FWIW

I went for Fundamentalist! 100-1...

I think that is very me!

I got an email from Black Swan Trading (www.blackswantrading.com) today that had this in it, that shows support at $893.

Can anyone point me to a free charting package that allows me to add fibonacci lines to the gold price?

Hold it in preparation for the onslaught of inflation.

 

What is the holder of large amounts of fiat to do, when QE is in effect and about to ramp up. It is better to hold Gold than fiat is it not, when they are creating much more fiat? I now this is a very simple outlook, but it can't be denied in the long run.

 

 

 

A lot of people on here bought over a year ago and have exchanged pounds for gold. They did very well last +44%, so why change back now. Not everyone is concentrating on the daily swings more the big picture.

 

I myself sold a house and put the money into PM's around 1 1/2 years ago and moved into rented. I looked at it as a long term plan, three years or more. During that time I expected houses to go down a lot and gold/silver to rise a lot. So far things are very much going to plan, so why change it because of the daily swings. You maybe able to convince me to change my mind in about another couple of years.

Well said Pixel8r.

Time and history are on our side.

The 'fiat' money masters will be shitting themseves...Some of their kin may already be buying physical gold as we speak!

Its getting to that time of the day, are we going to have a NYC smack down. It must be a oppertunity to good for them to miss

About to enter The Twilight Zone - hold on!

Last time Brown announced selling of our gold it was the absolute bottom!

Same again? You can fool some of the people some of the time, but not all of the people all of the time.

Is the trend really your friend? After reading Martin Armstrong I think we are destined to repeat history.

1 Year view

5 Year view

10 Year view

They announce this:

$1.1tn (£748bn) in resources made available including:

$250bn extra in loans and guarantees to the IMF

$250bn extra in "special drawing rights" to support at least $100bn by development banks

$250bn in support for trade finance

$50bn from IMF gold sales in "concessional finance" for poorer countries

By the end of next year a "concerted fiscal expansion" of $5tn ... raising output by 4%

That $50bn IMF gold sales is worth investigating.

Will we go lower from here though? Depends on the spin of the G20 meeting I guess and then whatever happens in the real world.

My pnf charts are telling me that 885/875 are possibilities if 895 does not hold.

Then I think the rocket pictures will be coming out again, as we have built a solid launch-pad!

Great news if you have some dry powder and are convinced of the medium/long term performance of gold. I mean if gold just went straight up I wouldn't be able to increase my holding. Not being greedy.... just need enough for a house.

 

No harm in wearing a traders hat at times.

I don't know if you remember reading my earlier in the week post, where I thought GBP could not get stronger whilst Gold got weaker...but how wrong was I?

No bother though, as you say keeping some dry powder around is a wise thing to do. Especially if you need to move fast.

I am only 'trading' my gm account so as to get more gold per £.

Back in again with GM at $898/£611.

So now I have more gold than i had before! Could still go down though...i just could not wait any longer!

Gold on sale today at £633 per Oz!!!

Not exactly a picture of health for the US dollar.

GBP wins that ugly race everytime!

Just like the ball held under water!

If you let go it will shoot up!

I suggest the two banks are increasing their net short positions

 

http://www.gata.org/files/PIRATES-OF-THE-COMEX.pdf

Yes you are right (but 3 banks control gold!) and I think that PDF basically sums it all up for me!

I do think however that with each salvo the pirate banks are getting weaker. Gold and silver seem to me to bounce back a lot quicker these days. I am sure the ppt will have another go when "the twilight zone" opens up in an hour or so...

OK - WTF is happening?

Gold went to 909 and is 911 right now!

Why don't you buy some US dollars at goldmoney the next time we see dollar weakness/pound strength? Then you will be in a much better position to buy gold on weakness.

Yes, I took my eye of the ball as I have some gbp bills to pay so thought that leaving it in gbp was no biggy. Lesson has been learnt...i hope!

What the 'eck is dry powder?

Spare cash!

http://www.telegraph.co.uk/finance/persona...-portfolio.html

 

"Paradoxically there is one asset that advisers recommend as a hedge against both inflation and deflation: gold."

 

There was a similar article in this weekend's Sunday Torygraph too.

 

Note also a video on Gold from AEP (but I can't view it...what's it like?): http://www.telegraph.co.uk/finance/persona...-below-900.html

I find Ambrose to be rather annoying. He likes to be a neutral and only 'watch' gold...

