Tag Archives | Gold

Cracked Mayan Code May Pave Way to ‘Eight Tons of Pure Gold’

By on March 2, 2011 in News 31
Lake Izabal seen from space (NASA)

Lake Izabal seen from space (NASA)

Mayans, Gold, “666 B.C.” and 2012 just around the corner…Why do I have a bad feeling about this? Fox News Latino reports:

Led by Joachim Rittsteig, an expert in Mayan writing, a group of scientists and journalists left Germany Tuesday, on a mission to Guatemala in search of a lost Maya treasure allegedly submerged under Lake Izabal.

According to the German newspaper Bild, which sponsored the expedition, the expedition includes two reporters from the publication, a photographer, a television camera, and a professional diver who will submerge into Lake Izabal in an attempt to find eight tons of gold said to have been lost there.

The expedition is led by Joachim Rittsteig, an expert in Mayan writing, who claims to have cracked the famous Dresden Codex and discovered specific information in one of its chapters that leads to a treasure in Lake Izabal.

“The Dresden Codex leads to a giant treasure of eight tons of pure gold,” said Rittsteig, who has spent more than 40 years studying the document, to Bild…

For more information, see original article.… Read the rest

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Next Gen Biological Computers Use Gold And DNA

By on January 31, 2011 in News 12

DNAGold, DNA, Future Tech. Let the apocalypse/conspiracy theories fly. io9 reports via a Nature Materials article:

Researchers have fabricated a lattice out of gold and virus fragments. It could make your computer much faster. And turn it into a biological machine.

Optical computing technology, a growing field in the tech sector, involves computers that send data using beams of light. In order to expand the capabilities of optical computing, engineers are required to find materials that manipulate light very precisely. Photonic crystals are one such helpful material. A photonic crystal can block very precise wavelengths of light, making it a great optical tool. But creating such a crystal is a challenge. Now scientists have tested a new method for making them, and they have done using the coolest materials possible: Gold and virus parts.

Tiny gold nanospheres and pieces of virus were hooked together using strands of DNA. The DNA pieces were created specifically for the experiment.

… Read the rest

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Gold-Dispensing ATMs Arrive In The United States

By on December 21, 2010 in News 6

goldThe immensely popular gold-dispensing ATMs have made their way to American shores, popping up at a mall in Florida. Will gold be a “parallel currency” in a few years? From Yahoo News:

A German company installed the machine Friday at an upscale mall in Boca Raton, a South Florida paradise of palm trees, pink buildings and wealthy retirees.

Thomas Geissler, CEO of Ex Oriente Lux and inventor of the Gold To Go machines, says the majority of buyers will be walk-ups enamored by the novelty. But he says they’re also convenient for more serious investors looking to bypass the hassle of buying gold at pawn shops and over the Internet.

“Instead of buying flowers or chocolates, which is gone after two or three minutes, this will stay for the next few hundreds years,” Geissler told The Associated Press in a telephone interview.

The company installed its first machine at Abu Dhabi’s Emirates Palace hotel in May and followed up with gold ATMs in Germany, Spain and Italy.

… Read the rest

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Super Rich Are Stockpiling Gold

By on October 5, 2010 in News 16

goldSo are the mega-wealthy creating another asset bubble, or do they know something that the peasants who invest in stocks, bonds and real estate don’t? From Reuters:

The world’s wealthiest people have responded to economic worries by buying gold by the bar — and sometimes by the ton — and by moving assets out of the financial system, bankers catering to the very rich said on Monday.

Fears of a double-dip downturn have boosted the appetite for physical bullion as well as for mining company shares and exchange-traded funds, UBS executive Josef Stadler told the Reuters Global Private Banking Summit.

“They don’t only buy ETFs or futures; they buy physical gold,” said Stadler, who runs the Swiss bank’s services for clients with assets of at least $50 million to invest.

UBS is recommending top-tier clients hold 7-10 percent of their assets in precious metals like gold, which is on course for its tenth consecutive yearly gain and traded at around $1,314.50 an ounce on Monday, near the record level reached last week.

… Read the rest

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Left And Right Agree: Buy Gold!

By on June 13, 2010 in News 13

goldWhen the New York Times runs a front page story suggesting that now is the time to buy gold and they quote Peter Schiff saying that paper money may become useless, is it time to buy, or a classic signal that the hype exceeds reality? Personally I think buying land, livestock and seeds might be a better bet…

It is the resurgent passion of the doomsday crowd, a bet that everything will go wrong. No matter what has you worried, they say, the answer is gold.

Inflation, deflation, government borrowing or the plunging euro — you name it — the specter of these concerns has set off a dash to gold, driving the precious metal to new highs and illustrating how fears of economic turmoil have moved from the fringe to the mainstream.

