Price of Gold

Bloomberg recently published a piece called, ‘The Gold Market’s Great Migration Sends Bullion Rushing East.’

The article notes that China has imported 160 TONS of gold since April, India has added 80 tons, Turkey 62, and the list goes on. Is the U.S. — or other Western nations — selling gold to China? And if so, why wouldn’t we be buying it, instead?

Price of Gold

Price of gold - Gold Gold Bars - Standard Restoration Act,

Carol Roth, financial expert and author of ‘The War On Small Business,’ joins Glenn to make sense of this ‘head scratcher.’ She theorizes what’s REALLY going on with gold, and she explains why the U.S.’s lack of long-term thinking regarding gold, should worry you.

Comment on this video from Hal:

I’m starting my thoughts before I have seen this full clip. Just a couple thoughts : I was born in 1944. As a kid, the purchasing power of our dollar was really about .48 cents. I graduated college in 1967. and my first job paid $6000.00 per year. I could afford rent for an apartment, a car payment , food etc., and maybe one credit card ( small ). Todays starting salaries are much larger but, you can’t get anymore than I could in 1967. If you say the starting salary for a Bachelor’s Degree today is 65,000 : 65.000 / 6,000 = 10.83 .Just for quick calculation .48 cents / 10.83 = .04 .

Some more pondering : The Fed has been pouring money into the system for a few years. Now, they are trying to remove some but, the further diluting of the .04 purchasing power doesn’t speak well of things.

Now we get to gold : I had some a few years back, sadly bought at a high. As we devalued devalued our money by printing more, the price of gold should have gone up, even admitting that our money is not backed by gold. The price went down.

Now Wall St. has done a whole lot of paper shuffling and as was mentioned, we have a few trillion on paper valued in our dollar. A few months back, the price of oil went below ( 0 ) to a negative. What is our dollar really worth ? Anything. ?

When push comes to shove, the real item , gold, is going to be what is wanted, not the paper.

Sadly few Americans have valued the longterm thinking of the Far East and other areas. If they have to wait 25 years or more to see the water erode the rock, that is ok. They are building up the stockpiles , can we be sure our we are.

From prior history, I sadly think not. Just a few things that come to mind as I listen to your video. Now, I’ll listen to the rest. All the best, Hal PS : If we go to war, are we going to pay the bill arms manufactures etc. with money from Washington DC or from funds we have already sent to our friends currently fighting Russia ? Also, we haven’t taken into account the sailing of ships and flying of planes, we emptied our reserves and sold them to China.

Another small question : How many of the parts for military equipment come from China ? Even their manufacturing isn’t up to full throttle . Check ” Monkey Werx ” data on ships just parked of the China coast that are a floating and not being used. Nothing to ship ? I have meandered enough I think. Time for coffee.

Price of Gold

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