Member Info for speedymeadie

Hi Lee. You have just described how USA debt is structured not how it works.

It works by central banks issuing it at the click of button and then charging interest on it.

The USA debt pile has morphed into an un serviceable monster and increasing at a rate that will see it collapse in the not too distant future. ATB Speedy

@Freddie. You have the option of ignoring the debate, or maybe it is just above your pay grade.

Hi Bamps. The POG has been controlled for decades and is at the moment undervalued. Not sure what level true value will turn out to be but rest assured it will be higher than now, much higher. ATB Speedy

Hi Bamps. Japan holds most USA debt by a country mile. China has reduced its holdings of USA debt by 30% in the last few years. The Chinese continue to add to their gold holdings by encouraging its citizens to buy physical gold and by not selling one Oz of its countries production. Once their central bank restarts their massive buying spree the POG will accelerate beyond ATHs. ATB Speedy

Hi All. Apologies to readers on taking up so much space but gold is our asset.

Most investors have no idea how the gold market works and the western central banks want to keep it that way. The price suppression/control has been going on for decades and is well documented/proven through the courts and fines imposed. What is happening now is the price setting is moving away from USA to China. Will the Chinese continue the suppression? Only if it suits them.

The inflation driven gains in the POG is net zero but as the suppression continues to be less meaningful the holders of physical gold will see real profits as gold takes it central position as the word currency and demand outstrips supply leading to much much higher prices.

I called $2500/oz for 2023 but missed it by a couple of months and a few $s. I would not be surprised to see over $3000/oz in 2024. ATB Speedy

Hi All. Todays action shows the banks are trying to keep it below $2300/oz but physical purchases has seen a rise just above that. As soon as China steps on the gas ATHs will be broken in short order. We are now witnessing the end of the price suppression and the criminal bankers disguised as traders will exit the trade and take their losses on the chin. This will see many bullion bank trading desks closing for good and not soon enough. ATB Speedy

Hi All. Ignore me, just found them. ATB Speedy

Hi All. What happened to them? ATB Speedy

Hi Ace. "Shotgun", are you referring to a "blow back"? Queens English and all that. ATB Speedy

Hi Barna. Summer and Autumn will see our BODS earning their keep. If only 50% of those goals are attained, then yes, a very merry Christmas. ATB Speedy

Hi Lee1235. Stopped smoking the weed many many years ago.

The USA $ is in terminal decline, it has lost 98% of its purchasing power since the 70s. You provided a link from the FT. Owned by Nikkei from Japan stating central banks intend to buy more USA$s. Japan is the biggest holder of USA $s at $1.1trillion, not going to say "sell $s" are they. The USA, Europe,UK and Japan central banks will try to keep the plates spinning at all costs, after all their sole purpose is to issue debt.

I suggest you read a wider spectrum of news and not rely on the establishment to tell you the truth.

May i also suggest you eat, it as opposed to dangerously smoking it. ATB Speedy

Hi All. The demise of petro $ is imminent and instead of talking about the ramifications to gold and the miners we just see bickering between grown men/women.

If the fall of the petro $ is the catalyst for a gold price rerate ( i say rerate because the present POG is no where near sufficient to cover trade between nations) then the sooner you all load up on physical gold the better.

Instead of pricing gold in $s look at gold ozs for a barrel of oil, wind turbine, solar panel or an acre of land. You will then start to see the real value of holding gold. ATB Speedy

Hi Brillgold/Bancal. Thanks for the info. I was not aware of the date of the ending of the petrodollar. Not a moment too soon as far as i am concerned. The demise of the USA$ will put an end to their war mongering in an attempt to keep the $ used as a reserve currency.

Maybe the pull back Friday in the POG is part of this process. Last ditch attempt to clear the short position prior to the return to gold backed currencies and the re rate for gold prices.

What ever the outcome it must now be clear, to all intelligent folks, that owning physical gold is a good idea. ATB Speedy

Hi Brillgold. What is the significance of 9th June?. ATB Speedy

Hi All. There are so many permutations to the outcome for GGP that it does no one any good trying to work out what will happen. With our present BODs and financial backers we are in a position to deal with all possibilities. I trust SD to keep his word to us all and deliver fair value whilst fulfilling his dream to develop a mining giant. ATB Speedy

Hi All. Any headwind news about gold is jumped on by the paper gold banks. They are desperate to square the books and will be looking to push prices lower. The two bits of news today was 200k jobs created, low paid stuff and China halted their buying frenzy in May due to near ATHS, bet that restarts very soon. The $90 hit will probably lead the way for a further fall to about the $2250 mark and then continue its bull run to much much higher prices. As usual joe public has been wrong footed and added to gold ETFs at the high. When will they lean that physical gold held long term is far better. Anyone thinking of purchasing physical gold should just do it and ignore the short term volatility. ATB Speedy

Hi All. I should imagine that after SD gave Biswas a bloody nose, he would be looking for some sort of pay back. With the help of Elliot he may be one of the interested parties. I am confident SD will win round two also. ATB Speedy

Hi All. The $25 drop in less 4mins tells you that the banks have not let go of the paper price suppression. These small pullbacks are a gift and are becoming less and less meaningful. One day soon they will have to take the losses on the chin ($50 bill) and let the POG rip. ATB Speedy

Hi Welsh. You beat me to it. ATB Speedy

Hi All. If a third co buys Telfer it will be tied to the JV agreement stating 10% tolling fee. This is in stone and can only be changed with our approval. Stop making up outcomes just to fill a post.

We are in an enviable position and on the way to fair value, just have to wait a bit longer. ATB Speedy