Member Info for goldgnome

Whenever fiat money systems enter their endgame and are about to collapse, gold comes back. It is the eternal form of money. Including estimate future costs for veteran’s care, the total budgetary costs and future obligations of the post-9/11 wars is estiimated to be about $8 trillion in current dollars. WFunding wars is one fo the chief requirements of the elastic money at the whims of ..no control..

As Greenspan once said (and he said it when he was already the head the world’s foremost paper money central bank): In extremis, nobody accepts paper money. Gold will always be accepted.

At its price of $500, $1,000... $1,720 (etc) an ounce was considered cheap. Much more fiat money will be created in coming months and years. You want to own something that is not simultaneously somebody else’s liability (such “money in the bank” on your deposit or savings account) and that cannot be created for political purposes at will and without limit, such as paper dollars.

Don’t trade gold, accumulate it.

https://fred.stlouisfed.org/series/CUUR0000SA0R

What a whopper. According to the latest monthly statement from the Treasury Department, the US government spent $668 billion in November, the second month of the 2025 fiscal year. That’s in addition to October’s spending total of $584 billion, for a total of $1.25 trillion in spending so far this year!!! But it gets worse: the federal government has only collected $628 billion in revenue for the same period, meaning the two-month total deficit is now as $624 billion...who cares?

That’s the largest total ever for the first two months of the fiscal year, higher even than the $429 billion spent during the first two months of the 2021 fiscal year—October and November 2020. It should not surprise us, then, that the federal government is now on track to have the LARGEST PEACETIME DEFICIT OF ALL TIME (Lets not worry about the US war (s?) in Gaza, Lebanon, Syria, Iran, and whatever they are doing in Ukraine and Russia to name a few peacetime activities) during the 2025 fiscal year. With the two-month total at over $620 billion, the year-end total is likely to be over $3.5 trillion by the end of the year. That would make the next annual deficit even larger than 2020’s budget busting deficit of 2020 when the covid panic fueled months of runaway spending!!!

Trump to the rescue ... form guide? The first Trump administration, rung up a 2019 deficit of nearly one trillion, making it the LARGEST DEFICIT ever seen during a period that was NEITHER recessionary nor wartime. Trump than signed off on the mega-deficit of 3.1 trillion during the 2020 fiscal year...but now we have mercurial Elon and his DOGE intiative ... They are gooing to cut what from where? Obviously defense? Social welfare? Health? I would believe in fairies ///

... good reason to expect this trend to continue, and the consumers and taxpayers will feel it, and the value opf paper promises will keep going the same way it has been going for decades.... Huge deficits will mean higher interest rates, and that will drive more bankruptcies as consumer and business debt becomes less and less manageable. Meanwhile, the Fed won’t be able to really rein in price inflation because that would require allowing interest rates to rise to a level that would be unsustainable in terms of federal debt service...what a bind,

The history of paper money is not a great one, more akin to continued failures...The first banknote was in China in the 7th century, during the Tang dynasty (618–907).... its not a pretty history which is why gold holds it allure ...

enjoy the cricket in Brisbane...drizzle, more drizzle and sizzle

the gnome

MrBond

Mere speculation or a bad dream on your part. All is sailing well.

Nice bit of work the US and Israel are doing. Sowing the seeds for conflict, uncertainty, terroism and sorts of shenankans for generations

the gnome

0354 ET – AngloGold Ashanti’s acquisition of British peer Centamin is a logical combination that offers net asset value and free-cash-flow accretion, RBC Capital Markets analysts write in a research note. The gold miner’s high free-cash-flow profile is a key differentiating feature into 2025, they say. They expect the company to release a new capital-return framework to underscore this, the analysts add. The global company acquired Centamin, and its 50% interest in the major Sukari mine, last month. On the back of this, RBC lifts its share rating to outperform from sector perform. (christian.moess@wsj.com)

Rule highlighted the worrying scale of U.S. debt, noting that the deficit has grown by $1 trillion since just a few months ago.

"In the decade of the 1970s, the last time we faced this circumstance, the purchasing power of the U.S. dollar was reduced by 75%. Not coincidentally, during that period, the gold price went from $35 an ounce to $850 an ounce. Yes, the two events were related," Rule said. "The only way that I understand that we get ourselves out of our debt crisis is to inflate away."

worth a read ... https://www.kitco.com/news/article/2024-12-02/golds-us-market-share-quadruple-what-happens-gold-price-when-happens-rick

the gnome

Mr Bond please, the CIA does not do that sort of thing. But we will get the FBI to look at it. just in case they break out again...LOL

Just an out of control comic strip.

