Pluto Posted February 15, 2009 Report Share Posted February 15, 2009 GM going bust will have very little direct affect on the Dow. The Dow is price weighted. At $2.50, GM is the cheapest stock in the Dow 30, so it will make the least difference to the Dow if it does bust. The FTSE + S&P500 are weighted by market capitalisation I understand, but the knock on effects from a GM bankruptcy will drop the dow by at least 1,000. There are 2M jobs in the US directly and indirectly associated with GM. Furthermore, there are circa 1M retirees receiving medical insurance and pensions from GM. This will be like a nuclear weapon going off. This will be felt from the Midwest right down to the Mexican border states and all in between. Link to comment Share on other sites More sharing options...
Pluto Posted February 15, 2009 Report Share Posted February 15, 2009 Bretton Woods died in 1971, when the US "suspended" gold/USD convertibility. Funny how they never reinstated it. They just replaced the gold in Fort Knox with F-16s in Saudi Arabia. This enabled dollar hegemony to limp along for another 30 odd years. Link to comment Share on other sites More sharing options...
FWIW Posted February 15, 2009 Report Share Posted February 15, 2009 http://thecomingdepression.blogspot.com/20...lly-out-of.html Saturday, February 14, 2009 Jim Sinclair: "It is totally out of control"! I sent you a certain few emails that I consider to be the most important communications issued in my career that started in 1958. I am the son of what I know to have been the greatest Lone Wolf trader in Wall Street history ever, Bertram J. Seligman. He was a past master at his business and believed to be a market sensitive. I apprenticed to him, learned from him and inherited some of his ability, not all however. From this background of experience understanding and sensitivity the following flows. The emails of note: 1. Said, "This is it." 2. Said, "It is now." This communication is to inform you as of 2/13/09, "It is totally out of control." There is no longer any means of reversal of the beginning of the final phase of the downward spiral now solidly set in motion. For your sake, protect yourselves immediately. Be prepared for disruptions in distribution common to hyperinflation. 1. You should have already distanced yourself from your financial agents. If you haven't you are headed for significant displeasure and strain. 2. Make sure you stay three months ahead on necessary items that could experience distribution delays such as prescribed medicine and preferred foods. 3. Even though real estate is far from a buy, if you can afford a second home outside of major cities it would serve a good purpose. 4. Own gold. 5. Consider that good gold shares of non-US companies incorporated in a non-US country operating in third country, traded on multiple exchanges are a means of money expatriation legally and in broad daylight if required. 6. For currencies, all you can do is own a spread held by a true custodial ship wherever that might be. Simply said, as of Friday February 13th, 2009 the situation is in confirmed "Out of Control" mode as this well engineered downward spiral enters into a terminal phase. The motive was profit and degree of the disintegration caused in the pursuit of this goal was not anticipated. The key event was when Lehman was flushed - all hell broke loose. The hell cannot be contained in any practical manner. I seek nothing of you but the protection of yourselves. Respectfully yours, Jim Link to comment Share on other sites More sharing options...
ecoface Posted February 15, 2009 Report Share Posted February 15, 2009 How do we know he is not ker or his buddy already Paranoid? Link to comment Share on other sites More sharing options...
Pixel8r Posted February 15, 2009 Report Share Posted February 15, 2009 Paranoid? Realist! Link to comment Share on other sites More sharing options...
Justin Thyme Posted February 15, 2009 Report Share Posted February 15, 2009 But don't delude yourself into thinking that we have been here before. Because one thing is for sure: we haven't. . . . and the truth shall set them free Link to comment Share on other sites More sharing options...
azazel Posted February 15, 2009 Report Share Posted February 15, 2009 LOL have you seen the infestation of gold threads on HPC? Many threads seem to go on to gold even if that wasnt the OT Link to comment Share on other sites More sharing options...
