G0ldfinger Posted February 25, 2009 Author Report Share Posted February 25, 2009 This is co-ordinated intervention in all markets and is a desperate, futile attempt to delay the inevitable. ... Hey cg, I agree on that one. I also think that the idea that gold MUST sell of every time it reaches $1,000 will go horribly, horribly wrong one nice & sunshiny day. Some people who gambled and got out will then be waiting for a re-entry point forever, and they will possible get Weimarized shortly afterwards with all their STR funds. Trading this market is too risky IMHO. Steamroller, nickels, etc. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted February 25, 2009 Report Share Posted February 25, 2009 the Up Down Up Down analysis show, presented by Dave. makes sure you check out double agents post above. You couldn't make this sh1t up, as Pluto would say. Link to comment Share on other sites More sharing options...
UNSHURE Posted February 25, 2009 Report Share Posted February 25, 2009 Hey cg, I agree on that one. I also think that the idea that gold MUST sell of every time it reaches $1,000 will go horribly, horribly wrong one nice & sunshiny day. Some people who gambled and got out will then be waiting for a re-entry point forever, and they will possible get Weimarized shortly afterwards with all their STR funds. The idea of 'getting weimarized' has always been at the back of my mind. I am hoping, that in two or three years time, I will be able to cash my gold in and buy, or part pay for, a decent house. The problem I see is that, if we get into hyperinflation, how can this be done? As soon as the gold is converted to money it would be devaluing (assuming big inflation). Since a property deal takes time to go through, it may be diffcult. Does anyone think that it would be possible to a do a direct deal - property for gold? It would benefit both parties. Has anyone any other ideas about how this could work? Another question, if we head into hyperinflation, would be when to sell Gold ETF's. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 25, 2009 Report Share Posted February 25, 2009 the Up Down Up Down analysis show, presented by Dave. makes sure you check out double agents post above. You couldn't make this sh1t up, as Pluto would say. :lol: Thats the funniest thing I have seen on here in weeks. Link to comment Share on other sites More sharing options...
romans holiday Posted February 25, 2009 Report Share Posted February 25, 2009 Re the 'Trade' or 'Buy and Hold' debate, I have a great desire to see a plurality of views on here. I think one thing that affects 'where you stand' is 'where you sit'. If you have PMs that represent say, 10% of your annual income or less, then perhaps 'buy and hold' is the best strategy since dealing costs are likely to wipe any gains. The risk that you miss out on a ride up is significant (especially if you aren't fortunate enough to be well placed financially to begin with - and that, largely, is due to luck). On the other hand, if you are a STR and have PMs that represent perhaps even multiple times your annual income (from your day job) then you are lucky enough to be well place financially and can afford the risk of trading: since a 20% move in the cost of gold might be your annual salary. I'm not knocking anyone here, I'm simply trying to understand people's propensity to trade and thus to better weigh their advice. Wanderer What I find helpful about trading a smaller percentage of my bullion is that I do not care which way the price goes short term. I find it takes the emotion out of the gold moves whether they are up or down. If it goes up jolly good, confirmation of my investment strategy and time to sell a little. If it goes down jolly good also, can add to my position with the little previously sold. That's the theory anyway... have yet to realise it in practice. I am watching this dip carefully with itchy fingers. This trade is strictly speaking not trading gold but trading US dollars; I must be convinced that gold is eventually going higher [and the dollar lower] and I must look to take profits in ounces and I should use a smaller percentage of my holding. The other bonus to this trade is my wages can go elsewhere to hedge against the possibility my convictions are wrong.............................. like silver. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 25, 2009 Report Share Posted February 25, 2009 Another question, if we head into hyperinflation, would be when to sell Gold ETF's. Now would be the answer. Physical all the way. Link to comment Share on other sites More sharing options...
Pixel8r Posted February 25, 2009 Report Share Posted February 25, 2009 "I don't see any problem with trading personally. As long as you keep yourself covered with a hefty core position. We are pretty much on this forum all in agreement that gold is going much much higher in the long term" UNQUOTE Let me disagree here with anyone who thinks GOLD MUST KEEP GOING UP. If you failed to lighten up in that rally to the $1,000 Double Top, you may soon regret it. I dont read this thread everyday, but there's seem to be too much agreement here. You are all in danger of getting caught by GROUP THINK. Try to keep an open mind, and check out other parts of this website, like DrB's Diary from time-to-time I also so try to keep an open mind, but have been looking at the negative real interest rates and the dow/gold ratio. I think we may drop for a while, but feel safer holding gold/silver than cash at the moment. I would agree it may be time to lighten up on the gold shares though, i have recently. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 25, 2009 Author Report Share Posted February 25, 2009 The idea of 'getting weimarized' has always been at the back of my mind. I am hoping, that in two or three years time, I will be able to cash my gold in and buy, or part pay for, a decent house. The problem I see is that, if we get into hyperinflation, how can this be done? As soon as the gold is converted to money it would be devaluing (assuming big inflation). Since a property deal takes time to go through, it may be diffcult. ... You would just make a GoldMoney payment i.e. an instantaneous transfer of physical gold or silver. Link to comment Share on other sites More sharing options...
goldenbee Posted February 25, 2009 Report Share Posted February 25, 2009 Hmm, I'm not happy about this one... now down 26 and no sign of slowing. I hate volatility! Yes, volatility is unsettling but I've lost faith in paper, banks, governments etc. Gold is incorruptible and that gives me peace of mind when it's value drops. Link to comment Share on other sites More sharing options...
njpurser Posted February 25, 2009 Report Share Posted February 25, 2009 You would just make a GoldMoney payment i.e. an instantaneous transfer of physical gold or silver. That's my plan too. A house would be the obvious choice of asset...err...! Housing costs saved would effectively be investment income-say 500-1000 pounds (compound) monthly interest. Life free of housing costs, hmmm. Problem is liquidity if migration is needed. Can anyone else suggest a better strategy? Bunds when rate 2% over inflation, would this be better than minimising housing expenses I wonder. (Cg suggested ) Nick Link to comment Share on other sites More sharing options...