"I wont pardon my son Biden" what a player! with his follies, weaknesses and genius for self-rationalizations that were laughable to anybody but himself (remember how corporations became greedy for the first time in 40 years and caused inflation?) will be remembered for one thing only, for better or worse: returning Donald Trump to the White House.

But he didn’t do it alone. The press covered up for him every step of the way... and lets not mention the polls which have managed to get it wrong every time?

and then we have the cease fires in Lebanon ... 4 Dec 2024

Israeli quadcopter drones have bombed Gaza’s Kamal Adwan Hospital, the fifth attack by Israel’s military on the medical facility in recent weeks.

Al Jazeera’s correspondent on the ground reports a “surge” in Israeli strikes on Gaza City where the al-Ahli hospital is struggling to deal with mass casualties.

What did they agree to cease again?...certainly common sense went out the window decades ago

The Oz govt has surpassed itself in the stupidity stakes. Now we have so-called off-budget “investments”, which also include the annual loss the government incurred from subsidising $81 billion of student loan debts, including HECS.

We also have $7.1 billion for Malcolm Turnbull’s troubled Snowy 2.0 pumped hydro project (no end in site), $7.2 billion for the Albanese government’s National Reconstruction Fund (this is after the present govt wrecked the country) to diversify industry, and $18.5 billion for Julia Gillard’s Clean Energy Finance Corporation (finances what no intelligent person would finance), which the Albanese government has turbocharged with extra funds to modernise the energy grid, a National Disability Insurance program ($44 b this fin year, targetting $89 b in 2031 when everyone will well and truly be disabled) which is trending to more disabled persons than able bodied, which is not really a concern says the govt?

Add on the $101 billion spent on off-budget items between 2013 and 2024 and successive federal governments are forecast to have spent almost $180 billion “off-budget” by 2028. So where does the revenue come from? tsk, detail, detail...

Good time to have a few bars of gold under the bed. Nice move in the Anglo share price ...in the right direction

the gnome

I would strongly suspect that Live from the Vault has a bias or 9.

A lot of it is verbal diareah.

Just focus on the fundamentals and the forces

Being on the NY SE is significant. The New Yorkers will one day soon stop chasing their favourite rainbows ...and return to fundamentals,..GOLD

the gnome

Well the good news for gold is there is even more disarray in the US Empire (which by the way, controls the world)

From CNN’s “Trump announces he intends to replace current FBI director with loyalist Kash Patel”: (EDGAR PLEASE !!)

Even among Trump loyalists, Patel is widely viewed as a controversial figure and relentless self-promoter whose value to the president-elect largely derives from a shared disdain for the so-called deep state… Patel rose to prominence within Trump’s orbit in 2018, when he served as an aide to Rep. Devin Nunes, the top Republican on the House Intelligence Committee… Patel played a key role in Nunes’ efforts to discredit the FBI’s Russia investigation into the Trump campaign, including a controversial classified memo that alleged FBI abuses of Foreign Intelligence Surveillance Act warrants on Trump advisers. (the russian influence was BS)

What’s a “loyalist”? How many presidents nominate “disloyalists” to fill senior positions? Why do sites like Axios continue to complain that Donald Trump has picked “yet another hardline MAGA ally” to occupy a key spot? Who the hell else is he supposed to pick?

After everything that’s taken place, it’s unsafe for Trump to do anything but bonfire the whole FBI leadership structure, including probably the entire National Security and Counterintelligence Divisions, for starters. Control over the FBI is the critical test of how real any coming changes will be. In the last eight-plus years, the Bureau went beyond the excesses of the J. Edgar Hoover era, attempting to install itself as a KGB-like domestic intelligence service with gatekeeping power over everything from the White House to the speech landscape. Forget Trump: we are not safe unless its bureaucracy is fully dismantled.

and so on...the FBI and CIA have been a little loose to be polite., or a little too focussed to be impolite.

