Perishabull

If this is how they intend on defeating inflation I wish them the best of luck!

Was Romans Holiday slow to give recognition to an amazing call by Pixel8r ✔ Were fellow posters correct to pick up on this ✔ Was Romans Holiday correct to point out the chasm between linear and log ✔ Is it not inordinately boring to see this tension play out on the forum ✔ Can we switch from the Punch and Judy show back to the proper debate channel please? ✔ Has anyone else seen Max Keiser's clarion call for everyone to buy one ounce of silver? If sufficient numbers were to do this then JPM's infamous PM short would face a 9 on the richter scale...

Romans holiday = 0 + Pixel8r = 0 + Warpig = 0 = Intellectual content = 0 ∴ indication gold going down = 1

What I see is this. There has been recent euphoria on this thread, it seems to be in the process of evaporating, leaving a void. Romans holiday may well be proved correct here with his dollar views and that it why I think he is the current target.

I don't want to reopen this debate however I think the issue here has been with the perhaps mis-perceived use of the word problem, or it could be the mis-use of the word problem, more likely a bit of both here. Only a fool would dispute that Pixel8r has been anything other than bang on the money with his call. Romans holiday makes a very acute point about linear versus log since viewed in linear it looks precarious whereas in log it is anything but. This is a very important point since the vast majority of those looking at charts will be looking at linear and therefore will be more prone to making judgements as to whether it is bearish or bullish. Put a log chart in front of them and all becomes clear. I find it very interesting that the same information illustrated in slightly different ways can have this effect.

Wow, I think this could be quite significant. Yesterday I was thinking about how supermarkets could operate a dual pricing system so £ and gold grams but they don't have a mechanism to accept payment in anything other than Sterling. Clearly if Tesco are doing this it could be an initial step into that arena...

Have you got a recent CPI adjusted price of silver chart?

If you want to buy a futures contract you have to put down an initial deposit in order to initiate the trade. The deposit is called margin in industry parlance. So whereas the previous deposit was $5000, it has been increased to $6500. This ties up more working capital of those that are trading, and can have a dampening effect on prices and volume. Interestingly enough I was considering buying a mini future contract in silver just before it took a tumble today. I don't normally trade futures and I sure am glad I didn't make a special exception this time! Just when it started to look like a penalty kick with no goalkeeper...

This was always an element I was concerned about regarding PMs. Of course it can affect price short term but not long term.

It does also look like a rhino horn though

Silver down $1 inside 40 mins - is this an interim top?

You'll need to invest in a wide screen monitor soon

I sold all my GDX a while back, it would have been a dumb decision had I not swapped it for physical silver Still have mixed feelings about whether it was the right thing to do though

My girlfriend and I were discussing this with our evening meal, the world is in a mess due to the fact that politicians are unable to admit to their mistakes as it potentially compromises their source of income. I posted sometime ago that I thought Gold miners would decouple from the broader market, this chart suggests it happened in April;

Yeah I bought a load of it yesterday. I already have a physical position through Goldmoney but I also have a trading account in the US and I used some of that to buy PSLV. As it's early days it isn't going to track Silver as well as SLV however I don't believe SLV will be worth anything in a SHTF situation. If I buy physical in my hand in the UK I need to pay VAT whereas if I buy PSLV I don't so although there is a premium to NAV (currently 3.85%), it's irrelevant. It's more important for me to have a reliable product. The actual silver is held by the Royal Canadian Mint and it's also held outside of US and UK so that's another plus point. Eric Sprott himself comes across as a very decent guy, if you listen to him in interviews. For those that aren't aware see Sprott Physical Silver Trust

You'll get killed holding that for any length of time VXX Marches Towards Zero, Is VIX Heading Back to 25? Why VXX Is a Bad Play Early Performance Indicates VXX Is a Horrible Volatility Product But don't take my word for it I suspect that VXX is the equivalent of UNG for natural gas. UNG is basically a vehicle to extract as many $$$ out of unsuspecting retail traders as possible who simply do not understand how it works. The following chart tells you all you need to know, it is VXX divided by the actual VIX, the ratio of VXX to VIX over time, it's going lower - fast It's a very expensive way to hedge

Gold Silver ratio 52 Amazing

YEEEEEEEEEEEEEHAAAAAAAAAAAAAA +$1 Thanks Bennie

Heyyyyyyyyy....wait a minute, when I logged into his instablog he had a chart posted saying gold's going to $1500!

