Release of Huge Gold Deposits

[KGC4Dixie]

If the KGC gold was found:

First, if the government prints too many paper bills their value is said to go down because with more bills in circulation inflation and prices go up.

What if we a vastly huge KGC gold depository 8) was found? If that gold were bars were minted or coin increased the world abundance by 75%, would that reduce the value of all other gold coins and/or silver? I say silver also because the two are tied together when in circulation--so many silver 1 dollars to a gold 5 dollar coin.

Too much gold and it should be worth less but not--worthless. Ha, ha. Does supply and demand mean you'd spend (release) in small quantities? Is the game of inflation completely made up or will too much gold reduce the value of all?

Gary

 

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[KGC4Dixie]

Alright, after the past day I've given this good thought and I hope others see what this might mean. It seems that printing up more and more worthless paper "money" is blamed as a cause of inflation but I've never heard that finding more gold or silver hurts anyone.

During the gold strike of the 49'ers there was never heard the complaint that they should just stop it now with introducing more and more gold into the market place. Has any ever said all that all that tonnage of Comstock silver hurt wealth? No. If that be the case one might imagine the federal government in our day to pay miners not to produce like farmers are paid to not grow!

Inflation must be part of the banker's fractional currency ploy and a scheme. I wonder then if that when gold and silver go "up/down" in the market if its really more a measure of paper currency value ?

Gary

 

[swiftfan]

Saving gold is not such a bad idea. One day the dollar may indeed be worthless. And gold and silver has been used for trading for years. Cities and countries have rose and fell, but the need for trade has always been there. I save bullion just in case.

 

[Texas Jay]

Ever wonder what happened to all the hundreds of billions of dollars the government gave to the bankers in the past year? My belief is that it is going into gold. As long as they keep investing in gold, the price will not drop substantially and may actually increase from the current price of near $1000 an ounce.
That is an increase of 50X what it was valued at during the times we are discussing here. It was about $20 per ounce then. That would make a Quantrill's Guerrilla or James Gang heist, that was valued at $30,000 then, worth $1.5 million now. And that's not taking into consideration numismatic value.
~Texas Jay

 

[lastleg]

The price of gold has risen due to inflationary pressure. Government
figures lie about real inflation. Anyone who has been shopping for the
family for the past five years knows that everything we buy is twice what
it was back then. Utilities such a water service has skyrocketed. Insurance
always goes up each year. Taxes don't fall, they always rise. You can't
believe anything the govt says about inflation, we know better.
The problem with holding gold for an expected windfall is that you would
have had to buy a lot at a lot cheaper price. I've never met one person who
actually did that. I hear lots of guys with breakeven wages bragging about
buying some bullion, etc but when you find out what they paid and how
few ounces they own it doesn't make financial sense.
Now if any of us were to dig up a gold cache we would be totally ahead of
the game, providing we kept it secret and sold a little at a time in different
places.

lastleg

 

[Springfield]

The price of gold has risen due to inflationary pressure. To a minor extent. The price of gold is controlled by the central banks, etf's, etc.
Government figures lie about real inflation. The government lies about everything.
Anyone who has been shopping for the family for the past five years knows that everything we buy is twice what it was back then. Utilities such a water service has skyrocketed. Insurance always goes up each year. Taxes don't fall, they always rise. You can't believe anything the govt says about inflation, we know better.
The problem with holding gold for an expected windfall is that you would have had to buy a lot at a lot cheaper price. That's right.
I've never met one person who actually did that. I know many - most began buying around 350.
I hear lots of guys with breakeven wages bragging about buying some bullion, etc but when you find out what they paid and how few ounces they own it doesn't make financial sense.
Now if any of us were to dig up a gold cache we would be totally ahead of the game, providing we kept it secret and sold a little at a time in different places. You should stick with Powerball tickets - the odds are much better than recovering hidden gold.

lastleg

 

[lastleg]

Sprinfield:

Are you suggesting we all stop our searches for hidden gold? And use
the dough we would have sqandered on lost mines brochures, videos of
detector makers pushing their new line of super dooper gold machines,
trips to seminars and gold shows, memberships in gold mining clubs and
claims, the ultimate headphones, the finest gold diggers ever made, the
best gold sluicers ever produced and the finest, most expensive PI detector
for finding sub-particle gold ever imagined since the advent of bomb
detection?

