gwizzie Posted September 17, 2008 Report Share Posted September 17, 2008 having another go @838.5 Dang...... Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 ONLY thing up in the markets is gold..... and gold stocks! Sign of things to come folks. Edit: Dow down... nearly 400 points!! could break 10,000 soon. Link to comment Share on other sites More sharing options...
bitbigt Posted September 17, 2008 Report Share Posted September 17, 2008 ...Indeed, one week ago I predicted an imminent large fall in stocks and a run up in gold, and I suspect this stock market collapse may now accelerate this week as real pannick sets in. I have to say it.... I TOLD YOU SO Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 Goldman Sachs.... the darling of Wall Street ....down $130 to $100. Link to comment Share on other sites More sharing options...
ArtfulDodger Posted September 17, 2008 Report Share Posted September 17, 2008 ONLY thing up in the markets is gold..... and gold stocks! Sign of things to come folks. Edit: Dow down... nearly 400 points!! could break 10,000 soon. Blackrock Gold & General certainly has some catching up to do! Link to comment Share on other sites More sharing options...
bitbigt Posted September 17, 2008 Report Share Posted September 17, 2008 8% rise in 3 hours We all know what the fuel is, but what was the trigger? I think something will be revealed as the catalyst... - embassy bombing in Yemen? - DOW turning negative after an initial rise today, despite AIG rescue? - big buyer (China?) having decide not to support US any more? Now the world is waking up to the economic reality and the recent inflationary new money creation, that realisation will only get stronger ....and gold will soar Then oil will bottom, and inflation will refuse to come down - and I daren't imagine how hight gold and gold stocks could go Link to comment Share on other sites More sharing options...
Pluto Posted September 17, 2008 Report Share Posted September 17, 2008 This is it folks. Assume the crash position - and remember - when we hit women and children go first. Link to comment Share on other sites More sharing options...
warpig Posted September 17, 2008 Report Share Posted September 17, 2008 More please.... Link to comment Share on other sites More sharing options...
horse Posted September 17, 2008 Report Share Posted September 17, 2008 As an avid reader of the gold thread on HPC and now on here, I'm writing my first post in a state of panic. Just checked my leveraged silver ETC expecting to find a huge increase and found all trading has been suspended. It transpires these are by not backed by physical, but by the ropey, teetering on the verse of bankrupty AIG! Anyone else got ETC's? Commodity Securities and AIG - Update 17/09/08 ETF Securities Limited (“ETFS”) would like to update investors and all market participants regarding the Exchange Traded Commodities (ETCs) issued by ETFS Commodity Securities Limited and which are backed by matching contracts from AIG Financial Products Corp. and guaranteed by American International Group, Inc (collectively “AIG”). AIG confirmed that last night there was an announcement by the Federal Reserve Board, that the Federal Reserve Bank of New York is providing a two-year, $85 billion secured revolving credit facility to AIG that will ensure the company can meet its liquidity needs. AIG has continued to honour all of its obligations under our agreements with them, including processing all creations and redemptions in the usual manner and paying all redemptions due on time. ETFS is in discussion with its market makers and the Exchanges (London Stock Exchange, Deutsche Borse, Borsa Italiana and Euronext) to ensure that trading can resume and/or continue in an orderly fashion as soon as possible. It is our understanding that the London Stock Exchange (“LSE”) has suspended electronic execution for Wednesday 17th September but off-book trading will continue. ETFS Commodity Securities will continue trading on all other Exchanges. ETFS continues to be in close dialogue with AIG, the Exchanges and its market makers and Authorised Participants with the hope of returning to an orderly and liquid market on every Exchange as soon as possible. Trading and operations of all other products administered by ETF Securities remain unaffected. All of the securities are structured as stand-alone credits, so that if there is a credit issue with any ETC or issuer there is no recourse to the assets of any other ETC or issuer. For example, if there are credit issues with Commodity Securities then none of the other Issuers, or ETCs issued by them, are affected. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 8% rise in 3 hours We all know what the fuel is, but what was the trigger? I think something will revealed as the catalyst... - embassy bombing in Yemen? - DOW turning negative after an initial rise today, despite AIG rescue? - big buyer (China?) having decide not to support US any more? Now the world is waking up to the economic reality and the recent inflationary new money creation, that realisation will only get stronger ....and gold will soar Then oil will bottom, and inflation will refuse to come down - and I daren't imagine how hight gold and gold stocks could go Implosion of all the investment banks on Wall Street is the cause in my opinion. Goldman Sachs and Morgan Stanley are now in crisis mode. Real banks will probably swallow them up in the next few days. Real banks will have their turn when the currency crisis hits. Link to comment Share on other sites More sharing options...
bitbigt Posted September 17, 2008 Report Share Posted September 17, 2008 Implosion of all the investment banks on Wall Street is the cause in my opinion. Goldman Sachs and Morgan Stanley are now in crisis mode. Real banks will probably swallow them up in the next few days. Real banks will have their turn when the currency crisis hits. Yes - I just saw the prices for those on the TV news. That explanation would make sense Link to comment Share on other sites More sharing options...
narco Posted September 17, 2008 Report Share Posted September 17, 2008 Just goes to show what is the real global currency in a time of crisis. It isn't oil and it isn't platinum either. Amazing to see gold rise $60 dollars and USDX barely even move. Breaking $850 today would be incredible. I wonder if all this slosh money being pumped into the markets over the last few days has led to this? Link to comment Share on other sites More sharing options...
chazza Posted September 17, 2008 Report Share Posted September 17, 2008 I dont post much on this gold thread, but as one well known specialist in the investment world once sent to me - Holy bat fook! Im sure my junior and major funds are up by at least 8% to.... Link to comment Share on other sites More sharing options...
