Bad times coming

[user 4386]

One man speaks out and the rest shut it down. I can prove everything Ive stated but it would overload you. And if you think its not a financial reset, look it up. Even the mainstream mockingbird media is talking about it now. People die every year from flu. And if you want a RNA vaccine in your system, good luck to you. The biggest problem this country has is cognitive dissonance, best demonnstrated by the replies here. I was actually trying to help.

You registered two days ago, have 9 posts and start pushing your nonsense onto people trying to have a serious discussion.

Benefits of mRNA vaccines over conventional approaches are:

Safety: RNA vaccines are not made with pathogen particles or inactivated pathogen, so are non-infectious. RNA does not integrate itself into the host genome and the RNA strand in the vaccine is degraded once the protein is made.
Efficacy: early clinical trial results indicate that these vaccines generate a reliable immune response and are well-tolerated by healthy individuals, with few side effects.
Production: vaccines can be produced more rapidly in the laboratory in a process that can be standardised, which improves responsiveness to emerging outbreaks.

Being well-informed is not cognitive dissonance - all those cognitively dissonant immunologists etc are a real danger to society, compared with people who get ideas from the internet and then troll others' sites. Yes, people die every year of flu - about 60,000 per year in the USA (compared with more than 300,000 there of covid so far, probably 400,000 over 12 months). That you can blandly make such a silly statement with absolutely no knowledge of the statistics shows that you have no idea what you are talking about - it is a dead giveaway.

You have freedom of speech to make such silly and dangerous statements but don't expect not to be picked up on it.

 

[silver]

One man speaks out and the rest shut it down. I can prove everything Ive stated but it would overload you. And if you think its not a financial reset, look it up. Even the mainstream mockingbird media is talking about it now. People die every year from flu. And if you want a RNA vaccine in your system, good luck to you. The biggest problem this country has is cognitive dissonance, best demonstrated by the replies here. I was actually trying to help.

Probly need to prove it then..... no matter how much overloading is involved.... it's only fair.... and who knows, maybe a mind may get changed as an outcome

 

[user 4386]

This is a heavy read but worth it

https://thedailycoin.org/2020/12/18/the-next-dollar-problem-has-just-arrived/

It's about money destruction ~ hyperinflation ' caused by over money supply that's set to destroy the US dollar & all fiat currencies that take their cue from it . :cloudy:

Investigate DeFi, you'll become aware of a whole new financial world that is developing at an incredible pace, it'll clearly illustrate the progressive decline of the traditional financial structures. Every day there are $Billions being traded around the world using blockchain technology, outside the traditional banking structures, transfers that take seconds to complete. https://defiprime.com/dex-volume Banks as we know them are becoming unnecessary, and the big trading institutions like JP Morgan, Goldman Sachs, Morgan Stanley etc, irrelevant.

Within the next decade we will see banks go the same way as Blockbuster video did with the introduction of Netflix, with blockchain based transactions and electronic currency, traditional banks are no longer needed, one can get better returns offering Crypto currency as collateral within the DeFi space for short and long term funding and loans. Insuring ones exposure... yes that is also readily available, plus the ability to withdraw your collateral in seconds if you wish, interest on the collateral you provide, it's not negative, 0.5 or 1%, it's double figures.

The world's underpinning currency is also due for a change as the $US is in a bad way with probably some of the worst inflation seen for many years, it's been with us as the world's currency for around 100 years and on an inflationary spiral since Bretton Woods, the previous 4 economies all met their demise every 100 or so years, The Portuguese in the 1500's, then the Spanish in the 1600's, the Dutch in the 1700's and the Great British Pound in the 1800's until the $US bailed England out after the 1st WW. Who's next to take over... the Chinese?? China has been importing mega volumes of gold for years so have the ability to underpin a 21's century world economy, all part of 'The Big Plan'?? Make your own decision on that one, but the Chinese influence around the world might suggest this as their 'Big Picture'.

Maybe there's a world map in a Beijing office with a label pinned to Australia saying "Socialist Republic of Australia" :awful: :awful:

It astounds me that you think the largest gold-producing country in the world imports "mega volumes of gold for years". It produces the equivalent of its entire gold reserves every 5 years. It produces 400 tonnes per year, but only imported 100 tonnes in the last two years. It only has the 6th largest central bank gold reserves in the world, the USA having four times as much as China, and even France, Germany and the Netherlands having larger central bank reserves. People just quote these silly things they read on internet blogs without checking their facts.

 

[aussiefarmer]

Seriously next thing you will try tell us santa isnt real....

 

[user 4386]

Seriously next thing you will try tell us santa isnt real....

Do you have any evidence to back that claim?

