Wanderer Posted February 11, 2009 Report Share Posted February 11, 2009 Not too shabby at all. With apologies to the buy and hold team, I wish I had the courage of my convictions on trading the medium swings. Greatly enjoying this ride though! Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 11, 2009 Report Share Posted February 11, 2009 HPC should be closed down IMO. http://www.housepricecrash.co.uk/forum/ind...0&start=780 +2 I have not read any of this thread, but this is a good post. Sibley should be de trollified, FP should be issued appologies where necessary and the GOLD thread should be reinstated and Goldfinger and CGNAO should be sent emails begging for their return. Link to comment Share on other sites More sharing options...
warpig Posted February 11, 2009 Report Share Posted February 11, 2009 Nice legs on gold/GBP today, quite some volatility over the last few days. Link to comment Share on other sites More sharing options...
headmelter Posted February 11, 2009 Report Share Posted February 11, 2009 I have just rfecieved a pm from you on hpc. I assume it's you do you still need the hpc gold thread link ? I ask as I am sitting downstairs & this will involve me going upstairs onto my other lappy, as it's on my favs on that one...... edited - god, I need to get out today & get some work done, & off this fooken lappy. :unsure: 'Twas me. Thanks I found it. It was actually the poll I started yesterday I was looking for. The Mods moved it and put it in a forlorn sub forum headed 'About housepricecrash.co.uk'. It just took me a while to find it. Link to comment Share on other sites More sharing options...
azazel Posted February 11, 2009 Report Share Posted February 11, 2009 Im gonna have a little party while cgnao not around. brb Link to comment Share on other sites More sharing options...
electroweak Posted February 11, 2009 Report Share Posted February 11, 2009 Im gonna have a little party while cgnao not around. brb If Gold breaks the top of this ascending triangle and shoots up, I'll join you.. EDIT and just then , the IMF says no change to plans to sell 400 Tonnes of gold.. hmm.. what excellent timing. Link to comment Share on other sites More sharing options...
azazel Posted February 11, 2009 Report Share Posted February 11, 2009 If Gold breaks the top of this ascending triangle and shoots up, I'll join you.. EDIT and just then , the IMF says no change to plans to sell 400 Tonnes of gold.. hmm.. what excellent timing. http://www.mineweb.net/mineweb/view/minewe...8&sn=Detail I thought they did NOT need to sell their gold. You trying to upset my party? They are lying anyway, cried wolf too many times. Link to comment Share on other sites More sharing options...
tl8177 Posted February 11, 2009 Report Share Posted February 11, 2009 Im gonna have a little party while cgnao not around. brb Yes, high five to those 100% protected in the GEI gold bunker Link to comment Share on other sites More sharing options...
electroweak Posted February 11, 2009 Report Share Posted February 11, 2009 http://www.mineweb.net/mineweb/view/minewe...8&sn=Detail I thought they did NOT need to sell their gold. You trying to upset my party? They are lying anyway, cried wolf too many times. hmm.. maybe i misheard that one. my bad.. Anyway, it has been a good day. Very distracting though! Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 11, 2009 Author Report Share Posted February 11, 2009 http://www.housepricecrash.co.uk/forum/ind...0&start=780 Sibley should be de trollified, FP should be issued appologies where necessary and the GOLD thread should be reinstated and Goldfinger and CGNAO should be sent emails begging for their return. I might post on a reinstated gold thread on housepricemuppets.co.uk if there was a guarantee of no censorship. The first thing I would do is tell people to have a look at GEI every now and then. Link to comment Share on other sites More sharing options...
alexreeve Posted February 11, 2009 Report Share Posted February 11, 2009 I might post on a reinstated gold thread on housepricemuppets.co.uk if there was a guarantee of no censorship. The first thing I would do is tell people to have a look at GEI every now and then. Why? Screw them, GEI is so much better. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 11, 2009 Author Report Share Posted February 11, 2009 Why? Screw them, GEI is so much better. Winding up cells and RB is fun. But GEI is now my home forum-wise. Link to comment Share on other sites More sharing options...
