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So the real gold market continues to be very strong and at some point the paper gold market will be exposed for what it is; worthless paper with no gold backing. I can understand that investors who entered the gold market in the $1,600 to $1,900 range might feel a little bit uncomfortable at these levels.
Gold paper just won't cut it at this juncture. The miners are shorting their own stocks and this could go on for another few months but let me tell you, the junior producers will 'splode as well but you have to be patient.
NEW YORK — The next big step in the gold standard debate is going to be taken next month at Washington, when one of the original members of the Reagan-era United States Gold Commission offers a five-step plan to return America to sound money.
The total number of gold oz standing in this delivery month of December is absolutely outstanding: 1,655,400 oz (served) + 334,700 oz (to be served) = 1,990,100 oz or 61.9 tonnes. If you combine the 1.77 tonnes of November we have 63.67 tonnes of gold standing or 62% of the registered gold inventory.
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In 1980's gold went to $850 and silver to $50 USD, the AUD was around 1USD to 0.87AUD and averaged around 1:1.10 throughout 1980's. The average home was 77,000AUD or 85,000USD. So to buy this house you required... 100 oz GOLD or 1700 oz SILVER Today the exchange rate is USD1.00 : 1.16AUD. The average price in Sydney is now 600,000AUD or 510,000USD
The two main pillars of the economy, their saving rate and exports are both collapsing, and Japan is openly planning to borrow 49% of their budget to get by through the coming year. A substantial amount more is hidden off the books, and Japan is likely to borrow over 60% of its budget in 2012.
here is my list, in no particular order about signs that will happen or stats that will show up, for me to be convinced the bull run is over, and gold is topping out and i should sell. 1.) The GOLD DOW Ratio is 1-1 or close to 1-1, as in Gold $8,000, DOW 8,000 points. It reached 1-1 in 1980, that was the only time the Gold DOW ratio was this low.
I wasn't alive during the last gold standard so this is only from my research. I also don't know the answer so I'm not looking to make a point I'm looking for answers. From what I understand there are 8000 claimed US tons of gold that they have. Which is 233 Million TOunces. There are also 125 Million houses in the states.