Gold $1,179.60

Who else is being tempted to sell now besides me?

 

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Here's one


Currently:

GOLD @ $1,182.90/oz. Current High Today
Silver @ $18.77/oz. High Today so far $18.79
Platinum @ $1,747/oz.
Palladium @ $559/oz.

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What's going on? It can't be the oil spill scaring everyone? Or Greece's sinking economy?

 

Crude is up as of this writing. Defaults in Europe, no one is running to a weak US dollar for safety, instead PMs. PMs are high and may correct and dip again soon. Can't say for sure what it all is impacting price this last day of the month.

 

If you had a ton of cash in Euros what would you do with it?

 

Buy as much PM's as possible I suppose and keep enough Euros for daily expenses.....

 

Yep. The fundamental problems behind the Euro, and it is not equivalent to the $ or any sovereign currency in the world, are showing their face now that things have gotten ugly. Poor countries that entered the Eurozone are treating it like a big credit card, while the rich countries are being told to pay the bill. The problem is that nobody is standing up and saying "I am European, we must make it work". Instead it's, what is good for Germany, Greece, Spain, etc etc. As bad off as the $ is, at least it's people still support it, it's not a creation of treaties, and there isn't a chance the USA will dump it for something else. Most have missed this over the years and have touted the Euro as a good alternative reserve currency. Now that its "danger danger Will Robinson", there are people panicking, and are looking for alternatives.

While the Eurozone (where Euro is used) might not break up, the events right now sure don't give people with assets denominated in Euros a good feeling that things will be fine. In other words if the country I am in leaves the Eurozone and goes back to the original currency, what will be the conversion? My guess, not a good one. If another country did this, what happens to the Euro?

It's this uncertainty that is driving people with the means to put their money in elsewhere. So what choices do they have? They can put money in banks in other currencies. Some options are the Swiss Frank, British Pound, and of course the $. A lot of money is doing this. I can't speak for the Swiss Frank, but the Pound is heading to the toilet too so that leaves the $. haha. Ones in the know however, and probably the ones in the know enough to know the issues, are probably buying PMs and probably that is mostly gold.

 

1 Euro coins weighs: 7.50gm. and a 2 Euro coins weighs: 8.50gm.

1 short ton = 907,184.74gm. and 2 short tons = 1,814,369.5gm.

Currently 1 Euro = 1.43304 Australian Dollars... x-e.com

I'll guess I might some PMs and move to Australia, even better if there's work available for me when I arrive. I speak English so the language learning curve should suit my choice of a new homeland. Their economy seems stronger and there's a lot of land.

 

Makes you wonder if issues in the Eurozone would squash the conspiracy over here about the Amero? Either the Amero doesn't have a fighting chance and it was nothing more than conpsiracy or it will come to fruition because our leaders are so incompetent and egotistical and power hungry they do whatever they want ignoring actual history in the making...


I just read an article that central banks are also diversifying in gold so that surely is helping its increase and that $1200 is not out of the question.

It would be stellar to see gold SETTLE at $1200 as the new low....

Like you said, the conversion rate would probably suck if Greece wanted to leave the pact(or any other nation), since they would have to offer something pretty substantial to back whatever new currency they choose to use....

 

Have you read some articles on expatriates? Australia is the place many are giving up their US Citizenship for....

I honestly don't know too much about that country, how it's gov't...well...governs...but if I were to go anywhere, it would most definitely have to be English primary language...I am not going to learn Mandarin....I tried it 2 years ago and really sucked!!!

 

I don't know where the Amero nonsense comes from but it's certainly not going to happen. The biggest advantage of the $ is that it is still the world's reserve currency and that lets Washington and the Wall Streeters play all kinds of bad games with policy. It's the goose that laid the golden egg so there is no way they would junk ownership of the defacto world currency for a North American currency.

 

I have some acquaintances from the US who are currently working in Australia. Not giving up citizenship though. Singapore likes rich expats too. Their government has incentives for the wealthy to come make the country wealthier. I took a lot of Japanese language courses in college and know that language best, but FAR from fluent, illiterate would be closer to my level! Sadly, LOL! But fat chance doing anything in that country job wise unless you want to teach English to school children and homemakers.

 

That's a great point, why would America want to share currency with canada and mexico when we alone are the world's reserve currency...that is one FACT that I have yet to read on the conspiracy side of things....and it's a pretty fundamental fact too....

 

Do they get double taxed? Both US and Australia?

I always wanted to know what it would be like living in a completely different country (English speaking though) and see what freedom feels like elsewhere.

Find out from your acquaintances what are the downsides to Australia! I would love to know...

 

I have had friends from college who worked partial years in Europe and they used to brag about tax breaks they got in their US Income Tax, bigger returns, but I don't know what status you claim or forms to file, most of these friends used a tax preparer to benefit from this.

 

I will say that I do like some of the Amero coins from the Moonlight Mint. In fact I like most of their coins.

 

Yeah, the Daniel Carr's designs are not all that bad, just the monetary concept has problems.

 

They would be expatriates, so they are still supposed to file a US tax return. You can exlude up to a certain amount of your earnings. There are also foreign tax credits that would also reduce your tax liability. Since you are paying taxes on the income you are making in foreign country. This only applies if you live at least 330 days of the year in a foreign country. Or at least this is how I understand it.

 

Yeah the coins would be nothing more than collector's items.

 

I am right there. I looked on ebay today and my 2006 Buffalos proofs are going for $1300 each RAW! That's almost $4000 for 3 coins I only paid about $2400 bucks for. I'm definitely getting very tempted....:whistle: