romans holiday
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Posts posted by romans holiday
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Hoping it stays in the doldrums for just a little while longer [ decent funds coming through on friday]. I have a sneaking suspicion it may be the last time I will be buying gold. Why, you may ask. I feel that once the Autumn season arrives, POG will catch a breeze and leave me behind.
All good things must come to an end I guess, and I have to be glad that I got in when I did.....in my solid little metalic dingy ready to face any storm to come.
Hoping it will buy me an island one day.
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I have to wait a week for funds to come through. Price seems pretty good to me at the mo... but will be just my luck if it goes up a bit next week.
No doubt I will once again buy on payday faster than I can check the spot price.
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oiu! I heard that!
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It's still July here Dr B!
Same! [korea]
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QUOTE
``I would be surprised if Jan. 30 marks the end of the measures,'' said Mark Vitner, senior economist at Wachovia Corp. in Charlotte, North Carolina. ``The credit crunch is very much with us and, if anything, spreading a bit to consumer borrowing.''
Words are powerful things. One thing that continues to bug me is this pithy little phrase "credit crunch". This quaint little phrase, which sounds so innocuous, is surely the misnomer/understatement of the year. Considering that the "credit crunch" may only worsen and bring the capital markets to a grinding halt and in turn possibly usher in a depression, should it not be called a credit crisis, or credit collapse, or bank zombification or some other such serious term?
If things pan out as some here do, it will be the understatement of the century.
Also, interesting article here comparing the depression to what may come.
http://financialsense.com/fsu/editorials/s.../2008/0730.html
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my tea leaves say differently.
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Yes. Another quote that says it all:
QUOTE
``I would be surprised if Jan. 30 marks the end of the measures,'' said Mark Vitner, senior economist at Wachovia Corp. in Charlotte, North Carolina. ``The credit crunch is very much with us and, if anything, spreading a bit to consumer borrowing.''
Words are powerful things. One thing that continues to bug me is this pithy little phrase "credit crunch". This quaint little phrase, which sounds so innocuous, is surely the misnomer/understatement of the year. Considering that the "credit crunch" may only worsen and bring the capital markets to a grinding halt and in turn possibly usher in a depression, should it not be called a credit crisis, or credit collapse, or bank zombification or some other such serious term?
If things pan out as some here do, it will be the understatement of the century.
Also, interesting article here comparing the depression to what may come.
http://financialsense.com/fsu/editorials/s.../2008/0730.html
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Well $900 or there abouts looks good to me (that was where I bought my last lot in Feb).
I think I'll increase my savings from 30% gold to 50%. I'd be tempted to go all in but a bit of fiat will act as a buffer for day to day purchases should the POG drop further / take it's time to rise enough to cover the mint's fees.
Now I'd like a nice top of at least $1800 please Sir!
Sylvester, would you make your mind up! Do you want it to go up or down!?
But seriously, I am in two minds also. If it goes up.... yahoo!. If it stays down or goes down.... I can continue to buy.
The perfect scenario [for the likes of me I guess] is for it to stay down for another six months. Did you hear that PPT!!!
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Ladies and Gentlemen, stay patient. ‘Shorterz Shooting Season’ is only a few weeks away and they are going to be well-fed this year.
Season starts on the glorious 25th of August –the historical optimal date for gold purchase over the last 10 years.
The six best months of performance will soon lie ahead. Take the present now on offer at $900 (if you can, my funds are a few weeks away
)Commiserations. Mine are three weeks away also! But hey, still beats the 25th!
I wonder if this could be the last opportunty... before being priced out of the market.
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I kept on saying this over and over again on Hpc.co.uk but nobody listened. Gold is a currency - the ultimate currency by which all others are judged.
Why be reductionist? How bout saying gold is a triune substance; money, currency and commodity all in one.
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Ha ha! Exactly!
It's just the usual end-of-month-gotta-smack-it-down. Just recharged my BV and GM accounts
Nice. I am too trigger happy these days. Come pay day, must buy gold!
Never know which way it will go.... just want to be in before the "doldrums" are over and Autumn arrives.
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"it's just hit the 200 dma according to my chart "
Thats it! All is forgiven! I am going back to the dollar!
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Bargain gold and silver everybody! Grab it while you can. Thanks Uncle PPT
And all gullible weak handed idiots running to financials.
