RE:RE:RE:RE:RE:Whats going on?usa had trillion dollar deficit before covid. ending covid does not fix that deficit. it was not wall street suits that told people gold was security for thousands of years.
lbma reported they have $500 billion in gold (probably much of that is already owned by others and not for sale). if you create $4 trillion dollars out of thin air, don't tell me that gold does not change in dollar value. then create $1 trillion dollar out of thin air every year, don't tell me gold priced in continually diluting dollars has a ceiling.
cyber37 wrote: I’m well aware that Au went over $2000/oz but also please not how quickly it came down. I believe it may spike over that ‘nothing magical level’ again but IMO gold has NO staying power over $2000/oz. US economy will not be in this Covit induced hibernation forever and following US election we may see industrial outputs coming to life – give a year or two. I don’t even think it matters much if Mr. Trump & his bunch of incompetent YES men get re-elected or Mr. Biden gets to run Capitol Hill. Personally, I would like to see Kamala Harris take the spot ….only because she sounds most intelligent to me & is definitely the best looking. But I don’t think US is ready for a female president….just ask Hillary.
I believe that de-basing paper money from gold was appropriate; unfortunately world economies failed to move forward and suffer from addiction to gold based on lack of faith in their own capabilities. I’m sure that the only reason Elon Musk bought gold is to use it in his Space-X racket since it is an excellent conductor….excellent reflector and it does not rust. I’m sure he does not have bars of gold under his bed as a security. I also think he is more interested in Lithium because of his electric cars rather than shinning objects.
Basically, I think we have too many Wall Street suits telling us what security is and not enough creative….innovative….say ‘industrial artists’ showing us what we can do.
G37