GOLD

[i am the horse]

Mammon protects the gold at these sites Horse. You'd have to give an offering to Mammon (Tobacco or Whiskey) in order to go underground and retrieve the loot. They call him El Tio he guards all mines of the crown. If not you than I would say you can't have the gold anyway. I've been close to El Tio and pay the price with bad health heaped on me for it. Spells cast in his name last a long time. Being close to his domain with out paying him tribute is dangerous!

Thanks for sharing. Explains my dreams becoming reality

 

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[audigger53]

Mammon protects the gold at these sites Horse. You'd have to give an offering to Mammon (Tobacco or Whiskey) in order to go underground and retrieve the loot. They call him El Tio he guards all mines of the crown. If not you than I would say you can't have the gold anyway. I've been close to El Tio and pay the price with bad health heaped on me for it. Spells cast in his name last a long time. Being close to his domain with out paying him tribute is dangerous!

Makes me wonder if some of the signs are for danger. Not cave ins so much as bad gas or other things that cause sickness or death. Sometimes the Indians would call a place cursed because of illness there, like Smallpox and avoid it. Then the "Whiteman" would come along and think it was just stupid superstition, not knowing the history of the place. Like the "Blue Light" near the top of a mountain in Arizona. If one got too close to it the Gods would weaken him and maybe kill him. They didn't know about radiation poisoning, but they knew how the people that saw it died and would not go there or talk about it to outsiders. So much of what the "Ignorant" people knew was just tossed aside by the "Intelligent People". They knew about chewing Willow Bark for centuries for a pain relief before it was made into Asprin. Modern man is so sure of himself that he doesn't see the truth of the knowledge of people that have not gone to college and got a degree. IMO

 

[Oroblanco]

Mammon protects the gold at these sites Horse. You'd have to give an offering to Mammon (Tobacco or Whiskey) in order to go underground and retrieve the loot. They call him El Tio he guards all mines of the crown. If not you than I would say you can't have the gold anyway. I've been close to El Tio and pay the price with bad health heaped on me for it. Spells cast in his name last a long time. Being close to his domain with out paying him tribute is dangerous!

Horse- make sure you hide a full bottle of Cuervo Especial tequila behind a large flat rock on the left side of the tunnel or cave as that god-offering, and be sure to let me know right away so that I can pass along that information to Mammon and El Tio. You are welcome! Also, if the bottle has vanished or is empty on your next visit you will know that your offering was accepted!

 

[Real of Tayopa]

Au, the intrinsic value of gold does ot change, it only means that the dollar decreases in value sniff sniff

 

[Real of Tayopa]

oro reminds me of old China, where they would take a fine bottle of booze with the seal still intack, take a fine hypo needle then patiently drill a hole in the bottom, drain the good booze, then refill the bottle with somethingless desireable, sometimes direct from the bathroom, depending upon their sense of humor, reseal it with colored wax

 

[Old Bookaroo]

What is the "intrinsic value" of gold? You can't eat it. You can't burn it to keep warm. You can wear it but it gets heavy pretty fast.

Why does an ounce of gold sell for more than its cost of production plus a reasonable profit for those in the middle of the deal? Is a 100% or 200% mark-up sustainable?

The right wing radio gasbags were shilling for overpriced "collectible" gold coins when gold was $1,800 an ounce. One of the companies that heavily advertised paid a $1,000,000 fine for deceptive sales practices. Another went OOB and the principal went to prison.

Good luck to all,

The Old Bookaroo, CM

 

[Oroblanco]

What is the "intrinsic value" of gold? You can't eat it. You can't burn it to keep warm. You can wear it but it gets heavy pretty fast.

Why does an ounce of gold sell for more than its cost of production plus a reasonable profit for those in the middle of the deal? Is a 100% or 200% mark-up sustainable?

The right wing radio gasbags were shilling for overpriced "collectible" gold coins when gold was $1,800 an ounce. One of the companies that heavily advertised paid a $1,000,000 fine for deceptive sales practices. Another went OOB and the principal went to prison.

Good luck to all,

The Old Bookaroo, CM

Well not to irritate you here but I must respectfully disagree. Gold has an 'intrinsic value' as a store of wealth, which is virtually indestructible. Its rarity compared to the demand are what drives the prices, along with plenty of salesmanship and slick fear mongering to drive the prices further up. However when compared to the sheer number of dollars in existence, counting those which only exist in the virtual world, the actual value of gold held by Americans compared to the dollars might shock some people. According to the Federal Reserve Board, some $1.5 trillion exists in dollars, and according to Ft Knox, some 147.3 million ounces are held by the US as a reserve. There is some doubt whether this gold actually exists or if it is actually held by any Fed reserve at all, but just work out the value of dollars to gold ounces and you get an intrinsic value of a wee bit over $10,183 per ounce.

