dst
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Posts posted by dst
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BullionVault customers have been buying the dip
From BullionVault:
Notice on Silver Stocks - 9 May 2011As you will know on the BullionVault Order Board we only sell physical bullion which we own in the vault.
After 3 days of exceptionally heavy demand our stock of silver in the vault has been temporarily exhausted. We have further substantial deliveries scheduled this week.
Please be aware that in this situation offer prices can be unusually high as some sellers may seek materially higher margins than we ordinarily do.
Whether buyer or seller if you are dealing in a sum in excess of 10,000 oz we would be delighted to hear from you on +44 208 600 0130 and we should be able to assist you with our telephone dealing service.
BullionVault
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After some months not being updated, I've just noticed that Spline's excellent website is back up to date.
For UK house price related stuff: www.houseprices.uk.net
Thanks Spline!
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From a couple of days ago - I don't think it has been posted before, nice gold article from iTulip:
Before the FIRE Gold Update: Is $1,237 the new $720? - Eric Janszen
“I’m new here and missed iTulip’s arguments about gold over the previous nine years. Too late to buy gold now?”We've heard this question regularly since 2001, when gold traded at $400, $600, $800, $1000 and expect we'll keep hearing it asked for the next several years.
The question is itself problematic. Buying gold is not like buy stock in Apple Computer, or even like buying a commodity like oil or copper.
A rising stock price reflects the improving earnings prospects of a firm. A rising commodity price reflects either declining commodity supply relative to demand, or declining demand for the currency in which that commodity is traded relative to the supply of that currency, or both. Gold is more complex because it additionally acts as a currency itself (See The Fourth Currency) because it is the only commodity held by central banks. For this reason gold acts as wealth insurance, specifically hedging the impact of excessive government indebtedness on the purchasing power of financial assets. The question “Is it too late to buy gold” is like asking whether it’s too late to insure one’s home against fire. Before the FIRE, no.
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BBC article on new build flats, BTLers pursued for broken contracts, mis-investment etc
Financial shadow cast by city apartmentsContracts were signed for all but one of the apartments, but today only 14 have been bought and are occupied. The withdrawals caused the collapse of the developer, Brampton Asset Management (Leicester) Ltd.
Now the administrator could pursue these buyers through the courts for broken contracts - and the law says that they could be forced into completing the sale.
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Mr Brown says that the market will decide whether it will also be considered as a financial mistake as well. He says that prices will show if the "pile them high and sell them cheap" approach has led to an oversupply.
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I know it is silly but I just like the image:
Back at $1000 - sprinting away or false start?
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Ambrose Evans-Pritchard in the telegraph
China, Bernanke, and the price of gold
What he said about US monetary policy and gold – this bit on the record – would appear to validate the long-held belief of gold bugs that China has fundamentally lost confidence in the US dollar and is going to shift to a partial gold standard through reserve accumulation. -
How do the central banks view gold?
European central banks agree to limit gold sales
LONDON (MarketWatch) -- The European Central Bank, the euro zone's 16 national central banks, the Swedish Riksbank and the Swiss National Bank on Friday released a joint statement announcing a new agreement to limit gold sales over the next five years. Under the plan, annual sales will not exceed 400 tons and total sales over the five-year period, which begins Sept. 27, will not exceed 2,000 tons. "Gold remains an important element of global monetary reserves," the banks said. The central banks also said the International Monetary Fund's intention to sell 403 tons of gold "can be accommodated" under the agreement.
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I haven't seen this posted:
itulip's Eric Janszen gets a bit upset with a gold bashing article:
Long, but worthy read IMO.
Catching a gold basher...
It’s as if the writers of these articles intend to make gold out to be a terrible investment so that investors will be inclined to buy more of the financial products that the Wall Street Journal sells for Wall Street—stocks, bonds, and real estate. Let’s set the record straight.
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One is “lured” into buying gold while real estate, stock, and bond purchases result only from a rigorous and unbiased education in personal finance by a disinterested financial media. If you believe that, then you may also buy the notion that gold “disappoints” while stocks reward, even though as an asset class stocks have consistently disappointed investors since 1998.
