GOLD

[LauraB]

All the Mods are going, one by one.

Then I will add new ones later.

 

I do not think I wish to accept your invitation to moderate at present Bubb, thank you.

[romans holiday]

Bubb what have you done? Jeez...GF was the prolific poster on here. Just because RH tows your line does not make him any suitable to be a mod over GF. IMHO GF is a far better poster than RH also RH uses way too much jargon to confuse posters. You have killed the forum BUBB. You are the biggest looser here.

Well, I hardly 'tow the line'. Here were my thoughts on the matter:

 

OK, the 2 cents worth of someone who counts himself a gold bull but not a gold bug. First of, it's your site so you can do what you want. If you want to continue building a vibrant forum though then you'll have to allow people some elbow room.

 

The idea of having distinct threads allows people to focus on distinct topics. There is nothing wrong with 'The Gold Thread' thread having a Buy and Hold bias seeing gold has performed so well these past ten years. I'd say most people frequenting the thread have the long term/ investment in mind.

 

The Trading of Gold [i prefer Silver here], which is also a suitable topic should also have its own focus and thread. Of course these two topics over-lap to a certain extent, and there is nothing wrong with making short term calls, whether bearish or bullish on long term gold. These may help people with entry points.

 

If you are bearish long term on gold, a separate thread should be opened for this as it is a distinct topic to the Bull and Trading threads. I'm sure a Gold Bear thread will get just as many readers.

 

 

As for moderation, I don't do any these days and wouldn't mind just being signed up as a member.

 

Just noticed I am now a 'member'. Fine with me.

[drbubb]

I do not think I wish to accept your invitation to moderate at present Bubb, thank you.

Okay.

Thank you for responding.

[drbubb]

http://news.goldseek.com/GoldSeek/1331219220.php

 

Now that we are at this pullback point in the market, the dollar clearly has a couple choices:

1) either go on to make new highs and most likely drive a deeper correction in stocks and commodities, or

2) fail to make new highs, and stoke a continued rally in stocks and commodities.

 

 

Looking at a weekly chart of the dollar, from a Stage Analysis perspective the dollar is still rising above a rising 30-week moving average, which is bullish for the dollar. But momentum is clearly slowing to the upside, and both previous major rallies in the dollar failed when the TRIX momentum indicator rolled over to the downside on the weekly chart. Notice too that if the dollar rally were to fail here or close to here, each successive dollar rally since the panic in 2008 has carried less momentum to the upside.

 

 

== ==

 

Greek Bond participation ?

 

Now up to 73% -- Official figure die tomorrow - per Bloomberg

[Perishabull]

I dont understand why Goldfinger decided to leave the site just because Bubb decided it was time for a change in moderators. Seems a bit curious...

 

Did I miss something?

[halight]

LOL

Good point. We have gone off topic.

=====================================

 

Gold prices rise on Greek bond swap deal

Economic Times - 9 hours ago

 

Holdings in the gold-backed exchange-traded funds hit a record high, and gained 269000 ounces since last Wednesday, when gold prices collapsed 6 per cent ...

In-Depth: PRECIOUS-Gold rises but easing euro dampens rally‎ Reuters

 

Personally,

I think there is a fair chance this optimism may be short-lived.

 

I don't think those Greek bond acceptances will get to 90%

 

 

I think that the Gold price will fall lower over the next few weeks. The price i feel, was getting ahead too fast. Now maybe it was TPTB that knocked it down or mayve Mr Market did it. I dont know. It just looked to me to be shoothing up far too fast.

 

 

Onto the Greek deal....

 

 

I do think that they will get the % that they need to do a deal. But even if they dont,. I think that they will all be made to fall into line. They might use a carrott or they may use a stick.