Unfortunately this is a very dangerous assumption, as the statement on Goldfingers chart shows many will be caught out by just a small rise in interest rates. I used to work for a firm of financial advisors, they would routinely advise people to go for short term discount rate or tracker mortgages despite rates being way below the long term average. That was a serious problem since the more prudent longer term fixed rate mortgages, at a higher cost, don't look so immediately attractive and most would go for the lower initial cost since they were told by the advisors they would be able to get a similar cost discount or tracker deal when theirs ended in 2 or 3 years. Of course advisors prefer people being on shorter term deals since it opens up the possibility of another commission payment in 2/3 years rather after a 10 year fix, say.

Rightmove's business model is basically advertising, looking at Google trends they may have seen the high point in traffic to the site for quite some time. As volume dries up in the property market revenues should drop sharply to reflect reality.

One Third of Britons See House Prices Falling, Rightmove Says Looks like that's it for sentiment, volumes are already very low, the wheels are really falling off now

Rightmove closed at 810 today (+3.85%), an all time high! What do you think Bubb?

Yes I should say I mentioned it since in theory if someone is ultra bullish on gold they may have considered such a thing. I certainly would stay well clear of loans etc as there are no foregone conclusions in life save, taxes, idiotic governments and death. Right, so the price would be pegged to M3/MZM, any exchange of gold for Fiat would be based on a fixed ratio. So that's what he means by gold going up and staying up. At the moment then the conscious mind of the market, all collective participants, are coming to the gradual realisation that when fiat doesn't have a sufficiently constrained supply confidence in it's underlying value depletes. It depletes in an inverse correlation to a rising confidence in the value of the naturally constrained supply of gold, an asset that historically has functioned as money. Perhaps this helps explain the steady appreciation in price. So it's a game of chicken in a sense then, those that control money have the option at any time of reinstating a real world link between the two, a link that is actually already there but only in quite an abstract way that takes time to filter through to mass consciousness and make it's mark in reality. So if my thinking is right then the subconscious mind of the market understands: 1) At a fundamental level that one has no inherent true value as supply is only limited by thoughts in the minds of those who control money, 2) That something with a geologically constrained supply must be worth exponentially more than the potentially unlimited supply of fiat. Meanwhile a reversion to the mean in terms of confidence is happening with both fiat and gold. Fiat value = Confidence in limited supply of fiat/Confidence in limited supply of Gold Gold value = Confidence in limited supply of Gold/Confidence in limited supply of fiat Gold being fixed in supply against no fix for fiat results in a defacto David against Goliath, that could also explain why David is really being ignored at the moment, what threat can little David be to Goliath? This argues then that fiat is inordinately overvalued and Gold inordinately undervalued, at the same time it argues that both have reverted wildly from their instrinsic fundamental mean value of 0 (illusion) and 1 (reality). Nixon being the ultimate nut in trying to kill off the reality of the situation in 1971. Looking at it from the confidence angle, trust is slowly built over time whereas confidence is lost in quite the parabolic exponential curve. I now think I understand why Jim Sinclair sees it going parabolic, it's because the confidence in paper will be lost along the same parabola that all losses of confidence follow. Apologies for the length but writing this has made thinks clearer for me. The dangers then are that governments get in the way of the ultimate reversion to the mean by somehow trying to destroy what is happening via punitive taxation, making it illegal to trade or confiscation (the latter being highly unlikely I would have thought). Punitive taxation and trading restrictions then are the unknowns for gold here then?

Interesting, I was just curious as some seem so uber bullish on it. I have silver in a GM account but as 33% of my liquid wealth it's more of a hedge against a SHTF scenario rather than an all on red situation. There are exceptionally strong arguments for the PM case and I really want Jim Sinclair to be right in his call of $1650, he seems to be some kind of genius. What I struggle with is the argument that gold backed money is a limiting factor to growth in the economy...how exactly would a gold certificate ratio work?