Jump to content

Recommended Posts

  • Replies 30.9k
  • Created
  • Last Reply

Top Posters In This Topic

  • G0ldfinger

    2616

  • romans holiday

    2235

  • drbubb

    1478

  • Steve Netwriter

    1449

Obama is speaking in Fairfax, VA right now. According to him only government can save us from a long and painful recession. Investing to save the planet with green jobs that can't be outsourced. Lots of infrastructure spending, money for failing states. $1,000 tax cut for 95% of families.

Link to comment
Share on other sites

/_\

| |

| |

| |

| |

| |

* *

* *

* *

 

...on the launchpad . . . . . .

 

bu55er, it must be true what Mrs GOM said about me having OCD tendencies, after just 2 seconds, I realised that the middle section of your rocket needs moving 1 millimetre to the right. :unsure:

 

on a seperate note, great creativity there & a bit of childsplay, I guarantee you don't work in either finance, IT or the public sector. ;)

Link to comment
Share on other sites

bu55er, it must be true what Mrs GOM said about me having OCD tendencies, after just 2 seconds, I realised that the middle section of your rocket needs moving 1 millimetre to the right. :unsure:

 

on a seperate note, great creativity there & a bit of childsplay, I guarantee you don't work in either finance, IT or the public sector. ;)

Glad you liked my childsplay. In fact, it was the result of today's project in our kindergarden - the teacher told me I did well and gave me 2 gold stars :)

 

[bTW: I am in IT and the public sector!]

Link to comment
Share on other sites

Should be good for gold tomorrow, especially if they cut rates further.

You would have thought it would be good for gold but gold drops and pound "rallys". Perhaps 1% was expected and only 0.5% cut shows that the BoE are serious about defending the pound. LOL. And the war with Israel looks like it is going to escalate. Still, Id be pleased if the price does fall as I'm hoping to buy one of the four PMs sometime soon. (Im still tryig to get CAP verified with goldmoney, but cannot be bothered to do it via the post. Online wont work for some reason.)

Link to comment
Share on other sites

Thanks for re-posting my December post over here on the January thread, I was starting to think everyone had sold up. I think it might have been late March before I realised there was a new thread...

 

Indeed... it's crazy and gold/GBP didn't really have the legs on it after today's MPC announcement, I was hoping for more.

 

Looks to me like PPT levers started to get pulled as soon as silver shot up 2% in 10 minutes at start of US trading, passing that 11.5 level.

 

Indeed, they really got busy today - silver down 6%, 3.5%, oil down 15%.

 

Laughable really - they keep inflating the money supply, and concomitantly try to hold down these inflation indicating commodities. It can ony get harder and harder to keep these prices suppressed as money supply increases - eventually the top will blow open.

Link to comment
Share on other sites

http://www.telegraph.co.uk/finance/finance...for-safety.html

 

Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or "paper" proxies.

 

I think that one deserves highlighting :D :D

 

Merrill Lynch says rich turning to gold bars for safety

http://www.telegraph.co.uk/finance/finance...for-safety.html

 

Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or "paper" proxies.

 

Gary Dugan, the chief investment officer for the US bank, said there has been a remarkable change in sentiment. "People are genuinely worried about what the world is going to look like in 2009. It is amazing how many clients want physical gold, not ETFs," he said, referring to exchange trade funds listed in London, New York, and other bourses.

 

"They are so worried they want a portable asset in their house. I never thought I would be getting calls from clients saying they want a box of krugerrands," he said.

 

Merrill predicted that gold would soon blast through its all time-high of $1,030 an ounce, and would hit $1,150 by June.

 

The metal should do well whatever happens. If deflation sets in and rocks the economic system it will serve as a safe-haven, but if massive monetary stimulus gains traction and sets off inflation once again it will also come into its own as a store of value. "It's win-win either way," said Mr Dugan.

 

Link to comment
Share on other sites

The online CAP seemed to work for me, but the validation process failed to recognise my address 3 times and then told me to send the paper work in by post.

 

It is a lot of hassle, a lot more hassle than BV. I went to the first police station and it was closed for Christmas :blink: and at the second police station they told me they wouldn't sign it, I guess they were too busy catching criminals (cough), I then had to pay a Notary £60 for the pleasure of his signature to confirm the picture in my passport was a fair representation of me... If BV allowed me to trade silver I wouldn't have given this registration process the time of day.