The deal will happen

[Perishabull]

Report from the "Chatham House Gold Taskforce" on gold and the international monetary system - http://www.chathamho...s/r0212gold.pdf

 

Excerpts;

 

"Gold's use to back the value of the dollar would be impractical and there is little scope for the metal to play a more formal role in the international monetary system, the U.K.'s influential research institute Chatham House or the Royal Institute of International Affairs has said. While a higher gold price may reflect a lack of confidence in key currencies and low returns on other assets, there's no consistent correlation between bullion and economic variables that could be used to inform policy decision making, according to a task force that discussed possible roles for gold.

 

The metal can be used to hedge against currency devaluation and other risks as part of a portfolio, but not on its own, it said.

 

"Reintroducing gold as an anchor would undoubtedly be impractical or even damaging, given bullion's deflationary bias," the task force, which held discussions over eight months, said in a report today. "Gold can serve as a hedge against declining values of key fiat currencies, and can also be useful for central banks looking to diversify their foreign reserves."

 

While the gold standard may no longer exist, nations and international organizations still have 30,877 metric tons of bullion reserves, valued at about $1.77 trillion.

 

The dollar has been the world's reserve currency since the U.S. and allies agreed at the 1944 Bretton Woods conference to peg it to a rate of $35 per ounce of gold. It remained the most- traded legal tender after global currencies began freely floating in the early 1970s. The greenback dropped 12 percent against a basket of six major currencies since March 2009. The U.K. suspended the gold standard in 1931, Chatham House said.

 

"Greater discipline on financial markets might have been helpful in inhibiting the reckless banking and excessive debt accumulation of the past decade," the task force said. "However, with the onset of the global crisis, had gold had a more formal role to play, the rigidity it imposes might also have been a handicap when a more flexible policy response was required."

 

Including gold in the International Monetary Fund's Special Drawing Rights system probably wouldn't bring substantial benefits, and adding developing economies' currencies to the basket would be more desirable, according to the task force. SDRs were created in 1969 and are an artificial currency that IMF members use to settle accounts with each other and can be converted into hard currencies.

 

Chatham House was founded in 1920 and is based in London. Members of the gold task force include Gerard Lyons, chief economist at Standard Chartered Plc, Meghnad Desai, professor emeritus of the London School of Economics and a member of Britain's House of Lords, and Catherine Schenk, a professor of international economic history at the University of Glasgow.

 

"For gold to play a more formal role in the international monetary system, it would be imperative for it neither to hamper the system's performance nor to create unacceptable constraints on national economic policies," the task force said. "

[halight]

I dont belive that we will ever go back on a Gold standard.

 

The doller will be droped as the worlds RC but not in the next few years.

 

Gold has a part to play in the world. I like it. And i bullish on it long tearm. I will try to buy on the dips. If i see it getting frothy then i may sell a bit. But im really a bit of a buy and hold guy. I think Gold is a good place to park money.

 

The easy money in Gold has been made. Trading may well make you a lot more moeny than buy and hold now. But i dont have the time. Or the know how to do it. Im learning. But im still a long way from becomeing a trader. Mabe in time. I hope i can gain enough know how to do some tradeing.

[halight]

I dont understand why Goldfinger decided to leave the site just because Bubb decided it was time for a change in moderators. Seems a bit curious...

 

Did I miss something?

 

 

Im sory that he has gone.

 

But its really upto him. The last few weeks he has not been posting as much as normal. I think he needed a break or somthing.

I hope that he comes back. I got a lot out of his posts and if he reads this. Im very thankfull to him for them posts.

[Bosworth]

•facepalm•

[halight]

•facepalm•

 

 

 

 

:blink: :blink:

 

????????????????????????????????????????

[Errol]

The easy money in Gold has been made.

 

Depends what you mean by 'easy'. I believe gold is going to $4000+ - possibly as high as $12000.

[Chartered Surveyor]

Advice and opinions sought

 

Which Uk/London bullion dealers at the moment are offering the best premiums on sale back of Kruggerands 1oz.. Are there any offering spot price?

 

Also can anyone talk me through the process. ie what documents I need, proof of purchase etc. as I am cashing in some profits for other needs.

[halight]

Depends what you mean by 'easy'. I believe gold is going to $4000+ - possibly as high as $12000.

