Manual labourer

I sure if I visited Paris, that there are loads of 17th 18th century beautiful buildings around the place! So the other Scottish genius John Law hyperinflated France but the buildings survived and people moved on and later prospered! I don't buy into this Mad MAX SYSTEM COLLAPSE BS, other than a huge multi continent natural disaster or a world wide Nuclear war! Here in the UK and the rest of the western world we are heading into a short lived nasty period of deflation/high unemployment where the Dollar/Gold will be king, followed by an even worse period of printed hyper inflation when Gold will be the sole king! Regards ML

Leveraged Landlords (on fixed rate interrest period loans)most are on 5yr terms why else do you think the CB banks are holding back the crash, most sheeple on 2/3/5 year fixed rates are coming off higher fixed rates onto lower variable rates,the property owners who have the sense to refix now on 5/10year rates will do very very well!! As debts are hyperinflated away from the end of 2012, most b2let people will have remortgaged since 2007! That will be the time the CB raise rates and fry people Hyperinflation will set in debts will be devalued we all start again!! re copper etc being pinched that has always happened! In the news today a hospital has had to close because some 2hat HAS STOLEN THE COPPER FEED WIRES TO THE BACK UP GENNY!!!!!!!!! Regards ML

Yep or you buy the LOCAL farm with it! Did everybody who was wise enough to hold gold in Weimar era get robbed? Regards ML

"I simply cannot see a fall to 11 dollars, the physical dealers would surely be cleaned out within days" I looked at this senario and came away with a slightly different view! Comex and dealers get "cleaned" out on price rallies !! Which is exactly what has happened, now reverse this comex and dealers will be loaded up on large "very large fast moves to the downside" ie the exchange back from the weak shorter time frame hands or leveraged speculators ? WEAK HANDS only want to hold a rising value priced item in a short term view, now we are 30% down from highs when a large amount was bought from comex dealers etc who were speculating on $100 silver by this year end!!!. If we go back to $22.5-25 area a 50% retracement from the top,then a large amount of buyers of the recent high may throw the towel in, at which point $11-16.00 would be do able due to the high volatility of silver! Gold would be back around $1250 and oil $70-80 as the world starts to deflate, prior to real printing and then true hyper inflation! Regards ML

http://articles.businessinsider.com/2011-10-31/markets/30341162_1_gold-holdings-john-paulson-twitterer I posted a few weeks ago Gold COULD GET BACK DOWN TO 12OO area, think of it as a buying chance. If everybody was buying gold I would be worried they are not. See link above. Take the chance to buy more at lower prices! The Sales wont last for ever. Regards ML

Chinese could soon cut interest rates to even further below inflation rate! I wonder where the people will put the 40% of their income that they save then? Regards ML http://uk.finance.yahoo.com/news/China-slowdown-spreading-HSBC-reuters_molt-526156376.html;_ylt=Aphf9JCud5mJ2xgIxJw6oXDSr7FG;_ylu=X3oDMTE4ZHUxOGs0BHBvcwM0BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNjaGluYXNsb3dkb3c-?x=0 "Rates are already below inflation levels, so a cut could encourage savers to pull money out of the banking system in search of higher returns elsewhere and so crimp bank lending."

I think his nickname should be Wan! Regards ML * I forecast sometime ago on here 1150/1220 area was a slight possibilty off the monthly chart as a strong buying area, however due to the dangerous times we live in I wouldn't sell any allocated physical and gamble on the fall,if we do revisit that area then it would be a back the truck up with remaining available funds, strap yourself in and ride the market to 2450 area!

Thanks GF, for the clear honest answer with background reasoning! I think I need to start buying a little more silver as it dips ! I totally agree with your later posts of how these prices will look like a steal over the longer term. Regards ML

Thanks for posting the very good article GF. The author gives great detail as to why and where he sees gold going and very little on Silver. You in the past have been very open in your view that silver has more upside potential and your holdings were heavy into silver (Silver finger) How have things progressed are you still more pecentage based invested in silver raher than gold, do you still see more upside to silver than gold? Or as he shh**t is starting to hit the fan do you see gold outperfoming everything? Do central banks hold silver reserves? Regards ML

People are hoping the train is going to back up to the station they were left behind at? Regards ML Maybe Paulson is making noises intended on moving the market to get a better price to get back in ? If you look at a long term chart there has to be a pull back at some point?

