Thread: Buying Gold with my Thai savings?

Warren Buffett'''s Berkshire Hathaway snapped up Barrick Gold in Q2, sold Goldman Sachs

Interesting to note that the sage of investing has bought $591 million worth of Barrick Gold shares - Yep - he sure hates those precious metals!

Gold has the security of cash and the upside of Bitcoin. But it won't capture the public interest until its too late.

Everyone is still gaga with Bitcoin even though that ship has sailed.

Buy some God damn gold before its too late

Originally Posted by Iceman123

Warren Buffett'''s Berkshire Hathaway snapped up Barrick Gold in Q2, sold Goldman Sachs

Interesting to note that the sage of investing has bought $591 million worth of Barrick Gold shares - Yep - he sure hates those precious metals!

Warren Buffet bashed gold his whole career. But his reputation and legacy is on the wane. Warren Buffet could use a home-run right about now.

If his reputation wasn't sputtering he'd probably just stay away from gold and ride into the sunset as anti gold.

He might just be timing this perfectly and he'll get that last home run. And I'll take back everything negative I said about him

Only a matter of time. Gold is going to $30,000-$70,000 an ounce

During the 1970s gold rose 2,500%, from the (artificially low) price of £15 an ounce to £371 by 1980. Paterson observes, "a 300% increase in money supply resulted in a 2,500% rise in the price of gold".

Fast forward to today and we see that 300% increase in the BoE balance sheet looks positively restrained, prudent even. In the 11 years since 2000, the BoE has increased its balance sheet "by a staggering 1,000%", says Paterson.

^ This was before Covid. The balance sheet has been expanded even more now.











The explosion in the Bank of England's balance sheet



Fast forward to today and we see that 300% increase in the BoE balance sheet looks positively restrained, prudent even. In the 11 years since 2000, the BoE has increased its balance sheet "by a staggering 1,000%", says Paterson.

In that time gold has risen about 530%, from £180 to £1,000 an ounce this week. For the 2,500% rise of the 1970s to be replicated, you're looking at a final destination of £4,500. But if you factor in BoE money creation, you can more than triple that number.



This is the historic balance sheet before covid.

Gold hasn't even come close to pricing in the 2008 balance sheet expansion. The 2008 expansion looks like child's play compared to the covid expansion.

But hey. Laugh at me and buy anything but gold. That's what most of you will do. Buy Doge coin. It's funny how all the gurus say to buy what is out of favor. But the lemmings just never do.

Skiddy I don't think your Bt500 savings is going to buy very much.

Financial crisis of 2008 hits. BoE starts adding more zero's to their accounts.

Doubtless the source for that graph is highly reliable.

Backspin, You have been prattling on about gold for a while now. You obviously think it is due to head north in the near future (I personally think there is upside to come, but am nowhere near as bullish as you)

Why don’t you just take a position on Gold futures for April ‘21 price is just below current price and you can leverage your funds to multiply your profits

Originally Posted by Iceman123

Backspin, You have been prattling on about gold for a while now. You obviously think it is due to head north in the near future (I personally think there is upside to come, but am nowhere near as bullish as you)

Why don’t you just take a position on Gold futures for April ‘21 price is just below current price and you can leverage your funds to multiply your profits

Nah I've basically given up on it. I way over estimated the world's intelligence. Who needs gold when you have Doge coin ?

Iceman: gold futures at current price 3 months ahead looks tempting.

Backspin: Before you put your house on DOGE, know that Musk was and continues taking the piss, while his comments were/are as much a joke as DOGE itself, whose founder makes no secret that he created a fun coin that's worthless and with no utility. Unfortunately for many, each time Musk types DOGE thousands more people buy in and are destined to lose money. His serious comments include support for btc, confidence it will become more widely accepted, and regret at missing the party when he learned about it years ago.

Still not sure what your btc entry point is and how much you would like it to pull back, which it might do sometime but for now continuing north.

Good advice: Wear thick woollen socks when you kick yourself for not entering all the way to 100.

Originally Posted by Backspin

Gold hasn't even come close to pricing in the 2008 balance sheet expansion. The 2008 expansion looks like child's play compared to the covid expansion.

But hey. Laugh at me and buy anything but gold. That's what most of you will do. Buy Doge coin. It's funny how all the gurus say to buy what is out of favor. But the lemmings just never do.

DOGE is a worthless shitecoin created as a joke and with zero utility, which some people exploit profitably because others think it's cute, and in our age anything that's pumped will have people wanting to sign up. It'll cost you a whole 8c today, up from 3 or 4 sats (1 btc = 100,000,000 sats).

Gold is analogue in a digital world. While it has a traditional store of value with a long history, and might reach $5k or even $20k, each significant rise incentivises miners to dig better or deeper or faster to take advantage of demand by increasing supply; point being there are 3 elements to gold as with all conventional commodities, demand, supply, price.

