The Golden Truth: South Korea Joins The Global Race To Devalue Fiat Currencies

Monday, September 27, 2010

South Korea Joins The Global Race To Devalue Fiat Currencies

Bank of Korea intervenes overnight, selling won and buying U.S. dollars. Here's the news story: Link

This is just more fuel to support the next move higher in gold/silver. On a related note, Tulving http://www.tulving.com/ is the most sold out of gold/silver sku's as I can ever recall seeing. Other than gold/silver eagles and maple leafs, it looks like physical supply is growing thin...

11 comments:

AnonymousMonday, 27 September, 2010
not true, plenty available. You can buy 20 Oz that is $25K do you need more? A bit silly really. Plenty of coins available everywhere in any amount, just pay... you might have worse luck with finding good cherry juice \good quality. it is more rare than PM and black caviar as well if it is genuine, go and find!!!
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Dave in DenverMonday, 27 September, 2010
'tis true. go look at Tulving's website. he's the standard for retail avalailability because of the volumn he moves and he has by far the best retail prices.

to be sure, you can find enough of anything if you are willing to pay the price. but coin shops like Apmex and Monex can go fuck themselves. hell, you can always get a steak if you shove your head of a cows ass.
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AnonymousMonday, 27 September, 2010
I just looked at Tulving's website. It's cumbersome, convoluted, and not user friendly. Orders must be phoned in and the funds sent via wire--which is a big pain. APMEX's website is very clear, very user friendly, and purchases can be made with just a few clicks of a mouse. They accept payment via personal check, credit card or wire. Dealing with Tulving just seems to be a hassle.
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Dave in DenverMonday, 27 September, 2010
whatever dude. i buy gold and silver almost every week for our fund and Tulving is by far the easiest to deal with, best prices, quickest and free shipping and they rebate $15 for your wire expense.

I've bought from Apmex, Monex, CNI, and Miles Franklin and they don't even come close in terms of price, convenience and reliability.
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AnonymousMonday, 27 September, 2010
I agree with anonymous that Tulving's website suck and very hard to deal with. I would go with APMEX. Joe from Cali!
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AnonymousMonday, 27 September, 2010
I guess you guys buy volume. I ride my bike five blocks down Broadway and get everything I need from our friendly local merchant. Besides if TSHTF I got a local friend in the business I can trust. I'm going to take him some garden grown garlic and canned salsa tomorrow just to show how much I appreciate him. Hmmm, I think I'll give him a jar of pickles as well...
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Dave in DenverMonday, 27 September, 2010
Hey yf. You talking about Dave's Coins on Broadway? He's a good dude.
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AnonymousTuesday, 28 September, 2010
APMEX and Gainesville Coins received the best ratings in a recent review by the National Inflation Association. They get high scores across the board for price, selection, shipping/processing, and customer experience. Please read the review at http://inflation.us/reviews/.
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AnonymousTuesday, 28 September, 2010
Some thoughts on the dollar reserve, currency, and China:

http://wallstreetbear.com/board/view.php?topic=74475&post=258090
http://wallstreetbear.com/board/view.php?topic=74475&post=258118
http://wallstreetbear.com/board/view.php?topic=74475&post=258120
http://wallstreetbear.com/board/view.php?topic=74475&post=258127
http://wallstreetbear.com/board/view.php?topic=74475&post=258134

http://wallstreetbear.com/board/view.php?topic=74532&post=258322

http://wallstreetbear.com/board/view.php?topic=74514&all=1

JJ from WSB
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U-6Tuesday, 28 September, 2010
No, it's Tulving by a mile. I've bought from CNI as well as looked around at almost every other online gold seller, and Tulving has the best spreads by far. If picking up the phone is a hassle for you guys, I don't know what you consider easy. Anyway, I've ordered from Tulving on weekends via email, and their phone is good 24/7.
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AnonymousTuesday, 28 September, 2010
Supply Squeeze of Physical Gold and Silver May Be Heating Up

http://news.coinupdate.com/supply-squeeze-of-physical-gold-and-silver-may-be-heating-up-0465/
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.