Wednesday, November 20, 2013

Gold Manipulation

It seems to me that the price of gold is being manipulated by the New York traders. When I go to EBay and price a 1/10 ounce coin I see that it went up about $30, today. Yesterday they were selling for $154; today the they go for $184.
The New York price went down about $20 for an ounce which means that the 1/10 ounce coins should be selling for $2 less, today.
The guys in New York (who trade virtual gold) seem to be in their own little world. I'm convinced that gold is really going up in price to the people who take actual possession of it. It's only going down for the people who have futures contracts or ETFs. Us people who want the real thing have to pay more, not less.
That shows how corrupt the financial system really is. There was an Internet story about an investigation into distorting the employment numbers, today. I don't feel that we can believe anything that comes out of the "Mainstream Media".
I even have doubts about Jim Cramer. He has a show on CNBC called Mad Money. I've been following him for the last 6 or 7 years. I did well with his advice in 2010 for a period of 6 months, but after that I lost money.
I'm convinced that Wall Street is just another way to transfer wealth from the poor to the rich. I've given up on stocks, bonds, options, and futures.
I now have my money in food, guns, and gold. I'm also getting into digital currency.
I'm still waiting for news from my bitcoin wallet. That's like a bank for bitcoins.
I should have my first bitcoin show up tomorrow morning. I've been quite anxious about it for a week or two, now. I messed up at first by giving them an old routing number. After I got that straightened out it took another week for the transfer to take place.
Now that I've got bitcoins the wait for bank transfers should be over. Bitcoins are supposed to make instantaneous transfers.
I read something today about a bitcoin competitor called litecoin. It's supposed to be to bitcoin as silver is to gold. It's cheaper and will be better supplied. I'm tempted to buy some of those with the money I was going to spend on bitcoins.
Digital currency is confusing so do a Google search on them, yourself. I'm not sure that I can do a good job of explaining them.
I'm concerned that I might be getting back into gambling with bitcoins. They are very volatile. That means I could make a lot of money with them; or lose a lot.
I feel that I'm just protecting myself for the inevitable currency collapse. Digital currency has no backing but that is better than the dollar (which is backed by debt).
Well, enough rambling for now. I'll probably post something after I get my first bitcoin, tomorrow.
Later

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