 

[Ridge Runner]

Ridge Runner, you do not readily pick up on sarcasm at times.

You are pissing in the wind with people who believe in that many different conspiracies....

And beware of those bacterium viruses (a new invention).

Yes mate I do pick up on it but making a joke out of the current situation is not the right thing to do, It's ok mouthing off about it when you are 14,000ks away and well protected but for the rest of the world it's a bit of a nightmare,

I don't mean to be nasty about it but being stuck in the middle of it I don't see it as something to joke about, be it sarcasm or any other form of humour,

My family is in the middle of it in North America, in total lockdown with toddlers and seriously ill with other illness (and we cannot go to them), my wife has had it infect staff at work, we have had to quarantine for months along with 150 other hospital staff because my wife works with autoimmune people, (ie quarantine, not just follow regulations), some of our friends and her non-covid patients have died of it, many have had it. I am sorry if all those things have happened to you also, but those medical people in their 70s who help keep people alive instead of hiding away to keep safe have strong views on people who tell people not to have immunisations, and can be sarcastic and mouth off if they wish to. And I am NOT joking about covid, I am being sarcastic about people who think the Almighty told them on the mountain that someone who had once seen a friend of Bill Gates and thought he looked shifty read on the internet that he was harvesting drugs to get high by killing children and is in leaugue with a cabal of Martians and World leaders trying to reduce the Earth's population. Ezpecially people who don't even know the difference between a microbe and a virus. Lighten up, like us you are still alive...and I hope we all stay that way.

I'm in the thick of it here with the highest lockdown level so lord knows what our American Cousins are going through, To be honest this new strain is a worry because it spreads 70% faster than the normal strain, which is why they have lockdown over 38,000,000 people so far,

 

[user 4386]

Yes, I saw that Ridge Runner. Not sure how they measure that in any meaningful way though, since infection rate is dominantly related to how people behave. Just keep your head down for now....

 

[Dihusky]

It astounds me that you think the largest gold-producing country in the world imports "mega volumes of gold for years". It produces the equivalent of its entire gold reserves every 5 years. It produces 400 tonnes per year, but only imported 100 tonnes in the last two years. It only has the 6th largest central bank gold reserves in the world, the USA having four times as much as China, and even France, Germany and the Netherlands having larger central bank reserves. People just quote these silly things they read on internet blogs without checking their facts.

goldierocks, I respect you knowledge in many areas of the mineral industry and I freely admit I'm sticking my neck out by saying you may be wrong with your perception of their imports, information from both Reuters, China Customs and other sources are stating that in 2018 the import total was around 1500 tonnes and by the first half on 2019 an additional 575 tonnes had been imported.

Published informtion would support this:

Certainly things have been changing since mid 2019, and this may indicate when they started importing Dore bars direct from mines that have interests in and are not accounted for as Bullion transfers.

Stay safe, you couldn't pay me be in the US, not with all the Gold?? in China Dealing with a resident a work, Aussie with her family in LA and she seriously doesn't want to go home Scared as some of her husbands staff are now positive.

 

[Outback]

One man speaks out and the rest shut it down. I can prove everything Ive stated but it would overload you.

Hello AJ ,
I'll like to hear what you can prove even if it overloads me

Jack

 

[Outback]

When I started this thread the theme was to warn about what's coming , there seems to be an interest as the views are now over 2100 .

Earlier on there was a comment ~ Buy Bitcoin .

Economic fundamentals have taken a back seat to fantasy & hyperbole
Case in point : Bitcoin .

Those words were From a resent article by Kelsey Williams .
Complete article https://www.kelseywilliamsgold.com/bitcoin-and-beyond-price-vs-value/

I suggest reading it before buying any bitcoin .

 

[user 4386]

Dihusky, usually discussion is about Central Bank buying of gold and that is what I was referring to, because that is what is relevant to backing an economy, supporting currencies and controlling inflation by a country (it helps back the currency, albeit no longer officially). And that is what your post discussed. That amount was 100 tonnes as I said. There is large-scale PRIVATE buying of gold in many countries, not least China where a significant amount of the country's annual production is also absorbed internally rather than sold overseas. The gold held by all Central Banks in the world is only a very small amount of the gold in circulation.

If that is the figure you were referring to , we probably do not disagree. However I feel that figure is not at all relevant to currency support etc. and the points you were making. Chinese central bank holdings remained pretty flat.

And I meant Italy, not the Netherlands.

It finally explains to me why I have scratched my head for years as people wrote on this blog about China and Russia buying gold. It has always been in the context of having more gold to support their currency, which is not the case except for central bank purchases (small). It seems there are many misconceptions out there about how gold backs currencies!

