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View Full Version : What happened to the GOLD?



nnuut
03-21-2006, 03:24 PM
When Nixson went off of the GOLD STANDARD we had FORT KNOX filled to the hilt with gold and silver. What happened to the REAL money? :confused:

nnuut
03-24-2006, 12:22 PM
HMMMMMmmmmmmmmmm? I guess nobody knows? No that can't be true, especially on this site.:confused:

Wimpy
03-24-2006, 12:37 PM
The 'protectors' of the gold 'warehouses' have all been sworn to secrecy. It is a national security issue...LOL...or will be shortly!

TiCKed
03-24-2006, 01:09 PM
Guess I don't know what you mean.....

Fort Knox is still filled with gold as far as I know. The silver reserves (where ever they were kept) has pretty much been used up by the U.S. Mint making commemorative coins and silver eagle boullion coins.

If by "real money" you mean the old 90% silver coins, much was melted during the huge silver boom of the early 80's, although some still exists in bags of $1000 face value. They get dragged out when silver spikes up every few years....like now.

And don't forget us collectors! We've all got plenty of silver coins saved for posterity!

nnuut
03-24-2006, 03:50 PM
Yep, nobody really knows!!!!:confused:

LA_Guy
03-24-2006, 05:18 PM
Here is my theory:
People from China, India and Saudi Arabia are buying up all the gold bullions because the US Dollars is weak and the US economy is on the decline therefore gold is a better investment.

Here is the proof:
- China and India economy had been booming in the past few years. Those oil rich countries like Arabia, Dubai, Kuwait have a big surplus of money from the oil price increase. So what do you do when you have a lot of money? Buy Gold!! Gold is the universal monetary.

TiCKed
03-24-2006, 05:55 PM
Yep, nobody really knows!!!!:confused:

Guess I'm still confused by the question.....

Except for the small amount of gold used in industry, I'd say a vast percentage of the gold that existed 50 years ago still exists today. The things that change are the world population, and a real increase in popularity recently. You could have bought it for less than $300 an ouce not more than 5 or so years ago, and it wasn't because it was more plentiful then! Just out of favor. Gold is gold, and will always be gold.

As for Fort Knox:
http://www.usmint.gov/about_the_mint/fun_facts/index.cfm?flash=yes&action=fun_facts13

nnuut
03-24-2006, 09:08 PM
The question was-----------> When Nixon went of of the GOLD/SILVER standard and started the PAPER STANDARD, what happened to the ORO, Gold and Silver. Is it still there? Was it spent? Are we broke? Is our money just paper out not. WHO, ON WHAT WAS OUR MONEY SPENT????????:worried: WE need to know!!!!:mad:
tryin' to have a little fun!!!:nuts:

mayday
03-25-2006, 01:04 AM
The guarantee on the silver certificate has vanished. So what are we dealing with faith money? How much do you think your paper money is worth? If it takes more paper money to buy gold then the guarantee is gone. So we are dealing with what we believe the value of the dollar is, not gold.

Spaf
03-25-2006, 01:13 AM
Mayday,
The gold standard is gone! Welcome to to the Cartel (FOMC) and the inflation creature it created.
http://i21.photobucket.com/albums/b296/Spaf/Creature.jpg

Show-me
03-25-2006, 07:47 AM
nnut,
The former "reserve silver" is still being marketed on places like ebay. It was probably sold to the lowest bider, lobbyist friend, campaign contributer, jackass then melted down and re-coined under a different name.

O by the way your paper money is worthless. Based exclusively on "the good faith and credit" of the U.S.A.............BAHAAAHAAAA!:nuts: We're floating checks on imaginary money...........Can I do that at Walmart without going to jail?:nuts:

See ya! Have a great weekend.

FUTURESTRADER
03-25-2006, 07:57 AM
I think there's more gold bullion in the new york mercantile basement then in ft knox these days. (IAU) was first etf for gold,, (GLD) is another that trades 1/10 the price of spot. I think th companies have to hold at least 1/1o of the actual metal to trade these 'stocks'. Silver etf deal is 90% complete and blamed for recent spike, and, if like gold etf, will continue to create more demand

nnuut
03-25-2006, 09:54 AM
HMMMMMmmmmmmmmmm? I guess nobody really knows?:rolleyes:

Wimpy
03-25-2006, 02:17 PM
HMMMMMmmmmmmmmmm? I guess nobody really knows?:rolleyes:

I really didn't want to be the one to 'OUT' him and spoil his coming out party, but I thought it was time to put the drama and noise to rest on the mystery of the missing gold.

Birchtree is a closet 'gold bug'. He has the equivalent of Ft. Knox in his basement and is desperately trying to 'pump and dump' his other common stock holdings so he can purchase the remaining gold and silver jewelry in circulation for melting down and adding to his private basement hoard.

Now that I've 'OUTED' you Birchy...it is time to come clean with your devious little plan to sell your worthless common stock to those you think have just fallen off the cabbage truck.

Birchtree
03-25-2006, 03:23 PM
Wimpy,

I do own 15 ounces that I acquired in the late 1970s priced all above $500 per ounce. I bought the U.S. Mint coins called Grant Woods and Louise Armstrongs etc, they are beautiful to look at and probably have some kind of collector value also. Anyway, they are mine and I'm keeping them to give away as gifts to the grandchildren when the times are right.

Going back to 1910 and having analyzed the ratio of the DJIA against the price for gold - if the past is any guide, the relative ratio of the DJIA to gold is likely to continue to decline, suggesting that gold should outperform equities during the next few years. However, returns are likely to be volatile. The long-term target for the relative ratio appears to be 13:1. Based on the current DJIA level of roughly 11,000, that would translate into a long-term gold price target of $850, or the peak set in January 1980. And no they are not for sale.

Wimpy
03-25-2006, 04:04 PM
The long-term target for the relative ratio appears to be 13:1. Based on the current DJIA level of roughly 11,000, that would translate into a long-term gold price target of $850, or the peak set in January 1980.


However, since you mention the January 1980 gold price peaked at $850 it is also interesting to note the January 1980 DJIA average was also at 850 which is a 1 to 1 ratio versus a 13 to 1 ratio.

Therefore, an 11000 DJIA with a 1 to 1 ratio would translate to a potential gold 'peak' price of $11,000 an ounce.

I personally think the two shall cross swords (1 to 1 ratio) at the 3,000 mark instead of the 11,000 mark. But it makes no difference to me which mark is attained as I will begin trading my gold for your common stocks near the 1 to 1 ratio no matter where it falls numerically on the scale as the 1 to 1 ratio will signify a generational 'low point' for common stocks that I'm anticipating will arrive in the 2010-2012 time frame.