Pluto

It's not just SLW most of the PM stocks have been going down for the last week or so while the metals have been strengthening. There did seem to be a change yesterday though so we may have shaken out the week hands.

SLW's biz model is dead.

No new suckers willing to give them silver for four bucks an oz.

Meanwhile back in the states......

http://www.usmint.gov/pressroom/?action=pr...ase&id=1219

WASHINGTON - The United States Mint today announced that it is requesting public comment from all interested persons on factors to be considered in conducting research for alternative metallic coinage materials for the production of all circulating coins.

And so it begins....

http://www.foxnews.com/politics/2011/03/04...test=latestnews

Utah House Passes Bill Recognizing Gold, Silver as Legal Tender.....

If the bill passes, Utah would become the first of 13 states that have proposed similar measures. The others states are Colorado, Georgia, Montana, Missouri, Indiana, Iowa, New Hampshire, Oklahoma, South Carolina, Tennessee, Vermont and Washington.

Can we finish today above $1400?

Strap yourselves in boys... 1,500 is gonna come and go with a blink of an eye.

Crack-up boom in progress.

Gold/Silver moving a lot higher while the euro stays flat for the first time in a while....

Euro Monday 961

Today 985

That's a 3% move in three days...

Look's to me the Soviet Euro is getting taken to the woodshed with the the rest of the dead wood.

I have just been researching the author of the article and reading some of the comments below it. Someone is certainly spooked at the current gold price. While the article is generally laughable, perhaps we can gleam that the opposite of what it purports to be the way forward is actually the way forward.

The FT (Fiction Times) is propaganda for the city of London and the rest of the spivs and gangsters worldwide.

America should open its vaults and sell gold

This is all you need to know about the fool who wrote that article in London's City Propaganda rubbish FT (aka toilet paper in the trade).

Edwin Truman:

From 1977 to 1998 Truman directed the Division of International Finance at the Federal Reserve System

From 1983 to 1998 he was a staff economist for the Federal Open Market Committee.

In December 1998, President Bill Clinton, appointed Truman Assistant Secretary of the US Treasury for International Affairs.

In 2001, he joined the Peterson Institute for International Economics as a Senior Fellow.

In 2009, he was recruited by Treasury Secretary Timothy Geithner as a temporary advisor to develop policies for the April 2009 G-20 London summit[4]

Take that banksters and gold shorties...

It is just finding the optimal point of averaging in and this is definately not it. Most of the peaks have been 1.28 x 200 day ma and one has been 1.34. I recognise thatthe risks of this approach is that selling half at 1.28 would mean missing the rare time it goes to 1.34. If it does go to 1.34 x 200 dma I will sell another 1/4 leaving a quarter. The only other scenario is the the final blow off, but we are years away from that. I also accept that buying in a 200 dma means you risk the events like the 2008 stock market panick where gold went much below its 200 dma. However this is a once in a 100 year event and won't be repeated any time soon.

 

With your approach the stuff you buy now you are likely to be under water for for 3-6 months until we get another spike up in the Autumn. The very fact that you are investing in gold means you are streets ahead of average mom n pops investors but I don't think you are optimising your returns.

 

My approach means you are semi trading gold as I sold into the top at the end of Novemeber and bought in again in Feb so was out of the market in december and January. It is basically contrarian investing as most people were panick buying when I sold and panick selling when I bought.

 

Also you need a buy and sell indicator as otherwise you will never exit and when we get the final blow off you will likely be continuing to average in.

 

These are just my thoughts, I hope you don't see this as pontification as I recognise there is more than 1 way to skin a rabbit in the markets and this is just my approach.

 

All the best with your investing.

Put your charts away. No chart is going tell you what is about to happen. The fear in streets will become intense.

.... and so the run on the pound commences. The fear factor increases also.

Are we getting scared yet? Fear is your friend.

who against who?

Take you pick. Whoever the bogey man they pin it to. Then it's world war to distract the proles from what is really going on.

Here's the leader board right now...

Iran

Pakistan

North Korea

Afghanistan

China

Could this be linked to the German PM's dealer selling out of all stock?

 

OK, putting the implausibility of the Germans leaving the Euro aside, if they did (a big "if" I know), ramifications please for GBP and PM's.

 

JL

Germany Leave Euro = Euro Collapse

Euro Collapse = World War

How fitting, that while the delusional, dysfunctional, incompetent, unelected prime minister Gordon Brown resigns, Gold hits new all time highs in multiple currencies including the stinky not so great British pound.

Government bonds are being exposed for what they are... worthless. The bonds are backed up by the ability of the state to tax the workers to pay the coupons. As Greece is proving -- the people have the power - not the state. Of course, like all mafia families, when their rackets are threatened they band together, hence the bailout for the Greek government and banks.

There are going to be two classes of people... those who have some gold coins and those who wish they did.

Looks like the $1200 mark didnt offer much resistance?

 

Anyone want to put their d*ck on the chopping block and predict a top in this rally?

 

For me, I am lookin for $1300, then I will be ligthening up in stages

I will answer this question the way the shills of wall street do when asked. Gold is going higher, however in the short term correct; or, Gold is going lower, however in the short term continue its rally.

Also, how about the media whore and wall street shill Gartman. His new fund is supposed to be market neutral, which means it doesn't go up or down with the market. I have a market neutral fund which does not have any fees or counter party risk. It's called a mattress.

Ignore the paper gold traders. This is what is happening in the real gold world. Please note how they state that real gold has little relation to the fixed paper gold price. The piece was written by the wall street journal so such nonsense is to be expected.

http://online.wsj.com/article/SB125944865039968123.html

Yet prices for certain gold coins often are showing little relation to gold's market value. The U.S. Mint (usmint.gov) currently sells the so-called Ultra-High Relief Double Eagles, a one-ounce gold coin, for $1,539. But some consumers are paying as much as $3,000 to some dealers.

