Pixel8r
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Posts posted by Pixel8r
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I have to say rh, that this is rather unfair on fitkid. It's like sending off one of your centre forwards when they have hit a patch of form. Fitkid is a rooney, a tevez but has a heart of gold (ho ho).
it was wrong of the other guy to wind him up about the bilberries (a great thread in itself) and at least Fitkid speaks passionately about what he believes in...he may well be right about the paper profits too.
A good manager/moderator would be wise to his antics/personality.
Bring him back on please. Gei needs his commentry, esp over the next few days IMHO.
I agree RH has been too harsh on fitkid.
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Got it -
The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.
oops noticed after posting.
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Can anyone help?
I'm looking for the famous Mises (is it? Maybe Rothbard) about piling on more debt leading to the collapse of the currency itself.
Thanks in advance
http://mises.org/hum.../chap20sec8.asp
The wavelike movement affecting the economic system, the recurrence of periods of boom which are followed by periods of depression, is the unavoidable outcome of the attempts, repeated again and again, to lower the gross market rate of interest by means of credit expansion. There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved -
Very good point. However, Pd has been plumbing even lower depths recently.
http://www.markt-dat...latin-ratio.gif
Thanks for these charts GF, the one above is giving me second thoughts on my swap currently. Look at the Au/Pt ratio in 1980, looks at about 1.5 to me.
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SIR PIXEL8R i was just about to post this chart showing the anomaly on platinum scrap price it has been under 22k Au price for scrap for weeks.Any ideas why platinum is scrapping lower than even 22 k Au.?
Wow thats a big difference, well spotted. Sorry but I have no I idea why that could be, other than there is a lot of scrap Platinum coming onto the market currently. Maybe a lot of old cars are being scrapped?
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The Gold and Platinum price are swapping place currently, gold was actually $4 more expensive an ounce than Pt 10 mins ago. Thinking about swapping some of my gold to platinum via GM and am wondering what others thoughts are?
My thinking is that the last time that gold and platinum were the same price was in the depths of the crash in '08, gold is showing strength as it is the stable go too asset, where as Pt is being sold down as an industrial metal. IMO this can't last as Pt is far more precious than gold and maybe a good opportunity to swap.
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Still fits, coming to the vertical bit shortly. Enjoy the ride.
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Looking a little toppy here. Wouldn't be surprised to see it consolidate around these levels for a bit.
Just to remind everyone that RH often gets things completely arse about face.
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What I wonder is, if Gold does go to $10,000 an ounce, how will people with gold be better off? What can a normal person realistically do with gold other than wait until things normalise again and then sell it for the new currency that comes in?
You will be able to use your gold to trade for things that you need, gold is money. This was shown in the recent crisis in Greece, when a black-market started in sovereigns. I have recently used the GM payment system on four occasions to buy goods, I hope that it will become more widely accepted in the future.
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Yes, but that is where your gold is kept in 'safe' custody not an actual contract to deliver a gold coin.
You can have either a 100 gram or 1 kilo bar delivered at any point though.
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Jim Sinclair interviewed by James Turk at the GATA goldrush in London.
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Actually, it was a log plot.. the divisions are closer together nearer the top
Oh yeah I see now (sorry RH).
Lets all look at the reasons as to why the gold price will escalate over the coming years;
1. Central Banks have turned net buyers in a big way, around 200 tonne so far this year. After years of being net sellers, that has got to put more pressure on the price and cause the rate of increase to escalate.
2. Increased debasement of fiat currencies, this is starting to be recognised by joe public.
3. Financial problems escalating not easing (there never is any solutions just actions that postpone and elevate the situation).
4. Gold buyers are no longer looked at as being weirdos, but are starting to be recognised as onto something.
I think the reasons stated above show how the steady escalation in the price of gold that the gold cartel have been trying to instil will end up overcoming them in the following year. This will bring about the final mania stage in the bull run (which I believe will last probably a couple of years).
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Looking a little toppy here. Wouldn't be surprised to see it consolidate around these levels for a bit.
But your not using a log graph.
