Wirplit

As long as history keeps repeating that ALL fiat currencies eventually go to their intrinsinc value of ZERO , in not more than about 50 years(we are about 40 years into this current dollar one, statistically geriatric), then gold will be a fine hedge against monetary collapse. All these paper gold schemes , mainly ETFs, that may or may not have the actual gold that they say they have backing them, are all designed to funnel gold buying funds away from physical gold and into IOU proxies for gold. As much as they deny it, the central banks are dead scared of gold, and rightly so. They may win some battles, but in the end they will lose the war.

I have placed my bets on 5000 years of history, and dumb greedy central bankers who counterfeit money(IOUs) using a printing machine. All credit , including paper money , is ultimately a claim on gold. We are long overdue for these $quadrillons to be settled, or defaulted upon.

Steviefinn

http://jessescrossroadscafe.blogspot.co.uk is a great font of knowledge about gold.

Just in case you are not aware of it, this site has a lot of interesting info about gold:

http://jessescrossroadscafe.blogspot.co.uk/2012/05/gold-daily-and-silver-weekly-charts_18.html

This would fit with usual supply and demand. Hence gold prices go up? Well no, noone seems at all sure of that and why? maybe its due to go down? Because so much of the “gold” traded is in the form of paper assets and is the paper actually backed by real gold?

I am not so sure about how useful gold is in a real crisis but I sure as hell would rather have it in the shape of a reassuringly heavy pleasingly coloured hunk of metal than as a bit of flimsy paper with a promise on it… knowing a lot of people have similar bits of paper… l

As Dave Harrison gave in the useful link to TradewithDave http://tradewithdave.com/?p=10106
:

“To summarize, Dave believes the price of gold is going to go down for two primary reasons; untenable counter-party risk at the Comex and the general liquidation of GLD units. Dave believes the coordinated public relations campaign on everything from Jim Rickard’s Currency Wars and Matthew Bishops’s In Gold We Trust to the most recent release of John Butler’s The Golden Revolution is a coordinated effort to get the masses interested in buying gold (of the paper variety) in an effort to provide price support for the re-hypothecated precious metal as those in the know unload their paper.”

So behind all the EDF business you are so admirably highlighting Golem is there the more general fact that the market structures themselves are beginning to look dodgy as a whole…not just their obvious manipulation but even in the basic numbers they are asserting as plain facts… like Gold prices?

Are the indices just smoke and mirrors too? … and will this become, not just something we point out here on this blog, but a general understanding beginning to take hold in the wider world?

Right now the markets have the look of that famous picture of the cops in Whitehall during the Great Trafalgar Sq. Poll Tax rebellion… looking to right and left and equally lost either way!

I mean of course they are and always have been bent but when the actual mechanism starts to become fundamentally distrusted… like for example when the gold price is no longer actually really a reflection of what is actually happening to the real supply/demand…

.. then what is to trust? How can even the market believers continue then? One theorizes about end times for the markets but when it actually starts to come about… well its awe inspiringly scary! Or is it just me waking up with another jolt of reality?

Here’s one in keeping with burgeoning feudalism: BUM – Bow U Muppets!

Here’s Max Keiser, on his best behaviour, talking to Mike Maloney about gold:
http://rt.com/programs/keiser-report/debt-accounting-max-keiser/

I know there has been frenzied debate (and a lot of cussing) between the gold bugs and the MMT supporters on this blog, but what this programme indicates to me is that if the US economy implodes then a gold-backed currency will be the panicked response. Relatively simple to implement, the aurous standard could be with us for many years before MMT can be re-activated.

Hehe… round these parts the expression is:

If brains were dynamite they couldn’t blow the wax outta their ears!

but I take your point, Desmond. As for liquidating zombie banks and marking to market…nobody seems to be talking along those lines. In fact, they seem willing to consider anything but those two things.

Makes you wonder what they might be afraid of!

Now, where did I put that Black Hole?

http://www.commondreams.org/view/2012/05/17

.

FAME – F- All Mortgage Equity

TITS – Troika Institutes Total Shambles

And so on, ad nauseum.

Stevie

How about:

LOL – Lost Our Lolly
URFd – speaks for itself