Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Latest comments
 
user4779 - 7/3/2015 at 10:00 PM GMT
Profile not specifiedcheck his comments (35)
 Man Grabbed, Crushed to Death By Factory Robot: “This is Just the Start… Machines Will Take Over Our Lives”
 - Mac Slavo - ShtfPlan
The "lump of labour" fallacy raises its tired old head yet again, mixed in with B-movie-style sci-fi speculation about a terrible robotic future world. Anyone who doesn't like machines doing manual work can make a start by throwing out their washing machine. As for machines killing people, already 100 people a day are killed by machines---the majority of them motor vehicles. Fully automatic vehicles will not gain acceptance unless they can prove a safety record better than the the present ones. 
Read this articleReply
 
overtheedge - 7/3/2015 at 7:49 PM GMT
Profile not specifiedcheck his comments (598)
 Max Keiser Interviews GoldCore’s Mark O’Byrne
 - Mark O'Byrne - gold.ie
"The IMF said that Greece requires additional bailout funds of around 50 billion euros until 2018 under the current bailout conditions, and slashed its Greek growth prospects for 2015 to zero from 2.5 percent."

This is the one item that should that should cause your bowels to cut loose.
The people have no money, they are limited on withdrawals (past productivity).
By the same token, business funds are limited.
And the IMF states no growth, but somehow the Greek economy will break even for the year?
Obviously the Greeks need to severely limit themselves on the critical consumables such as food, water and medicine.

If there is no money, there can be no production.
No production, nothing to sell, ergo no income.
Perhaps the IMF... 
Read this articleReply
 
end - 7/3/2015 at 9:58 AM GMT
Profile not specifiedcheck his comments (42)
 Greece’s referendum
 - Alasdair Macleod - Finance and Eco.
"History may judge him instead to have played a poor hand very well indeed."

I'm quite sure both Macleod and Varoufakis will be quite disappointed on Monday, and I'll happily nominate Greek nation here http://www.darwinawards.com/.

This thing cannot be stopped by any European or Western nation. They are all more the problem than the solution.
 
Read this articleReply
 
glasstiger - 7/2/2015 at 6:08 PM GMT
Profile not specifiedcheck his comments (60)
 Gold Daily and Silver Weekly Charts - Non-Farm Payrolls Tomorrow -
 - Jesse - Le Cafe Américain
Jesse, you use the term "could care less" frequently.
Is this American speak for "couldn't care less"?
Similar I suppose to the ubiquitous US double negative.

Your articles are terrific. Honest and true. 
Read this articleReply
 
user4779 - 7/2/2015 at 9:02 AM GMT
Profile not specifiedcheck his comments (35)
 One more book, Mr. Stockman
 - George F. Smith - Barbarous Relic
While it is true that "[Gold standards] were abused, suspended, and ultimately abandoned in favor of a currency that central banks could inflate at will", it's worth recalling that the British gold standard, introduced (unofficially) in 1717, survived almost 200 years, until the catastrophic losses of the first world war induced the British government to suspend and ultimately renege on it. In that period, we had all the convenience of banknotes which were "as good as gold". Gold coins are of limited practicality as currency, because they are subject to wear, easily dented or bent, and too valuable for everyday transactions. People will continue to use fiat currency, in its electronic and paper forms, because of its great convenience, despite its inflationary abuse b... 
Read this articleReply
  0  1  Rating :  -1 
 
overtheedge - 6/30/2015 at 9:23 PM GMT
Profile not specifiedcheck his comments (598)
 Panicked Hedge Funds Now Praying for a Miracle in Greece
 - Wolf Richter - 
"... and the silly game theory ..."

Obviously you have no knowledge of game theory and its applications. Otherwise you wouldn't have used the above term.
 
Read this articleReply
  1  0  Rating :  1 
 
user4779 - 6/30/2015 at 6:48 PM GMT
Profile not specifiedcheck his comments (35)
 The Gold Standard: Generator & Protector Of Jobs  (12)
 - Hugo Salinas Price - plata.com.mx
Is it really so bad for Americans that they do not spend their lives labouring on a production line to make mass-produced goods, and have left this task to the Chinese? Do you envy those Chinese workers? Not me! And surely it is good that (what is now) 2 billion people (who happen to be Asians) have escaped from grinding poverty, albeit not all into wealth by Western standards. Free trade has been of immense benefit to the world.

