G0ldfinger

Consumer sentiment down the toilet -- Dow wants to go scuba diving, but the PPT won't let it. Anyway, some people seem to be thinking that DJIA at 13,000 is just ridiculous.

Oops. Just went through $900! Where is the Cartel?

http://us.ft.com/ftgateway/superpage.ft?ne...4465&page=1 Always keep in mind: central banks often act in an extremely stupid manner.

So, I take it, Peter Spencer sees no problem in poor people being squeezed by inflation?

I don't necessarily disagree. I am still in physical gold and silver bullion only. Sort of waiting for an equities crash to load my boat with mining shares. Not sure whether it will happen, though. NY tries to keep gold below $900.

Oh-oh. Gloomberg: Oil Surges to Record Above $127 on Speculation China Will Boost Purchases http://www.bloomberg.com/apps/news?pid=206...&refer=home It's a bubble, right? EDIT: The shiny yellow one just scratched along the lower side of $900 ($899.50).

The EUR and gold are rather disconnected recently, which is good for my balance sheet since I am accounting in GBP and EUR. So, a plunge in the EUR or GBP and at the same time gold stable or up makes it look much better. Too bad I have a GBP income. Oh dear. EDIT: Didn't trader Dan say that $900 is resistance? Maybe NY will just let tank gold again.

Wasn't me. Someone else must have bought a little.

Couldn't agree more. It doesn't look good. And pledges to maintain present base rates levels won't help that much.

Each color is a year. Since there are only 4 colors, they get repeated after 4 years. BTW, I think we're seeing a real Gold-EUR Anomaly here, an outlier so to speak. My guess is that it will be vanishing along the red arrow in the chart below.

Silver looks a little as if it was coiling.

Where will the Dow and gold go next?

Hmm. Does Zimbabwe publish their M3? Or is it a banana republic and doesn't?

http://radio.goldseek.com/shows/2008/05.10...-05.10.08-c.mp3 At 1:26:35 he says: "at the moment I am totally out of precious metals... sold out when gold went over 1,000".

Good, old-fashioned hyper-inflation at work. I wonder whether they can still be bothered to print all these zeros on both sides of the note. In Germany they didn't towards the end. The central bank has issued a 500m Zimbabwe dollar banknote, worth US$2, to try to ease cash shortages amid the world's highest rate of inflation. http://news.bbc.co.uk/1/hi/world/africa/7402943.stm

CIGA I agree with you that Saxena will be back - he said himself he would definitely buy back into gold below $800/750 and Silver below $15. I assume he would also buy back when he thinks the bottom has been in. What I meant to say is that the correction we're seeing is possibly mostly caused by the bulls themselves. Even Sinclair said he was sure gold would plummet after reaching $1,000. I would bet he sold/traded a lot around this time, basically helping to shape the plunge himself. Now, I don't know this for sure, of course, it's just an assumption. The point is, the bulls might simply be fooling themselves here to some extent. Self-fulfilling prophecy kind of thing.

A few more days like today and we will shoot over $1,000. IMO, there are a lot of bulls waiting on the sideline. Take Puru Saxena. He just said on GSR that he sold ALL precious metals and related shares in the recent downturn. With bulls like this, who needs bears? And surely one needs no Cartel to explain price moves. IMO, people who trade like this will be panicked back into the market when we see a few bullish days in a row.

I read some of here columns and disagreed with most of them. Agreeing with Baum would be a little like agreeing with Paulson or Bernanke. Just not my thing.

Why did I know even before clicking that this article would be by Mrs Caroline Superbull Baum? OK, I read it back in February. Well, everyone, let's just keep printing. Scary numbers don't matter anymore. Buy gold! Edited to replace 'Brown" by 'Baum', which I mant.

This is what will destroy the Dollar. http://bp1.blogger.com/_FiNhXIv5StE/SCrpXu...alanceSheet.jpg

This IS scary.

That's very nice of him!

That is really good. Just abolish the Fed and the problem is solved.

Yes. That Mrs Flint gave away that the government knows that houses will crash at least 5-10% this year amused me as well. Since governments usually get it wrong, make it a 12%-15%.