romans holiday Posted April 5, 2009 Report Share Posted April 5, 2009 i listened to the 3rd hour - part 2 of the big picture earlier today and it clarified some details of the great depression for me, interestingly iirc, jim said that many commodities went up in price between 1933-37. Yes, FDRs dollar devaluation against gold helped with the debt deflation in the great depression. With currencies free floating it will be very interesting to see what happens this time round. Some might be able to depreciate, others to their chagrin might do the reverse and appreciate. I guess there always remains the last resort of a formal devaluation but could you imagine the economic state and politics of that country. Reminds me of this 80s song: http://www.youtube.com/watch?v=o8L9WSJi4hc...feature=related Link to comment Share on other sites More sharing options...
Dispassion Posted April 5, 2009 Report Share Posted April 5, 2009 interesting article, in which John Dizard argues that gold is going below $800 over the next few months: http://www.ft.com/cms/s/0/b8d36560-21b1-11...144feabdc0.html Link to comment Share on other sites More sharing options...
silverharp Posted April 5, 2009 Report Share Posted April 5, 2009 i listened to the 3rd hour - part 2 of the big picture earlier today and it clarified some details of the great depression for me, interestingly iirc, jim said that many commodities went up in price between 1933-37. where and why does he think we are now? wouldnt it more like 1930 now? Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted April 5, 2009 Report Share Posted April 5, 2009 where and why does he think we are now? wouldnt it more like 1930 now? I don't think he was specifically comparing today with 1933, just looking at early indicators - check it out 33:25 mins in. and as JP points out, in the Great Depression the US of was on the Gold Standard and couldn't get away with what they are doing today. Also, as RH points out when FDR came in, the $ was devalued so a rise in commodities was of little surprise, but they tanked in 1938 following massive rise in taxes Link to comment Share on other sites More sharing options...
warpig Posted April 5, 2009 Report Share Posted April 5, 2009 Thanks I will look in to it for next year. If you have bookies account. Link to comment Share on other sites More sharing options...
huntergatherer Posted April 5, 2009 Report Share Posted April 5, 2009 Thanks I will look in to it for next year. 'Offshore Account' - The PM will no doubt be trying to look there as well. Link to comment Share on other sites More sharing options...
creditcrunch Posted April 5, 2009 Report Share Posted April 5, 2009 More gold ramping. http://www.independent.co.uk/news/world/eu...it-1662955.html Link to comment Share on other sites More sharing options...
anciom Posted April 6, 2009 Report Share Posted April 6, 2009 Count me in on that, probably along with everyone else with more than half a brain. I can't imagine the level of disillusionment that will be around when he is exposed as no more the solution to the USA's problems than his predecessor was. There's just no integrity there. Still, his downfall will do two positive things - peel more liberals and floating voters away from the socialist left (which will become increasingly militant and 'Soviet' in tone once existing socialist policies fail) and greatly add to society's gradual (and painful) reintroduction to reality. well/ what else did anyone expect him to do ? he cant produce the debt from his arse, so words will have to do. unless the entire globe prints up the jam it will only at best produce a small few months of delay, possibly a year, maybe 2 and with it a bear run on gold whacking the price down. then the real issue will return as it hasnt or wont go away. we have (UK) borrowed more to rescue the system than in WW2 and it will need to be repaid. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted April 6, 2009 Report Share Posted April 6, 2009 Quite brilliant. Am I the only one who is already fed up with hearing Obama ? It's just spin and rubbish. I just don't listen. another view he's scary Link to comment Share on other sites More sharing options...
romans holiday Posted April 6, 2009 Report Share Posted April 6, 2009 At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda [860]. Very tempted to wait for even lower prices. Link to comment Share on other sites More sharing options...
G0ldfinger Posted April 6, 2009 Author Report Share Posted April 6, 2009 ... At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda. Very tempted to wait for even lower prices. Yes, I would wait for Prechter's $200/oz. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted April 6, 2009 Report Share Posted April 6, 2009 At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda. Very tempted to wait for even lower prices. im waiting for the 19/20 april and then buying Link to comment Share on other sites More sharing options...
romans holiday Posted April 6, 2009 Report Share Posted April 6, 2009 Yes, I would wait for Prechter's $200/oz. Yes, will keep a little in reserve for that one. Link to comment Share on other sites More sharing options...
romans holiday Posted April 6, 2009 Report Share Posted April 6, 2009 im waiting for the 19/20 april and then buying My birthday is on 24. Might be auspicious to wait 'til then. Link to comment Share on other sites More sharing options...
