Schaublin

On what basis do you claim to know that PM holders cannot think for themselves and slavishly follow 'gurus'? Maybe Central Banks have been listening to the Pied Piper too much and that is why they are selling their fiat for gold? I do keep an eye on various 'experts' but the funny thing is, despite the 'snake oil salesmen', reek of some of them, the underlying facts of debt, monetisation of debt, lack of wealth production etc, are real. If a shady character said that day follows night, one would initially be suspicious that it does! DOYR and you will find that it indeed does. Funny old world.

If the (does he have to be old and gnarly?) trader cannot sell and will not hold he would not give you anything at all. This scenario is pedalled by those in thrall to normalcy bias who just cannot see how the system is unravelling and cling to the idea that their paper will store their wealth in the coming years.

I was trying to think of a mildly amusing reply but realised that lifting a quote from your blog was better: However we have got the top on the weekly, so market reversed. Hitting 400 by early 2012 would be an ideal bottom, but I am not calling 400, I am calling 500. Because there is a strong support at 500 line.

Sometimes, it pays to be lazy - I have not got round to buying more gold since I sold some silver last month. I may wait a little longer - £800 would be nice This drop may be the last chance to acquire gold at these prices but I think many timid types who do not really understand the big picture will be spooked into selling or not seizing this opportunity to buy.

Could be so and a great opportunity to get rid of any fiat still remaining.

UK interest rates have been kept at the record low of 0.5% again by the Bank of England's Monetary Policy Committee. http://www.bbc.co.uk/news/business-13293991 Naive people with GBP savings continue to have their wealth stolen in plain sight.

Strange thing is that ebay prices don't seem to have dropped much. The buyer of small quantities has no problem buying at these low prices from places like CID so for the little guy, there is a connection between the spot price and the physical price but the story may be rather different for someone wanting to buy some tonnes!

This is absolutely correct. Anyone holding GBP will see (has seen/is seeing) its purchasing power drain away. Lots of people on HPC were fixated on the housing bubble and how to profit from the crash but would not listen to those (and indeed abused them) that warned against keeping savings in fiat - the worst possible vehicle for saving wealth. The great thing is, none of this is new - there is a mountain of information about previous economic crises which can be studied and learned from - One's own normalcy bias can be changed with knowledge but unfortunately, the sheeple are fleeced from generation to generation using the same techniques.

I thought the drop was due to you selling 5% of your silver

6 dollar drop instantly. Something is not right.

I think that silver is now over valued in relation to gold - but way under valued in fiat. I will retain some silver as a hedge against being wrong but will continue to swap as the ratio comes down. 10:1 would be good!

Fofoa has written eloquently about silver being out of a job for use as soft money when paper currencies have now have filled the position. I accept his reasoning (and my own beliefs) about this and have swapped 1/3 of my silver to gold (enabling me to acquire twice the gold ounces by virtue of silver's massive gains). I think silver has a long way to go and will ride it some more but will be incrementally swapping for gold along the way.

Yes, ridiculous spread on price - perhaps hoping it will be overlooked on such a small amount and maybe the novelty factor will play a part but even so!

coininvestdirect selling Koala 2011, 1/10oz Silver - first time I have seen such a small silver bullion coin - £9.56 each! Full ounce ounce coins getting too expensive...

I do not know what the next asset class will be but I believe that the future will be about food. Farming in the UK seems to be uneconomical due to a variety of factors but in my opinion mainly because of the over priced GBP and the supermarket's strategy of screwing down the price paid to producers. As others have pointed out, farmland is hard to hide when the state thieves come looking for a way to milk some more tax. Also, it is worth taking note that intensive use of nitrogen fertilisers has ruined much of the soil. Having said that, people have to eat and with increasingly expensive imported oil and fertiliser, food will become ever more expensive. Niche markets can provide real returns even in a collapse. Steel doors which open outwards were bought in their millions in Russia in the early 90s...

It is interesting to contemplate how wealth can be preserved through time against a background of changing technology and shifting geo political power. The most valuable tool is ... yourself! A person's ability to understand what is happening now together with some knowledge of history enables the right decisions to be made. Buying under-valued assets cheap and swapping them when they become over valued applies to gold just as it does to other things. Given what is coming, gold is still very undervalued.

I am not much for interpreting charts but that double top at $1487 looks about as natural as a very unnatural thing - am I imagining it?

Gotta love Ker it is my dutty to warn about a possible crash in precious metals,

Let's not mess about...

I am not sure that ALK should be 'barned' - after all, if he were confined to a barn, we would never get these absolute gems" People prefer to use trusted paper and deposits than bits of metal of unknown quality." http://www.greenenergyinvestors.com/index.php?showtopic=4411&view=findpost&p=211248

No, anyone can see that is a Lion Bar - a well known confectionary treat. Wait a minute... maybe you CAN eat it...

Most nonsensical vid have watched in ages - a lot of talk about 'raw' gold. Don't they know that uncooked gold cannot be eaten? One guy is described as a 'raw raw' dealer complaining he cannot get enough of the raw stuff Mention, of I think, 20 000 and 50 000 tonnes being needed this year - if that were KG it may make some sense. Edit: Your mission is to produce a short video to attempt to persuade the sheeple that gold is in a bubble. To amuse yourself, you may incorporate nonsensical terms and ludicrous numbers. If the video clip is acceptable to us, you will be paid 10 000 tonnes of raw raw.

We are not far off - 38.5:1 now. Only needs a few more dollars on silver to reach 35:1. Not losing faith so much as hedging my bets - RH style except I hedge my silver with gold not dollars

I have overdosed on Zerohedge, Blythe, delivery shenanigans, The Morgue et al - just felt in my water that a two and a half bagger was not to be sniffed at on silver. Total gold ounces increased thanks to selling 1/3 silver. Have to keep one eye on present possibilities and one on the endgame.

Glad I lost my gold in a freak boating accident - don't have to worry about this kind of thing anymore.