sossij

OMG Freddie and Fannie are simply being HOSED !!!! 20% down . . . Paulson's gonna have to step up

Not that familiar with silver sammy but i assume hes the ultimate contrary indicator!

 

Nice move in NY so far and at the good news is that its in the right direction for a change, although I fully expect that it this rally wont last and the price will be duly clobbered back to a new low tomorrow

 

But who knows......I am just trying to keep calm, hanging on to my positions and enjoying the ride for now

Likewise.. it's been a hell of a ride so far

It might be a bit premature... oh, what the hell it's been a while

People seem to be mostly worried about WHERE to get the stuff when the want to buy some.

I noticed, just been catching up on these 'ere threads since I got back. Had no trouble with goldmoney and just now sent some £s over to BV. Any problems reported buying there?

I must go away more often. I come back and find gold and silver are having a summer sale - fantastic!

How is everyone, nobody worrying I hope?

What on Earth is all this mithering about?? Why isn't everyone buying? How often have we all wished gold was cheaper and now we have a (ahem) golden opportunity to load up - I've just bagged some more I'd be in for some more at these prices except I'm off on holiday tomorrow... oh well.

Remember: nothing has changed - the Fed and the other central banks are pumping enormous amounts of smack into a sick dog and there's ever more parasites bleeding its barely functioning corpse dry - good luck everyone and remember...

Then you need to think very carefully, IMHO. This is great board, but it is not made up of financial advisors, or anyone else you can sue if they give poor advice. Betting several hundred K on the back of forum tipsters is a pretty risky strategy IMHO.

Good advice. A lot of people on here have been buying gold for a while and have "found their legs", as it were. Some are very bullish and some are quite cautious. I remember when I first started buying gold about 2 years ago (and I'd been thinking about getting some for almost a year before that!), I would be constantly watching the gold charts tick up and tick down and worry whenever the price moved moved down. I started off very small. My first purchase was a single 1 oz Brittania then nothing for a month, then I bought a Panda a month later. After that I opened BV account and slowly bought just a few grammes at a time. Slowly, I got to see how the market would change (a bit like watching the weather) and would tally my responses with others (in The Old Gold Thread on HPC). Over time I learned not to care about wild variations but to keep plugging away with small regular purchases. By doing this I have managed to smooth out the peaks and troughs but I haven't necessarily benefitted as much as if I'd gone "all in" two years ago... but I've certainly been able to sleep better My reasoning to buy some gold is to protect some of my savings, not necessarily to get rich... but it would be nice!

Not sure if any of these are really going to apply for the immediate short-term but I reckon when the reversal comes, it'll be with startling ferocity. I'm not selling one gram ! We shall prevail !

Heh heh, I'm quite looking forawrd to listening to Puplava this weekend - he'll have a lot of explaining to do

Not that I mind at all, how often have we wished for cheaper prices ... and here they are. If only I had bigger boots...

If it breaks $850 - $845 wheres the next big support $825 ??

Who cares??

Hey check this out - large smackdown to $851 Can't believe this, more cheap gold. Can't charge my BV account fast enough

Edit: and check out silver - wow!

All I can say is, everyone who is in gold and silver should have some coins at hand. My advice also is, don't only get the old stuff, get some shiny brand new ones. It's good to hold the stuff in your hand so that you actually appreciate a little more what have stored somewhere in Switzerland with BullionVault or GoldMoney. And for the ETF people, it's good if you have some of the real stuff.

 

On a side note: 1oz Maple is 5 Dollars notional, 1oz Eagles is 1 Dollar. Can I see some American hubris here? :lol:

Agreed, I have a rather nice set of 1oz silver pandas and they are really, really pretty. Prettier than the gold ones I sometimes think

Click the link in GF's signature. Lots of good graphs there including UK house prices in ounces of gold.

Thanks wren I seem to be signature-blind these days.

TIMING QUESTION:

 

If you were China, and you wanted to strengthen your currency

- by switching some reserves OUT OF DOLLARS and INTO GOLD.

 

When would you do it?:

 

+ Before the Beijing Olympics?