He still thinks in terms of gold is in a commodity bubble and will pop one day.

I think he should focus in on what people in the UK should do.

For example, last week I sold (via GM) a small amount of gold at $935. Fully expecting gold to come down to $920 level. Where I miscalculated and re-learnt a valuable lesson was the affect of GBP Vs USD in the space of a week. I sold at £637.40, and price right now is £653.20 or $922.50.

So I now have a little more fiat that could be used as dry powder to get back in; but pog in usd will need to move down and gbp strengthen considerably. Not likely in my book! All is not lost for me though, as I have some gbp bills that need paying and this will take the edge off!

So why am I telling you this sorry tale? Well, being neutral only gets you so far. You need to get your hands dirty to really understand the complexities of gold, and how timing is so important.

Being neutral, is like someone watching cars on a motorway. He will be able to tell you how many and how fast he thinks they are going. If he starts to tell you how cars work and that the cars are on their way to say "disneyland paris", you may wish to question his logic!

3.2% - no f***ing deflation, eh? :lol:

i'm glad you read it - some deflationista's have totally ignored that post!

and some more here:

http://ftalphaville.ft.com/blog/2009/03/24...n-avoided-phew/

Yep, the way I see it is we are in a period of wealth destruction akin to the thirties. This is deflationary. What is really crazy is that the amount of printing might be just drops in a very leaky bucket. At best zero sum game. Looks likely that currencies are caught up in the deflation this time round as unbacked by anything real. They will depreciate. I see gold as the strongest currency and the strongest symbol of money. I would definitely want a decent proportion of my worth in it... and silver.. and perhaps a couple of other fiat currencies for that matter to hedge against my hedge. Diversity in currencies not diversity in assets. If you manage to preserve your capital, buy assets after they have deflated and the storm is over.

This is where you and I differ.

I beleive that fiat currencies exist because the elite want to be able to control the money supply and to ensure that are always on top. With fiat and the required will, there will always be enough paper to go round. There will also be enough 'elite' helpers that will crush the pog or even the 'price of fish' if they so wish.

The issue at the moment is which brand of 'elite' are we going to end up with? The 3rd world 'elites' want to buy into this global theft...

Gold is the only way the common man can protect themselves, even that on it's own may not be enough.

Merv the swerve's letter here: http://www.bankofengland.co.uk/monetarypol...etter090324.pdf

Notice how he wants to increase the money supply...

Errr... how about massive credit/asset/debt deflation? Sure, you can always define/restrict the word deflation to mean what you want it to... but that would just be ...well, ideological.

 

Mind you, ideologies are useful for absolute certainties.

 

Problem is [hyper] inflationary theory predicts pog to either rocket or track steadilly upwards. This has not happened and is not likely to. Much more likely is an extended period of volatility with perhaps higher peaks and who knows also lower dips. Another theory is needed with some explanatory power to "save the appearances".

 

The POG does not determine whether we have an increasing money supply or a decreasing money supply!

Meanwhile, in the real world we see things like this:

http://ftalphaville.ft.com/blog/2009/03/24...ing-for-mervyn/

So you tell me; are we increasing money supply or not?

Also I hear Merv loves this song:

From:

It is all about deflation at the moment. Inflationists are ideologically driven. In the real world and for all pragmatic purposes, deflation is in the driver's seat for now.

There is no spoon deflation...

100% guaranteed by cgnao here http://www.greenenergyinvestors.com/index.php?showtopic=6310

What we have at the moment is a 'rowing' of the economy to the benefit of the few elites (who will be sh**ing themselves by now)...

i think we could see some sustained selling today - the prevailing environment has been temporarily set for a sell off

 

there's so much short term thinking out there at the moment - there maybe some buying opportunities in the days ahead until the latest junkies fix wares off

Yes, I agree. My pnf charts are telling me we could go to around 885-890. My Barclay's Bank indicator is flying high today - this is a bad sign for gold.

I am thinking about getting some more GM at 900ish. If the sales last!

The main point I get from that is that is almost useless looking at non-CPI adjusted stock market charts.

Whether it is REALLY going up or down or staying the same depends on the prevailing price environment.

Glad it's not just me then - I was having real trouble understanding that paper. Thought I was thick or sumink?

Thought i'd share this link with you guys:

http://www.sitkapacific.com/files/Sitka_Pa...ient_Letter.pdf

I'm still trying to understand the key messages, but maybe you guys can help?