Gold collapsing. Bitcoin UP.

[oakpacific]

http://silverdoctors.com/gold-run-there-is-not-one-single-ounce-of-gold-available-for-sale-in-bangkok/

April 7, 2013.

would you put it past a goldbug 100% invested in pm's to start rumors?

I dare them to put the entire Thai M1 on table and it would not be enough to stop the gold price from falling.

Oh yes, the whole Asia is buying but who cares? Who do you think pushed the gold price to the current level? It's not us.

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[cypherdoc]

GPL not doing what it's supposed to.  new low:

[tvbcof]

http://silverdoctors.com/gold-run-there-is-not-one-single-ounce-of-gold-available-for-sale-in-bangkok/

April 7, 2013.

would you put it past a goldbug 100% invested in pm's to start rumors?

That suspicion would not have an element of projection at is base would it?

[miscreanity]

The guy saying he can't find gold bullion being sold in Bangkok by the ounce might be true.

We sell gold here in the unit called a "baht" it is just less than 1/2 a troy oz.

also 99.9% of the gold sold here is jewellery or small gold objects.

i could find 10,000,000 million dollars worth of gold in bkk in 30 mins.  that guy is just misleading.

I'd be curious as to a firsthand dealer experience, preferably recorded with video, or at least audio. The rapidity in which circumstances can change may be surprising. Store shelves get cleared out suddenly when an emergency situation arises, and this is a man-made emergency.

[Operatr]

Meanwhile, Bitcoin's price is starting to rise again 

[rpietila]

The guy saying he can't find gold bullion being sold in Bangkok by the ounce might be true.

We sell gold here in the unit called a "baht" it is just less than 1/2 a troy oz.

also 99.9% of the gold sold here is jewellery or small gold objects.

i could find 10,000,000 million dollars worth of gold in bkk in 30 mins.  that guy is just misleading.

You are right. Most of the analysts speak from that side of the mouth that gives them the best bonuses.

Besides, buying physical silver in any form, scrap ok is the thing, if you can get it at spot. Buying gold - not so good right now.

[thezerg]

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 162.83.  Gold is 1425.00.  Nasdaq is 3261.00
Bitcoin: 2915.37%
Gold:    -15.68%
Nasdaq:  6.74%
Gold Diff:  3476% advantage Bitcoin and Growing
Nasdaq Diff:  2725% advantage Bitcoin and Growing[/b][/size]

[cypherdoc]

the silverbox update (comparison from the beginning of this thread, March 13th, 2012, gold=1690, nasdaq=3055, Bitcoin=5.4):
Bitcoin is 162.83.  Gold is 1425.00.  Nasdaq is 3261.00
Bitcoin: 2915.37%
Gold:    -15.68%
Nasdaq:  6.74%
Gold Diff:  3476% advantage Bitcoin and Growing
Nasdaq Diff:  2725% advantage Bitcoin and Growing[/b][/size]

that's a big number.

[El Dude]

gold and silver have been money for the last 3000 + years

[Adrian-x]

gold and silver have been money for the last 3000 + years

So you are thinking the transition is happening at lighting speed, or are you saying it isn't happening because of the weighted average?

[rpietila]

Besides, buying physical silver in any form, scrap ok is the thing, if you can get it at spot. Buying gold - not so good right now.

Silver is not at all a thing here. I only know two places to get it and thais dont care about it at all.

I am nearly always interested in buying physical silver at below LBMA. Sometimes I want to accumulate at the "standard" premium of 5-10%. Now is this time, since spot is crashed, and street price of 90% coin is 30% over. The arbitrage if you buy .999 silver at spot and sell 90% for 30% profit is glaring.

There is 100,000oz+ 90% silver in Silvervault, which has been accumulated for this very day that allows us to swap it to .999 for a nice gain (10,000-20,000 oz).

Too bad I am too busy to do much about it. But if you want to buy at dealer ask (spot+30%), it is there for grabs. If you want to sell silver at spot, just call me and arrange for the delivery to Northern EU, I can also buy silver in any form anywhere, PM me. If you have paper silver to sell at BELOW spot, PM me.

I can pay fiat, gold, bitcoin.

[rpietila]

Besides, buying physical silver in any form, scrap ok is the thing, if you can get it at spot. Buying gold - not so good right now.

