GOLD

[romans holiday]

Don't you mean that BV have access to your dollars to invest as they wish and pay you zero interest

Who cares about interest rates these days.

 

Also, they don't charge you for sitting on dollars. lol

[nicejim]

PS. I'm sure this won't affect you, but the "wizard" on their website which is designed to help noobs trade on their exchange is nothing short of a scam. I believe users have a reasonable expectation that this programme will get them the best price available, but it absolutely does not. If you use it, you are trading directly with BV (they don't tell you this) and they basically rape you. I complained to them about it, and was ignored. Another reason not to use them.

I've sometimes got better than the best price available and when I've traded directly with BV there is a "p" on the contract to show this. I remember that they stated in their T&C that they sometimes take the other side of the trade. I've sometimes been charged less than I've offered but never more. I don't know how the word "rape" can be used to describe this.

[Schaublin]

I've sometimes got better than the best price available and when I've traded directly with BV there is a "p" on the contract to show this. I remember that they stated in their T&C that they sometimes take the other side of the trade. I've sometimes been charged less than I've offered but never more. I don't know how the word "rape" can be used to describe this.

 

 

The quote is in italics - it is not me saying this - I am quoting from the link.

[jinbal]

The Fed FOMC are meeting tomorrow and could make an announcement about future Quantitative easing, that could push gold up over $1300, at least according to this article.

 

Gold New Record Near $1,300/oz Level as Irish Bond Sale and QE2 in Focus

 

http://www.goldcore.com/goldcore_blog/gold...e-and-qe2-focus

 

 

I'd not be surprised to see a smackdown today to coincide with the FOMC announcement.

 

Especially as POG is at resistance and has MACD divergence - it would be quite easy to paint a chart here.

[nicejim]

The quote is in italics - it is not me saying this - I am quoting from the link.

I know, but it's not a good idea to write or repeat things which are not true, especially considering BV have had to come here in the past to put things straight.

[Schaublin]

I know, but it's not a good idea to write or repeat things which are not true, especially considering BV have had to come here in the past to put things straight.

 

How do you know it is not true? As I understand it, the BV trading bots offer less than another user would offer. I do not recall a representative of BV ever coming here to talk about their trading bots - only to reassure people that their gold would still be safe even after having taken on the Rothschilds as partners!

[fitkid]

I'd not be surprised to see a smackdown today to coincide with the FOMC announcement.

 

Especially as POG is at resistance and has MACD divergence - it would be quite easy to paint a chart here.

 

Your wish is the CONmex command.

[fitkid]

How do you know it is not true? As I understand it, the BV trading bots offer less than another user would offer. I do not recall a representative of BV ever coming here to talk about their trading bots - only to reassure people that their gold would still be safe even after having taken on the Rothschilds as partners!

Be totally REASSURED and take PHYSICAL DELIVERY OF YOUR OWN METAL.

DO YOU THINK THE ROTHSCHILDS WOULD CONSIDER ASKING YOU TO HOLD THEIR PHYSICAL FOR THEM.

[fitkid]

Who cares about interest rates these days.

 

Also, they don't charge you for sitting on dollars. lol

Fiat paper bulls.

Anyone sitting in FIAT waiting to move into a TANGABLE asset.

[romans holiday]

So once again you are saying that the gold is of no use to Portugal at this current time.

 

No-one can really answer as to what the gold is doing for them right now.

But consider that money has various functions.

 

It can be used in the present as a means of exchange, and a measure of value.

 

It is also used for the future as a store of monetary value.

 

Actually, I think this latter function of money is the most definitive one; the institution of money evolved to off-set the uncertainty we have towards the future [imo without this latter balancing function, money eventually ceases to function properly as the former].*

 

Considering the above, this is why Portugal will just sit on their gold [being the most powerful symbol of money], and why it makes sense for them to do so. Governments and CBs around the world are following suite... they've stopped selling and starting to acquire further holdings of gold. This fact can be interpreted various ways. Personally, I consider gold being remonetized here, and countries increasing their holding in order to recapitalize themselves... perhaps involving the international re-booting of the currency system in the not too distant future.

 

 

*This idea of balance/ equilibrium is an interesting one. Balance is not only required in the functions of money, but also required in international trade. Gold was the means by which this balance was achieved in the past. It acted like a ballast to the system.... now that the collateral of over-valued assets in developed countries have collapsed, the system needs to be re-ballasted/ re-balanced. imo this will be done by going back on gold.

