dopamine Posted September 18, 2008 Report Share Posted September 18, 2008 fiat is the biggest risk of all Have you ever switched from USD to GBP on bullion vault chart and the graph thinks that the price in USD is GBP making the chart look eyepoppingly tasty? I just looked at gold in GBP and it was on £840 an ounce! Now that would be volatile!! Thanks. You're wrong of course - my wife is the biggest risk of all if I lose any more of the STR fiat on PMs (down currently by a few K on a 10% investment) She is not reasonable and has no financial understanding. Link to comment Share on other sites More sharing options...
narco Posted September 18, 2008 Report Share Posted September 18, 2008 err bump people - pog down, this news in, and if i'm not mistaken isn't this just an incy-wincy bit inflationary Gold crashes down on how this fixes the system then back up over $850 since people realise what this means.. lol Stick with physical and avoid trading this market. Link to comment Share on other sites More sharing options...
Dispassion Posted September 18, 2008 Report Share Posted September 18, 2008 http://www.ft.com/cms/bfba2c48-5588-11dc-b...00779fd2ac.html John Authers on gold. Just the obvious stuff, though I'd go on to suggest that there is good evidence that the gold price may have finally decoupled from the dollar/euro price. Link to comment Share on other sites More sharing options...
azazel Posted September 18, 2008 Report Share Posted September 18, 2008 Thanks. You're wrong of course - my wife is the biggest risk of all if I lose any more of the STR fiat on PMs (down currently by a few K on a 10% investment) She is not reasonable and has no financial understanding. My wife's easy going about our 100% investment of STR fund. Perhaps we need a new thread for wives of STR husband that have spunked the fund on PMs! Depending on the price of gold, they could discuss torture methods or tasty cooking. :lol: Link to comment Share on other sites More sharing options...
drbubb Posted September 18, 2008 Report Share Posted September 18, 2008 Howzat? Get your money's worth? SPX-1132 here we come? SPX-1,206.51 Change: +50.12 Open: 1,157.08 High: 1,211.14 Low: 1,133.50 Percent Change: +4.33% Actually, the fact that we got a new high in VIX suggests that these lows will be retested or beat later. This could be weeks or months later, even next year. But the beast (or recession) may not be faced with a single visit over Vix-40 Link to comment Share on other sites More sharing options...
Dispassion Posted September 18, 2008 Report Share Posted September 18, 2008 Thanks. You're wrong of course - my wife is the biggest risk of all if I lose any more of the STR fiat on PMs (down currently by a few K on a 10% investment) She is not reasonable and has no financial understanding. My wife's easy going about our 100% investment of STR fund. Perhaps we need a new thread for wives of STR husband that have spunked the fund on PMs! Depending on the price of gold, they could discuss torture methods or tasty cooking. :lol: Perhaps you could make it PC and substitute the word "wife" for "partner". I remember reading a study into the investment strategies of men versus those of women, it found that men took more risks and had more confidence in their own judgement than women and compared the performance of their portfolios. Women's portfolios significantly outperformed those of men, so perhaps the "wife" knows best. Link to comment Share on other sites More sharing options...
drbubb Posted September 18, 2008 Report Share Posted September 18, 2008 My wife's easy going about our 100% investment of STR fund. STR Fund? What's that: S : Surviving T : The R : Recession ??? Not owning your home (with a huge mortgage) is part of the winning formula Link to comment Share on other sites More sharing options...
kernull Posted September 18, 2008 Report Share Posted September 18, 2008 more bashing tomorrow. i have no target for the low, but 780 is still bullish. imho, this week marks the trend reversal week. in bullish trends, we should have rallies monday & tuesday, following the selloffs on tursday and friday, this week is still in bearish-mode, so if next monday-tuesday we don't selloff, the correction is over, and its time for long term positions with target of around 5,000 Link to comment Share on other sites More sharing options...
