Gold heading for $5,000 ?

[FreeBirdTim]

Take a good look in the picture of the age denigraphic there is no one under 50 there lining up to by gold. What does that tell us?

That younger people don't waste their time lining up to buy gold when you have dozens of options to buy it online and have it delivered to you?

 

[Crow]

That younger people don't waste their time lining up to buy gold when you have dozens of options to buy it online and have it delivered to you?

Good point. But in the current economic pressures such housing crisis, inflation and challenging working conditions just to put food on the table can the vast majority can even afford to buy gold?

Crow

 

[Crow]

its not say young people aren't buying gold as there is always exceptions to the rule. the vast majority of all ages either being in United States, Canada, Australia. UK and Europe are struggling with every day living expenses paying rent student loans or mortgages or just trying to survive from paycheck to paycheck.

Who is buying gold in the private sector. It is those that have disposable income to invest. By enlarge its older people who are more financially established are buying gold.

The bar maid old crow chats to her concern is earning enough money to pay the rent, electricity and putting some food on the table for her and her daughter. The price of gold is irreverent like for many.

Only positive for her is perhaps the wedding ring her ex gave before scumming off leaving her to raise a child alone is worth enough to pay for a extra weeks rent?

Crow

 

[pepperj]

its not say young people aren't buying gold as there is always exceptions to the rule. the vast majority of all ages either being in United States, Canada, Australia. UK and Europe are struggling with every day living expenses paying rent student loans or mortgages or just trying to survive from paycheck to paycheck.

Who is buying gold in the private sector. It is those that have disposable income to invest. By enlarge its older people who are more financially established are buying gold.

The bar maid old crow chats to her concern is earning enough money to pay the rent, electricity and putting some food on the table for her and her daughter. The price of gold is irreverent like for many.

Only positive for her is perhaps the wedding ring her ex gave before scumming off leaving her to raise a child alone is worth enough to pay for a extra weeks rent?

Crow

We have a close friend that bought 2 -10 oz bars of gold the next day after 9/11.
He kind of regrets the way he bought it. He realizes that it would of been better to buy 20-1 oz bars.
Still he's smiling though.

 

[Crow]

I talked to young feller in his late teens trying to get work. He tried to get work at grocery store chain he was interviewed twice by AI, never by a human before being rejected. I cannot imagine how demeaning that is.

This is sign of things to come. CEO in all the major companies are doing it. Hardly a great future ahead for many young people starting out. Kids are doing degrees at Universities that are already become obsolete before they have finished there courses and to rub their noses in it they carry a student debt.

if a job can be replaced by robot and AI it will and that's is a the brutal truth the next generation is facing where humans cannot outwork machines. Many older people are concerned for their children and grand children. Most will be locked out of the housing market stuck in perennial debt trap. All of these concerns are feeding anxieties and this in general more older and more established people are looking for safety of gold.

People can see the social disintegration of morals and society around them. Another example of moral disintegration of society is concept that that idiot in France recently thought that he could make money filming him stabbing women with a syringe for hits on you tube to make money? The brutal truth that could happen in any country. but is just more evidence of moral decay we are seeing around the world.

I am not the only one to see it that combined with all the other factors mentioned that is why gold is climbing higher.

Crow

 

[Crow]

We have a close friend that bought 2 -10 oz bars of gold the next day after 9/11.
He kind of regrets the way he bought it. He realizes that it would of been better to buy 20-1 oz bars.
Still he's smiling though.

I agree. smaller the bars you have more options. To progressively sell gold in parts at leisure.

Crow

 

[robertk]

This is sign of things to come. CEO in all the major companies are doing it. Hardly a great future ahead for many young people starting out. Kids are doing degrees at Universities that are already become obsolete before they have finished there courses and to rub their noses in it they carry a student debt.

If a kid asked me what to go into today, I'd say skilled trades -- construction, electrician, masonry, welding, that sort of thing. Literally everyone I talk to in those industries say its impossible to get decent help. And my experience agrees with them. And I doubt AI is going to be out laying brick any time soon.

 

[russau]

It only hurts when you think about it !