The issue of the basis of money is orthogonal to that of free trade. I'm sure that the Chinese would be delighted to work in Western-financed factories if they were paid in gold or silver rather than fiat. And perhaps (I believe probably) the global economy would have grown faster than it did if the currencies were based on metal.  
Read this articleReply
 
overtheedge - 6/29/2015 at 10:07 PM GMT
Profile not specifiedcheck his comments (598)
 The euro crisis
 - Alasdair Macleod - Finance and Eco.
"There is no immediate benefit from debating why."
Debate? That would be like debating whether or not gravity exists.
You stated the obvious why, so debate is unnecessary.

"This week should see the dollar strong against the euro and the euro price of gold can be expected to rise. "
Maybe and probably.
Keep in mind the US financial system's exposure to the Euro.
Counter-party risk is usually a hidden feature and documentation can be quite sparse.

I keep hearing that Bobby McFarrin song, "Don't worry, be happy" playing in the background.
 
Read this articleReply
  1  0  Rating :  1 
 
overtheedge - 6/29/2015 at 5:57 PM GMT
Profile not specifiedcheck his comments (598)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
It would appear that we share the same conclusion.
A few sealed cans of kerosene might be handy as well.
Thumbs up sir.
 
Read this articleReply
Answer To :S W. - 6/29/2015 at 11:06 AM GMT
My main sentiment here is why swap dollars for gold or silver only to sell at some later date for more dollars when that same paper is continually being devalued.
Both these PM's will go no offer one day and then we will all see their true value.
 
S W. - 6/29/2015 at 9:06 AM GMT
Profile not specifiedcheck his comments (430)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
My main sentiment here is why swap dollars for gold or silver only to sell at some later date for more dollars when that same paper is continually being devalued.
Both these PM's will go no offer one day and then we will all see their true value. 
Read this articleReply
  1  0  Rating :  1 
Answer To :overtheedge - 6/28/2015 at 11:33 PM GMT
Well, gotta admit that there is a problem if a person tries to play silver as both an investment and as an insurance policy.
I would suggest that anyone trying to play both is gonna get beat down repeatedly.

Then each has to admit that everyone entering any market, where the price isn't fixed, is in fact attempting to manipulate the market in their own behalf. The smaller the player, the less effect they have. A major player with deep pockets can usually meet their own margin calls. Ergo they can make bundles while the smaller players often get margin called into penury.

We also have the problem of tail wagging the dog. The concept that paper sets the prices for physical is ridiculous, but that is just the way it is. So in a way, Mr. Butler is c...
 
overtheedge - 6/28/2015 at 9:33 PM GMT
Profile not specifiedcheck his comments (598)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
Well, gotta admit that there is a problem if a person tries to play silver as both an investment and as an insurance policy.
I would suggest that anyone trying to play both is gonna get beat down repeatedly.

Then each has to admit that everyone entering any market, where the price isn't fixed, is in fact attempting to manipulate the market in their own behalf. The smaller the player, the less effect they have. A major player with deep pockets can usually meet their own margin calls. Ergo they can make bundles while the smaller players often get margin called into penury.

We also have the problem of tail wagging the dog. The concept that paper sets the prices for physical is ridiculous, but that is just the way it is. So in a way, Mr. Butler is c... 
Read this articleReply
  1  0  Rating :  1 
Answer To :S W. - 6/27/2015 at 11:56 PM GMT
Fair call, overtheedge.
I've given Butler short shrift several times.
Fancy spending 30 yrs analysing the silver market likely believing Ag is a good investment and or insurance,and as far as I know never telling anyone to sell when the price of the stuff has been going down for 4 years.
Same for gold.
However, for mine it is easier to store, sell and transport as well as being better insurance and a far more likely better investment because it is purely monetary.

An up arrow for your comment.
 
