The USA has no gold in fort knox

MrEnglish

Oh Hamish, at least we agree on one thing. Gold is currently in a massive bubble and its not even 25% inflated yet.


About the relevance to this board, I think its appropriate to talk about gold and silver here,as well as the investment board. This subject has everything to do with house prices and the economy. Anyone who disagrees with that needs to get educated in monetary history.

LisbonLaura

HAMISH_MCTAVISH wrote: »

Rubbish.

It's a commodity, that fluctuates wildly in value according to the fickle whims of the market.

And it's currently in a massive bubble.

I do hope you can sell quickly to preserve your "wealth" when it crashes.....;)

Gosh Hamish, you do know a lot ....

DiggerUK

HAMISH_MCTAVISH wrote: »

.......And it's currently in a massive bubble..(gold)......

Nonsense, a bubble needs to be force fed with easily available, plentiful, cheap credit.
As we are in a credit crunch, were is said credit coming from.
Gold is going higher because currencies are tanking.

LisbonLaura

DiggerUK wrote: »

Nonsense, a bubble needs to be force fed with easily available, plentiful, cheap credit.
As we are in a credit crunch, were is said credit coming from.
Gold is going higher because currencies are tanking.

Digger, you are feeding pearls to swine.

He will take it as a personal attack.

MrTomato

http://en.wikipedia.org/wiki/Gold_standard
^^ it is relevant in this board.

But it's all buried under New York really.

DiggerUK

MrTomato wrote: »

http://en.wikipedia.org/wiki/Gold_standard
^^ it is relevant in this board.

But it's all buried under New York really.

1. Wikipedia is the most manipulated and unreliable source on the planet.
2. The Federal Reserve Bank does not own any gold anyway, nothing is buried in New York.

MrTomato

DiggerUK wrote: »

1. Wikipedia is the most manipulated and unreliable source on the planet.
2. The Federal Reserve Bank does not own any gold anyway, nothing is buried in New York.

The Gold Standard is still real and relevant to monetary policy and the economy.

I think you'll find gold is under New York in vaults. The New York Federal Bank has a vault.

http://www.newyorkfed.org/aboutthefed/visiting.html

DiggerUK

MrTomato wrote: »

......I think you'll find gold is under New York in vaults. The New York Federal Bank has a vault......

They do indeed have vaults stuffed with gold.
The Federal Reserve does not own it however.
Fed have not owned any gold since it was confiscated by US government in 1933.
http://www.newyorkfed.org/education/addpub/goldvaul.pdf

Page 1, paragraph 3. Introduction.

pelirocco

Harry_Powell wrote: »

What has it got to do with house prices and the economy?

Have you read the posts in this forum? , have many of them anything to do with with house prices / economy?

DiggerUK

pelirocco wrote: »

Have you read the posts in this forum? , have many of them anything to do with with house prices / economy?

The strength of the money that an economy uses can be measured by the price of gold (pog).
The more debased and inflated the currency is, the higher the price of gold in fiat.
Do you think the pog has gone to the levels it has because of a few gold bugs buying?
Gold has everything to do with the economy, and consequently the price of everything, not just houses.