G0ldfinger Posted September 17, 2008 Author Report Share Posted September 17, 2008 ... - big buyer (China?) having decide not to support US any more? ... Let's reserve that one for the +$100 days. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 Just goes to show what is the real global currency in a time of crisis. It isn't oil and it isn't platinum either. Amazing to see gold rise $60 dollars and USDX barely even move. Breaking $850 today would be incredible. I wonder if all this slosh money being pumped into the markets over the last few days has led to this? The inverse relation of gold to dollar has gone also! I believe gold has come into its own as money tonight. It always was with us, but now the market is finally recognising it. Link to comment Share on other sites More sharing options...
Compounded Posted September 17, 2008 Report Share Posted September 17, 2008 My pension was moved to Goldmoney in April, it is now worth 31% more now than it would had I not moved it. This is entirely due to finding GF on HPC for he is the man that got me interested. Link to comment Share on other sites More sharing options...
rgleeson Posted September 17, 2008 Report Share Posted September 17, 2008 beware hubris Anything can happen after london closes, gold price does not rise in NY 90% of the time Link to comment Share on other sites More sharing options...
HPCSucks Posted September 17, 2008 Report Share Posted September 17, 2008 Implosion of all the investment banks on Wall Street is the cause in my opinion. Goldman Sachs and Morgan Stanley are now in crisis mode. Real banks will probably swallow them up in the next few days. Real banks will have their turn when the currency crisis hits. No one can swallow GS. They are the US government. Link to comment Share on other sites More sharing options...
romans holiday Posted September 17, 2008 Report Share Posted September 17, 2008 No one can swallow GS. They are the US government. US Government is going to be swallowed by this black hole also. Americans will no longer be able to afford it. Link to comment Share on other sites More sharing options...
Pluto Posted September 17, 2008 Report Share Posted September 17, 2008 As an avid reader of the gold thread on HPC and now on here, I'm writing my first post in a state of panic. Just checked my leveraged silver ETC expecting to find a huge increase and found all trading has been suspended. It transpires these are by not backed by physical, but by the ropey, teetering on the verse of bankrupty AIG! Anyone else got ETC's? Bullion in ones possession has no counterparty risk - all else is fools' gold. Those who ignore this warning and are dazzled by products from the usurers will one day weep at their losses. Link to comment Share on other sites More sharing options...
HPCSucks Posted September 17, 2008 Report Share Posted September 17, 2008 FTSE100 down 23.33% this year. The unmentionable metal up 12.06%. Link to comment Share on other sites More sharing options...
gwizzie Posted September 17, 2008 Report Share Posted September 17, 2008 Bullion in ones possession has no counterparty risk - all else is fools' gold. Those who ignore this warning and are dazzled by products from the useres will one day weep at their losses. jesus theres 2 of them now Link to comment Share on other sites More sharing options...
sossij Posted September 17, 2008 Report Share Posted September 17, 2008 This is it folks. Assume the crash position - and remember - when we hit women and children go first. Pluto! Good to see you! Link to comment Share on other sites More sharing options...
rgleeson Posted September 17, 2008 Report Share Posted September 17, 2008 As an avid reader of the gold thread on HPC and now on here, I'm writing my first post in a state of panic. Just checked my leveraged silver ETC expecting to find a huge increase and found all trading has been suspended. It transpires these are by not backed by physical, but by the ropey, teetering on the verse of bankrupty AIG! Anyone else got ETC's? Sorry for your loss. That's another feather in cgnao's cap though and another example of how I haven't understood the extent of the derivatives meltdom. Who would have thought this investment would turn bad when it should be turning good? Link to comment Share on other sites More sharing options...
bitbigt Posted September 17, 2008 Report Share Posted September 17, 2008 I have to say it.... I TOLD YOU SO The full original post (#207, 4th September): "I'll also stick my neck out with a prediction for this month... - next few days DOW and FTSE start to fall precipitously, such that they reach 10000 and 4500 by month end {almost there, and still 2 weeks to go, and may fall even lower} - emergency base rate cuts happen or are signalled (BoE missed its chance today) {give it a few days} - commercial bank baleouts extended / increased {yep!!} - Sterling will fall further, reaching 1.65 vs USD, with the fall only minimised by the fact the USDX will peak out and start to slide {still on the cards} - oil does not fall below 90 (and possibly not even or much below 100), and the fact that its refusing to go lower will become a palpable concern to economists/media {true so far} - inflation stats rise significantly {thats for the following months/years} - all the above will cause a ramp up in fear, and gold will start to rally (6-8% up in USD, 10-15% in GBP, by months end) {...at least!} [EDIT: and my bones even sense a black swan approaching ...Russia? major bank collapse? terrorist attack? high-profile Western assasination?] {spot on}" ...SO THAT CRYSTAL BALL WAS WORTH THE MONEY I PAID FOR IT Link to comment Share on other sites More sharing options...
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