 

[russau]

We have a close friend that bought 2 -10 oz bars of gold the next day after 9/11.
He kind of regrets the way he bought it. He realizes that it would of been better to buy 20-1 oz bars.
Still he's smiling though.

Investing in precious metals in small weights is (to me ,1 oz. to 10 oz amounts ) the safe way to prepare for what is coming eventually. If it all hits the fan , you'll need small amounts of gold/ silver to buy the everyday things you need to live on (food ,bullets , gas ETC.) think about it , who could give you change if you had a large bar of gold or silver / better to be ready to survive this mess and be able to protect your loved ones! and keep your mouth shut to prevent thieves from robbing you and killing you for it! I've heard that nine M.M. rounds would also end up being a VERY good trade items !plus you may need them to protect your self!!! It could get real dicey real fast from those that aren't prepared for this!

 

[Crow]

If a kid asked me what to go into today, I'd say skilled trades -- construction, electrician, masonry, welding, that sort of thing. Literally everyone I talk to in those industries say its impossible to get decent help. And my experience agrees with them. And I doubt AI is going to be out laying brick any time soon.

I agree 100%

We are short of everything in regrades to trades. The trouble we have gen Z they don't want apprentice wages to learn a trade.They want top dollar straight away. The company I had many was more interested in playing on their phones than actually working.

I had a small gold mine I could no compete with bigger mines offering better pay and conditions. I took people on trained them in drilling. mining. heavy machinery got them all their licenses. rigger tickets, confines spaces tickets etc gave them experience then for my investment they would take take off to a bigger mining company leaving me to start over again.

By the time I complied with occupation health, safety and mining compliance costs and production costs. Everyone got paid except me. In the end I learned a valuable lesson from that economies of scale.

Brick laying Probably not soon but in future.

Future brick laying.

In some trade industries there is outright age discrimination because they know as you enter your forties in hard manual and trade work most workers are carry injuries that are considered a liability by employers.

This is some thing white collar workers will never understand sitting behind a computer. Anyone who has worked in hard manual trade laboring roles by the time you hit 60 and even before that your bodies stuffed. Yet their expected to work to 67 plus. There is the younger generation that does not have the work ethic. They are not prepared to pound their bodies into pulp like my generation did. Rightly or wrongly so.



Crow

 

[Chilli]

I talked to young feller in his late teens trying to get work. He tried to get work at grocery store chain he was interviewed twice by AI, never by a human before being rejected. I cannot imagine how demeaning that is.

This is sign of things to come. CEO in all the major companies are doing it. Hardly a great future ahead for many young people starting out. Kids are doing degrees at Universities that are already become obsolete before they have finished there courses and to rub their noses in it they carry a student debt.

if a job can be replaced by robot and AI it will and that's is a the brutal truth the next generation is facing where humans cannot outwork machines. Many older people are concerned for their children and grand children. Most will be locked out of the housing market stuck in perennial debt trap. All of these concerns are feeding anxieties and this in general more older and more established people are looking for safety of gold.

People can see the social disintegration of morals and society around them. Another example of moral disintegration of society is concept that that idiot in France recently thought that he could make money filming him stabbing women with a syringe for hits on you tube to make money? The brutal truth that could happen in any country. but is just more evidence of moral decay we are seeing around the world.

I am not the only one to see it that combined with all the other factors mentioned that is why gold is climbing higher.

Crow

Banks are closing branches in the hundreds here in OZ because of AI. One in our small town is closing the end of this month. Victoria Roads that deals with registration, licenses and vehicle inspections has closed where we originally lived for 30yrs, AI, and our here is on the cards to close too. There are towns now with aging populations in regional towns now with no physical banks. Have an issue, tough luck, go online and deal with recordings or AI. The elderly don't know what to do nor how to navigate the online systems.
Its falling apart quickly.
Hey, something different, we have a family of Crows that visit our place every day to feed and forage in our backyard. Funny to watch.
Here's one of the young ones from yesterday, your namesake. 😄

 

[AstralDruid]

The value of gold is the financial Crow squawking a very loud warning to us all...

