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OK, I'm FED up watching this. I think I will check back tonight, and it better be at $950 to make me really happy.

 

Top caller, where are thou?

 

 

Unfortunately, we seem to have lost RB as a reliable contra indicator.

 

Realistbear: I find it increasingly difficult to try to predict anything.

 

http://www.housepricecrash.co.uk/forum/ind...howtopic=154090

 

 

Glad that RB finally realises that he does not understand anything but peeved that we have lost a top rated 'top caller' :lol:

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Unfortunately, we seem to have lost RB as a reliable contra indicator.

 

Realistbear: I find it increasingly difficult to try to predict anything.

 

http://www.housepricecrash.co.uk/forum/ind...howtopic=154090

 

 

Glad that RB finally realises that he does not understand anything but peeved that we have lost a top rated 'top caller' :lol:

 

Be gentle he understands property but not gold because gold is an outlier an oddity, it is not an investment, it is free market money; the implications are not easily understood.

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I see there is now a Gold Explorers ETF GLDX:

 

http://www.prnewswire.com/news-releases/gl...-106687923.html

 

Has anyone taken a look at this? Anyone got a link to the component companies and their weightings?

 

I could only find the top ten:

 

Detour Gold Corp. 4.75%

European Goldfields Ltd. 4.75%

Novagold Resources Inc. 4.75%

Gabriel Resources Ltd. 4.75%

Seabridge Gold Inc. 4.75%

Ventana Gold Corp. 4.75%

Fronteer Gold Inc. 4.75%

Rubicon Minerals Corp. 4.75%

Guyana Goldfields Inc. 4.75%

Colossus Minerals Inc. 4.60%

Other 52.65%

 

Number of Holdings 30

 

 

 

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RB will buy at the peak, just as back in 1980.

 

Oh, wait a minute, I forgot he sold right at the peak back then!

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I was mulling over why it is that so many people, some obviously intelligent, try to create complicated models to explain why QE , massive debt and de-industrialisation of the West is not a problem and how this complicated economy can be tweaked and tinkered with and it will all come right.

 

 

Perhaps the reason people try to create these models is simply an unwillingness/inability to admit that 500 years of Western hegemony is ending.

 

 

This is the best post I've ever read of GEI -perceptive and to the point

 

Needless to say, I agree completely :lol:

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This is the best post I've ever read of GEI -perceptive and to the point

 

Needless to say, I agree completely :lol:

 

My girlfriend and I were discussing this with our evening meal, the world is in a mess due to the fact that politicians are unable to admit to their mistakes as it potentially compromises their source of income.

 

I posted sometime ago that I thought Gold miners would decouple from the broader market, this chart suggests it happened in April;

 

Screenshot2010-11-05at214421-1.png

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Zoellick, the head of the World Bank is seeking debate on a new gold standard, according

to a FT article.

 

 

World Bank President Robert Zoellick Calls For Return To "Old Money" Gold Standard

 

One of the most serious condemnations of the race to the currency bottom to date comes not come from some peripheral media, but from the head of the World Bank itself, who in a just released Op-Ed in the Financial Times says that since the system of floating currencies established by the 1971 Bretton Woods II system, has broken down, it is time to look to a new international system of commerce, one which "should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values." In other words, welcome back gold standard 2

 

http://www.zerohedge.com/article/world-ban...y-gold-standard

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Saw that earlier today, but couldn't post at the time. Here's more of the article. It's also the reason why it's nonsense to think gold is in a bubble. Bubbles belong to assets, gold is being re-monetized. imo to stabilize the international currency system, governments will eventually, and formally, monetize gold in some 21st C version of a gold standard.

 

The G20 must look beyond Bretton Woods

 

http://www.ft.com/cms/s/0/5bb39488-ea99-11...l#axzz14fp5e9Zj

With talk of currency wars and disagreements over the US Federal Reserve’s policy of quantitative easing, the summit of the Group of 20 leading economies in Seoul this week is shaping up as the latest test of international co-operation. So we should ask: co-operation to what end?

 

When the G7 experimented with economic co-ordination in the 1980s, the Plaza and Louvre Accords focused attention on exchange rates. Yet the policy underpinnings ran deeper. The Reagan administration, guided by James Baker, the then Treasury secretary, wanted to resist a protectionist upsurge from Congress, like the one we see today. It therefore combined currency co-ordination with the launch of the Uruguay Round that created the World Trade Organisation and a push for free trade that led to agreements with Canada and Mexico. International leadership worked with domestic policies to boost competitiveness.

 

As part of this “package approach”, G7 countries were supposed to address the fundamentals of growth – today’s structural reform agenda. For example, the 1986 Tax Reform Act broadened the revenue base while slashing marginal income tax rates. Mr Baker worked with his G7 colleagues and central bankers to orchestrate international co-operation to build private-sector confidence.