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One wild bull ride this one. Volatilty seems to be the only certainty these days. Can someone remind me why the summer period is called the doldrums? Nothing doldrummy about this one.
On a brighter note;
Happy anniversary credit crisis!
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Seems to me now is a phenomenally good time to buy.... just a shame I have to wait three weeks for pay day.
..... and that I could not wait last payday.
oh well.... dollar cost averaging and all that right.
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Somewhere between $910 and $920 would be the next major support. Personally I think if it dips below $950 (or $947) it's more likely to be a bear trap than an extended correction. But don't bet your life on it.
Good call two weeks ago Marceau! Look where we are now! I responded that I would bet the ranch if it hit 910. Lucky I do not have a ranch!
But I will tip my virtual hat to you.
I got a little bit enthusiastic at the time.... should have remained with my earlier prediction that gold will track sideways for the summer. Now, come Autumn.......
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Was that the first time someone has said "end of the world's reserve currency" in a podcast like that ?
Perhaps Bill Bonner beat him to it by three days.
http://www.howestreet.com/audiovideo/index...mediaplayer/291
This guy is definitely worth a listen.
"Crazy in California" should be titled "Scary in California."
Of the 6.84 trillion in bank deposits... the total cash on hand in banks is 273 billion.
http://www.howestreet.com/audiovideo/index...mediaplayer/907
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When in doubt where to post.................
Bob Moriarty
The Fannie and Freddie Disaster *AUDIO*
http://www.howestreet.com/audio/moriarty28072008.mp3
from: http://www.howestreet.com/audiovideo/index...mediaplayer/910
Bob makes it crystal clear - the bailout of Fannie and Freddie means the end of the U$D. The Hurricane flag is posted.
Note "end of" not "falling".
I'm gonna go join Jim in China!!
Bill Bonner is not a bad listen also.
http://www.howestreet.com/audiovideo/index...mediaplayer/291
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"Where is the safest place to put your money in the current financial climate?" on the NZ Herald:
http://dynamic.nzherald.co.nz/poll/pub/pol...F67C02CD4F9F10F
This will be tricky for you I bet.
Can anyone spot the missing option ?
Errr... none of the above?
Look how high the bank column is ...with a looming currency crisis and banking problems.
It will only take a few more bankruptcies to see all these depositors get nervous and start to run to the safest of havens.
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what a bunch of numpties.
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That's a very good summary 'romans holiday'
From that interview, one mght also argue that if gold is now at some kind of 'fair value' based upon the old 20 dollar coin metric, then its been undervalued for many recent years. And as we know, when prices of things race up (as gold has been) to meet their fair value, they usually overshoot. Hence, the prediction would be that gold should go much above its current fair value during this current longer bull market
Yep, and something I found a bit strange was though they happily agreed the dollar had been inflated [and debased if I remember correctly] they did not further ask if that would involve some kind of end game for the dollar in the future. Which would of course put gold in an entirely new light.
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Nice interview with the eloquent Paul Van Eeden gold is fairly priced because of the debasment of the US $ it is not "in a BULL market".
and why gold mining shares are underperforming!.
I suspect Paul Van Eden identifies a "bull market" with singular upward "waves". For example he talks about a "bull market" in gold from 2005 until May 2006.... then another "bull market" from August 2007 until March 2008.
Most other commentators recognise what Eden refers to as "bull markets' as "waves", or stages, with these waves belonging to a longer secular market, in which there are both upward and downward waves. They also refer to these long term trends as a "bull market". It seems the semantics here is what leads to the confusion; different people are defining a bull market differently.
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In the March sell-off - which this resembles - we got three big down days, then a bounce for three or four days, then another three down days.
It is possible, if not likely, that this pattern may repeat. In which case we get another down day tomorrow, a bounce and then a retest of 850.
The other thing to note is that Bear Sterns sold off a lot of gold in March as they met their margin calls. Then their famous announcement was made.
Has another big player gone bust here?
Yes, will be very interesting to see if gold gets hammered [bopped] again today.... 9.00 New York time.
Perhaps this is more likely if it rises near 940 in the next few hours [can't keep a good thing down
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Seems to happen at the same time. 9.00 New York time?
GOLD
in Gold, FX, Stocks / Diaries & Blogs
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Happily my funds came through early, and faster than I could check the spot price I got myself a few more ounces. I am of the persuasion that the only dry powder to be had these days is gold and silver.... the other currencies have been compromised, are taking on water and sinking.