Big Market Correction

[Tatetopa]

On 2/9/2018 at 0:01 PM, Gromdor said:

Did you know people can even make money when the stock market goes down?  It's a process called short selling. 

One of the Goldman Sachs guys said that in an interview on the radio.  He indicated that big banks do better when there is a little volatility that when the market is stable or heading in one direction only.  If you must think about conspiracies, consider a Wall Street Board room where people are discussing getting in position for a quick market drop to shake money loose from all the little guys that panic and sucking it up.  Do they cause the downturn, help it along, of just get  ready to jump when it happens?

[+DieChecker]

On 2/15/2018 at 11:42 AM, CeresExpo2000 said:

You won't have to wait long.

BTW, we have a New Fort Knox.

Give me a single nation... I'll even accept one of the tiny island nations, or tiny European nations, that is now, or soon will be, using the Gold Standard?

[Gromdor]

3 hours ago, DieChecker said:

Give me a single nation... I'll even accept one of the tiny island nations, or tiny European nations, that is now, or soon will be, using the Gold Standard?

There are plenty of countries that have a gold reserve.  Gold basically hoarded but separate from the monetary system so that the country has some economic clout in the event of a currency collapse.

  But the main problem of being on a gold standard was that other countries basically cashed all their trade surplus into gold and drained the country of it's gold and thus ruining it's currency system.  The only way it would truly work was if the whole world was on a single gold standard (Globalism anyone?) and we decided that the value of all the worlds gold was the value of all the worlds currency. 

It's why I usually laugh when people bring up the gold standard. 

[CeresExpo2000]

On 2/18/2018 at 6:55 AM, DieChecker said:

Give me a single nation... I'll even accept one of the tiny island nations, or tiny European nations, that is now, or soon will be, using the Gold Standard?

China

[Gromdor]

2 hours ago, CeresExpo2000 said:

China

China actually started a "Petroyuan" system to unseat the US dollar as the world's reserve currency.  It's actually a more oil-based monetary system based of oil futures (another financial product you can invest in, like stocks).  Because the yuan still is untrusted and fluctuates they are further backing the contracts in gold.  China doesn't have a gold standard in that the yuan itself is not redeemable in gold, because there isn't enough gold to back it.

[CeresExpo2000]

1 minute ago, Gromdor said:

China actually started a "Petroyuan" system to unseat the US dollar as the world's reserve currency.  It's actually a more oil-based monetary system based of oil futures (another financial product you can invest in, like stocks).  Because the yuan still is untrusted and fluctuates they are further backing the contracts in gold.  China doesn't have a gold standard in that the yuan itself is not redeemable in gold, because there isn't enough gold to back it.

I heard that China is currently sitting on a lot of Gold.  Update......soon.

[+DieChecker]

5 hours ago, CeresExpo2000 said:

I heard that China is currently sitting on a lot of Gold.  Update......soon.

As far as I know, almost all gold that comes out the ground is accounted for. Unless the Chinese have secret mines that make more gold then all of the other mines in all of human history? I've not heard of any Chinese super mines though.

I already linked to the total gold world estimate. And if it is not enough for even a fraction of the US economy, then it isn't going to be enough for the Chinese economy either. 

Basically... You're just repeating BS you probably heard somewhere. 

[Gromdor]

Don't get me wrong.  Gold can be a worthwhile investment.  Just don't tie your retirement planning to fairy tales.

Edited February 21, 2018 by Gromdor

[+DieChecker]

18 hours ago, Gromdor said:

Don't get me wrong.  Gold can be a worthwhile investment.  Just don't tie your retirement planning to fairy tales.

Ha. I heard a gold advertisement on the radio while I was driving around the other day. They really play it up, saying how it "retains" value in down trending markets, and that you have an "actual" asset. Then at the end there is a super quick disclaimer saying there is no guarantee gold will out perform the market, or even hold value, and that you shouldn't buy gold without consulting a investment professional first. 

Gold follows the market, just like any other commodity, perhaps just not as volatile. 

Edited February 22, 2018 by DieChecker

[+DieChecker]

On 2/20/2018 at 7:04 PM, DieChecker said:

As far as I know, almost all gold that comes out the ground is accounted for. Unless the Chinese have secret mines that make more gold then all of the other mines in all of human history? I've not heard of any Chinese super mines though.

I already linked to the total gold world estimate. And if it is not enough for even a fraction of the US economy, then it isn't going to be enough for the Chinese economy either. 

Basically... You're just repeating BS you probably heard somewhere. 

So, just dug a little bit....

On 2/15/2018 at 3:49 AM, DieChecker said:

There is reportedly about 360 million pounds of gold.

Which is 180,000 tons (@2000 pounds per ton). And China has 1800 tons. So the Chinese have about 1% of the worlds known gold. And to go on a Gold Standard, they'd need about 300% of the known gold, just as the USA would.

[CeresExpo2000]

On 2/20/2018 at 10:04 PM, DieChecker said:

As far as I know, almost all gold that comes out the ground is accounted for. Unless the Chinese have secret mines that make more gold then all of the other mines in all of human history? I've not heard of any Chinese super mines though.

I already linked to the total gold world estimate. And if it is not enough for even a fraction of the US economy, then it isn't going to be enough for the Chinese economy either. 

Basically... You're just repeating BS you probably heard somewhere. 

- Secret Mines -

[Gromdor]

5 hours ago, CeresExpo2000 said:

- Secret Mines -

Maybe they developed alchemy?

[mysticwerewolf]

I admit that I am no expert. I lost over 30 thousand dollars in the 2007-2008 crash. but if the investment broker had listened to me I would not have lost as Much what goes up must come down I didn't want to invest in stocks and will never do so again. the gentleman told me it would not be put in stocks and I believed him. He lied through is teeth and when it fell I lost 80% of what I had invested in just a couple weeks.

[Gromdor]

6 hours ago, mysticwerewolf said:

I admit that I am no expert. I lost over 30 thousand dollars in the 2007-2008 crash. but if the investment broker had listened to me I would not have lost as Much what goes up must come down I didn't want to invest in stocks and will never do so again. the gentleman told me it would not be put in stocks and I believed him. He lied through is teeth and when it fell I lost 80% of what I had invested in just a couple weeks.

They are there to sell a product, not look after the investor. The Dept. of Labor made a ruling making them responsible for their client and not their company after the 2007-2008 crash.  Unfortunately, that was one of the first things Trump axed:  https://www.forbes.com/sites/jamiehopkins/2017/02/03/trump-signs-executive-order-shelving-fiduciary-standard-for-financial-advisors/#50deec665863

Profit before people and all that.

So if you invest again, be aware of this fact when consulting an investment broker.

Edited February 23, 2018 by Gromdor

[mysticwerewolf]

so I found out.