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- in reply to: Technology #3923
As an owner of an Eastern Historic Gold Mine with large reserves and recent core samples of 1.126 opt at 96.5 feet below surface. I am looking for technology help in finding definition on the ore body(ies) without having to drill, drill ,drill.
in reply to: Gold Enters Major Bull Market #3925Last on gold is $1050.00.
The following is a copy of an e-mail that came into GATA last night for Bill Murphy.
From Midas
posted on Oct 06, 09 11:35PMBill;
I’ve been told by someone who “knows” that major players demanded a lot of physical gold on Sept. 30 and “clowns” tried every trick to keep them in paper and even offered premium in cash over the Sept.30.Spot price.Allegedly, the BOYZ were told that they have 5 days of grace to come up with the real goods.
The results are obvious.
There is less then 600 metric tons of Au available [globally] at this point in time [for possible sale] and 1/2 is locked / frozen and cannot be moved.
The delivery commitments are a multiple of this.
The battle is on and the first guys are being taken out of the room with bullet holes in their forehead.
There might be one last great concerted effort by the BOYS to knock back the price. But even they know by now that they have lost control and that their construct of lies, fraud and deceit is coming down.
It will get – no, it is – very, very, very ugly.
On top of it we shall see the collapse of some Gulf states, as well as some major US and European banks hitting the skids.
Rob…It would seem – if my sources are correct – that we have finally reached “the point” that Frank Veneroso speculated about so many years ago – when price managers would “RUN OUT” of physical gold to continue their paper games. My ‘bird on a wire’ source continues;
The jerks are being hung by their thumbs and there is nothing they can do.
The very little Au that is available globally and it has been blocked from being sold to the BOYZ.
JPM/Chase is scrambling at every refinery to get their hands onto product. They even go to mines, no, – as we call it ‘going to the pit to get it to the cage’, but they don’t have the required access and are being strung out big time.
They did not see this coming.
They will fight but they are being pushed onto their own swords. Arrogance comes before the fall.
I say, couldn’t happen to a nicer group of criminal thugs.
Best,
Rob Kirby”in reply to: Gold Enters Major Bull Market #3924Last on gold is $1049.90. It crossed $1050 just minutes ago.
in reply to: Gold Enters Major Bull Market #3920Last of gold is $1015.40 as the metal works on establishing itself above $1000.
Dan Norcini submitted a Dow Jones/Gold Ratio chart to the http://www.jsmineset.com website earlier today.
The Ratio is arrived at by dividing gold’s price into the last sale of the DOW.
You can think in fiat money terms concerning your wealth or you can see what wealth is in gold related terms. It is just a matter of time before another currency’s “thought of worth” gets vaporized leaving gold as the only consistent historical standard of true value remaining.
As gold remains intact in its current bull market you can be sure of one thing, your assets in fiat terms, outside of precious metals, will be worth less and less in terms of the metal as time slowly advances.
Some analysts have predicted that one day the price of gold and the Dow Jones Industrial Averages will be at the same price. To profit if these predictions are correct you would either sell the DOW and buy gold or sell short the DOW and, again, buy gold.
It is possible to watch the DOW go higher and still profit as gold is expected to greatly outperform any DOW strength.
in reply to: Gold Enters Major Bull Market #3922Sorry, forgot to include the link to the article. Here it is:
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
in reply to: Gold Enters Major Bull Market #3921Last on Gold is $1019.30.
The following linked story entitled The Demise of The Dollar is breaking news.
In another positive developement for gold today Hong Kong ordered its gold shipped home from abroad.
Things are just not looking good for the dollar. Did you get your gold yet?
in reply to: Two-headed Front #3918All assets are being targeted by the State and the Federal governments because these people are financial failures at managing the general affairs of their constituents.
Gerald Celente stated this year that America’s second revolution has already started, public protests are just the beginning, he says.
I recently read that ammunition sales have been brisk and that there is a shortage of available supplies. I wonder what’s on the mind of the buyers?
in reply to: Gold Enters Major Bull Market #3919Last on gold is $1003.60.
The below linked article clearly makes the case for physical gold and silver ownership as opposed to all the “bucket shop” type paper trading instruments that have little or no physical behind them.
in reply to: Clips from Alleghany #3917It is a fantastic crisp FALL morning in the High Sierra. Chance of snow in Truckee. Mostly clear in Alleghany. Full harvest moon popping up about 6pm. Life is grand within a physical environment like this AND we sit on top of a gold mine. Where is all the environmental degradation? Where is the Central Valley Water Board’s alleged Public Nuisance? It cannot be found in Kanaka Creek or the surrounding National Forest. The hills are alive with the fundamentals of life: physical nourishments, clean air and wonderful water.
