GOLD

[electroweak]

Call me the eternal optimist here, but I think we're setting up for a HUGE rally in POG once the 'recession' is priced in and the inflation takes hold. CBs have the financial system on life support and the 'derivative beast' demands huge amounts of money-printing.

 

I concur that by crimbo we're laughin'

(either that, or I'm cashing in everything to buy Au - if there's any left that is!)

[electroweak]

Call me the eternal optimist here, but I think we're setting up for a HUGE rally in POG once the 'recession' is priced in and the inflation takes hold. CBs have the financial system on life support and the 'derivative beast' demands huge amounts of money-printing.

 

I concur that by crimbo we're laughin'

(either that, or I'm cashing in everything to buy Au - if there's any left that is!)

EDIT: tick by tick it does seem there's relentless sellng going on. Quite discouraging.

[FWIW]

Candy floss money:

http://www.ft.com/cms/s/0/d2a9e446-9f75-11...0077b07658.html

 

Quote:

Gillian Tett of the FT coined the phrase “candy floss money”. Financial technology spun available “real” money into an exaggerated bubble that, like its fairground equivalent, collapses ultimately. The emerging market reserves system is another dimension of this candy floss money.

 

The perceived abundance of liquidity was, in reality, merely an illusion created by high levels of debt and leverage as well as the structure of global capital flows. As the financial system de-leverages, it is becoming clear, unsurprisingly, that available capital is more limited than previously estimated.

 

 

 

 

Cash is still king!

[grumpy-old-man]

well I am happy with my first purchase today, even though I am down already.

 

you guys with a fortune in gold, sit tight as I really do believe that it will rocket up in price, just as cg says.

 

Don't sit hitting that F5 key too much though.

 

 

[grumpy-old-man]

EDIT: tick by tick it does seem there's relentless sellng going on. Quite discouraging.

 

just remember why you bought gold in the first place. remember how many hours of research & reading posts you have done to get this far.

 

It's the only true store of wealth in this current climate.

[Errol]

Physical is the only way to hold gold. Do not trust anything electronic in this day and age. Those digits can be taken from you in a flash.

[G0ldfinger]

Interesting to observe this massive sell-off. Also, who knows how long it will last i.e. how long it takes these trillions to hit the markets. Let's say it will take something like one or two years. In this case, these one to two years are the buying opportunity of a lifetime in commodities.

[spoon]

 

 

we are in the midst of massive wealth distruction the likes of which most here haven't seen

 

gold has a lot further to fall. i don't see any reason to bounce before $690.

 

 

 

 

 

 

 

 

[lowrentyieldmakessense(honest!)]

we are in the midst of massive wealth distruction the likes of which most here haven't seen

 

gold has a lot further to fall. i don't see any reason to bounce before $690.

 

50% fall in the 1970's

 

 

[lowrentyieldmakessense(honest!)]

Interesting to observe this massive sell-off. Also, who knows how long it will last i.e. how long it takes these trillions to hit the markets. Let's say it will take something like one or two years. In this case, these one to two years are the buying opportunity of a lifetime in commodities.

 

maybe

 

but i reckon it will be more like one or two months

 

just dont see how we can have prolonged deflation in unleveraged assets (now if we had sound money and sound governments long term deflation could happen)

 

[hotairmail]

Can I make a humble suggestion?

 

All I hear is that gold is a long term investment and is the ultimate store of value...it does not change value - things only change value against it. Or that the fiat system will blow up and gold is an effective insurance policy - hence physical.

 

But people are forever fretting about its price in dollars, or Sterling if dollars don't work, or even houses as they are now going down and makes it look good.

 

So - bearing that in mind, why not try just not looking at the price of gold for say a year.

 

People sound too desperate trying to bolster their own 'investment' decisions by looking for agreement with others.

 

It really doesn't matter - just look at some of Goldfinger's long term graphs, lay it down like a good wine and forget it. Or just treat it as the ultimate form of insurance. The rest is noise. Unless, of course, you really think of it as a form of investment?

 

 

 

EDIT: By the way was that girl in the ad trying to make a deposit in the Envirolet compost toilet?