Wanderer Posted February 15, 2009 Report Share Posted February 15, 2009 i know what you mean but http://www.safehaven.com/article-12604.htm and another politician talking sense (and its not Ron Paul for a change) Ex PM of Australia taking sense - risk of US default Wow, that was a good interview when you think it was somebody who was a PM!! Paul, are you are member of GEI? If so, who? Stand up and be counted! If not, then we should make him an Honorary Member. I don't think I've ever seen a mainstream politician give such a well argued (and calm!) account of the economic situation. Hard to believe he has been out of a job for what, 12 years? Link to comment Share on other sites More sharing options...
ziknik Posted February 15, 2009 Report Share Posted February 15, 2009 Has anyone used Hatton Garden Metals? http://www.hattongardenmetals.com/ Link to comment Share on other sites More sharing options...
sine270 Posted February 15, 2009 Report Share Posted February 15, 2009 Seems to be a lot of 1oz gold coins for sale on ebay compared to a few weeks ago. Is there any kind of consensus on here as to how safe it generally is to buy gold on ebay? I sent bairds an email recently asking if they could sell me some 1oz bars but they didn't even reply? Anyone got any recent experience in buying bullion? Link to comment Share on other sites More sharing options...
thegeneral Posted February 15, 2009 Report Share Posted February 15, 2009 Has anyone used Hatton Garden Metals? http://www.hattongardenmetals.com/ I have, they are good. A lot of coins aren't new though, but in very good nick. Quick service Link to comment Share on other sites More sharing options...
azazel Posted February 15, 2009 Report Share Posted February 15, 2009 Seems to be a lot of 1oz gold coins for sale on ebay compared to a few weeks ago. Is there any kind of consensus on here as to how safe it generally is to buy gold on ebay? I sent bairds an email recently asking if they could sell me some 1oz bars but they didn't even reply? Anyone got any recent experience in buying bullion? Hi and welcome to GEI. I use http://www.coininvestdirect.com/main.php for most of my purchases and they are first class. The coins have been in good condition and delivery is reasonable and about a week. You can use their website as a reference for what the coins look like and the weights and the price which updates in almost realtime. Try comparing prices with ATS. Id recommend them too, but I prefer the conveinience of coininvest. Regarding ebay, Im ok buying sovereigns but ounce coins are a bit too high in value for me to use ebay for. I have just bought a krugerrand on ebay only because I had a paypal 10% voucher off. I havnt recieved it yet and Im slightly worried, although i paid on credit card using paypal so it should be insured. Link to comment Share on other sites More sharing options...
sine270 Posted February 15, 2009 Report Share Posted February 15, 2009 Hi and welcome to GEI. I use http://www.coininvestdirect.com/main.php for most of my purchases and they are first class. The coins have been in good condition and delivery is reasonable and about a week. You can use their website as a reference for what the coins look like and the weights and the price which updates in almost realtime. Try comparing prices with ATS. Id recommend them too, but I prefer the conveinience of coininvest. Regarding ebay, Im ok buying sovereigns but ounce coins are a bit too high in value for me to use ebay for. I have just bought a krugerrand on ebay only because I had a paypal 10% voucher off. I havnt recieved it yet and Im slightly worried, although i paid on credit card using paypal so it should be insured. Hi azazel. Thanks for the advice about coininvest and words of caution about ebay. Do you know if coininvestdirect accept debit cards over the phone so payment can be made immediately and coins sent out? I looked at ATS and they seem expensive. They wanted £510 for 20g bars. I'll go and have a look on the coininvest web site. Link to comment Share on other sites More sharing options...
qwertyuiop Posted February 15, 2009 Report Share Posted February 15, 2009 Hi azazel. Thanks for the advice about coininvest and words of caution about ebay. Do you know if coininvestdirect accept debit cards over the phone so payment can be made immediately and coins sent out? I looked at ATS and they seem expensive. They wanted £510 for 20g bars. I'll go and have a look on the coininvest web site. I've found CID very good on service. If you phone your bank and set up a CHAPS payment - the money will arrive the same day in their account. Link to comment Share on other sites More sharing options...
ziknik Posted February 15, 2009 Report Share Posted February 15, 2009 Hi azazel. Thanks for the advice about coininvest and words of caution about ebay. Do you know if coininvestdirect accept debit cards over the phone so payment can be made immediately and coins sent out? I looked at ATS and they seem expensive. They wanted £510 for 20g bars. I'll go and have a look on the coininvest web site. Buying through the website and paying by BACS transfer takes about 3-5 days. Delivery was around £12 last time I ordered. Link to comment Share on other sites More sharing options...