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Nice chart of POG measured in a basket of currencies:
http://news.goldseek.com/BullionVault/1243954800.php
The world's money en masse has shed nearly two-thirds of its value in gold since the start of 2000. -
What time do the american markets open again? I forget.
I think the US stock markters open 9:30 - EST which is 2:30pm in good old blighty
But I think the New York Nymex gold starts at 1:30pm?
You thinking that if it doesn't get to $1000 by the US opening it will not happen?
EDIT: From the nymex web site http://www.nymex.com/GC_spec.aspx
Comex Gold
Trading Hours (All times are New York time)
Open outcry trading is conducted from 8:20 AM until 1:30 PM.
Electronic trading is conducted via the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break each day between 5:15 PM and 6:00 PM.
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Gold doesn't look bearish to me. Gold setting off to take out $1000 for the weekend?
I feel like I did march 08 - checking the pog every 30 seconds 986.10
Although by now I should know better 985.80
And the $£ rate has such a big effect on how much gold is worth to me 986.30 £689.72
I am not going to look - oh i pressed refresh again 991.10 woosh!
Slow day at work 990.50 -
OK that is it assault on $1000 cancelled for today - 990.10.
I going for lunch soon so I will stop torturing myself - 988.58
Its just i think i would be more joyful if I knew it was over $1000 - 988.40
Right off to lunch - 990.20, will someone with some money just buy some more right now please!
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Karl Denninger getting spooked last night
I do not know what is going on here, and I don't think I want to.Someone, apparently someone in Asia, wants dollars. A LOT of dollars. There is a forced-liquidation event underway that is massive, it is against all asset classes and it is spreading.
It originated at approximately 7:15 CT this evening and originated out of Asia somewhere. All of the primary currency crosses got hit at once - Euro, Pound, Yen - all weakened dramatically against the dollar and it is still going on. The Asian stock markets got walloped at the same time in coordinated waves of forced selling.
At the same time the US futures markets got nailed as well, down some six handles on the /ES in a near-vertical drop. While this sounds "not that big" to move these markets in a coordinated fashion like this is a trillion-dollar enterprise - this is not some small company that went bankrupt, or even a large company.
Link also has a youtube clip of nuclear explosions....
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A 7min video about people panning for gold to survive in Zimbabwe. 0.1 gram for a loaf of bread.
Zimbabwe - gold for breadMDC activist Sam Chakaipa returns to his village in rural Zimbabwe to find his friends and neighbours starving to death, reduced to panning gold powder from the rivers to exchange for food at an exorbitant rate
http://www.guardian.co.uk/world/video/2009...starvation-food
(From a GHPC thread)
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A little light relief, here is some guys exit policy:
http://globaleconomicanalysis.blogspot.com...ale-in-new.html
Sign of the Times - Gold for Sale in New Orleans -
Sorry if this stratery has been discussed before - I only just found out about it.
I have been watching some of the TV programmes on hedge funds, one of the ideas they use is the long short trade: go long in one stock and short in another similar stock. For example if you think bank A is going to outperform bank B then you go long A and short B. So you make money if A outperforms B, lose if B outperforms A - but you don't lose anything if both the banks crash (the same amount) at the same time.
So if you really think silver is going to outperform gold, then you could go long silver, short gold. So if both PMs fall you don't lose, you only lose if gold outperforms silver. Of course if you think both gold and silver are going to go up it is a bit of a waste of money.
I think the strategy is more short term betting than anything and not for me at the moment, but an interesting idea none the less?
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Mortagage Approvals
Forward indicator suggests UK house prices to be nearly -30% year on year
didn't spline used to do this analysis before he got fed up with the mods at hpc
I believe spline is behind this website: http://www.houseprices.uk.net/
Prediction stuff here (check out figure 3!): http://www.houseprices.uk.net/articles/hou...rice_predictor/
Website also provides the graph on ghpc -> http://www.globalhousepricecrash.com/ghpc_site/graphs.html
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Don't know if this has been posted before:
eBay Precious Metals Exchange
About the Index
The eBay Precious Metals Index is based on data taken from the US eBay site. The purpose of the Index is to provide true price data for gold and silver bullion coins and bars. The Index is published daily around 2AM Pacific Standard Time (GMT -7).