electroweak Posted February 11, 2009 Report Share Posted February 11, 2009 Seriously, this BS game played by the IMF p***es me off. Reminding the world you're going to sell 400Tonnes of gold you don't have in most-likely private sale to China JUST at the 6 1/2 month high (to the second, practically... !) PRECIOUS-Gold rises to 6-1/2 mth high on investment demand 11 Feb 2009 - 20:55 * Bullion reaches highest level since July 2008 * U.S. bank rescue plan disappoints * SPDR ETF holdings rise to fresh record (Recasts, updates with quotes, closing prices, adds NEW YORK to dateline) By Frank Tang and Jan Harvey NEW YORK/LONDON, Feb 11 (Reuters) - Gold jumped 3 percent to a 6-1/2 month high on Wednesday as risk aversion prompted investors to buy gold and bullion-backed exchange-traded funds as a safe haven. Caesar Bryan, portfolio manager of the $350-million GAMCO Gold Fund, said the rally was a "catch-up" move from the previous session when disappointing investors sold stocks after the U.S. government unveiled a massive U.S. bank rescue plan. "There has been a step-up in investment demand as evidenced by the GLD," said Bryan, referring to the world's largest gold ETF SPDR Gold Trust , which has since the beginning of the year jumped about 115 tonnes to 895 tonnes as of Feb. 10. Spot gold was at $939.75 an ounce at 3:15 p.m. EST (2015 GMT), up 2.8 percent from the last trade $914.15 late on Tuesday. Spot bullion prices pushed through tough resistance at just above $930, spiking to a peak of $953.30 in ultra thin volume after the London trading session ended. U.S. gold for April delivery settled up $30.30, or 3.3 percent, at $944.50 an ounce on the COMEX division of the New York Mercantile Exchange. "There was a lot of disappointment behind the package, either because the measures weren't concrete enough or because they thought they hadn't tackled the root cause of the problem," said BNP Paribas analyst Michael Widmer. "A lot of investors reassessed the risk in the market, and as risk aversion increased, it helped prices." The United States on Tuesday rolled out a revamped bank rescue plan that may cost more than $2 trillion. Stocks slid by the most in two months after the plan was unveiled, while gold climbed 2 percent as investors sought safety. [iD:nLB416912] CMC Markets strategist Ashraf Laidi said doubts about the U.S. plan to shore up banks and the economy had led to fears of an escalation of debt issuance. "This combination of further debt escalation with a lack of any economic result is further fortifying gold's ascent," he said. In official gold sector news, the International Monetary Fund said it does not intend to alter plans to sell just over 400 tonnes of gold to fund changes to its financing base Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 11, 2009 Report Share Posted February 11, 2009 Winding up cells and RB is fun. But GEI is now my home forum-wise. I have posted a couple of dollar toilet paper posts but he hasn't replied. It was in response to a few posts he put up about gold being the next bubble to burst. Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 11, 2009 Report Share Posted February 11, 2009 Winding up cells and RB is fun. But GEI is now my home forum-wise. did you see RB's prediction a while back said that gold might go down to $300 by the end of 2008? :lol: Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted February 11, 2009 Report Share Posted February 11, 2009 did you see RB's prediction a while back said that gold might go down to $300 by the end of 2008? :lol: RB Ker Prechter anyone else to add Prechters been busy lately pushing his deflation idea - just cant see it myself - the stimulus and bailouts will get bigger and bigger Link to comment Share on other sites More sharing options...
Crashman begins Posted February 11, 2009 Report Share Posted February 11, 2009 Hey all, Ive got a few questions regarding holding PM's. If there was going to be confiscation of PM's as in the 1930's and you held pm's in the UK. What would be your options ? How would confiscation be administered ? Link to comment Share on other sites More sharing options...
InternationalRockSuperstar Posted February 11, 2009 Report Share Posted February 11, 2009 Hey all, Ive got a few questions regarding holding PM's. If there was going to be confiscation of PM's as in the 1930's and you held pm's in the UK. What would be your options ? How would confiscation be administered ? http://www.fgmr.com/confiscation.htm After the confiscation announcement, only 3.9 million ounces of gold coin - approximately 21.9% of the gold coin then in circulation - were turned in. Subsequently, the government no longer reported this statistic as it assumed, according to Friedman and Schwartz, that these gold coins were "lost, destroyed, exported without record, or…in numismatic collections". After analyzing in some detail each possibility noted in the government's contention that ostensibly explained why all these gold coins remained outstanding after the confiscation, Friedman and Schwartz go on to say: "We therefore concluded that in Jan. 1934 the bulk of the [13.9 million ounces] was retained illegally in private hands." Link to comment Share on other sites More sharing options...