THEBIGMAN Posted September 18, 2008 Report Share Posted September 18, 2008 LOL dopamine! I share your pain... Link to comment Share on other sites More sharing options...
TW11 Posted September 18, 2008 Report Share Posted September 18, 2008 Just seen from Karl Denninger, he is always a very passionate commentator, but this one is quite sobering. I would say it's gold positive. Link to comment Share on other sites More sharing options...
Mr Pipples Posted September 18, 2008 Report Share Posted September 18, 2008 Just seen from Karl Denninger, he is always a very passionate commentator, but this one is quite sobering. I would say it's gold positive. Note, just before 7 mins in he refers to RTC being talked about... Happening now. Link to comment Share on other sites More sharing options...
warpig Posted September 18, 2008 Report Share Posted September 18, 2008 I haven't decided how much, but I will have (fingers crossed!) 6 figures to play with. All of my savings are currently in the shinny stuff and I feel safe, even the volatility doesn't worry me it was expected, albeit sobering! I use Kitco Kcast and I just had to look twice at the movement. Silver lost a dollar in a few minutes, it seems. You're a brave man indeed if you're putting your STR fund in PMs (I know, cue people telling me that fiat is the biggest risk of all). Link to comment Share on other sites More sharing options...
warpig Posted September 18, 2008 Report Share Posted September 18, 2008 Bloody Java, that website has freaked me out on more than one occasion! I'll post a screenshot next time it happens. fiat is the biggest risk of all Have you ever switched from USD to GBP on bullion vault chart and the graph thinks that the price in USD is GBP making the chart look eyepoppingly tasty? I just looked at gold in GBP and it was on £840 an ounce! Now that would be volatile!! Link to comment Share on other sites More sharing options...
azazel Posted September 18, 2008 Report Share Posted September 18, 2008 My wife's easy going about our 100% investment of STR fund. Perhaps we need a new thread for wives of STR husband that have spunked the fund on PMs! Depending on the price of gold, they could discuss torture methods or tasty cooking. :lol: Perhaps you could make it PC and substitute the word "wife" for "partner". I remember reading a study into the investment strategies of men versus those of women, it found that men took more risks and had more confidence in their own judgement than women and compared the performance of their portfolios. Women's portfolios significantly outperformed those of men, so perhaps the "wife" knows best. Perhaps not. Was this study before the current collapse? Link to comment Share on other sites More sharing options...
electroweak Posted September 18, 2008 Report Share Posted September 18, 2008 CID: wow... Name: Gold Content: Buy Price: Netto Price: Brutto Price: 1000 gramm bullion 1000.00 Gramm £14,966.95 £15,446.74 £15,446.74 ~480 per kilo commission....rising..... Link to comment Share on other sites More sharing options...
drbubb Posted September 19, 2008 Report Share Posted September 19, 2008 (I posted this on GEI): First, FEARS THAT NOTHING COULD BE DONE ... but everyone was not asleep at the wheel - letting the worst fears unfold. (or should I say un-Fuld) First, A "trial balloon" was floated by Volcker and Brady... Do you really think they have been "doing nothing"? If I could see the emerging crisis so clearly bank in June (Fighting the Fear) and even years ago (2002), do you think that the ENTIRE US financial establishment has been doing nothing? You will begin to see some leadership, now that the realities are becoming unavoidable. Give the picture a little time... Volcker is one of the good guys in this, he and maybe those others have a role to play, if the pols let them Then, as Gold was soaring to $920 and into the stratosphere... The Bazooka-man struck, with his Bigger Bazooka: The report that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s left previously solemn investors ebullient. Wall Street hoped a huge federal intervention could help financial institutions jettison bad mortgage debt and stop the drain on capital that has already taken down companies including Bear Stearns Cos. and Lehman Brothers Holdings Inc. Worries about financial landmines on companies' books have essentially crippled parts of the world's financial markets in recent days and led to the intense volatility in the markets this week. "It's going to take a lot of the bad debt off the balance sheets of these companies," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, commenting on the possibilities of an entity akin to the RTC. It could alleviate many of the pressures causing the credit crisis, he said, and reopen moribund credit markets. But Fullman noted, "the devil's in the details." ==== Will this be the ultimate bailout? or will it be another fails. If it fails, what then?? We are interested in your opinions (here and elsewhere) Link to comment Share on other sites More sharing options...
romans holiday Posted September 19, 2008 Report Share Posted September 19, 2008 This is big news. http://kr.youtube.com/watch?v=_-2TNXqEP-Y Link to comment Share on other sites More sharing options...
