Gold up $70 in past 15 days, $20 today!

[Divine Discontent]

www.goldprice.org

up $20 in the past 24 hours.

a LOT of fear in the world about an economic collapse and war between Israel and Iran erupting with smiling approval by Der Fuhrer.

I don't have money to have bought gold, but I'm sure some have. If you have lots, please take care of us poor people if the fall comes!

May God bless us despite these evil bastards hurting the poor and suffering not only here in the US, but in Iraq and elsewhere that our country is doing actions that are questionable. :(

many more stickers & shirts at --- www.cafepress.com/warisprofitable

[TheFarseer]

1. it went up on Saturday?

don't these f*ckers ever take a break? Lot's of things scaring the market right now, which is good for gold. Bad for most of us :(

[Dover]

2. Is it my imagination or are oil and gold moving in synch with one another?.n/t

[Captain Angry]

3. Gold is the traditional haven from inflation.

Oil is causing the inflation.

So they ride together.

When oil corrects back to $80 a barrel (at least), gold will probably drop back under $800.

Oil and gold are where the money went after major investors left the real estate market. When a better investment comes along, the money will flow out of oil and gold and into the new investment.

It sucks, but it's how it works.

[Dover]

4. Interesting. And what of commoditites?..n/t

[Captain Angry]

10. Same thing.

Corn, wheat futures, etc.

Demand was definitely up due to use in production of Ethanol. But not THAT much.

I fully expect prices to drop all together.

[CoffeeCat]

6. Any guesses on when that oil correction...

...might happen?

I see absolutely no end in sight, for oil prices. China and India will continue to fuel the demand for
oil. The current US infrastructure (suburbia) is set up for continued oil/gas consumption, with
changes to alternative energies happening very, very slowly.

I'm no expert, but my guess is that oil continues to rise.

If you have other thoughts, I'd love to hear them.

[Captain Angry]

11. Demand

China and India are certainly contributing to higher demand which is more than making up for what we're not using at these prices.

However, demand hasn't doubled in the last eight years.

There has been no fundamental change in the way oil is found, transported, refined, retransported, and consumed in the last eight years.

There are no customers today that we didn't know about yesterday. China and India's population didn't double in the last eight years.

So, yes oil has an upward trajectory, but not from 80-150 in months. It's been manipulated and bought up to hide from the market shakeup.

We're not going to get off of oil any time due to stubbornness and short-sightedness in our leadership. But oil hasn't gotten to the current price level through normal demand/usage.

[Monk06]

7. Both gold and oil are priced in US dollars, so it is inevitable that if the

dollar declines in value due to excessive US debt
and dollar liquidity, the price of oil and gold
will rise.

Gold has become re-monetarized since 2003 since
the US$ is no longer a safe store of value.

Oil on the other hand determines the world price
of Gold and the US$. A case could be made that the
world's de facto reserve currency is oil itself.

The proof of this is that the US govt is hoarding
oil in the SOR but it is doing everything it can
to suppress the gold price by encouraging gold
holders to sell.

The hidden agenda in all this is the Fed and the US
Govt under Bush are purposefully devaluing the US$
in order to make the Euro more expensive and Euro
exports uncompetitive.

Also since oil is priced in US$ devaluing the dollar
and driving up the cost of oil will curtail the high
growth rates of the Indian and China economies who
are competing with the US on world markets.

In terms of US debt obligations they are
telling nations holding US treasury bills that they
will get paid back with monopoly money, like it or not.

This is the end game of the neo cons military and economic
to ensure "no country will threaten US economic and military
dominance."


Or maybe not


:tinfoilhat: :tinfoilhat: :tinfoilhat: :tinfoilhat: :tinfoilhat:

[Divine Discontent]

8. thank you for your great post eom

[Selatius]

5. A war with Iran would likely provoke the worst economic downturn since the Great Depression.

The effects of an oil shock--as there would be the threat of Iran sinking oil tankers in the Hormuz Strait--and the following panic selling would capsize the US economy.

[1]

9. yes...

[KharmaTrain]

14. A Sure Way To Get Taken...

A friend recently told me about a lady he knew who needed money in a hurry, took a gold chain she had and went to the local "hock shop". Her first mistake was not having an idea of what the price of gold was, but she knew the chain weighed at least a several ounces. She got to the jewelry store and the guy offered her $700 for it...about $300 more than she had paid for it 20 years ago...she took the money...then took a closer look. She found out that the necklace weighed 5 ounces...at $900 an ounce (20 years ago it was about $250)...thus she should have gotten nearly $4,500. By the time she realized, it was too late.

[Kurt_and_Hunter]

12. If you converted all your money to gold in 2000 gas prices would be going down

Gold has gone up even more than oil in that span, so if you used gold coins for money gas prices would actually be going down every week.

If you use euros gas has gone up, but not crazy up.

If you use dollars you're screwed.

(This is not an endorsement of using gold for money! Just an observation about what it means or doesn't mean when someone says oil has increased in price. Price in what? Dollars? Chickens? An hour of labor at the minimum wage?)

[Divine Discontent]

13. AMAZING and prescient commentary by you K&H, thank you, sadly

I didn't use the little money I had in the early part of this decade for that, and I'm paying the price for using.... dollars, today!

I get your wonderful point here, I think others would be wise to see it.