reason the U.S. does not want an audit is because they would have to explain all the extra gold. they just returned some gold to the Germans and the Germans sent it back old gold only 96% purity.they probably sent them back old reichmark gold. The world bank was started funded with U.S. gold. central banks hate holding gold no interest rate return negative carry. QE has ended and the Americans will raise interest rates and gold will continue its decline it has already come down 35%. the russian , chinese and indias are not know for being the best traders when it comes to world commodities

" the reason the U.S. does not want an audit is because they would have to explain all the extra gold "cheesy.gif

Netherlands just bought back a chunk from the US tongue.png

'In great silence, De Nederlandsche Bank in recent months 130 tonnes recovered in gold bars.'

http://www.telegraaf.nl/dft/nieuws_dft/23356897/__Nederlands_goud_in_geheim_terug_uit_VS__.html?utm_source=t.co&utm_medium=referral&utm_campaign=twitter

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I'm not sure. Though seems like we've read these words and experienced this drama before. Sooner or later, gold will up $1,000. from where it is now. That will be openers.

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I think Yuan for Russian gas is a last gasp from Russia, they'd much rather get dollars, Euro's, or gold. They have nobody to buy the gas so they have to sell to China. China got a great deal there.

Thailand mines gold, has for centuries. Most of Thai gold stays in Thailand already. I see more gold in Thailand than I've seen anywhere I've visited, I think the Thai people are already on a gold standard of sorts.

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The USD is in its death throws regarding its place as the global reserve currency.

Returning to the gold standard will be the last stand for the Dollar.

Once significant amounts of USD have been offloaded for gold it will start a domino topple as other countries scramble to swap USD for gold before it becomes almost valueless.

Then the whole US economy will collapse.

Many already know the Federal Reserve is lying about what gold they have left. It is a lot less then they say and China has up to 5 times the amount they say.

The US economy will not collapse alone, probably not even first. I'm personally glad I didn't buy Rubles last year or Gold the last 3 years.

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Sure looks like gold is continuing to trend downward from its approx $1,890 USD/ounce on 22 Aug 11.....now it's around $1,200. Goldbug accumulators have basically been losing money since Aug 11. But hey, accumulate all you want...someday it will start a long term trend back up again for a while....but when that "someday" will come and how long the trend will last is anyone's guess...maybe next week....maybe 10 years from now.

Capture.JPG

“Goldbug accumulators have basically been losing money since Aug 11 “

You don't grieve over the money you pay out in insurance premiums year after year do you? alt=blink.png>

Similarly, I ( and many other gold bullion owners) don't grieve about any money lost on our gold bullion, which many regard purely as an insurance policy for what is inevitably coming…………

The Golden China Yuan Currency Is Coming

Peter Krauth writes: The U.S. dollar has been the world's de facto reserve currency for almost 90 years.

But this financial dominance may be nearing its end. it's no secret that China's been accumulating gold - a lot of gold.

http://www.marketoracle.co.uk/Article44053.html

Midas says "the golden china yuan currency is coming" , it's too bad that it will be a day late and a dollar(hahaha) short, since the chinese real estate bubble has already begun to burst and the chinese shadow banking system may not be far behind wink.png China will have enough internal strife to deal with to keep it busy for many years to come wai2.gif BTW the Swiss aren't foolish enough to pass this measure, and when it fails gold will continue to fall sad.png

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the junta can do like USA during WW2, make it illegal for private citizens to own gold, they will buy it back at a STEAL

all for the good of the country off course

Done way before WW2. Confiscated the citizens gold at $20 per oz; then afterwards 'revalued' gold at $35 per ounce when the government had 'bought' all the gold from its citizens. Citizens couldn't open a safe deposit box in a bank without a government official present.

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Sure looks like gold is continuing to trend downward from its approx $1,890 USD/ounce on 22 Aug 11.....now it's around $1,200. Goldbug accumulators have basically been losing money since Aug 11. But hey, accumulate all you want...someday it will start a long term trend back up again for a while....but when that "someday" will come and how long the trend will last is anyone's guess...maybe next week....maybe 10 years from now.

attachicon.gifCapture.JPG

Buy low - sell high!

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The USD is in its death throws regarding its place as the global reserve currency.

Returning to the gold standard will be the last stand for the Dollar.

Once significant amounts of USD have been offloaded for gold it will start a domino topple as other countries scramble to swap USD for gold before it becomes almost valueless.

Then the whole US economy will collapse.

Many already know the Federal Reserve is lying about what gold they have left. It is a lot less then they say and China has up to 5 times the amount they say.

Everybody is lying the USA is no exception. It is interesting how the Federal Reserve was formed and who the big bucks are behind it.

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Sure looks like gold is continuing to trend downward from its approx $1,890 USD/ounce on 22 Aug 11.....now it's around $1,200. Goldbug accumulators have basically been losing money since Aug 11. But hey, accumulate all you want...someday it will start a long term trend back up again for a while....but when that "someday" will come and how long the trend will last is anyone's guess...maybe next week....maybe 10 years from now.

attachicon.gifCapture.JPG

Buy low - sell high!

That's a good approach but a potential problem with the Buy Low, Sell High approach is you might have to wait a decade or two or three to do that with gold...and the fiat money invested in stocks/bonds/etc., over those decades has probably grown to a high amount.

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So, the Chinese economy and banking industry is so honestly reported. . . really ? No corruption there, of course.

=== ditto === Russian economy and banking industry .................... really ? No corruption there, of course.

and, China is the world's largest gold producer, by far. With USA 3rd, and Russia 4th. So, is it surprising that these countries value gold ?

Ranting at China, Russia or USA is so much "hot air". The "big" nations of the world are inextricably linked by trade.

That which hurts one, hurts all.

This article was obviously drafted by an high-school economics enthusiast.

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