The gold story - essentially - is that the rising economic powers of Asia,
the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

These new players account for almost all the accumulation of foreign
currency reserves worldwide over the last five years, so what they do
matters enormously.

Mr Jen said China alone accumulated $150bn in reserves in the third quarter,
pushing the total to $2.3 trillion. These are colossal sums. China is
amassing almost as much each month as the United States ($63bn) has built up
in the entire history of the country. True, the US understates the value of
its gold, but you get the picture. Something big is going on.

So far, China has just 1.7pc of its reserves in gold, or 34m troy ounces. I
was told by a top Chinese official that they are buying on the dips so as
not to crowd out the market, which means of course that gold cannot "crash"
unless you think China itself is going to crash - or stop building reserves
(which is possible: Albert Edwards from SocGen says China may be in current
account deficit next year, leading to a yuan move - down, not up).

Best Regards

Tom.

"azotic" wrote in message
...
The gold story - essentially - is that the rising economic powers of Asia,
the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

These new players account for almost all the accumulation of foreign
currency reserves worldwide over the last five years, so what they do
matters enormously.

Mr Jen said China alone accumulated $150bn in reserves in the third
quarter, pushing the total to $2.3 trillion. These are colossal sums.
China is amassing almost as much each month as the United States ($63bn)
has built up in the entire history of the country. True, the US
understates the value of its gold, but you get the picture. Something big
is going on.

So far, China has just 1.7pc of its reserves in gold, or 34m troy ounces.
I was told by a top Chinese official that they are buying on the dips so
as not to crowd out the market, which means of course that gold cannot
"crash" unless you think China itself is going to crash - or stop building
reserves (which is possible: Albert Edwards from SocGen says China may be
in current account deficit next year, leading to a yuan move - down, not
up).

Best Regards

Tom.


http://blogs.telegraph.co.uk/finance...ization-shift/

azotic wrote:
The gold story - essentially - is that the rising economic powers of Asia,
the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?


Just touching $1200 an ounce today!

"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?


Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Best Regards
Tom.

azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

"cavelamb" wrote in message
...
azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western
fiat currencies. China, India, and Russia have all been buying gold on
a large scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!


Its the worlds longest running poker game, right now
nobody is gonna go all in just bluff big time.
Bunky Hunt went all in back in the 70's with silver
and has not been seen since. You only play if you
can raise taxes to cover your losses.

Belgian chocolates work way better than MREs or ammo.
Charmin is essential if you wanna keep them.

Best Regards
Tom.

"azotic" wrote in message
...

"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a
large scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?


Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Heh!
I wonder who that might be?

Harold

On Mon, 30 Nov 2009 01:29:32 -0600, cavelamb
wrote:

azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!


But with Gold..you can purchase enough ammo and buttwipe to keep
everyone at bay..or happy..or both.

And if you had bought gold 5 yrs ago...you just made about 400% in
profit.

Not bad..not bad at all.

Damned shame that I..the son of a jeweler..sold all my gold years ago.

Damnit.

But..the kid needed that kidney removed and there wasnt any other
option.

Shrug

Gunner

"Aren't cats Libertarian? They just want to be left alone.
I think our dog is a Democrat, as he is always looking for a handout"
Unknown Usnet Poster

Heh, heh, I'm pretty sure my dog is a liberal - he has no balls.
Keyton

On Mon, 30 Nov 2009 00:44:57 -0800, "azotic" wrote:


"cavelamb" wrote in message
...
azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western
fiat currencies. China, India, and Russia have all been buying gold on
a large scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!

Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!


Its the worlds longest running poker game, right now
nobody is gonna go all in just bluff big time.
Bunky Hunt went all in back in the 70's with silver
and has not been seen since. You only play if you
can raise taxes to cover your losses.

Belgian chocolates work way better than MREs or ammo.

That would depend on the lady..and whats going on outside the front
door.....

Charmin is essential if you wanna keep them.

See above.

Best Regards
Tom.


"Aren't cats Libertarian? They just want to be left alone.
I think our dog is a Democrat, as he is always looking for a handout"
Unknown Usnet Poster

Heh, heh, I'm pretty sure my dog is a liberal - he has no balls.
Keyton

Buy chocolate. Solves all those problems.