Then there are the lawyers and employees working on behalf of the public 100 miles away in the Sacramento Valley. They consume precious Tax Dollars to pursue a mythical threat. Shame on them. Stop this flagrant abuse. Force them to change their misguided efforts to improve California, so our true Social-economic and Environmental problems will be addressed. Shame on them and everyone who follows their Path towards improving our Diverse Environments.
The Gold within this precious Mountain Range can fuel the necessary Revival in a very sick Californian economy. Do you agree or disagree? Scoop says, yes.
in reply to: Gold Enters Major Bull Market #3916Rick
Go to http://www.golddealer.com and research specials on $10 gold coins.
The following link is to Martin Armstrong’s most recent comments concerning your future with an abundance of historical references:
in reply to: Gold Enters Major Bull Market #3915Bluejay, the link didn’t work since I don’t Yahoo…
in reply to: Gold Enters Major Bull Market #3914in reply to: Gold Enters Major Bull Market #3913Last on gold is $1001.90.
Mark Faber recently said that our economic system may implode within 10 years.
You should consider with the following linked article concerning Chrysler impending demise that we might be very well on our way to such a catastrophic collapse:
http://247wallst.com/2009/10/01/chrysler-may-not-make-it-another-year/
in reply to: Gold Enters Major Bull Market #3912Last of gold is $1003.50
The Treasury was suspected of influencing a lower gold price this morning to near $985 to offset expected buying in the metal from news of a rising jobless report of 9.8 percent.
As thinkers know, the unemployment figures are bogus.
From an AP report this morning:“More than a half-million unemployed people gave up looking for work last month. Had they continued searching, the official jobless rate would have been higher.” Boy, that’s a real oxymoron.
And now the sad semi-truth from the same report:
“All told, 15.1 million Americans are now out of work, the (Labor) department said. And more than 7.2 million jobs have been eliminated since the recession began in December 2007.
You can be sure of one thing, the stimulus plan has somewhat slowed down this spiral and when those funds are gone, here comes Stimulus package II and the printing of more money and more currency debasement.
This all is the result of US jobs being exported overseas along with the American consumer being almost tapped out from acquiring more debt and in many cases being unable to service what debt they currently have thus effecting their current purchasing power as 72% of GDP is supported by us. No wonder there is continuing job losses, significantly reduced demand.
A good time to be in gold and the related companies that explore for it and produce it.
Check out the handy-work early this morning by the folks at the Treasury in suppressing the gold price:
in reply to: Gold Enters Major Bull Market #3911Last on gold is $1000.00.
I just completed studying the gold chart supplied Tony Schwensen from the below linked article and am forecasting a minimum move to $1250 within the next six months, that’s a 25% advancement.
in reply to: Gold Enters Major Bull Market #3910Last on gold is $1001.00.
I have provided a link below to a short article written by a long-time silver expert, Mr. Israel Friedman. I submit it here as silver is a by-product of our mine.
in reply to: Gold Enters Major Bull Market #3909Last on gold is $999.80.
The following link is for Rick and possibly others in hopes of understanding the potential of gold in here based solely on an excellent chart presentation from a member of the ECU stock forum section(Bill Murphy’s largest gold stock holdings)at the Canadian website, agoracom.com.
in reply to: Miscellaneous #3908Our gold specimens for sale
I visited http://www.jsmineset.com tonight and saw a picture of Jim Sinclair showing some of his physical gold.
I did see a gold specimen that wasn’t that too eye-appealing that appears to have come from the Red Lake Mine at Red Lake, Ontario. It might be a good idea to send him one of our gold brochures so in his next photo-op he can display some impressive 16 to 1 gold which is certainly more impressive.
Also, send some brochures to the managers of some of gold investment funds.
in reply to: Gold Enters Major Bull Market #3907Last on gold is $1008.70.
Rick
I have always used http://www.golddealer.com in Inglewood, California without ever a hitch. There is a minimum purchase amount but shipping and insurance is always free. Golddealer.com’s prices are competitive.
When you keep it at home, keep it as far away from the bedroom as that’s the first place intruders hit.
