narco

I realise they are both unbacked paper but i'm thinking out a timeline for what I see coming. 1) Some GBP will initially be needed for the run on the banks. 2) After an emergency bank holiday period, GBP loses a significant amount of it's exchange value and then rapidly spirals downward. As the pound evaporates, I can imagine people automatically moving towards stronger currencies to trade with so it makes sense to hold some.

What are people's thought on Swiss Francs? I'm looking to diversify everything into the most liquid SHTF money available. Although gold and silver would no question become the currency of choice, I think Swiss Francs may offer some diversification during the inital transition period and be useful as smaller denominations. £1 currently buys 2 Swiss Francs. I do not want to hold anything in a bank, shares or anything like that so I'm thinking of this as my physical allocation: 50% physical Gold 40% physical Silver 8% cash Swiss Francs (?) 2% cash GBP

Another Gold $1200 forecast http://www.marketoracle.co.uk/Article6431.html

Interesting technical view on the USD / EUR future on dailyfx http://www.dailyfx.com/story/dailyfx_repor...2118478130.html

Bounced of $895, currently $890

Looks like we broke out of the wedge so 1.47 looks like the next target.

Yeah too many cans and can't be arsed posting this kind of stuff on HPC.

I'm not liking this rising wedge on the EUR / USD chart. We need to break out of this. A break above 1.46 here would be nicely bullish for gold.

Interesting to hear the LIBOR thoughts. I checked the current rates and although there was a large spike, rates were down on friday where gold lease rates were up sharply. http://markets.ft.com/ft/markets/reports/F...ckey=MNY-190908

Hmmmm Where's cgnao on this thread.

Any Idea why Tim Wood's interview was pulled from the financial sense broadcast part 1 today?

Nice to see gold climb at a steady pace. These rockets up and down of the last few days make me anxious.

Lease rates straight back up again. Lift off???

Gold crashes down on how this fixes the system then back up over $850 since people realise what this means.. lol Stick with physical and avoid trading this market.

Karl Denninger now talking seriously about hyperinflation. http://market-ticker.denninger.net/

No morning NY dump today then... Maybe they will stand aside while their banking buddies armed with fresh liquidy all pile in?

This is crazy! Gold moved up so fast without any movement in the dollar. Maybe some large entities knows something big is set to blow up... imminently? Slightly worrying, yet pleasing. Silver has now broken out also.

Just goes to show what is the real global currency in a time of crisis. It isn't oil and it isn't platinum either. Amazing to see gold rise $60 dollars and USDX barely even move. Breaking $850 today would be incredible. I wonder if all this slosh money being pumped into the markets over the last few days has led to this?

No I think we would be looking more towards the $650 level imo. The PTB have handed my ass to me over the last few months. I've recommended friends and family to by gold who now must be thinking I'm a nut case. With the elections coming soon, I wouldn't want to rule anything out and remain on the defensive side. I'm happy with my stash right now but will only look to seriously add more if the ugly chart plays out.

I would still advise caution. This could potentially become an ugly looking chart if it plays out.

I still would like to see gold past $850 before getting too excited. I don't like the look of the potential major head and shoulders formation that looks similar to what we saw in the dow a few months ago.

I've been reading QuadG's posts on kitco showing Elliot Wave counts in gold. If gold can't break $850 in this rally then he sees $665 in play. Have to admit this chart looks ugly and would follow the full retracements of silver, platinum and palladium.

Any more news on this? I can't find anything on the site.