Jump to content

Recommended Posts

seems like cgnao called it

Still some downside possible. Depends on how much physical gold the manipulators are willing/capable to dump.

 

All this is a rather impressive, co-ordinated central bank effort to try and save the US dollar by making the world believe deflation is coming.

 

It won't work. This is all you need to know and is 100% correct, guaranteed.

I agree with cgnao once again.

Link to comment
Share on other sites

  • Replies 30.9k
  • Created
  • Last Reply

Top Posters In This Topic

  • G0ldfinger

    2616

  • romans holiday

    2235

  • drbubb

    1478

  • Steve Netwriter

    1449

What if this is the bull trap, and the bear trap was back in May '06? :o

 

Then we are all owners of some very pretty paper weights :lol:

 

There has been a lot of discussion on this and the general consensus seemed to be that there was just no media / mania faze.

Yes in the past couple of week there has been some $1000 headlines, but thats to be expected. But no 80's style mania faze.

 

Link to comment
Share on other sites

I think BV is an extremely good service, and any gold I store there is possibly safer than in a home or a bank. There are certain risks, like confiscation or capital flow restrictions etc. But there are also certain risks if you store bullion privately. I use BV, and I use other services as well.

 

Cheers GF

Link to comment
Share on other sites

None of the cuts made in the Fed funds rate have really made it into the pockets of Joe Sixpack and Sally Housecoat. Mortgage rates continue to rise just like they're doing here so all this effort is aimed at supporting the banks . . . period. There was a full 100 bps cut this week but was very cleverly presented with the discount rate cut by 25bps on Sunday night with another 75bps on Tuesday. The herd saw what the Fed wanted them to see.

 

The Fed have pulled off a masterstroke - they've bitch-slapped commodities into line, strengthened the greenback against the euro, pushed the Dow back up over 12300, eased liquidity by pledging to take on moody mortgage paper from anybody upstream of the hedge funds and given the impression they're getting tough on inflation by giving the market 75bps when they obviously wanted 100.

 

At the same time they thieved an investment bank for one of their founders. Not too bad for four days work.

Link to comment
Share on other sites

Will the price of silver stay put until trading starts again on Tuesday or are the bank holidays only in UK? Is it worth buying a load of silver now (22Kg) or do I leave it till sunday or monday rather, to see whats up then?

 

 

Woot do ya thinks?? :rolleyes:

Link to comment
Share on other sites

Will the price of silver stay put until trading starts again on Tuesday or are the bank holidays only in UK? Is it worth buying a load of silver now (22Kg) or do I leave it till sunday or monday rather, to see whats up then?

 

 

Woot do ya thinks?? :rolleyes:

 

 

I'd leave it until next week. The shorters haven't finished yet and there's a very good chance that they'll break $900, however briefly, next week.

 

Watch out for the next bounce, as I think it wil be something of a trap before another push lower.

 

I'm still looking at trying to get in on a low volume dip below $887, but anything below $900 should be good enough.

 

I wouldn't hang around too long though, based on previous experience it's very easy to get left behind by gold when you're dithering over a purchase.

Link to comment
Share on other sites

25% collapse in four trading days. I think silver is bad for you health.

 

 

All chart based I think. The recent run up and overperformance took it far above the moving averages and made it vulnerable to this kind of beating.

 

I'll be mainly playing silver for the recovery, as it should bounce back equally as fast when gold starts moving again.

Link to comment
Share on other sites

I've just been looking at the prices on Goldline and I notice that Nuggets, Philharmonikers and Eagles are all out of stock, then I checked Chards ebay store to see what they have for sale and they only have 3 pages of gold coins, they usually have 6 pages.

 

http://www.goldline.co.uk/bullionCoinsPage.page

 

http://stores.ebay.co.uk/Chard-Coins_W0QQc...0QQftidZ2QQtZkm

 

From my personal perspective I hope gold falls quite a bit more, I've been saving cash for a while now and waiting for a serious pull back. With already owning a fair amount of coins I feel good when the price shoots up yet also a little disappointed that didn't get more when the price was below $700. I don't think it will fall back anywhere near that level, though anything near $800-850 would be fantastic.

 

Funny emotions all round with gold or any asset for that matter and I don't think there exists an emotocon that can express the feelings, when its rising you feel great but disappointed that you didn't buy more, when its falling you can feel lousy and hesitant about buying more at the lower price, then when it rises again you kick yourself for not buying when it was cheaper.

