G0ldfinger

Next support just above $900? Then the $800s...

If I have the funds tomorrow, I'll definitely buy some gold and silver coins. The larger part I will have to transfer to GM and BV, so, it will take me longer to buy more, i.e. I will average in.

Alright, then. $919. I can't believe I will possibly be able to buy in the $800s!

Is this some central bank action we're seeing here? Kicking it in the back?

$100 down in two days. Not too bad.

There are a lot of reasons why the market tanked today. I know, I know, gold tanked massively more, but keep in mind how tiny the market is. The plunge of the DJIA is the bigger event today. Gloomberg headlines: * Merrill Sues XL Capital Assurance to Force Guarantee of $3 Billion of CDOs * Three-Month Bill Rates Plunge to Lowest Level Since 1958 on Credit Concern

My favourite golden bu11$h1t medley of today: http://www.bloomberg.com/apps/news?pid=206...&refer=home Fantastic bu11$h1t really!

Sounds as if there really WAS a situation. People might have withdrawn substantial amounts last week already. I would be concerned if my bank's share price dropped like a stone. EDIT: A colleague concerned about HBOS approached me last week. He told me ALL his life savings were in one single HBOS account. I told him to diversify ASAP.

You mean almost 300.

Like Northern Rock. They did not actually issue mortgages, but processed them and sold them on. Only, then, something happened...

The event today means that next time gold goes to $1,000 there is no 'correction' needed to let it run to $1,100 and above.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

CC-debt is the next big thing on the crunch agenda.

Any thoughts on platinum? Prices seem more reasonable again, but SA will still need years to sort their power problems. Good time to get in?

:lol: Magpie, always good for a laugh. Anyway, this looks like the pre-Easter sale to me. I hope it continues until I have received and sent off my new funds. I'd love to take advantage of such a dip.

Maybe he has! Jump down, so far.

In other terms, it becomes clearer and clearer that this is about insolvency, not liquidity.

From the Telegraph! http://www.telegraph.co.uk/money/main.jhtm...nchopper119.xml

There are some rumours on the web about HBOS today. In my opinion, Darling will have to nationalize half of the UK banking sector in the end. The UK will be in a depression for a very, very long time since it's all going to be paid for by the British people. http://www.bloomberg.com/apps/news?pid=new...id=as68q6vvGwfY Don't you have to love them? He says exactly the same thing Bear Stearns said a day before the lights went out. NOTE: A bank is liquid as long as everyone does not take their money out. It's a con-game. No con-fidence, no bank.

Is HBOS going belly up today? I need to read through all the news.

This piece seems not to have found its way into the mainstream press. I wonder why. http://www.fin24.com/articles/default/disp...18-1783_2290781 Meanwhile politicians in Germany fear about the Federal tax income. They fear a shortfall of several billion Euros. The same (only much worse) will of course happen in the US. This will bloat the issuance of new Treasuries, while foreign investors stay away already now (see recent Telegraph story). This is Jim Sinclair's formula at work.

"Help, Mr President!"

Interesting thread. Silver is OUT. (Well, if we can believe these stories.) http://goldismoney.info/forums/showthread....405#post1018405

There will be less availability of NEW credit. But the old credit/cash is what the Fed is most concerned about and tries to secure. No one will be allowed to lose their deposit in a bankrun. There is so much 'cash' out there, if only a fraction moves into gold, it will shoot to the moon. There is no need for new credit to make this happen. If only China moved a small fraction of its reserves (all HQ treasuries & cash) into gold, it would literally explode. Silver might lag behind gold, but it will not ignore moves in gold.