How low can gold go? $587/oz.

[ziparmux]

WOW hang on a min, I'm no expert on this, even I know that inflation is not properly represented in the present value of gold, if it was it was gold be around $5000+ an oz today. Silver is another spectrum completely, and frankly it's so ridiculously cheap it beggars belief.. I buy all the silver I am able to afford, it's one of the most manipulated commodities on earth. The reason why is far beyond the mandate of this channel. Buy silver, short term nil, long term 5-10 yrs, more than gold

[mattyelle1]

@ziparmux big time. im buying too! silver is ridiculously cheap!

[binky4647]

Interesting to read older quotes now we know whats happend.

Enter another dimension of sight and sound.

Welcome to the twilight zone!

[kensho3]

what a coincidence, silver is STILL about $14.00 (as of today 2010!). Oh, well, it's gotta break out at SOME point.

[garyomglol]

silver price was high because of market manipulation...it then crashed and people who bought silver went homeless.

last year the worlds mining facilities smelted 18000 tons of silver. The silver price has already peaked at $ 17 and those who buy silver today would again loose their ass off. Just be careful and don't buy what you can't afford to lose.

[garyomglol]

@garyomglol silver price was high in the 1980s at $ 50 /oz due to market manipulation

[mark7996]

@garyomglol any comment on your comment 11 months ago? have a mild taste of foot in the mouth perhaps?

[garyomglol]

@mark7996

go ahead and buy today at $ 27 an once, I'm not stopping you. Tell me how many coins you gona get. 2 or 3? LMAO!

[mark7996]

@garyomglol, let me simplify my original statment and your original comment to help you understand. you stated, purchasing @ 17, 11 months ago would not be a wise investment. i stated that it seems you were wrong. that's it. and perhaps open you mind to the possibility that it can go much further. my quantity of purchase or holdings at whatever price is irrelevant and presumptious on your part.

[planetcave]

Gold may very well hit $2,000 per troy oz. but I won't be exchanging $2,000 in greenbacks and goods for it. Lets backtrack these speculative chats about 3 to 4 years ago-weren't we talking about housing? Aren't you people tired of being hosed by now?

[ulysseinvest]

Bibleprophesy, question for you.

Why do you use M3?

Why not M0?

It feels like M0 being the amount of money printed into circulation (and not the total amount of how much people lend to each other) be the main factor defining the value of a given commodity (assuming usage and amount of this commodity along with population does not fluctuate in time) but I could be wrong.

Can you help me understand why you use M3 instead of M0 when you computer your numbers?

Thanks.

[marxbitesall]

@ulysseinvest

Fractional reserve - look it up - they can lend out 9 dollars for every one on deposit. No other industry monopoly cartel gets that much subsidy off the taxpayer. Free interest from free money via legal counterfeiting - KGIIIs own huge indebtedness to the banksters - the largest in all history - is why he put the arm on colonists to help pay - and we booted his ass away for.

The revolution was about freedom FROM banker debt, and govt's that succumbed to them. Now all have.

[ulysseinvest]

Sure but up to M2 (& eventually M3) the money supply fluctuates in speed with the economy. If no-one borrows from banks then M2 can contract while M0 remains the same. M0 is like the nob of a very long water hose - in that it takes a while for the fluctuation in the money supply to splash end prices. M0 is also like adding to the pillar of a house that was starting to slide towards a more balanced location, once you've added to M0 you usually can't remove any of it without any pain...

[beswick1111]

gold now at $990, silver was $17.70 now $16.04, gold will get to $960 soon and silver probably back to $14 id guess.

[aslomski]

WRONG!

[stang661]

CORRECT!

[aslomski]

WRONG!

[videolover61]

Better jump on gold now...the new gold rush is here. get it before the collapse of the dollar, cause then most people wont be able to afford it.

[lorax2013]

Brilliant. Great video. I always use this M3 method to guess the range for commodities. IMO it is probably the best and least known method for guessing prices.

[Nobbyclark1971]

Gold will go to over $1000. Gold is a currency. Expect $2000 in the next few years.

Depression is coming. Paper will be worthless.

[zardcat1111]

brilliant prediction

[fursatali]

@Nobbyclark1971 You were right my friend!!

[MrNobster]

@fursatali lol. Nearly there aren't we. Should see this go a lot higher with all this debt around the globe. $10,000 quite possible. But first i want to see $5000. I don't really want to see it as it means big time trouble coming but i do hold physical gold for my sins.

2014-2015 is my time frame to sell some but a lot can happen to change that idea. Good luck to everyone.

p.s also go long of seeds for your garden. You can also use to sell/exchange for other items with others.

:))

[tommy35ss]

@Nobbyclark1971 I wish I had paid attention to and understood fiat currency when this video was uploaded, not that I watched it or anything, I just turned 16 lol. What you said though is about to pass, I have a grim out look on the U.S. economy like you but I stand to profit off it now. I think by 2013 we will have a had a run on the dollar or it will be happening but it's just a hunch

[Eggy0]

Is it not true that M3 doesnt need to be backed by gold in order to support the money supply, only M0, which is vastly smaller giving a much lower min price for gold.

