Schaublin Posted July 10, 2011 Report Share Posted July 10, 2011 Swiss Parliament to discuss gold franc. http://www.marketwatch.com/story/swiss-parliament-to-discuss-gold-franc-2011-07-07?pagenumber=1 Most amusing quote I have seen for some time. “I can imagine that this will spark some sort of debate about gold and there may be some pressure to accept the parallel currency,” said Dr. Gebhard Kirchgaessner, an economics professor at St. Gallen University. “But it won’t have any real effect on the economy. It seems incredible to imagine that there are people out there willing to buy millions of these things.” (He is talking about gold coins) Link to comment Share on other sites More sharing options...
Manual labourer Posted July 10, 2011 Report Share Posted July 10, 2011 You will be able to show me you can think for yourself when you dont copy out wiki QE and tell me it is your understanding. However i cant see a problem about you wanting to get insurance if you are forcasting inflation providing you can survive massive sells off in Lehman type events. The point i was making was that a huge correction in Gold is quite possible. Part of the reason for that huge correction is that most people are not correctly understanding the nature of QE - including the amateur enthusiasts who are determined to edit Wiki. 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 Link to comment Share on other sites More sharing options...
G0ldfinger Posted July 10, 2011 Author Report Share Posted July 10, 2011 The worst amateurs are those who don't understand the monetary role gold plays in a collapsing fiat system (EUR, USD, GBP). The funny thing is, that it has happened over and over before and it is always the same outcome. Link to comment Share on other sites More sharing options...
romans holiday Posted July 10, 2011 Report Share Posted July 10, 2011 ...... Meanwhile most of us including me had seen this 'money printing' as likely to significantly increase prices and we have acted accordingly. I never have. I've always approached gold as a form of liquidity.... not as primarily investment, or speculation [QE is seen in the context of an on-going global deflation.... merely a "rear-guard action" to avoid a complete rout in markets... and to pump prime speculators].Granted that many are investing/ speculating in gold, I think it is the monetary aspect of gold that is increasingly winning out, where "how it prices" [assets and other currencies] progressively eclipses "how it is priced" by currencies. Before the transition is complete [the monetization of gold], there is a good chance of renewed price volatility on jitters in the wider speculatively driven markets. All we might have is faith and intellectual constructions, where already i am seeing the whole QE thing very differently. Yes, due diligence must be done on one's own intellectual constructs [to treat theory as dogma is to mis-allocate {intellectual} resources]. The model is only as good as far as it's corroborated by real experience. An enlightened scepticism should allow there's always the chance that the model will blow up along with real world developments... which is why you should always hedge. Link to comment Share on other sites More sharing options...
Schaublin Posted July 10, 2011 Report Share Posted July 10, 2011 Attention aliveandkicking; Don't dismiss 'amateur enthusiasts'. There is a long history of amateurs making scientific discoveries and inventions - much to the chagrin of the establishment. Link to comment Share on other sites More sharing options...
fitkid Posted July 10, 2011 Report Share Posted July 10, 2011 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. 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. 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. 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. BREATHTAKING.!!!!!!! Link to comment Share on other sites More sharing options...
fitkid Posted July 10, 2011 Report Share Posted July 10, 2011 You will be able to show me you can think for yourself when you dont copy out wiki QE and tell me it is your understanding. However i cant see a problem about you wanting to get insurance if you are forcasting inflation providing you can survive massive sells off in Lehman type events. The point i was making was that a huge correction in Gold is quite possible. Part of the reason for that huge correction is that most people are not correctly understanding the nature of QE - including the amateur enthusiasts who are determined to edit Wiki. UNBELIEVABE.!!! Link to comment Share on other sites More sharing options...
Schaublin Posted July 10, 2011 Report Share Posted July 10, 2011 I never have. I've always approached gold as a form of liquidity.... not as primarily investment, or speculation [QE is seen in the context of an on-going global deflation.... merely a "rear-guard action" to avoid a complete rout in markets... and pump prime speculators].Granted that many are investing/ speculating in gold, I think it is the monetary aspect of gold that is increasingly winning out, where "how it prices" [assets and other currencies] progressively eclipses "how it is priced" by currencies. Before the transition is complete [the monetization of gold], there is a good chance of renewed price volatility on jitters in the wider speculatively driven markets. Yes, due diligence must be done on one's own intellectual constructs [to treat theory as dogma is to mis-allocate {intellectual} resources]. The model is only as good as far as it's corroborated by real experience. An enlightened scepticism should allow there's always the chance that the model will blow up along with real world developments... which is why you should always hedge. God forbid that we should mis-allocate intellectual resources I would imagine trying to understand what AAK is on about may fall into that category. BTW, how is your gold panning going? Link to comment Share on other sites More sharing options...
romans holiday Posted July 11, 2011 Report Share Posted July 11, 2011 God forbid that we should mis-allocate intellectual resources I would imagine trying to understand what AAK is on about may fall into that category. BTW, how is your gold panning going? lol No panning at the moment.... but getting prepared for my next trip down south for the summer. Now winter. Looking to buy a solar panel for the camper, and a decent detector for the nuggets. Pruning kiwifruit at the moment in order to keep fit and have a bit of pocket money. Last time's effort with pan and sluice-box: Link to comment Share on other sites More sharing options...