Compounded Posted February 15, 2009 Report Share Posted February 15, 2009 Buying through the website and paying by BACS transfer takes about 3-5 days. Delivery was around £12 last time I ordered. I paid by internet banking which is BACS (I did not know that prior) , I too was very happy with the service. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted February 15, 2009 Report Share Posted February 15, 2009 and another politician talking sense (and its not Ron Paul for a change) Ex PM of Australia taking sense - risk of US default Transcript Here: http://www.abc.net.au/lateline/content/2008/s2480345.htm Link to comment Share on other sites More sharing options...
sine270 Posted February 15, 2009 Report Share Posted February 15, 2009 Thanks guys. If the price doesnt shoot up tomorrow I'll probably place an order with CID for some philharmonikers which seem to be the cheapest for some reason. Link to comment Share on other sites More sharing options...
wren Posted February 15, 2009 Report Share Posted February 15, 2009 Buying through the website and paying by BACS transfer takes about 3-5 days. Delivery was around £12 last time I ordered. For purchases over 1000 euros delivery was free (don't know what it says when you pay in pounds). I've used CID several times and I am very happy with them. Place order using online shopping, an invoice arrives in your email within a day. Pay via internet banking (be sure to use their correct bank account depending on which currency you are paying in). They send a confirmation email that they have received the money and a courier delivers your stuff a few days later. Link to comment Share on other sites More sharing options...
azazel Posted February 15, 2009 Report Share Posted February 15, 2009 gold gone up over £200 per kg on opening due to drop in sterling 1.44-142 Link to comment Share on other sites More sharing options...
sine270 Posted February 15, 2009 Report Share Posted February 15, 2009 For purchases over 1000 euros delivery was free (don't know what it says when you pay in pounds). I've used CID several times and I am very happy with them. Place order using online shopping, an invoice arrives in your email within a day. Pay via internet banking (be sure to use their correct bank account depending on which currency you are paying in). They send a confirmation email that they have received the money and a courier delivers your stuff a few days later. Excellent, thanks. Thats what I was hoping to find out. I've got to say, I'm well impressed with the helpfullness of you guys on GEI Link to comment Share on other sites More sharing options...
nicejim Posted February 15, 2009 Report Share Posted February 15, 2009 I have, they are good. A lot of coins aren't new though, but in very good nick. Quick service That's good to hear. They seem to be the cheapest whenever I look but I've been buying silver lately. I'll give those guys a go when I next get some sovs. Link to comment Share on other sites More sharing options...
nicejim Posted February 15, 2009 Report Share Posted February 15, 2009 I've not seen these posted but think they might be of interest. http://gata.org/node/7166 China said sticking with U.S. bonds despite depreciation "Except for US Treasuries, what can you hold?" he asked. "Gold? You don't hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option." Mr Luo, whose English tends toward the colloquial, added: "We hate you guys. Once you start issuing $1 trillion-$2 trillion . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do." That reminds me of "it's our currency but it's your problem." http://gata.org/node/7171 China bank regulator clarifies, says U.S. bonds are not only option China Banking Regulatory Commission official Luo Ping said holding U.S. government bonds is not the only option for investing reserves, clarifying comments made a day earlier, the China News Service reported. Hmmm...but he was negative on the other alternatives, except for gold. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 15, 2009 Author Report Share Posted February 15, 2009 This is how the gold spike in January 1980 looked like in todays (RPI-adjusted) pounds: http://gold.approximity.com/1979-1980/RPI-adj_Gold_GBP.html Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 16, 2009 Report Share Posted February 16, 2009 This is how the gold spike in January 1980 looked like in todays (RPI-adjusted) pounds: http://gold.approximity.com/1979-1980/RPI-adj_Gold_GBP.html I assume this uses the official RPI numbers. I would like to see the same thing repeated with the ShadowStats numbers for GoldUS$. People like Robert Shiller appear to stick to the official numbers. I understand why, but it gives a false impression. ie the gold price now should be a lot lower. Link to comment Share on other sites More sharing options...
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