[marxbitesall]

One expert calcs that silver should be at least 1/4th to 5 times the price of gold being 5x scarcer, silver is uded up, almost all gold mined still exists.

Meaning a possible AG price of $250 - $5000 when AU gets back to $1000

Food for thought. Do not forget that silver more than gold has played the greater role as coin throughout ALL history.

Govts and kings always seek to rob their people - fiat and debasement are the means. W/o Govt control of money, people are always more free.

[jasy221]

Cowboy do you have gold,silver, i want to buy silver,but everyone says, dont pay too much over spot,dont buy eagles e.t.c, but the problem is now even rounds are $5 over spot and even junk, silver sellers dont follow spot prices, if i want silver i have to pay twice spot, silver has to double in price just to break even, but i still want some as it shows investment demand is picking up.

[cowboycarl04]

For those that still dont' understand what he is saying. In 1971, $35 back then (which is what gold was worth) is now $587 in 2008 money.

This shows how awfully inflated our real money is today. To give you another idea, the $850 price of gold in 1980 is like $2500 in 2008 money.

So guess what folks, we are no where near the peak of gold. It can "fall" all it wants... more for you to guy and store your wealth.

[dooglus]

He's dividing by the amount of dollars then and multiplying by the amount now, but shouldn't he also take into account the increase in the amount of gold over the same period? Gold is mined all the time, so wouldn't you expect there to be more of it in circulation now than then?

[fox20012]

damn this guy seems smart

[Achillesandwisdom]

boy was he wrong lol! look at the price now

[fox20012]

why was he wrong? you mean it didn't go down to $500, thats why hes wrong? Cause if thats what you meant you might have missed the point of the video.

[DeeHong]

He's right!!! look at the price of gold !!! more than that number!!!

[deauzie]

what is silver worth today

[Pressence101]

check silver prices at monex . com

[MYFreeSpeach4U]

12.57oz, the Gold and silver market has just crashed, its fell 7 buck in the last 5 days(silver)

[ontariosfinest]

Its over 1000 in March 08! Steady climbing...

[k9iou]

WILL GOLD GO TO $2000 PER OUNCE ???

[k9iou]

WILL GOLD GO TO $2000 PER OUNCE ???

[AcomsRazor1776]

IT's been steadily FALLING since march. 855 an Oz now.

[gwho]

what???? golds gonna go up! it's over 900 now in feb 2008. the crash of fiat currency is what brings all commodities up.

how do u even know m3 now? they don't publish it? do you have another method of calculating it? because if you do, we really need it back!

[WaitHuhSayWhat]

i agree... how did you get the M3 because they don't publish it!

[chtyrice]

There are private organizations that calculate the M3 based on public information. Just because the government no longer reports M3 does not make it unreportable.

[bluedonkeyman]

shadowstats dot com

[bluedonkeyman]

jason knows everything

[maddogg1234]

africa still suffer

[bassfishers]

Own 22# of gold. funny thing is, if it goes up or down, you feel secure. Try telling this to the enron guys.

Bought silver ingots from a local mine at $4 an ounce in 1000 oz bars back in 98. Needed a pickup truck to haul away $50K worth. They also had 400# ingots of copper at .34 a lb., that was the better buy, who knew?

[panther9mm]

they could melt down the silver coins?

[sw640]

I bought about a pound of gold when gold was between 350- 550 an ounce. I wish I would have bought ten pounds.

[bassfishers]

Palladium was $43 when i bought silver at a local mine in 98.  It hit 1000 in 2001. I think i'd rather hold gold, silver, pld or plat instead of paper, but that is me.

Stock market is fixed, those billionaire brokers make our money their money.

[Edlearn1234]

Gold went to $850 an oz for different reasons then it is rising now. It is not a good comparison.

[sh200kr]

yes!

the reason today is only better for gold~

[Edlearn1234]

True, many other commentators also use the $850 price of 1980 as a benchmark. The only reason for $850 gold in 1980 was the Hunt brother's attempt to control the silver market.

I do believe that gold and silver will keep gaining. How high? That's anyone's guess. The simple fact that the Canadian dollar now has more value than the USD is proof enough.

[sh200kr]

who is Hunt brother?

I gotta research~

thanks for the info!

[Edlearn1234]

Great story, They were sons of a billionaire oil baron. There plan was to own all the silver in the world! With the help of some Arab's they were able to control half. This caused the price to sky rocket. Gold followed the ride, as the price of gold and silver always reflect each other.

The USA plus other major Governments dumped all there silver on the market, dropping the price, and the Hunts went bankrupt.

The government also charged them with all kinds of violations.

[sh200kr]

I read articles about them...

so sick...

if this story is true, then late 70's and 80's may not be so similar as current inflationary trend...

Then, is the expectation of future price of gold and silver too high?

Please, reply~

thank you!

[Edlearn1234]

This story is 100 percent true. I lived through it.

