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markinspain

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Posts posted by markinspain

  6. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    Dont kid yourself. Most of the Hedgies are in this for a quick buck, not the long term.

     

    The "long term story", is how they distribute their positions to retail.

    I would guess that 50% or more of the futures holders are short-term oriented.

    Remember last year !!

     

    Why would I kid myself? I couldn't give a monkey's chuff what the hedgies do. I ain't selling mine! It's great having something with no counterparty risk. You keep playing with your fiat and electronic digits.

  7. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    WOW what happened? Down £22/t oz and $46/t oz in a heart beat... I don't think I've ever seen such a dramatic drop before.

     

    I think it's what's known as a 'shake out' ie pressurising the weak holders. Unfortnately, although this tactic works with

    shares and paper gold, it doesn't work well with physical holders. I can't see many people running down to their dealers

    today to sell their physical holdings.

     

  8. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

    I'm not sure if this has been posted here, but I have just seen it on HPC: http://www.realclearmarkets.com/video/2009.../8000_gold.html

     

    $8,000 an ounce anyone? :)

     

    I like the 1-1 reference. Reminds me of a song by New (World) Order. :lol:

     

    Protect yourself

    Its one to one

    Protect yourself

    Its one to one

    Protect yourself

    You can't be wrong

    When somethings good

    Its never gone

     

    Gold's got the world in motion

    And I know what we can do

    Gold's got the world in motion

    And I can't believe its true

     

    Edit wrt Cgnao

     

  11. GOLD

    in Gold, FX, Stocks / Diaries & Blogs

    Posted

     

    Did you read the rest of your article? :o

     

    'According to Kirby, an analyst who has broken significant news stories in the past, Chinese officials investigated and believe the counterfeit gold bars are the work of a well-financed criminal organization. Many arrests have been made.

     

    Upon further investigation (and remember that this is all “alleged” as no Chinese official is willing to confirm this on the record) the Chinese learned that about 15 years ago a refinery in the United States manufactured between 1.3 and 1.5 million 400-ounce tungsten blanks. Tungsten has an almost identical specific gravity as gold, so a 400-ounce tungsten bar would be the same size as a 400-ounce gold bar. Subsequently, 640,000 of these bars were gold plated and shipped to Fort Knox where they are still located. Kirby claims that he knows people who possess copies of the shipping documents of these deliveries showing the dates of delivery and the exact weights of each of these bars.

     

    The remaining bars were later gold-plated, then apparently sold into the international market. Where they are today is not known, but there are strong suspicions that significant quantities of them are already in bonded warehouses of the London Bullion Market Association (LBMA) and elsewhere as supposedly good delivery gold bars. The alleged counterfeit bars received by the Chinese apparently came directly from the Hong Kong vaults of the LBMA.

     

    To the extent that there are any quantities of these counterfeit bars on the market to fulfill paper gold contracts, there is a significant risk that owners of “paper gold” could be in for major losses in the near future'

     

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