G0ldfinger

I am not at all concerned about this plunge today. It's all in line with Jim Sinclair's prediction that volatility will reach esoteric levels. In fact, my guess is, that if this volume would have appeared on the buy-side, the price would possible be above $950 right now. This plunge looked like something that has been fabricated by an extremely unsophisticated seller, or, an extremely malicious seller. Both is no reason for concern.

Just let them get wiped out if they enjoy it so much. OK, I preserved the moment for the afterworld. Since this happened in NY (I suppose), it is possibly not a European central bank that is dumping here. EDIT: Yes, that's what I would guess from here. It looks very 'unnatural'. EDIT2: On the other hand, one would expect a liquidator to sell a little bit more careful, and not in such a brainless manner. But what do I know.

WTF? Is someone big going bankrupt and being liquidated? A hedge fund? A commercial bank? Spain? Or is it a desperate last stand of the shorts? EDIT: Seems this was a genuine gold move. Yes, the EUR went down as well, but in a much different pattern. My guesses therefore, it was either: (1) Plain stupidity (this includes commercial bank shorting & central bank selling). (2) Someone who is going bankrupt. (3) A brainless blackbox (i.e. equivalent to (1)). IMO, someone big is desperate, especially since OIL IS NOT GOING DOWN after the Jeddah chatter.

I guess by utilizing some cookies, you might just catch them with you bare hands in the local park.

They knew what was happening. Should have called it quits much earlier.

100oz was in the US in 1980. UK was 82oz, or so. Double-whammy: Sterling down AND houses down. No problem. EDIT: Here is more on the topic: http://goldismoney.info/forums/showthread.php?t=195370

Yes: an average UK home for around 80oz gold.

Should I stay or should I go? http://www.greenenergyinvestors.com/index....view=getnewpost

The tough cookies have been trading today. I am a wimp. Buy and hold. If a buy on a dip, all the better. EDITed for typo.

Sorry, don't wanna spam here. But here's more:

The Dow is now threatening to go left of the bottom-left to top-right line. The next upsurge in gold will then move us into the "target" area, or very close to it. Edit: Here is the newest version of this chart. The Dow has not yet left the triangle. But is very close to.

I still think the next move could be massive. This is the old chart. Below it is a newer version that shows that the coiling pattern has just continued since then. The next move in the ratio could be massive. This here is also very bullish in my opinion. All the action we saw after the plunge down from $1,000 was basically centered around $900. IMO it could have easily been centered around $800, and it still would have been no sign of the end of the bull market.

Yes, it's sad. But I still think upward pressure on wages will grow. http://www.telegraph.co.uk/money/main.jhtm...bcnmonet117.xml I am a hawk and a dove at the same time, because I think all of the above will happen at the same time. It's going to be an inflationary slump. Double whammy for house owners: the price will slump a lot, and the price will be worth much less. Why oh why can't people see that all this could happen at the same time?

Jim Sinclair now getting very active on illegal shorts.

There was also talk of weak trade unions etc. How quickly do you think will people join the unions once they see how they're going to get squeezed? It's going to be very quick IMO.

Interesting stuff. I am looking forward to the Mint's reply.

http://news.bbc.co.uk/1/hi/business/7460475.stm Hey, ho! Food and fuel prices go up. Let's make sure at least wages don't! Love it!

As all through last year or so, I am basically 100% committed to gold and silver right now.

Ouch.

Now we're talking!

Just like in 1979/80. Iran's accounts get freezed. Other people get scared and buy gold.

I would say of course not. Any easily tradable and storable commodity would do as a reserve. I guess one would simply end up with precious metals.

G-8 Urges Emerging Markets to Cut Oil, Food Subsidies http://www.bloomberg.com/apps/news?pid=206...&refer=home Yes, why not? Just let them starve. No problem. WTF DO THEY THINK??? NOT practical. TRANSLATION: The West tells the East basically to piss off and not even think about using their hard-earned money to buy anything useful like fuel or food.

Yes. All these people who claim the opposite now will be pretty embarassed (but will always have known better of course).

GBPUSD will be not higher than 1.50 by then, is my guess. I expect it to go towards 1.00 over the next 5 years or so.