Included below is a link to “Here We Go Again” by James Turk that everyone should read.
Gold is the true barometer of your wealth. Get out of the funny money stuff and into the real thing. Even buying a small amount of gold goes a long way according to Mr. Jim Sinclair. It will never be too late to buy gold for the long haul while protecting your family’s wealth.
in reply to: Gold Enters Major Bull Market #3906Where is a good place right now to secure physical gold .999 one ozt bars, and hold them myself?
I missed my chance (my own fault) to purchase from OAu while the mine was unshackled and still free from political crap to operate as a private sector gem.
I have faith, though, that truth and freedom will previal.
in reply to: Gold Enters Major Bull Market #3905Last on gold is $991.80.
Is Social Security our next worry? A few months back the administration decided that for the next two years there would be no upward adjustments on Social Security benefits. Is there any wonder to this considering the following?
Jim Sinclair’s Commentary
No, the USA is not going broke. It already is.
Early retirements strain Social Security: Is U.S going broke?
In the latest sign the Social Security ticking time bomb is almost ready to explode, an unexpected spike in the number of early retirement claims will cause the entitlement program to run a deficit as early as 2010, nearly a decade ahead of earlier projections.in reply to: Stock exchange listing #3904I agree with the last post, and will add that some of the OTCBB trades are still doen the old fashioned way – over the phone between “dealers”.
Also, trades could be done in-house, where the stock is bought and sold between 2 clients of the same firm, where they can put in any buy and sell price that they wish.in reply to: Gold Enters Major Bull Market #3903Last on gold is $994.30.
What if everyone in the world wanted a 1-ounce gold coin?
http://www.kitcocasey.com/articles/2984/what-if-everyone-in-the-world-wanted-a-1-ounce-gold-coin?-/
in reply to: Gold Enters Major Bull Market #3902Gold continues lower tonight with a last of $988.00. Actually, there are many people out there that each time gold breathes while taking a rest they worry. My reaction to this concern is best expressed by watching the debt clock continuously advance.
http://www.truth08.org/widget/
The following excerpts are from the article by Lorimer Wilson entitled “Gold Warrants & Shares have better Prospects Than Gold Itself.” The complete essay is available at kitco.com under commentaries.
The Merits of Owning Gold and Silver Mining Stocks
If gold were to escalate considerably in price (i.e. to $2,000, $3,000, or even more) in the next few years it would have a significantly positive impact on the profitability of the companies who mine it and the royalty companies that buy it from marginal producers. For example, with gold priced at $1,000/oz., and the cost of production at perhaps 600/oz. the gross profit margin is 40.0%.If 2 years from now, however, gold has risen to $2,000 and the cost of production has increased by only 20% to $720/oz. then the mining companies’ gross profit margins will have gone up from $400/oz. to $1280/oz. or 220%!
With such a dramatic increase in their operational profits one could reasonably expect that the share prices of such companies’ stocks would go up dramatically too. That, coupled with the fact that most gold and silver based stocks are still significantly below what they were at their highs back in 2007 would lead one to expect truly major increases in their stock prices. That is the rationale for finding and investing in those gold and silver mining and/or royalty companies with the right mix of capable management, strong financing, major resources and geographically and politically well-located properties to reap the benefits of such a surge in the price of gold and silver. Were the trend in appreciation of the large- and mid-cap producers versus gold remain constant at approximately 3 to 1 (as depicted above) such profits would be exceptional.
in reply to: Water and Arsenic: which came first? #3901Well, on the local level it’s the EPA’s derivitive, the political directive. Every scenario is a derivitive of the farce, that mankind is in charge of the planet.
Roundy rocks are in our river courses because rivers send rocks downstream especially when it rains.
You should go watch. The roundy boulders are the size of Volkswagons and even more, when the rivers deliver the reality and bounty of REALITY….
Humans ain’t in charge…..
in reply to: Water and Arsenic: which came first? #3900Everything is poisonous, nothing is poisonous, it is all a matter of dose. -Bernard
How does the EPA decide how low water arsenic levels should be? It must be below the toxic level, but how did they decide just how low?
