anciom

Please

Last reasonable excuse for a good correction is August 2nd Deadline.

But i wont hold my breath.

 

i feel partly the opposite. it will have most of the globe running for cover and the only real cover at the moment globally is GLD. this is one of the key moments i have been waiting 6 years for.

if america is struggling to repay $14 trillion, or needing to address it. what will happen to our £8.4 trillion ? where does that stand the £ against GLD

there may possibly be an excellent very short term 'shock' dip as the dollar gains if a deal is reached, thats the time to buy in with your £s. (if it happens, but i feel it wont) because we know it, and they know that the next institution on the block is the BoE and the £ and we have the same debt but with micro exports in comparison.

its going to be a turkey shoot late august.

if there is a dip mon/tues/weds. get in fast and hold.

Count me in on that, probably along with everyone else with more than half a brain.

 

I can't imagine the level of disillusionment that will be around when he is exposed as no more the solution to the USA's problems than his predecessor was. There's just no integrity there.

 

Still, his downfall will do two positive things - peel more liberals and floating voters away from the socialist left (which will become increasingly militant and 'Soviet' in tone once existing socialist policies fail) and greatly add to society's gradual (and painful) reintroduction to reality.

well/ what else did anyone expect him to do ?

he cant produce the debt from his arse, so words will have to do.

unless the entire globe prints up the jam it will only at best produce a small few months of delay, possibly a year, maybe 2 and with it a bear run on gold whacking the price down. then the real issue will return as it hasnt or wont go away.

we have (UK) borrowed more to rescue the system than in WW2 and it will need to be repaid.

currency bonus !!!

thanks guys.

i noticed when the spot price is in the west it goes down, and when its in the east it rises.

to me this means the west is selling and the east is buying.

But is this mentality not the same as that employed by those who, in predicting the end of the UK property boom, effectively "told the time from a stopped clock" for 4 years over at HPC ?

 

Ologhai's concerns are probably shared by a few forum contributors who, for whatever reason, are too afraid to vocalize their reservations on here given the virtual deification of gold. Absolutism is unwise when it comes to investment IMHO, hence my reluctance to be 100% submerged in PMs.

 

I suspect that if gold went to $500, a LOT of people who didn't get in as early as you did, would be seriously f***ed off; especially if they emulated your 100% PM strategy.

the ebst way to counter this is to buy into shitty bank stocks.

they are so low, that in the case of a $500 oz, then the banks would be sitting pretty again.

though i still think the FTSE will end up at 2800s when all the dust settles.

gold might be $600-700 oz but £1 wont buy a pint of milk.

Yeah, this hammering has really hurt. Over the last two years have consistently made most of the common mistakes, over leverage, selling low and buying high, not taking profits, playing with future (very bad idea!) etc but I had thought I was learning lessons and so losing a bit on the way was part of it.

 

But facing the latest sell off has really had my portfolio hit rock bottom, tried to call the bottom and took on a bit of leverage turned out trying to catch a falling knife is a bad idea, funny that

 

Expensive lessons... but valuable none the less. Still my 50% in physical G&S are not going anywhere, and I am young always time to make more money (I hope!) key will be trying to keep my family prepared for the coming times... maybe they can benefit from my lessons lol

 

Any of you guys suffered really bad losses, and how did you turn things around?

always a rollercoaster it seems. i made the same mistake of not taking the gains and buying back in at the low.

as a hedge i have bought stocks in junky banks and builders, and so it seems as one goes up the other goes down and so on.

so im remaining static to above REAL inflation more or less.

i wasnt looking to make i was looking to preserve. + i got some new business projects moving.

the gold i can leave as a hugely long term pension pot. im not worried really (gulps)

its getting a pounding. meanwhile barrats and the banks are climbing fast.

theres an air of crisis over.

this is all based on the usa sub prime crisis. however, theres a huge sub prime uk problem just begining and also a neg equity default problem looming, so i feel that hpc financial planners opinion of down to $750 before the next run up is possibly the best opinion.

maybe i should buy some more...........................gold.

i remember a spate of high art sales prior to the 90s downturn.

perhaps its a way of avoiding inflation and somewhere to save your big cash money in troubled times.

i think at the time it was van gogh's daffodils or something that set a new record.

and monet was also in the rise.