Maybe Paulson read the above! :lol: Or maybe not

Hi WP, cheers for the Sunday read. Regards ML

Hi Pix, Bubb, If someone could move my post from ysterday and your replies to another topic I would be more than happy to reply, as it is I don't tink we should carry on this debate re taxation /trading time on a GOLD thread which is as good a gold thread as you will get on the tinternet! Regards ML

Hi Pix, there is way to much control and taxation in there for me. It should be left as it is the idea of taxing people like DB because they can survive and prosper in a cut throat world at the sharpest edge of self employment is totally wrong! I agree with the earlier post that hedge funds survive prosper and or fail on their performance so good luck to them.What gauls me is our goverments backing the debts of large banks with tax payer money in a futile atempt to prevent the inevitable,I don't get that bit? Re Trading v investing debate, successfull short term traders are a rarity and should be valued,DB Imvho hasn't grasped the fact that he is such a rarity a by encouraging people to speculate via T/A he is taking people down a very dangerous route, on the basis a little knwoledge can be a very dangerous thing, and that by trading in and out at the wrong times some people on here could actually lose money in this potentially once in a life time metal bull run. From what I have read and understood Gold is the place to be over the coming years a a haven of safety? Without doubt he is right in th fact that he has the ability to trade in and out at the right moments and therefore out perform buy and hold, however he is the exception to the rule! Buy and hold as advocated by a few stars on here via fundamentals who back up their reasoning with historic ratios etc. are a much safer option to follow over the long term, for the great majority on here, and we should be very thankfull you and they do. However having said that it is very good to have the medium of sites like this where we can consider the merits and dangers of both, and DB takes the time to post some of his short term trades I guess we are all adults so can choose which route to take. Regards ML

Hi Doc, I still think we will see 1150-1220 area first before $10.000 area or $2200 area. Could you explain why you think it is time to back up the truck,on what reasoning do you make that call? Regards ML.

Monthly chart on gold could indicate $1220 buy area before fresh upmove? I personally wouldn't sell any physical held to trade down to this price as world markets are to volatile not to be holding gold. However should you have any powder left to buy and price hits 1220 buy around April next year then I would get in? Regards ML.

I think we are still on target!!! Regards ML.

Cheers Fk, for the pointer, to be fair my very modest amount of Gold is in an allocated account, due to that’s where I think it is safest. However I did buy a couple of sovs to hold in hand from Bairds sometime back ,. I guess that’s why we come on here to learn from each other, and is probably why Baird are one of the few left with any stock!! By the way I am with you re the paper and its worth! Regards ML

There is definitely a real business opportunity to set up in competition against the uk dealers,Bairds for example, they were operating the same buy to sell spread percentage wise when gold was a third to half its current value i.e. 8% on gold at £400.oo an oz profit a few years ago v profit at 8% when gold is £1050.00 an ounce same deal but with over twice as much profit for the dealer! I wonder how long it will be before physical price is at premium to spot/futures/options/paper gold? That’s the real question when people realize fiat paper cash is worth very little as is a paper IOU GOLD? Regards ML

That would be very nice to see! That must be a cool place to be in ! I have been holding back waiting for £27.50 in Silver and $1350 in gold to make my last purchase with available free capital! The saying "picking up pennies in front of steam rollers" , keeps coming to mind Regards ML