--
Christopher A. Young
Learn more about Jesus
www.lds.org
..


"cavelamb" wrote in message
...

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

On 2009-11-30, cavelamb wrote:
I still think it's a fools game.

I think so too. Rising gold may make gold bugs smart for a while, but
I personally will not join the fray.

i

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

On Mon, 30 Nov 2009 08:00:14 -0600, Ignoramus2298
wrote:

On 2009-11-30, cavelamb wrote:
I still think it's a fools game.

I think so too. Rising gold may make gold bugs smart for a while, but
I personally will not join the fray.

i

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

===============
Owning some gold is like a fire sprinkler system. We hope it is
never needed but it is the prudent thing to do.

Much of the recent run up in the price of gold does not appear to
indicate any increase in the "value" of gold, but rather a steep
fall in the "value" of the fiat currency used to purchase it.
http://www.telegraph.co.uk/finance/p...-an-ounce.html
http://www.telegraph.co.uk/finance/c...-weakness.html
http://www.telegraph.co.uk/finance/n...-runs-out.html


There are at least two reasons for US citizens to own gold.

(1) Speculation -- you think the price of gold is going up and
you will be able to quickly resell at a profit; and

(2) Asset protection where you think the value of fiat paper
money will drastically drop and you wish to protect at least some
of the value of your assets. FWIW -- the Chinese used to call
this "coffin money" in that it at least insured a decent burial
at the end of life.

Remember that almost all the U.S. currency currently in
circulation is *NOT* issued by the U.S. government, but by a
quasi-private, highly secretive organization called the Federal
Reserve with absolutely no backing of any kind (other than "in
god we trust").

Central bank actions worldwide appear to indicate the
implementation of a scheme to inflate the current debt overhang
away though currency devaluation. This is not to say there is
some international plot, just that inflation/devaluation is the
traditional governmental response to "debt troubles," and goes
back to at least Roman times when the Emperors removed the gold
and silver from the coins. A major exacerbating factor is the
international inflation spiral resulting from the attempt by
nation after nation to gain a competitive export advantage by
devaluing their currency internationally to reduce their export
prices.

Note that there are two types of inflation: (1) internal, where a
given quantity of currency buys less within the issuing country;
and (2) International, where the relative prices of exported
goods and services become cheaper because of the exchange rate.

During the depression, U.S. citizens/residents were required to
surrender their "monetary" gold to the U.S. government.(Executive
Order 6102)
http://en.wikipedia.org/wiki/Executive_Order_6102

== Now for a question to the group==

*WHEN* not *IF* an Executive [presidential] Order is issued or a
law enacted, possibly under "public domain," mandating the sale
of "monetary" gold and/or silver to the U.S. government, how many
will comply this time?

Gunner Asch wrote:
On Mon, 30 Nov 2009 01:29:32 -0600, cavelamb
wrote:

azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!
Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!


But with Gold..you can purchase enough ammo and buttwipe to keep
everyone at bay..or happy..or both.


Only if someone is willing to take it in trade, as you well know.

And if it come to what you've been prediction/dreaming of/hoping for?
the exchange rate may be a little off the closing market price.

Remember the protagonist in _Lucifer's Hammer_?

He bought a blazer to escape to his observatory in the mountains
(for one million dollars!) and paid that off with one milk bearing cow...

F. George McDuffee wrote:
On Mon, 30 Nov 2009 08:00:14 -0600, Ignoramus2298
wrote:

On 2009-11-30, cavelamb wrote:
I still think it's a fools game.
I think so too. Rising gold may make gold bugs smart for a while, but
I personally will not join the fray.

i

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

===============
Owning some gold is like a fire sprinkler system. We hope it is
never needed but it is the prudent thing to do.

Much of the recent run up in the price of gold does not appear to
indicate any increase in the "value" of gold, but rather a steep
fall in the "value" of the fiat currency used to purchase it.
http://www.telegraph.co.uk/finance/p...-an-ounce.html
http://www.telegraph.co.uk/finance/c...-weakness.html
http://www.telegraph.co.uk/finance/n...-runs-out.html


There are at least two reasons for US citizens to own gold.

