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Author Topic: Gold at $1,717.50 an ounce  (Read 230 times)

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Offline Sourdough

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Gold at $1,717.50 an ounce
« on: November 01, 2012, 08:21:31 AM »
I admit I have not been paying attention lately to the price of gold.  but I noticed this morning the welding shop next to the highway has the huge dump bed off one of those big trucks hanging from a crane in their yard.  Got to looking at what they are working on and was surprised at the amount of heavy equipment being worked on or being built.

Checked the price of gold this morning after returning home.  Looks like I need to go prospecting this summer.  Admit I haven't  The wife and her co-workers are planning to go pan some streams where they have seen color in years past.  I'm going to go and use my metal detector in the tailings of old closed mines.  Those big dredges missed a lot of stuff, mainly nuggets.  They were set up to remove dust and fine stuff. 

I know the miners up here have started moving in heavy equipment.  They have to take it in during the winter.  It's being staged already for transport to the mining locations.  Big backhoes, and dumps.  Welding shops are making shakers, and sluice boxes. 

Now the environmental groups and the NPS (National Park Service) are beginning to scream.  This equipment has to be transported across government lands to reach the mining claims.

Anti Pebble sentiment is turning into a real goat rope.  The environmental groups are running adds on the TV about how the salmon may not return to Bristol Bay.
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Where is old Joe when we really need him?  Alaska Independence    Calling Illegal Immigrants "Undocumented Aliens" is like calling Drug Dealers "Unlicensed Pharmacists"
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Offline Conan The Librarian

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Re: Gold at $1,717.50 an ounce
« Reply #1 on: November 01, 2012, 01:32:59 PM »
Sounds like a good idea. I'd love to be selling gold now. I remember when it was 35 an ounce. Dollar then was worth 8 times what it is worth now in purchasing power, yet gold is about 49 times what it was worth then, grossly overvalued today if the yardstick is purchasing power. Big sellers market today. Good luck.


By the way, all indications in this forum show that you really know howmto get a lot out of life. Good man!
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Offline Sourdough

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Re: Gold at $1,717.50 an ounce
« Reply #2 on: November 01, 2012, 02:02:06 PM »
Gold is used in a lot of thing people don't realize it in.  The airbags in our cars has gold contacts since gold never corrodes.  Gold is used in computers and cell phones.  All kinds of electronics and communications gear.  there is a big demand for it, that is why it is so valuable.
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Where is old Joe when we really need him?  Alaska Independence    Calling Illegal Immigrants "Undocumented Aliens" is like calling Drug Dealers "Unlicensed Pharmacists"
What Is A Veteran?
A 'Veteran' -- whether active duty, discharged, retired, or reserve -- is someone who, at one point in his life, wrote a blank check made payable to 'The United States of America,' for an amount of 'up to, and including his life.' That is honor, and there are way too many people in this country today who no longer understand that fact.

Offline Conan The Librarian

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Re: Gold at $1,717.50 an ounce
« Reply #3 on: November 01, 2012, 03:04:57 PM »
I remember when new york city retired the last ibm 360 mainframe in production several years ago. There was between two and three POUNDS of gold salvaged from it. It was their census computer, and it was replaced with a single desktop pc. At the time the typical pc motherboard had about one fiftieth of an ounce of gold on it. My dad used to go to auctions and buy gold plated low cost jewelry and soak it in a liquid to recover the gold. I never asked him what the liquid was. Did it for most of his life until he died so it must have been worthwhile. It had to soak for a long time, like months, i think.
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Offline mechanic

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Re: Gold at $1,717.50 an ounce
« Reply #4 on: November 01, 2012, 03:10:24 PM »
If you think of it, gold is worth exactly the same today as it was in 1920.  The dollar is just worth less.  In 1920, for one $20.00 gold piece, you could get a top of the line custom taylored suit.  Same today.
The $20.00 gold piece is just worth $1800.00 :o
Ben
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