355 votes

>Gold $1,308 Silver $20.75 Platinum $1,474 Palladium $877 Dollar 81.04

............♘ Daily Paul Metals Thread ♘ ............
Hidden Secrets Of Money
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Part 2 - Seven Stages Of Empire
Part 3 - Dollar Crisis To Golden Opportunity
Part 4 - The Biggest Scam In The History Of Mankind
Part 5 - TRUE History Of Money
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Gold Manipulation: The Logical Outcome Of Mainstream Economics
Gold Manipulation: How They Do It (And How To Hedge It)
Visualizing Platinum & Palladium's Place In The World
Gold & Silver, Ron Paul: THE TRUTH
Visualizing All The Silver In The World
Bitcoin: Rate Charts and Commodity Exchanges
Welcome to the Daily Paul Metals thread. This thread was designed to keep all metals questions and comments in one place. At over 19,000 posts, we try to keep the price of Metals in the headline as up to date as possible...but sometimes it can get away from us. Feel free to ask questions about (all) investing here...you will get an array of answers that will help you in your decisions. Remember...any investment can have loses or gains...If we knew exactly where the markets will be tomorrow or a year from now we would all be wealthy.......The people here have strong opinions one way or another, so... Do your own research and then decide if metals are good for you. Ron Paul is a firm believer in holding physical Gold and Silver. Many of us share that same view! Welcome!
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How Governments will confiscate your GOLD!!!
4 Must watch videos...NOTE:These videos give you a heads up of what is coming!
Madness of a Lost Society (in 4 parts)
The Day the Dollar died...
Gold $5000 and Silver $200 an ounce...

Rob McEwen: Your readers need to appreciate: Gold is money. It is currency. I think the number of people familiar with gold will grow as people see gold as a currency. China, India, Russia are buying gold to diversify their foreign reserves. To restore the confidence in currencies, I think some central banks, such as the Chinese and possibly the Russian, will increase their gold holdings to the level that the percentage of their total currency will be greater than that of any other currency in the world. At that point, they will assert that their currency should become the reserve currency of the world.
Full Read....
Inflation or Deflation....Metals win...
Why Deflation is good for Precious Metals:

Live Charts Here...
This thread was started 9/16/10 - here were the prices.

Submitted by SteveMT on Thu, 09/16/2010 - 11:51.

Metal Bid Ask
Gold $1,273.60
Silver $20.73
Platinum $1,602.50
Palladium $546.00

"Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves."
–Norm Franz, Money and Wealth in the New Millenium

Top Gold Goodies:
From Mark Twain: It links to one page for Options Expiration & another page for Futures Expiration. It is easy to save or print out for reference all year long. It is a handy reference identifying when US contracts expire for 2014.
This is where I watch it happen: http://www.goldseek.com
This is where I buy from: www.apmex.com:
A great read. Think and Stop Investing!
This is an incredible site for watching metals:
This site monitors all ebay metals prices.Check it out:
Jim Sinclair - a Great read everyday: http://jsmineset.com
Hard Core Gold site. Great reads: http://321gold.com

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SteveMT's picture

and of course a partial knock down this am...

as markets prepare to open.

However, the silver trend continues upward.

right on time. you can set

right on time. you can set your watch to it. lol.

It is time to get involved.

Everyone on DailyPaul should be checking locally into how to become a delegate. Also it is time to set some money aside to go to Republican rallies and route for Ron Paul. When Ron Paul walks out on stage at the 2012 Republican National Convention there should be an overwhelming majority of Ron Paul supporters in the audience.
Ron Paul is the only Republican candidate that can beat Obama.

A new video with all star cast

your favorite team.
Tyler Durden

The Sledge Report.

As I wade in, the bilge pump will be running.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

fireant's picture

Moriarty needs to give his brain a rest; he confuses himself.

No question, 600 trillion in derivatives sitting on bank's books, marked to fantasy, is the issue. His fatal flaw is to try and determine how it will be resolved. It is unknowable. I feel for the people who think they have the answer. If they are leaning in one direction because they are so sure, they will get wiped out if they are wrong. Better to prepare for any scenario.

Undo what Wilson did

☠ 600 Trillion: ♞ Not to be reckoned! ♞ Nor to be resolved! ☠

      ☠ 600 Trillion in Derivatives promised by Bookies☠

It is mythical in proportion & substance. Promises, promises... "Out of thin air."