 

http://en.wikipedia.org/wiki/Price_specie_flow_mechanism

The price-specie-flow mechanism is a logical argument by David Hume against the Mercantilist (1700-1776) idea that a nation should strive for a positive balance of trade, or net exports. The argument considers the effects of international transactions in a gold standard, a system in which gold is the official means of international payments and each nation’s currency is in the form of gold itself or of paper currency fully convertible into gold.

 

Hume argued that when a country with a gold standard had a positive balance of trade, gold would flow into the country in the amount that the value of exports exceeds the value of imports. Conversely, when such a country had a negative balance of trade, gold would flow out of the country in the amount that the value of imports exceeds the value of exports. Consequently, in the absence of any offsetting actions by the central bank on the quantity of money in circulation (called sterilization), the money supply would rise in a country with a positive balance of trade and fall in a country with a negative balance of trade. Using a theory called the quantity theory of money, Hume argued that in countries where the quantity of money increases, inflation would set in and the prices of goods and services would tend to rise while in countries where the money supply decreases, deflation would occur as the prices of goods and services fell.

 

The higher prices would, in the countries with a positive balance of trade, cause exports to decrease and imports to increase, which will alter the balance of trade downwards towards a neutral balance. Inversely, in countries with a negative balance of trade, the lower prices would cause exports to increase and imports to decrease, which will heighten the balance of trade towards a neutral balance. These adjustments in the balance of trade will continue until the balance of trade equals zero in all countries involved in the exchange.

 

The price-specie-flow mechanism can also be applied to a state's entire balance of payments, which accounts not only for the value of net exports and similar transactions (the current account), but also the financial account, which accounts for flows of financial assets across countries, and the capital account, which accounts for non-market and other special international transactions. But under a gold standard, transactions in the financial account would be conducted in gold or currency convertible into gold, which would also affect the quantity of money in circulation in each country

[fitkid]

Hi RH,

 

Errr......we are in a hyperinflation, right at the early stages imo......remember that brilliant chart & data from FOFOA that Steve Netwriter posted a few weeks ago, well the US & UK one will look very similar, the problem is that (as with most data), it comes out after the event has happened. Far too late for the majority. I like to be a minority case, contrarian as per usual.

 

We have seen MASSIVE credit expansion according to my understanding of mises and Austrian economics i would say as stated many times before that we are now in the stages of what Mises termed "THE HYPERINFLATIONARY CRACK UP BOOM."

 

Economist Ludwig von Mises warned us in 1912:

 

The [business] boom produces impoverishment. But still more disastrous are its moral ravages. It makes people despondent and dispirited. The more optimistic they were under the illusory prosperity of the boom, the greater is their despair and their feeling of frustration. The individual is always ready to ascribe his good luck to his own efficiency and to take it as a well-deserved reward for his talent, application, and probity. But reverses of fortune he always charges to other people, and most of all to the absurdity of social and political institutions. He does not blame the authorities for having fostered the boom. He reviles them for the inevitable collapse. In the opinion of the public, more inflation and more credit expansion are the only remedy against the evils which inflation and credit expansion have brought about.

 

But then finally the masses wake up. They become suddenly aware of the fact that inflation is a deliberate policy and will go on endlessly. A breakdown occurs. The crack-up boom appears. Everybody is anxious to swap his money against "real" goods, no matter whether he needs them or not, no matter how much money he has to pay for them. Within a very short time, within a few weeks or even days, the things which were used as money are no longer used as media of exchange. They become scrap paper. Nobody wants to give away anything against them.

 

If once public opinion is convinced that the increase in the quantity of money will continue and never come to an end, and that consequently the prices of all commodities and services will not cease to rise, everybody becomes eager to buy as much as possible and to restrict his cash holding to a minimum size. For under these circumstances the regular costs incurred by holding cash are increased by the losses caused by the progressive fall in purchasing power. The advantages of holding cash must be paid for by sacrifices which are deemed unreasonably burdensome. This phenomenon was, in the great European inflations of the 'twenties, called flight into real goods (Flucht in die Sachwerte) or crack-up boom (Katastrophenhausse).

[romans holiday]

We have seen MASSIVE credit expansion according to my understanding of mises and Austrian economics i would say as stated many times before that we are now in the stages of what Mises termed "THE HYPERINFLATIONARY CRACK UP BOOM."

We have seen MASSIVE credit expansion = "THE HYPERINFLATIONARY CRACK UP BOOM."

 

Corrected

[fitkid]

We have seen MASSIVE credit expansion = "THE HYPERINFLATIONARY CRACK UP BOOM."

 

Corrected

 

I would disagree with that RH.