+ After the Beijing Olympics?

 

No prizes for the right answer

 

Benefit: you can lower commodity price inflation

Cost: less exports to the US- but they are fading anyway

During... while no one is watching?

That sounds about right to me.

Hey GF, didn't you used to post some graphs of UK houseprices in gold back on hpc? Do you still do them?

This is catastrophic (for houseowners, banks, the UK economy, but not necessarily for you). The average home owner oozes now £22,000 in equity every year. And, I can't stress this enough, this is only the very beginning. I am looking forward to houses losing 30%-50% of their value over the course of this meltdown. In some extreme cases it will be more.

 

Ceterum censeo, Hadrian's Wall won't stop this crash.

 

What does it mean? Northern Rock was only the beginning. I expect the nationalization (i.e. bankruptcy) of banks like Barclays, HBoS and RBS over the years. All amounts of money necessary to keep these turds afloat will be created. Our shiny yellow friend will be your lifeboat in this financial holocaust.

I believe that by 2013 gold will have doubled (at least) in $ terms, £1 will equal $1 (at best) and UK house prices will have halved (at least). Makes sense to save for a house in gold to me... well, that's my plan anyway

I'm with Bob and Justin - I got a bunch of gold earlier on but loaded up again in March at 980 which took my average in to about where it is now. I am wearing +50% losses on more than 50k of Juniors - my silver is above water but that's about it.

I'm getting my confidence shaken a bit atm - more so than the big drop in March - today was a total bloodbath for the Aussie juniors with -10% and more across the board! Double baggers required everywhere just to break even for me - I need a virtual group hug and some reassurance please!

Fret not mattyboy, gold will be $1132 on 8th November 2008 (11.22 am).

PLEASE USE the new thread for AUGUST. Thanks

 

Link:

http://www.greenenergyinvestors.com/index.php?showtopic=3910

It's still July here Dr B!

I'm no financial advisor but if you're buying physical it really doesn't matter if you get a mini dip every now and then. $910 is a bargain.

Yeah, LauraB - what Bobsta said ^^^

Looking at a 5-year or even 1-year graph of gold makes it pretty clear that waiting a couple of hours isn't going to make any noticable difference. Buying in small amounts, regularly and often, is the key.. then trend is your friend

QUOTE

``I would be surprised if Jan. 30 marks the end of the measures,'' said Mark Vitner, senior economist at Wachovia Corp. in Charlotte, North Carolina. ``The credit crunch is very much with us and, if anything, spreading a bit to consumer borrowing.''

 

 

Words are powerful things. One thing that continues to bug me is this pithy little phrase "credit crunch". This quaint little phrase, which sounds so innocuous, is surely the misnomer/understatement of the year. Considering that the "credit crunch" may only worsen and bring the capital markets to a grinding halt and in turn possibly usher in a depression, should it not be called a credit crisis, or credit collapse, or bank zombification or some other such serious term?

 

If things pan out as some here do, it will be the understatement of the century.

Indeed. I try to use the phrase "credit collapse" whenever talking about the current financial mess, NLP and all that

Two "Eurozone" banks sold some gold earlier this week and it was announced yesterday (I posted it).

That was very considerate of them... and now some of it belongs to me

Nice. I am too trigger happy these days. Come pay day, must buy gold!

I'm lucky, due to a temporary quirk of fate I'm currently being paid weekly. It's great, I just buy the same amount in £s each week whatever happens... smooths out the peaks and troughs nicely When I go back onto monthly payment its gonna really try my patience.

Never know which way it will go.... just want to be in before Autumn arrives.

A Septemeber/October rise like last year would be just great. Holding fast.

The credit crunch is over. There will be no Greate Depression, not even a recession. Sell all your gold and silver.

:lol:

... to meeeeeeee!

And all gullible weak handed idiots running to financials.

Ha ha! Exactly!

It's just the usual end-of-month-gotta-smack-it-down. Just recharged my BV and GM accounts

Bargain gold and silver everybody! Grab it while you can. Thanks Uncle PPT

Nice recovery going on... sorry, I mean "noise"