romans holiday

After it's gravity defying straight up in the air titanic act, is the dollar finally starting to submerge? Dollar index down to 84 now.

If you are persuaded the pound is toast then obviously 100% into gold. If you are less concerned about the pound but still worried about the general economy then 50%. Straight in. Gold, more than protection or insurance, should be thought of today as an alternative currency imo. 825

$1,470 in my native currency. the kiwi dollar

Gold showing strength. Going back through 800.

I believe the average historic ratio is 15:1. Gold could stay well above this ratio as mr market increasingly recognizes its monetary qualities. The coming crises in currencies will see it rocket imo. Edit: looking for trends in charts is extremely problematic in a macro environment in flux. The "background" to those charts, the indices on which they are based, are about to be warped big time. The currency crisis will hit all prices like a whirlwind. Only the solid value of gold, the strongest symbol of money, will be left standing.

Looking on the bright side. The gold/oil ratio is nearing 18:1. Compare that to a few months back when the ratio was 6:1. Gold is holding up well.

How about a downleg in all currencies? Competitive currency devaluation anyone? http://english.aljazeera.net/news/asia-pac...2152176956.html

November US unemployment rate just came out. 533,000 nonfarm payroll jobs lost! Largest monthly drop since Dec 1974. Unemployment rate has gone from 6.5% to 6.7% This is starting to look very nasty. Edit: Gold, oil, DOW all down.

I'm sure those cats will be back amongst the pidgeons soon. meow coo coo snort.

Are people shorting gold?? Hard to comprehend that.

Yeah... good point. I guess it depends how much you have gone into gold. If you have a large proportion or even most of your cash in gold then it becomes more of a currency in its own right to you and the price in other currencies becomes less significant. Of course, if you are looking to increase your position in gold the price concerns you a lot more. As for timing a buy, I guess there are just two options; either average in or wait for a dip given the current macro situation.

Do you think about the price of dollars? Or the price of pounds? Most people don't because they are currencies which price other things. Think of gold as a currency also and you will cease to worry about the "price" of it. It will also do wonders for your peace of mind.

Yep, have to agree. I think we will see new lows in everything soon. For my holidays I am off to New Zealand in a few weeks time. I have six weeks there so thought I might try my hand at gold panning just for the hell of it. If I don't find anything, I will buy some mining companies.

Platinum could overtake gold on the downside here. Hmmm... gold..platinum... platinum.. gold. Nah... sticking with gold. I reckon we will see platinum well below gold in the near future. Possibly will buy when it gets down to 600.

The latest episode of CNBC Muppet Show. Kermit: "Latest reports, the pound might go away!" Piggie : "Wow! At least that's a vote of confidence for the Euro!"

I don't really mind if either POG spikes up or spikes down. If it goes up, will sell a little... if it goes down, will buy a little. Wish it would get back to its habitual volatility and stop meandering around at this level.

I think this is why we should consider gold as a base currency; the exit from a contracting bubble economy. From the perspective of an investor looking to secure property [real wealth] when between a rock and a hard place. The theoretical rock. In a conventional chronic/hyper inflation you want to be in assets/property, and even have debt, as currency either slowly or quickly depreciates. Way out; go into property of some kind. If you can not afford property buy gold which doubles as an asset and an inflation proof currency. Use your deposit for a mortgage at some stage. The practical hard place. We are experiencing deflation where all assets are devaluing and cash it would seem is the place to be. However, with the theoretical rock [inflation] hanging above our heads and waiting to drop we feel it must come down to a matter of timing; wait for asset prices to decline then jump in as the tide turns to inflation. But the wild card here is that cash seems itself vulnerable to depreciation in the waiting period. Way out; buy gold the strongest symbol of money known and if anything is able to resist the force of deflation it will. Timing no longer matters as you can both wait for assets to decline and if hyper kicks in your currency is inflation proof.

Whether we see 650 again would surely depend on whether we see another bout of deleveraging by the hedgies and another panic sell off in the DOW. We could just be in a rally of a few months before the downward trend reasserts itself... most probably with more bank failures, further damage in the real economy and increasing unemployment. Best perhaps to try and keep some powder dry.

I get the sense that all the parts have now been set in motion and can only play themselves out. I just feel like a spectator now; what was before an intellectual exercise has now turned into a sense of foreboding.. or dare I say dread. It is like watching a train crash.... in slow motion. All that remains is to see which side of the tracks the wreckage will go.

yes, do not chase gold up. If anything sell a bit on the spike and buy again on the "smackdown" which will come. We have not seen capitulation and panic in the markets yet.

Hang on a sec... that has to be an oxymoron.

15 and a half pounds of something for a gram of something. On a set of scales that's saying something!

Mish on the TALF. Bailout Approaches $8 Trillion http://howestreet.com/audiovideo/index.php...ediaplayer/1034 What does TALF stand for? Try Another Lame Freebie.

Yes, yes, yes.. he he he.. I am waiting for this in order to sell... in order to buy on the knockdown... he he [rubs his greedy little hands together]

It may work for a few nervous fillies... but once the herd gets a real fright and stampedes, TPTB will get squashed. Paulson's speaking now!