# $1300 and going



## Anonymous (Sep 28, 2010)

How far can gold go? I've got $1000 US for anyone that can accurately answer that................of course pretty soon that $1000 will only be worth a meal at Mcdonalds.


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## Oz (Sep 28, 2010)

Well I need to know if you are talking London Bullion Market Am or Pm fix, Comex, or Kitco close as well as the date you are looking for in order to win your money. ;-)


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## Mrslow55 (Sep 28, 2010)

By what year? .. . if you realy believe we are not far away from $1000 meals at Mickey D's, and say a meal costs you $5 now, adjusting at a 200 to one ratio would put gold at $260,000 per tr. oz. . . . . .. .. I don't know about you but I don't think I can hold my breath quite that long .. . . . but .. . .would be interesting . . .. 
Rick


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## Anonymous (Sep 28, 2010)

lol....you guys are too much.
I only posted it to make everyone that reads the new posts aware that we hit the $1300US mark.Just confirms how well our commander in chief is doing, :roll:


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## Chumbawamba (Sep 28, 2010)

I'll settle it absolutely right here and now:

Gold will eventually be priceless in terms of US dollars.


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## metatp (Sep 28, 2010)

Chumbawamba said:


> I'll settle it absolutely right here and now:
> 
> Gold will eventually be priceless in terms of US dollars.



Does that mean that gold will really only be worth the same amount, but the dollar (as well as most other currency) will be worth less? If I spend $5 in gold for a meal at McD worth $5. If I buy the same meal in 5 years, will it cost me the same amount of gold?


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## gold4mike (Sep 28, 2010)

I read an article somewhere that talked about just that. The premise was that the same number of ounces of gold that could buy you a new car in 1973 (?) will buy you a new car today.


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## Anonymous (Sep 28, 2010)

HTPatch said:


> Does that mean that gold will really only be worth the same amount, but the dollar (as well as most other currency) will be worth less? If I spend $5 in gold for a meal at McD worth $5. If I buy the same meal in 5 years, will it cost me the same amount of gold?


Yes. Inflation is based on the fall of value,of face vaue,of printed money.Therefore 2 grains of gold valued at $2 many years ago,was about what a meal cost at mcdonalds,now that same 2 grains being worth $5.5 today,would still buy you the same meal at the same mcdonalds today.


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## patnor1011 (Sep 28, 2010)

But... Did anyone tried to calculate value our jobs are worth in gold and what that was worth in say 70ties? Income what we are taking home after all taxes? (carbon taxes too)


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## GrailSeeker (Sep 28, 2010)

mic said:


> How far can gold go? I've got $1000 US for anyone that can accurately answer that................of course pretty soon that $1000 will only be worth a meal at Mcdonalds.



Not even those lazy rich "teenagers" at the stock market and governments' posts can answer that accurately. :lol: If humanity would have no wars, famine and all activities were based on common goals and values against a common enemy (ie. aliens :mrgreen: ) then you would have a pretty hefty amount of factors out of the denominator. 

Now can I have my grand please? 

http://www.youtube.com/watch?v=wt_59GY6DqU


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## Chumbawamba (Sep 29, 2010)

What I meant is that the dollar, like all fiat currencies, will eventually be worthless, and no amount of dollars will be tradable for gold.

Ok, I can see someone trading several tons of old dollar notes for some gold for the linen that the notes are made of, but the purchasing power of the dollar itself will one day go POOF. And, actually, that day is coming soon.


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## Anonymous (Sep 29, 2010)

> but the purchasing power of the dollar itself will one day go POOF. And, actually, that day is coming soon.


Agreed.Thats what I was getting at in the first place.I would love to see my gold worth $50k and ounce,but that will just prove how (almost)worthless the paper I get in return,is worth.


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## joem (Sep 29, 2010)

I want to open the Mcd's where they pay me in gold


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## GrailSeeker (Sep 29, 2010)

Someone could take advantage of the gold rise and invest the money somewhere as soon as he liquidates the quantity. He will win in the long run. But it's not worth keeping the money from gold and simply spend it.


