ManAboutDallas

Gold, Oil Majors Revisited

The mechanism is still in its evolution stage, but actually you CAN "spend" your physical gold using sites such as GoldMoney. The obvious restraint, of course, is that your counter-party has to have a GM account, as well.

The minute someone figures out how to tie a debit card to an account such as GM or one of the similar entities, using the current ATM network, and assuring the validity of the funds, front-to-back, your rhetorical question becomes moot.


On Nov 29 09:38 AM long_on_oil wrote:

> Lets assume the crash has happened and you are holding 50 ounces
> of gold. How are you going to use that gold to pay for a tank of
> gas or a haircut? You will have to convert it to a very small denomination
> that will be accepted by the merchant. You aren't going to shave
> off 2 grams to pay for that tank of gas.
> If you have gold you better buy guns and ammo to protect yourself
> because once the word gets out you will be paying for a funeral.
>
> True gold will be oil and food, two things you can't live without.
>
> In order to restore faith and trust in the currency the government
> will have to back it with an item that is limited in supply like
> Gold. So public ownership of gold will once again be illegal and
> the government will confiscate all of it by issuing new currency
> that will be used to purchase your gold. And the whole process starts
> all over again.

Gold, Oil Majors Revisited

Why aren't the oil majors buying gold ? Well, Mr. Mayer, just follow those almost-invisible strings attached to the BoD and management of said oil majors, "Trace" them if you will, ( sorry, that was just too good a pun to pass up ) all the way to the PuppetMeisters pulling those strings, and you'll have your answer.

One thing I find intriguing in the current Gold Chess Game is Hong Kong's recent dis-diaspora of its gold, calling it home from the UK and into the new vault there at or near Hong Kong Airport.

Aside from now having it safely "home" I wonder if the Chinese are about to conduct a little experiment in gold-backing by pegging the Hong Kong Dollar to that now-restored gold, a sort of 21st Century Currency Laboratory, if you will. They could conduct this little experiment with the Hong Kong Dollar, watch what happens, and use it as a "stalking horse" of sorts for the Yuan.

Dr. Stephen Leeb on Commodities and Inflation - Is He a Genius or Alarmist?

[G]enius "or" alarmist ? Why must there be the implied choice? Is a genius incapable of also being an alarmist ? And vice-versa ? The real, salient question, however, is: Which of Dr. Leeb's premises are correct, and which are not ?

Your discussion of the "BRAC" countries is incomplete without the inclusion of New Zealand. It lives and labours in the shadow of neighbouring Australia, and is thus - unfairly - relegated to afterthought status when it is not deserving of such. But it is poised to enjoy the same good fortune as Great Britain did in the 70's and 80's when its vast hydrocarbon deposits are exploited over the next several decades.