Member Info for speedymeadie

Hi Monty. You asked "did the gold standard deliver that" referring to wealth preservation. Gold has done exactly that over millennia. Its is only when the powers that be start dicking around with the standard that things go wrong, from dilution in Roman times to snipping away at the edge of coins. Every time the gold standard has been removed throughout history and a gov issued currency is introduced it always without exception fails.
Huge upheavals are on the way and gold will not insulate you from effect but it will make it slightly more comfortable.
I think it is time to say i respect your views and leave this debate so as not to clog up the board, i have thoroughly enjoyed the discussion. ATB Speedy

Hi Monty. Follow me, if you are able. I hold physical gold. Since the 1970s it has served me very well. I hold gold and sold some to buy GGP stock. The gold i used had increased in purchasing power as opposed to the £. There were no Tesco vouchers or queens hurt in that transaction. Gold used as a currency worked for me better than fiat.
I could go on about the benefits of a sound money system but i do not think you would be pursuaded. ATB Speedy

Hi JSP. Your last sentence sums it all up. Tell nothing let them buy a program. ATB Speedy

Hi Bancal. You are correct. My mistake was dividing 550% X 23years =24. Even an 8.48%/yr is a reasonable return, but not so good with the present level of inflation. ATB Speedy

Hi Peter. Since 2000 gold has seen a 550% rise, that is a yearly increase of 25%. Not bad for an asset that is suffering at the hands of the big boys. Buying gold is a long term strategy and should be adopted at an early age. ATB Speedy

Hi Joubert. Many thanks for your input. the most important statement in your post is "gold will not back a currency whilst things are the way they are". Well i have news for you, things do actually change. The debasement of fiat around the globe is reaching a critical level and i am convinced gold will play a big role in its replacement.
i am invested in GGP for the gold and see a great future for our co with a POG at $1850/oz then up to $2500/oz in the med term. If the POG does reach"silly figures" even better. One other point is the fact that we really are living in the "****iest world possible" and owning physical gold and the miners will help ease the pain. ATB Speedy

Hi Culpepper. I have gold in my "bank" and use it to purchase fiat when needed. My method of wealth preservation may be seen as archaic but more and more are adopting this approach. Kinesis has just had an audit and shows $70million in gold. This is small fry and i am not a participant in Kinesis but is just one pointer for the demand for a gold back currency. Once folks realized the fiat game is up miners (GGP) will see significant rises as the demand for gold increases and prices rise. ATB Speedy

Hi Monty. I am fully aware of the need for a "currency" it is the $ and all fiat currencies that are worthless. You are not stupid, so the reason you keep up this pretence is just to discredit my stance, you fail miserably. ATB Speedy

Hi Monty. My response was to show how worthless the USA$ really is. Fed controlled or off shore it is a worthless piece of paper whos only value is to the first user then inflating as it moves down the chain. The USA wants the $ to be supreme and will kill innocent folks to keep it that way, and is untrustworthy in the extreme. Many western govs do not want a return to the gold standard, it will render them impotent. This is why Russia, China, India and many, many others are looking to gold as a way of breaking free from the grip of the $. The reality is we will be forced to adopt a gold standard in some form or other, initially for trade with the eastern alliances. ATB Speedy

Hi Kevman. Nail that box down. ATB Speedy

Hi Monty. The Euro (offshore)dollar was introduced to stabilize/rebuild after WW2. $50million was the cap and was given to offshore banks free of interest. The banks took this free money paid and charged interest. As any one knows "free" leads to a grab more scenario. and the funds soon escalated to 100s of millions and prompted Nixon to abandon the $ gold swap.
It is still possible today to swap $s for gold but instead of $32/oz (1971) its now approx $1850/oz. My advice to you is "buy some physical gold". ATB Speedy

Hi Culpepper. Have just read the report in the link you supplied. Quite a good assessment of the probability of a gold back currency. The argument is there is not enough gold to match need. That is correct at to days POG. The POG will have to re rate to a far higher level. 1gram for a months work will do for starters. Or 100th of a gram for a barrel of oil. Or 1000th of a gram for (insert what you want).
Russia has placed gold on the blockchain and it is divisible to allow for purchases of a packet of sweets or a Newmont/NCM T/O. ATB Speedy

Hi Monty. It is you who is in the dark about currencies. The whole planet has been on a gold backed currency for in excess of 5000 years until the fatal act of taking the USA$ off the gold standard. Since that date the world has gone on a debt binge of gigantic proportions and gov backed fiat currencies have lost nearly all their purchasing power. Many countries around the globe are stockpiling gold for what is the inevitable collapse of the fiat system. Every fiat currency in history has gone down the pan and this system is no different. Speedy

Hi Ritchie. If i knew the answer to that i would be richer than Tymers.
My take on the POG at the moment is $1800 must hold and that looks to be the case. The problem is the market is all smoke and mirrors with false or no real info forth coming. Good indicators are the premiums being asked for physical gold/silver coins and they are very high plus the supply and demand position, taking recycled "scrap" gold out of the equation, makes the deficit approx 400 tons/yr and rising . The paper priced tail is still waging the physical dog and until the COMEX and LBMA go the way of all false markets, all bets are of the table in the short term. Long term there is only one way and that is higher, much higher. I have stated on here there is no profit to be had from inflation based POG increases, the profit will come from 2 angles, failure of the COMEX physical delivery system and a return to a gold backed currency and both are happening now. Hope that helps. ATB Speedy

Hi Redtrader. There is no doubt Hav will be mined. Whoever owns the 70% of Hav will mine it for obvious reasons. Demand is outstripping mined supply. When demand is higher than supply guess what happens , yes you get it the price goes up. Also new supply is getting harder to find and deeper. NCM, Newmont or whoever ends up with the 70% of Hav are in the game to mine for gold. Please give up on this fear spreading, ill informed, nonsense. Speedy

Hi all. The other day a poster asked what is going on at the COMEX. This exchange is shrouded in mystery and info is given in such a way as to make it almost impossible to determine current positions with week old news called the COT(commitment of traders) report. There has been no COT on gold for 3 weeks and 5 weeks in silver. This is blamed on an IT glitch for the gold report but no such excuse for the silver report. Open interest has fell off a cliff (very bullish) and traders standing for physical delivery are increasing. The COMEX is not meant to be a physical market place but there is a mechanism for standing for delivery in gold/silver not just $s. I do not belive for one moment the IT glitch excuse and something big is happening. That something could be the liquidity providers (physical holders) not wanting to deliver bullion at these squeezed prices. The information used for creating the COT report could be amassed very easily using older style methods so the IT glitch excuse is a tad lame. What has /is happening we will have to wait for more info to find out. As soon as i know i will post the info here. ATB Speedy

Hi Its. To counter your enthusiastic negativity. Speedy

Hi Bamps. The big boys know, this hence the dicking about with the SP and Hav size. ATB Speeedy

Hi All. There is a commercial bank giving financial advice to NCM and a commercial bank giving financial advice to Newmont. Newmont want NCM. If/when a maybe $25bill price tag is accepted the banks want their fee. JPM are acting for NCM whilst Bank of america are acting for Newmont. Be good to be a fly on the wall at the next lunch meet between Brian and Jamie. ATB Speedy

Hi All. We are expecting news soon, so the inevitable, subtle, professional, negative posts are appearing. Along with uninformed speculation and slight rise in the shorts has been responsible for the need to digest massive amounts of valium. This is AIM (risky) GGP are an explorer (very risky), soon to become a miner/producer (still very risky) but will be very profitable. If you have any doubts about GGP becoming a success sell and move on. But do not allow the present SP to influence your decision. ATB Speedy