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## nickvc (Sep 29, 2010)

I think the demise of the Dollar and or any other major currency is never going to happen.
The developing world and the new aggressive economies like China and India are too heavily reliant on the west and the developed world for their markets for it to be allowed to occur.
China alone holds billions of Dollars and needs the US and Europe to keep spending for their economies to grow,if the Dollar collapsed who would they sell to? The rest of the world couldn't take up the slack.
Money made from gold silver bronze has been tried,the Roman Empire had the same problems we have,they issued supposedly silver coins that were just silver washed ,the gold content and weight of coins was reduced until confidence in their money became almost non existent.Most countries that issued gold and silver currencies had problems with clipping or filing of the coins and a shortage of the metals wasn't uncommon leading to bartering and the first token currency been issued by traders and companies.
The World is too small and the population too large for a return to real gold and silver currencies,by all means save precious metals,they are normally nicer to handle than notes, we can't go back if we do I for see starvation wars and annihilation on a global scale as those without those assets decide to take from those that have them but are weaker than
them.
Love them or hate them ,fiat currencies are here to stay ,the world can't operate without them and everyone in power knows this ,as to what their worth,you I and everybody else decides.


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## GrailSeeker (Sep 29, 2010)

I completely agree. There is also a very important factor that made these 'empires' powerful. Reliability. The ability to ensure the safety of products, services and/or ore wealth. This can only be feasible with strong armies or protection of such by proxy (see Switzerland). Fortunatelly or not, war and technology around it keeps the world go round.

An example. Greece during German occupation had an inflation which led someone to buy a loaf of bread for 1 million drachmas banknote :shock:


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## patnor1011 (Sep 29, 2010)

nickvc said:


> I think the demise of the Dollar and or any other major currency is never going to happen.
> The developing world and the new aggressive economies like China and India are too heavily reliant on the west and the developed world for their markets for it to be allowed to occur.
> China alone holds billions of Dollars and needs the US and Europe to keep spending for their economies to grow,if the Dollar collapsed who would they sell to? The rest of the world couldn't take up the slack.
> Money made from gold silver bronze has been tried,the Roman Empire had the same problems we have,they issued supposedly silver coins that were just silver washed ,the gold content and weight of coins was reduced until confidence in their money became almost non existent.Most countries that issued gold and silver currencies had problems with clipping or filing of the coins and a shortage of the metals wasn't uncommon leading to bartering and the first token currency been issued by traders and companies.
> ...



Well IMHO Dollar is bound to be abandoned. There was simply too much of them printed in last two years. Saddam started pushing his clients to pay for oil in Euro. There are few more countries talking loudly about new reserve currency completely new animal as there are too big shifts in value of any given major currency. Given state of near collapse of PIIGS* economies even Euro will not be spared big problems. There are simple too many countries in "developed" world with huge financial difficulties. See Hungary three years ago saved (or bankrupt postponed) by IMF.
* PIIGS is refference to Portugal, Ireland, Italy, Greece, Spain.


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## metatp (Sep 29, 2010)

In my opinion, once a currency get useless, it is just replaced with a new currency. People lost a lot of perceived wealth. The ones making the change and involved with the distribution of wealth take there portion to be wealthy. Look at the large spending bill with the US government right now. When you are dealing with 100s of billions of dollar being spent. 100s of millions end up in someones pocket. I also think the redistribution of wealth in US is not about helping the poor as much as it is to take from someone that has, keep some, and redistribute the rest. The more this is done, the richer they get and the more dependent are those who receive. Look at Venezuela right now.


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## philddreamer (Sep 29, 2010)

I just got back today from a gold panning trip to CA. & while down there heard gold was around $1300, I looked @ my wife & said, I told you! 2 months ago, when gold was about $1175, I was trying to convince her to invest some of our little money 'cause I felt gold would be around $1300 by oct & $1500 by december; just a gut feeling. And here we are, late sept...
By the way, we brought back 1 ounce of placer gold.


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## butcher (Oct 1, 2010)

Phil, wow an ounce nice trip, I heard rumurs US may be looking at using YEN? anybody hear anything about this? we are running up a bill with China.


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## philddreamer (Oct 1, 2010)

Thanks Butcher! 
My buddy Ken has an area that he's been working for more than 6 mos. & its paying. On my july trip I met him & he allowed me to dig in his area, so I made plans to return & he said: "I'm getting about 2 dwt a day, come on down". Well, I gave it another shot & it was a good one. This is all sluicing, can you imagine dredging!? :shock: We'll be trying a gravity dredge next time. I heard that dredging in Ca.could start again in Jan. I sure hope so.

Yens, huh? I haven't heard anything, but I did hear about a new world currency. We'll see.

Mic wrote: 
"How far can gold go? I've got $1000 US for anyone that can accurately answer that..." 

Is that by the end of this year? If so, I say $1500 give or take $10.


