Daily Truth Pills

Hosea 4:6 My people are destroyed for lack of knowledge…

Posts Tagged ‘Gold is real wealth’

Gold Buying Panic In China: 10,000 People Wait In Line For Their Chance to Own Precious Metals (Stunning Pictures)

Posted by truthpills on 2013/07/04

Mac Slavo
June 14th, 2013

One day in the near future Americans will finally realize that their money is being devalued at a rapid pace. For the time being the price increases are somewhat muted by official announcements of inflation being under control at around 2% and purported economic recovery on the horizon. The Federal Reserve and the US government are doing everything in their power to maintain a perception of stability.

But what happens when all the machinations are proven to be fruitless during the next stock market crash and currency crisis?

That’s when people panic. That’s when they start mass selling assets that hold no true value, and shift their capital to physical goods that store and preserve wealth.

In China, where the central government has manipulated the currency, economic and financial markets for decades, the people have seen it all before. And they aren’t taking any chances.

While the paper price of gold and silver may have dropped nearly 25% this year, it’s clear that demand in the real world is soaring.

If you want to know what it’s going to look like in front of precious metals dealers when confidence in our government’s ability to manage this crisis is finally lost for good, then look no further than the streets of China.

The following pictures, taken in Jinan in the last 48 hours, depict some 10,000 Chinese citizens lining up to buy physical gold, providing all the evidence you need for the argument that gold is, in fact, money.

These are absolutely stunning.
Read the full article

Posted in Economy, Finance, Survival-Prepper | Tagged: , | Leave a Comment »

Gold rush grips China as people on buying spree

Posted by truthpills on 2009/12/31

December 29, 2009 06:55:00 IST

BEIJING (Commodity Online): As the year nears to a close and 2010 is all set to shine, there is gold glittering in the Chinese landscape. There is a mad gold rush going on across China as people are on the streets, swarming gold jewellery shops to buy coins, bars and ornaments during an year-end shopping spree.

China is today the world’s largest gold market. China recently overtook India and emerged as the largest gold consumer in the world. The dragon land is the largest global gold producer.

In this following feature, China Daily reports on the ongoing gold rush in China:

“Gold jewelry sales jumped more than 30 percent over the weekend in Beijing, as bargain shoppers swarmed the city’s major jewelry stores on year-end promotions.

In a collective sales campaign after international gold prices fell, stores including Caibai, Gongmei and China Gold reduced the pure gold’s price by as much as 9 yuan per gram, with more Christmas-themed jewelry designs for shoppers to choose from.

According to the Beijing Morning Post, the China National Gold has doubled its sales to 40 kg per day. Caibai, the largest gold store in China, reported 30 percent more business than last year over the weekend after they drop the price from 278 yuan to 269 yuan per gram.
Read the full article

Posted in Economy | Tagged: , | Leave a Comment »

Gold $5000+

Posted by truthpills on 2009/11/18

Watch the short clip

Posted in Economy | Tagged: | Leave a Comment »

GOLD: Breakout Alert – Powerful Uptrend Imminent – target and trajectory…

Posted by truthpills on 2009/10/08

By Clive Maund | Oct 6 2009 10:07AM

Originally published October 6th, 2009

The impending gold breakout has been so long in the making that it has engendered a “we’ll believe it when we see it” mentality amongst most market participants. What this means of course is that most will miss out on the big easy gains that will accrue during the dynamic phase of the next major uptrend and will turn up late at the party, as usual. We ourselves have had lingering doubts engendered in large part by the perceived risk of a dollar rally, but these doubts are now dissipating for reasons that will be set below.

When you follow something on a day-to-day basis, or even an hour to hour basis, it is easy to slip into a situation where you “don’t see the wood for the trees” and the best way to combat this natural tendency is to zoom out and look at long-term weekly or even monthly charts. So that is what we will do now.

On the 5-year weekly chart for gold we can see that everything is now in place for a MAJOR RALLY in gold to commence. It has managed to hold the high ground for weeks following its upside breakout from a Triangle, and is repeatedly pushing at the resistance approaching its highs. Yesterday’s action was strongly bullish. With all moving averages in bullish alignment, THIS RESISTANCE IS ABOUT TO FALL.
Read the full article

Posted in Economy | Tagged: , | Leave a Comment »

Gold and Why Gold Now

Posted by truthpills on 2009/08/20

Darryl Robert Schoon
Posted Aug 17, 2009

Understanding these times is its own reward. If, however, you understand the role of gold in these times, a reward of another magnitude awaits you.

Economic cycles of expansion and contraction are the inevitable result of central bank credit flows. So, too, are deflationary depressions and hyperinflations. Though far less frequent, the destruction caused by deflationary depressions and hyperinflations more than make up for their infrequency; and, today, after perhaps the longest absence of each in recent history, we are now about to experience both – perhaps this time in tandem.

This will not be just a deflationary depression, it will be deflationary depression accompanied by a monetary crisis of epic proportions.

The sudden on-set and virulence of the current economic crisis caught economists and central bankers by surprise. Having successfully dismissed those who disagreed with the spread of central banking and its illegitimate off-spring, fiat money, central bankers and economists were stunned when their world of paper money suddenly collapsed in 2007.

Were it not for the unprecedented flood of government aid in 2008, private bankers would have been swept away just as they were in the 1930s. But, instead, private bankers were rescued with public funds, funds which allowed them to quickly return to their avocation of profiting from the indebting of others.
Read the full article

Posted in Economy | Tagged: | Leave a Comment »

South Korea to buy gold, expecting it to replace dollar

Posted by truthpills on 2009/07/09

Bank of Korea to Buy Gold for First Time in 11 Years

From Dong-A Ilbo (East Asia Daily)
Seoul, South Korea
Saturday, July 4, 2009

The Bank of Korea has not purchased gold for 11 years but is expected to go on a gold buying spree, as the world’s central banks have bought the commodity since the global economic erupted in September last year.

A Bank of Korea official said yesterday, “The bank has begun to set up a plan to manage foreign exchange reserves for next year. It has also closely watched central banks in other nations and trends in the global gold market. Given the changing global financial environment, the bank’s management plan is critical.”
Read the full article

Posted in Economy | Tagged: , | Leave a Comment »