G0ldfinger Posted March 18, 2008 Author Report Share Posted March 18, 2008 ...Pure sophistry, but effective nonetheless. What counts is how much they print in the end. They will print a lot for Bear Stearns/JPM. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 18, 2008 Author Report Share Posted March 18, 2008 Why waste your time Mr Bernanke? Phantastic stuff they come up with at bullshit castle (=Fed). Commodities levelling out. Yeah. Right. Link to comment Share on other sites More sharing options...
azazel Posted March 18, 2008 Report Share Posted March 18, 2008 If you were going to buy a LOT of gold in one go ...... how would you go about doing it? Say £50k's worth. Coininvestdirect.com is the best way to buy silver from what I have seen. An example: 1 ounce philharmonic or maple= £13.25 from Coininvestdirect.com. From ATS bullion= £18.80 The margins are tighter on gold but I still think they are cheaper all round and delivery is quick. £50,000 will buy you 95 Krugerrands. £50,000 will buy you 3773 silver maples. I would put £30,000 in Bullion Vault, £10,000 into silver coins and £10,000 into various gold coins Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 18, 2008 Report Share Posted March 18, 2008 I think we're going to have a PM market exhibiting sympathy pains with equities for a little while but for those of us holding physical it shouldn't really register on our anxiety radar even though I nearly dumped my silver stack Thank God I lost my bottle . . . Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 18, 2008 Report Share Posted March 18, 2008 Phantastic stuff they come up with at bullshit castle (=Fed). Commodities leveling out. Yeah. Right. If this is what they call levelling out I'd rather climb a wall of worry (deflation scares). I was surprised that Ben and Hank weren't nominated for Best Actor at The Oscars. Their double act as Tweedle Dee and Tweedle Dum make Daniel Day-Lewis seem like a complete amateur... Link to comment Share on other sites More sharing options...
marceau Posted March 18, 2008 Report Share Posted March 18, 2008 Yet more action most politely described as 'counter-intuitive'. It's either inflationary or it's not. Why then, on an inflationary bailout for the DOW, which at the moment the markets are lapping up (currently up over 300 pts), is gold again selling off? Can't use the margin call excuse this time, it's an up day. Wonder what the pundits will pull out of the bag to explain this one? Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 18, 2008 Author Report Share Posted March 18, 2008 I think we're going to have a PM market exhibiting sympathy pains with equities for a little while but for those of us holding physical it shouldn't really register on our anxiety radar even though I nearly dumped my silver stack Thank God I lost my bottle . . . This is an excellent buying opportunity in the make. The perception of the Fed being tough on inflation by only cutting IRs to 2.25% is the most ridiculous thing ever. I only hope my funds get through timely and this dip lasts a little. Worst case is if I have to buy after Easter. Link to comment Share on other sites More sharing options...
bonobo Posted March 18, 2008 Report Share Posted March 18, 2008 gold taking a beating down to 988 on ING, Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 18, 2008 Author Report Share Posted March 18, 2008 Yet more action most politely described as 'counter-intuitive'. It's either inflationary or it's not. Why then, on an inflationary bailout for the DOW, which at the moment the markets are lapping up (currently up over 300 pts), is gold again selling off? Can't use the margin call excuse this time, it's an up day. Wonder what the pundits will pull out of the bag to explain this one? Just an excuse of the commerical shorters and of people who don't understand gold to sell some. Except for the fact that it might be a nice dip for buying that is developing here, it falls under the category 'noise'. Link to comment Share on other sites More sharing options...
marceau Posted March 18, 2008 Report Share Posted March 18, 2008 On the bright side, this is creating a great opportunity for another set of bank shorts. Looking at today's action, JPM and Merrill are looking ripe for a short-powered kick to the balls. I only hope I don't have to use my spare cash to bail myself out of a gold or silver position. Edit: The Merrill share price makes it look like they just announced record profits. What a massive overreaction. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 18, 2008 Author Report Share Posted March 18, 2008 Let's see whether $980 holds. Next stop is then at $960. Link to comment Share on other sites More sharing options...