My understanding is that the Hyperinflationary crack up as described by Mises is the ATTEMPT to cover and sustain the initial MASSIVE credit expansion by all means necessary as we have/are witnessing right now ie MASSIVE bailouts of all and sundry of to big to fail corp's.Scrappage schemes,home share schemes for first time and prospective buyers etc etc etc.

All of which just try to maintain the ILLUSSIONARY wealth that the SHEEPLE think that they have INGENIOUSLY procurred from their own incredible skills in economic/financial management.

This is all TOTALLY futile and will make the ending EVEN worse than if NATURAL LAW had been allowed to prevail sooner.

[Peace]

This is all TOTALLY futile and will make the ending EVEN worse than if NATURAL LAW had been allowed to prevail sooner.

The sooner we get back to natural law and get freedom from the paper masters the better

[fitkid]

The sooner we get back to natural law and get freedom from the paper masters the better

NICE THOUGHTS!!!

But that aint never going to happen people are in a coma.

The elite are re-centralising their power in front of our very eyes.

When they IMPLODE the current totally unsustainable system.(As it was always designed to do)

They will have procurred all the GOLD and will RE-SET the system according to that rule.

HISTORY SHOWS THEY WHO OWN THE GOLD MAKE THE RULES.

So to the ignorant it will look as though natural law and a return to honest money is being facilitated and on the surface it will look that way.

But it will just be another re-run of the current debacle again as history has repeatedly shown us.

A GOLD STANDARD BACKING THEIR PAPER WHICH WILL BE DE-BASED and DE-BASED and DE-BASED until we are back to the current situation followed by Implosion and another RE-RUN.

The only changes are the so called countries where the scam is played out next allah india and china.

REMEMBER

THERE IS NOTHING NEW UNDER THE SUN.!!!!

[DoctorSolar]

1287 in the blinking of an eye

[d2thdr]

[nicejim]

How do you know it is not true? As I understand it, the BV trading bots offer less than another user would offer. I do not recall a representative of BV ever coming here to talk about their trading bots - only to reassure people that their gold would still be safe even after having taken on the Rothschilds as partners!

I know from experience.

 

"If you use it, you are trading directly with BV"

Not true. They do have bots trading for them, but not all trades are with the bots.

 

"they don't tell you this"

Not true. I was aware of this before using their system.

 

"they basically rape you"

Not true. I checked a few contracts to see whether the "P" was displayed prominently. It is. But also, there were orders which were matched partly by BV and partly by other BV users, and plenty of orders were matched below the price I bid. I can't say for sure whether I got the best possible price but if I paid less than I was willing to pay then I have no reason to complain. My usual technique was (I've not bought any in a while now) to put in a cheeky bid below all the listed offers, for a small amount of gold, and it was often immediately filled at or below that by BV.

[alexreeve]

1287 in the blinking of an eye

I put in a spreadbet about a minute before it popped, trying to bottom fish. Thought it had stopped out but hit the limit in unbelievable time! Was very confused for a few seconds, now very happy.

[InternationalRockSuperstar]

We have seen MASSIVE credit expansion = "THE HYPERINFLATIONARY CRACK UP BOOM."

 

Corrected

 

There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.

[azazel]

On Simon Mayo, radio 2 today, about 5.33pm theres talk about Gold. They have interview with Adrian Ash from BV.

 

http://www.bbc.co.uk/iplayer/console/b00ts...time_21_09_2010

 

About 29 mins in...

[DoctorSolar]

From the June Gold thread when gold was at 1256:

 

http://www.cnbc.com/id/15840232?video=1525161532&play=1

 

Could we go higher? Yeah 10 bucks. But 200 down is gonna hit before 50 up

 

So $1056 will happen before we see $1306? Lets see how this one works out...

 

1289.... tick-tock... only 17 dollars to go

 

are "these markets perverse" yet?

 

 

[HPCsoYESTERDAY]

On Simon Mayo, radio 2 today, about 5.33pm theres talk about Gold. They have interview with Adrian Ash from BV.

 

http://www.bbc.co.uk/iplayer/console/b00ts...time_21_09_2010

 

About 29 mins in...

 

Hmm, phase 3?

[HPCsoYESTERDAY]

From the June Gold thread when gold was at 1256:

 

http://www.cnbc.com/id/15840232?video=1525161532&play=1

 

 

 

 

 

1289.... tick-tock... only 17 dollars to go

 

are "these markets perverse" yet?

 

Bobby hoye recently admitted he got it wrong so i hear

[d2thdr]

Hmm, phase 3?

 

 

Far from it. Long long way to go. They still called it an investment. It will be too late for many to buy.