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Dollar reserves vs Gold reserves

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murchr		#1 Posted : Tuesday, March 20, 2012 8:29:26 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		Which of the two is more important and why do they (world bank) keep insisting that we need to raise our dollar reserve? Why not Gold? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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kyt		#2 Posted : Wednesday, March 21, 2012 8:47:18 AM
Rank: Elder Joined: 11/7/2007 Posts: 2,182		Gold anytime i think WB just wants to mess us up!! the value of gold will always go up. its a rare commodity. LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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hisah		#3 Posted : Wednesday, March 21, 2012 10:33:22 AM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		If you were running a fiat currency system i.e. backed by nothing would you want to hear about gold reserves? In a fiat currency system you can print as much money as you want out of thin air as you want. Can you print gold? In this case any money master wouldn't want anything to do with gold reserves or gold backed money. Bring back the gold standard, but the immediate consequence would be a major burst of the current global debt bomb. Cool $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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mkeiy		#4 Posted : Wednesday, March 21, 2012 3:32:09 PM
Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi		hisah wrote: If you were running a fiat currency system i.e. backed by nothing would you want to hear about gold reserves? In a fiat currency system you can print as much money as you want out of thin air as you want. Can you print gold? In this case any money master wouldn't want anything to do with gold reserves or gold backed money. Bring back the gold standard, but the immediate consequence would be a major burst of the current global debt bomb. Cool If i'm not getting it wrong, you are for gold reserve with the only downside being the immediate adverse effect on debt. I also think we should go for both dollar and gold reserve,a third of gold and two thirds dollar. The most ideal situation would be more of gold than dollar, but with our current trade deficit, dollar reserves are called for but not 100% of our reserves. Gold reserves will bring in appreciation of reserves overtime.
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murchr		#5 Posted : Wednesday, March 21, 2012 6:00:54 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		There is this talk that the value of the $ is pegged on the gold that the US has, and there is a possibility that the gold is not there or its over stated. Now, if its true that the US doesnt have the gold that they claim to have, where can we place the dollar? "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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hisah		#6 Posted : Wednesday, March 21, 2012 6:25:53 PM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		murchr wrote: There is this talk that the value of the $ is pegged on the gold that the US has, and there is a possibility that the gold is not there or its over stated. Now, if its true that the US doesnt have the gold that they claim to have, where can we place the dollar? The USD is no longer backed by gold thanks to one Richard Nixon back in 1971. @mkeiy - I'm for gold reserves and as well as a hybrid basket of currencies as a reserve. This way one nation's economy does not determine the direction for everyone. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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murchr		#7 Posted : Wednesday, March 21, 2012 7:14:17 PM
Rank: Elder Joined: 2/26/2012 Posts: 15,980		@hisah thanks for the info "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore .
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Cde Monomotapa		#8 Posted : Thursday, March 22, 2012 7:59:13 AM
Rank: Chief Joined: 1/13/2011 Posts: 5,964		This yellow metal is the next Tulip...haiya..
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Horton		#9 Posted : Thursday, March 22, 2012 8:09:49 AM
Rank: Veteran Joined: 8/30/2007 Posts: 1,558 Location: Nairobi		Everyone should buy a PAMP gold bar. Inflation proof and u can even buy at around 20k for a 5g bar Compare to world currencies over a 10 year period and u will see why http://www.providentmeta...-center/buying-gold.html
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hisah		#10 Posted : Thursday, March 22, 2012 10:05:49 AM
Rank: Chief Joined: 8/4/2010 Posts: 8,977		Cde Monomotapa wrote: This yellow metal is the next Tulip...haiya.. Read the WGC report for 2011 and see how CBs have been net buyers of gold since 2010 hand over fist. If you think gold is the dutch tulips then buy silver. You can thank me later in 2014. Are you aware gold/silver bank accounts have been established by chingland for its citizens to diversify from USD. When the gold/silver asian comex takes the market away from the fraudulent US & UK comex, the price rating will be interesting. Keep watching $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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kizee1		#11 Posted : Thursday, March 22, 2012 4:21:38 PM
Rank: Member Joined: 9/29/2010 Posts: 679 Location: nairobi		hisah wrote: Cde Monomotapa wrote: This yellow metal is the next Tulip...haiya.. Read the WGC report for 2011 and see how CBs have been net buyers of gold since 2010 hand over fist. If you think gold is the dutch tulips then buy silver. You can thank me later in 2014. Are you aware gold/silver bank accounts have been established by chingland for its citizens to diversify from USD. When the gold/silver asian comex takes the market away from the fraudulent US & UK comex, the price rating will be interesting. Keep watching silver has many more commerical uses than gold, gold is just a shiny metal, silver reserves have shrunk drastically fyg..ratio of gold to silver reserves is at a historic low yet ratio of gold price to silver at an all time high
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