sash777 Posted February 11, 2009 Report Share Posted February 11, 2009 Very good read, thanks. The prospect of confiscation could become very very real and in such a case those of us who are heavily weighted in GM or BV must be wary at all times. Link to comment Share on other sites More sharing options...
dst Posted February 11, 2009 Report Share Posted February 11, 2009 A 7min video about people panning for gold to survive in Zimbabwe. 0.1 gram for a loaf of bread. Zimbabwe - gold for bread MDC activist Sam Chakaipa returns to his village in rural Zimbabwe to find his friends and neighbours starving to death, reduced to panning gold powder from the rivers to exchange for food at an exorbitant rate http://www.guardian.co.uk/world/video/2009...starvation-food (From a GHPC thread) Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 11, 2009 Author Report Share Posted February 11, 2009 Hey all, Ive got a few questions regarding holding PM's. If there was going to be confiscation of PM's as in the 1930's and you held pm's in the UK. What would be your options ? How would confiscation be administered ? There would not be a confiscation. In the worst case, there would be a forced sale to government at current prices, in which case you would buy a tangible asset (like a house, silver or oil) if inflation was not under control by the time. I do not think it will happen. I think one day a little bit of these trillions will be used by the central banks to buy gold. The price will double, and then double again, and they have reached two goals: their gold assets are revalued at realistic levels so that they are not bankrupt anymore, and they have more of those assets because of their purchase. Link to comment Share on other sites More sharing options...
qwertyuiop Posted February 11, 2009 Report Share Posted February 11, 2009 I do not think it will happen. I think one day a little bit of these trillions will be used by the central banks to buy gold. The price will double, and then double again, and they have reached two goals: their gold assets are revalued at realistic levels so that they are not bankrupt anymore, and they have more of those assets because of their purchase. I definitely think gold is going to figure somewhere in a solution. Personally, I had the idea that gold would be reliquished by debtors nations and its price revalued upwards - as a way to deal with sovereign debt. Link to comment Share on other sites More sharing options...
tl8177 Posted February 11, 2009 Report Share Posted February 11, 2009 There would not be a confiscation. In the worst case, there would be a forced sale to government at current prices, in which case you would buy a tangible asset (like a house, silver or oil) if inflation was not under control by the time. I do not think it will happen. I think one day a little bit of these trillions will be used by the central banks to buy gold. The price will double, and then double again, and they have reached two goals: their gold assets are revalued at realistic levels so that they are not bankrupt anymore, and they have more of those assets because of their purchase. Yes, I agree. There might be forced sale if there was return to gold standard and the government wanted to gold and everyone was stashing it. But would you be interested in holding gold if we were back on gold standard? Link to comment Share on other sites More sharing options...
romans holiday Posted February 11, 2009 Report Share Posted February 11, 2009 A 7min video about people panning for gold to survive in Zimbabwe. 0.1 gram for a loaf of bread. http://www.guardian.co.uk/world/video/2009...starvation-food (From a GHPC thread) Sobering stuff. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 11, 2009 Author Report Share Posted February 11, 2009 ... EDIT and just then , the IMF says no change to plans to sell 400 Tonnes of gold.. hmm.. what excellent timing. http://goldismoney.info/forums/showpost.ph...postcount=25338 GATA: So are you going to sell your Gold then? IMF: No. GATA: Why not? IMF: We don't need to because we can lend to these broke nations. GATA: But weren't you going to sell it because you were short of funds? IMF: No, we are not, and have never been short of funds. GATA: Well why were you going to sell it then? IMF: Because Gold is a useless relic of a bygone age. GATA: Then why not sell it now? IMF: Because we need it as a financial insurance. GATA: So why were you going to sell it last year during the crisis? IMF: No, were were never going to sell our Gold. GATA: OK then... So how much do you have anyway? IMF: Oh, about 400 tons. GATA: Can we see it? IMF: No. GATA: Can we then at least see some proof you actually have this Gold? IMF: No. GATA: Why not? IMF: It's a secret. GATA: What's a secret? IMF: Not telling. Link to comment Share on other sites More sharing options...
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