 

I feel sorry for those who are new to the market and jumped in at over $1000, if they do not fully understand the gold market then they will probably be shaken out. It took me over a year of looking into the subject before I started buying. I value the time I spent time looking into gold before buying even though I missed out on a lot of early gains, yet because of this I have the confidence not to be shaken out by daily/weekly price movements. If I had not have looked into it properly I would probably have bought in 2006 and been shaken out of the market when the price fell after spiking at $725. I think sometimes when I come across posters who seem almost anti-gold I wonder if they were the ones who were shaken out in 2006.

 

 

When I see what happened Bear Stearns share holders earlier this week, it really does make me feel far more secure to be able to hold half of my wealth in my own hands.

Link to comment
Share on other sites

I am not so sure about this. I think it will be enough if the existing money seeks a new home. Away from triple-A subprime to commodities. However, the bailouts will indeed create new money. The bailouts will make sure that anyone who wants no AAA anymore can get out and into the new bubble.

 

They don't want to, but they will create another bubble. It's going to be (and has been already for while) commodities and precious metals.

This was my line of thinking also. Fed/BoE/ECB swap fresh high level money for junk mortgage debt, mainlined straight into the banks. With freshly capitalised balance sheets they buy PM's and commodities (as earnings into retail/luxuries corps collapses) to hold tight (and make a tidy profit in the next bubble)

 

Cracking debate from all by the way.

Link to comment
Share on other sites

Do you mean to say that all the extra liquidity being pumped into the banks is ending up being used for speculation in the commodity markets ?

 

 

Yes, commodities or treasuries. Effectively the only viable games left in town. Treasuries for the deflationistas, commodities for the inflationistas. Both have risen dramatically over recent months, one or the other has risen in error and will fall back.

 

At the moment the picture being painted is that treasuries and bonds are the best defence, so commodities have fallen. I think this picture is short term misguidedness at best and a deliberate bear trap at worst, so I expect the situation to reverse over the next month.

Link to comment
Share on other sites

I don't know whether anyone will be interested, but I use this quite a bit:

 

SunClock

http://www.mapmaker.com/shadowfacts/v65/index.htm

 

It displays a cool map of the world, with where it's sunny and dark etc.

I find it handy to know what time it is in different parts of the world.

 

I'm on that little island at the bottom near the international date line :D

 

Link to comment
Share on other sites

Who needs Ben and his helicopter when the politicans are planning on just giving money away. As a I stated earlier, money has to enter the economy for there to be rising prices and here are plans from Hilary for a SECOND money bomb, even though Americans have yet to receive their first:

 

http://uk.news.yahoo.com/rtrs/20080321/tpl...cs-20b2d2f.html

 

Democratic presidential candidate Hillary Clinton unveiled a second economic stimulus package on Thursday as a new poll showed her maintaining her lead over Barack Obama among Democrats. With surveys showing the economy the top issue on voters' minds, Clinton called for new steps to address a deepening housing crisis, including a $30 billion (15 billion pound) emergency fund to help states buy foreclosed properties and provide mortgage restructuring.

Link to comment
Share on other sites

http://uk.news.yahoo.com/rtrs/20080321/tpl...cs-20b2d2f.html

 

Democratic presidential candidate Hillary Clinton unveiled a second economic stimulus package on Thursday as a new poll showed her maintaining her lead over Barack Obama among Democrats. With surveys showing the economy the top issue on voters' minds, Clinton called for new steps to address a deepening housing crisis, including a $30 billion (15 billion pound) emergency fund to help states buy foreclosed properties and provide mortgage restructuring.

 

In Peter Schiffs latest economic commentary he mentions an article in the Wall Street Journal by opinion page writer Holman Jenkins Jr that recommended that the government buy and “bulldoze” foreclosed homes in order to prop up the values of those that remain standing.

 

Finally, in response to Mr. Jenkins’ proposals, there is no question that we built far too many homes during the housing bubble. However, destroying them now will merely compound our losses. The one benefit we have from excess construction is an ample supply of what will soon be highly affordable homes. At the moment foreclosed houses are only unwanted because their prices are still too high. Once prices drop sufficiently there will be plenty of demand. However, destroying existing homes reduces their value to zero (actually less due to demolition costs) and only exacerbates the losses to creditors and society. Mr. Jenkins’ thinking is formed by the same perverse logic that led the Roosevelt Administration to destroy farm animals and crops during the 1930’s because he wanted to prop up food prices. As I wrote in my book “Crash Proof”, we must certainly be on the eve of our financial destruction, as we are clearly a nation gone completely mad.

 

http://www.europac.net/

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...