North Korea News

[Smitty-48]

Even if we went back to the gold standard, the flight to quality would be to America then as well, America would be flooded with gold, because America would be the safest place to stash it. The relative transparency and rule of law is the basis of American power, going back to gold wouldn't change that.

Hyperinflation is pure balderdash, in the event of King Gold again, you'd still have to buy your gold in US dollars, the US dollah would be as good as gold, because the whole world would be parking their gold, where again? China? No chance, it would all be going to America.

The Chinese who have gold now, are parking it in America, they can't get their gold out of China fast enough.

First of all, if we went to the Gold Standard now, we'd either have to revalue gold at $20,000/oz, or revalue the dollar drastically lower.

Not sure why you think other countries need to "park their gold" anywhere. The Swiss, Indians, and Chinese have bigger gold reserves than anyone. They have no reason to move it overseas.

It's not about countries parking their gold in America, in the event of a gold standard again, the market would buy gold in US dollars, then they would have to stash it somewhere, and they're not going to stash it in India or China, US banks would be flooded with gold, because that is where the masses would stash their gold. The wealthy would not be parking their gold with Beijing, the wealthy in China wouldn't do that, never mind the rest of the world.

Seriously, Grumpy, you fancy yourself to be an expert on this, but you really have no idea what you're talking about, prolly cause you get your information from Zerohedge and other internet clickbait sites.

[heydaralon]

10 WAYS CHINA WILL TAKE OVER THE US IN 2018




Number 7 Will Surprise You

[SuburbanFarmer]

Even if we went back to the gold standard, the flight to quality would be to America then as well, America would be flooded with gold, because America would be the safest place to stash it. The relative transparency and rule of law is the basis of American power, going back to gold wouldn't change that.

Hyperinflation is pure balderdash, in the event of King Gold again, you'd still have to buy your gold in US dollars, the US dollah would be as good as gold, because the whole world would be parking their gold, where again? China? No chance, it would all be going to America.

The Chinese who have gold now, are parking it in America, they can't get their gold out of China fast enough.

First of all, if we went to the Gold Standard now, we'd either have to revalue gold at $20,000/oz, or revalue the dollar drastically lower.

Not sure why you think other countries need to "park their gold" anywhere. The Swiss, Indians, and Chinese have bigger gold reserves than anyone. They have no reason to move it overseas.

It's not about countries parking their gold in America, in the event of a gold standard again, the market would buy gold in US dollars, then they would have to stash it somewhere, and they're not going to stash it in India or China, US banks would be flooded with gold, because that is where the masses would stash their gold. The wealthy would not be parking their gold with Beijing, the wealthy in China wouldn't do that, never mind the rest of the world.

Seriously, Grumpy, you fancy yourself to be an expert on this, but you really have no idea what you're talking about, prolly cause you get your information from Zerohedge and other internet clickbait sites.

No expert, no. But I do have a strong interest in it.

I'm not sure what on earth you're talking about though. The Gold Standard is now impossible in America, unless it were to occur at the bottom of a massive Depression. The revaluation would be extreme from here.

I think you're talking about 'paper gold', or futures or something. There's no reason to "stash" physical gold anywhere except maybe a safe-deposit box. That doesn't benefit the bank whatsoever, except for their little monthly fee.

[SuburbanFarmer]

10 WAYS CHINA WILL TAKE OVER THE US IN 2018




Number 7 Will Surprise You

Yeah, it's a bit panic-monkey. Luckily, I'm not blindly drawn in by every headline, like some vacant-eyed guppy.

If you employ a little critical reading, you can fish out the truly interesting bits from there, that aren't going to be on NBC anytime soon.

[skankhunt42]

So, maybe this forum knows best. I'm 33, I wasn't old enough to remember the Cold War, although the year I was born I guess was hot. What are the odds that we actually have a Nuclear war with North Korea? Is it just me or is a war with North Korea a lock for Trump to be re-elected?

