Wow! According to my calculations 400 (troy=31.103grams and 454 grams per pound) ounces is 27.429 lbs. And you want to trust that you actually own gold by purchasing the ETF this guy created. He says 34 lbs. And if you read the prospectus for the GLD they are not obligated to pay you for the "gold" you have purchased. It is a scam! Check out goldmoney (dot) com for true ownership/deliverability of gold.
I agree; there is a chance that silver will go to parity with gold, even if it be for a short time. Let us face it, silver has more applications than gold. We live in an ever evolving technology age. The more tech we get, the more silver we consume. The USGS has said that by 2020 we could see silver be the first element to be extinct. Now, we obviously cannot have that happen. That means that silver has to go to a price where it is highly profitable to recycle it. So, if you're poor get silver.
I have silver bars that size once the truth comes out about silver my 100 oz bar will be worth 1/4 of that 400 oz bar. Yes 1 oz of silver will have the same value of 1 oz of silver some time in the next 10 years.
GLD shares are probably oversold in that there may only be one Oz., of gold for each Troy Oz. promised. When the music stops, and it will, there are going to be a lot on unhappy GLD 'paper gold' holders left holding only their paper IOUs.
If you buy gold, buy known quality coins or small bars from a reputable source. Do your homework (due digilence) and you won't get stuck. It's very hard to coin tungsten as it is very hard, compared to much softer gold,
It's impossible to tell, but I wouldn't be surprised to find that they are pure gold bars. There are three security guards in the camera's view. My guess would be that another half-dozen are behind the camera.
He's pushing them as 35 pounds apiece. My calculator says 400 / 16 is 25 pounds. Furthermore, in the interest of solvency, most people buy ounce bullion coins form a mint like Austria's and won't need to be assayed. Can't wait to hear more about the tungsten cores. Fort Knox?
LOL! This punk says if you own gold bars you need to get them assayed to sell them. Then he says the GLD bars don't need to be assayed if you sell your GLD. HAHA! Why don't they need to be assayed?! He is basically saying, "Don't worry, trust us". Friggin tungsten pusher.
So gold should be 6000 dollars when the US is on a gold standard? I don't think so. It should be 60000 dollar per ounce if paper is totally backed by real gold. And that can even change dramatically to the upside soon
Even with a gold standard, money is not completely "backed by gold." Much money does not exist on paper, yet is used in everyday spending. Everytime that a deposit of 100k is made, 95% of it doesn't even stay in the account. This is a funcion of the reserve deposit requirement. That 95k never has to be printed yet it exists.
A 100% gold standard is a bad idea for the US at present. Any one in econ will tell u that. But a partial standard could help to curtail drunken political spending
@truont GLD is the index fund. You dont need your gold bars assayed when you own GLD because you have no physical possesion of gold. You hold a "stock" of it.
Wow! According to my calculations 400 (troy=31.103grams and 454 grams per pound) ounces is 27.429 lbs. And you want to trust that you actually own gold by purchasing the ETF this guy created. He says 34 lbs. And if you read the prospectus for the GLD they are not obligated to pay you for the "gold" you have purchased. It is a scam! Check out goldmoney (dot) com for true ownership/deliverability of gold.
hairbones 2 years ago
everything on the screen except the bloody date.
babaybb 2 years ago
i can haz a bar? no? :(
captvanhalen 2 years ago
im going to cry, i wanted to invest a shit load of my money in gold like 6 months ago. fuck my life.
saveGOP 2 years ago
I don't know why he said we would have to assay gold coins....not if they are the commonly traded coins, like Eagles, Mapleleafs etc.
tacitus7 2 years ago
I agree; there is a chance that silver will go to parity with gold, even if it be for a short time. Let us face it, silver has more applications than gold. We live in an ever evolving technology age. The more tech we get, the more silver we consume. The USGS has said that by 2020 we could see silver be the first element to be extinct. Now, we obviously cannot have that happen. That means that silver has to go to a price where it is highly profitable to recycle it. So, if you're poor get silver.
