romans holiday

Comes down to your own particluar method I guess. Personally I purposely take an agnostic approach to manipulation. It suits me instead to focus on the 20 odd% appeciation of gold year on year in the aggregate.

Looks like as good a point as any if building a core in gold.

Or.... silver had raced up a bit quickly, and now we see the expected consolidation.

A higher high looks to confirm the bottom is in. A retracement to around 30 looks possible over the next month before heading higher.

It's OK to be bearish on silver. But if you have no skin in the game, what's the point of making permanently bearish calls on silver? Surely not to just irritate those who do have skin in the game? Or if long silver and playing the devil's advocate then your posts won't be taken seriously.

Are you shorting?

This is progress... all we need now is 'was' changed to 'is'.

Yes, already hyper-inflated. But the hyper-inflation was in debt. If it acts like a duck and quacks like a duck it is a duck. What are you baking in your cake?

Hang on a sec. Silverfinger well and truly backed up his truck long ago. Don't you think you are over-stating your case here?? I imagine you are in fact backing up your brief-case in order to convert your monthly wages to metal. Me? Just sold goooold in order to put another buy order on a leveraged silver ETF [with silver at around 30]. If it works out, imagine I'll be the first to sell once silver hits 100. There's an exit strategy for you.

There is a sense in which Bernanke could think people like Sinclair as promoting his interests. Bernanke wants to stoke up inflation expectation due to the reality of deflation. Fears of hyper-inflation would be an added bonus. Bernanke's agenda is to get investors out of liquidity and into assets. And then gold is thought by hyper-inflationists and conventional investors just another hedge against inflation like so many other assets.

Moralism on both sides of the debate about gold needs to be dropped. The case for or against gold should be looked at cooly and rationally, without prejudice and without emotion. Rational investors look at what is and what is becoming, not at what ought to be.

What does that have to do with the price of gold [i could have said the price of fish in China]? Gold is a prime form of liquidity, and the volatility in it should be seen akin to currency movements. It's just that in the aggregate this currency continues to appreciate relative to the rest.

Minus the Catastrophism and the sudden universal deluge of money, you might be onto something. That is if 'per day' was swapped with 'per year'.

Oui! Leave goats out of it! My Billygoat would not be impressed to hear off goats and sacrifice in the same sentence.

Most often traders have different methods and time-frames. I could have taken a 50% profit on a leveraged silver ETF, but am more interested in the 1600% profit which might come by holding the position a little longer.

Puritan.

No, you have this quite wrong. You need to draw an significant distinction between gold bugs and gold bulls. I am presently a gold bull, and think gold is in a bull market. I do not think the "sky is the limit" as am not a hyper-inflationist, or a gold bug. I have been predicting for years that gold would steadily appreciate year on year at the rate of 20% odd. This prediction has been well-corroborated so far by the market. I don't not want to get something for nothing, but rather want to purchase property for a just price. At the moment property is wickedly over-inflated and has seen populations sell themselves into debt slavery. The reason for gold appreciating against all currencies, and doubly against assets, is that the market is recognizing it as an alternative currency. Do you read my posts?? Have to wonder when I get lumped in with the "gold cultists". I think my position is perfectly rational. OK, I retract my previous statement after reading this later post.

Here's your potential problem [and my prediction]. Say commodities stay volatile and choppy against the dollar over the next few years. And in turn gold continues to appreciate at 20% odd annually against the dollar as it has been doing. You'll tend to see gold getting very "over-valued" against commodities. Actually, what's happening is gold is appreciating, being monetized informally by the market. In a hyper-deflation, gold has to be the measure of value as national currencies slowly depreciate relative to it. This is no doubt due to the problematic nature of "balance-sheet" currencies today, where governments attempt to off-set a debt deflation.

My point was that if you are looking for gold to be "over-valued" against commodities then you are not thinking of gold as a currency.... that which does the valuing. Instead you see gold and commodities valuing each-other, and potentially in an on-going "see-saw" pattern. There is an important macro-economic point here that you are missing. Here's your quote here: The way I see it the error lies in thinking of it as another commodity, or asset... as a store of wealth instead of a store of value [one of the functions of a currency]. Nope. Core sit and hold in gold, trade silver/ dollar in order to hedge. As you must well know, I'm no gold bug. And critical of cultish thinking. But I am a fully paid up member of the fully hedged gold bull club.

There's a flaw in your argument here... no, the whole argument is flawed. You are still failing to think of gold as a currency. Rather than a thing which is priced, it could instead be what prices all things. Go on, be adventurous and take this Copernican leap of imagination.

Yes, cult-like modes of thinking proliferate because the Internet is by its nature shismatic. It is too easy to gravitate to one site with its one simple transparent idea. The message used to be about some kind of orthodoxy, whether rational or religious. But when the medium becomes the message, thinking is moulded by being wedded to it... the medium. Thought used to develop more flirtatiously and more independently, towards a more opaque reality. We are all heterodox today, and choose what we want to believe. The irony is that this together with the broadband tends to lead in practice to the narrowing of thought [which should be universal] to one particular wavelength - or what is worse a complete lobotomy altogether. I mean, just look at all the faces stuck in Facebook.

http://www.forbes.com/sites/robertlenzner/2012/01/28/gold-is-the-hottest-currency-in-the-world/?partner=yahootix Gold Is The Hottest Currency In The World

Interesting chart and long term stats on silver here: http://www.silverseek.com/article/when-will-silver-reach-new-high

Yes, should be becoming obvious to all by now that the world is turning Japanese.... Zirp for years on end. A few had been arguing this from when the financial crisis first emerged.