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## Mrslow55 (Oct 1, 2010)

Phil, got any pictures of the loot? 8) Let us know if dredging gets the nod in CA. come January. I have to say, that was pretty slick, pretty slick indeed, calling the day to name a price. Good luck with that. 8) 8) 
Rick


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## joem (Oct 1, 2010)

I think the price of gold will be $42.00 (yes forty two dollars) by nov 4th
according to this site it will

http://www.swoopo.ca/auction/329978.html?pid=10011814


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## nickvc (Oct 2, 2010)

butcher said:


> Phil, wow an ounce nice trip, I heard rumurs US may be looking at using YEN? anybody hear anything about this? we are running up a bill with China.


If it's the Yen that's the Japanese currency if you mean the Chinese currency its the Yuan I think...please correct if I'm wrong.


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## butcher (Oct 2, 2010)

Phil, I love seeing all that color in your pan,as I know you like that in your pan. thanks for sharing. 

Nick I like gold better than paper money but if we got to use paper money I want to keep Ben Franklin and other American hero's on our bills, I am not sure of Chinese money and be darned if I want to use it, I just heard rumors of US going to Chinese currency, and wondered if others have heard this nonsense?


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## Mrslow55 (Oct 2, 2010)

Thanks Phil for the pics. . . .. :mrgreen: :mrgreen: :mrgreen: :mrgreen: 
8) Rick


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## Chumbawamba (Oct 3, 2010)

nickvc said:


> I think the demise of the Dollar and or any other major currency is never going to happen.
> The developing world and the new aggressive economies like China and India are too heavily reliant on the west and the developed world for their markets for it to be allowed to occur.
> China alone holds billions of Dollars and needs the US and Europe to keep spending for their economies to grow,if the Dollar collapsed who would they sell to? The rest of the world couldn't take up the slack.
> Money made from gold silver bronze has been tried,the Roman Empire had the same problems we have,they issued supposedly silver coins that were just silver washed ,the gold content and weight of coins was reduced until confidence in their money became almost non existent.Most countries that issued gold and silver currencies had problems with clipping or filing of the coins and a shortage of the metals wasn't uncommon leading to bartering and the first token currency been issued by traders and companies.
> ...



Nick,

This is jumbled on ignorant on so many levels that I don't know where to begin.

First of all, China and India don't need the West. It's actually the other way around. Without their cheap manufacturing we'd all be living sorely lacking lifestyles right now. On the other hand, without their cheap manufacturing the West would resume manufacturing on a large scale once again, bringing back a natural balance and harmony to the world.

Building wealth means making things. Countries that don't manufacture anything are consumers. Consumers are debtors. Debtors are slaves.

The West is not needed for our markets. Especially the polluted, corrupted, thieving dens of sin and iniquity that pass for markets in the West these days. Wealth and power is moving to Asia, primarily China. Learn how to speak Mandarin so you can teach your children so they'll know how to communicate with their future bosses.

Debasement happens to all money, fiat or real. The advantage to real money (i.e. money made from precious metals) is that you can generally tell when it's been debased. On the other hand, pull out a Federal Reserve Note (they aren't "dollars", which are defined in the US Constitution) and tell me: has it been debased? The answer is always YES, being a debt-based fiat currency, and the debasement is constant (98% since the FRNs inception in 1913) but you can't tell by looking at it. After all, it only represents money, nothing more.

Roman coins were debased because the emperors found it easier to simply debase the currency (issue coins with less and less silver) by inflating it to pay for the increased costs of their failed leadership. Debasement happens for one reason and one reason only: thievery. If the government controls the currency then you bet they will debase it, especially if it's fiat. If the market governs the currency then you will still have thieves who will debase the coinage but you will then decide whether or not you want to take that money in exchange for your goods.

There is certainly enough gold and silver in the world to currently act as money. You simply value what we have at high levels, so that instead of 1ozt being the standard unit of silver coinage you use, say, 1g. Or you use smaller amounts but alloyed with base metals like copper, zinc, etc. The whole point of money as a store of value is that it actually stores value in terms of the metals it's made of and doesn't rely on the backing of a government to declare value.

Finally, fiat currencies are not only not here to stay, they are gone, if not for good than for a damn good long time. The experiment in unbacked fiat currencies that began in the early 20th century has predictably ended in utter failure, as is about to become very clear to the world as the US dollar collapses into oblivion.


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## Harold_V (Oct 4, 2010)

This thread has turned way too policitical, so it has been locked. Please get back to talking about recovering and refining precious metals. 

Harold


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