 

Gold money-I've been trying last night and tonight to get CAP verified using the online method and I get an error message. Has anyone else used the online method? Is it just me being thick or does it not work?

 

Seems allot of hassel compared to BV.

Link to comment
Share on other sites

http://www.telegraph.co.uk/finance/finance...for-safety.html

 

Merrill Lynch has revealed that some of its richest clients are so alarmed by the state of the financial system and signs of political instability around the world that they are now insisting on the purchase of gold bars, shunning derivatives or "paper" proxies.

Sweet.

Link to comment
Share on other sites

This was at a solicitors, they have a resident notary. I had to remind myself of my gains in PM's not to feel too hard done by. :D

 

Oh dear :(

As I said elsewhere, you only need it certified not notified. I think most solicitors can certify, and are much cheaper.

 

Link to comment
Share on other sites

They are very precise about verification (see link (bottom left)), are you sure these would be acceptable?

 

http://goldmoney.com/en/cap.html

 

As I understand it, anyone qualified to certify a document:

 

an individual that is qualified to undertake certification services under authority of the Certification and International Trade Committee

 

I know from experience that they accepted an NZ police station stamp and the correct wording.

 

Obviously from that link, experiences of who does it and how much they charge is widely variable. I do not think it should cost that much to get someone to stamp and sign a document.

We did about 10x for I think under £10 a few years ago !

 

Sorry I've not been reading all the posts. Unless we are talking about companies and more specific requirements.

I just made the point about certifying versus using a notary, because it came up for us, and I had to research and explain it to quite a few people back then.

 

Link to comment
Share on other sites

Can I ask a question please.

what you all going to do if comex doesn't default, bonds spend all of next year at 0% rates and gold does the decent thing and gets back to a realistic price?

 

Of course :D

 

Funny you should ask that. I've just been looking at what the realistic price of gold is at the moment.

 

Looking at my chart from last year, which interestingly is still pretty relevant:

 

Gold_versus_Real_Fed_Funds_Rate_-1.gif

 

Trying to be the most conservative I can, lets say the 'normal' price of gold back in 1980 was US$300/oz. Notice that's a LONG way below the peak. It's actually about the same as the 1999 low.

Now the money supply has increased by about 7.7x from 1980 to Apr 2008.

 

So the realistic gold price (meaning lowest) is now about 7.7 x 300 = US$2310.

 

To answer your question, I will be sitting happy and holding........no matter what happens this year, because I know that sometime there will be a day of reckoning.

 

------------------

 

Out of interest, a similar peak to the 1980 one would result in a price today (assuming no more money creation !) of US$6545/oz.

 

Link to comment
Share on other sites

The Precious Metals Gang Gathers By Dan Denning • January 7th, 2009

 

The stock market has almost become a sideshow to the story playing out in the bond and precious metals markets. But that's okay. The stock market is so divorced from reality at the moment that we believe it is failing to tell us anything really useful about what's ahead in 2009.

 

So what's ahead in 2009? Let us turn to the world's reserve currency and the last great bubble of the Bubble Epoch for answers.

 

First up, a U.S. dollar crash. Or should we say another U.S. dollar crash? In 2008, the dollar managed to trim some of its losses over the last five years. But with U.S. President elect Obama telling the world America will have trillion dollar deficits "for years to come," the greenback has an unprotected flank.

 

That flank is the bond market. With the supply of dollars and dollar-denominated debt set to explode, you'd expect the appetite for U.S. bonds to fall. And yesterday, it began to do just that. In December, 30-year U.S. bond yields were hovering at 2.51%. By the close of yesterday's action, they were above 3%.

 

Everyone and everyone's dog (and everyone's dog's feline foes) is calling for the popping of the bond bubble. Every fibre of our contrarian nature says to go against the crowd. After all, it seemed fairly obvious that the Nasdaq was in a bubble when tech stocks were selling at average price-to-earnings ratios of 100. And then the ratio doubled!

 

The point? A real bubble worthy of the name exceeds your expectations and just keeps going up. This prompts us to conduct a brief thought experiment. What could keep the Treasury bond bubble rising? Fed buying!