The U.S. Mint announced Wednesday that, because demand has depleted inventory, it will temporarily suspend sales of gold and silver American Eagles through early December.

India plans to buy more gold from IMF

Why would you want to let the world know you intend to buy more gold? This report smells like a reverse Brown's bottom.

Folk are wising up, about time.

http://www.telegraph.co.uk/finance/newsbys...its-vaults.html

The decision comes as the price of gold continues to touch new highs – reaching $1,174 an ounce on Monday – and in spite of the fact that an increasing number of private investors want to buy and store physical gold rather than buying contracts linked to the precious metal's meteoric rise.

I saw this article - and wondered what effect it would have on those who are partly aware of what is happening. My impression is that a good few readers of that article are going to think that if the 'rich' are loading up with bullion then perhaps they should get a few ounces as well!

That will be the final phase of this bull run. We are still a long way off. The anglo casinos are trying to herd all the sheep into equities and ETFs.

Please read and be warned.

http://beforeitsnews.com/story/0000000000000582

Gold Hoard Flees New York City Banks

Contributed by Concerned Citizen on Tuesday, November 24, 2009

More stories from this contributor

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First Post has a good story on one of the unforeseen consequences of people moving their wealth into gold -- the vaults are overflowing.

So many investors have turned to gold during the recession that the HSBC bank on New York’s Fifth Avenue cannot cope with the amount of bullion being kept in its vaults, according to a report in the Wall Street Journal today. As a result, fleets of armoured security trucks have been leaving Manhattan, loaded with gold bars and coins for safe-keeping elsewhere.

According to the article, one customer, Goldstar Trust, which has stored its client's gold with HSBC has been forced by HSBC to move starting last July. The Trust is moving it's gold to one of the Delaware depositories.

Storing gold with banks is problematic for two reasons; we have a perfect example here of what happens when the bank decides not to store the gold anymore, you have to scramble to find a new storage solution which is very difficult because of the security issues of moving something this valuable between states. The Federal government had the same problem when they set up Fort Knox and moved all of the gold they had confiscated from New York to Kentucky -- it was a full on military operation.

The second and most important reason is that if the government decides to confiscate gold again, the first place they are going to go will be the GLD ETF, followed by depositories and bank vaults. The last time this happened, the government "bought" all the gold at $20.68 per ounce and the next day, after they had taken everyone's gold, it was worth $35.

Yeah, but I think you need to look at it from an international perspective. Russia, India, China, Europe etc and then the US economy and currency within that context. A lot of discussion tends to discuss money as if it could be isolated within one nation-state [imo this is the flaw of Bill Still's program of reform].

 

The 19th century did perfectly well on an international gold standard. The duration of this era of globablization is pitiful in comparison and, in hindsight, was most probably just trading on "momentum" once the dollar came off gold for good.

Globalization is an arbitrage on currencies and the collusion of government with big corporations (fascism). The only way I see anything working is if we trade directly in Gold. This could be possible with the internet; something like what Goldmoney has set up. The problem still remains those who maintain the system and those who make the laws those who maintain the system work in.

Where the bankers and economists have stuffed up, government will have to step in. Countries will welcome it if currencies and trade becomes unstable enough..... and economies stagnate. A gold peg would also enable the Yuan to "de-peg" from the dollar with both currencies then re-pegging to the new gold backed currency at the appropriate levels. The Chinese will have their stability, and though taking a haircut on their reserves, would have the greater part of them guaranteed.

The governments have stepped in to help the banksters - as the banksters own the government this is only natural.

I don't know how a gold peg is going to work. It never worked before, not because of gold, but because of those who were supposed to maintain the peg. There is reason the founding fathers stated money had to be coined from gold or silver. It did not say money had to be pegged; in fact, they were specific about money being coined.

Yes, it will if currencies are pegged to gold in the end. I wouldn't worry too much about gold getting in a bubble... or looking for an "exit".

 

That's not to say it couldn't get a bit "frothy" in the short term. If gold shows its characteristic volatility to the downside as well

as the upside, many chasing gold up here could also be soon selling.

There is problem with pegging fiat to gold now. How will the peg work? No one trusts the banksters anymore. The last time Gold was pegged to gold we know what happened - they cheated and got caught.

Ok. Thank you for replying.

 

 

I recall that recently, there was an alleged incident where someone was offered a 25 percent premium not to take delivery (cannot recall the source). This led me to the following train of thought:

 

While it is still possible to buy physical bullion and the price of this bullion is related to the spot price, everything seems ok. I do not know the volume of the sales to the public - perhaps they are too small to matter but at some point must come a widening of the price between physical and spot - which will occur as a result of wholesalers becoming nervous about their ability to restock physical at a similar price (or at all!) in the future. I wonder if this widening of price between paper-gold and gold will trigger a vicious price-spiral which would ultimately lead to a 'bank run' on bullion.

It was JP Morgan and Deutsche Bank who were counterparties on the gold trade were they weren't able to produce the metals to settle a short trade. The Bank of England had to rush to aid of the banksters. Of course the bullion the Bank of England produced was shoddy and not to the standards of the LBMA (what a surprise), so a 25% premium was offered over spot to settle in paper money. You see, they can keep playing the fools gold game as long as you stay in the paper system. As soon you demand settlement in metals the rats go scurrying for cover.

Sooner or later there is going to be a "failed to deliver" and then we shall see who is really swimming with no trunks on.