[G0ldfinger]

...

gold has a lot further to fall. i don't see any reason to bounce before $690.

The problem is, it could turn anytime. I don't see any reason why it shouldn't go to $2,000 within short. Massive debt taken on by the Western nations (cash gets trashed, only no one seems to care yet). On the other hand, funny as the market is right now, why not $500 soon? I'll buy with both hands.

[G0ldfinger]

Can I make a humble suggestion?

...

Problem is that these threads have turned into a short term/trading discussion.

 

I might soon start a new thread where I will discuss longer term issues only, like the one I have on GIM.

[lowrentyieldmakessense(honest!)]

The problem is, it could turn anytime. I don't see any reason why it shouldn't go to $2,000 within short. Massive debt taken on by the Western nations (cash gets trashed, only no one seems to care yet). On the other hand, funny as the market is right now, why not $500 soon? I'll buy with both hands.

I think it could get close

 

[hotairmail]

Problem is that these threads have turned into a short term/trading discussion.

 

I might soon start a new thread where I will discuss longer term issues only, like the one I have on GIM.

 

 

I think that is a great idea.

 

EDIT: By the way DOW tanking - down c.670 points - c.8%

[Errol]

I think it could get close

 

Excellent.

[jinbal]

I don't get why there is so much despondance here?

 

did everyone buy there Gold in USD?

 

I bought mine in GBP and TBH it's saved me form the beating that GBP is taking at the mo.

 

down 4-5% in against some currencies.

 

As far as i'm concerned Gold is doing exactly what I bought it for - protection from Turdling.

 

The annoying thing for me is that I kept some dry powder in my BV account but TBH prices in GBP dont look that cheap!

 

 

[lowrentyieldmakessense(honest!)]

Excellent.

dont listen to me

 

just a hunch - based on the 1970's experience

[wee Jinky]

the whole thing is a set up so the Americans can buy gold at low prices in$$$$ terms

while the rest of us are paying more for the stuff with our trashed currencies

It will also shake the bottle merchants into cashing in ,in a panic.

Once all the Americans (the ones that matter) have swapped their worthless paper for shiny shiny

the price in real terms will escalate until the Americans (the ones that matter) can swap them

for the latest bubble fiat fad

there are NO US coins available at coininvest

I wonder why?

unlike the majority on here my PM holdings are restricted to 2 krugers and a 500g bar of silver

which is basic survival rather than hedging my savings or even looking at a life changing profit

so I guess I can be a little more blaise regardless of the price it drops to

I am however very glad I have the physical in storage

I am quite convinced of the arguement for having it

sit back and enjoy the ride

oh and good luck

 

[Errol]

dont listen to me

 

just a hunch - based on the 1970's experience

 

I agree with you. I think we could see much lower levels. Its just annoying that I'm buying in sterling! I would love to see the days of £250-300 and ounce come back.

[G0ldfinger]

...

EDIT: By the way DOW tanking - down c.670 points - c.8%

I know. Time for ...

[Bobsta]

I may be looking for positivity where none exists.... But was that just a very solid bounce from $720?

[G0ldfinger]

I think this here is a new version of it. Made even me laugh.

 

[frizzers]

Gold needs to find a bottom here.

 

More likely at 700 then a countertrend rally to somewhere near the top of the channel before the next move down.

 

[url=http://g.imag

[Mr Pipples]

So - bearing that in mind, why not try just not looking at the price of gold for say a year.

 

People sound too desperate trying to bolster their own 'investment' decisions by looking for agreement with others.

 

It really doesn't matter - just look at some of Goldfinger's long term graphs, lay it down like a good wine and forget it. Or just treat it as the ultimate form of insurance. The rest is noise. Unless, of course, you really think of it as a form of investment?

 

 

Problem is that these threads have turned into a short term/trading discussion.

 

I might soon start a new thread where I will discuss longer term issues only, like the one I have on GIM.

 

There maybe are a few on here who comment from a trading perspective but I think there's also a fair number of people who've thrown a big part of what they have into PMs - cause they figured it the best thing to do considering the scary shit that's going down. Depending on situations, this may have a serious, major effect on their (& families, dependants, children) future well-being. Can't blame them for being bothered by how things are playing out.