S W. - 6/27/2015 at 9:56 PM GMT
Profile not specifiedcheck his comments (430)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
Fair call, overtheedge.
I've given Butler short shrift several times.
Fancy spending 30 yrs analysing the silver market likely believing Ag is a good investment and or insurance,and as far as I know never telling anyone to sell when the price of the stuff has been going down for 4 years.
Same for gold.
However, for mine it is easier to store, sell and transport as well as being better insurance and a far more likely better investment because it is purely monetary.

An up arrow for your comment.
 
Read this articleReply
Answer To :overtheedge - 6/27/2015 at 4:24 AM GMT
C'mon SW. Using the storage and transport issue you have tossed out would hold true for most all commodities; iron ore, wheat, pork bellies, oil, etc.
All of them are far more bulky than silver and have their own storage and transportation requirements.
6.6 tonnes and 0.63 cubic meters for the silver is easy to store and transport comparatively speaking.
Security is cheap compared to the $5 million paid for it.

I would argue that if silver is exclusively a monetary metal, then it isn't an investment (good or not) but rather it is insurance.
However if silver is considered as an industrial metal, then it certainly could be a lucrative investment in the long term.
If silver is considered as both, it could get interesting in the years to co...
 
overtheedge - 6/27/2015 at 2:24 AM GMT
Profile not specifiedcheck his comments (598)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
C'mon SW. Using the storage and transport issue you have tossed out would hold true for most all commodities; iron ore, wheat, pork bellies, oil, etc.
All of them are far more bulky than silver and have their own storage and transportation requirements.
6.6 tonnes and 0.63 cubic meters for the silver is easy to store and transport comparatively speaking.
Security is cheap compared to the $5 million paid for it.

I would argue that if silver is exclusively a monetary metal, then it isn't an investment (good or not) but rather it is insurance.
However if silver is considered as an industrial metal, then it certainly could be a lucrative investment in the long term.
If silver is considered as both, it could get interesting in the years to co... 
Read this articleReply
  1  0  Rating :  1 
 
Doom - 6/26/2015 at 2:33 AM GMT
Profile not specifiedcheck his comments (47)
 Americans Have No Idea that the United States is on the Brink  (3)
 - Chris Vermeulen - GoldandOilGuy
Um, is there a parapgraph or two missing here? 
Read this articleReply
 
S W. - 6/22/2015 at 9:15 PM GMT
Profile not specifiedcheck his comments (430)
 The Ultimate Confirmation  (4)
 - Theodore Butler - Butler Research
This is the ultimate confirmation for Ted.
Silver is not a good investment, for this simple reason.
$5m where i live can buy about 100 x1 kilo bars of gold.
or it can buy 6,666 x 1 kilo bars of silver.
It is not easy to store or transport. 
Read this articleReply
  1  2  Rating :  -1 
 
sneezy67 - 6/20/2015 at 4:13 AM GMT
Profile not specifiedcheck his comments (29)
 Koans to Reflect Upon
 - Peter McKenzie-Brown - Language Instinct
Might as well have something to giggle and snort about in this age of financial turmoil. 
Read this articleReply
 
M. - 6/18/2015 at 1:04 PM GMT
Profile not specifiedcheck his comments (46)
 The Single Most Important Chart of the Last Century
 - Phoenix Capital - Gains Pains & Capital
Maybe, but a bit simplistic. I think there are other forces at play here. 
Read this articleReply
 
overtheedge - 6/16/2015 at 6:21 PM GMT
Profile not specifiedcheck his comments (598)
 Gold Bullion Worth $1 Billion To Be “Repatriated” From NY Fed To New Texas Bullion Depository
 - Mark O'Byrne - gold.ie
The Federal government claims supremacy over the states. This got its main arguments from the outcome of the Civil War.
The rights supposedly guaranteed by the first 10 amendments to the Constitution are routinely violated.
It has been a long tradition of the US Supreme Court to avoid at all costs making any rulings on Constitutionality.
Imagine the legal messes rulings on Constitutionality would have. Myriads of laws gone bad, retrials, perhaps even emptying jails.