 

 

Well, if it dose then i will be wrong. But happy as iv got a B&H holding with bullionvault. I also have some Gold Sovs and some 1oz silver eagles. I will also be adding to my holding slowley by buying the dips. I added some to my holding this week.

[halight]

Advice and opinions sought

 

Which Uk/London bullion dealers at the moment are offering the best premiums on sale back of Kruggerands 1oz.. Are there any offering spot price?

 

Also can anyone talk me through the process. ie what documents I need, proof of purchase etc. as I am cashing in some profits for other needs.

 

 

Take a look at this company.

 

Link http://www.guernseymint.com/

[drbubb]

 

http://www.resourceinvestor.com/2012/03/08/inflation-ahead-buy-gold-or-buy-stocks?t=precious-metals

 

Jeremy Grantham of GMO says inflation now looms. "The 800-pound gorilla...is not in the room yet, but you can hear him thumping his chest up in the hills," he writes in his latest client letter.

 

This gorilla – a rising cost of living – would eat pensioners and bondholders for breakfast, of course, and gnaw on their fixed-income bones for lunch. "He will come eventually, and before he does, you should remember that stocks are underrated inflation hedges," the GMO letter goes on, pointing to scatter charts so dense you'd think Georges Seurat had painted them.

 

Beyond the pointilism, though, Grantham agrees with Paulson that you'll want to be early with gold. But stocks bought as an inflation hedge ahead of time could cost you at first.

 

 

"As inflation picks up, the real price of gold goes up, the real price of bonds declines a lot, and equities decline also, but significantly less," says Grantham. Still, on a 10-year basis, no matter, he reckons. Such "surges in inflation have been a very slight issue for holders of equities (and gold)...but a very serious one for bondholders." And stocks remain "under-rated inflation hedges" he believes.

[cassini]

Scene 2. Int. Vogon Spaceship. Bridge.

 

VOGON CAPTAIN:

Is that definitely the ship?

 

VOGON GUARD ONE:

Affirmative Captain, we have confirmed positive identification.

///

 

VOGON CAPTAIN:

That is exactly what you always say!!

 

http://www.clivebanks.co.uk/THHGTTG/THHGTTGradio9.htm

 

Best listened to rather than read, if anyone can find the audio for episode 9 that would be better.

[azazel]

By the way, how do I have to interpret that I am no moderator anymore?

 

Have my times at GEI come to an end?

 

EDIT: Oops, sorry, I saw your private message. I also see that the hyper-deflationist RH still IS a moderator. OK, so, that is the end then. Bye everyone. I had a good time on here. You know where to find me.

 

--- POST 11,440: GF OUT. ---

 

Thanks Goldfinger, I for one appreciate all your posts and its outrageous that you have been treated in this way. It seems the same moronic behavior that occurred at HPC 3 or 4 years ago has also occurred here. I do hope you visit Pix site.

[drbubb]

Your only logical next step is to invade Poland, Bubb.

 

Please do ban me. I saw the Munich beerhall putsch behaviour starting with the 'Goldbugs Clawing the Sky' nonsense you posted a year ago.

 

PS: The Nazis have a base on the far side of the moon: really. You know it makes sense...I have video proof...they've been delayed by an earthquake and a tsunami in their attempts to reconquer earth though, fortunately...

Ha.. ha (not)

 

As requested.

You are the first. Enjoy your 10 day holiday

[drbubb]

Thanks Goldfinger, I for one appreciate all your posts and its outrageous that you have been treated in this way. It seems the same moronic behavior that occurred at HPC 3 or 4 years ago has also occurred here. I do hope you visit Pix site.

???

Just how has he been "treated" ?

 

I am slimming down Mods, as I have stated.

One by one, I have transferred 4 to "Members" for reasons mentioned.

 

Why should I pay for an maintain a website for "azazels" who simply want to sling mud and abuse the host?

 

Shocking bad manners, Az.!

[azazel]

???

Just how has he been "treated" ?

 

I am slimming down Mods, as I have stated.