(1) Speculation -- you think the price of gold is going up and
you will be able to quickly resell at a profit; and

(2) Asset protection where you think the value of fiat paper
money will drastically drop and you wish to protect at least some
of the value of your assets. FWIW -- the Chinese used to call
this "coffin money" in that it at least insured a decent burial
at the end of life.

Remember that almost all the U.S. currency currently in
circulation is *NOT* issued by the U.S. government, but by a
quasi-private, highly secretive organization called the Federal
Reserve with absolutely no backing of any kind (other than "in
god we trust").

Central bank actions worldwide appear to indicate the
implementation of a scheme to inflate the current debt overhang
away though currency devaluation. This is not to say there is
some international plot, just that inflation/devaluation is the
traditional governmental response to "debt troubles," and goes
back to at least Roman times when the Emperors removed the gold
and silver from the coins. A major exacerbating factor is the
international inflation spiral resulting from the attempt by
nation after nation to gain a competitive export advantage by
devaluing their currency internationally to reduce their export
prices.

Note that there are two types of inflation: (1) internal, where a
given quantity of currency buys less within the issuing country;
and (2) International, where the relative prices of exported
goods and services become cheaper because of the exchange rate.

During the depression, U.S. citizens/residents were required to
surrender their "monetary" gold to the U.S. government.(Executive
Order 6102)
http://en.wikipedia.org/wiki/Executive_Order_6102

== Now for a question to the group==

*WHEN* not *IF* an Executive [presidential] Order is issued or a
law enacted, possibly under "public domain," mandating the sale
of "monetary" gold and/or silver to the U.S. government, how many
will comply this time?



I dunno, George. About the root cause, I mean.
(but not disagreeing with what you described)

I've been watching these two things...
Price of Gold verses price of oil.

http://www.kitco.com/images/live/gold.gif
http://www.wtrg.com/daily/oilandgasspot.html

Gold is skyrocketing, but crude has sort of stabilized.

If this were just internal inflation, wouldn't ALL commodities
be on the rise as fast as gold?

To me it looks like rich-guy-panic syndrome.
Gold has always been the traditional hedge against inflation.
So that's what they buy when things get tight.

But it looks like a set-up... a big gold bubble...
and it's going to pop at some point.

I suspect that will happen the same as all the other bubbles -
when the buyers suddenly realize they have more dollars invested
in it than it's really worth and have to sell at a loss.
(Under Executive Order ???)

But as long as people think it's worth the price (ANY price?)
it will keep on inflating...

Interesting times, huh?

cavelamb wrote:
F. George McDuffee wrote:
On Mon, 30 Nov 2009 08:00:14 -0600, Ignoramus2298
wrote:

On 2009-11-30, cavelamb wrote:
I still think it's a fools game.
I think so too. Rising gold may make gold bugs smart for a while, but
I personally will not join the fray.

i

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!

===============
Owning some gold is like a fire sprinkler system. We hope it is
never needed but it is the prudent thing to do.

Much of the recent run up in the price of gold does not appear to
indicate any increase in the "value" of gold, but rather a steep
fall in the "value" of the fiat currency used to purchase it.
http://www.telegraph.co.uk/finance/p...-an-ounce.html

http://www.telegraph.co.uk/finance/c...-weakness.html

http://www.telegraph.co.uk/finance/n...-runs-out.html



There are at least two reasons for US citizens to own gold.

(1) Speculation -- you think the price of gold is going up and
you will be able to quickly resell at a profit; and

(2) Asset protection where you think the value of fiat paper
money will drastically drop and you wish to protect at least some
of the value of your assets. FWIW -- the Chinese used to call
this "coffin money" in that it at least insured a decent burial
at the end of life.

Remember that almost all the U.S. currency currently in
circulation is *NOT* issued by the U.S. government, but by a
quasi-private, highly secretive organization called the Federal
Reserve with absolutely no backing of any kind (other than "in
god we trust").

Central bank actions worldwide appear to indicate the
implementation of a scheme to inflate the current debt overhang
away though currency devaluation. This is not to say there is
some international plot, just that inflation/devaluation is the
traditional governmental response to "debt troubles," and goes
back to at least Roman times when the Emperors removed the gold
and silver from the coins. A major exacerbating factor is the
international inflation spiral resulting from the attempt by
nation after nation to gain a competitive export advantage by
devaluing their currency internationally to reduce their export
prices.

