romans holiday

Is that a trick question GOM? Treasuries!... hmmm.. but maybe they are not "investments".

Hang on to your hat.... should I say, your gold... anything could happen.

The logic of inflation would seem to dictate that if the plan does not go through... it would be less inflationary and people may sell gold. However, I do not think the market follows this logic at the moment. If the plan doesn't go through people may panic further and buy gold as a safe haven [forgetting about the niceties of inflationary arguments]. If the plan does go through, people may feel safer and there could be a small sell off in gold. For now. Personally, I see a tweaked up version of the plan going through which may bring a short feel good period. Once people start to see the implications that the Paulson Plan has for the dollar, we will see a flight to gold. Before this flight there could be huge volatility up and down.... good opportunities to add to your pot.

Peter Schiff right on the money again. http://www.europac.net/radioshow_archives.asp His no nonsense tell it as it is podcasts have become my favorite. One of the callers; " Ahhhh... I was wondering if you could explain what was going on in the world...." Recent events have given a new meaning to "Wall Street unpsun"

Oh...what a tangled web they weave.

What is the alternative? Socialism? Even though I would not consider myself a purist libertarian, I go with Ron Paul on this one.

The policies of politicians have failed not the "free market". This mess has been caused primarily by Greenspans incredibly stupid monetary policy of setting the price of money too low. This in turn over-inflated the housing market. They have been literally living on borrowed time and should have taken the recessionary medicine years ago. If the markets had been left to price money, as Ron Paul suggests, we would never have had such a debacle. The more they interfer and attempt to reflate the housing market, which is essentially price-fixing, the worse the end result.

Is that really so terrible? There is more to life than productivity. That is something you would hear from Bolcheviks.... hmmm... or economists. A crash may bring about a more salubrious society where people would live within their means... and know their needs instead of their wants.

Not at all. Reality is biting... we have been living in a bubble world as surely as poor Truman Burbank. This thing is out of control. No-one fixes it... the more they try the worse it will become. It is medicine taking time. Edit: Oh wait.... is it too late for Ron Paul to be president? He will make us take the medicine.

"You can't fool all of the people all of the time". I am hoping this crisis, and the proposed solutions, will help people see how corrupt the system is. If it doesn't, maybe this maxim is falsfied.

I thought America was too big too fail.

Yep, and I would add Bernanke and Paulson to that. Thinking keystone cops and Buster Keaton here. Gotta laugh at the absurdity of things. http://kr.youtube.com/watch?v=DlkdtS8OFlA

Couldn't agree more. But if you must... do so with fear and trepidation, with a teeny weeny portion of your position, dipping only your little toe in the water.

Sounds like the Paulson Plan is being steam-rollered through tonight.

I am not a trader but I will consider selling and buying back a very small portion of my holding if we see gold go on another parabolic move up shortly [i am not saying it will go up... it may go down... who knows... the markets are crazy these days. Also, I am talking short term here.... long term it is only going one way in my opinion]. If POG does not dip down after a possible parabolic move, and after selling a little... no harm done... I have pocketed a little cash [i am mostly in metal now]... or can just re-buy at a similiar price. Of course, there is the chance that POG will keep going up... that is why I would only do this with a small portion.... it's essentially a gamble. I wonder given all the confusion and nutty behaviour of the markets whether we might not continue to see huge corrections and parabolic moves all over the place. My core holding is a long term gold bull... but I will start to consider selling a small proportion of my holding at the height of a possible fishing line in order to add more to my position on a possible dip. The massive volatility could be used to our advantage but I do not really consider the above trading and would sell any of my metal with much trepidation... hence only a little.

Think you need a third category there... gold trader.

I think the markets are as confused as you! Your avatar cracks me up.

Yep, but might hang onto a little for posterity.... may have some numismatic value.

That is one stunning chart! Well shows the battles between the forces of economic "good and evil". Edit: There may still be some profit taking to come with further weak hands shaken out, but as investors get increasingly nervous with the dollar and gold continues on a parabolic path I reckon it will break out soon.

Nicely stated. And I would add the dollar as money is breaking down at the moment. 1. is problematic, 2. is seriously in trouble with the liquidity freeze, watch 3. As the dollar devalues, I think we will then have the mother of all currency crises. Gold will truly come into its own as money then.

You do not always have to reduce something to one single category. Gold is both a currency and a commodity... and also money. Economically speaking, it is a triune substance.

I think the euphoria [idiocy] of last week is wearing off. Investors are starting to think of the ramifications of rtc2 which can only mean one thing for POG. Does not mean that another dip couldn't happen... but I think this is becoming increasingly unlikely now that gold is coming more into its own... notice that the commodities are also performing well.

Hold gold in gold in the palm of your hand my friend. It's the king of currencies... and has just gone through 900.

Indeed.... post RTC2 I feel like I can just sit back and enjoy the ride. Edited.

Ahh... won't be long now.