Gold Price - Where is it heading?

[finicky]

Wonder if it'll have some bearing that Donald Trump and Don Jr are keen on gold.

Donald Trump Jr’s Gold Company is Birch Gold Group

The official Donald Trump Jr gold company, Birch Gold Group, announces Don Jr’s endorsement. Here’s why Don Jr. chose us…

www.birchgold.com

'House and Garden' headlined an article, July 2020, on Trump's Manhattan apartment as a "monstrosity". Really? Anything to get at him and pledge allegiance to the democrats and the swamp I guess. I'm not into opulence and it's not a pad I could vege out in, but I think it's beautiful.

 

[Garpal Gumnut]

Wonder if it'll have some bearing that Donald Trump and Don Jr are keen on gold.

Donald Trump Jr’s Gold Company is Birch Gold Group

The official Donald Trump Jr gold company, Birch Gold Group, announces Don Jr’s endorsement. Here’s why Don Jr. chose us…

www.birchgold.com

'House and Garden' headlined an article, July 2020, on Trump's Manhattan apartment as a "monstrosity". Really? Anything to get at him and pledge allegiance to the democrats and the swamp I guess. I'm not into opulence and it's not a pad I could vege out in, but I think it's beautiful.

A very interesting article on Birch Gold I could do without the pictures though. So Don Trump Jr is now spruiking gold to Americans. I was surprised how little gold is in private American hands so it is a good move on his part. The Don Fleckenstein youtube posted by @ducati916 on the previous page goes in to some detail on actually how little it is.



gg

 

[qldfrog]

Let's see

 

[TimeISmoney]

Let's see

Uncle Sam is coming after your gold stash bro.

 

[Garpal Gumnut]

Let's see

If nobody has checked Fort Knox for 54 years to make sure that Gold stores are correct it is almost guaranteed that some has been stolen and removed. The only way that a stash of Gold can be guaranteed to be intact is if it is checked frequently or the original holder has died and nobody knows it exists. The latter occurs as in "archaeological gold" found in England every few weeks or months by metal detectors.

There have been frequent deficits found to be present in other central banks' Gold stores by pilfering. The Peron's in Argentina were notorious for this. It is difficult to assess the effect on the price of Gold when DOGE investigate and find some missing.

gg

 

[Sdajii]

If nobody has checked Fort Knox for 54 years to make sure that Gold stores are correct it is almost guaranteed that some has been stolen and removed. The only way that a stash of Gold can be guaranteed to be intact is if it is checked frequently or the original holder has died and nobody knows it exists. The latter occurs as in "archaeological gold" found in England every few weeks or months by metal detectors.

There have been frequent deficits found to be present in other central banks' Gold stores by pilfering. The Peron's in Argentina were notorious for this. It is difficult to assess the effect on the price of Gold when DOGE investigate and find some missing.

gg

I've read several times about how Fort Knox was looted and the bars replaced by fakes and it wasn't realised until some years later (which is now decades ago). I certainly can't confirm the story conclusively but it certainly seems very plausible and there is indirect evidence it is the case, such as when other countries with gold stored there said they no longer wanted the service of storing their gold there and the USA saying it would take several years to return it. Difficult to see how returning it could take several years, a little at a time, if it was indeed still there. Of course the official story is always going to be that nothing like that has ever happened and Fort Knox is incredibly secure, and that's coming from the same government which told you Epstein killed himself, Biden was fully mentally there and running the country rather than a puppet, those vaccines were definitely >99% effective and safe (before they'd even been tested!), etc etc etc.

If I had to guess, I'd say the story is true and Fort Knox was mostly looted. The motives for the USA covering up the theft are obvious, as of course is the motive for the theft, with multiple people having the option of stealing from there if they so chose. Fort Knox has stored gold since before CCTV surveillance existed. Imagine how easy it would have been for people trusted to guard it.

I'd also speculate that similar has happened to many gold stores around the world, and the actual amount in global storage is significantly lower than the reported amount, with some of the difference being lies such as Fort Knox, and some of it being undiscovered, such as gold reserves being looted and replaced by gold-plated alloy bars and the owners genuinely not yet knowing. Additionally, a lot of gold bars in storage are purchased as fakes to begin with, probably mostly those purchased by naive private individuals rather than large stores, and it's difficult to estimate the percentage, but it's certainly something which happens.