Compounded Posted September 19, 2008 Report Share Posted September 19, 2008 Not owning your home (with a huge mortgage) is part of the winning formula I am amazed a how many people I come accross that would disagree and still believe the property is the best investment over the long term myth. IMO it's highly leveraged investment in a taxable immovable liability. more bashing tomorrow. i have no target for the low, but 780 is still bullish. Agree, just take a look at the last gold bull and imagine yourself as a gold holder in some of those dips, the 20 month gradual halving of price in the mid 70's must have been horrible. Leverage would have been impossible then IMO it should be this time, Junior Miners are a kind of leverage too and are for play money or the expert like Bubb IMO. We also have active manipulation unlike the last bull which increases the risk/reward profile, this is not going to be an easy bull to ride. Link to comment Share on other sites More sharing options...
romans holiday Posted September 19, 2008 Report Share Posted September 19, 2008 (I posted this on GEI): First, FEARS THAT NOTHING COULD BE DONE ... but everyone was not asleep at the wheel - letting the worst fears unfold. (or should I say un-Fuld) First, A "trial balloon" was floated by Volcker and Brady... Then, as Gold was soaring to $920 and into the stratosphere... The Bazooka-man struck, with his Bigger Bazooka: The report that Treasury Secretary Henry Paulson is considering the formation of a vehicle like the Resolution Trust Corp. that was set up during the savings and loan crisis of the late 1980s and early 1990s left previously solemn investors ebullient. Wall Street hoped a huge federal intervention could help financial institutions jettison bad mortgage debt and stop the drain on capital that has already taken down companies including Bear Stearns Cos. and Lehman Brothers Holdings Inc. Worries about financial landmines on companies' books have essentially crippled parts of the world's financial markets in recent days and led to the intense volatility in the markets this week. "It's going to take a lot of the bad debt off the balance sheets of these companies," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York, commenting on the possibilities of an entity akin to the RTC. It could alleviate many of the pressures causing the credit crisis, he said, and reopen moribund credit markets. But Fullman noted, "the devil's in the details." ==== Will this be the ultimate bailout? or will it be another fails. If it fails, what then?? We are interested in your opinions (here and elsewhere) Double post. This could be it. As the authors well recognize, these are radical and hugely risky measures. They see a deflationary implosion ahead if something is not done quickly. The focus in this crisis is now squarely on the credit crisis and the zombified banks. And they see this crisis as primarily one of liquidity. I like the honesty of this article as they openly state the risk to the tax-payer. Surely, to support the entire housing market they will have to print like crazy. In doing so they will solve the liquidity crisis, but it will be the mother of all pyrrhic victories. They will succeed in unfreezing money but watch it turn into a flood. Watch all the money pour out of treasuries and into..... everything and anything as the currency inflates and people panic. At the moment, the function of money as an medium of exchange is compromised [liquidity crisis]. After this, it will be even worse as the functions of money as a store of value and a measure of value will be drowned [hyper-inflation]. Edit: Thanks for posting this DrB... and, as you said, look whose name is on it! Wow, this really could be it. Link to comment Share on other sites More sharing options...
romans holiday Posted September 19, 2008 Report Share Posted September 19, 2008 "the devil's in the details." should read "the hyperinflationary devil is in the details". Link to comment Share on other sites More sharing options...