A program was written to retrieve data from eBay for the categories shown in the Index images. The program tries to filter out collectable, commemorative, and unique items. The data is manually inspected to further refine the items included in the Index. All items are from the US eBay site and only items located in the US are included.
Links
To link the current Index images on your site use the following urls:
http://ebaypmx.com/ebaypmx_large.png
http://ebaypmx.com/ebaypmx_small.png
Contact
info@ebaypmx.com
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Bob Moriarty: Laying Out a Feast for Bears and Gold Bugs
In this exclusive interview with The Gold Report, 321gold.com founder Bob Moriarty provides abundant food for thought about the continuing U.S. financial debacle.
Medium Length interview: he seems to mention most things: recent highs in Oz dollar & GDP, cheap juniors, hedge fund deleverage, $596 trillion in derivatives, bankupt USA, dollar death, money supply increase, mal investments, state bailouts, gold standard, Bretton Woods, price inflation, physical holding as insurance, peak oil - you know - the usual stuff.
BM: The correction is going to be that it will go back down, and I think it’s going to be a catastrophic decline. Barron’s had a piece recently talking about Taiwan now selling Fannie Mae and Freddie Mac bonds and Treasury bonds. If that continues or if other countries start doing it, it will be catastrophic for the dollar. I think the U.S. is going to default entirely within the next nine to 10 months. Here’s the situation. The U.S. is bankrupt. As anybody who looks at our debts and obligations should be aware, sooner or later we’re going to have to declare bankruptcy. -
Gold hit a new all time record in £ today:
http://goldnews.bullionvault.com/gold_reco...rates_100820082
Apologies if someone has posted this already.
Page not showing for me, but have a chart anyway, it is 1 year in GBP
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OK, own up, who on here is it?
http://news.bbc.co.uk/1/hi/uk/7657178.stm
Banking on goldFour years ago, fearful of a property crash, David and Maureen Somers sold their house and bought gold.
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Anyone who's even mildly impressed with Gold's move in USD today really out to look at it in turdy currencies... like GBP or NZD or AUD (or NOK, which is being ripped to shreds lately).
Yes I noticed too:
Gold up, Dollar up
For UK buyers back over £500
< 2% off all time high
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Peter Schiff on bailout plan, i think he thinks it is inflationary
http://news.goldseek.com/EuroCapital/1221845122.php
Paulson Goes All In...
Paulson made clear that Congress must pass new legislation to allow the Government to acquire even those loans too poorly collateralized to currently qualify for GSE or FHA absorption. The losses baked into these mortgage products, which Wall Street has been reluctant to even estimate, will now be borne wholly by taxpayers.
Paulson assured us that this plan was designed to safeguard our savings. But in typical government fashion, the plan will have the reverse effect as savings is wiped out through inflation.
The U.S. dollar will be shattered beyond repair. Interestingly, while both Paulson and President Bush acknowledge that the plan will put “significant amounts of taxpayer dollars on the line,” they did not mention any tax increases. Given the politics, no such move is forthcoming. The printing press is their only solution.
Further, since I assume the plan will apply to all mortgage debt, U.S. taxpayers will also be on the hook to bail out foreign institutions that loaded up on the financial sludge. However, once the government takes them off the hook, do not expect them to re-invest the windfall back into other U.S. dollar denominated assets. This get-out-of-jail free card will likely scare them straight. The global mass exodus from the U.S. dollar and Treasury debt is about to begin: do not get caught in the stampede.
UK House prices: News & Views
in NEWS Commentary, 2021 & Beyond
Posted
It looks to me like a Spring Bounce is on the cards, but if the new money slows after the stamp duty holiday then we could heading back negative in the second half of 2012.