And do what? Walk into some filthy, stinking convenience store every
morning for the rest of our stupid lives and buying lottery tickets? Well,
I for one, will keep up the good fight even if every mine in New Mexico
has been found, photographed and emptied.

How many gold millionaires do you know? And what coffee shop do they
hang out?

lastleg

 

[ghostdog]

My 3 cents to this topic, the dollar is deflating the Euro is gaining, some countries are dumping the dollar slowly in favor of the Euro, China and Japan want to dump the dollar in favor of a new world currancy, but have to much to lose ,especially China, I think we may be entering a peroid of hyper inflation before the end of this year. It is a given everyone can"t afford to buy and hoard gold, but lots of folks are loading up on ammunition,just ask Wallmart,who is not rationing ammo and Remington who can"t produce enough. I dont think anyone knows whats gonna happen in the future,or has a answer.To see what your dollar is worth today check the world currency market,forein exchange.
Did not mean to go this lenghty,,must be the Bisquets,honey, thick cut range bacon,and dark rich coffee.

 

[Texas Jay]

I suggest members check the price of gold before the Bailouts to the super-rich began. Maybe then you will understand what I am saying in my previous post. Those who invested in gold bullion only a few years ago made out much better than most investors in the stock market or 401Ks. By "investing in gold", I am talking about gold that you can touch, not what I call "paper gold" which, in most cases, is a huge scam. Also check out what economists are saying about what happened to over a $ trillion that was given to the super-rich. No one knows (or claim to know) - not even the government. I still buy my Mega Millions and Texas Lotto tickets for every drawing and have not found it to hinder my treasure hunting in the least.
~Texas Jay

 

[lastleg]

Jay, I can't believe you're throwing your money away like that on the
lottos. Don't you know it is Texas's way to get back from the poor some
of what they spend on them.

As far as the 'gold bugs' what did they really gain? If they went into debt
to buy some bullion inflation took the profit away. You have to buy mucho
gold at a bargain and sell it off at it's peak. Not a few little shiny bars to
gaze at in reverence. Now if you mean Numismatic Gold and have put away
rare gold coins then you do have an investment that is inflation proof.

I thought that was what you meant. How about that "Hazel", huh?

lastleg

 

[Texas Jay]

Hi lastleg. I appreciate your comment about buying lotto tickets but, then, you don't know how much I've won from them, do you?
I've been watching gold prices all of my adult life and have spent many years mining placer gold in northern California. Most of those years, the price of gold fluctuated around $400 per oz. Of course, I never recommend anyone buy gold or anything else if they have to go into debt to buy it. I learned that in Basic Economics at the University of Texas many years ago. Look at all the "house buyers" who went into debt to "buy" houses they could not afford to pay cash for. They are not actually "buying" anything - they are renting to buy from the banks. I've never bought even a car that I did not pay cash for. Others could learn a lot from this basic lesson in economics.
~Texas Jay

 

[Springfield]

Sprinfield:

Are you suggesting we all stop our searches for hidden gold? And use
the dough we would have sqandered on lost mines brochures, videos of
detector makers pushing their new line of super dooper gold machines,
trips to seminars and gold shows, memberships in gold mining clubs and
claims, the ultimate headphones, the finest gold diggers ever made, the
best gold sluicers ever produced and the finest, most expensive PI detector
for finding sub-particle gold ever imagined since the advent of bomb
detection?

And do what? Walk into some filthy, stinking convenience store every
morning for the rest of our stupid lives and buying lottery tickets? Well,
I for one, will keep up the good fight even if every mine in New Mexico
has been found, photographed and emptied.

How many gold millionaires do you know? And what coffee shop do they
hang out?

lastleg

I'm not suggesting you do anything - I'm just stating that your chance of recovering buried treasure is nearly zero. If you're having fun searching for lost mines, more power to you because the quest is the prize anyway. If money motivates you, then gambling, the stock market (same idea), real estate, etc. offer better odds.