One by one, I have transferred 4 to "Members" for reasons mentioned.

 

Why should I pay for an maintain a website for "azazels" who simply want to sling mud and abuse the host?

 

Shocking bad manners, Az.!

 

Because this thread was goldfingers thread and you moved it to the loony forum and removed goldfingers moderation. I think thats disrespectful of a truly great contributor. Clearly he also did which is why he has quit. I do not want to "sling mud and abuse the host", I have always been respectful to you as you generally are well mannered, but I do not see the sense in vandalizing what is probably the most popular thread on the site, upsetting some of the most regular contributors here. It seems like a moment of madness.

[drbubb]

Because this thread was goldfingers thread and you moved it to the loony forum and removed goldfingers moderation. I think thats disrespectful of a truly great contributor. Clearly he also did which is why he has quit.

I am not running this website to have abuse showered on the guy who runs it. (!!)

 

(You should get the time sequence right. GF posted is latest posting concerning no longer being a Moderator BEFORE I transferred this thread to the Fringe section. The transfer was in response to his posting and other complaints.)

 

If GF or others want to sulk or complain, then they can do it here or elsewhere on the web, but not on GEI's Main board. Is there anything at all unfair about that?

 

On the other hand, if I see constructive postings on both threads, I will merge them into a single Main board thread. I am a person of my word, and of honor. It is really up to you and the other posters how this will go forward.

[drbubb]

THE FUTURE FOR GEI - might rest upon a smaller group of people,

using some more sophisticated techniqes - and with more open minds towards trading ideas

===================

 

To give you some idea of my own vision of that,

Here's an idea that I have looked at on the new thread: http://tinyurl.com/GEI-GDXJ

 

In answer to a comment:

"I have positions in both GDX and GDXJ - long term buying (on weakness) and holding.

Looking for $100+ for gdx and $70+ for gdxj." - E.

I wrote:

 

Is that predicated upon a Future Gold price assumption? Or something else?

 

How would you calculate the "Future Gold Price"? - Here's how I would do it:

 

The GDXJ to GLD Ratio is now 15%, and average maybe 20%, with a high of perhaps 25%, and so:

 

A GDXJ price of your $70 means:

==============

15% : GLD-$467 / 0.097 = Gold-$4,811

20% : GLD-$350 / 0.097 = Gold-$3,608

25% : GLD-$280 / 0.097 = Gold-$2,887

 

Are you as optimstic as that on Future Gold prices? Why not- it is a possibility.

 

If you do not understand this, please feel free to ask questions on either thread.

 

I am not saying that everyone has to think or trade this way, but I am also not happy having such types of discussions treated as something that does not belong on GEI.

 

A smaller GEI might be a better GEI, if we can improve further on the quality of postings here.

If you are willing, join me in this new adventure.

[lyb]

From past experience, it appears that gold is in a consolidation period at the moment.

 

The long term trend is still upwards. It does not depend on the imposition of a gold standard. It only depends on China's will to increase its reserves in its effort to internationalize its currency and protects its 3 trillion $ reserves from the possibility of further QE.Recently China is suspected to have bought heavily on the drop around 1550$. The chances are it will continue doing so on every significant drop, until the percentage of its gold reserves rise substantially above the pathetic 1.5% which is the present level.

 

Buy and hold is fine.

 

Trading is fine for those experienced to take advantage of the volatility. However, silver and gold stocks

are more suitable for trading purposes due to their higher volatility.

[lyb]

In Greece, tax authorities started investigating purchases by gold. A list of 600 people are reported

to have bought gold since 2009. In a country of 10000000 , given the peril of the banking system,this does not appear to be a big number. The country if full of pawnbrokers and other shops offering to buy your old jewellry for cash.In my opinion all this is evidence of

 

1) gold is increasingly treated as a currency not an investment.

2) still a long way from strong public interest, especially given the 170 billion Euros sitting idly on bank

accounts or the 65 billion sent to other countries.

3) exploitation of the desperate state of many families that have seen wages cut or eliminated and taxes

increase.