romans holiday Posted November 5, 2008 Report Share Posted November 5, 2008 Isn't gold 'the' safe haven because of its price (present and future)? Isn't its relative stability in value (which would be shown, for example, by its strengthening exchange rate against other weakening currencies, i.e. its increasing 'price') precisely why the price isn't meaningless? I imagine assertions like 'ignore the price; it's meaningless' are why non-goldbugs think that goldbugs might be a tad less objective about gold that they should be... It almost sounds like you're saying 'the price is unimportant -- just look how lovely and shiny it is!' Hi OJ- Yep, i would agree that we can not afford to be too dismissive of prices even if we have a philosophy of money which suggests those prices could quickly become meaningless. The reality is that things are worth what people think they are. Accordingly, it is best to balance contemporary realities with future possibilities Link to comment Share on other sites More sharing options...
Steve Netwriter Posted November 5, 2008 Report Share Posted November 5, 2008 Remember my Grandfather would say "Good as gold" all the time. No doubt he was keen to set me on the right path... bless his heart. Wonder how long it will be before this "fuddy duddy" expression becomes commonplace again. It's still used down here What's funny is that I'd normally associate it with "he's as good as gold", when referring to a child's behaviour. It's fascinating ow these expressions move around and morph. Have I mentioned "the ear that we breath" ? Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 5, 2008 Report Share Posted November 5, 2008 are Krugerrands at £480 for a 1oz coin, at yesterdays spot price, a good buy ? I think so, but can't work out why my local jeweller would be happy with this amount. I am presuming because he thinks gold is at the top right now and he probably bought a few years ago. I asked him straight about the pog & the impression he gave was that he feels it will crash. Lot's of 1970's references. Link to comment Share on other sites More sharing options...
FWIW Posted November 5, 2008 Report Share Posted November 5, 2008 are Krugerrands at £480 for a 1oz coin, at yesterdays spot price, a good buy ? I think so, but can't work out why my local jeweller would be happy with this amount. I am presuming because he thinks gold is at the top right now and he probably bought a few years ago. I asked him straight about the pog & the impression he gave was that he feels it will crash. Lot's of 1970's references. I would say yes..a good buy..CID selleing them at £565.11 at the moment. I heard kruggers were hard to come by... Regarding the POG, do you really want to bet against CGNAO? Meeting on Nov 15th should be a chance for all players to see the governments hand... Link to comment Share on other sites More sharing options...
id5 Posted November 5, 2008 Report Share Posted November 5, 2008 are Krugerrands at £480 for a 1oz coin, at yesterdays spot price, a good buy ? I think so, but can't work out why my local jeweller would be happy with this amount. I am presuming because he thinks gold is at the top right now and he probably bought a few years ago. I asked him straight about the pog & the impression he gave was that he feels it will crash. Lot's of 1970's references. Average spot price for yesterday from LBMA fixings is £463.60, 3.5% margin. If you think that gold is going up then it is a very good deal. If you think that gold is going down then you most probably will not have been asking him. P.S. What is your jewellers address? Link to comment Share on other sites More sharing options...
wrongmove Posted November 5, 2008 Report Share Posted November 5, 2008 Regarding the POG, do you really want to bet against CGNAO? With all respect to cg, market timing doesn't seem to be his strong point. I am still "watching silver", which was supposed to 'explode' from the $18ish it was when that thread was started. It has virtually halved since then, in dollar terms. It looks like it's ready to explode upwards Link to comment Share on other sites More sharing options...
rich6400 Posted November 5, 2008 Report Share Posted November 5, 2008 With all respect to cg, market timing doesn't seem to be his strong point. I am still "watching silver", which was supposed to 'explode' from the $18ish it was when that thread was started. It has virtually halved since then, in dollar terms. I bought in to silver at this point partly because of Cgnao's call. This is another confusing matter! I paid 26$ for 1oz mapples - which was a bit pricey - which was spot at 18$ plus sellers margin plus VAT. Strangely when spot hit 10$ I telephoned the seller to get a quote on 1oz mapples. I was told that the price was 28$ inclusive. To paraphrase; is this the sign of the comex default beast? Link to comment Share on other sites More sharing options...
kernull Posted November 5, 2008 Report Share Posted November 5, 2008 Only a sucKer would trade gold using Technical Analysis. lol, this is the most stupid thing I read, but if you have anything further to say, private msg, don't flood the forum please Link to comment Share on other sites More sharing options...