 

[Davent]

And here we are sitting on 67 tons

 

[davsgold]

And here we are sitting on 67 tons

thats because our previous treasure under the Howard government sold about 167 tons at just over $300 US and oz, because he could not see the point in hanging onto it.

"In November 1997 the then Treasurer, Peter Costello, shocked some people when he announced he'd signed off on the sale of $2 billion worth of Australian bullion. On the day he announced the sale the price was around $US306.00 an ounce. At the time, according to Mr Costello, gold "no longer plays a significant role in the international financial system"." oop:

Well that proved to be a wise decision. NOT, so instead of the 2 billion he got, it would now be worth 18 billion USD, not much really I guess when they have spent something like 300 billion AUD on the Covid19 stimulus packages to prop up the Aussie economy, and it's not really over yet :goldpan: :goldnugget: ickshovel:

 

[user 4386]

There are three primary reasons why gold is the reserve commodity of choice for national banks.

1. To mitigate risk
Gold is a well-known safe haven investment prone to acting positively in times of uncertainty and market volatility. It is viewed as an asset that holds no liability, adding to its ability to mitigate risk. Central banks look to purchase gold as a hedge against a weakening dollar or any other fiat currency.

2. To hedge against inflation
Hedging against the effects of inflation is another reason why central banks buy gold. In its simplest terms, inflation is the rise in price of a basket of goods. In order for inflation to not dramatically impact a countrys economy, the nation requires investments that are not tied to the dollar. Enter gold and the other precious metals.

3. To facilitate stability and growth
The primary function of central banks is to promote stability and foster economic growth. As currencies become increasingly devalued, banks must ensure their respective economies dont flounder. As such, gold is used to control the size and speed of market growth.

Using Chinese and Russian central bank gold buying as an example, emerging economies are especially exposed to free market excesses and use gold to offset the risk. Owning gold prevents these excesses from utterly driving currency and damaging industry, The US Federal Reserve tops the list of central bank gold buyers. The US holds 8,134 tonnes of the yellow metal, almost doubling second place Germanys number of 3,364 tonnes. Italy, France and Russia take the third, fourth and fifth spots, banking 2,452, 2,436 and 2,300 tonnes. respectively. China and Switzerland hold the sixth and seventh positions with 1,948 and 1,040 tonnes. Down the list with less than 1,000 tonnes each are Japan (765), India (658) and the Netherlands (613). TRhese figures are not completely up to date.

The importing and exporting of gold by nations is an entirely different thing - it is on a scale at least six times larger. While you might argue that a country like China might expropriate privately held gold, this can also happen in Western nations, so cannot be used as a basis for comparison. The US Fed used it in the 1930s - it forced all private holders of gold to sell to it at a price that it fixed. Once it held all the gold it then allowed the price to climb, and let private buyers buy gold back from it, doing very well out of the deal. A similar thing happened in Australlia in the 1950s when our government made it illegal to hold gold. In any normal operation of international economies (including in crises), it is the central bank holdings that are relevant as the government can do what it likes with it, buy, sell to varying degrees.

Around 200,000 tonnes of gold has been mined throughout history, of which around two-thirds has been mined since 1950. All the Central Banks of the nations of the world only hold around 30,000 tonnes of that. As for private holdings of gold, noone knows where it is, but probably not where you would assume. For example, "collectively, Indian households have the largest amount of gold in the world roughly 24,000 metric tons". Nearly as much as all central banks. Another figure - all the gold ever mined in the world and in private plus government hands would be worth around 9 trillion dollars. The world economy is about 90 trillion dollars. So the price of gold would have to rise to about $20,000 per ounce to cover it - which is unlikely to happen.

 

[user 4386]

And here we are sitting on 67 tons

thats because our previous treasure under the Howard government sold about 167 tons at just over $300 US and oz, because he could not see the point in hanging onto it.

"In November 1997 the then Treasurer, Peter Costello, shocked some people when he announced he'd signed off on the sale of $2 billion worth of Australian bullion. On the day he announced the sale the price was around $US306.00 an ounce. At the time, according to Mr Costello, gold "no longer plays a significant role in the international financial system"." oop:

Well that proved to be a wise decision. NOT, so instead of the 2 billion he got, it would now be worth 18 billion USD, not much really I guess when they have spent something like 300 billion AUD on the Covid19 stimulus packages to prop up the Aussie economy, and it's not really over yet :goldpan: :goldnugget: ickshovel:

Two points - the time value of money and interest earnings. The time value of money would make that 2 billion worth 3.4 billion today. And it would have been earning no interest over 23 years, so the 2 billion he got would have earned a lot more since then ($6 billion over 23 years at 5%). But still nothing like $18 billion.