Yes, you are correct. We can not compare the rise in gold and silver of then to the price gains of today. The trend for the last 5 years has been striaght up, as our dollar looses it's value.

Back then it was a bell curve. You can check a site called Kitco dot com you can pull up charts.

[sh200kr]

isn't current trend much more dire for U.S. dollar and great for gold?

the devaluation of U.S. dollar seems to continue and the current bull trend for precious metal is only the beginning.

Also, similar think is happening as during late 70's and 80's because now Warrent Buffet own most of the silver in the world.

[marxbitesall]

Jason tells the truth. Do you really believe someone who paid for his newsletter and is not happy with it doesn't know the exact price he paid??

Study money, it's history and economics at mises "dot" org and get the real education Govt and it's shills in media & academe have denied Americans for 100 years.

mises is the real deal that scares ALL criminal tax and spend politicians except Ron Paul who will abolish the Fed, IRS & Income Taxes.

[sodarntired]

I subscribed to your newsletter at an approximate cost of about US$350. I received 1 issue only and was left to dry. You are a scam artist and hide behind the veil of the bible. Shame on you!

[fatuesque]

It's just math,gold will NEVER go as high as this guy thinks.

Property + land in upcoming countries like bulgaria is dirt cheap and a great investment.

[favouritemartian]

That would mean shifting to Bulgaria as well...Buying Bulgarian property while resting in US is as dumb as it gets...coz then u'd be exposing urself to proxy fraud and greedy agents...real state is never liquid while gold and silver are as liquid as it gets...

what if you have to encash your real estate investment and there is no buyer because nobody would be interested in your Bulgarian villas or châteaux...

This guy is talking extreme sense...only you don't seem to or can't get it...

[fatuesque]

Besides that,this guy talks about "going back in time" and back to the future too much.

[fatuesque]

Why is "gold always going to have some reasonable value"?

The dutch used to trade tulips for the same price as houses.Markets crash.

Property is a good investment.

[LeftLiberalSoCal]

Lol! Property? Not anymore! Where have you been?

[favouritemartian]

tulips??????? Are you hallucinating or what???

[fatuesque]

It's true, the people in holland in the 16th century went crazy for tulips and would pay fortunes for them, then everyone realised how dumb they were and the market crashed.

There's hardly any money to be made from gold, and as i said i have found a far better investment which offers me 10 times my investment and it's more liquid than gold.

It is also legal in case u wre wondering lol.

[Raphael618]

Jason Hommel is 100% correct. His numbers are acurate. Gold is being given away because of lack of this knowledge, as well as central bank intervention. Buy Gold now!!! VOTE RON PAUL 2008

[teemu1381]

better listen to clark kent,he knows what he's talking about.educate yourselves and stop believing in pieces of paper.buy silver now!

[thevidmachine]

Clark Kent.... of course! I kept wondering who Jason reminds me of. I think a good end to all of his videos would be to remove his glasses, rip his shirt open (revealing a large 'S' logo) and jump off his chair. Seriously, though, good video.

[teemu1381]

Yeah, He totally reminds me of Superman.He should have a strand of hair going down his forehead.I think everyone should listen to this Intelligent SuperMan

He offers free information alot and explains money real well.Take the time everyone and learn money

[lorax2013]

Great video - I really like his video about "silver is untaxable" too. Other good videos on precious metals investing are under "sussmank" and "lorax2013"

[moonshot5]

Try the Bank of Nova Scotia AKA Scotiabank. They are one of Canada's largest dealers,and have an international presence.(I haven't been paid for this endorsement,LOL)

[thermalfreek]

Where would be some of the best places that you could recomend for one to aquire gold and silver?

[Dumbell99]

Coin shop, or online. I would not go to a bank just in case the government tries to take gold again like they did in the 30's because banks would go after you perhaps.

[tedsaidit]

I predict gold will- at a minimum- top USD $2,000 sometime within the next five years. You can quote me on it.

[slipmatwax]

yes I can believe this when considered against the US Dollar which is devaluing

[LuvernSmalls]

see u at ur trailer home in 2012 when the world is going to end lmfao

[asdlfkjaslkjdfajdslf]

Pointless calculations, give us your prediction or save it. Any moron can say gold CAN go to 587 also gold CAN go to 400 and it CAN go to 800. Whos gonna stop it, you?? It CAN do a lot of things. CANs are no good for anyone.

[enki00000]

So you want a guess instead? Idiot.

[bibleprophesy]

I agree I used a "weasel word" as wikipedia calls them by using the word "CAN". However, the calculations were not pointless, they are a good, reasonable, rational, basis for determining possible lows and highs for gold. We discussed this further at the Hommel Forum already. If you have a better idea, then by all means, please share for the good for everyone.

[jasy221]

the thing about silver rather than gold, is that it is like buying cheap options instead of stocks,but unlike options, silver doesnt decay with time, you can spend 10 times less money on silver than gold and still make 100% more,plus you get a beutiful coin,and a metal heavily used in industry,not just jewellery like gold. i could spend $1000 on silver to someones $10,0000 in gold and still make double their profits, why? because its too cheap,thats the whole point.