FWIW Posted November 5, 2008 Report Share Posted November 5, 2008 With all respect to cg, market timing doesn't seem to be his strong point. I am still "watching silver", which was supposed to 'explode' from the $18ish it was when that thread was started. It has virtually halved since then, in dollar terms. Well I was invited late to the party.... Now I am here, I think the party has just started...could be wrong, but so what? I feel better now that I have a stash of cash, some silver, some gold, some food, less debt, and hopefully some new friends, etc. I like to think that in some way I was responsible for the silent run on all the banks that happened a few weeks ago...am i to blame? No way,I just spent my hard earned money to help the wider economy... Link to comment Share on other sites More sharing options...
romans holiday Posted November 5, 2008 Report Share Posted November 5, 2008 Well I was invited late to the party.... Now I am here, I think the party has just started...could be wrong, but so what? I feel better now that I have a stash of cash, some silver, some gold, some food, less debt, and hopefully some new friends, etc. I like to think that in some way I was responsible for the silent run on all the banks that happened a few weeks ago...am i to blame? No way,I just spent my hard earned money to help the wider economy... Link to comment Share on other sites More sharing options...
warpig Posted November 5, 2008 Report Share Posted November 5, 2008 I hope you're not talking about us. hopefully some new friends, etc. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 5, 2008 Report Share Posted November 5, 2008 I would say yes..a good buy..CID selleing them at £565.11 at the moment. I heard kruggers were hard to come by... Regarding the POG, do you really want to bet against CGNAO? Meeting on Nov 15th should be a chance for all players to see the governments hand... I definetly believe gold is a great investment (medium/long term) it was more about why he can & is willing to sell them fairly cheap. I didn't realise he sold them tbh, but I suppose it's a trust thing, I mean how do you verify they are what they should be. You always tend to trust large companies over the corner shop for purchases of this nature ? edited to add - I looked on wiki for info on them, as I noticed that they had 'fine' gold rather than pure gold & didn't have the .9999 stamp on them, I can see why now: krugerrands Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 5, 2008 Report Share Posted November 5, 2008 Average spot price for yesterday from LBMA fixings is £463.60, 3.5% margin. If you think that gold is going up then it is a very good deal. If you think that gold is going down then you most probably will not have been asking him. P.S. What is your jewellers address? I'd rather not say as he asked me to keep the fact that he dealt in coins & bars quiet tbh, his exact reference was connected to gypsy's & them finding out, although I suppose owning a jewellers will always have that sort of thing connected with it, as it goes with the turf. He has been collecting & dealing in gold for a long time, so he told me. he also showed me some of the smaller bars. He also deals in silver. Link to comment Share on other sites More sharing options...
simonc Posted November 5, 2008 Report Share Posted November 5, 2008 It's nice to be back. M 'Bout bloody time too........................lurking just hasn't been the same! Link to comment Share on other sites More sharing options...
POTATOES Posted November 5, 2008 Report Share Posted November 5, 2008 Just been quoted £535 for a krugerrand at ATS ( they have about 20) Current NY spot is £469. Thats a $100 dollar premium for physical at Bullion dealers, not just on Ebay. Link to comment Share on other sites More sharing options...
kernull Posted November 5, 2008 Report Share Posted November 5, 2008 Link to comment Share on other sites More sharing options...
warpig Posted November 5, 2008 Report Share Posted November 5, 2008 December Surprise... Firstly, he notes that assets are being sold to meet margin calls and redemptions, and secondly, that European banks are buying dollars to fund redemptions from clients with dollar-based accounts. However, Mr. Lundin added that this "short squeeze" on the dollar will only last for a very limited period of time and when it begins to reverse, gold prices could soar. http://goldnews.bullionvault.com/Goldbug/g...rprise_18860523 Link to comment Share on other sites More sharing options...
