Pixel8r

Hanging in there. Going through a lengthy court battle currently for proper access to my son after leaving my cheating partner. But work and finance is all good. Have branched out into doing websites as well to fill the gaps.

Somethings going on. Big Chunk Of JP Morgan’s Gold Holdings Withdrawn In One Day

GATA have well documented the longterm manipulation in gold that went on through the 80's & 90's, culminating in Brown's bottom. There was a central bank gold price suppression scheme in operation for 2 decades, the useless asset gold was leased to bullion banks for a lease rate. This accomplished two things, it got them some return on their useless none yielding asset and it also meant that gold was sold into the market which kept the gold price down and made their fiat currencies look better. This extra supply made up the shortfall in mined supply for 2 decades. Things have started to unravel over the last decade and central banks are now net buyers. Do you deny that this actually happened or that it isn't manipulative? Re your second point in not believing in the hyperinflation case anymore. They have no choice but to hyper inflate the currency, it is not about reducing the debt it is about continuing the game. If they stop monetising the debt the game stops. Central banks are currently monetising more debt than is issued. HyperInflation does not necessarily mean rising prices immediately, hyperinflation is the exponential rise in the quantity of money. The rising prices will follow at some point, but the currency is already being hyper inflated.

Actually looking more closely at the charts it did drop through the longterm support, but then closed above it.

This market is obviously heavily manipulated we have had tons of metal being dumped on to the market in the early hours, some have been speculating it can only be by the BIS. Technical analysis kind of becomes pointless as the chart can be painted to create whatever pattern they wish and trick technical analysts into believing whatever they want. The recent drop felt like a capitulation point to me with lots of weak holders selling into it, but who knows what they have planned next. I wouldn't be surprised to see them drop the price down out of the channel in your chart above, just to try and knock a few more out of the their holdings. I think what it will all end up coming down to is physical availability, as physical metal becomes harder to source the price will turn. The GOFO rate went the most negative this week since 2001, which is showing the pressure on the market. As usual I think it is best just to accumulate physical metal and not attempt to trade the PM market using paper derivatives. Kind of feeling like I may swap some more gold to silver though lately.

The capitulation low came in June 2013 with the drop to $1178, we have been on base building since then. Through my years of watching Gold it always seems to move in a way where it leaves the bulls behind. I doubt we will see another capitulation low for that reason. Now comes the time when everyone has to take notice of gold again.

warpig talked about an interesting indicator to monitor for confirmation of the change in gold direction on 24knews today, the CCI index. Looking like it is about to confirm it breakout with a test at around 504

To tell you the truth I am unsure as to what to expect, I have been thinking we have seen the bottom of this correction with the 2 $1180's at end of June and December last year and we would be setting off on the next wave around now. I have recently sold a property in preparation to put some more capital into PM's, have started feeding some in but am now starting to think that we could see final drop if we see another 2008 style liquidity crisis. If we do see a repeat it could be that you are still better buying physical ahead because the banks could lockup and capital be hard to move. Think I will probably end up deploying some ahead and hold some spare powder to see what the next few months bring.

Thanks for the video it agrees with what I have been thinking of late. I think the gold bull is about to restart and have been positioning myself to take advantage of it. There is a possibility of a major crash in the stock market and a resumption of the 2008 crisis, where everything gets sold off in a rush for liquidity. If that happens we could see gold drop for a final low. It seems that is what Martin Armstrong has been talking about in his latest blog post, expecting the final low to appear not before Jan/Feb 2015 - http://armstrongeconomics.com/2014/08/01/july-recap-of-few-markets/

The suppression scheme may appear to have worked but in effect the central banks now just have IOU's from bankrupt banks rather than physical sat in their vaults. Doesn't seem that great a plan to me, especially as most of that metal ended going East at discount rates. The "sale" of GLD by Paulson was actually only picked up from his 13F report. This report shows the holdings of certain securities but doesn't need to show things like physical metal holdings. I expect that rather than selling Gold at the low of the correction it will come out eventually that he actually took delivery of gold from the GLD, which can be done in batches of 100,000 shares, which would show as a sale in the 13F report.

Is it time to sell stocks and buy gold? By: Dominic Frisby The other major difference between the 70's and now is the fact that there has been a gold suppression scheme in operation since the 80's and the western banks have leased a load of their gold. Why is it that those reporting in the media don't acknowledge the proof that GATA have accumulated, or take it into account? Come on Dominic

Your starting to sound like a GATA nut.

I think the volatility in the metals is only going to increase massively as we go further into this. Most traders will get burnt unless they are extremely disciplined and I think it isn't something that people should attempt. Maybe you all win, maybe you will win big, but also maybe you will then lose it all and get really angry about it. I prefer to concentrate on real things and not try to beat the banking bar stewards at their own rigged game. Good luck you will need it.

The thing is they aren't INSIGNIFICANT if you are a paper trader on leverage, they actually probably nearly wipe you out.

We see moves of that sort very often particularly at options expiries, which is all part of the gold cartels actions to screw the paper traders. Patient physical accumulators have come to recognise these movements and take advantage of physical metal being on sale, which will be the eventual down fall of the cartel. I am not talking about 2.74% up moves in one day, I am talking about moves of more than that from low point to high point in one day. Everyone knows there is a 2% rule enforced by the cartel on gold. I also buy a lot of silver and there are many days when the movements are far more than that, over 5% a lot of days. This is my last message here again as I feel you are deliberately saying things in an attempt to get me to post my knowledge. I am sure that if you were half as clever as you make out you will also have seen the movements I am talking about and the above will not be news to you. I have better things to do than to continually defend my position to rude goadings.

