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dieselbuddyPE

Rookie Author
PEI

Posts:3
Points:160
Joined:Sep 2008
Message Posted: Sep 14, 2008 7:58:21 AM

time to buy but not on margin the united state money printing press is on a potential high inflation run. gold is the only honest currency.real wealth is not created by money printing as germany tried in the past and it took a wheelbarrowful of money to by a loaf of bread. if it was that simple we would all have a money prnting machine
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FaithAlone
Champion Author Rio Grande Valley

Posts:12,655
Points:2,428,560
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Message Posted: Sep 25, 2009 9:27:18 AM

I Googled the story on the IMF selling gold, since I had not heard that had happened. Apparently, it hasn't. The IMF has been saying all year that it is going to sell 400 tonnes of gold, but it never does actually do it. Here's a link to one such story Why IMF announces but fails to sell gold
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Sam195
Champion Author San Bernardino

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Message Posted: Sep 21, 2009 10:16:09 PM

The Chinese are buying gold. But the IMF is selling. It's hard to tell what the true market value really is with all the central bank transactions. Then there are all the questions about how much gold the central banks have actually leased out. I still love the shiny metal, though. The U.S. Eagle is one of the nicest looking coins ever.
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FaithAlone
Champion Author Rio Grande Valley

Posts:12,655
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Message Posted: Sep 14, 2009 10:29:01 AM

That's right OilHo. And, the Chinese are buying gold like crazy.
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OilHo
Champion Author Ontario

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Message Posted: Sep 9, 2009 12:15:42 AM

China is selling the USD. Looking for a place to put their cash.
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FaithAlone
Champion Author Rio Grande Valley

Posts:12,655
Points:2,428,560
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Message Posted: Sep 4, 2009 2:06:22 PM

My precious metals holdings have skyrocketed in the last few days. Here's the question: is this a permanent or long-lasting upward trajectory, or just a short-lived boom to be followed by a bust? Comments?

My own thoughts: Gold is getting ready to move over $1,000/ounce, but I suspect it will come back down slightly below that. Silver may go to $20/ounce, but probably will drop back to $15 or so.
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Sneakers55
Champion Author Houston

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Joined:Nov 2005
Message Posted: Sep 29, 2008 4:51:18 PM

Gold is best spelled without the "O". Just get "GLD" and consider it done.
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Sneakers55
Champion Author Houston

Posts:62,868
Points:2,738,820
Joined:Nov 2005
Message Posted: Sep 29, 2008 4:42:51 PM

It's only $700 billion if every piece of paper they buy turns out to be worthless. That's not going to happen.

They did exactly the same kind of thing in the Great Depression. Instead of foreclosing, they let people pay as they could. Within a few years, the once-worthless paper was profitable again.
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bullwinkleOH
Rookie Author Cincinnati

Posts:31
Points:30,545
Joined:Aug 2008
Message Posted: Sep 23, 2008 7:57:17 PM

Hate to say he's right, but $700,000,000,000 in Wall Street deficit bailout spending can't be wrong!!!?
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tshac
Sophomore Author Virginia Beach

Posts:215
Points:606,900
Joined:Aug 2008
Message Posted: Sep 18, 2008 10:33:33 AM

Hmmm...
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