Thanks Mat Tabibbi

https://www.rollingstone.com/author/matt-taibbi/

The dogs keep howling at the moon ...

best

the gnome

Good grief its not that bad. Go to the ANGLO board and I am sure the die hards or die slows will be there

Including me ....

the gold gnome

Sounds like a great idea Soloto

Northern Star CEO (lagrest Gold miner in Oz) “What a fantastic time to be in gold. And we are just getting started,” he said. “We saw a bit of a pullback [after Trump’s re-election], but a strengthening US economy affects the exchange rate. In Australian dollar terms, I see a strengthening of the gold price and sentiment, and it’s still at high levels.

“I don’t think we’re going to see much retraction in the next coming years in gold. There are a lot of tailwinds.”

NetanYAHOO doing his best to keep himself out of the courts in Israel

On 21 November 2019, Netanyahu was officially indicted for breach of trust, accepting bribes, and fraud, leading him to legally relinquish his ministry portfolios other than prime minister. Netanyahu's trial in the Jerusalem District Court began on 24 May 2020, with witness testimony starting on 5 April 2021.

, not to mention the ICC...LOL

And then we the DOGE to reduce the government workforce by 75%

and so on

cheers

Comex Gold Ends the Week 5.62% Higher at $2709.90

Front Month Comex Gold for November delivery gained $144.20 per troy ounce, or 5.62% to $2709.90 this week

—Largest one week percentage gain since the week ending March 17, 2023

—Snaps a three week losing streak

—Today it is up $37.80 or 1.41%

—Largest one day dollar and percentage gain since Monday, Nov. 18, 2024

—Up for five consecutive sessions

—Up $144.20 or 5.62% over the last five sessions

—Longest winning streak since Wednesday, Oct. 30, 2024, when the market rose for five straight sessions

—Highest settlement value since Tuesday, Nov. 5, 2024

—Off 2.82% from its 52-week high of $2788.50 hit Wednesday, Oct. 30, 2024

—Up 37.02% from its 52-week low of $1977.80 hit Tuesday, Dec. 12, 2023

—Rose 35.35% from 52 weeks ago

—Off 2.82% from its 2024 settlement high of $2788.50 hit Wednesday, Oct. 30, 2024

—Up 36.16% from its 2024 settlement low of $1990.30 hit Wednesday, Feb. 14, 2024

—Off 2.82% from its record high of $2788.50 hit Wednesday, Oct. 30, 2024

—Month-to-date it is down 1.04%

—Year-to-date it is up $647.50 or 31.40%

All prices are calculated based on the settlement price of the current front month contract.

PLENTY OF GAS IN GOLD,

The debt levels are huge and growing, loss of trust is massive, the US Military (why do they bother with elections) wants a war with China, Russia, North Korean, Iran, Iraq...this is after failures in Vietnam, Laos, Chile, Venzeuela (and so on)

What a preponderance of stupidity, makes the madmen blush

STUPIDITY? Stupidity may be defined as—

a lack of keenness of mind;

inanity or pointlessness;

an annoyance, irritation, or troublesome state;

a state of stupefaction.

More humorously, here are some definitions essayed by minds more creative and cleverer than mine—

Two things are infinite: the universe and human stupidity; and I’m not sure about the universe. (Einstein);

There is more stupidity than hydrogen in the universe, and it has a longer shelf life. (Frank Zappa);

Never underestimate the power of stupid people in large groups. (George Carlin);

Stupidity cannot be cured. (Robert Heinlein);

In politics, stupidity is not a handicap. (Napoleon); and

Stupidity is the same as evil if you judge by the results. (Margaret Atwood).

But my favourite is this from Ricky Gervais—

When you are dead, you do not know you are dead. It is only painful for others. The same applies when you are stupid.

When you are dead, you do not know you are dead. It is only painful for others. The same applies when you are stupid.

another day another bar of gold as they say ...

the Gnome

Don't write off gold, it remains 30% of my inv portfolio....US wages growing at about 4 per cent and Trump coming to power with a $US8 trillion ($12 trillion) policy platform.....go gold

Sad and confused and confusing world at the moment. $2.4 trillion spent in 2023 on global arms sales. over 3,000 children under 5 slaughtered in Palestine. https://www.bbc.com/news/articles/cn5wel11pgdo. Don't they ever learn, the process and the sustainable outcomes are strongly related. the lunatics have got a stronghold on the asylum.

Gold standard is the good investment for these times

The Future Fund in Oz sees gold as a bulwark against an increasing risk of conflict and inflation. Hard not to be a gold bull, in part because central banks are shifting more of their reserves to the precious metal.