 

[unclemac]

Goldman Sachs has something to say on the matter.... https://finance.yahoo.com/news/goldman-sachs-says-demand-gold-175231232.html

 

[Chilli]

The value of gold is the financial Crow squawking a very loud warning to us all...

I wondered what it was on about that day. That must be it. 👍

 

[FreeBirdTim]

Goldman Sachs has something to say on the matter....

Just remember that Goldman Sachs will state anything to pump up the portfolios of their clients...


https://en.wikipedia.org/wiki/Goldman_Sachs_controversies

 

[unclemac]

of course there is that... click bate so to speak. Sometimes I will click on some story about some talking head having a word war with some other talking head.... and then I remember... "oh yeah, click bate for add revenue...who cares what these two screaming morons have to say..."

 

[AstralDruid]

I wondered what it was on about that day. That must be it. 👍

I was being serious though....; maybe you too,, but hard to tall on these threads sometimes..
In certain (let's call them) circles of understanding,, the crow is the harbinger of news.... The crow discussion here on this gold thread is not random...

AD

 

[Crow]

Just remember that Goldman Sachs will state anything to pump up the portfolios of their clients...


https://en.wikipedia.org/wiki/Goldman_Sachs_controversies

I agree they have not a great record. I know that many things have changed inside the company since 2008.

Thee name still leave a bitter taste in many peoples mouths.

Goldman Sachs' involvement with subprime mortgages was a major point of controversy during the 2008 financial crisis, primarily due to its role in creating and selling mortgage-backed securities ( CDOs). The company faced charges of fraud for misleading investors about the quality of these securities, leading to a $550 million settlement with the SEC in 2010. Later, in 2016, Goldman Sachs reached a separate $5 billion civil settlement for its role in the 2008 meltdown.

so I tend to be wary of Goldman Sachs statement.

But the fact remains gold is steadily climbing for the last ten years. Whiles bit good to hedge investments. I prefer property and shares.

And digging in Chili's back yard. Australia has the world's largest gold reserves, estimated at over 10,000 to 12; 000metric tonnes, with much of it located in Western Australia. The country is also one of the top gold producers globally, although its central bank reserves are stable at around 80 tonnes because the majority of the gold is exported.

One positive out of this all over the world small gold mines that was once unprofitable may now worth mining again.

Crow

 

[pepperj]

I agree they have not a great record. I know that many things have changed inside the company since 2008.

Thee name still leave a bitter taste in many peoples mouths.

Goldman Sachs' involvement with subprime mortgages was a major point of controversy during the 2008 financial crisis, primarily due to its role in creating and selling mortgage-backed securities ( CDOs). The company faced charges of fraud for misleading investors about the quality of these securities, leading to a $550 million settlement with the SEC in 2010. Later, in 2016, Goldman Sachs reached a separate $5 billion civil settlement for its role in the 2008 meltdown.

so I tend to be wary of Goldman Sachs statement.

But the fact remains gold is steadily climbing for the last ten years. Whiles bit good to hedge investments. I prefer property and shares.

And digging in Chili's back yard. Australia has the world's largest gold reserves, estimated at over 10,000 to 12; 000metric tonnes, with much of it located in Western Australia. The country is also one of the top gold producers globally, although its central bank reserves are stable at around 80 tonnes because the majority of the gold is exported.

One positive out of this all over the world small gold mines that was once unprofitable may now worth mining again.

Crow

In a recent business report they stated that it takes a mine an average of 16 yrs to produce anything from the start up.
So if that's the case old proven mines that had a low yield would be worth starting up again.
Here in Canada by the time they get approved, and get it back up its like starting from scratch.
NIMBY is still the main driver.

 

[Crow]

In a recent business report they stated that it takes a mine an average of 16 yrs to produce anything from the start up.
So if that's the case old proven mines that had a low yield would be worth starting up again.
Here in Canada by the time they get approved, and get it back up its like starting from scratch.
NIMBY is still the main driver.

Good point. It does take a long time. To even get a mine from care and maitence operational again it can take a few years especially of parts of mine needs dewatering. The NIMBY brigade are everywhere in all countries. Many do not understand or care how much money can flow into the local communities from mining.

Crow