marceau Posted April 6, 2009 Report Share Posted April 6, 2009 At what levels are people thinking of buying at? pog is now at 876, not far off the 200mda. Very tempted to wait for even lower prices. I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point. Sentiment is not good - and at the moment sentiment is everything. Link to comment Share on other sites More sharing options...
warpig Posted April 6, 2009 Report Share Posted April 6, 2009 How are they going to put people off gold when they make it so cheap? Yet again they are giving people another opportunity to get in late, bloody decent of them if you ask me. Link to comment Share on other sites More sharing options...
darreng1000 Posted April 6, 2009 Report Share Posted April 6, 2009 Gold outperformed cash ISAs, property and shares over last 10 years http://www.citywire.co.uk/personal/-/news/...8&ea=190101 Link to comment Share on other sites More sharing options...
romans holiday Posted April 6, 2009 Report Share Posted April 6, 2009 I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point. Sentiment is not good - and at the moment sentiment is everything. Yes, imo whether or not you buy here or wait depends I guess on what percentage of your worth you already have in bullion. With a core bullion position of 50%, I am in no hurry to buy. I agree that at some stage, perhaps here, we may see a large fishing line. The market correction is looking solid..........for now. Link to comment Share on other sites More sharing options...
marceau Posted April 6, 2009 Report Share Posted April 6, 2009 Gold outperformed cash ISAs, property and shares over last 10 years http://www.citywire.co.uk/personal/-/news/...8&ea=190101 And STILL 99% of people won't even consider it as an investment. All thanks to the power of the MSM - impoverishing readers and viewers since time began. Link to comment Share on other sites More sharing options...
marceau Posted April 6, 2009 Report Share Posted April 6, 2009 Yes, imo whether or not you buy here or wait depends I guess on what percentage of your worth you already have in bullion. With a core bullion position of 50%, I am in no hurry to buy. Ditto. I'm more than happy to wait for the big one. Chasing markets now will lead to even more heartache than usual. Link to comment Share on other sites More sharing options...
GatheringStorm Posted April 6, 2009 Report Share Posted April 6, 2009 Gold outperformed cash ISAs, property and shares over last 10 years http://www.citywire.co.uk/personal/-/news/...8&ea=190101 You'd get flamed for posting that over on HPC. I can never work out why some people seem to loathe gold so much. That's why I'm convinced this bull market has barely started. They'll start to get it when we're thinking of selling. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted April 6, 2009 Report Share Posted April 6, 2009 Sentiment is not good - and at the moment sentiment is everything. No Sentiment is good, and at the moment sentiment is the only thing there is! But it might be about to turn. You can only stay high for so long, then you just have to come back down to earth (of course I'm talking about the markets) Link to comment Share on other sites More sharing options...
bitbigt Posted April 6, 2009 Report Share Posted April 6, 2009 I think we've already hit the tradeable bounce at $874 (just above the 200dma). I missed the trade and won't enter now, if we break through $870 gold could be in a lot of trouble and I don't see much support below. I also can't help but feel we're going to see one of those monster 'fishing lines' at some point. Sentiment is not good - and at the moment sentiment is everything. Fully agree! This fall could be in the process of accelerating, and if so it would need to get down to below USD 700 (GBP 450) before I'd be prepared to step back in big time. But I'm perhaps an exception, in that my risk tolerance is very low as the money is needed for a house purchase in next year or so. Link to comment Share on other sites More sharing options...
marceau Posted April 6, 2009 Report Share Posted April 6, 2009 No Sentiment is good, and at the moment sentiment is the only thing there is! But it might be about to turn. You can only stay high for so long, then you just have to come back down to earth (of course I'm talking about the markets) You're absolutely right, but of course the market can 'run on air' for an incredibly long period of time. Like a dumb dog they'll chase the stick every time the government throws it. Gold has dropped quite dramatically in Turdling, looking at bullion I'm actually quite tempted by some of the prices on offer. I'll just have to shake it out of my system by staring at my stash for a while - it's soooo shiny. Link to comment Share on other sites More sharing options...
romans holiday Posted April 6, 2009 Report Share Posted April 6, 2009 I mull over decisions while tossing a 100g bar in the air... makes a very pleasing ringing sound if you flick it just right. Careful though, pleasure can turn quickly to pain if you drop it on your toe. Link to comment Share on other sites More sharing options...
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