HPCsoYESTERDAY
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Posts posted by HPCsoYESTERDAY
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delusional ramblings from Realisttwit:
http://forum.globalhousepricecrash.com/ind...=41580&st=0
As for gold. I no longer believe it will crash to $500. I believe it will drop to $300-$400. When? When it has sunk into enough financial pundits heads that the 20-50 trillion $$$ that has been spent on the global bubble will have huge implications that will lead to severe deflation, perhaps for a generation. I also forecast a commodities collapse many months before the metals began to drop because it was obvious to me that the global HPCs would cause recession/depression and a huge drop off in demand--even in China.
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Dare I tempt fate with a call of "Hi Ho Silver!!"??....
Actually, from a purely selfish perspective I want to load up with some GoldMoney silver.... so what the hell...
Forget the horse -
There's always this little ditty:
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Read what the ATS lady said - people are buying $100K to $200K at a time. I doubt they are buying fiddly coins. They are buying bars, and big ones.
Hello again
I read what she had to say:
.../...
London, 30 September 2008 - Buying of physical gold in London has reached unprecedented levels as investors, still reeling from the demise of banking giants Lehman Brothers and Merrill Lynch, look to safeguard their wealth, the Managing Director of a leading gold bullion and coin dealer said Tuesday.
"The problem over the last two-to-three weeks is availability. There’s an enormous demand from private buyers and very little (gold) in the market," Sandra Conway, Managing Director of ATS Bullion Ltd told TheBullionDesk.com.
Interest is up five-fold on month-ago levels, Conway said, and investors are buying in much larger quantities. Now, buys are frequently worth $250,000-$500,000, up from investments of $100,000-$200,000.
.../....
But how much do these 'big buyers' apply to silver. Granted, the 100oz bars are for Comex etc., but I would still maintain that an 'up the chain' demand will prevail.
Time will tell of course.
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But is it not the small investors or the public that drive a bull market into a mania? We saw this with dotcoms and houses. This is just the beginning.
This is 2003 of the housing market?
The other clue is the junior miners - all pretty much in the dumps
sorry, but can you point me in the right direction of what the ATS lady said - thanks
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This is the Cash price for delivery of physical bars also as far as I know.
There is nothing stopping you buying at that price if you are buying 1000oz bars, is it?
The kitco comment only applies to coins.
It is interesting that you point this out lardoon.
I have thought about this but most of my thoughts are disjointed and point to no outcome. The fact remains that small silver coinage / bullion is still hard to get and/or selling way over spot. Will the price of small coinage / bullion come down when refiners can handle this demand? Is there a lack of buyers of the 1000oz bars because most of the small coin / bullion buyers are priced out? Will we see an 'up the chain' demand reach the 1000oz bars , such that they will be the next silver item (the last!) to disappear from Kitco's inventory. I'm going to stick my neck out here and go for the latter (to the howls of derision from the ag bashers!).
We shall see in the coming months, but note the 1000oz bars are the only silver bullion products kitco sells now and they are the largest, coincidence?
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I noticed. 1 ounce bar for £728.00 including VAT. A good buy? what do you think?
kitco doing 1oz plat eagles for under £600 - but I don't know what p&p+insurance (+tax?) will be?
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platinum being spanked like a naughty child
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http://news.yahoo.com/s/ap/20080926/ap_on_...ancial_meltdown
Congress restarts troubled bailout talks
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But in a sign of continuing division, House Minority Leader John Boehner demanded that "serious consideration" be given to a radically different proposal that provides no government money up front for a financial rescue.
"If such consideration is not given, a large majority of Republicans cannot — and will not — support" the administration's plan, Boehner said in a letter to House Speaker Nancy Pelosi, D-Calif.
.../...
about 10 mins after I posted this on Friday, the original content of the article had been updated such that Boehner's quote had been removed. It seems to me that the mainstream press has tried to steamroll this bail-out since day 1.
Democracy wins today
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Gold $5000.00 By 2012? Dollar Never Recovers?
Peter Schiff talks about Gold ..... "to a couple of numskulls" (my addition in quotes)
silver 500$/oz
I have to say though, I like Schiff and I like Faber, but they both disagree about the $
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I think its about the usd rally we are seeing... europe and the uk are not immune... usd ok then...gold down..
yep - au price in £ doing well
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Is gold a barometer of inflation? Is it? Is it a barometer of peoples confidence in the banking system/currency? If a barometer of inflation then why should gold reach an inflation adjusted level?
Is it dangerous to visit the same forums day by day Jim Sinclair et al? Without considering other points of view?
I just posted this video elsewhere by Marc Faber. He is bullish on the $ and gold.
http://www.cnbc.com/id/15840232?video=868863712
Being $ bullish I would consider to be a different pov
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http://news.yahoo.com/s/ap/20080926/ap_on_...ancial_meltdown
Congress restarts troubled bailout talks
.../...
But in a sign of continuing division, House Minority Leader John Boehner demanded that "serious consideration" be given to a radically different proposal that provides no government money up front for a financial rescue.
"If such consideration is not given, a large majority of Republicans cannot — and will not — support" the administration's plan, Boehner said in a letter to House Speaker Nancy Pelosi, D-Calif.
.../...
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can someone tell me why congress delays bailout approval ? Is there anything else they can do ? no, right?
As Ologhai Jones linked on another thread, there are certain reasons that are probably not in the mainstream media:
http://forum.globalhousepricecrash.com/ind...showtopic=41273
Basically, is McCain using this to his own advantage - will he be the 'saviour'
or....... are the American people being listened to?
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He also did 'Fools Gold', not sure if he was talking about debt backed paper though.
nice one - definitely talking about fiat!
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just supposing that this deal does not go through - I agree with others here that we are looking at some volatility in the pog for a short while but it's safe haven status should prevail.
