Armchair

Johan vds,

 

I fully agree. Having worked in Govt. news for a while, I do find the idea that the 'Men in Grey Suits' can set the news agenda to this level absolutely laughable. [Either that or myself and all I worked with were news muppets whilst the 'real' Men in Grey Suits sat, unknown to me, in a secret office far closer to Downing Street than mine was (ooh, about 150 yards).]

 

No, I reckon we are spotting a bit of mainstream interest in gold. Everyone is nervous about where to put their money. Don't forget, most people on a board like this spot every story on Gold in the mainstream press because we are looking for them (perhaps to confirm our prejudices?). Only a small percentage of people read the Guardian/listen to Radio 4 and only a smaller percentage of those would have (i) read/listened to these stories and (ii) acted upon them.

Eh? You're seriously suggesting that if the PMOS briefed that gold was a better investment than shares it wouldn't be across every media outlet the very next day? (i'm not suggesting he would, or ever did.)

I think what is more likely is that journalists seem to be more overworked (or lazy, who can tell) these days and tend to repeat press releases and Associated Press reports rather than actually investigating anything. That's why suddenly Sky, the BBC and all the papers will all be talking about the same thing, as the AP have issued a press release that gold is interesting today.

Also journalists who write the 'right things' (i.e. toe the line that the editor / paper owner expects) are employed and then promoted. Those who speak out against the interests of the owners end up jobless (i.e. don't slag off 4x4's in the Guardian too much as car companies make up 1/4 of the advertising revenue for the paper).

 

I think it has never been easier for those in power to get any message they want out.

It's always interesting to look at stories in Google news and compare the language used, often you can spot a key phrase that is repeated word for word or almost so across all the papers/websites, do a google search on it and you'll find the press release that all the journos cut and pasted from.

News is a business and if Press Releases take a journo 20 mins to read digest and reword into an article then his/her productivity is up and they can look to write another in the time that a 'real' investigative journalist has produced sweet FA.

Respectfully, BS.

 

Sky news, BBCnews 24, radio 4 and radio 2 all running stories on gold when there are other major stories they could cover. Its hardly a no news day, is it? Some may have worked in a news room but have you worked with the lords that govern the BBC? What do you think they do all day? Yes I'm skeptical of the world around me but for good reasons!

Azazel/Johann,

In my less than humble opinion you should both watch the below, Chomsky educates a young(er) Andrew Marr on how you don't need to be a red-in-tooth-and-claw conspiracy theorist to explain how the media is manipulated (by itself as much as anything). Marr's inability to counter Chomsky's arguments (they've obviously never occurred to him) or even frame his questions particularly well is evident in Marr's frustration.

It's long, and in three parts but worth it, notable is Chomsky's suggestion that the "better" journos do try and get things past the system when they think the system won't notice it.

http://uk.youtube.com/watch?v=FSuaGIKTaEA&...feature=related

BBC have been running stories on gold today today. On radio2, after Jeremy Vines show on the two o'clock news, there was a short interview with Sandra Conway, manager of ATS. Click link below and forward to 2:00.00 after the northern cock story

 

http://www.bbc.co.uk/iplayer/episode/b00dpq6j/

 

Radio4 also had some stories on PM at 17.55 approx.

Guy from Bullion Vault was also interviewed on the Chris Evans thing on Radio 2 this evening. The PM one had someone from the world gold council I think.

I was feeling the same. Two things you should know.

1) BV is connected to the physical market - people who own LBMA Good delivery bars can sell the physical. So if they can pick up your gold cheaper, they will, and they'll sell it to LBMA members and make a profit, but the price in BV will then be moved toward physical LBMA prices by their actions. So, summary: no need to worry.

 

2) There is a way to do it if you REALLY want out of BV - here NOTE I have assumed your BVaccount is 'validated' - otherwise you will not be able to withdraw yet. Anyway.. here goes...

I reccomend doing it in chunks, but you could sell in BV and immediately buy at coininvestdirect.

Then call BV, make the withdrawal but specify that you want a CHAPS withrawal (costs 20 quid) if u r in the UK.

The funds should arrive in your bank the next day.

Meanwhile CID will send you an invoice. You then send the cash to them (again by CHAPS) and all is ok.

It worked for me, and in a week when gold went up 12% for a LARGE order. They didn't baulk at all even though I was a bit nervous they might go back on the contract.

 

Number (2) I would NOT recommend in today's banking crisis. Sit tight is my advice.

Good Points.

I suppose the reality is that I've been reasonably certain of the economic SHTF for a while, and have therefore been in BV gold for a little over 12 months, but as this thing has progressed I'm now leaning more to the baked beans and bottled water approach.

It's very annoying that despite my best efforts I can't plan for the future because others have made such a complete phuck up of it.

The gits.

The difference between the spot price of Gold and the price you pay to actually hold some in your hand is such a very clear sign of where this is going.

As someone with all their gold in Bullion Vault I'm beginning to worry!

If I sell in Bullion Vault now and buy some coins it'll be next week before it all clears, and that may be too late!

Anyone else feeling the same way or has tonight just finally spooked me too much?

Just want to point out the obvious, in that all the advice of the bulls has so far proved correct:

*Don't buy on margin

*Don't trade

*Buy physical or through Bullionvault or Goldmoney, NOT paper.

Good Luck one and all.

My thanks to everyone for their thoughts.

For myself, I remain someone who believes that on the balance of probabilities gold will probably go up in the medium/long term. I have to admit though that my confidence has fallen from - to give an illustrative figure - maybe 70% to 55% today.

Goldfinger et al are quite correct in that the fundamentals*, on a historical basis, are very strong. But, as someone once said the market can remain irrational longer than you can remain solvent. I certainly don't think it's possible to trade in and out of this market regularly and expect anything but losses.

My worry is that despite the fundamentals, despite a new russian war... the reality is that since March the average price has dropped steadily. The five year chart looks ugly.

This recent drop from $950ish has been precipitous, I told myself I'd sell at a safe-ish $840 if it dropped that far, and today I duly did. This is by no means the end of my flirtation with Gold though I hope, I will buy back in at some stage as long as the price does not continue its current fall.

...I see the price as an elastic band, the markets/PPT/whatever you want to call the realities moving the price, can push and push the price down, but in the end if they slip for a second it just means that the harder they pushed on the way down the harder it will spring back into their faces on the way up... this spring back up could be the price rocket many have predicted...

It is of course also possible that the markets push the elastic band so hard it snaps.

*-Monetary inflation for 15 years

-HPC

-Stock market over-valuation

-Transfer of wealth from west to east and possibility/likelihood of financial paradigm shift occurring in the process

-Real interest rates negative

-Close to? at? peak oil

In the final analysis I may have less confidence in gold than I did a month ago, but where else is a better place for your cash right now?

Hi all.

Long time lurker, here and at HPC. Just thought I'd say thanks to all for your analysis and efforts to inform.

Also, I'd like you all to fill in your own set of noxious expletives here to represent my lack of satisfaction with the Gold price itself. It seems to me that virtually all broader economic trends predicted by some (cgnao's impressive prognostication stands out perhaps - frighteningly) are coming true, but Gold isn't reacting the way one would assume.

I'm not a bear on Gold, and not looking to get flamed, and I still expect a significant upwards move (otherwise I wouldn't own any!) but a summer of lateral only moving will test my nerves!

Thanks again to all, but particularly the long time posters here, and the refugees from HPC.