And gold bugs, often dismissed as crackpots who hoard gold bars in the basement, are finally having their day.

… Read the rest

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Gold On The Way To $5,000 Per Ounce

By on May 14, 2010 in News 9

goldAbout seven months ago I posted a story about the price of gold going up to $5,000+ per ounce. Since then there have been some ups and downs but the price has indeed continued to climb. Today the New York Times carries a Reuters Breaking Views commentary agreeing that we could very well be on the way to $5,000+/oz.:

It sounds like a gold bug’s dream. But looking back to the last inflation-adjusted peak price in 1980, it’s far from impossible that the gold price could soon go above $5,000 an ounce.

The potential level of a new high can be estimated in several ways. Based on consumer price inflation, the peak of $875 an ounce in 1980 is equivalent to about $2,300 today, almost twice the current gold price. But there’s a case for taking account of economic expansion as well as price inflation. The world’s economic output has increased about sixfold since 1980.

… Read the rest

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Sign O’ The Times: Gold Is Now An ATM Choice

By on May 13, 2010 in News 1

goldThe price of gold has been setting new highs in recent days as pretty much every major currency around the world looks shaky. Gold dispensing ATMs may be a gimmick today, but one has to wonder if gold may not be making a comeback as the world’s favorite and most desired currency. Story via AFP/Yahoo News:

There’s no mistaking what’s in this vending machine. The well-heeled in the Gulf can now grab “gold to go” from a hotel lobby in the United Arab Emirates, when the need for a quick ingot strikes.

On Thursday, a day after its inauguration, the shiny machine attracted spectators of many different nationalities who gathered to watch whenever an enthusiast was struck with the urge to splurge on a bar of the precious metal.

Abu Dhabi’s Emirates Palace Hotel became the first place outside Germany to install “gold to go, the world’s first gold vending machine,” said a statement from Ex Oriente Lux AG, the German company behind the vending machine.

… Read the rest

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Have You Caught Gold Fever? The Value of That Shiny Metal Is as Artificial as Paper Money

By on March 29, 2010 in News 9

From Alternet:

The economic doomsters and investment advisers are engaged in a collective hallucination when they see growing value in gold.

Quick, check out this hot investment tip! For decades now, the Federal Reserve has been suppressing the true value of gold to keep its prodigious impact out of the market, which is currently dominated by fiat currencies like the dollar and light-speed binary code transactions like high-frequency trading. If you stripped away the Fed’s continuing manipulation, gold’s free-market value, currently hovering around $1,000 per ounce, would increase by multiples. Wait, are you yawning? Why are you leaving?

Here’s why: This isn’t news. The Federal Reserve, along with investment banks, hedge funds, governments and even you (yes, you), have not been just manipulating the so-called real value of gold and other financial instruments for decades, you’ve also been manipulating reality itself for centuries. Because gold is just chemical element, or a precious metal as it is called in the business, which means you can’t eat, grow or use it to power your house or car.

… Read the rest

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Gold Posts Biggest One-Day Loss Since 2008

By on February 4, 2010 in News 0

You can almost predict the oft-repeated explanations the pundits offer up every time the precious metals behave irresponsibly.

  • The trouble with being a contrarian is that you can never be quite contrarian enough. We began having doubts about the ‘feds inflate…gold soars’ hypothesis last year. It was too easy…too obvious. And if it were that easy to inflate a nation’s currency, how come the Japanese couldn’t get the hang of it in the ’90s?
  • Inflation, yes…but not for a while. And gold? Well, we are in it for the long run. In the short run, anything could happen.
  • To clarify our view on gold, The Daily Reckoning is not bearish on the metal. It is not bullish on the metal either. It is buggish. We are gold bugs. In the long run, gold will retain its value. Since that’s all we ask of it, we are always satisfied. Even if it is down in the short run – and it went through an 18-year down cycle from 1980 to 1998 – it will come back in the long run.

    • … Read the rest

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Jon Stewart: Glenn Beck is a Gold Digger

By on December 11, 2009 in News 0

Dan Abramson writes on Huffington Post:

With the value of gold on the rise, Jon Stewart was determined to get to the bottom of what may have caused the increase. The likely fanner of these flames: yep, Glenn Beck.

After noting that gold goes up when people are panicked or concerned, Stewart sat back and enjoyed the greatest hits from “Beck’s hour-long nightly fear-cast.” That alone wouldn’t be enough to credit Beck for initiating this gold rush, but his role as spokesman for Goldline, an internet site where you buy gold, surely sealed the deal. Stewart recapped:

“Glenn Beck is paid by Goldline to drum up interest in gold, which increases value during times of fear; an emotion reinforced nightly on Fox by Glenn Beck.”

Calling Beck’s ethics into question, Stewart finished by stating, “You can’t spell ‘gold’ without G-O-D.”

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