Hi ALK, Please refer to the first line of my reply “Please don’t be offended by the way I have scripted the reply!” That was in direct reference to the Wiki quote! I put that in because of you previous history of being a fragile little soul! How I see it exactly, is that you frequently post in riddles. You regularly post when you have no strength in your points that you are trying to make. Then when your views are questioned or challenged by anybody on here, you don’t debate with people and exchange ideas in a friendly grown up manor, no you take things down to a personal level and become nasty and twisted! I am happy to continue to discuss these points with you as long as you grow up and take the personal slurs and slanders out of the debate, however if you wish to continue to act like a weak child then I suggest you Pm me and we continue the personal side in private. Now returning to the one valid point in your last post re correction of price:- “The point i was making was that a huge correction in Gold is quite possible” There is nothing new about that see my post from weeks ago! Posted 11 June 2011 - 05:09 PM Post #26728 “However the powers that be are frightened by what is panning out, there isn't enough gold for everyone so gold will rocket, but not until 1650 is taken out then probably a strong pullback to 1000 dollar area, hard to believe but the same could of been said about silver on its way to 50 THEN BACK DOWN TO low thirty's.” ML I have never made any claim to be anything other than an amateur Joe public on here, who has a willingness to learn from of the brighter minds on here.(The clue is in the miss spelt name!) You have again gone off at a tangent to your original post because you couldn’t explain or substantiate anything as usual! Your reply shows- What a sad nasty weak little man you are! Regards ML

Hi ALK, Please don’t be offended by the way I have scripted the reply! "You need to grasp that if a very highly liquid easy to sell asset is removed from the economy it is deflationary. The fact you are talking about infinite amounts of QE3 fiat money says fairly loudly you do not understand the implications of removing financial assets from the economy and issuing another financial asset in its place. " Ok QE, My understanding :- Quantitative easing (QE) is an unconventional monetary policy tool used by some central banks to stimulate the national economy when conventional monetary policy has become ineffective. A central bank implements quantitative easing by purchasing financial assets from banks and other private sector businesses with new money that it creates electronically. This action increases the excess reserves of the banks, and also raises the prices of the financial assets bought, which lowers their yield. In Japan the Bank of Japan targeted the quantity of reserves held by the banks, while in the United States the Federal Reserve has emphasized that their quantitative easing policy is targeting a credit easing in the business and household sector, so that the increase in reserves is a by-product rather than an objective of monetary policy. Quantitative easing can be used to help ensure inflation does not fall below target. Printy PRINTY ? Creates inflation? Best hedge for Inflation?PM? "Generally speaking most holders of gold are going to assume the world does not end and continues in some form that is not massively different to the way things have been in the last few hundred years. If steel is at rock bottom prices and Gold is still at todays prices people are going to feel gold is over valued. " G/F and many more on here have stated they are not Gold BUGS. They hold gold and various other PM,s to protect themselves from printy printy inflation geared in by Central Banks, and as you say when the time is right and the Gold IS OVER VALUED they will exchange it for something else which in their opinion is undervalued agreed? "I would assume deflation in the past was happening at a time of a gold standard. In deflation you have to pay down your debts or you are busted to hell by falling income. Under a gold standard and deflation, gold is the asset most sought after to pay down your debts. If the government was printing the claim notes for gold there would not be deflation so these claim notes and gold are rising in price relative to steel because both are equally sought after. Today in deflation people would be seeking fiat money or government bonds which are more or less the same thing." Why would people want Printy Printy Fiat cash for other than everyday needs or paper IOU'S from potentially bankrupt governments? "To totally avoid deflation the government will have to buy steel to prevent the price falling or forget about debt levels and just spend spend spend. Currently it is not working out that way. But it might eventually.Anyway come the next lehmans, the banking system, which is levered to hell, will need to sell something to survive." How much physical gold did Lehman’s hold when they went under? Come the next Lehman’s or bigger nobody repeat nobody will want to sell their physical gold until the dust from sequential crashes settles agreed? Why exactly is now not a good time to accrue a holding of PM'S as a form of insurance against more and more QE, and the possible high inflation or hyper inflation leading to the collapse of the fiat paper system? Regards ML

Sorry about that, The spot prices I was looking at had a previous high of of GBP 963.50, with the high on Friday of GBP 964.74. MA and TA, are something I am doing further research into at the Moment, so cheers for the tip! Regards ML

Hi ALK, Could you explain in layman’s terms why anybody would swop the finite amount of gold for infinite amounts of printed QE 3 fiat money? Why would people on mass sell their physical insurance Gold? Re deflation Rees-Mogg in a piece in the times the other week stated Gold historically does very well in deflationary periods, so if QE3/4/5 failed to inflate, and remarkably deflation set in after numerous QE events what would you secure your investments in rather than Gold? Regards ML

Was that a new GBP high in gold today? Is that not worth a rocket ? Regards ML