A third point - it was immediately invested in foreign currency assets so Australia;s holdings did not decrease as a result of the sale. It is not a Central Bank's job to speculate on the gold price (or anything else). That would really make us a banana republic. The price went up significantly - it did not have to....a Central Bank;s aim is to maintain financial stability, not make a windfall profit.

The reasoning was "a country in Australia's position, with large gold reserves in the ground and high annual production, derives negligible diversification benefits from holding a significant proportion of its international reserves in the form of gold". The total amount of gold sold amounts to about the last 6 months of Australia's gold mine production. The same is true of China, Russia, the USA and probably Canada. However it is not true of most other countries. The sale was a drop in the ocean for Australia......

 

[Outback]

And here we are sitting on 67 tons

That 67 tons was sent to UK ages ago & is now leased off

We will never see it again

Protect yourselves Now ! turn your Aussie dollars into real money , use it to buy gold or silver before it loses all it's value .

I ******** you not !

Jack :beer:

 

[AnzacJase]

And here we are sitting on 67 tons

That 67 tons was sent to UK ages ago & is now leased off

We will never see it again

Protect yourselves Now ! turn your Aussie dollars into real money , use it to buy gold or silver before it loses all it's value .

I ******** you not !

Jack :beer:

Well said mate, exactly what I said above amidst my comments. Buy as much PM as you can with the fiat currency. And I would post proof of my other claims but I cant post links. Look up usufruct. The dollar is down to 4 cents of its value. Printing more currency devalues it even more. Once it hits 2 cents. Its a reset

 

[user 4386]

And here we are sitting on 67 tons

That 67 tons was sent to UK ages ago & is now leased off

We will never see it again

Protect yourselves Now ! turn your Aussie dollars into real money , use it to buy gold or silver before it loses all it's value .

I ******** you not !

Jack :beer:

67 tonnes is neither here no there - one little gold mine in Victoria produces about that much every year - the country produces 5 or 6 times as much. Again, trhe issue of private versus State gold.

 

[davsgold]

The reasoning was "a country in Australia's position, with large gold reserves in the ground and high annual production, derives negligible diversification benefits from holding a significant proportion of its international reserves in the form of gold". The total amount of gold sold amounts to about the last 6 months of Australia's gold mine production. The same is true of China, Russia, the USA and probably Canada. However it is not true of most other countries. The sale was a drop in the ocean for Australia......

What you say makes no real sense. If that was the case then why did China buy gold all those years ago when it was cheap, as they also produce a lot of gold themselves, they were buying 1000 tonnes a year there for sometime, at cheap rates, and well who came out a winner by doing that.

Here they sold the gold and every other asset they could to make it look like there was a surplus, in reality it was smoke and mirrors, sure we have plenty of gold to dig up, and at present most gold producers have a good margin at the price it selling for, a margin of around AUD $1000/oz and thats why companys are drilling like mad to get there reserves up for the future while its good going.

 

[user 4386]

The reasoning was "a country in Australia's position, with large gold reserves in the ground and high annual production, derives negligible diversification benefits from holding a significant proportion of its international reserves in the form of gold". The total amount of gold sold amounts to about the last 6 months of Australia's gold mine production. The same is true of China, Russia, the USA and probably Canada. However it is not true of most other countries. The sale was a drop in the ocean for Australia......

What you say makes no real sense. If that was the case then why did China buy gold all those years ago when it was cheap, as they also produce a lot of gold themselves, they were buying 1000 tonnes a year there for sometime, at cheap rates, and well who came out a winner by doing that.

Here they sold the gold and every other asset they could to make it look like there was a surplus, in reality it was smoke and mirrors, sure we have plenty of gold to dig up, and at present most gold producers have a good margin at the price it selling for, a margin of around AUD $1000/oz and thats why companys are drilling like mad to get there reserves up for the future while its good going.

Noone thinks there is a surplus in gold. For decades World demand has been 25-33% higher than World production. Gold does not behave like a normal commodity, yet we still get articles that point to gold mine production being up or down for the year and speculating on the price - when in fact it is quite insensitive to normal production fluctuations.

And again you are mixing private Chinese purchases with Chinese State purchases - they are not the same thing.

And when you say "all those years ago", China only became a significant gold producer long after other gold-producing countries. Most of the climb in World gold production was over (had stabilised at a high level) by 1991. China was only beginning its climb then.

But it is also incorrect to say that China bought huge amounts of gold years ago when it was cheap - they were insignificant buyers until about 2004, when they strted buying gold as it was rising rapidly in price.