♞ Fall Of Roman Empire! ♞ Mandates Broke Silver. 05/21/2011

☠ Central Banks Global Insanity Makes Scary Markets ☠ 05/18/2011

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

This is the exact reason I posted this article....

I wanted to get your response. There are 2 sides...and i am on the inflation side....in regards to commodities. Other Assets will deflate. Especially houses. With houses, and other luxury items we are witnessing a deflationary period. With people out of work...deflation is taking grip on homes, cars, boats, motor homes. If you want something nice and have cash....after you secure your PM's it is a nice time to buy whatever you dreamed about. I have a friend who just bought a $240,000 Lamborghini for $88,000 with 9000 miles on it. Drove it yesterday.....Wow!! This thing rips!!


a $240K Lambo, but now that the seller was only able to get $88K for it, it is an $88K Lambo. I would love to be there when somebody tries to tell the seller about our imminent hyperinflation.

There is a lesson in this. Something is only worth what you can get someone else to give you in exchange for it, and by the time this next wave of deflation is over, there will be many more bargains even better than this. Raise cash, because cash will be king.

next wave? I agree we will

next wave? I agree we will see things like this car and other non essentials become less expensive. But I will bet my bottom dollar there will be other services, products etc that become more expensive. I guess it is what you call deflation/inflation.

Duuuuuuuuude! That is a heck


That is a heck of a discount... But he'll end up spending an equal amount in repair bills. ;)

this is what people don't

this is what people don't understand.. with people out of work the government loses tax revenue. With people out of work the governments expenses go up. With China and Japan not buying our debt or loaning us money, the FED has to print money to pay its bills. That is inflation.

fireant's picture

If 600 trillion unwinds in a flash,

Ben won't be able to push the 0 button fast enough. If the banks start unraveling in Europe, the dollar could well have it's last hurrah. Gold will probably be pulled down with the crash, but I doubt for long.

Undo what Wilson did

they will print or monetize

they will print or monetize the debt before it happens. Remember, inflation just buys them time. In the end you will have a collapse. BUT the purchasing power of gold and silver will go up. The dollar will be toilet paper. The dollar will be destroyed as they try to delay the collapse.

They have spent trillions of dollars and it has not worked to get this economy going again. So what will they do? yep throw more money at it.

people will be tryinjg to

people will be tryinjg to trade their worthless paper for gold and silver. the price should jump.

600 trillion doesn't have to

600 trillion doesn't have to unwind in a flash. If even 30-50 trillion unwinds in a flash, the other 550-570 trillion becomes meaningless. The enormity of 20-30 trillion collapsing in short period of time would undo the entire credit system. And you are correct, the Fed and the IMF would at that point be fully ineffective, a complete loss of any control over anything.

Nobody would want to take your credit card, debit card, check for purchases. Banks would be in complete utter panic and likely freeze. Hard currency, those funny pieces of paper, would be in vogue and very valuable, for a while...

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

fireant's picture

Is it armor plated?

That's the only way I'd spend 88g on something to hold four tires on the road, lol.

Undo what Wilson did



You better watch what you

You better watch what you post there takeaction. Next thing you know you'll be saying the Deflationist were right all along...

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

I like to

present both sides of the coin.

Yes, only a fool would allow

Yes, only a fool would allow himself to be convinced of a arguement after hearing only one side of the debate, and then completely shut himself off from hearing the other side.

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

lol... silver to 2.00 an

lol... silver to 2.00 an ounce!

Hamilton Bolton

Deflation requires a precondition: a major societal buildup in the extension of credit (and its flip side, the assumption of debt)… Bank Credit and Elliott wave expert Hamilton Bolton… summarized his observations this way:

‘In reading a history of major depressions in the U.S. from 1830 on, I was impressed with the following:

(a) All were set off by a deflation of excess credit. This was the one factor in common.
(b) Sometimes the excess-of-credit situation seemed to last years before the bubble broke.
(c) Some outside event, such as a major failure, brought the thing to a head, but the signs were visible many months, and in some cases years, in advance.
(d) None was ever quite like the last, so that the public was always fooled thereby.
(e) Some panics occurred under great government surpluses of revenue (1837, for instance) and some under great government deficits.
(f) Credit is credit, whether non-self-liquidating or self-liquidating.
(g) Deflation of non-self-liquidating credit usually produces the greater slumps.’

