Sunday , 21 April 2024

Don’t Even Consider Selling Your Gold Until…Until…. (+2K Views)

The plummet in gold prices has all gold holders perplexed and less wealthy so what’s the little guy to do, assuming he hasn’t already disappeared and is cowering in a corner somewhere?  Below are some answers.

So writes Monty Pelerin ( in edited excerpts from his original post* entitled What To Do with Your Gold.

This post is presented compliments of Lorimer Wilson, editor of (Your Key to Making Money!), and the FREE Intelligence Report  newsletter (see sample here). The post may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. You can alsoFollow the munKNEE” daily posts via Twitter or Facebook. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.

In times like these, the weak panic and get out and the strong get in. If this is a manipulated event (and it certainly appears to be so), then the big money will be accumulating gold at these prices. That’s fine if you have oodles of money but what’s the little guy to do, assuming he hasn’t already disappeared and is cowering in a corner somewhere?

Peter Souleles would not “even consider selling gold until…until….

  1. Until someone can explain to you where all the big green boxes of silver eagles you could find on  ebay have gone.
  2. Until someone can explain why you are confronted by overpriced and limited stock offerings when you type in gold bullion (newly listed).
  3. Until the FED allows Ron Paul to head and appoint an audit team that will verify exactly what physical gold the US holds on behalf of its people as well as foreign nations.
  4. Until the FED actually sells its gold to prove that it is a barbarous relic without any intrinsic value.
  5. Until China actually announces what its gold holdings are.
  6. Until China, Russia and other central banks stop buying gold.
  7. Until someone can tell us all where Libya’s gold is following the overthrow of Gaddafi.
  8. Until someone can explain why literally every coin shop and bullion dealer has been confronted by far more buyers than sellers.
  9. Until the USA stops raising its debt limit.
  10. Until the FED raises interest rates to a level that equals the REAL inflation rate plus 2%.
  11. Until the governments of the world can unanimously guarantee that there will be no further culling of bank accounts as happened in Cyprus and that such behaviour is not part of a new template for “saving” our economies.
  12. Until governments such as Canada withdraw proposed legislation authorising bank deposit haircuts in future.
  13. Until the FDIC and its equivalent in other nations no longer find it necessary to guarantee deposits (even in limited fashion). After all, Cypriot bank accounts up to 100,000 euros are guaranteed but still remain inaccessible for total withdrawal so what kind of a guarantee is that?
  14. Until new gold production outpaces population increases which is in stark contrast to worldwide behaviour by Central Banks printing money.
  15. Until gold ore grades rise dramatically or production costs fall dramatically.
  16. Until food [stamp] recipients (currently at 47,791,966) fall to pre GFC levels of just over 26 million in 2007.
  17. Until they can explain how the stock market continues to climb in the face of so many deteriorating indicators.
  18. Until they jail Corzine, the bankers who launder drug money, and the bankers who manipulated LIBOR amongst others.
  19. Until they put an end to fractional reserve banking and…[prevent] banks from leveraging to obscene levels.
  20. Until women stop wanting gold jewellery.
  21. Until you believe that governments will not eventually in some manner nationalise your 401k’s and IRA’s.
  22. Until sales of paper gold and silver cease to take place.
  23. Until the people of India start selling their gold in bulk. (In Sydney Australia I was told by one bullion dealer that Indian people were lining up as if his office was a soup kitchen.)
  24. Until the German Government actually gets all of its gold back – or are they powerful only when it comes to little countries like Cyprus?
  25. Until someone can explain what will happen to South African gold mine economics and production in view of the higher wages negotiated last year and the plummeting prices of precious metals.

Other commentators who are far more knowledgeable than I will no doubt add their own comments both quantitatively and qualitatively to what I have written [above]. The point is. however, that the fat lady who has appeared on stage to sing the funeral requiem for gold is none other than a certain banker in disguise…

The gold canary may have been temporarily silenced but silencing the canary does not avoid the explosion in the mine taking place at some stage.”

Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.


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One comment

  1. and don’t forget to add:

    #26 Until HELL freezes over…