Note that there are two types of inflation: (1) internal, where a
given quantity of currency buys less within the issuing country;
and (2) International, where the relative prices of exported
goods and services become cheaper because of the exchange rate.

During the depression, U.S. citizens/residents were required to
surrender their "monetary" gold to the U.S. government.(Executive
Order 6102)
http://en.wikipedia.org/wiki/Executive_Order_6102

== Now for a question to the group==
*WHEN* not *IF* an Executive [presidential] Order is issued or a
law enacted, possibly under "public domain," mandating the sale
of "monetary" gold and/or silver to the U.S. government, how many
will comply this time?



I dunno, George. About the root cause, I mean.
(but not disagreeing with what you described)

I've been watching these two things...
Price of Gold verses price of oil.

http://www.kitco.com/images/live/gold.gif
http://www.wtrg.com/daily/oilandgasspot.html

Gold is skyrocketing, but crude has sort of stabilized.

If this were just internal inflation, wouldn't ALL commodities
be on the rise as fast as gold?

To me it looks like rich-guy-panic syndrome.
Gold has always been the traditional hedge against inflation.
So that's what they buy when things get tight.

But it looks like a set-up... a big gold bubble...
and it's going to pop at some point.

I suspect that will happen the same as all the other bubbles -
when the buyers suddenly realize they have more dollars invested
in it than it's really worth and have to sell at a loss.
(Under Executive Order ???)

But as long as people think it's worth the price (ANY price?)
it will keep on inflating...

Interesting times, huh?

I agree, looks like a bubble.
I look for the U.S. economy to rebound and gold to drop again, hopefully
before Gunner's prophesied apocalypse

When it gets back under $1000/oz I'll likely buy in.

George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i

"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i

And the thing that worries me about gold is the possibility that some day,
when things are really rough, people are going hungry and reality sets in,
they may start looking at their piles of gold and realize that not only
can't they eat them, but that it's really a crummy, soft, and heavy metal
that isn't good for anything except bullets and sash weights, unless the
economy is perking along. A little reality would really knock the hell out
of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get in
on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress

On 2009-11-30, Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

And the thing that worries me about gold is the possibility that
some day, when things are really rough, people are going hungry and
reality sets in, they may start looking at their piles of gold and
realize that not only can't they eat them, but that it's really a
crummy, soft, and heavy metal that isn't good for anything except
bullets and sash weights, unless the economy is perking along. A
little reality would really knock the hell out of the market.

They may also realize this when things are not really rough.

A lot of people who are buying gold are in for a sleighride, as
always happens. Like any speculative commodity, it only looks good
when you get in on the way up and get out before it goes down.

When it goes down, I will buy some gold bars just for their looks.

I really enjoyed having those 100 oz silver bars.

i

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

On Nov 30, 4:57*pm, "Ed Huntress" wrote:

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Ed Huntress

Spam lasts "indefinitely", though the "flavor gradually declines".
http://www.hormelfoods.com/faqs.aspx#can4

IOW it's fine until crushed by the next Ice Age.

cavelamb wrote:

Remember the protagonist in _Lucifer's Hammer_?

He bought a blazer to escape to his observatory in the mountains
(for one million dollars!) and paid that off with one milk bearing cow...


It may be time to re-read that book. Was it Pournell or Niven?

Wes
--
"Additionally as a security officer, I carry a gun to protect
government officials but my life isn't worth protecting at home
in their eyes." Dick Anthony Heller

"Jim Wilkins" wrote in message
...
On Nov 30, 4:57 pm, "Ed Huntress" wrote:

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Ed Huntress

Spam lasts "indefinitely", though the "flavor gradually declines".
http://www.hormelfoods.com/faqs.aspx#can4

IOW it's fine until crushed by the next Ice Age.

But is there a commodity exchange for Spam? d8-)

Ed Huntress

"Ed Huntress" wrote in message
...