With crypto (context btc), and for the first time in human history, supply is not just scarce but fixed and immutable, leaving just two variable elements not three; demand and price. When demand exceeds supply it cannot be filled by creating more through dig, pump or manufacture. It can only be filled by prices that keep rising, until holders are prepared to sell. Meanwhile, and this is public info as is every crypto transaction ever made, an increasing number of institutions, groups and individuals are removing coins from the exchanges and into storage, which tells us that the current price has way to go before they might be tempted into selling.

Something on critics, having been blasted by a fervent traditionalist last evening. Many critics are afflicted by ego or cognitive dissonance, which often stems from the first persuasive opinion they read or heard years ago, which prevents them from absorbing new data. While most crypto holders are fixated on profit, blockchain is more than the price of btc; it's new tech that's changing the world as you read just like the internet did a generation ago, TV before and electricity before that, with more and more applications being discovered. Still in its infancy and just getting started, we don't know where it will lead, and in favour of these diehard critics the potential can easily be overlooked. But it will be interesting to see how many refuse to shift their position when btc hits 100k this year or 200k this year or next, while some nerds and analysts are beginning to revise their earlier estimates to predict the price of btc no more in 6 digits but 7.

Originally Posted by jabir

With crypto (context btc), and for the first time in human history, supply is not just scarce but fixed and immutable, leaving just two variable elements not three; demand and price. When demand exceeds supply it cannot be filled by creating more through dig, pump or manufacture.

Slight correction required, Gold is a finite resource, tho thirds of all available is already above the ground.
Bitcoin is for the punters, not a store of value.

Do you really think the world’s reserve banks are going to let an upstart to take a major slice of the action?

Within the next few years you will see the launching of crypto’s by many governments. (These ones will be acceptable in the broad marketplace)

In the meantime I think the investors in btc are not trying to build a store of wealth but merely gambling and motivated by the Fomo.

Good luck and like the old kids game, don’t get caught holding the parcel!

Originally Posted by Iceman123

Slight correction required, Gold is a finite resource, tho thirds of all available is already above the ground.

You know that? Oh, you mean the 'available' gold, which is all there is and no more will become 'available' with further exploration.

But you are right about gold being a 'finite' resource. A nugget the size of Everest would also be finite; well done and please explain what commodity on this planet is not finite?

Bitcoin is for the punters, not a store of value.

Do you even know what store of value means? Btc became a store of value the moment somebody bought some, expecting to be able to transact for something else of value. It becomes a more established store of value each time it hits a new high, which sort of suggests not everyone shares your opinion.

Do you really think the world’s reserve banks are going to let an upstart to take a major slice of the action?

Yes I do. Pakistan, India and China for starters, though there may be more, tried to variously control and shut down your 'upstart', and then backed off when they realised it simply moves underground.

But let's go with your version:
Which 'world reserve bank' is on your shortlist to challenge crypto as a decentralised form of transaction?
How would you propose they do it, short of closing down the internet?
Did you know there are more people in countries with weak and debased currencies, than in the entire US and Europe? If so, what do you suppose would happen when the first of the reserve banks on your shortlist, tries to prevent people in countries that suffer with debased currencies from using crypto as an alternative "store of value?"

Within the next few years you will see the launching of crypto’s by many governments. (These ones will be acceptable in the broad marketplace)

You know that as well; good. And when that happens, will citizens be allowed to choose which crypto to use, or are you talking totalitarianism as in you must use our one because we say so? If the latter, do you still not see that btc make more sense?

In the meantime I think the investors in btc are not trying to build a store of wealth but merely gambling and motivated by the Fomo.

So you did read my post, though possibly not the part where I said the same. What's your point?

Good luck and like the old kids game, don’t get caught holding the parcel!

Do you recognise yourself? If not here's a clue, read the last paragraph of *2638 again.

Jaysus, you don’t half jabber on a bit.
Here is my opinion. in 20 years time btc will be a trivial pursuit question - What was the first crypto currency? (Now worthless)

What have you bought with your btc - nothing - am I right? It’s a long way from mainstream - what do you do when it fails? Oh that’s right - them Dutch tulips are due an exponential price hike.

How old are you? If under 25 I will forgive your stupidity.

Originally Posted by Iceman123

Jaysus, you don’t half jabber on a bit.
Here is my opinion. in 20 years time btc will be a trivial pursuit question - What was the first crypto currency? (Now worthless)

What have you bought with your btc - nothing - am I right? It’s a long way from mainstream - what do you do when it fails? Oh that’s right - them Dutch tulips are due an exponential price hike.

How old are you? If under 25 I will forgive your stupidity.

Having made a string of false and unsubstantiated claims that I challenged, your response is to talk about tulips and personal attacks.

Clear winner, you, well done.