 

.......

 

Fifth, the G20 should complement this growth recovery programme with a plan to build a co-operative monetary system that reflects emerging economic conditions. This new system is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves towards internationalisation and then an open capital account.

 

The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today.

 

The development of a monetary system to succeed “Bretton Woods II”, launched in 1971, will take time. But we need to begin. The scope of the changes since 1971 certainly matches those between 1945 and 1971 that prompted the shift from Bretton Woods I to II. Serious work should include possible changes in International Monetary Fund rules to review capital as well as current account policies, and connect IMF monetary assessments with WTO obligations not to use currency policies to remove trade concessions.

 

This package approach to economic co-operation reaches beyond the recent G20 dialogue, but the ideas are practical and feasible, not radical. And it has clear advantages. It supplies a growth and monetary agenda that parallels the G20 financial sector reforms. It could be built upon prompt incremental actions, combined with credible steps to be pursued over time, allowing for political dialogue at home. And it could help rebuild public and market confidence, which will remain under stress in 2011. Perhaps most importantly, this package could get governments ahead of problems instead of reacting to economic, political and social storms.

 

Drive or drift? How the G20 decides could determine whether multilateral co-operation can achieve a strong economic recovery.

 

"....markets are using gold as an alternative monetary asset today." You could read for "markets", central banks.

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I see they're discussing Zoellick's ideas about gold on Bloomberg.

 

The criticism was that if you asked 5 different people why gold is rising, you would get 5 different answers. This only reveals how "anglo-centric" these guys are.

 

If, on the other hand, you asked 5 people representing 5 different nationalities, I'd say you'd get more of a consensus, along the lines of recognizing gold's status as an international currency. I reckon a decline in US power will co-incide with a more internationalist monetary system.

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I see they're discussing Zoellick's ideas about gold on Bloomberg. ...

He starts sounding just like Jim Sinclair:

 

http://www.bloomberg.com/news/2010-11-07/g...llick-says.html

The system should evaluate using gold as a reference point of market expectations about inflation, deflation and future currency values, Zoellick writes, noting that while textbooks may view gold as “old money,” markets use it today as an alternative monetary asset.

Gold an "alternative" monetary asset! :lol: It is THE monetary asset.

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Did anyone hear the 15 minute discussion on gold on start the week on radio 4 this morning. It was on at 9am with Andrew Marr. They were talking about the gold mania and the economist was making the case that we are not close to the end of the bull run.

 

It seems gold investing is starting to hit the mainstream.

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Did anyone hear the 15 minute discussion on gold on start the week on radio 4 this morning. It was on at 9am with Andrew Marr. They were talking about the gold mania and the economist was making the case that we are not close to the end of the bull run.

 

It seems gold investing is starting to hit the mainstream.

 

Yes I heard most of it. I will try and find it on the BBCi player. It was Andrew Marr, start the week talking to Gillian Tett from the FT. Very interesting and worth a listen.

 

http://www.bbc.co.uk/iplayer/episode/b00vr...eek_08_11_2010/

 

Its the first item after the news...

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Did anyone hear the 15 minute discussion on gold on start the week on radio 4 this morning. It was on at 9am with Andrew Marr. They were talking about the gold mania and the economist was making the case that we are not close to the end of the bull run.

 

It seems gold investing is starting to hit the mainstream.

 

 

Yes I did hear that. But the discussion was on gold standard. not purchasing gold per se.

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Can we finish today above $1400?

 

 

Strap yourselves in boys... 1,500 is gonna come and go with a blink of an eye.

 

Crack-up boom in progress.

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Strap yourselves in boys... 1,500 is gonna come and go with a blink of an eye.

 

Crack-up boom in progress.

 

 

I am strapped-in but the engines' vibrations scare me.

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I sold all my GDX a while back, it would have been a dumb decision had I not swapped it for physical silver :lol:

 

Still have mixed feelings about whether it was the right thing to do though ;)

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Marr (Lackey estblishment man) tried as best as he could to convince the R4 listening sheeple that gold is in a bubble. Those that follow conventional wisdom and plummy Marr consensus will be obliterated by future events.

 

"Lets talk about another commodity that attracts mania - drugs", says Marr

 

Gold in a bubble - yeh, that's why every man and his dog is buying gold at the moment. Hey, and check out all the gold ramping on TV - Gold under the Hammer. The only mania associated with gold at the moment is a few insiders desperately trying to get uninformed plebs to sell their gold. Hey, gold's in a bubble - therefore don't buy, sell instead, you know it makes sense.

 

I bet Marr has got some - gold I mean, not integrity.

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