And the thing that worries me about gold is the possibility that some day,
when things are really rough, people are going hungry and reality sets in,
they may start looking at their piles of gold and realize that not only
can't they eat them, but that it's really a crummy, soft, and heavy metal
that isn't good for anything except bullets and sash weights, unless the
economy is perking along. A little reality would really knock the hell out
of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get
in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress

But when the **** hits the fan gold maybe the one of the few commodities
that will get you some corn or soy beans and you get to cook them using
all your script for the heat source.G

Best Regards
Tom.

On Nov 30, 6:50*pm, "Ed Huntress" wrote:
"Jim Wilkins" wrote in message
...
But is there a commodity exchange for Spam? d8-)

Ed Huntress

http://www.tkfutures.com/pork_bellies.htm

Thre will be one on every street corner when it becomes currency.

"azotic" wrote in message
...

"Ed Huntress" wrote in message
...

And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash weights,
unless the economy is perking along. A little reality would really knock
the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get
in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress

But when the **** hits the fan gold maybe the one of the few commodities
that will get you some corn or soy beans and you get to cook them using
all your script for the heat source.G

Best Regards
Tom.

Maybe. But there's always a chance that the human race will wise up and
realize it's just about useless for almost anything that matters at that
point. d8-)

--
Ed Huntress

"Jim Wilkins" wrote in message
...
On Nov 30, 6:50 pm, "Ed Huntress" wrote:
"Jim Wilkins" wrote in message
...
But is there a commodity exchange for Spam? d8-)

Ed Huntress

http://www.tkfutures.com/pork_bellies.htm

Thre will be one on every street corner when it becomes currency.

At least you don't have to freeze it, eh?

--
Ed Huntress

Wes wrote:
cavelamb wrote:

Remember the protagonist in _Lucifer's Hammer_?

He bought a blazer to escape to his observatory in the mountains
(for one million dollars!) and paid that off with one milk bearing cow...


It may be time to re-read that book. Was it Pournell or Niven?


Both

Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i

And the thing that worries me about gold is the possibility that some day,
when things are really rough, people are going hungry and reality sets in,
they may start looking at their piles of gold and realize that not only
can't they eat them, but that it's really a crummy, soft, and heavy metal
that isn't good for anything except bullets and sash weights, unless the
economy is perking along. A little reality would really knock the hell out
of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get in
on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)


Gold would make excellent sailboat ballast!

Ed Huntress wrote:
"Jim Wilkins" wrote in message
...
On Nov 30, 4:57 pm, "Ed Huntress" wrote:
Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Ed Huntress

Spam lasts "indefinitely", though the "flavor gradually declines".
http://www.hormelfoods.com/faqs.aspx#can4

IOW it's fine until crushed by the next Ice Age.

But is there a commodity exchange for Spam? d8-)

Ed Huntress



Dorothy bought a can (for the boat) and was going to try it

but

it said "contains mechanically separated chicken", which grossed her out (girls!)
and the texture.

So we have a case of canned chicken chunks (all white mean) instead.

Ed Huntress wrote:
"azotic" wrote in message
...
"Ed Huntress" wrote in message
...
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash weights,
unless the economy is perking along. A little reality would really knock
the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get
in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress
But when the **** hits the fan gold maybe the one of the few commodities
that will get you some corn or soy beans and you get to cook them using
all your script for the heat source.G

Best Regards
Tom.

Maybe. But there's always a chance that the human race will wise up and
realize it's just about useless for almost anything that matters at that
point. d8-)


Ding!

We have a winner - and it's Ed (again).

If we let the lights go out, NOTHING is going to matter.

Game it out, Ed.

How far back would er fall?

National anarchy?
Return to sovereign states?
Return to rural subsistence?
Nomadic hunter gatherers?

Or would rampant diseases knock us back to the stone age?

"cavelamb" wrote in message
...
Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i

And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash weights,
unless the economy is perking along. A little reality would really knock
the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get
in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)


Gold would make excellent sailboat ballast!

Yes it would! And that would be one of the most useful things one could do
with it. 'Time to stock up! g

--
Ed Huntress

"cavelamb" wrote in message
...
Ed Huntress wrote:
"Jim Wilkins" wrote in message
...
On Nov 30, 4:57 pm, "Ed Huntress" wrote:
Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Ed Huntress

Spam lasts "indefinitely", though the "flavor gradually declines".
http://www.hormelfoods.com/faqs.aspx#can4

IOW it's fine until crushed by the next Ice Age.

