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19:57
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Originally posted by eshmun
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Banging on about manipulation everywhere. Wake up the Fed is now bailing out everyone, printing money to infinite. There is nothing left that is not being manipulated. It is complete madness. People who remain in any of these markets are just letting themselves get swept downstream by the strongest financial river of money that has ever been unleashed. That river just leads to an ugly sea of price inflation and capital controls over average people. I've explained in a previous post why gold doesn't work in a situation like this. If everybody rushes to it, it firstly defeats the Feds plan to stop the bond market's sell offs and will be made illegal and secondly the more people who hold it the less they have to hold making the concept of "holding gold" meaningless. If you can only get a very small amount no matter its price, gold loses its tangible value and if they make a derivative of it, it becomes as worthless as all the other derivates/fiat currencies that were fast becoming worthless before the Fed announced it would backstop everything. Gold will never back the monetary system because there is not enough of it. It will end up being used by some central banks who hold enough of it as mechanism to settle direct trade outside of the USD which if markets were free would right now be practically worthless as they are printing the dollar to infinite. It is not the ultimate safe haven. It can be subject to capital controls like it was previously, made illegal for 41 years in the US. US debt and the money that is being monetised from it only has value if it is capable of being repaid, those days are now gone. The US tax payer can't pay for the debt being created by the Fed but the world is so screwed up the "free" markets have a record jump on the news that the Fed will print whatever it takes to re-inflate the bubble. If you stay in this crazy and unprecedented bubble with no foundations you will reap what you sow. Society is being destroyed before our very eyes and all we care about is trying to justify the value on near valueless paper everywhere. What is happening all around us is not all related to the virus. Times are a changing and paper is not where you should be placing all your faith in IMO. Try buying 1kg of flour first, I haven't been able to for over a week. The outcome of this crisis is still not clear. Esh
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I fail to see how gold is not going to $2000US/oz
(20min delay)