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

and this is the elliot wave

and this is the elliot wave fatal flaw... I will let you figure it out.

Nothing stated in my post has

Nothing stated in my post has ANYTHING to do with Elliott Wave (other than the author was an Elliottician, AND a Bank Credit analyst). Therefore there is NOTHING there that is the "fatal flaw" of Elliott Wave, and your comment is a direct reflection of your complete ignorance of what Elliott wave is about, even though you love to throw critisism at Elliott wave whenever you can.

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

yes I do because it is well

yes I do because it is well deserved. What is funny is you have Prechter who has not been right once.. then you have Alph Fields who is an elliot wave theorist who has been right all along. I suggest you look up Alph and see where he says the price og gold and silver are going.

Yes there is a FATAL flaw.. and by yopur answer I can see you do not know what it is. Talk about ignorance.

So what is this "fatal flaw"?

So what is this "fatal flaw"? I'm guessing, coming from you, that you think this fatal flaw is that all the depressions he analyzed occured under a Gold Standard.

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence

is gold inflationary or

is gold inflationary or deflationary?

I take it from your question

I take it from your question that the answer is yes, the "fatal flaw" is that in all past depressions we were on a Gold standard.

Gold itself is NEITHER inflationary or deflationary. If on a gold currency fully backed, with no credit, then the simple laws of supply and demand would rule. If a sudden increase in the gold supply is discovered, then gold's value would fall and prices on goods would rise. If no additional gold was added to the system and the population increased then gold's value would rise and prices on goods would fall. But...

Currency (gold or funny pieces of paper) is money.
Credit is money.
But Currency is not credit and credit is not currency. These are 2 different kinds of "money".

Gold is not limiting toward credit created in and of itself. Man may make a law that banks must retain a 20% reserve of gold, thereby limiting credit expansion (inflation). But when that limit is reached and there is some crisis that prevents the repayment of the principal and/OR the interest, then Man must make a decision. Suffer economic depression, OR change the rules. Gold only limits the amount of credit insomuch as man restrains HIMSELF from changing the rules. Man may at that point change the reserve requirement to 10%. And that is EXACTLY how we got to where we are, by incrementally changing the reserve requirement until we are on a Gold Standard with 0% reserve requirement.

In 1929, PART of the money supply was backed by Gold. There were 2 currencies competing with each other. The US Note and the Federal Reserve Note. The US Note was backed by Gold and LIMITED to $600 million in circulation. The FRN was fractionally backed by gold BUT unlimited in quantity that could be issued. In the Federal Reserve Act we read in the first sentence of the Act that its purpose was to establish an "elastic currency". This is yiddish for "unlimited credit".

There is no difference (in reference to Hamilton Bolton's research) in having a gold standard and fiat. The "Gold Standard" is the backing of the CURRENCY. Credit is, and ALWAYS has been, back by the borrower's ability to repay. Credit has never been backed by Gold It may be required as COLLATERAL, but it is still the borrower's ability to repay that backs the credit. It is backed by your credit score, or a government's credit rating. Currency and credit are 2 different things. Bolton expresses that deflation of the CREDIT excess sets off the depression. Today we do not have an excess of currency, we have a MAJOR excess(inflation) of CREDIT(outstanding debt/obligations).

In the past, under a Gold standard, when the "limit" was reached (no more credit could be created due to reserve limits) Man has opted to allow collapse instead of changing the rules. Today there really is no option other than to continue to inflate UNTIL it collapses. The reason for collapse is simply the lack of confidence in the borrower's "ability to repay". And so without further CREDIT EXPANSION (inflation) the whole system begins to implode. Prices are NOT inflation, they are a reflection of inflation and most important, PRICES LAG INFLATION/DEFLATION. Investments LOOK FORWARD of inflation/deflation. An investor buys/sells something expecting it to increase/decrease in the FUTURE. Markets look forward to what is expected, prices look backward at what has already happened.

"Ehhh, What's ups Doc?" B.Bunny "Scwewy Wabbit!"E. Fudd
People's Awareness Coalition: Deprogramming Sequence