warpig Posted March 18, 2008 Report Share Posted March 18, 2008 I'm really starting to think when it hits, it's going to be fast and suffocating. This is efffectively a dead cat bounce IMO. Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 18, 2008 Report Share Posted March 18, 2008 Commentators are already saying this leaves room open for more cuts over the next few months. We may not get the gold spike today, but this move may have prolonged the longevity of the upmove before it hits a significant correction. Edit: And in my opinion it also makes a large correction less likely. Who, apart from price managers, is going to sell with the clear prospect of more cuts around the corner? A full 1% would have said 'that's it boys, your getting no more'. .75% says 'we're keeping some dry powder for the future'. Maybe the 1% rate was deliberately staggered... 0.25 on Sunday, and 0.75 today? 1% was expected anyway, just got it spread over a couple of days... maybe they thought nobody would notice Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 18, 2008 Report Share Posted March 18, 2008 Looks like they're attempting to break a few technical support levels in the vain hope of causing a bigger stampede. Go on Cartel, give the tree a good shake to make the weak hands bail out and re-enter at even higher levels... Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 18, 2008 Report Share Posted March 18, 2008 just bought some more silver Beware the ides of March I am sure CGNAO would like this quote Walter Bagehot a 19th century British financial journalist wrote in his book “Lombard Street”, “Every banker KNOWS that if he has to prove that he is worthy of credit, however good may be his argument, in fact his credit is gone”. Bear Stearns’ Chief Alan Schwartz learned this lesson again this past week as did Ken Lay of Enron and Bernie Ebbers of MCI. All men uttered these words right up to the demise of their firms. Think about the words now coming out of mouths of Hank Paulson and Ben Bernanke in the United States, Alistair Darling and Mervyn King of the UK, and Jean Claude Trichet of the European Central Bank. Their credit is increasingly GONE and only the printing presses remain to fill in the rest. So it’s off to the printing press they will go… I am expecting a lightning strike somewhere in the markets before the end of the month and quarter; stocks could easily decline dramatically 10 to 20% down in the NEXT WEEK! The fear is reaching a crescendo! Beware the Ides of March! And turn it into an opportunity!!! Got gold and commodities anyone? Link to comment Share on other sites More sharing options...
ConvertedGoldBug Posted March 18, 2008 Report Share Posted March 18, 2008 Coininvestdirect.com is the best way to buy silver from what I have seen. An example: 1 ounce philharmonic or maple= £13.25 from Coininvestdirect.com. From ATS bullion= £18.80 The margins are tighter on gold but I still think they are cheaper all round and delivery is quick. £50,000 will buy you 95 Krugerrands. £50,000 will buy you 3773 silver maples. I would put £30,000 in Bullion Vault, £10,000 into silver coins and £10,000 into various gold coins 3773 maples... that's a lot of coins to store! And even more to dispose of when the day comes to sell! Here's me still waiting for my first order of coins to arrive... 1 gold maple, and 30 silver philharmonics.... and I'm already thinking I'd rather have just gone for a second gold coin instead of 30 silver coins. Yes, I realise the potential of silver, but for a long-term holding of coins, is it a good idea to have THAT many? I'm going to follow the strategy now of buying physical gold coins, and use my ETF for silver... as long as it's backed by physical, and as long as TS(doesn't)HTF, if there's ever a gold confiscation or it's made illegal to own, then hopefully I'll still be ok in silver instead Link to comment Share on other sites More sharing options...
