This website claimed that the bell tolled for Europe, then Japan and most recently the stock market. We know now for whom the bell tolled…Gold. It would be good to see some analysis on why all the predictions haven't borne out and the hit was taken by the one store of value that has been the main object of belief on this website. And please something with more depth than the tired old manipulation conspiracy theory.
Sorry to burst your bubble RaviNathan but have you seen Elvis and Gold manipulation are not the same thing.Well what about Robert Rubin and Larry Summers…Gibson's Paradox…Gold price directly correlated to interest rates…What do we have now…Low interest rates…Conspiracy Theory?
What about the gold carry trade…Leasing gold to bullion banks…Guess who might have to buy this gold back (At a much higher price)…Conspiracy Theory?
What about GATA's research…Conspiracy Theory?
Who would dump 500 tons of gold in one day, (155 tons in 1 hour). I guess they were trying to get the best price for their gold…Conspiracy Theory?
"Joint intervention in gold sales to prevent a steep rise in the price of gold (in the 1970s), however, was not undertaken. That was a mistake." … Former Federal Reserve Chairman Paul Volcker (writing in his memoirs)…Conspiracy Theory?
One more thing RaviNathan…Banks are not your friend!
Just saying…
Earthwise,I'll direct you to Chris Duane's channels, and say that he's the best at describing the situation since Damon IMO.
I say this because, he doesn't delve too deeply into the ruling families, religious aspect of the issue. But breaks it down into parcells that can be understood and accepted by most.
Greatest Truth Never Told
And as for solutions, again I'll give you Mr. Duane.
Sons of Liberty Academy
He's come up with a plan to start his own bank, backed by silver of his, as well as the people that join his community. It's not a Utopian plan, or a commune type, but a voluntary community of like minded people from all over the country/world.
It's one of the better solutions I've come across, but not perfect by any means. IMO, he leaves out the chance that tptb will just crush his community, and take the riches. But that can happen to anyone with wealth that the elite want so…?
I know this isn't an in depth answer, but truthfully, I don't know if there's a true answer to the situation. I've spent a lot of $ to create area's, for my family and some friends to move and be fairly safe. But in retrospect, they're not perfect by an stretch of the imagination. But the family/friends that have moved into those locations, love the change, and continue to become more resilient in their lives so…it's been a good move for the most part. But it's not for everyone…yet.
To support your statement, Larry Edelson was one such individual.
Chris, Mike,
Thank you for a great review of the history of monetary systems.
I would summarize what I will remember from this podcast in one word: Perspective.
It is always a useful exercise to look at the current world with an informed perspective so that we gain wisdom and can make choices with less emotion and less affected by the chatter of the day-to-day media. It's the difference between children and adults (children: I want to buy that shiny bike now with my allowance adults: buy a small relatively inexpensive thing that will give you pleasure, save your money for an umbrella on the way out of the store- I thought I noticed there were heavy clouds on the way into the store).
Developed-world financial systems are collapsing, sometimes slowly, sometimes rapidly. If the roof of your house is caving in, do you stand there and wonder why in the moment, or do you grab everything you really care about (family, photo albums, pms- leave the cheap dresser and bedroom sets behind), or do you sit there and contemplate how this could be happening- gee my neighbor-friend who is a carpenter said it is impossible for my roof to collapse?
If you are compassionate, it is truly sad to see 1) the lack of leadership by our "leaders" and their obvious corruption- if you are blessed with skills and intelligence I believe you have a God-given responsibility to use these to help, not harm, others, (includes politicians, judges, media executives, financial executives) and 2) the inability of the citizenry to stand up and demand correct, freedom-enhancing reforms (not crazy, historically failed reforms like "redistribute all wealth").
I believe we will emerge from the coming reset and eventually have a great new period of prosperity, but there will be damage. It's what happens to fragile human beings that stand inside of collapsing buildings. I don't want myself or my family to be involved in the damage. Gold and silver, among several things, are the refuge untill the "dust settles".
Anexaminedlife said no one predicted a big drop in gold. I can't afford the time to find citations for you, but I'm familiar with several who said one scenario that was realistic was for a big drop in gold before a HUGE rocket upward. The same kind of thing happened in '08 (though this looks bigger) and then prices doubled. "They" picked various support levels which have so far been prescient: $1520, and various points in the $1300's (1385, 1320, 1300). (THC0655)Oh I miss Bob on these threads. I remembered posts of the price of gold going down, so I went back to previous threads and found these from Bob back in December:
...accumulating Gold here when John Q. Public WILL NOT have the stones to hang on to the physical metal when they realize the The Fed, even after Trillions and Trillions spent WILL NOT and HAVE not reflated our economy? There is NO Inflation out there and will not be at least until we go through another rather tragic Deflationary event.
Why oh why is everyone so concerned with the dollar when it is the reserve currency and safe haven in a world where we are the cleanest (or safest) shirt in the laundry basket? I have Gold, I DO NOT concern myself with every millisecond in movement with Gold although what is happening now is terribly interesting, and only at PP do we get this exciting stuff.
And this on the same thread:
My guess, physical goes lower for the next 6 months or year, and some serious coins can be made to help buy what should be a cheaper Gold price (Janjuah spike alters this prediction). As always we reserve the right to change our minds but if you have physical now, are well profited in the play, and we are, then we add to this position as the fearful market dumps their Gold coins, bricks or whatever. Works for me, and please critique this line of thinking as I factor for a Recession no matter what Congress does.Bob, I know you're out there...GO TIGERS!!
"Right now we are in consolidation. Gold has been chopping sideways for 19 months now, and it has worn people out. But basically gold is up. It is not up from 19 months ago when it was nearing $2,000, but it sure is up over the last decade. So I do not let the short-term noise affect me now that I know that we have not reached the point where the price of gold equals the points on the Dow. Right now gold’s value is one-ninth of the Dow, and so I know that it needs to rise by a factor of 18 against stocks before I need to get worried and start watching gold.
So I am very comfortable in these pullbacks. It gets a little aggravating, but still it does not bother me that much and is definitely not going to flush me out."
So, how does it feel at 1/11th of the DJIA, hey? Timing could not have been worst for this podcast! We're faced with serious downside risk and losing the complete decade long run-up so, really what can we do??? This chatter is no longer suffice despite the absolute fundamentals versus the idea of a PM allocation. Disapointing situation.
I agree that Chris Duane and his group of leaderless individuals have much to offer. I have found people there who are really doing things and who are more focused on gettting ready for the next paradigm and not just hunkering down. He closed membership once or twice out of concern that people might want to join out of fear instead of positively wanting to do something newer and better for the next paradigm. A real optimistic approach…
The best deal I have found are these Englehard "prospector" rounds from Gainesville… only $1.99 over spot;
http://www.gainesvillecoins.com/products/159946/1984---1-oz-engelhard-prospector-silver-round-.999-fine.aspx
Here is the equivalent round at Apmex for $6.99 over spot;
http://www.apmex.com/Category/1596/Engelhard__Johnson_Matthey_Silver_Rounds.aspx
The Silver well is getting quite dry.