Tasadaru 2 years ago
Due to all the tungsten that has been used to fill up Fort Knox with FAKE gold bars.
Tungsten is now rarer in above ground supply than gold (not really).
Soon (when the dumb public catch on) my old set of darts will be worth a fortune.
Ha Ha.
NowisEvollovetion 2 years ago
There are 12 troy ounces per pound, not 16. A troy ounce is heavier than an avoirdupois ounce.
Heardjunk 2 years ago 2
those bars don't look right.. damn tungsten i agree
stshell 2 years ago
If you don't hold it, you don't own it!!!
DontTread0nMe1776 2 years ago 3
I have silver bars that size once the truth comes out about silver my 100 oz bar will be worth 1/4 of that 400 oz bar. Yes 1 oz of silver will have the same value of 1 oz of silver some time in the next 10 years.
Study silver the information is out there.
davincij15 2 years ago
Why wait 10 years? 1 oz of silver already has the same value as 1 oz of silver right now! :)
truont 2 years ago
Type-o 1 oz of silver same 1 oz of GOLD.
MY bad.
davincij15 2 years ago
invest physical, or you'll look through your fingers at one time
stoneeh 2 years ago
GLD shares are probably oversold in that there may only be one Oz., of gold for each Troy Oz. promised. When the music stops, and it will, there are going to be a lot on unhappy GLD 'paper gold' holders left holding only their paper IOUs.
If you buy gold, buy known quality coins or small bars from a reputable source. Do your homework (due digilence) and you won't get stuck. It's very hard to coin tungsten as it is very hard, compared to much softer gold,
brojiml 2 years ago
It's impossible to tell, but I wouldn't be surprised to find that they are pure gold bars. There are three security guards in the camera's view. My guess would be that another half-dozen are behind the camera.
toeg1 2 years ago
liz clamen is hot!!
finster37 2 years ago 2
those are aluminum ingots painted gold
1RoaringMonk 2 years ago
Tungsten has virtually the same weight as gold, and there is evidence mounting that FortKnox is filled with gold covered tungsten bars.
Google it.
davincij15 2 years ago
He's pushing them as 35 pounds apiece. My calculator says 400 / 16 is 25 pounds. Furthermore, in the interest of solvency, most people buy ounce bullion coins form a mint like Austria's and won't need to be assayed. Can't wait to hear more about the tungsten cores. Fort Knox?
rfvgytr 2 years ago
Gold is weighed in Troy ounces of 12 to the Troy Lb. These bars are about 36.5 grocery store Lbs., which are aviordupois Oz., @ 16 to the pound Avdp.
There are many educational conversion tables on the 'net.
"The only thing more expensive than education is ignorance."
brojiml 2 years ago
There are 12 troy ounces in a pound. It is not a regular ounce. Recalculate brother.
Ericg 2 years ago
LOL! This punk says if you own gold bars you need to get them assayed to sell them. Then he says the GLD bars don't need to be assayed if you sell your GLD. HAHA! Why don't they need to be assayed?! He is basically saying, "Don't worry, trust us". Friggin tungsten pusher.
truont 2 years ago 4
So gold should be 6000 dollars when the US is on a gold standard? I don't think so. It should be 60000 dollar per ounce if paper is totally backed by real gold. And that can even change dramatically to the upside soon
ewffaces7 2 years ago
Even with a gold standard, money is not completely "backed by gold." Much money does not exist on paper, yet is used in everyday spending. Everytime that a deposit of 100k is made, 95% of it doesn't even stay in the account. This is a funcion of the reserve deposit requirement. That 95k never has to be printed yet it exists.
A 100% gold standard is a bad idea for the US at present. Any one in econ will tell u that. But a partial standard could help to curtail drunken political spending
TrueUSAPatriots 2 years ago
@truont GLD is the index fund. You dont need your gold bars assayed when you own GLD because you have no physical possesion of gold. You hold a "stock" of it.
chrisMcG17 1 year ago
Five Tungsten Bars, security not needed.
traynickel 2 years ago 3
lol!
nanaroborovskii 2 years ago