I am expecting there to be increased volatility during this week, probably a bit of a pullback on Monday until they are forced to announce some more printing to save the stock market. When it comes down to it there will be more printing which will be very positive for the price of gold. There are reports around that there is a large amount of money on the sidelines waiting for an opportunity to buy, at some point that money will be waiting no longer and getting in.
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My guess is the same old steady appreciation of 20% odd a year against the dollar. Could spike to 1800 and then spend a year consolidating to that level if the past is anything to go by.
As I keep explaining whenever RH comes out with this claptrap of 20% a year appreciation, the rate of increase in the price of gold will escalate as we get further into this bull run. There is no way that it will continue just to do 20% a year, as it hasn't in the past. The following log graph clearly shows that we are in a much steeper uptrend than 20% currently. I fully expect us to move into an even higher uptrend soon, maybe we have just started the next leg.
RH why can't you acknowledge this?
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I am expecting silver to show some serious strength again soon, once we close above $42.50 we will be back on track, the heavy manipulation (5 margin hikes in quick succession) correction will be behind us. Blythe Masters must be starting to fret, her efforts don't seem to be as effective anymore which is understandable with higher margins as that means less speculative holders.
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Pity the poor buggers that are selling though!
I always wonder why more cash rich miners aren't holding gold in reserve rather than selling their supply for fiat, it is almost like they don't quite believe the price will continue to rise.
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These were the days that i used to love have they past and gone now for good.??
Sure miss those ultra drastic silver moves.
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What happens now?
Point and figure chart is pointing to a triple top breakout and a bullish price projection of $1970 currently.
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Really? Despite the fact that the chart is complete hokum, if you were to draw a conclusion from it I think the best one would be that every time the debt limit has been raised in the last 5 years gold falls dramatically THEN rises to the new ceiling.
I'll make it simple, do you see where the little black line move upwards? That's the debt ceiling being raised.
Do you also see the little red line move down when the little black line moves up, that's gold falling.
QED.
Guess what gents, I'm pro gold. Although I guess I now fall into heretic category for making a simple observation on a chart. The level of defensiveness on here is hysterical sometimes.
I do see what you are talking about but I think it is a bit of a stretch to say that gold falls each time the debt ceiling is raised. Here the same graph with some downward lines to show you what I mean, about half the times it actually goes up post raising so not much can be gained from it really.
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http://www.bbc.co.uk...siness-14368064
South Korea buys gold as safe haven, first time since '98
South Korea's central bank has confirmed it has made its first purchase of gold in 13 years.
The purchase of 25 tonnes of gold shows the bank is diversifying its foreign exchange reserves away from the US dollar.
Gold is seen as a safe haven investment when other forms of investment like shares and currencies are more volatile.
It is the first gold purchase by the bank since the Asian financial crisis.
Beat me to it.
Here's the FT article;
South Korea lifts gold reserves 17-fold
By Christian Oliver in Seoul
South Korea, holder of the world's seventh-biggest foreign exchange reserves, has increased the value of gold in its reserves 17-fold over the past two months as part of a gradual diversification away from the US dollar.The Bank of Korea said on Tuesday that it had purchased 25 tonnes of gold – worth $1.24bn – in its first acquisition of the precious metal since the Asian financial crisis in 1997-1998, when Korean citizens donated gold jewellery to the bank to help the nation through a period of economic emergency.
Seoul's new 25 tonnes join the 14.4 tonnes it already holds in London in the vaults of the Bank of England. In Korea's reserve statements, the 14.4 tonnes are listed at their historical value of only $80m.
The Bank of Korea's expansion of its small gold reserves – a move it said in October that it was considering – follows an announcement in May that it planned to move some of its $311bn reserves to renminbi-denominated assets on the Chinese mainland...
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Was checking some share prices earlier and almost choked when I saw ECU silver had closed up 2677%. Typo sadly, but if any ECU holders do want to pretend they're now rich beyond their wildest dreams, please follow the link:
Hopefully I will wake up one day to that being a true story, the merger with Golden Minerals (AUM) does look promising though.
SILVER
in Gold, FX, Stocks / Diaries & Blogs
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46 on the GSR also looks very attractive to me.