Quote from: fluidjax on January 25, 2014, 01:32:52 PM

Quote from: Dr Bloggood on January 25, 2014, 12:19:07 PM

Quote from: stylin on January 25, 2014, 07:07:30 AM

Quote from: Ducky1 on January 24, 2014, 10:53:17 PM

JPMorgan's Gold Vault Has Biggest One-Day Withdrawal Ever
http://www.zerohedge.com/news/2014-01-24/jpmorgans-gold-vault-has-biggest-one-day-withdrawal-ever Shocked

I made my first purchase of gold and silver recently. With crypto earnings, lol. Got a good price just before it went up a bit. My question to you all is how likely do you think it is that gold will go to 1000 or 800? I want to pickup some more but at cheap prices...

800: Not happening.

1000: Very unlikely.

If you want to pick up some at cheap prices, you have the perfect time right now - calculated against the amount of fiat available, gold was probably never cheaper in the history of mankind. Also, it's rare you get the opportunity of buying an asset below/at its cost of production.

The opportunities on the upside are immense, the risks on the downside are relatively low by now.

Can you let us 'in' on your calculations? or was it an overstatement.

Ha ha, ok, I will admit that I have never calculated this myself (price of gold vs. amount of fiat) - however, I have read it from several reliable sources. So maybe it's an overstatement.

Probably not easy to get all the data in for that calculation. If somebody wants to give it a shot, they are very welcome! Anybody coming up with numbers to prove me wrong - I would love to hear them! I'm not here to defend an abstract idea of mine.