But is there a commodity exchange for Spam? d8-)

Ed Huntress

Dorothy bought a can (for the boat) and was going to try it

but

it said "contains mechanically separated chicken", which grossed her out
(girls!)
and the texture.

So we have a case of canned chicken chunks (all white mean) instead.

Seriously, Spam makes pretty good chum for blackfish (tautog).
Unfortunately, you don't have any blackfish down there.

How about cat bait?

--
Ed Huntress

Ed Huntress wrote:
"cavelamb" wrote in message
...
Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash weights,
unless the economy is perking along. A little reality would really knock
the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you get
in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Gold would make excellent sailboat ballast!

Yes it would! And that would be one of the most useful things one could do
with it. 'Time to stock up! g


1700 pounds please!

cavelamb wrote:

Dorothy bought a can (for the boat) and was going to try it

but

it said "contains mechanically separated chicken", which grossed her out (girls!)
and the texture.

So we have a case of canned chicken chunks (all white mean) instead.


Made from tough old birds? ;-)


--
The movie 'Deliverance' isn't a documentary!

"cavelamb" wrote in message
m...
Ed Huntress wrote:
"azotic" wrote in message
...
"Ed Huntress" wrote in message
...
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash
weights, unless the economy is perking along. A little reality would
really knock the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you
get in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress
But when the **** hits the fan gold maybe the one of the few commodities
that will get you some corn or soy beans and you get to cook them using
all your script for the heat source.G

Best Regards
Tom.

Maybe. But there's always a chance that the human race will wise up and
realize it's just about useless for almost anything that matters at that
point. d8-)


Ding!

We have a winner - and it's Ed (again).

If we let the lights go out, NOTHING is going to matter.

Game it out, Ed.

How far back would er fall?

National anarchy?
Return to sovereign states?
Return to rural subsistence?
Nomadic hunter gatherers?

Or would rampant diseases knock us back to the stone age?

My best guess, and I mean this seriously, is that we'll revert to mowing our
own lawns and to buying our Halloween candy at Wal-Mart.

Otherwise, we might stop buying Mobil 1 and get back to basics with
Pennzoil.

Seriously.

--
Ed Huntress

"cavelamb" wrote in message
...
Ed Huntress wrote:
"cavelamb" wrote in message
...
Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash
weights, unless the economy is perking along. A little reality would
really knock the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you
get in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Gold would make excellent sailboat ballast!

Yes it would! And that would be one of the most useful things one could
do with it. 'Time to stock up! g


1700 pounds please!

You could make some Swiss bankers very happy. They'd all buy new shoes for
their kids at Christmas.

--
Ed Huntress

Michael A. Terrell wrote:
cavelamb wrote:
Dorothy bought a can (for the boat) and was going to try it

but

it said "contains mechanically separated chicken", which grossed her out (girls!)
and the texture.

So we have a case of canned chicken chunks (all white mean) instead.


Made from tough old birds? ;-)




Oh my.. Just washed my hands and can't do a thing with them...

Ed Huntress wrote:
"cavelamb" wrote in message
m...
Ed Huntress wrote:
"azotic" wrote in message
...
"Ed Huntress" wrote in message
...
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash
weights, unless the economy is perking along. A little reality would
really knock the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you
get in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

--
Ed Huntress
But when the **** hits the fan gold maybe the one of the few commodities
that will get you some corn or soy beans and you get to cook them using
all your script for the heat source.G

Best Regards
Tom.
Maybe. But there's always a chance that the human race will wise up and
realize it's just about useless for almost anything that matters at that
point. d8-)

Ding!

We have a winner - and it's Ed (again).

If we let the lights go out, NOTHING is going to matter.

Game it out, Ed.

How far back would er fall?

National anarchy?
Return to sovereign states?
Return to rural subsistence?
Nomadic hunter gatherers?

Or would rampant diseases knock us back to the stone age?

My best guess, and I mean this seriously, is that we'll revert to mowing our
own lawns and to buying our Halloween candy at Wal-Mart.

Otherwise, we might stop buying Mobil 1 and get back to basics with
Pennzoil.

Seriously.


Ed!
You are an optomist!
I never suspected.

