Intelligence

[Explosive]

The answer is staring us all in the face.

[HALODIN]

It didn't go down because it's manipulated down, it went down because the conditions changed. Traders game everything on the way up AND the way down and it applies to all markets. The price can be lower than the price of production, which is why miners sold their book forward up until 2010. This is after all why the futures markets exist, to hedge volatility. They'll sell their book forward again.

Don't believe the conspiracy theorists when it comes to G&S, they confuse cause and effect and add in a dose of paranoia. You'll never predict the price by listening to them.

It's manipulated by the powers that be, what do you expect ? The price is low... almost or lower than production costs.

The banks are hoarding precious metals, why do you think that is ?

[Explosive]

I make up my own mind about what happens and why. So far at least I have not lost anything by taking this approach.

Of course the metals are manipulated, how can they not be when the vast majority of metals they sell do not even exist ?

The banks are hoarding physical precious metals, why do you think that is ?

[meles meles]

*Invests in an ingot of lead, casts it into bullets. Smiles at the diminishing circles on the target map to where the location of gold has been narrowed down...*

[snayperskaya]

Just a thought but in a severe SHTF scenario where life as we know it has pretty much gone and not comint back anytime soon and it's every man for himself so to speak will gold/silver still have a value or will other, shall we say more practical items, become the new currency?.

[HALODIN]

It's not manipulated on a long term basis (but it is manipulated on a short term basis), it's just the way the system works. If you're going to take the conspiratorial approach, then the whole banking system is fraudulent because there isn't enough cash to cover deposits. It's the same with an IT helpdesk, the NHS, the Fire Service, the Police etc... if everyone needs the service at the same time, it all falls apart. The COMEX is designed to service a small percentage of traders standing for delivery, because hardly anyone wants to take delivery. This is what I mean by confusing cause and effect.

I don't think hoarding is the correct terminology, China "hoarded" far less than everyone thought they had. It transpires that the gold that left the west for the east was in fact for the Chinese people and not the PBOC.

Of course the metals are manipulated, how can they not be when the vast majority of metals they sell do not even exist ?

The banks are hoarding physical precious metals, why do you think that is ?

[snayperskaya]

*Invests in an ingot of lead, casts it into bullets. Smiles at the diminishing circles on the target map to where the location of gold has been narrowed down...*

It strikes me that in a TEOTWAWKI scenario I'd sooner have several thousand rounds than a bag of silver or gold.

[HALODIN]

They would reassert themselves for the same reason they were chosen in the first place. i.e. gold doesn't tarnish/corrode, it's easily divisible, it's fungible etc...

Just a thought but in a severe SHTF scenario where life as we know it has pretty much gone and not comint back anytime soon and it's every man for himself so to speak will gold/silver still have a value or will other, shall we say more practical items, become the new currency?.

[Explosive]

Just a thought but in a severe SHTF scenario where life as we know it has pretty much gone and not comint back anytime soon and it's every man for himself so to speak will gold/silver still have a value or will other, shall we say more practical items, become the new currency?.

There are no practical items in the UK in wide enough circulation to make a difference. Everything is government controlled and enforced by the pigs


Precious metals are still money when paper collapses. It's impossible to print physical gold. SHTF has happened before, currencies have come and gone but real money survives.

BTW Silver is a crap buy in the UK as VAT is charged when you buy it.

[HALODIN]

Only if you take delivery. If you use a service like goldmoney.com or bullionvault.com you don't pay VAT. Even if you did buy some capital gains tax free silver Britannias you would just pass on the cost of the VAT to the person who buys it from you.

BTW Silver is a crap buy in the UK as VAT is charged when you buy it.