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Garpal Gumnut

Garpal Gumnut

Ross Island Hotel
Joined
2 January 2006
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Well it was never going to last forever. I have the co-ordinates of all my Gold Bar buried safely throughout the nation but am only able to access easily that which is in Queensland and the NT.

Thus it is time to dig up the bar, sell in to AUD and then ....

I'll have time to think about it while I dig. Between the virus, the Orange Clown in the White House and the number of specie gold stocks being given electric shock treatment, the price should meander between $2700 and $2900 AUD, before it crashes.

And if it keeps on going up then all the better.

gg
 
Garpal Gumnut said:
Well it was never going to last forever. I have the co-ordinates of all my Gold Bar buried safely throughout the nation but am only able to access easily that which is in Queensland and the NT.

Thus it is time to dig up the bar, sell in to AUD and then ....

I'll have time to think about it while I dig. Between the virus, the Orange Clown in the White House and the number of specie gold stocks being given electric shock treatment, the price should meander between $2700 and $2900 AUD, before it crashes.

And if it keeps on going up then all the better.

gg
Click to expand...
do you need a hand gg, I have a bucket on my tractor, useful to dig out bars and bury unwanted witnesses
 
qldfrog said:
do you need a hand gg, I have a bucket on my tractor, useful to dig out bars and bury unwanted witnesses
Click to expand...
My main problem in fact is not witnesses, and I only bury where the Arnage can travel and never in creeks or near people in liquidation ( the financial not existential kind ) , but should I need you I will call.

Thank you @qldfrog for the offer.

gg
 
How about creating a Garpal Gumnut treasure hunt?
One similar to the decade old treasure hunt started by Forest Fenn in the US. (Recently found)

Like Forest you can write a book outlining your life experiences and how knowing them may help someone decipher the clues in the poem contained in the book. I can see you sitting in the Hotel and the Arnage composing an ambiguous poem to make the hunt last a long time.

Imagine the curiosity. Who is this GG? Why did he leave the treasure during the COVID pandemic when the Qld borders were shut? Did he use the pandemic as cover to hide the treasure? How far did the Arnage go into the bush?

Think of all the southerners flooding into Qld looking for the treasure. Actually this might be off putting at first but your state needs the extra tourism. Head lines, "GG single handily boosts QLD tourism."
 
The gold price overnight has fallen 5%.

Traders in the US overnight must have been reading ASF.

I continue to dig up my gold bar and liquidate.

All the suits from the "Gold Stock Webinars" will be returning to Lowes for a refund. The ties to Myer. And the spruikers to selling Casio watches on Ebay.

The Arnage is on the road, entrenching tool packed and The Swan River Colony Mint alerted.

Vegemite and chocolate sandwiches will sustain me in the cold, cold west.

gg
 
I am saddened to think......if only .......if only Mrs Ardern had not put us back into lock down I may have been of help....dig deep my Friend

bux
 
This is the inflation adjusted gold chart (USD)

Remember Peter Costello instructing the Reserve Bank to sell two-thirds of the Australian gold reserve in 1997? The old trick of getting sucked into selling near the bottom!



upload_2020-8-16_2-15-37.png
 
Garpal,

Forgive me for dragging you away from the important job of upgrading the rear springs of the Bentley necessary to do its job if called upon. I can only admire your sacrifice in these uncertain times ......that of comfort for the greater good.
I know by now you must be planning the contingency of bigger equipment if the load becomes to much in those final stages of the dig....... but please, please avoid the temptation of using a bus, as Micheal Caine found this decision can only leave you hanging in the balance

Keep me posted
All the best

bux
 
Article from a few days ago. Just a recent example of gold providing one of its important uses as a recourse for citizens losing confidence in government currency. Gold in Turkish Lira not far off recent all time high.

Turkey sees gold rush as local currency keeps losing value

Aug 18

Kitco News) Turkish citizens rushed to buy gold and U.S. dollars last week as their local currency plummeted to new record lows against the U.S. dollar.
Local holdings of hard assets, such as gold and U.S. dollars, jumped by $15 billion in the last three weeks, rising to a record level of nearly $220 billion, Reuters reported last week.
“Hasan Ayhan followed his wife’s instructions … and took their savings to buy gold at Istanbul’s Grand Bazaar as Turks scooped up bullion worth $7 billion in a just a fortnight,” the Reuters article said.
The safety that gold and the U.S. dollar offer has always been attractive to Turks, who reportedly hold as much as 5,000 tons “under mattresses,” said Istanbul gold shops association deputy head Mehmet Ali Yildirimturk.
And now, with a coronavirus-related economic slowdown and major currency debasement concerns, the surge towards gold and the U.S. dollar is quickly accelerating. In 2018, Turkey saw a major currency crisis, with the lira losing 30% of its value virtually overnight.
The main fear now is for the lira to continue to hit new record lows. At the time of writing, the lira was trading as low as 7.38 per U.S. dollar. So far this year, the lira lost nearly 20% of its value.
“I think it is the best investment right now, so I converted my dollars to buy gold,” Reuters quoted Ayhan as saying. “I might withdraw my lira and buy gold with it too, but I am scared to go to the bank right now because of coronavirus.”
Turkish citizens are even thinking about selling their homes and cars to raise cash to buy gold.
“I’ve been chatting with hundreds of people who are thinking about selling their cars or houses to invest in gold,” Gunay Gunes, who runs a booth at the Istanbul’s Grand Bazaar, told Reuters.
This rush to gold also created a cash squeeze with U.S. dollars, which are used to settle gold purchases, in short supply. This resulted in one of the most significant gaps between the cost of physical dollar bills and the official exchange rate, Bloomberg reported last week.
“As a result, U.S. currency bills in this market have been trading at the biggest premium relative to the official exchange rate since at least 2002 over the past month, according to local data provider Matriks Bilgi Dagitim Hizmetleri and Bloomberg calculations,” Bloomberg stated.

By Anna Golubova
For Kitco News

Screenshot_20200821-113105_Chrome.jpg
 
@Garpal Gumnut You were right to pause your gold recovery operation. Latest news that Jan 2021 World Economic Forum in Davos, Switzerland has been postponed.

You may continue replotting your caches and sharpening your darts, as you'll have plenty of time.

btw Excellent judgement re the local "fight".
 
The weak US$ is likely to spur the gold price up in green back terms. Silver is likely to test the US$30 level again very shortly. The bulls of both metals are quietly grazing after taking profits on the previous run up. They'll pick up on opportunities watching out for the red flag to charge on.
 

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