I wish I had access to some oracle of knowledge which could tell me all manner of things, including how much unreported gold exists, how much reported gold doesn't exist, and how much has been lost (such as sunken ships, people burying it or storing it in secret locations then dying or forgetting where it was, what percentage of gold sold is fake etc.

 

[divs4ever]

A very interesting article on Birch Gold I could do without the pictures though. So Don Trump Jr is now spruiking gold to Americans. I was surprised how little gold is in private American hands so it is a good move on his part. The Don Fleckenstein youtube posted by @ducati916 on the previous page goes in to some detail on actually how little it is.



gg

there is a reason so little gold is in US ( private ) hands ( officially )

.. remember when the Government made gold possession ( apart from old coinage ) illegal

i have this philosophy ,if they have done it once , they may do it again ,

now hidden in varies holes , and under floors , etc. US citizens might hold a reasonable amount of silver and gold , but would they be dumb enough to brag about their little stash ??

 

[qldfrog]

While it is most likely the reserve has been looted, and easy to prove it by the DOGE team if given access, would we know about it?
Imagine if the safe is empty:
#Trump can not blame it on Biden or the democrats only, actually hard to blame on the actual culprits
#this would prevent him to reevaluate the now missing stock, so this whole policy/economic option goes in smoke
#it is disastrous for the US brand, bad for the USD, and bad for the USA..and we have the first president in ages who actually cares about the later.
# side impacts on foreign governments who stored their stash overseas: Germany but even us as we should demand repatriation drom London
Overall,i personally prever truth to lies, but it will be a difficult decision once POTUS knows the truth to actually release it.
My prognosis:
DOGE starts the inventory, discovers in a few days the extent of the shortage, everything is dropped so everyone can still legally say "i do not know" in front of a commission/juge.
And the can gets kicked further

 

[TimeISmoney]

there is a reason so little gold is in US ( private ) hands ( officially )

.. remember when the Government made gold possession ( apart from old coinage ) illegal

i have this philosophy ,if they have done it once , they may do it again ,

now hidden in varies holes , and under floors , etc. US citizens might hold a reasonable amount of silver and gold , but would they be dumb enough to brag about their little stash ??

They can seize gold in Australia under the Commonwealth, they passed the law in 1959

 

[TimeISmoney]

While it is most likely the reserve has been looted, and easy to prove it by the DOGE team if given access, would we know about it?
Imagine if the safe is empty:
#Trump can not blame it on Biden or the democrats only, actually hard to blame on the actual culprits
#this would prevent him to reevaluate the now missing stock, so this whole policy/economic option goes in smoke
#it is disastrous for the US brand, bad for the USD, and bad for the USA..and we have the first president in ages who actually cares about the later.
# side impacts on foreign governments who stored their stash overseas: Germany but even us as we should demand repatriation drom London
Overall,i personally prever truth to lies, but it will be a difficult decision once POTUS knows the truth to actually release it.
My prognosis:
DOGE starts the inventory, discovers in a few days the extent of the shortage, everything is dropped so everyone can still legally say "i do not know" in front of a commission/juge.
And the can gets kicked further

Interesting to see if any is missing, I wouldn't trust Trump or Elon with the task, they're already bypassing laws to do what they like.
A lot of the missing gold is from places in India where it's hidden in volts under shrines, fort knox has been well guarded for years. A lot of gold has it's own DNA, even when they melt it down and mix it with other gold they can trace its original origin.

 

[qldfrog]

Interesting to see if any is missing, I wouldn't trust Trump or Elon with the task, they're already bypassing laws to do what they like.
A lot of the missing gold is from places in India where it's hidden in volts under shrines, fort knox has been well guarded for years. A lot of gold has it's own DNA, even when they melt it down and mix it with other gold they can trace its original origin.

Not so sure about the DNA, yeap trace elements will indicate mining areas but sadly not exactly dna precision and once melted and remelted...

 

[ducati916]

If nobody has checked Fort Knox for 54 years to make sure that Gold stores are correct it is almost guaranteed that some has been stolen and removed. The only way that a stash of Gold can be guaranteed to be intact is if it is checked frequently or the original holder has died and nobody knows it exists. The latter occurs as in "archaeological gold" found in England every few weeks or months by metal detectors.

There have been frequent deficits found to be present in other central banks' Gold stores by pilfering. The Peron's in Argentina were notorious for this. It is difficult to assess the effect on the price of Gold when DOGE investigate and find some missing.

gg

So assuming for the moment that the vaults are empty. What happens to the POG?

Does it rise in a ballistic fashion or fall?

