US to Gold Standard

Not going to happen. The Bill is just election year eye candy. There was a reason Nixon killed the gold standard.

Nixon shock - Wikipedia

that and he had no real choice....

 

China / Russia one belt will set the way And has started . Venezuela fuel ships have started & so has the money flow back to feed the people . New pipelines from the sandbox to Russia & China . There is a HUGE change coming , the China factory needs fuel & the Russia / China plus the rest of the world has had enough of being told how it's going to be from the IMF /Bankers / FED controllers .
We are in the same BS boat , Kanada got rid of gold since our new idiot said so !! We have HYDRO POWER , FUEL , GRAIN thats not GMO screwed , rape seed is gone the GMO . Many farmers have kicked out the GMO problems of control (Farmers joined in to coops and are winning [Im one]) ..
Things are going to change , BIG time , the sucking out of our pockets to help with freeloaders etc will cause a uprising etc.

I'm with G girl , lets watch , BUT be prepared

Sloth

 

A watch for folks that don't read :

 

This is What we have in Canada's problems Plus .

Im never picking on USA folks .
It is to the USA Deep State / FED /Bankers , see our's

:

 

China Yaun

 

Even longer


A watch , plus him and many posted are Americans , time to open eyes .

Way above many :the

 

Ok, there may be around 5 Billion ounces of gold above ground.
There is about $15.5 Trillion in trade between countries ..
To satisfy just trade between countries .. gold would have to be around 3100 per ounce if my math is right.

There is about $78 Trillion in world GDP (trade between nations and inside of a nation's own borders .. domestic spending)
So if the world was going to conduct all trade in gold .. gold would probably need to be north of 15k per ounce .. and transporting that around between nations .. well that's not even included. But it would make piracy fun again methinks.

So, in gold we trust .. but we're still going to use fiat, just cause it's easier as long as you trust my pledge that my money is worth what I say it is .. and if you don't accept that .. well, have you heard of Regime Change?

 

While I get your point, we haven't pulled all that much gold out of the ground in say, 50 years. So, the reason there is such a high value to trade is inflation. Honest to God, if crap wasn't so inflated in price, gold wouldn't have to be so "expensive".

There are some innovations and technological uses for gold that didn't exist back then, but they alone can't account for the rise.

Prices have risen on everything, and wages have gone up to compensate if not necessarily keep pace. Nobody is going to want to take an 80% pay cut but if EVERYTHING took an 80% cut then it would be a wash. Gold might still go up some % but not need to go up 20x.

 

I'm not expecting the US to go back on the gold standard.
The only thing I have seen change in value 20x from low to high is palladium and rhodium.
In 2008 or 2009 palladium bottomed out at 160 an ounce, a few months ago it was $1100 an ounce.
Rhodium was $400 back around 2004 and was hitting over $10,000 3 or 4 years later.

 

Thanks for that @oil pan 4 I always read your trading posts, dont have alot of comments because i dont know that much about trading metals. But you always have great info and analysis.

I dont necessarily think that Gold will be the standard either. I do think we are going to hard asset backed currency, which is where I think @oil pan 4 metal trading info will come in handy. Hard assets can be anything from oil, metal and other resources. I could include commodities but as those are perishable it will be a different calculation than metals or oil. This will make currencies with the most hard assets a better currency to trade.

an example is that Austrailia revealed an oil reserve of 233 billion in oil about 5 years ago
"The Next Saudi Arabia": An Australia Desert Town of 3,500

this means the Aussie Dollar will be solid for years to come

Any country with good hard assets will be a contender in the world market

 

Do what I do and you can double your money in 2 or 3 years and expect the minimum buy in to be between 500 to $2,500.
But the opportunity only comes along about once every 3 to 7 years.
I'm not looking at gold or silver at all, well if gold or silver does hit say a 20 or 30 year low I'm cashing in everything, all god or silver (which ever one isnt bottomed out) platinum group metals, 401k, tsp, guns.
For PM other than gold and silver I'm looking platinum some what, palladium, rhodium, ruthenium and possibly iridium.
I would have tripled my money already had I bought ruthenium instead of rhodium, but I was unable to locate a price chart when the price bottomed out to $55 an ounce. Yesterday the bid was 180.
When I bought palladium back in 2008 it was at a 30 year price low, I bought 5 ounces for $850, then in 2012 or 13 I sold it for 870 an ounce so did 5x my money in 4 or 5 years.
I bought my 5Oz rhodium bar for $4,000 in 2015, the bid right now is $9,350.
The good thing about these platinum group metals is they are ultra rare. Occasionally the toilet does flush on their price but we know their value will never drop to zero like happens with stocks when the parent company goes under.
So there is nearly 0 risk when buying at a 10 year low.

 

Can't find charts ??!!!

Gold Price Today | Price of Gold Per Ounce | 24 Hour Spot Chart | KITCO

Here is all , plus look into the links on this page for PB to CU plus all with a Element abr

Sloth

 

Ghrit posted a link to infomine dot com and they do ruthenium.

 

Here is the text of the actual bill

https://www.congress.gov/115/bills/hr5404/BILLS-115hr5404ih.pdf

 

Well gold is near a 4 year high. I wouldn't buy.
Big bankers manipulated our government into going off gold, they are not about let it go back.
Our career politicians are too easily controlled by big money.

 

Yuan -Gold is to be the NEW standard , As with Russian ruble-gold , Fort Knox if MT will be the start of the North American 4th world .
The Brits took all of the canuks gold & have been milking kanada from all it's resources for years , What dose the Queen & GB really do ? but suck money from the colonies ..
Were TAXED to DEATH & after .

As OP4 posts , gold should be back down to 170 $ as in 1970's as when I started
I can't see it going lower than it costs to pull it out & process it , plus minting . one troy oz minted cost 1200-1300 $ ,could be why China & Russia have horded it & Germany wanted theirs back from the MT knox

 

Most of what's left is 1,000 an ounce or higher to mine in developed countries.
There is plenty of 1500 an ounce gold out there still in the ground.

 

When Africa gets to producing gold it will drop dramatically. it's coming

 

Africa already produces gold. They get money and man power from china.
Same thing in Afghanistan, we secured the county so the Chinese can move in and mine it out.
They have only had 10 to 12 years of stable $1000+ gold prices, I think most of what' going to happen already has been started.