I will be quite happy to see the pog go down (albeit temporarily
) if it coincided with some of the sh1tbags that benefit from their own personal freebie toxic debt for cash exchange programme having to realize their losses (as well as many of their market fixing manipulative methods). Here's hoping. -
I agree, and generally felt the bail out was a very distasteful but necessary step. But now its getting ridiculous... They're apparently now extending the plan to give money not only to Walt St but also to Main St.
........./..........
In short: Wake up America - there is no such thing as a free lunch!
The US can't buy its way out of it debt mess without being realistic about where that bail out money is coming from, and what major downside there are in getting their hands on that money
I think America might be waking up bigt
Yesterday, I thought this was a done deal, but there are some very vocal members of congress now such as Paul, Kaptur and McCotter all making a stand.
Maybe this is brinkmanship politics but I'm not so sure: my faith in the American political system has changed some what over the last week.
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Looks to me like silver started to take off exponentialy, raising some automated alarm bells for the PPT.
They probably then just squished all PMs by triggerring some compensatory selling.
Hence, silver shot up, and then turned 180 degree and went South. Whereas poor old gold was just bumbling along and got dumped on.
You can also justify this interpretation by what happens next - gold (which had merely been pushed down) will now be deemed 'too low' by the market and will hold these levels or even creep back up today, whereas silver (which went up and then down, so is where it started) may fall somewhat further. They'll probably both end up about 1% down from where all this nonsense started.
...unless the 700B early Christmass gift for bankers is given out today
as good as a done deal now if you ask me, dow up well, McCain reckons it's in the bag and the red herring compensatory payments being squeezed will be the token win for the abstainers
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I hope you guys have your silver in your dirty little hands.
When (not if) COMEX defaults, there is going to be no price.
[url=http://online.wsj.com/article/SB122231175151874367.html?mod=rss_markets_main]http://online.wsj.com/article
nice find cg!
keep it physical people - the AIG fallout effect on the ETC's last week was warning enough!!
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This Is How The Bail Out Will Screw You
Congresswoman Marcy Kaptur's take:
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Sounds like the Paulson Plan is being steam-rollered through tonight.
alright barney!
http://biz.yahoo.com/cnnm/080924/092408_bush_speech.html
Bush may give a speech about the bailout tonight
Wednesday September 24, 10:33 am ET
President Bush may make a prime-time speech as early as Wednesday night to put pressure on Congress to approve a $700 billion plan to bail out Wall Street, a senior administration official told CNN.
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I hope you are right but you could draw all sorts of lines on that chart and come up with any thing you like. Gold goes up and down and seems unaffected by resistance and support levels.
I agree with this to an extent; i.e. this applies very much at the moment as I commented on Saturday. Until we know what's going to happen with the bail-out, everything else is on hold. Once this uncertainty has been removed from the market, ta may play a greater role but until then it's just p1ssing in the wind imho.
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Looking at the behaviour of gold over the last day, do you think the markets are:
1. Frightened the bailout won't go ahead.
2. Frightened the bailout won't work.
3. Relieved the bailout may not go ahead.
all 3?
is the instability and uncertainty now providing a floor regardless?
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Of course it's deflation. It's just that it's deflation being fought with an "inflation cure", and you think that the inflation cure will end up as the dominant force.
some people are so fickle
http://forum.globalhousepricecrash.com/ind...showtopic=40774
"Very dumb idea, basically a big black hole where they swap cash for dodgy assets - if they do this even I might switch to predicting hyperinflation."
tbh, I think romans holiday is right when he/she says we will probably get both - it's maybe better to think of the effects on the $ first and everything else second
) if it coincided with some of the sh1tbags that benefit from their own personal freebie toxic debt for cash exchange programme having to realize their losses (as well as many of their market fixing manipulative methods). Here's hoping.
GOLD
in Gold, FX, Stocks / Diaries & Blogs
Posted
http://www.guardian.co.uk/business/2008/oc...nking.economics
There's gold in them thar' shops: the rush is on
Tucked away beside the ornate entrance of the Savoy hotel in London are the discreet premises of ATS Bullion. Over the last few days staff there have witnessed an unprecedented phenomenon: queues.
The customers are wary savers looking to build their own solution to the global financial crisis and the parlous state of the banking system. They are buying gold.
"There has been enormous demand," said Sandra Conway, managing director at ATS, one of the UK's leading gold coin and bar merchants. "There are very few sellers of physical gold and we have actually had queues of people today."
The world's makers of gold bars and gold coins are running flat out to try to keep up with this surge in demand, but stocks are dwindling, especially of Krugerrands.
Named after Paul Kruger, who led the Boer resistance to the British at the turn of the 19th century, the coins were first minted in South Africa in 1967. Although it was illegal to import them into the UK during the 1970s and 1980s because of apartheid, they have become one of the most widely circulated gold coins in the world. But the £547 coins are becoming more scarce as investors snap them up.
As a result, the Rand Refinery is now operating seven days a week, as is the Austrian mint, which produces the popular Vienna Philharmonic coin.
The US Mint, responsible for ensuring an adequate supply of American coinage since 1792, has been forced to halt sales of its American Buffalo solid 24 carat gold coin because it was running out of supplies. It is also limiting the availability of its 22 carat American Eagle alternative.
Canny investors had also noticed that both one ounce coins cost less than an ounce of gold on the open market at the time, making them incredibly tempting to anyone looking to make a quick return. Having broken through the $1,000 barrier earlier in the year, the gold price has retreated slightly and is now trading at around $880 an ounce. The 2007 American Eagle one ounce coin, however, was going for $789.95 while the 2006 Buffalo coin cost $800 - offering the potential for an instant return of $80-$90.