InternationalRockSuperstar

Congratulations you are agreeing with me their income rose massively.

I assume you mean in nominal terms.

in real terms german wages sank to almost third world levels.

That's exactly right.

You need higher income, or the debt burden is unchanged for the borrower.

It only "erodes" in relation to rising income.

so long as the interest rate on the debt is less than the nominal wage increases.

Either the data is wrong or some other explanation of how people earning small earlier nominal numbers could afford later ginormous numbers.

the fact that they ended up spending 99.7% of their income on just food and clothing makes it pretty f****** obvious that their wages didn't keep up with inflation.

Weekly Cost : Total in Marks : - - - - Percentages - - - -

========== . . . . . . . . . . . : Food / Housing / Clothing

Nov. ..... 1923 : ... 14.408 Bn. : 64.9%/ 00.26% / .. 34.8%

so 99.7% just on food and clothes!

before or after the crack-up boom?

a "Constitutional Tender Act", that would "require that any bank conducting business with the state accept gold and silver coins as deposits*

the last thing I'd do with my gold is give it to a bank!

I always accept that I will get burnt if I get it wrong. Like last year for example when I lost a lot from PM investing.

if you don't want to lose then stop playing the commerce-game.

These bounces off $1,000 get more and more ridiculous by the day. Everyone knows this. Once gold will have crossed $1,000, there will be a lot of catching up to do with the price. People like - what's his face, the Scottish dude - will come out of the woods and will want to buy the stuff. I won't sell to them.

Hugh Hendry?

>$15/oz.t

 

f*** yeah!

Silver just bounced off 16! ...

that didn't take long!

For me its not about looking for a way back in

gilt auctions later this week.

I expect it will have a similar effect on GBP as last week's treasury sales had on USD.

Here's a decent size copper nugget...

http://www.mlive.com/travel/index.ssf/2008...nal_park_b.html

nice.

here's a silver one:

http://home.att.net/~desert-gold-diggers/gold/finds.htm

Doug proudly shows his 290.8 troy ounce (about 20 pounds) silver nugget at the DGD Annual Picnic. It assayed at 82.95% pure Silver and was found on one of the DGD claims. Congratulations Doug.

I googled "copper nugget Chris Martenson" and found text where he talks about it. Does anyone have a link to a picture of this nugget?

yes, it's black and white though, so you'll have to take their word that it's not just a big lump of grey sh1t!

I wish we could paint the same picture in GBP.

give it a week or so

edit: when's HMG's next debt auction then?

Snap, snap, snap.

 

Hope you got enough links.

yeah thanx for that!

iron running out in 2087. well I never.

reminds me of that picture of the huge copper nugget Chris Martenson uses in his crash course to demonstrate resource depletion.

This metal is the third non-renewable resource set to disappear thanks to intensive exploitation by mankind.

what were the first two?

>$15/oz.t

f*** yeah!

In terms of total above-ground stocks I believe there is more gold than silver.

I meant ratios of price, not quantity.

i'm just buying silver on a monthly basis (not much just what i can afford) when Silver:Gold hit's 50:1 I'll swap it into Gold and start buying Gold monthly.

isn't the ratio between physically obtainable gold and physically obtainable silver already below 50?

No, but here are some considerations going back to 1912 (in the US).

http://goldismoney.info/forums/showpost.ph...mp;postcount=69

do you think we'll see average UK houses go for 1000oz silver again, or do you think 1980 was an anomoly?

Can anyone tell me which are the best years for the following 1oz gold coins in terms of aesthetics please? (Panda, Dollar)

the 1933 Double Eagle of course

http://en.wikipedia.org/wiki/1933_Double_Eagle

The 1933 double eagle (United States 20-dollar gold coin) currently holds the record for highest price paid at auction for a single U.S. coin when it was purchased for US$7.59 million.

$7.59 million for one coin.

who said you needed 100oz to buy a house?

No, but here are some considerations going back to 1912 (in the US).

http://goldismoney.info/forums/showpost.ph...mp;postcount=69

ta.

http://gold.approximity.com/since1968/UK_H...es_in_Gold.html

do you have any pre-1914 house price data?

I've been googling for it, but no luck.

and a passing glance at the gold/house price ratio re Goldfinger - i think it could bottom at about 50oz

yes, I think 50oz or less for the average house, 100oz or less for a nice one.

probably less because in previous recessions the rents have had an artificial bottom due to 'social/welfare' rent. this time round the gov't won't be able to afford this.

house values will fall back to pre-welfare-state levels.

That $50bn IMF gold sales is worth investigating.

I think Injin hit the nail on the head:

The insiders are selling it from the state to themselves as private individuals.

 

Things will unravel quickly from now on.

http://www.housepricecrash.co.uk/forum/ind...t=0&start=0

http://www.gata.org/files/PIRATES-OF-THE-COMEX.pdf

so not only is HSBC one of the three banks shorting the sh1t out of gold on the COMEX

but HSBC is also the custodian of GLD!

have I got that right?

if I have, then that's seriously f***** up!

Life in old dog yet $930.80

 

$15 jump in as many minutes