Silver is not at all a thing here. I only know two places to get it and thais dont care about it at all.

I am nearly always interested in buying physical silver at below LBMA. Sometimes I want to accumulate at the "standard" premium of 5-10%. Now is this time, since spot is crashed, and street price of 90% coin is 30% over. The arbitrage if you buy .999 silver at spot and sell 90% for 30% profit is glaring.

There is 100,000oz+ 90% silver in Silvervault, which has been accumulated for this very day that allows us to swap it to .999 for a nice gain (10,000-20,000 oz).

Too bad I am too busy to do much about it. But if you want to buy at dealer ask (spot+30%), it is there for grabs. If you want to sell silver at spot, just call me and arrange for the delivery to Northern EU, I can also buy silver in any form anywhere, PM me. If you have paper silver to sell at BELOW spot, PM me.

I can pay fiat, gold, bitcoin.

2,000oz minimum.

[MatthewLM]

Andrew Maguire on the Keiser Report: http://youtu.be/VVdHsAWDrAk?t=13m40s

[oakpacific]

So I wandered about a bit on the street yesterday and noticed something unusual: not just people lining up to buy gold, but also the banks(most of them state-run, for the small town I am living in) are actively trying to attract people to do so, something the government here usually discourages, by scrolling the gold price across the outdoor LED signs, as if they can't wait to get rid of these golds.

I smell a trap...

[oakpacific]

So I wandered about a bit on the street yesterday and noticed something unusual: not just people lining up to buy gold, but also the banks(most of them state-run, for the small town I am living in) are actively trying to attract people to do so, something the government here usually discourages, by scrolling the gold price across the outdoor LED signs, as if they can't wait to get rid of these golds.

I smell a trap...

I think it is going down more as well. You are in china right?

The thais bought some but tons and tons left on the walls. Gold is still pretty high if the ptb dump it. We are still almost 500 percent up since i bought in. I hope we get under 800 and then i will buy more. Hell i will even buy paper silver under 13.

Yes, and I think you are right.

What both of our experiences confirm is that there is more than enough supply.

[cypherdoc]

the nastiness is beginning once again...

[oakpacific]

the nastiness is beginning once again...

Pity I can't convince my fellows that the banks would not be so kind to them....

[miscreanity]

Yes, and I think you are right.

What both of our experiences confirm is that there is more than enough supply.

I highly doubt this is a simple pump and dump; wealth accumulation does little when market saturation has been achieved. A power play is much more probable.

The west is debt-ridden and in a very weak position. Gold and other real assets have been flowing east for a decade. This is a time to strike against that off-balance opponent.

That strike involves increasing the pressure, and is most effectively done by psychologically prepping domestic citizenry and then enlisting their efforts. It's effectively an all-out assault in a financial war.

Central gold demand has softened the west by extracting wealth in the form of gold, and now the masses are delivering the final blow via accelerating that flow.

[miscreanity]

In this day, gold simply can not compete in the arena of liquidity, and this has been a problem for a very long time. It is how we got to fractionalized gold in the first place. Trying to hold onto the primacy of gold as a common meaning to inform risk management is a bit like informing your military strategy around siege warfare.   

This seems to be out of context with my last post. I was making an observation on the use of gold as an economic weapon similar to how the west utilizes sanctions within the fiat system.

Liquidity is not a problem for gold when it is used for what it is best suited. Your statement is like suggesting cars are worthless without highways while dismissing the rest of the roadway infrastructure. Monetary gold is a tank that is best used off-road.

To reply on the philosophical aspect, I've posted numerous times on the inevitability of cryptocurrencies and other constructs over monetary metals. As far as I can tell, everyone in this thread agrees on that eventual ascendancy. The issues seem to lie in how the transition will occur. There appears to be an either-or mindset from most regarding gold, which I do not find realistic.

The way I see things, fiat in its current state is dead. Gold is not, and has a major part to play in the transition. Movement toward crypto is a virtually guaranteed process with several critical variables.

[manfred]

The way I see things, fiat in its current state is dead. Gold is not, and has a major part to play in the transition. Movement toward crypto is a virtually guaranteed process with several critical variables.

+1, but Gold will be dead in 20 years time too (massive rise in the short/medium term, then slowly declining to about what silver is nowadays)