Saudi's bought $3.5 BILLION worth of Gold in LAST 2 WEEKS

Discussion in 'Wall St. News' started by thriftybob, Nov 13, 2008.

  1. Makes you wanna say HMMMMMMM

    Looks like they are pretty willing to trade green paper for metal at this price if you ask me...

    http://arabianmoney.net/

    So now we know who's been doing the buying while they crushed gold prices
     
  2. ctheo1

    ctheo1

    GCC countries have made some dismal investment decisions in the last 12 months or so. perhaps a contrarian indicator for gold?:)
     
  3. Mecro

    Mecro

    Not clear.

    Is it gold or gold futures. Not the same thing.

    My guess, it's futures, knowing how stupid the Saudis are.
     
  4. Stupid Arabs still own an ass load of Naz 5000
     
  5. I have been hearing ramblings of a monetary shift over the last few months, if there was any truth to this, gold would be the single best play for this.

    Here is an IM thread I had this morning with an analyst-

    him (9:34:46 AM): 3 people I've talked to this morning are talking about how the G-20 is planning to re-monatize the money system
    him (9:35:03 AM): to combat bad debt

    me (9:41:49 AM): what does that mean?

    him (9:42:59 AM): It would be a strategy designed to ease the burden of ALL debts by simultaneously devaluing ALL currencies and re-inflating ALL asset prices.
    him (9:43:34 AM): a new dollar, which is potentially mix of Canada, US, and Mexico. A new euro and a new pan-Asian currency.
    him (9:46:48 AM): the US is the world's largest debtor (no doubt about that), but debts are now going bad all over the world. So everyone would benefit.

    me (9:47:03 AM): it makes sense
    me (9:47:08 AM): better get it going soon

    him (9:47:17 AM): why soon?

    me (9:48:56 AM): we are crumbling at a faster rate that many assume

    him (9:49:17 AM): if this goes down... then gold is the place to be

    me (9:49:26 AM): and oil

    him (9:49:33 AM): exactly

    me (9:50:52 AM): maybe this has all been planned for awhile now, why the treasury has been experimenting with new colors of bills/coins
    me (9:50:59 AM): see what works

    him (9:52:05 AM): possibly
     
  6. Saudi's bought $3.5 BILLION worth of Gold in LAST 2 WEEKS


    Good, they can have it. Take some silver along with it as a consolation prize.
     
  7. Mecro

    Mecro

    It's G-8, first of all, not G-20. Second of all, it's not "re-monatize the money system" it's essentially setting up a new Bretton Woods agreement.

    Major nations don't want to accept dollars anymore, they want repayment in their own currencies. Simple as that. They will probably set up a basket currency, or work off 3 regional currency floating against each other.

    Your analyst friend should retain me as a consultant, this way he can give you more accurate information.
     
  8. The "G"# is a representation of the nations present. There is a G3, G5, G7, G8 etc etc. You need to be more informed than you think you already are before my friend would talk to you, you have already failed the first test as a consultant.

    http://uk.reuters.com/article/topNews/idUKTRE4AB9GH20081112
     
  9. It's foolish to disregard the concept of NWO... One Central Bank, One World Currency, One Central Government, and a Gestapo-esq police force.... it all seems to be developing in that direction.

    The current turmoil with the USD being both at the heart of it and the reserve currency COULD be the excuse to make major changes.. including a New World Currency...
     
  10. It's G20 this weekend, mate. Check on it.
     
    #10     Nov 13, 2008