GOLD is in trouble>>>>>>CHEAP LABOR FROM CHINA comments.....Because I saw alot of stuff for my house dirt cheap

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I don't see how gold is going to go up with all this cheap labor and goods coming over here from China.

If anything it need to go down, unless oil keeps going up and stays there and this is the end of cheap cheap goods. And when I mean cheap, it's cheap folks.

GOLD IS IN TROUBLE unless we get some big event

IMHO

-- GT (gt@home.net), April 22, 2000

Answers

It is a well known fact that the US and other nations pay for oil with financial vehicles that are backed by gold.

Do you really think that Saudi Arabia is interested in accepting paper instead of gold?

Do you really think that the US and these other countries are interested on devaluing gold, and hence having to pay more of it, for their oil?

-- (@ .), April 22, 2000.


"It is a well known fact that the US and other nations pay for oil with financial vehicles that are backed by gold."

The trouble with well known facts is that they're not well known by all. Care to provide some evidence to support your assertions?

I was in Vegas last year and saw a man at least dressed as an Arab playing craps. He won about $25,000 in the fifteen minutes I watched. He seemed quite happy to get regular US currency.

-- Jim Cooke (JJCooke@yahoo.com), April 23, 2000.


I worked in the oil business with people from the middle east and learned that oil is equated with gold. A low gold price enbles a low oil price.

I suspect gold is manipulated downwards to satisfy oil sellers not under the spell of American hemegony.

-- Will (righthere@home.now), April 23, 2000.


I sold what little gold I had. I suggest you do the same . bad investment. its only gonna go down from here.

-- ed (edrider007@aol.com), April 23, 2000.

Gold isn't an investment. It's an inflation hedge. If you feel that all is well with our financial system, then by all means don't bother with gold or silver. On the other hand, if you are a little concerned about the trillions of dollars of fiat money floating around, then maybe it's not a bad idea to have a moderate amount of something that has more characteristics of money and has served as an almost universally accepted medium of exchange and a store of value for thousands of years. Obviously other "hard" assets such as a house to live in are equally important. With people likely having gold "fire sales" after Y2K fizzled, and because of the continued suppression of the price of gold by the world financial elite, this isn't a bad time to pick up a moderate amount of the stuff.

-- Flash (flash@flash.hq), April 23, 2000.


Jim,

As usual, you prove yourself to be uneducated windbag. The root cause of the 72-73 oil crisis was Nixon pulling the plug on the US international trade gold standard and the Arabs throwing s tantrum.

Do your own homework, mental lightweight.

-- (@ .), April 23, 2000.


Probably shouldn't open my mouth here, as I am as dumb as a tree stump when it comes to economics, gold, silver, etc.

However, some years back (70's) on my first trip to Europe, I went to a money exchange window to cash some travelers checks (this was Amsterdam) and while I was waiting for the transaction, I noticed a few small picture frames, with black velvet, and pieces of what appeared to be gold bars (little ones) and coins of various sizes.

When I asked the clerk, who thankfully spoke English, what these were, she told me that many people bought these pieces of gold as investments just in case there was some emergency, war or whatever. At that time she also told me that with my US Passport, she couldn't sell to me as Americans (at that time) were'nt allowed to own gold.

She went on to explain that most Europeans did this only to have gold on hand...just in case paper money was no longer any good.

This certainly seems to be a better approach to owning gold that all this frantic speculation we have with those who tout gold as something to be held in vast amounts. And, if I were going to become interested in gold, it would be these small pieces which could be used in place of money.

I do believe the operative word here is "Manipulation"

-- Richard (Astral-Acres@webtv.net), April 23, 2000.


--,

so, in your mind, asking for substantiation of an alleged "well known fact" makes ME a mental lightweight? Now, you're stating that the crisis of 1972-1973 was caused by Nixon? Let's review a few facts.

1. There wasn't any oil crisis until October 6, 1973 at the start of the Yom Kippur war. The Arab nations cut off oil supplies to the West for supporting Israel.

2. The oil crisis extended well into 1974.

3. Nixon, except for supporting Israel, had nothing to do with causing the oil crisis.

Any other "facts" you'd like to post?

-- Jim Cooke (JJCooke@yahoo.com), April 23, 2000.


As I understand it, the root cause of the oil crisis was Nixon pulling the plug on the gold standard currently in use for US international trade and the Arabs throwing a tantrum over accepting US paper instead of Mother Nature's monetary metal (domestic commerce was removed from the gold standard in a manipulation by the government and the banking industry in the 40's).

And you think the crisis was about the King's kids being upset over who pulled for who in an Israeli pissing contest?

Do you still subscribe to the lone assasin theory also?

-- (@ .), April 23, 2000.


This is like shooting fish in a barrel:

1) Find any historical change with respect to gold -- political policy changes, price changes, large transactions, doesn't matter.

2) Find anything that happened in the world of any note, within, oh, a year or two of such change.

3) Equate them. The gold-related change must have caused the event. If the event came first, it's because the insiders knew it was coming.

4) Attack anyone who disagrees with your theory, regardless of how farfetched or utterly lacking in solid documentation your theory might be.

This is the MO of the goldbug sites. Has Andy returned as "@"? I can understand Andy being too cowardly to return as himself, but I can't imagine him changing his stripes for such a trivial reason as mere reality.

-- Flint (flintc@mindspring.com), April 23, 2000.



Here guys. Let me make it easy for you. Select which of the statements below you disagree with, then refer me to your corroborating information:

A. Nixon pulled the plug on the gold standard currently in use for US international trade

B. The Arabs were upset over accepting US paper instead of gold

C. domestic commerce was removed from the gold standard in a manipulation by the government and the banking industry in the 40's

D. The attempt by the the US to trade paper for oil triggered the oil embargo.

E. Flint and Jim are pinheads.

-- (@ .), April 23, 2000.


--,

Well, I tried. If you believe that the Yom Kippur war had no effect on any oil embargo than you simply haven't read any history. I assume that you weren't an adult during this perios becuase you couldn't have forgotten the events if lived through them.

I rarely engage in name calling but in your case I'll make an exception. You really are a moron of the first order.

-- Jim Cooke (JJCooke@yahoo.com), April 23, 2000.


Jim and Flint,

This is just "a" pulling your chain. He LOVES the '73-74 recession, though he doesn't understand a whit about it. You can tell it isn't Andy because he hasn't used the word, "codswallop" yet.

-- Ken Decker (kcdecker@worldnet.att.net), April 24, 2000.


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