Gold

[TimberWolf]

is doing worrying well again today, another record set, etc.

I don't usually have much time for imperial measures, but it passed £1000/troy ounce today, plus the metric £32,000/kg. Quite a steep slope going on currently too. Jesus.

 

[sasguru]

is doing worrying well again today, another record set, etc.

I don't usually have much time for imperial measures, but it passed £1000/troy ounce today, plus the metric £32,000/kg. Quite a steep slope going on currently too. Jesus.

Looking overpriced to me - traditional safe haven for the economically illiterate.
There are other investments that will pay more when Greece defaults.
And I expect a good payout after the EC meeting on Thursday.

 

[AlfredJPruffock]

is doing worrying well again today, another record set, etc.

I don't usually have much time for imperial measures, but it passed £1000/troy ounce today, plus the metric £32,000/kg. Quite a steep slope going on currently too. Jesus.

Its the end of Fiat currencies as we know it.

 

[sasguru]

Its the end of Fiat currencies as we know it.

Au contraire. The rump Euro (Mark or whatever its called) will be one of the strongest currencies in the world.

 

[Lockhouse]

The gold boom not over yet....

The gold boom not over yet....

Not by a long shot....

 

[Jog On]

Looking overpriced to me - traditional safe haven for the economically illiterate.
There are other investments that will pay more when Greece defaults.
And I expect a good payout after the EC meeting on Thursday.

If it's predictable and easy to make money from I'll be economically illiterate any day!

 

[sasguru]

If it's predictable and easy to make money from I'll be economically illiterate any day!

Carry on.

 

[DimPrawn]

If it's predictable and easy to make money from I'll be economically illiterate any day!

WHS.

I feel terrible it's so easy to make the big money with gold and silver.

 

[DimPrawn]

Last time people lost faith in paper money in Europe.

 

[AlfredJPruffock]

Au contraire. The rump Euro (Mark or whatever its called) will be one of the strongest currencies in the world.

Well SG old bean its like this ...


The tottering Euro is one more indication of what happens to a world commerce that is focused on and driven by growth.

There has to be growth at all costs, we all function on the profit motive.

There can be no standing still or regression. Money must make more money because we all
need more of it to pay for constantly rising prices…caused by everyone being paid more money, and so on..and on and on..ad infinitum.

At least that’s the theory so beloved of flat earth economists.

Problem is that our Earth is round,and in spherical earth economics, one man’s profit is always another man’sloss.

For 200 years we have been able to mask this truth by the constant input of ‘unlimited’ fossil fuel energy.

We have extracted coal oil and gas and pumped it into the global economic system and called it ‘gross domestic product’.

(Imagine borrowing money to start a business, then insisting that the loan was your profit).

Our entire industrial complex has been engaged in burning our fossil fuel inheritance, deluding all of us into thinking we’ve made vast profits which we spent creating our current lifestyle.

Instead, we have built a world scale Ponzi scheme, sucking in global assets at the bottom and paying profits to the lucky few at the top.

Despite frantic reassurances from ur economists that this can go on forever, without cheap fossil fuel input, it can’t.

This is why the major world currencies are unstable because we are at the end of growth; energy has become too expensive to support our infrastructure.

The Ponzi scheme is collapsing...

In other words - I promise to pay the bearer.........

Zilch.
Not a sausage .