Is it the legal level different for the creek versus the mine?in reply to: Stock exchange listing #3899cw3342
In the grey market where we find OSTO trading in public markets, if you can call it that, the $0.0001 trades do not represent a lack of higher bids, they represent a license to steal below bona fide buy limits of other public orders. This is just how the grey market works, it’s a den of thiefs where bids and offers are not in one centaralized book, so to speak, and are all over the place. The grey market is like going to a flea market on Saturday with dealers in different locations offering to buy and sell at all different prices. I guess, it’s just the luck of the draw if you’re not shopping the dealers for the best price and yes, somtimes the seller gets hosed as is evidenced with a $0.0001 price.
The BIG problem for un-be-knowing public is they assume the market is centralized like on Exchanges or in a dealer connected network. Little to they know that placing market orders to sell OSTO stock is like putting themselves on the chopping block.
in reply to: Clips from Alleghany #3898Scoop is back from an unplanned summer break. Alleghany days are hot. Yesterday the town discussion revolved around concern for the gusting north wind whipping through the cedars, firs and pine trees. Fire continues to be in the news. People in the West and our fellow citizens throughout the United States are well advised to discuss fire. Its costs are staggering with questionable benefit to the earth.
Forest restoration could become the path leading our country out of its economic depression. Scoop isn’t crazy. The crazies are the well-meaning advocates, yapping that the forests must be left untouched by human hands. Balderdash! The most knowledgeable folks (certainly not many living in our overpopulated cities who spend an hour or two driving back and forth to work each day) want to move the concept of fire prevention into the realm of forest restoration. There is a significant difference.
How about the cost of an ounce of gold? It wasn’t long ago that a measly ounce cost $300. It’s over a thousand with some “gold experts” predicting another doubling. Scoop doubts we’ll see $2,000 and ounce gold in the coming months. What financial readjustment (not turmoil for those who have some) a price like $1500 would spawn! Even at the current price Alleghany should be alive with gold seekers, gunslingers, those “colorful characters” that appeared here in the gold rush of the 1970’s, serious financiers, adventurers, bored businessmen, wealthy oil profiteers, flim-flam floozies, young men seeking work and miners shouting, “Fire in the hole…Fire in the hole” each shift. That’s a Federal and State requirement each time a miner spits a round, and it is repeated twice. Fire in the hole is music to the gold miners’ minds: the sound of each timed hole exploding, the following smoke and smell plus a look at fresh broken quartz sometimes laced with gold.
Alleghany is quiet as fall approaches, although strangers pass through the last historic gold mining camp in the high Sierra. Some never get out of their truck or car. Some are full of questions. Gold is the attraction and one-reason strangers point their vehicle up a one way nineteen mile trip.
Scoop read about the latest antagonistic business thrust on the mine by the Sacramento water folks and allegations that the entire community has suffered a “Public Nuisance” because of water flowing down Kanaka Creek. Scoop and everyone living nearby knows that the creek poses no public nuisance. Scoop read that a cause of action in a civil lawsuit must state facts or the Court could reprimand the responsible lawyer for knowingly misleading the Court. Can lawyers allege something without any evidence? The Civil Code section 3479 defines nuisance as anything that is injurious to health. What isn’t toxic to health if the dosage is high enough? Oxygen is toxic then because pure oxygen can kill.
Glad to be back. Wish there were thirty miners working here. What’s wrong with this? Here is the oldest producing gold mine in the entire United States, one that has survived over 100 years of uncertainties and lacks the money to mine. If anyone believes that less gold remains on the Sixteen to One mine properties than has been mined in the past, they are not informed. Scoop has asked for an exclusive interview with Mike for his thoughts.
in reply to: Stock exchange listing #3895Street Name means the shares are held in the Brokerage’s name, for your benefit.
Most places charge a fee to issue out certificates, and/or a fee to hold certificates in the brokerage’s vault in your name (local safekeeping).
Most stocks these days are held in Street Name in order to make it much easier to buy/sell/transfer. Although somewhat disconcerting, this has some advantages, unless you are a long-term holder. (Millions of stock certs were lost in the World Trade Center, they are probably still working on figuring all of that out)
If the fees are not too high, try to get the shares issued out to you in certificate form…
in reply to: Stock exchange listing #3897The share price should settle at its actual value.
There are exceptions I would think, and I could be mistaken, but if most hold 16to1 for long term then there are very few sellers which creates an inefficient market. Also, few buyers, probably because not enough people know the story of the mine. Also, no market makers, or at least no consistent market makers.
Someone could be just entering sell orders at market, thinking that the shares have no value. Then if there are not enough limit orders to buy, then that could be where some of the .0001 trades are coming from (this is just guessing on my part.
