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I have never heard that,I know in time of crisis,it can borrow your vehicle,tools,and use your warehouse,mansions,planes.tractors,crawlers.
If you are a big buyer of gold,your dealer could store it for you either here,or SWITZERLAND or Singapore .
I have seen pictures of Argentinians sitting in their living room of an apt watching TV and under the coffee table is a Mercedes engine?
Why?
As the peso becomes worth less,rich people will pay more for their foreign imports,so hoard what appreciates in value.
Maybe, maybe not. Some things are getting obsolete quickly.
Quote:
Originally Posted by mojo101
I have never heard that,I know in time of crisis,it can borrow your vehicle,tools,and use your warehouse,mansions,planes.tractors,crawlers.
If you are a big buyer of gold,your dealer could store it for you either here,or SWITZERLAND or Singapore .
As for the saying Gold is money,everything else is credit.
We should all be buying gold,wheat,rice,lithium,platinum,copper,coal,timbe r,cobolt,uranium,even leg of lamb,beef,****ake mushroom dried,canned tuna,spam,sugar,flour,toilet paper.
Owning lead, you can get any of these things (and more.) The key is to not let anyone know, you have anything, (especially lead.)
I have a bad feeling if we have a cold winter,fuel cost will go thru the roof !
I am in TX,it is starting to get cold in morning and evening,67 degrees when I wake up this morning.
And OPEC Plus will squeeze us,Saudi does not like Biden,there is an ANTI WESTERN movement going on,why deplete your resources so the developed countries can live better and sell manufactured goods back to us.China has opened their eyes,that they can make things too.
Take a look at the European countries-UK,France,Germany,Belgium,Austria,how much are they paying for oil and gas?
I wonder why, while 300 tons sounds like a lot, it's 8.5 billion dollars (60 billion CNY) worth at $1,770.78 an ounce. If a country purchase it, it hardly enough to use it to back there currency, the GDP of China is 12 trillion dollars, and 9840 billion CNY currency in circulation, it's barely enough back 1/2 of a percent of Chinese currency with gold.
Thinking: that's probably a small drop in the ocean of gold, so gold really is not a rare commodity. There is an awful lot of it if it can be sold 300 tons at a time.
Thinking: that's probably a small drop in the ocean of gold, so gold really is not a rare commodity. There is an awful lot of it if it can be sold 300 tons at a time.
Thinking: that's probably a small drop in the ocean of gold, so gold really is not a rare commodity. There is an awful lot of it if it can be sold 300 tons at a time.
but it is not every day someone bot 300 tons of gold.
where there is a buyer,there is a seller,in the past,Venezuelan central bank erase the marks of its gold ,airlift to some third world country, refined it and try to sell to some Middle Eastern country.
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