Schaublin Posted July 11, 2011 Report Share Posted July 11, 2011 lol No panning at the moment.... but getting prepared for my next trip down south for the summer. Now winter. Looking to buy a solar panel for the camper, and a decent detector for the nuggets. Pruning kiwifruit at the moment in order to keep fit and have a bit of pocket money. Last time's effort with pan and sluice-box: That looks good - 1/2 OZ? It sounds as if you are having a good time. Solar panels are getting reasonably cheap now - be interesting how you get on with actual output vs claimed. Link to comment Share on other sites More sharing options...
romans holiday Posted July 11, 2011 Report Share Posted July 11, 2011 That looks good - 1/2 OZ? It sounds as if you are having a good time. Solar panels are getting reasonably cheap now - be interesting how you get on with actual output vs claimed. Yep, only 1000 bucks worth soon to be 2000 bucks worth. Link to comment Share on other sites More sharing options...
Errol Posted July 11, 2011 Report Share Posted July 11, 2011 New Sterling high for gold this morning! Link to comment Share on other sites More sharing options...
aliveandkicking Posted July 11, 2011 Report Share Posted July 11, 2011 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 I was not offended. Link to comment Share on other sites More sharing options...
LauraB Posted July 11, 2011 Report Share Posted July 11, 2011 [to treat theory as dogma is to mis-allocate {intellectual} resources]. (with apologies for meaning-mangling) Whereas intelligent(oft-times world-weary) resources self-allocate to the wilderness. To avoid excessive use of the hyphen, is my excuse. What was yours RH? - Oh yes, panning for gold. You win! Link to comment Share on other sites More sharing options...
Pixel8r Posted July 11, 2011 Report Share Posted July 11, 2011 New Andrew Maguire interview on KWN, must listen it seems to be moving the market immediately. http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/11_Andrew_Maguire.html Link to comment Share on other sites More sharing options...
marceau Posted July 11, 2011 Report Share Posted July 11, 2011 We'll almost certainly retest the dollar highs in the next couple of days, then it gets interesting. Link to comment Share on other sites More sharing options...
LauraB Posted July 11, 2011 Report Share Posted July 11, 2011 I'm going early: The mighty Euro 1099.88 Link to comment Share on other sites More sharing options...
electroweak Posted July 11, 2011 Report Share Posted July 11, 2011 I'm going early: The mighty Euro 1099.88 you've gone and jinxed it now! Link to comment Share on other sites More sharing options...
LauraB Posted July 11, 2011 Report Share Posted July 11, 2011 Oh - No - I - Haven't! I went early in order to avoid that event chris, & with success Luckily in my sunny (non-volcanic) mountain retreat I cannot detect the distant smell of fear, but I'm sure it exists Link to comment Share on other sites More sharing options...
tinecu Posted July 11, 2011 Report Share Posted July 11, 2011 We'll almost certainly retest the dollar highs in the next couple of days, then it gets interesting. I expect the main rises to be in terms of GBP and EUR until the Autumn Link to comment Share on other sites More sharing options...
Bosworth Posted July 11, 2011 Report Share Posted July 11, 2011 Gold and silver moving against the Market. Each time that happens things normally start to get interesting. EUR/$ getting absolutely rogered as well... Link to comment Share on other sites More sharing options...
harvipark Posted July 11, 2011 Report Share Posted July 11, 2011 Gold in Sterling £976 Pandas are now £996, Brittanias are £986 in CID Whats betting we see £1000 gold by weekend? Link to comment Share on other sites More sharing options...
Schaublin Posted July 11, 2011 Report Share Posted July 11, 2011 Gold in Sterling £976 Pandas are now £996, Brittanias are £986 in CID Whats betting we see £1000 gold by weekend? That is their buy back price. Cannot buy an ounce under a thousand now - Krugerrands are £1020 Link to comment Share on other sites More sharing options...
harvipark Posted July 11, 2011 Report Share Posted July 11, 2011 That is their buy back price. Cannot buy an ounce under a thousand now - Krugerrands are £1020 Yes very true. I dont tend to look at the buy price as I am over invested and dont plan to make any more purchases for now Link to comment Share on other sites More sharing options...
Manual labourer Posted July 11, 2011 Report Share Posted July 11, 2011 Gold in Sterling £976 Pandas are now £996, Brittanias are £986 in CID Whats betting we see £1000 gold by weekend? That would be very nice to see! Yes very true. I dont tend to look at the buy price as I am over invested and dont plan to make any more purchases for now 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 Link to comment Share on other sites More sharing options...
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