China's gold buying & holdings , what it means for us .

[Prospector B]

Ok, here is why gold is a stupid investment. If you melted all the gold in the world you would have a big cube of gold, this cube of gold sits there and looks real nice and that is about it. To make money you have to sell it for more than what you purchased it for, it does not create money by doing things for you like a business would.

Don't ever invest in gold!!! People way smarter than you with huge computers try and minuplulate the markets to make their money, some succeed and some fail. In the end all you will have is a shiny cube that does nothing. People make money, not gold.

In relation to the USA not being the global currency, it will probably happen but will take decades and maybe a century. No point speculating, it will gradually happen. If it ever did go south then we are all stuffed and will be growing veggies in our lawn to survive. You will probably die defending your giant cube of gold

 

[Outback]

GOLD Billyen ,

Like your Retoric Sir
Makes me want to convert my AU$ cash savings into actual gold very soon

Just waiting to the currency traders push our dollar closer to the US dollar before I buy .

 

[thedigger]

People have got wake up,the system we work under today is going to fail very soon,just watch this video and you will understand what I mean.

http://hiddensecretsofmoney.com/videos/episode-4

The Digger

 

[Goldpick]

Being a US citizen myself who permanently resides in Australia, I would have to get my waders on to walk through the generalised horse puckies being thrown around this thread. I'm glad our arm chair economists don't run the world.

Totally agree with kemjak and totally disagree with Goldpick - I'm sure we would all speak Japanese here if it weren't for the Americans and we all can agree Australia cannot protect itself without their help. There are other countries which use the US dollar as their own currency - Ecuador for example, so I am sure the mass exodus will not be sudden or as catastrophic as you predict. The US dollar has not been based on gold in 43 years and it hasn't been abandoned yet. I'm sure nobody here knows how much gold the US holds.

The only sense I have read is China is stock piling gold and FREEDOM is worth more than all the gold in China.

Sorry if you are offended Paul, and I'm sure we are grateful for for what the US has done for us in the past, that was over 80 years ago, and the world is a very different place now unfortunately.

Does anyone know if Australia actually owns any physical gold, or would there be no point?

 

[KarlS]

Being a US citizen myself who permanently resides in Australia, I would have to get my waders on to walk through the generalised horse puckies being thrown around this thread. I'm glad our arm chair economists don't run the world.

Totally agree with kemjak and totally disagree with Goldpick - I'm sure we would all speak Japanese here if it weren't for the Americans and we all can agree Australia cannot protect itself without their help. There are other countries which use the US dollar as their own currency - Ecuador for example, so I am sure the mass exodus will not be sudden or as catastrophic as you predict. The US dollar has not been based on gold in 43 years and it hasn't been abandoned yet. I'm sure nobody here knows how much gold the US holds.

The only sense I have read is China is stock piling gold and FREEDOM is worth more than all the gold in China.

Sorry if you are offended Paul, and I'm sure we are grateful for for what the US has done for us in the past, that was over 80 years ago, and the world is a very different place now unfortunately.

Does anyone know if Australia actually owns any physical gold, or would there be no point?

I don't think Australia got much of gold reserve. Little Johny sold it off when gold was around $400 an ounce on advice of Reserve Bank.
Karl

 

[GOLD Billyen]

we all love the safety the us provides to the world but my kid could run an economy better the bagging is justified but shows people in Australia are scared we can see the way the us is going and if you have any brains you would be scared America likes the world to think they are nice the chinse don't care what others think they will be a lot more ruthless in there grab for world power

For a second there I thought you were going to quote Jack from A Few Good Men. "You want me on that wall...you NEED me on that wall!"

See...I told you Americans make good things...They made that movie.

 

[GOLD Billyen]

GOLD Billyen ,

Like your Retoric Sir
Makes me want to convert my AU$ cash savings into actual gold very soon

Just waiting to the currency traders push our dollar closer to the US dollar before I buy .

Thanks...it's what I think will happen...and I got slides to prove it.
I thought I was going to get bashed...the night is still young.

Serious though. I'm going to be coming into a large amount of funds soon and I need to make some important decisions. If I believe this, than I should maybe buy gold bars. Or gold stocks...miners that are producing with reserves...or a basket of junior gold explorers.

Gold man...messes with your head.