Also must disagree as to the actual usefulness of gold. It is used widely in the electronics trade as the best possible plating for electrical contacts, it is also used in the aerospace industry as a coating for window surfaces (including space suit helmets) for its excellent properties in protecting against some kinds of radiation. It does not tarnish, is not rejected by human bodies for implants and many other uses besides just jewelry or coins. Check out:
Uses of Gold in Industry, Medicine, Computers, Electronics, Jewelry
The article is titled The Most Useful Metal

Also must disagree with that statement about not being able to eat it. You can in fact eat gold with little or no side effects. In fact gold has been eaten as a sort of specialty topping on dishes, for the 'elites' in Japan:
We eat gold-leaf ?Kinkaku Soft Ice Cream? near Kinkakuji Golden Pavillion temple in Kyoto | RocketNews24

Your point is taken, gold is not used the way steel or copper is, yet it is extremely useful and there is some doubt as to whether we would even have our computers and internet today if not for our gold electronics components.

Please do continue;

 

[Real of Tayopa]

ole bookaro, the intrisic value of gold is that you can always make bullets with it or use it for fishing weights

With an exchange rate of 20 / 1 Us who needs Gold ??

 

[Oroblanco]

ole bookaro, the intrisic value of gold is that you can always make bullets with it or use it for fishing weights

With an exchange rate of 20 / 1 Us who needs Gold ??

Agreed, and you can always use it for a doorstop like this fellow did:
NC Historic Sites - Reed Gold Mine - The History of John Reed's Mine

 

[Old Bookaroo]

Oroblanco:

I would never doubt there are uses for gold. However, we are very, very good at recycling it. It's doubtful if there really is a need to mine any more. We probably have, on hand, all that we will ever need.

As for being a "store of value" that depends on the Bigger Fool Theory. It is a store just as long as someone else will come along and wish to purchase it.

Why was gold almost $2,000 an ounce and now it's bouncing around $1,200? What changed? Did the world supply suddenly skyrocket? Did the Hunt brothers try a new corner?

Again - to repeat myself - why would gold sell at a huge premium over its cost of production? Does any other commodity? Actually, if you look at the history, some commodities have sold for less than their cost of production. Personally, I didn't see how that could happen. But it did.

Good luck to all,

The Old Bookaroo, CM

 

[captain1965]

An oz of gold In the nineteenth century would get you a nice suit.
Would an oz of gold today get you a nicer suit?

 

[azdave35]

Oroblanco:

I would never doubt there are uses for gold. However, we are very, very good at recycling it. It's doubtful if there really is a need to mine any more. We probably have, on hand, all that we will ever need.

As for being a "store of value" that depends on the Bigger Fool Theory. It is a store just as long as someone else will come along and wish to purchase it.

Why was gold almost $2,000 an ounce and now it's bouncing around $1,200? What changed? Did the world supply suddenly skyrocket? Did the Hunt brothers try a new corner?

Again - to repeat myself - why would gold sell at a huge premium over its cost of production? Does any other commodity? Actually, if you look at the history, some commodities have sold for less than their cost of production. Personally, I didn't see how that could happen. But it did.

Good luck to all,

The Old Bookaroo, CM

to quote walter houston "gold is worth what it is because for every hundred men that mine gold...only one does any good at it....so you are not just paying for one mans labor...you are paying for the other 99 men's labor"..thats why gold is worth so much

 

[audigger53]

I would never doubt there are uses for gold. However, we are very, very good at recycling it. It's doubtful if there really is a need to mine any more. We probably have, on hand, all that we will ever need.

As for being a "store of value" that depends on the Bigger Fool Theory. It is a store just as long as someone else will come along and wish to purchase it.

Gold is a hedge. If the cost of other items goes up so does gold. If there is a depression the price of gold will also drop, but it will still buy the same amount as before the depression. Wars, and inflation normally drive up the price of Gold. Now I am talking about fluxations, not when a Country "Dumps" Gold on the Market to drive the price down. Russia in1973 when it first went to $880 per Oz. Or when the Bank of England sold Gold "at a loss" to try and stabilize the price.

Why was gold almost $2,000 an ounce and now it's bouncing around $1,200? What changed? Did the world supply suddenly skyrocket? Did the Hunt brothers try a new corner?

First the Hunt Brothers were about 25 years too early for the Silver. When they got the price high enough, Kodak and the other Film manufactures dump their Silver stock that they used for making Film on the Market, wiped out the Hunt's and bought it back at the "Old Price". Once the camera industry went to Digital, the price of Silver has slowly gone up. Now it used in XRay film by the Industry. If they can get something that will work for Xray film then Silver can float as Gold does.

Again - to repeat myself - why would gold sell at a huge premium over its cost of production? Does any other commodity? Actually, if you look at the history, some commodities have sold for less than their cost of production. Personally, I didn't see how that could happen. But it did.

Because it does not corrode! All other metals corrode, Gold does not. Bury it and dig it up 20-40 years later and it will still be the same.