 

That's right. We know the Fed is trying to bridge the gap between government bond yields and mortgage rates. The Fed wants to make it easier for Americans to refinance into lower-rate mortgages, and thus heal the mortal weeping wound at the heart of the American economy. So it's been hacking away at the short-end of the yield curve, trying to bring mortgage rates down by proxy.

 

more

Link to comment
Share on other sites

If u put some credit in what Hoye, etc are saying in Frizzers latest podcast, then maybe buy silver at GM with the option to swap for gold (or other currencies) later.

Interesting. I just sold 15 ounces of bullion at the last peak in order to open an account with GM. Will have to listen to the latest CW podcasts [on holiday at the mo] before deciding on silver or gold [will want to keep this trading account very simple]. I want to buy what is most volatile so i can use that account to buy on dips and sell on peaks. it will also be a cash proxy account [have bullion mostly] so no great harm done if the price carries on upwards after selling into a currency. Due to the fact that I feel more comfortable with gold and know less about silver, at this stage I am thinking of swapping between gold and US dollars... but only very occasionally.

Link to comment
Share on other sites

Gold money-I've been trying last night and tonight to get CAP verified using the online method and I get an error message. Has anyone else used the online method? Is it just me being thick or does it not work?

 

Seems allot of hassel compared to BV.

I mailed the downloaded form back a few days ago. Waiting now to here back from GM. The biggest hassle was the certification process though that was not too much of a headache. My first bank could not be bothered with verifying my identity and sent me on my grumpy way but my the second bank were more than helpful. As soon as the GM account is activated will wire through funds, wait for POG to crash, then buy. :lol:

Link to comment
Share on other sites

surely they cant keep this game up much longer

 

IN FRAUD WE TRUST

 

Impending Whip-saw In Commodities

 

With commodities prices having fallen from their perches [actually, they were pushed] in recent months, a great deal of future and current output capacity of the extractive industries has been shuttered. One must wonder how well these industries will be able to respond to the upcoming deluge of dollars to be spent on infrastructure – which by nature is extremely demand intensive of the very things whose supplies are being curtailed?

 

Anticipate shortages and dramatically higher prices of key base-industrial-commodities going forward – likely to materialize in the second half of 2009.

 

Physical Metal – Fraud’s Achilles Heel

 

Some central banks (those of China, Russia, Iran and Venezuela) are actually buying physical gold to bolster their reserves. Perhaps you will take notice that countries that have a penchant for gold coincidentally are not viewed as America’s best friends. Ever wonder why?

 

Fondness for gold makes the dollar look bad. If you are America and are in the business of printing dollars to buy whatever you want, folks buying gold are raining on your parade, and if they do too much buying of gold, dollars can become worthless and not welcome in exchange for goods and services. (I would suggest that this is happening right now.)

 

JPMorgan Chase is the Federal Reserve in drag. It is Morgan Chase’s job to make sure that gold remains viewed as an unworthy means of wealth preservation, so that the biggest Ponzi scheme in the world stays viable — the U.S. government bond market.

 

Plunges of $200 in the gold market require FUEL.

 

JPMorgan Chase’s swelling of its gold derivatives book by $15 billion in three months [Q3 / 08] was undoubtedly the fuel. The implication here is that the Morgan Chase gold trader in the Comex pit “fireballed” the price of gold by selling dizzying amounts of paper gold [futures] over the period in question.

 

An incredible feat, in a world that is supposedly starved for capital, this institution somehow saw fit to take $15 billion in notional risk to short the living bleep out of gold.

 

Unless you live in a vacuum, you can only conclude that the Morgan Chase gold trader was INSTRUCTED to beat gold with a stick.

 

The instructors were Messrs. Paulson and Bernanke.

 

But in the end, just as physical shortages of staple goods – in the face of limitless money creation - will push prices higher; it will be the same where gold is concerned. This process is now underway with the fraudulent futures [paper] price of gold already decoupled from the cost of buying physical ounces. Continued fraudulent interventions only ensure that this sordid perversion ends sooner rather than later

Link to comment
Share on other sites

I mailed the downloaded form back a few days ago. Waiting now to here back from GM. The biggest hassle was the certification process though that was not too much of a headache. My first bank could not be bothered with verifying my identity and sent me on my grumpy way but my the second bank were more than helpful. As soon as the GM account is activated will wire through funds, wait for POG to crash, then buy. :lol:

 

In NZ ?

Police stations :D

 

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...