Posted by pgo12 on September 23, 2010 at 02:02:11 from (72.241.0.150):
In Reply to: OT Gold price posted by teddy52food on September 22, 2010 at 18:28:21:
the price of gold has been manipulated since nixon went off the gold standard in 1971.it allowed the US to print at will...gold has been kept artificialy low to prop up the dollar,by the big banks in NY,[jp morgan,gs,ect]....[look up browns bottom,where tony brown sold half of englands gold into the market..also the paper gold and silver markets[etf,gld, ect..], have helped in the manipulation.. being the reserve currency gives us tremendous advatage[petrol dollars].... nothing but confidence and military have backed up the dollar since..now that we have so much debt[in the trillions,we can never pay this back and our creditors are realizing this], the weakness of the dollar is showing through...people around the world are losing confidence in our fiat money and wanting to get out of dollar denominated assets..china,india,russia and smaller countries around the globe have been net buyers of gold to back up their currency..china is also buying up natural resourses around the world...china,for the first time in their history,is telling their people to buy gold and silver..,russia,china,japan,korea,ect are all slowlly selling their US bonds..soon the dollar will be worthless... all currency is measured against gold..[read allen greenespans essays on gold]...for the past 40 years or so, people have been told gold is not worth having and not a good investment,,they fooled alot of people..gold IS money..allways has been, for 6000 years, gold has been money.....the paper we all hold, soon will go to its intrinsic value of zero... all currencies will soon....for years central banks around the world were net sellers of gold and are now buying gold by the ton,that alone, tells you something is up...gold is not in a buble,,, yet,,if you think gold [silver],is expensive now,you havent seen anything yet...in the end, we were never really off the gold standard..pg
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