What effects will Putin’s War have on the price of gold?
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97 posts in this topic

On 3/4/2022 at 12:00 PM, zadok said:

...go gold.....

Going more.....now up $32 and closing in on $1,970.

Again....if these Russian oligarchs get screwed out of their BitCoin holdings, the entire rationale for $1 trillion in crypto goes down the toilet, IMO.  If even 10% of that goes into gold, look out. xD

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Bitcoin is decentralized, so there is no central authority that governments can go to (or coerce) to force or disallow transactions. However Bitcoin is still owned by people, and people can be forced to perform certain actions that they do not necessarily want to do. While a government cannot command the Bitcoin network to make a transaction to happen, they can go to a particular individual who owns Bitcoin and coerce them to make a transaction

Furthermore, governments often have the power to arbitrarily seize assets owned by people. They can do this by force and physically taking things away. This is often how Bitcoin is seized - the hardware that contains the private keys is physically taken by the government. Once they have access to the private keys, the government can perform any transactions that they wish. There is nothing that Bitcoin can do to prevent this; it is up to the individual to ensure the security of their private keys.

So, the US Fed must travel to Russia :roflmao:and seize The Vlad's, and his Oligarch buddies, computers, laptops, I Pads, etc and take away the 'Bad Boys' assets.

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PS:  Seizing an Oligarch's yacht or limo is like seizing my fishing rod.  I'll just go to KMart and buy another.  No oligarch is going to tell The Vlad to get out of Ukraine.  Not if he/she wants to see the sun come up.

Still a Fact:  USA is major buyer of Russian oil and .................

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On 3/4/2022 at 1:32 PM, Alex in PA. said:

So, the US Fed must travel to Russia and seize The Vlad's, and his Oligarch buddies, computers, laptops, I Pads, etc and take away the 'Bad Boys' assets.

Not necessarily.   These guys want to use yachts and go on vacataions and spend time in their $50 MM pied-a-perre or whatever they call it for luxury apartments and mansions.

These guys are now TOXIC as long as Putin is in the Ukraine.  It's like being a millionaire member of the Third Reich in early-1945. 

Try and enjoy your status !! xD

 

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Posted (edited)

It is about ego and the biggest toys. Confiscate everything owned by the Russian oligarchs and sell it on ebay -- starting at 1-cent.

Edited by RWB
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On 3/4/2022 at 1:38 PM, Alex in PA. said:

No oligarch is going to tell The Vlad to get out of Ukraine.  Not if he/she wants to see the sun come up.

Still a Fact:  USA is major buyer of Russian oil and .................

No change.  Once again:  Taking away an Oligarch's yacht is like take away my fishing rod.  KMart for a new one and park it in Cuba. Or Turkey, eh?

Edited by Alex in PA.
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On 3/4/2022 at 2:09 PM, Alex in PA. said:

No change.  Once again:  Taking away an Oligarch's yacht is like take away my fishing rod.  KMart for a new one and park it in Cuba. Or Turkey, eh?

Actually, LukOil -- #2 oil company -- came out against the war and Putin.  Need others to follow.

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On 3/4/2022 at 2:15 PM, GoldFinger1969 said:

Actually, LukOil -- #2 oil company -- came out against the war and Putin.  Need others to follow.

Yes, we are killing the Russians with those sanctions.  So glad Europe is standing with us.  US STILL buying Russian oil.

Flows to Germany via the Mallnow metering point stood at about 101,119 kilowatt hours per hour (kWh/h) earlier on Friday morning and were about 13.5 million kilowatt hours per hour overnight.

Russian energy company Gazprom on Thursday resumed westbound natural gas supplies via the Yamal-Europe pipeline to Germany from Poland and booked 7.8 million kilowatt-hours per hour of gas transit capacity via the pipeline for Friday morning until Saturday morning.

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Pennsylvania USA:  Gasoline now over $4.00 a gallon.  We're really gonna show them Russkis something now.

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On 3/4/2022 at 2:15 PM, GoldFinger1969 said:

Actually, LukOil -- #2 oil company -- came out against the war and Putin.  Need others to follow.

Yup. 
A station owner was briefly on the radio today, he said he and his colleagues are not happy. Indeed, the two stations I drove past yesterday had no customers. 
4.20 here in suburban Philadelphia . I have never paid more than 3.25 in my lifetime and that was 2013. 
If you own oil ( and I have for 2 years) , you can make a killing. The only danger is not knowing when it will end. But the destructive ideology this crew is forcing on us almost insures a continuation of expensive oil . 
Sorry RWB, didn’t mean to hijack. 

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Not that it is enough to impact prices, but I was at a fairly large coin show this weekend. The majority of the crowd was looking for hard assets. Junk silver, silver rounds, ASEs, and gold both raw and graded carried the show. Some numismatic interest but largely bullion seekers. Now this was in Chattanooga TN, where there tend to be more bullion stackers but it was still up. Contrasted with a show in Memphis last week, interest is largely up with inflation soaring and the uncertainty of the war. People are looking for hard assets. 

Edited by Woods020
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On 3/6/2022 at 1:22 AM, Woods020 said:

Did you see that some Ukrainians captured some of the Russian tanks and listed them on eBay? Funny enough the government took notice and said they would wave sales tax. The one I saw was 50k euros. The only catch is it must be picked up on Ukraine…..

Slightly Used Russian Military Tank, Pick up only, Ukraine  :roflmao:

Information warfare, they are brilliant!!!

https://www.ebay.com/itm/175186614508?hash=item28c9ef98ec:g:QHwAAOSwYTtiImyq

Edited by tj96
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On 3/4/2022 at 9:36 AM, RWB said:

Back to the original subject, please.

:)

Oops, sorry!

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Approaching $2,000 an ounce.....emerging markets central banks are buying gold.....the El Salvador/BitCoin thing isn't really doing much to kill the gold appetite....also, the long-term moving average for gold is moving UP which means this move in gold is not in the late innings.

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On 3/7/2022 at 3:44 PM, GoldFinger1969 said:

We hit $2,000 earlier today.    :banana:

(thumbsu

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And silver!!  :banana::whee:

I'll be ready to dump my junk silver soon!!

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On 3/8/2022 at 12:42 PM, tj96 said:

And silver!!  I'll be ready to dump my junk silver soon!!

Both Gold and Silver reversed on news of a potential end to the conflict.  Stocks went up, PM's down.

To be continued....xD

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Down about $60 earlier today but bouncing back to down $45 and back over $2,000.

Gold reminds me of a beachball being pressed under the water....it WANTS to go higher.  I've seen forecasts for $2,400 or so later this year and all the major players -- central banks, emerging market citizens and banks, SWFs, institutions -- are all buyers.

I saw $7,000 in 5 years as a headline-grabbing forecast but I would give that a 25% chance of happening, up from 5% or less last year.

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On 3/9/2022 at 1:41 PM, Alex in PA. said:

@GoldFinger1969 I believe it was low in price.  I did buy some more about five or more years before 9-11.  Bought Silver too but I don't think I get rich on that.  o.O

But, how much have you lost is real value by holding a dead asset?

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