Justin Thyme Posted March 18, 2008 Report Share Posted March 18, 2008 Some pretty daft action going on right now. Euro falling against the dollar after a 75bps cut $983 gold $19.65 silver. Yeah, I know it's only temporary but I still can't stand the numbers Link to comment Share on other sites More sharing options...
whoops_apocalypse Posted March 18, 2008 Report Share Posted March 18, 2008 Some pretty daft action going on right now. Euro falling against the dollar after a 75bps cut $983 gold $19.65 silver. Yeah, I know it's only temporary but I still can't stand the numbers Welcome to socialism for the rich... Link to comment Share on other sites More sharing options...
marceau Posted March 18, 2008 Report Share Posted March 18, 2008 Some pretty daft action going on right now. Euro falling against the dollar after a 75bps cut $983 gold $19.65 silver. Yeah, I know it's only temporary but I still can't stand the numbers It won't take long to unwind. Just the market playing games to trick suckers out of their money, normal service will soon resume. As I said above, I think this afternoon's action will prolong this leg of the bull run for much longer than it would have had otherwise. It's knocked out the weak hands and leaves the lingering threat of more cuts over the commodity shorts. They've had their fun today. As soon as the dust settles, the shorts will realise how little they've achieved and their fear will return. Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 18, 2008 Report Share Posted March 18, 2008 seems like everyone is getting on board with the boxing analogies from yesterday Another good analyst That is right, the markets are now pricing in a dramatic 100 basis point cut by the FOMC at today's meeting. The official estimate remains at 75 bps, but just about every story I read is predicting a full percent move. This would be the deepest rate cut in a generation. Paul Volcker was in charge of the Fed the last time we got such a big move back in 1984 and that was from a base of 11.75%. This cut would bring the benchmark interest rate down to just 2 percent and doesn't leave much room for further cuts. This is the problem with such a big move, the FOMC is using up all of their ammunition in their fight with the credit markets. They have been aggressively throwing money at the banks and credit markets, but to no avail. Credit is still very tight with everyone afraid to lend to the "next Bear Stearns." I'm afraid at some point the Fed may just have to throw in the towel like Duran in his famous fight with Sugar Ray Leonard, crying "No mas, no mas!!" I read an amusing article which compared the Fed's recent actions to the Whack a Mole game. As each credit crisis has popped up, Ben Bernanke has whacked it back down with a fistful of dollars. But the big concern is that just like in the game, credit problems are now popping up at a quicker pace, and the Fed is quickly running out of cash to whack them back down. Link to comment Share on other sites More sharing options...
enrieb Posted March 18, 2008 Report Share Posted March 18, 2008 Some pretty daft action going on right now. Euro falling against the dollar after a 75bps cut $983 gold $19.65 silver. Yeah, I know it's only temporary but I still can't stand the numbers There always seems to be a lot of market noise after central bank intervention, its like a fat guy who can't swim jumping into a pond to rescue a sinking boat, the water splashes and ripples all over the place disturbing the other boats which were previously not in any difficulty. When the water settles and everything returns to normal the gold boat and the euro boat will be sailing of into the sunset while the dollar boat continues to sink. Link to comment Share on other sites More sharing options...
marceau Posted March 18, 2008 Report Share Posted March 18, 2008 This is amazing. Gold down $50 in two days. And not just any old days either, one saw a .75% rate cut and the other the bear sterns bailout, both massively inflationary events. Hard to believe really. Time to buy some more physical I think. Link to comment Share on other sites More sharing options...
John Doe Posted March 18, 2008 Report Share Posted March 18, 2008 Hi guys, Got a bit lonely over on the market comments thread and heard this was where the action was. Although a confirmed bear, I must admit I was a little worried today when our paperboy told me to sell all my shares and buy gold Ever thought that it might just be possible that its not really the end of the world? Link to comment Share on other sites More sharing options...
marceau Posted March 18, 2008 Report Share Posted March 18, 2008 I'm racking my brains at the moment. I know this is a cartel driven sell-off, but how will the media be able to justify it? I can't think of a single plausible reason they could give. Even the old classic, profit taking, doesn't fit given the inflationary news and the persistance of the sell off. Seems the cartel's hand is a bit too obvious in this one for its own good. Link to comment Share on other sites More sharing options...
tinecu Posted March 18, 2008 Report Share Posted March 18, 2008 Is it me or did someone just turn the Yen carry trade on full monty today? Is that the G7 plan to avoid catastrophy? Oh dear... Short term= recovery long term = inflationary collapse Link to comment Share on other sites More sharing options...
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