romans holiday

I like this idea. You don't happen to have his number handy? EDIT: just found it on the net^^

Problem is I am now stuck in Korea, and I believe you need to go through some identification process with the online bullion accounts. Also, I doubt if I can transfer funds from New Zealand without first setting up some arrangements with them first. Any advice anyone? Bloody frustrating having the money out of reach. I have been buying each month here in Korea, but I am hoping to put a decent amount, which is in NZ, also into gold/silver.

Goldfinger... I am shocked; somehow I couldn't imagine you holding any of that funny money stuff.

I am really hoping for that situation where gold dawdles about before taking off later in the year. I am in the frustrating situation of having cash in the bank but not being able to swap it for gold as am out of the country. I get back in early August and I imagine that will be my last purchase of metals. I hope to sit back and relax after that.

Yeah, I am in the same "boot"... but even worse, can't load up until August If I remember correctly, some commentators on FSN/ goldseek are still calling for movement between these levels and 850. Here's hoping.

Yep, silver looks as good as gold. Some commentators are arguing that the ratio between silver and gold, now at 50-1, may eventually move to 20-1. I am stocking up in August and plan to buy 20 ounces of silver to every ounce of gold.

cheers for that link... always good to listen to marc faber... he seems in good spirits these days despite being the author of the doom and gloom report.

Interesting point was made on FSN today; the myth that raising interest rates has to be negative for gold. They made the point that throughout the 70's rates went from 3% to 21% while at the same time gold also went up. http://financialsense.com/fsn/main.html The third hour, 42 minutes in.

Yes, I agree, cool heads are required. Easier said than done though Watch emotion run riot in the mass mind as people pile into gold in the near future pushing it up.

I suspect the amount the FED has supplied so far in "tax rebates" and "bail outs" is insignificant in comparison to the tidal wave of defaults and bankruptcies that may come. I can not see hyper-inflation as an option therefore the end game of deflation looks more probable. I liked the phrase "zombification" used to refer to banks no longer able to function.

Yes, but credit [the availability of] is also being withdrawn from the consumer and the larger economy. Watch for credit cards to go next. Yep, gold is good for any monetary crisis whichever way it goes. Another article here looking at Japan's deflation. http://globaleconomicanalysis.blogspot.com...ul-kasriel.html

Yes, there are good arguments for both sides of the coin. I wonder if maybe "decoupling" may come to consist of inflation in the East and deflation in the West.. In this scenario, prices will continue to go up in the West until things are simply unaffordable. At that point they will no longer be exported to the West but consumed in the East. My opinions are not fully thought through.

Interesting article on deflation here. Succinctly stated. http://financialsense.com/Market/wrapup.htm Just a thought, but maybe all this talk of inflation [just re-priced commodities due to global competition and a weak dollar] is a red herring. Perhaps the bigger story is credit deflation. 'Gold rose in the great depression, and it is poised to do so again. Recent action (the last several years) in gold is very consistent with deflationary theory about the destruction of credit. Gold, unlike fiat, is no one else's liability. Money with that attribute (and gold is money), should rise under these conditions.' Another nice article on topic here: http://news.goldseek.com/DailyReckoning/1214505689.php

I plan to keep buying where I can while it is under a $1000. That is my plan anyway, I do not know if I will be able to resist gold even at higher prices.

I do not trade either. Would stress me out too much. Let's hope the powers that be do us all a favor and try to keep a lid on gold. Of course, one day in the near future all that building pressure is bound to explode.

People are slowly starting to get it. A Canadian colleague excitedly told me a few months ago how his brother bought a house in Canada for $800,000. And yes, mortgaged up to the eye balls. Surprised him at the time by my inability to supress a groaning noise. Over the next few months had a chance to give him my perspective on the housing market; do not buy, just rent for a few years. Him and his wife [Korean] are returning to Canada this month to live. Talking at a wedding reception, I was happy to hear that they would rent because apparently the house prices were dropping. Yet in confidently replying that that was great and they should rent for a few years as house prices will continue to unwind, I could see that the penny still had not quite dropped as they gave me that dumbfounded intense stare of incomprehensibility.

So much for oil being in a bubble. Looks to be taking out that giant of the DOW, General Motors. Now at a 53 year low.

Yep... but I would imagine the mainstream US investor would consider Viet Nam a bit of a basket case country though.... and it "could not possibly happen here".

IMHO gold will only take off when inflation psychology is rampant. For the average investor [who takes their cues from the mass media and is only aware of inflation as something dimly floating on the horizon] it will take a long period of disastrous economic news for inflation psychology [not inflation perception] to sink in and take hold. This will be the point where Western investors pile into gold pushing the price up. Psychology is the key here, and I imagine we could be a few years away from this. There most probably will be no sudden meltdown soon as the CBs have shown they are perfectly happy to keep inflating until the cows come home.

.... and if I could add... KEEP BUYING! Still a steal at this price. 'cept I think it may take bit longer than that. Houston still has a problem.

It really is starting to look dire. Looks like the "post-developed" countries will have to pull themselves up by their bootstraps by producing for the East.. Jim Rogers made a good move.

Is the power of positive thinking all these Central Banker types can resort to these days? Shows how impotent they really are.

Deflation would seem the likely outcome after a period of chronic inflation, but I can not see how the deflationary option is open to the dollar these days. Given the astronomical debt this would be a disaster. Do you think America may default on its international debt??

Looks to me the support level has been 860-870 for the past two months. I remember, I think it was Goldseek radio, saying they thought the support level was 850. I think we will continue to see these swings for a while until the price settles on the way towards the previous spike at 1000. But this may take a good few months to achieve. The dollar won't give up without a fight.