“I think we are in a long-term bull market in gold. I think we’re seeing reserve accumulation by central banks. I follow it closely. It’s my biggest position.”

The US dollar gold price has surged about 40 per cent to $US2700 an ounce in the last 12 months, but Citi and Goldman Sachs see it rising to $US3000 by June 2025.

All the best punters and investors. Good luck to us all. !!!

the Gold Gnome

I suspect BRICS probably dont care about Solomon and havent hear of Jim O'N and never will

Money and Might is a good listen ...

https://www.citigroup.com/global/insights/e13-money-and-might-financing-the-future-of-defense

https://www.vaneck.com.au/blog/international-investing/new-research-forecasts-elevated-global-defence-spending-for-years-ahead/

Draw your own conclusions, and look up your code of ethics

the gnome

The Brics development is a reversion to historical means, in many senses. I think it is a great move, and hope they learn from the mistakes of the "other system" The history of these "empires", the size of these makets was/is immense. India, China, Russia. I think the exorbitant provilege of the US (and UK) needs to be dismantled from the perspectives of balance, equality, stability, and getting a financial system that works far better than the one we have now.

here is to a better future?

Dare I state the obvious that reversion to a historical mean, means a reversion to gold?! Gotya

best

the gnome

Its quite possible the UK does nto have a coherent or sensible strategy?

The US certainly has, and has for a long while now, and good luck to them.

https://www.youtube.com/watch?v=w--Pv8edD6M

they print as much of their own currency as they like, and they blow enough hot wind into Wall Street, that insanity quite often prevails. They control most of the markets, and those they dont control ..>>> they declare war (hot or cold or both?!) on. You might ask, how did the world get into such a mess. Basically it was created from pre-existing messes!

Have a look at some of the eye watering p/e ratios on nasdaq https://www.marketscreener.com/top-records/valuation/PER/

I think it all started when his mother ignored him, ...

the symptoms that seem to be on display

Lack of empathy for others

Impulsive behavior and complusive betting

Attempting to control others with threats or aggression or other means which feel good

Using intelligence, charm, outright lies, poorly thought through bets or charisma to manipulate others

Not learning from mistakes or punishment (and not talking about them)

Lying about their investment successes or failures (generally not mentioned?) for personal gain

Trouble with responsibilities such as a job, paying bills, washing the dishes and sweeping the floor

We are here for a good time and bit of give and take?

the gnome

Priceless. The BRICS is dead...?

RECAP the BRICS is a trade alliance of the following non-Western countries:

Brazil

Russia

India

China

South Africa

The BRICS accounts for 33% of the world’s GDP, whereas the G7 accounts for 29%.[1] Soon the BRICS will be expanded to include Saudi Arabia, Iran, and other countries....other countries may include, Maylasia, Thailand, Vietnam, Phillipines etc ..... over 3.3+ billion people are dead ...

Given the US propensity to provide bombs which ...

The social license of the Bankers, financiers, Governments, war machines/manufactues (etc) which condone or in some way support the goings on in Gaza, Israel, Lebanon....has been offically withdrawn by Kamala...

Anyone reasonably intelligent person will know how this is going to end...

by the way...go gold. ... and lets have a decent financial structure and system ...

the gnome

Global monetary reset coming, gold to get revalued to $150k, is BRICS summit the trigger? Andy Schectman

A global financial reset is coming (yes another one), and under a new system (yes another one), gold could get revalued to up to $150,000 an ounce (thats a new one !!!), said Andy Schectman, President and Owner of Miles Franklin Precious Metals, adding that this week's BRICS annual summit could be a potential trigger.

Schectman said that one inevitable outcome of the accelerating de-dollarization trend is a new one-world system in which a hard asset like gold will get revalued.

"The system, as we know, is going to change, and the people pulling the strings are the most powerful in the world," he said. "A one-world system. Maybe everything is transacted over a CBDC [central bank digital currency] network."

There you go , My money is now on Anglo, good luck to us all !!!

best wishes

the gold gnome

I have about 1,000,000 and it is a lets go (YES) vote. There are so many advantages to having optionality as offered by the takeover , be it geographical, or whatever

Obviously it is light on, or it would not be made, !!

The present board have voted against themselves and I am good with that... time to move, they have been ordinary at best