 

[Texas Jay]

Springfield, "your chance of recovering buried treasure is nearly zero" only if you are not willing to do A LOT of research and field work just as your chance of winning money on the lottery is surely zero if you never buy any lottery tickets. I have to laugh at the people who criticize others for gambling while they lose the a****s in the stock market. For me, the fun is in the search and in discovering things about our history that have been hidden for many, many years and sharing them with others. I also love the outdoors and have all of my life. That's why I have been active in this "hobby" for 40 years. I pity the person who is in it just in the hopes of monetary gain just as I pity the naysayers who criticize every new discovery made by researchers and treasure hunters even though they have photographs and documentation to support their discoveries.
~Texas Jay

 

[lastleg]

Springfield, I can tell you are not open to humor so I will offer accolades
to your researching skills. I have enjoyed many a post you have scribed.
As far as my chances at finding some more gold I reckon they are still above
average. But in truth I will admit that my stock holdings far exceed those
of my gold finds. Real Estate, yes, I have made money there as well. So
the THing is only a bonus. Interest and dividends pay much better which
enables the other. May your next find bring a smile.

lastleg

 

[lastleg]

Jay, I didn't know about your placering experience. Hats off to ya.
Golly, and an X-Tea Sipper as well. Don't get much better than that.
I really wasn't criticizing your addiction to gambling. There are much
worse vices I suppose. If you ever need an intervention let me know.
I guess UT qualifies for a few B. points but I didn't know they were
churning out economists down in Austin. Bet they all avoided the latest
Wall Street debacle too. Maybe they all loaded up on gold before the
crash too. To sell or to hold, that's the question, right?
I think I'll just hang onto my poke for now.

lastleg

 

[Springfield]

Springfield, I can tell you are not open to humor....
lastleg

Not open to humor, LL? Are you kidding!!?? That's the primary reason I follow this forum. Some of the most hilarious posts one can imagine are to be found on TNet. I particularly enjoy the "Treasure Marks/Signs" catagory.

 

[lastleg]

Springfield, I did as you suggested and see what you meant.

 

[Texas Jay]

lastleg. Yes, I have plenty of experience placer mining in the past twenty years. I don't think that and addiction specialists would categorize my spending 4 dollars a week on lotto tickets as a "gambling addiction." ha. I don't know where you got your misinformation but I am a recovering alcoholic with 17 years, 3+months sober. I used to spend more than my weekly lotto budget in a couple of hours of drinking, every day. What college background do you have, lastleg? I'm interested to know where you got your economic wisdom.
~Texas Jay

 

[lastleg]

Jay, I colleged some hunered or so miles NW of where you are scratching
that ticket. Although what I larnt there just left me pennyless. Not to
mention the sacrifice required by the folks back home. You see Jay I weren't
born with no silver spoon in my mouth. So while you were tea-sippin and
trying out for the cheerleader squad I was out busting my hump to get
3-squares.
As far as my financial acumen goes it was aquired the old fashoned way.
Instead of going to power-lunches with UT nerds I just squirreled it away
in mutuals. And I read every investment pub I could get my hands on.
Learning what not to invest in makes it simple to get double-digit returns.
Not all the time though just most of the time. But you have to save to the
max and pay cash for the necessaries. I know folks who secretly believe
they will win the lotto if they just stick with it week after week. This is
Stage 1 of the gambling addiction. Fore long they find themselves banging
on the 7/11 door just after closing yellin "I gotta have it. Let me in."
I really hope this isn't the fate that awaits you, my friend.

lastleg

 

[Texas Jay]

lastleg, I will not reply to some of you uninformed, derogatory comments except to say that I graduated from Tarleton State University with a B.A. in Government after attending my first two years at UT in the Pre-Law Program. I never accepted a penny from my family for my education and I worked 40-hour weeks while taking a 15-hour class load every semester. I didn't attend college and work my way through to make money. I did it for an education. Sad to disappoint you but, because I was earning my education and working, I didn't have time to try-out for any cheerleading squads nor did I want to. You needn't worry yourself about my fate. Maybe you will educate us all and tell us how gambling on the stock market, with thousands of dollars, differs from gambling on the lottery with a few dollars. Oh yes, and take a look at today's list of the 400 wealthiest people in America and see what a drubbing they took this past year gambling on stocks.
~Texas Jay