Why?

jog on
duc

 

[qldfrog]

So assuming for the moment that the vaults are empty. What happens to the POG?

Does it rise in a ballistic fashion or fall?

Why?

jog on
duc

The dilemma: paper gold via ETFs collapses due to trust issue while physical gold keep rising due to scarity in the west .
Usd goes down

 

[divs4ever]

"Let's Do It": Rand Paul Supports Fort Knox Physical Audit After ZeroHedge Suggestion Goes Viral​

"Let's Do It": Rand Paul Supports Fort Knox Physical Audit After ZeroHedge Suggestion Goes Viral | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

will be interesting to see the excuses that flood out why the audit shouldn't be done

that alone should tell you everything

 

[divs4ever]

BTW there might be actual gold in there but promised out 3 and 4 times over ( maybe more )

there is that possibility

 

[qldfrog]

BTW there might be actual gold in there but promised out 3 and 4 times over ( maybe more )

there is that possibility

I believe it won't be empty but how much has actually be lended , and physically shipped away:
Are we talking single figure digit: 6-7 %
Or horrendous 20%? 60% ? or even worse

 

[Sean K]

So assuming for the moment that the vaults are empty. What happens to the POG?

Does it rise in a ballistic fashion or fall?

Why?

jog on
duc

Initially a shock, but then I assume it goes ballistic because there's not as much as we thought, so it's even rarer and we can't trust the vaults, let alone the paper. Everyone will scramble for physical pushing prices to Jupiter.

 

[TimeISmoney]

So assuming for the moment that the vaults are empty. What happens to the POG?

Does it rise in a ballistic fashion or fall?

Why?

jog on
duc

I don't think they would admit it, because it would be very bad for their banks and currency if so.

India, Russia, China and a few smaller countries still buying up or have done so in the last 3 years.

 

[Sdajii]

While it is most likely the reserve has been looted, and easy to prove it by the DOGE team if given access, would we know about it?
Imagine if the safe is empty:
#Trump can not blame it on Biden or the democrats only, actually hard to blame on the actual culprits
#this would prevent him to reevaluate the now missing stock, so this whole policy/economic option goes in smoke
#it is disastrous for the US brand, bad for the USD, and bad for the USA..and we have the first president in ages who actually cares about the later.
# side impacts on foreign governments who stored their stash overseas: Germany but even us as we should demand repatriation drom London
Overall,i personally prever truth to lies, but it will be a difficult decision once POTUS knows the truth to actually release it.
My prognosis:
DOGE starts the inventory, discovers in a few days the extent of the shortage, everything is dropped so everyone can still legally say "i do not know" in front of a commission/juge.
And the can gets kicked further

I don't think DOGE is relevant here. If Fort Knox and other storage facilities have been looted, the US government worked it out decades ago. I didn't bother discussing it in my previous post but you brought up some of the very very obvious motives for the US government keeping it secret. They would be insane to reveal the truth to the public on that one. I prefer transparency but even I would not want that story being made public. Sure, if it happened in China, by all means expose it as far as I'm concerned, but when the USA has been the primary force keeping the world safe since 1945 and without them I'd have been killed by Indonesians as a kid, and the world would be run by one or a small number of genocidal dictatorships (and everyone would look at history and learn about how the Germans and Japanese did a wonderful job of defeating the evil, ignorant Americans and British and all those terrible, inferior Jews and blacks and south east Asians etc were removed from our planet).

So, as terrible as the USA is, most of us owe our existence and all of us owe our way of lives to them, because evil as they may be and as much as we should try to force them to improve, they are the far lesser evil holding back tremendously greater evil which would still love very much to exterminate us, and I don't wish to see them fall.

Today, with modern surveillance technology and equipment which can assess gold bars without cutting them up or melting them down, looting gold from places like Fort Knox would be far more difficult and detection far easier, but the looting was probably done before I was born and it was likely discovered before I knew who the president of the USA was. I'd love to know the true story, but in a way, I'm glad I never will.

 

[ducati916]

With the transfer of pretty much all of the gold out of London, ostensibly for arbitrage reasons to New York, makes you think.

An arbitrage trade incidentally does not require physical, it is cash settled.

You SELL the overpriced, BUY the underpriced and settle the short position. There is no requirement for a physical settlement.

Also remember it took Germany 3yrs to obtain their physical from the Yanks. In addition they, a sovereign nation, were not allowed to inspect or view their own gold.

jog on
duc