Why do you always need to be so misleading, the commission for buying gold via GM can hardly be described as massive and there is only a fee on buying and not on selling, where as on the ETF's there would be a spread on both transactions. The buying fee can be made back in less than one day by buying at the right time. I often buy at PM fix around options expiry time each month and the fee is often made up before the end of the day is up. But then I am not about trading, I am more about accumulation. Here are the current buying fees;

Why don't you ask those that did take delivery of their gold from futures contracts purchased via MFG, they held warehouse receipts for that gold and still found out that it was lost to JPM as it was somehow still included in MGF's assets. Using any sort of leveraged paper vehicle to purchase physical PM's in this financial crisis is very risky, that has been proved numerous times but still you refuse to notice it. I would like my money back on your guarantee. The storage costs for physical gold via goldmoney is 0.18% per year, your gold is stored in a top vault operator VIA-MAT and is also insured and audited. Your gold can be sold back at spot whenever you like for no cost. Here is a chart which shows the GLD performance against the gold price for the last 3 years (sorry I don't subscribe so can't go back to 5 years). You will notice that the price is slowly moving away from the real spot price, I would imagine this is to cover some of the cost involved in the running of the ETF. There would also be a fee and spread when you came to sell, unlike above. What is it that they are always saying about past investment results? I truly think at some point during this gold bull run that the GLD and it's investors will come very much unstuck. It just strikes me that there is something very wrong about the fact that the two biggest shorts in the markets, HSBC in gold and JPM in silver, are also the entities that run the two biggest ETF's GLD & SLV. Anyway I have had enough of going over old ground again, it appears nothing changes in bubba world.

There you go again immediately, telling me "Don't be so blind, Pixel. Look in the mirror !" You do ridicule people for buy and holding gold, I am sure I am not the only one who has noticed that trait in you. I don't try to dupe people into buying gold at peaks. Can you point to any time that I have? I don't agree with the screwtape argument that gold advocates are cultists, as I said above the same could be said about traders. Fanatical cult like behaviour is far different from encouraging the protection that gold and silver offer in this fiat financial crisis. There isn't one leader and the gold buyers that I have chatted with are always questioning the wisdom of what various pundits say. Again complete bollocks, there is loads of debate about how to approach things. If that was the case why would I still keep putting myself through talking to you about things like this? Healthy debate is much more informative than just 'learning' one way of thinking. Again complete claptrap, goldbugs are very open to talking about and to all sorts of people. There is no secrecy as far as I can see, loses are discussed very openly unlike loses by traders. http://www.greenener...showtopic=15801

This is the way I read what Alf Field is talking about. Basically we have had the major one wave, which is split into five minor waves, 3 up and two down. We then had the major two wave which is a corrective one. We have started on major wave three and have already had the first two of the minor waves within it. What comes now is minor wave three of major wave three, which should be the biggest gain of the whole bull run and definitely not a time you want to be sat on the sideline. Alf explains how this wave should be around a 500% gain which will take us to around $158.

The difference is that you don't own or accumulate real physical gold or silver you trade it. You say you have made millions out of trading stocks, well good on you but the difference is between you and most 'normal' humans is that you already came from a banking background and have a large sum to play with. Many of the people who are buying gold currently have had virtually nothing to do with trading, they are purely trying to see their way through this financial crisis. You say that owning GLD has been less risky than owning gold futures, talk about stating the bleeding obvious! I have never said that owning any sort of paper gold trading vehicle is a good idea. The less risk that you talk about in an ETF is nowhere near the zero counterpart risk of owning physical metal. Pouring scorn and insults on to those that have had the foresight to take themselves out of the corrupt fiat currency system just makes you look like a banker, which is going to make you very lonely on this site as selfish bankers are what the world is revolting against currently. Categorising those that are accumulating physical metals as members of a cult is daft, exactly the same could be said about the day trading fanatics.

A lot of us have been around long enough to remember the "Be careful gold may be done here" thread that you started when gold was under $1000. I argued with you in that thread for sometime that it wasn't and that when we broke through $1000 next time that we wouldn't be back. You were very insistent that it was not a good time to buy but history has taught us different, so excuse me if many don't want to listen to your sage advice. If only history was actually as easy to erase as certain threads. "Just own it, as I do" or not as is more probable, do you actually own any physical metal or is all your ownership wrapped up in some ETF?

Amazing isn't it if you go looking for something hard enough you will always find what looks to confirm what you want to find. The original daily mail artcile was actually linked at the bottom of the one you posted.

There has been and continues to be a massive HPC, just not when you value houses in the pound that is being printed to oblivion. This is the main fault that the HPC website has, they didn't value house prices using the correct currencies.

You are talking poppy cock as usual, we welcome dips and also treat them as buying opportunities. Everyone remembers the "gold may be done here, be careful' thread when gold was below $1000. In that thread you weren't encouraging people to buy during the resistance to $1000, you were trying to stoke fear that the gold bull might be over. Now I am being described as a gold purists and am into 100% buy & hold. The truth actually is that I have around 35% of my assets in PM's, the rest of my equity is in real world investments producing real world things via my business. I have always laid things out exactly as they are for me, I am only not 100% into my real world business currently because of this financial crisis. I am getting very bored with the constant insults to my intelligence that are being thrown at me by the traders and their sidekicks on this website. I am not ever going to change my mind on preferring trading to doing real productive business however many insults are thrown at me, all you are doing is showing me more of the reason why.