Probably too many “junior gold” stocks out there that are being “hyped”, and these might tend to attract more attention with traders than some of the decent companies.
These items plus other issues get in the way of shares settling at whatever “actual value” should be.
in reply to: Stock exchange listing #3896I usually buy a stock with every intention of holding it forever. That cost me dearly in 2000, when even some good solid companies were beaten down with the best. Now I have a tendency to sell stuff when the news is especially bad. Works well when the market is going down, since every day that you don’t own a share there is a good chance you made the right move. Lately, it’s good to hold. I trade enough that holding the certificates wouldn’t work for me. The three days to clear rule hurts me occasionally. I bought the shares in Sixteen to One for the long term. I actually held shares in the Brush Creek Mine, that became Jefferson Bootes Enterpises Inc. or something like that. JABI still stares at me when I open my account as a reminder of the mistake. It is valued at 0.00.
I did send Mike the details of my trade. I am not sure what can be done about the share price, except for people to bid the price up. If you put an order in for .08, I’ll have to bid .09. Shouldn’t the share price finally settle at its actual value to an investor?
in reply to: Miscellaneous #3892Dear Mother with two Boys,
Last week on the North Fork of the Yuba River, two men found some beautiful gold placer nuggets. I saw them at the Sierra Gold store in Downieville. They were nuggets, not flakes. They were striking in color and shape. The young fellow said the nuggets came from sluicing and panning. The find was impressive.
They dug under a large rock, using shovels and buckets. The river is low so they spent some time testing areas the looked promising. (Get your kids some good gold books or equipment at Sierra Gold in Downieville or other convenient locations, so your boys can use the experiences of successful gold finders in their mining.)
Your request of the Sixteen to One is one we hear frequently. What the other writer was saying to your request is that this company has responsibilities to its owners, and in today’s litigious society the rewards are not worth the risks of a lawsuit. Also the property is very large and the dangers are many.
You must not be discouraged to give your boys a “gold experience”. In the past our Company geologist has volunteered to prepare boy scouts for a geology or mining badge at the Sixteen to One mine. There are a few really exciting experiences that are free and available to almost everyone. Finding a nugget of California gold is one of those. Happy hunting. Remember: gold is where you find it and most of the gold in California has not been found.
in reply to: Stock exchange listing #3891To lj, below:
Do you have a stock certificate? If so, what is the certificate number and when was it signed?
in reply to: Stock exchange listing #3894I don’t have a single stock certificate for any of the stock that I own. I assume that my brokerage has them. When they take my money for the shares, and charge me a commission, I have to imagine that a real transaction took place. I am out of town, but I will check my account tommorrow and get you whatever information that I can.
in reply to: Miscellaneous #3893Thank you Mr. Miller, and I do understand, its a shame things have to be so difficult. The rewards of all those little faces would sure be wonderful though. Thanks for the advice and your time.
Mom with 2 boysin reply to: Stock exchange listing #3890I know a bit about one of the recent trades, since I was a part of it. After hearing about the trading of shares at low prices, I placed a good until canceled order in my brokerage account for 2000 shares a .05, and another for .07. The order has been in place since early spring. On Sept. 11, my order for 2000 @ .07 was filled. The seller either offered only 2000 shares for sale, or there was another buyer at .07 that bought the remainder. My order at .05 would have been filled if the shares were offered at .001. I don’t know why the shares were offered at market rather than limit, but I know that there was no collusion between buyer and seller, since I was the buyer. The shares of OSTO are often valued at .00 or .01, currently the price is .0001, I suspect they lose value on the market since there are very few trades. I am still unsure why buying shares through a brokerage is “grey market,” but if there are questions about the ethics of the trade I will gladly sell the shares to the Sixteen to One Inc. for the .07 I paid for them. This doesn’t answer the question about the .001 share price mentioned in previous posts, but it at least leaves open the possibility that the shares are sold at low prices because someone gives up and puts the shares for sale at market, and they sell for next to nothing.
PS
Thanks to the ladies at the office for directing me to an access point at Kanaka Creek on Thurs. The trout were very very small, but the scenery was beautiful.
in reply to: Miscellaneous #3889Not a huge corporation, just a mother with two boys, wondering why nobody want to help keep the love for this alive. You would think that you would profit off of something like this.
in reply to: Stock exchange listing #3887Last night I was the guest speaker at the Nevada County Historical Society meeting in Nevada City. Six shareholders were there. Another six people asked me about buying stock. Finding the right answer was difficult. I repeated our history and said that getting a public market is a desire and in our future. I told them about the Grey Market. Their eyes glazed over, so that failed. I said the Company maintained a market for shareholders and non-shareholders. There is no way to explain (briefly) share selling for $.001. Why would those executing those bogus sales take the chance of exposure?