 

[audigger53]

When Gold was $400 an Oz a Pickup truck cost $20,000. Now with inflation here in the States, they want $50-60K for them. About 50 Oz back then of Gold and 50 Oz's now. It is still a hedge for the price of goods that you buy. It was held by the US at $20/Oz, then $32, then $36. It went to $48 an Oz in the US before the Gov took the price fixing off. That is when it Climbed to $800 an Oz and the Russians sold off their stocks and drove the price back down to about $250. It varied between $250 to $430 (in the 80's) and would drop down to $320 and then rise again when a War or unrest occurred. If the Stock Markets crashed, then Gold would go back up. When the Market recovered, it would go back down. All of this I personally have observed. From 1980 to 2005, when my brother and I were searching for "Lost Gold" in the Southwest, I watched the price of Gold weekly. The other problem with Gold is it messes with peoples minds. If you take a 16 Oz Coke bottle and fill it with .999 Gold dust, it will weigh 19.2 LBS. Not Troy pounds. As Cripple Creek was the only place it was ever found at .99 Fine, the bottle would be closer to 275 Oz.s of Gold or close to $300,000! That much money for that little size amount is what messes up people's mind with greed and it has weight to it.

 

[Real of Tayopa]

Hi au follower AU, Gold was chosen origionally as a common factor for stabilisation of the currency of the world. It effectively did not erode under normal circumstances then later the US dollar was adapted for the same reason, since there wasn't enough Gold. The dollar was more flexible, it could expand and contract to fit the world's need for stability , which it wasn't.

How much physical Gold would be needed for the Present US debt ??


P.s. IN THE MARKET FOR A NICE LIL GOLD MINE IN MEXICO

 

[Real of Tayopa]

Terry, love your picture of the old prospector feeding some of his lunch to his faithful pooch

 

[audigger53]

Actually I have a pretty good idea where one is, but Mexico doesn't like non citizens that well. Also to close to town and the Federales barracks.

 

[Oroblanco]

Old Bookaroo wrote

Oroblanco:

I would never doubt there are uses for gold. However, we are very, very good at recycling it. It's doubtful if there really is a need to mine any more. We probably have, on hand, all that we will ever need.

　
You are actually reinforcing the fact that gold is nearly indestructible, and the demand for it only increases year over year, as it is widely used in the electronics industry and a great deal of the gold used in those products ends up in landfills. I have yet to see anyone try to recycle the gold buried in city dumps.

Old Bookaroo also wrote

As for being a "store of value" that depends on the Bigger Fool Theory. It is a store just as long as someone else will come along and wish to purchase it.

　
That "Bigger Fool Theory" is just that - theory, just like the one about bad money drives out good. It only works when it is forced on the public by governments, which like to spend more money than exists. I doubt very highly that you could find many people whom would prefer the paper and virtual money we use today, if they had the option to use real gold and silver, even if only certificates that would be redeemable at banks.

Old Bookaroo also wrote
[quote]

Why was gold almost $2,000 an ounce and now it's bouncing around $1,200? What changed? Did the world supply suddenly skyrocket? Did the Hunt brothers try a new corner?

Again - to repeat myself - why would gold sell at a huge premium over its cost of production? Does any other commodity? Actually, if you look at the history, some commodities have sold for less than their cost of production. Personally, I didn't see how that could happen. But it did.

Good luck to all,[/quote]

This may seem incredible to explain, yet it is really due to the manipulation of gold prices world wide, being done by governments. To a small degree also by speculators, but the largest players in the gold pricing game (along with silver and platinum to a degree) are governments including the US, UK, China, India, Germany and several others. When the price seems to get too high for what the governments desire (even though they have officially reduced gold to nothing more than another commodity like iron or copper) they have taken extraordinary measures to drive the price back down, and likewise (conversely) should the price fall too low, thus "devaluing" the gold held in various governmental "reserves" they are quick to buy up the metal to drive it back up. As you doubt this to be the fact, and have not taken the time to research the matter yet, I will save you some time. Here are a few examples of this rather dirty bit of chicanery:

Howe v. Bank for Intern. Settlements, 194 F. Supp. 2d 6 (D. Mass. 2002) :: Justia

The Basics | Gold Anti-Trust Action Committee

Federal Reserve Admits Hiding Gold Swap Arrangements, GATA Says | Business Wire
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There are many more online if you are interested. The only mystery is why this is being kept so quiet by the major news media outlets?

　
Sorry for the drift off-topic amigos;

 

[Real of Tayopa]

AU, wrong on both counts, plus I have a few over a week travel by mule.

 

[sdcfia]

What is the "intrinsic value" of gold?

5,000 or more years (that we know of) of human history that has always considered gold as wealth.

$US value? Determined not by physical free market trade in our current fiat world petrodollar system, but by electronic manipulation of "paper gold" on a massive scale.

Good idea to have some? Damn betcha - physical, not electronic gold - especially if you feel the world's derivative debt is likely to default, or the US$ will be "reset" to compensate for the debt. That said, if you are thinking of buying some, you might consider buying silver instead. It's very cheap today and even more massively price-manipulated. Research silver world reserves, world production and world usage of silver - especially anticipated industrial usage. It'll be worth too much in the electronics world to be used as money.