So,
#1 Texas hasn't a depository as yet.
#2 Texas hasn't taken delivery. Can we spell re-hypothecated? How about a Federal Injunction?
#3 The US beat the Confederacy once already. Could Texas count on South Carolina, Georgia or Arkansas to help? Missouri, maybe.
#4 ... 
Read this articleReply
  1  0  Rating :  1 
 
overtheedge - 6/15/2015 at 6:34 PM GMT
Profile not specifiedcheck his comments (598)
 Bond Bombshell...  (3)
 - Clive Maund - 
"All this looks set to happen with a rapidity that will surprise many people and catch them off guard, particularly those who complacently assume that the long uptrend in many stockmarkets is set to continue forever. "

"Our tactics therefore involve 2 main planks - cash: the US dollar, and bear ETFs, in bonds on any bounce and in stocks immediately. "

"We hold off buying the Precious Metals sector until this last takedown has run its course, which will likely see gold drop to the $850 - $1000 area and silver to about $10."
---------
Let's see. Rapidity, bear ETFs and wait until after the last PM take-down runs its course.
What could go wrong?
The bear ETFs have me a mite concerned.
Paid with what and worth what?

It see... 
Read this articleReply
  2  0  Rating :  2 
 
overtheedge - 6/14/2015 at 4:34 PM GMT
Profile not specifiedcheck his comments (598)
 Silver Dollar  (3)
 - FOFOA - FoFOA
The problem with belief systems is the absolute requirement that any and all conflicting evidence must be discounted, ridiculed and rejected.

Currently silver is predominantly an industrial metal.
Using the same analysis, gold is just an ornamental metal.
Some banks may hold gold, but they also hold a bunch of really marginal paper claim checks.

However our limited historical recollections only go back a few years.
For many tens of centuries, silver was a monetary metal.
Silver and copper were the coin of typical commerce.
Gold was used for large transactions.

It is easy to forget that during a major economic upheaval, large scale base metal mining will cease.
In fact, all mining ventures larger artisanal mining will... 
Read this articleReply
  4  1  Rating :  3 
 
neville - 6/12/2015 at 3:14 PM GMT
Profile not specifiedcheck his comments (43)
 The fallacies of GDP
 - Alasdair Macleod - Finance and Eco.
Hello Ali Baba, You bring up a good point .....Now is some more food for thought.....None of the others in that catagory are of any consequence
to me and they are PPI ,CPI,M1,M2 etc as they are subject to S.I.S.O. .........All of the contributors to the make up of this economic data are all
full of lies ....So what good is there in looking at them.Mark Carney and his cronies in the UK fudge those figures so good and solid that they came up with ZERO
INFLATION ....taking things from the rediculous to the sublime  
Read this articleReply
 
user4779 - 6/8/2015 at 8:55 AM GMT
Profile not specifiedcheck his comments (35)
 Technology Needs Capital To Produce Economic Growth
 - Frank Shostak - 
The benefits of information technology show up disappointingly in the GDP numbers because they often flow directly to the ultimate consumers, without being traded by corporations and sending off streams of salaries, taxes, profits, and so on which contribute to GDP. Information is like physical goods in that its value is appreciated, and it can be traded; and this is recognized by economists and business people. What they sometimes forget is that information is freely given as a natural human pleasure. There is a sense of loss when we part with our physical property; but information is different: we do not normally feel a need for compensation or reciprocation for information that we share. If we gain appreciative remarks or higher status in recognition of the value ... 
Read this articleReply
  3  0  Rating :  3 
 
S W. - 6/6/2015 at 9:00 PM GMT
Profile not specifiedcheck his comments (430)
 Stepping Up to the Plate
 - Theodore Butler - Butler Research
Another load of twaddle from Butler.
I assume he has NO silver since it was less than $50 and has been shorting it ever since because after all the price has been manipulated according to himself.
OK lets say the price is rigged.
Is that not a good thing if you want to buy Silver? More bang for your buck.
He could have a half a tonne of the stuff in his garage and do what with it…sell it for more dollars if the price was set free? 
Read this articleReply
 
glasstiger - 6/6/2015 at 5:28 PM GMT
Profile not specifiedcheck his comments (60)
 The Ultimate Call: Will Federal Reserve Be Caught Without Gold in ‘Repatriation Rush’?
 - Mac Slavo - ShtfPlan
Yeh Mac! We believe all the gold is still collecting dust at Fort Knox :) 
Read this articleReply