Answer: quick money or unlikely to get caught or ignorant, maybe more. I wrote the following letter to an experienced gentleman I discovered in researching stock markets. He replied rather tersely “you might try to call the SEC if you think there has been misconduct.” Obviously I had hoped for more.
Dear Mr. Lofchie,
I just finished your report of May 1, 2008, co-authored with Moises Messulan about SRO’s. Perhaps you would help us with a problem that haunts the company I have been running since 1983. It is Original Sixteen to One Mine, Inc, (OSTO) incorporated in California in 1911. It is the oldest US gold producing company and longest operating mine in North America. It is also very small
.
When the Pacific Stock Exchange gave up its market, we were one of five companies exclusively listed with no place to go. Currently the Pink sheets show OSTO on its Grey Market. Something very strange has been taking place with trades over the years. Recently 10,000 shares sold for $.0001 a share. The next day 15,000 shares were bought for between $.07 and $.15 for an increase of 70,000%. This concerns us as well as shareholders, who have questions similar transactions.I’ve gotten nowhere from researching rules or ethics applicable to our status and SRO’s. Are transactions as this unprotected by rules? Your guidance is appreciated. I will reciprocate with one of the best underground experiences you will have at the Sixteen to One mine in Alleghany, California.
Regards,
Michael M. Miller, presidentSRO is the self regulatory organization established years ago to assist the SEC by encouraging brokers and dealers to police there own rather than a government agency. I’ve written the SEC with our concerns with no success. Why would it bother? We represent the equivalent of an atom of oxygen in the Pacific Ocean to the stock market industry. Keep searching for answers, friends. It’s interesting, in a perverse way.
in reply to: Miscellaneous #3888I would suggest to the party
who wishes to work the 16-1
tailings that he should consider buying out all the
other stockholders then that
party can rework tailings to
that one’s heart’s content,
orhterwise it will be the 16’s
option to rework or not rework.in reply to: Stock exchange listing #3886Those are our shares Rick.
The grey market for our shares is NY is probably, $0.0001 bid and offered at $0.07. If you can buy 10,000 shares at $0.0001 it’ll cost you just one buck. It’s quite apparent that this market exists to steal from selling shareholders.
I think it’s fairly resonable to state that those shares trading are from street name to street name requiring no name changes at the transfer agent. If someone is short then they just borrow from another member or never even deliver the shares, it happens all the time with the regulators looking the other way.
Setting the price at $0.0001 means a couple of things: The seller is being robbed or the short seller, higher up, is making a demonic profit.
The Canadian markets may be many things but one important aspect they do represent is EXPOSURE. Canadian markets are viewed daily by people around the globe. The grey market in NY might as well be a dead-ended alley full of garbage and two-legged relievers.
I believe someone should start marketing gold specimens to the public as outstanding wealth preservers. I have a fair amount of 16 to 1 gold pieces representing part of our family’s core investments against possible devaluation and as a hedge against the continuing destruction of our currency’s purchasing power. And to boot, if the government calls in the gold then we’re protected as we’re only holding mineral specimens.
It is absolutely amazing to me that no one is really interested in buying these beautiful rare gold specimens from us. When somebody wakes up they’ll be gone in a flash. You all have an opportunity today, right now. When they are gone, they will be gone forever, locked up as a calamity reserve for someone’s future financial security.
Some morning we’ll wake up to the news of a currency devaluation along with the banks being closed. When this happens all gold related items will make the adjustment to higher levels as our currency holding in the banks will be worth much less in international terms.
Sure, the FDIC insures our dollar bills in the banks but ONE thing they don’t insure is maintaining our purchasing power. It’s goes completely beyond my understanding why folks continue to keep their wealth in our currency denominated items when China has basically been calling our financial system a complete sham for many months.
According to the words in the Patriot Act, any gold coins worth more than 2 times their spot price are not considered bullion. The better gold specimens from the mine are worth well in the excess of 2 times spot. So, why wouldn’t the specimens qualify for exemption if big brother comes calling for your gold?
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