Sorry to be nefarious, but I'm freaked out about the possibilities of 2018 being a potentially awful time for the world at large.

[SuburbanFarmer]

So, maybe this forum knows best. I'm 33, I wasn't old enough to remember the Cold War, although the year I was born I guess was hot. What are the odds that we actually have a Nuclear war with North Korea? Is it just me or is a war with North Korea a lock for Trump to be re-elected?

Sorry to be nefarious, but I'm freaked out about the possibilities of 2018 being a potentially awful time for the world at large.

3:1 nuclear war, I'd say. Even odds on conventional WW3. It's getting toasty out there.

I don't think anyone's going to care much about elections, if it goes that way though. We'll be under martial law and fighting for survival.

[Smitty-48]

No expert, no. But I do have a strong interest in it.

I'm not sure what on earth you're talking about though. The Gold Standard is now impossible in America, unless it were to occur at the bottom of a massive Depression. The revaluation would be extreme from here.

I think you're talking about 'paper gold', or futures or something. There's no reason to "stash" physical gold anywhere except maybe a safe-deposit box. That doesn't benefit the bank whatsoever, except for their little monthly fee.

Someone doesn't have to be an expert to debunk your SIFCLFtardation. The US dollar is just an electronic IOU to spend your money in America or around the world by transferring the ability to do so, the power is in the transparency and rule of law in America, the power of American property rights, the power of doing business in America where it is safe and reliable to do so.

The US banks would be flooded with deposits in gold, same way they are with cash, and that gold would be at their disposal, same way it is with cash, they would simply continue to pay in cash, backed up by the gold that they were holding in deposit, there's no change, the US dollar is still the US dollar, and it would still be the best way to move the wealth around, backed by gold or otherwise.

Banks don't hold your money for free, the deal is, they pay you interest, and in return they get to use your money, they would just start paying you to park gold in their bank, in America, where it's safe, and in return your gold is at their disposal until you come to collect it.

That's how it was when there was a gold standard, the US dollar was as good as gold, because America was the place where people parked their gold. You can't wire transfer gold around, the gold would stay in the bank, the money would be transferred in US dollars from the banks which were holding the gold.

Nobody would put their gold in China, or India, or Russia, to do business there, you would pay in US dollars, backed by your gold which was stashed in America, nobody is going to trust their gold deposits to a Chinese Communist bank, I mean get real.

[Smitty-48]

And whatever the American banks were paying you to put your gold at their disposal, that would be your interest rate, so it's a double incentive, you park your gold in America where it is safe, you take US dollars in interest for that gold, to make returns on it, you're not making jack shit on that gold if you just put in your safe, you might keep some gold in your safe, but most of it you would put in the bank so it could earn interest for you.

Rich people want their money to make money for them, they're not putting it in a safety deposit box, it would go into the bank vault, and the mechanism of transferring it around from there, would be US dollars from US banks, same as it ever was.

If you've got a hundred million worth of gold, you still need it to make returns for you, you still need to move it to spend it, to invest it, to transfer it to other rich people, you can't do that from a safety deposit box.

What do you think, the rich people would be driving around in armored cars with their gold? No guy, the bank does that for them.

It's all about liquidity, the bank makes it liquid, if it's not liquid, you can't move it, can't move it, it's no good to you.

You might have some gold in hand, but you're not going to have a hundred million dollars sitting in your matress doing nothing for you, it's not safe there, it's not liquid there, not gonna happen.

[Speaker to Animals]

Your gold is safe in your personal safe. At home. Parking your gold in a foreign nation is not called safety.

[Smitty-48]

Your gold is safe in your personal safe. At home. Parking your gold in a foreign nation is not called safety.

Your gold would not be safe in your safe, if you were rich.

If you were rich, holding your gold in your home would be the stupidest thing you could do, home invasion, anyone?

Never mind that's it not liquid sitting in your safe.

Your concept of gold is the poor person's concept of gold, the rich do not operate like you do.