warpig Posted November 5, 2008 Report Share Posted November 5, 2008 Ker are you suggesting it will hit $680 and then soar to god knows what? Link to comment Share on other sites More sharing options...
kernull Posted November 5, 2008 Report Share Posted November 5, 2008 Ker are you suggesting it will hit $680 and then soar to god knows what? well, i don't know, but current price level isn't holding Link to comment Share on other sites More sharing options...
warpig Posted November 5, 2008 Report Share Posted November 5, 2008 I was hoping you were hinting at something, never mind I guess we'll just have to wait for the corrective B wave. well, i don't know, but current price level isn't holding Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 5, 2008 Author Report Share Posted November 5, 2008 With all respect to cg, market timing doesn't seem to be his strong point. I am still "watching silver", which was supposed to 'explode' from the $18ish it was when that thread was started. It has virtually halved since then, in dollar terms. It looked as if it was going to explode. Then something weird happend, and the physical retail market totally disconnected from the CRIMEX. Similar with gold. If I was a bullion bank and millions/billions short gold, what would I do? I would create a massive paper sell-off, and then I would send some of the crooks who work for me into forums and let them pretend to have superior TA knowledge so that all the insecure suckers would follow them... It's all about expectation management. The crooks want to destroy proper expectations. Like, another bank goes bust, and gold sells off etc. People always need others to follow. It's so easy. The fundamentals will rule. Maybe sooner, maybe later. The important thing is to be patient. EDIT: Should this post be in the conspiracy thread? I don't want people to think I'm a nutter. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted November 5, 2008 Report Share Posted November 5, 2008 EDIT: Should this post be in the conspiracy thread? I don't want people to think I'm a nutter. too late now GF, I have been in the nutter club for well over a year & you were there before me. Link to comment Share on other sites More sharing options...
wrongmove Posted November 5, 2008 Report Share Posted November 5, 2008 It looked as if it was going to explode. Then something weird happend, and the physical retail market totally disconnected from the CRIMEX. Similar with gold. If I was a bullion bank and millions/billions short gold, what would I do? I would create a massive paper sell-off, and then I would send some of the crooks who work for me into forums and let them pretend to have superior TA knowledge so that all the insecure suckers would follow them... It's all about expectation management. The crooks want to destroy proper expectations. Like, another bank goes bust, and gold sells off etc. People always need others to follow. It's so easy. The fundamentals will rule. Maybe sooner, maybe later. The important thing is to be patient. EDIT: Should this post be in the conspiracy thread? I don't want people to think I'm a nutter. You are getting just an itsy bit paranoid, GF. Nothing weird happened. Many commentators called it correctly. I think your "all in plus the overdraft" approach may be slightly distorting your perceptions of reality. "I called it wrong", (for now at least), may be a much simpler explanation that fits all the facts? As for panicing "insecure suckers", the gold bug rhetoric of "buy now, all in now, or it will be too late, and you will be ruined, muhahahaha" is pretty blatant in that respect. Link to comment Share on other sites More sharing options...
G0ldfinger Posted November 5, 2008 Author Report Share Posted November 5, 2008 You are getting just an itsy bit paranoid, GF. Nothing weird happened. Many commentators called it correctly. I think your "all in plus the overdraft" approach may be slightly distorting your perceptions of reality. "I called it wrong", (for now at least), may be a much simpler explanation that fits all the facts? As for panicing "insecure suckers", the gold bug rhetoric of "buy now, all in now, or it will be too late, and you will be ruined, muhahahaha" is pretty blatant in that respect. Muahahahahaha. Link to comment Share on other sites More sharing options...
Gatesy Posted November 5, 2008 Report Share Posted November 5, 2008 too late now GF, I have been in the nutter club for well over a year & you were there before me. I love that, the nutter club; my name is on the list and I am coming in. Link to comment Share on other sites More sharing options...
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