romans holiday Posted September 19, 2008 Report Share Posted September 19, 2008 I knew that the SEC was enforcing a ban on naked short selling but just saw ... SEC WILL BAN ALL SHORT SELLING! [have I got this wrong??] Also, looks like the democratic led Congress will roll over on RTC. Link to comment Share on other sites More sharing options...
romans holiday Posted September 19, 2008 Report Share Posted September 19, 2008 Agree, just take a look at the last gold bull and imagine yourself as a gold holder in some of those dips, the 20 month gradual halving of price in the mid 70's must have been horrible. Leverage would have been impossible then IMO it should be this time, Junior Miners are a kind of leverage too and are for play money or the expert like Bubb IMO. We also have active manipulation unlike the last bull which increases the risk/reward profile, this is not going to be an easy bull to ride. Events may be coming to a head much quicker than this. I imagine FTC will be the tipping point. Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 19, 2008 Report Share Posted September 19, 2008 Thanks to those who pointed me at this Karl Denninger - ummmmmmm - yikes ! The Beginning Of The End http://market-ticker.denninger.net/archive...Of-The-End.html No, what you saw Monday and Wednesday was not a panic - that was the fat lady clearing her throat. Watch the credit markets. They're where the real "tell" is. I suspect you're going to see a few day bounce here - the selloff yesterday was totally unexpected by me, as I expected the AIG bailout would get thunderous applause and what it got instead was recognition that the house of cards had the Big Bad Wolf breathe on it. That was a first during this credit crunch - the "short bus" (equity) traders figured it out fast that this wasn't "good news" at all. But as the credit noose continues to tighten the upward fuel will wane, and we are very likely to see a "no bid" situation develop in some issues. It if develops in the overnight lending markets or worse, in the Treasury market generally, the game is over. Don't think it can't. It can, and if the response to market conditions is to allow the lying to ratchet up instead of to force firms to face the truth it is simply a matter of time before it does. The Potential End Of America's Government "They crossed it today" :blink: I have never heard Karl sound so.........gloomy. Edited to add: This is the page that goes with the video: http://market-ticker.denninger.net/archive...Government.html Lots of bold and underlining ! Link to comment Share on other sites More sharing options...
Steve Netwriter Posted September 19, 2008 Report Share Posted September 19, 2008 :blink: Citing Grave Financial Threats, Officials Ready Massive Rescue Lawmakers Work With Fed, Treasury To Try to Restore The Flow of Money http://www.washingtonpost.com/wp-dyn/conte...ml?hpid=topnews By Binyamin Appelbaum and Lori Montgomery Washington Post Staff Writers Friday, September 19, 2008; Page A01 The Bush administration is urgently preparing a massive intervention to revive the U.S. financial system, including a plan to sweep away the unpaid loans that are choking banks and blocking the flow of money to borrowers. Congressional leaders gave bipartisan support to the administration's efforts after a meeting last night with Treasury Secretary Henry M. Paulson Jr. and Federal Reserve Chairman Ben S. Bernanke. Paulson and Bernanke presented a "chilling" picture of the state of the financial system, according to a participant in the meeting who spoke on condition of anonymity. Lawmakers were told that the consequences would be grave if they failed to pass legislation by the end of next week. Sen. Harry Reid (D-Nev.) and Rep. Nancy Pelosi (D-Calif.) committed to meeting that deadline. The plan involves using hundreds of billions of dollars in government funding to buy bad loans, leaving banks with more money and fewer problems, according to two sources familiar with what was said at the meeting. Link to comment Share on other sites More sharing options...
Perishabull Posted September 19, 2008 Report Share Posted September 19, 2008 Ok everyone I would like to get a broad consensus of opinion on what the price of gold will be by year end. Optimists AND pessimists please. I don't think $1000 will be re-tested this year and think $960 by year end. I think we will be looking at a moderate rally in US equities until year end however I expect the dollar index is going to be 72 by year end. What do you think? Perishabull Link to comment Share on other sites More sharing options...
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