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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 375.93

-1.8%

Nov 14 4:00 PM EST

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To: carranza2 who wrote (124484)	11/12/2016 12:45:55 AM
From: Maurice Winn	Read Replies (1) of 217764

As TJ learned in Oz, gold is made out of oil. <So, why has gold taken such a tumble?> The price of gold is the cost of production plus whatever margin the competitive landscape allows at the time, with supply and demand topping up or down the gold price depending on the florid fears in the minds of men [and it is men]. If you check the price of oil you will see a bit of a tumble. Combine that with the stock market zooming up and this that and the other, the increasing crop production due to over 400 ppm CO2 now available, the number of ants in outer Eketahuna and the infinite array of other variables that set the price of gold on any day, and hey presto, gold takes a bit of a tumble but just back to where it was. The big move in US$ will come when the umpty$trillion debt meets the bankrupt bank accounts and the flight to 'safety' that will happen when people en masse realize the jig is up, but the run on the bank finds that there is no gold in the vaults to be used to swap for "In God We Trust" promissory notes issued by politicians whose promises are not "as good as gold" [to coin a phrase]. It does seem likely that electric cars now have critical mass at $50 a barrel or even $30, to replace the Otto and Diesel cycle fleets after decades of attempts to get electric cars going. Mqurice

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