Good attitude, too.
I'll hold you to it.

Richard

Ed Huntress wrote:
"cavelamb" wrote in message
...
Ed Huntress wrote:
"cavelamb" wrote in message
...
Ed Huntress wrote:
"Ignoramus2298" wrote in message
...
George, I think that there are income producing assets that should
retain much of their value regardless of devaluation of currency.

Ergo, if I own a piece of a toll bridge, and get dividends every
quarter, I would not be too hurt if the currency devaluates. The toll
bridge would still be able to extract some sizable amount from those
passing it.

i
And the thing that worries me about gold is the possibility that some
day, when things are really rough, people are going hungry and reality
sets in, they may start looking at their piles of gold and realize that
not only can't they eat them, but that it's really a crummy, soft, and
heavy metal that isn't good for anything except bullets and sash
weights, unless the economy is perking along. A little reality would
really knock the hell out of the market.

A lot of people who are buying gold are in for a sleighride, as always
happens. Like any speculative commodity, it only looks good when you
get in on the way up and get out before it goes down.

Now, corn or soy beans...at least you could eat them in a pinch. d8-)

Gold would make excellent sailboat ballast!
Yes it would! And that would be one of the most useful things one could
do with it. 'Time to stock up! g

1700 pounds please!

You could make some Swiss bankers very happy. They'd all buy new shoes for
their kids at Christmas.


Are you implying that there is not that much in Fort Knox?

On Mon, 30 Nov 2009 13:44:32 -0600, cavelamb
wrote:

Gunner Asch wrote:
On Mon, 30 Nov 2009 01:29:32 -0600, cavelamb
wrote:

azotic wrote:
"cavelamb" wrote in message
...
azotic wrote:
The gold story - essentially - is that the rising economic powers of
Asia, the Middle East, and the commodity bloc are rejecting Western fiat
currencies. China, India, and Russia have all been buying gold on a large
scale over recent months.
Why should that stop when the AAA club of sovereign debtors is pushing
towards the danger threshold of 100pc of GDP?

Just touching $1200 an ounce today!
Seems some people would rather own gold instead of script.

Best Regards
Tom.



I still think it's a fools game.

You can't eat gold (or script).

But ammo and MREs aren't going to keep the ladies happy.
Better lay in a 12 year supply of Charmin too!


But with Gold..you can purchase enough ammo and buttwipe to keep
everyone at bay..or happy..or both.


Only if someone is willing to take it in trade, as you well know.

At $1200 an ounce...people are taking it in trade...trust me. G

And if it come to what you've been prediction/dreaming of/hoping for?
the exchange rate may be a little off the closing market price.

Certainly not " hoping for"..shrug...just accepting it. Ive had 5
previous "visions" and each time I took it seriously..and lived. Shrug

Its a family thing. Having "second sight" tends to run in the
family..mostly in the women..but the men do have them as well. Which is
why most of the men in the family die in their late 90s.

I still hope it was a fluke. But..Im proceeding like it was fact. I can
only die once...but be wrong many times. Id rather be wrong than dead.
Wouldnt you?


Remember the protagonist in _Lucifer's Hammer_?

He bought a blazer to escape to his observatory in the mountains
(for one million dollars!) and paid that off with one milk bearing cow...


Indeed.

Gunner

"Aren't cats Libertarian? They just want to be left alone.
I think our dog is a Democrat, as he is always looking for a handout"
Unknown Usnet Poster

Heh, heh, I'm pretty sure my dog is a liberal - he has no balls.
Keyton

Ed Huntress wrote:
"cavelamb" wrote in message
Gold would make excellent sailboat ballast!
Yes it would! And that would be one of the most useful things one could
do with it. 'Time to stock up! g

1700 pounds please!

You could make some Swiss bankers very happy. They'd all buy new shoes for
their kids at Christmas.


1,179.36 current price per troy ounce. (At 01:43 Dec 01)

14.583 Troy ounces per pound

24791.1 Troy ounces in 1700 pounds

$29,237,631.70 US


I'm a little shy of that. Last count was 52.34 ounces.
More than half of which I picked up between 2000 and 2001. Average price
was 284.00 an ounce at that time.

It's showing a MUCH better return than many of my stocks !!!!

--
Steve W.