Steve Netwriter Posted February 25, 2009 Report Share Posted February 25, 2009 Road to Ruin: Final stretch A bull market in chaos by Eric Janszen (February 23, 2009) http://www.itulip.com/forums/showthread.ph...78579#post78579 If you look back over the dozens of articles and newsletters published by us years before this crisis, warning you about it, you will find that they describe events developing more slowly and less dire than the actual events that transpired with astonishing speed. In short, while we have been accused of making overly apocalyptic forecasts we were, in the event, overly optimistic. What if we still are? We are getting a 1930 to 1933 financial system and debt deflation collapse but in Internet time. The Internet that operated so efficiently for ultra efficient transmission of pricing information and execution of transactions is accelerating the financial and economic crisis process far more quickly than governments can respond to it. A 20th century international regulatory and trade institutional framework is no match for 21st century computer networked financial markets. No administration can correct 30 years of errors in a few months. Unfortunately, a few months is all we have because of the accelerated rate of change we are experiencing. History teaches us that adjustments to imbalances can be sudden and brutal, and we think it imprudent to bet that the mother of all international payments imbalances -- between the US and the rest of the world -- will be the exception. The rise of gold from $260 to $700 in six years followed by an increase from $700 to $1000 in two years may be quickly followed by a rise from $1,000 to $5,000 in just a few months. In other words, our forecast of gold at $2,500 and the DOW at 5,000 may be as prosaic as our other seemingly dire forecasts because our perception of the rate of change and extent of the financial system, economic, and political crisis has been too optimistic. Our primary concern at this stage is no longer our readers' portfolios but their ability to weather a US dollar crisis if one erupts. In response, we are increasing our gold allocation to 30% and moving all Treasury holdings to the very shortest maturities, to three month Treasury bills, until we see indications that conditions are stabilizing. We encourage you to engage with the community to actively discuss strategies that are appropriate for you. Link to comment Share on other sites More sharing options...
lupercal Posted February 25, 2009 Report Share Posted February 25, 2009 http://www.telegraph.co.uk/finance/persona...our-months.html Gold investors make 120pc return in four months Private investors who have bought exchange traded funds that track the performance of gold miners have more than doubled their money since October last year. Main-stream ramping. Link to comment Share on other sites More sharing options...
azazel Posted February 25, 2009 Report Share Posted February 25, 2009 I hope those with the nerve to trade have got back in. Last time I tried to trade I nearly made myself sick. I too chicken! Link to comment Share on other sites More sharing options...
curious1 Posted February 25, 2009 Report Share Posted February 25, 2009 That's some volatility going on right there! Link to comment Share on other sites More sharing options...
warpig Posted February 25, 2009 Report Share Posted February 25, 2009 It probably doesn't need saying, but any information you relay on this level is greatly received by all. Thanks. This is co-ordinated intervention in all markets and is a desperate, futile attempt to delay the inevitable. The onrushing monetary holocaust is global, can't be halted and will result in the annihilation of the purchasing power of ALL national currencies, unprecedented contraction of economic activity, dramatic reduction of standards of living worldwide, mass revolts, breakdown of law and order, possibly war and certainly a return to the gold standard by popular demand. This is all you need to know and is 100% correct, guaranteed, relentless and unavoidable. Link to comment Share on other sites More sharing options...
gwizzie Posted February 25, 2009 Report Share Posted February 25, 2009 This is co-ordinated intervention in all markets and is a desperate, futile attempt to delay the inevitable. The onrushing monetary holocaust is global, can't be halted and will result in the annihilation of the purchasing power of ALL national currencies, unprecedented contraction of economic activity, dramatic reduction of standards of living worldwide, mass revolts, breakdown of law and order, possibly war and certainly a return to the gold standard by popular demand. This is all you need to know and is 100% correct, guaranteed, relentless and unavoidable. You know what...that is the only thing out of all that list which i'm afraid of. Link to comment Share on other sites More sharing options...
G0ldfinger Posted February 25, 2009 Author Report Share Posted February 25, 2009 Someone having a go at gold again. Link to comment Share on other sites More sharing options...
dopamine Posted February 25, 2009 Report Share Posted February 25, 2009 Interesting that we see such volatility mere weeks after ML and another few investment banks (?Goldman Sachs) ramped gold to private investors, saying it would definitely hit $1000 again and uprating their prediction of average 2009 price - a story that was widely covered in the mainstream financials. They make money on the way up and down and engineering short term moves in the only asset many private investors perceive as safe at the moment is a spiffing wheeze to add a few Ks onto the balance sheet. Obviously one day it will catch them out, but then they're f***** anyway. Link to comment Share on other sites More sharing options...
seekingclarity Posted February 25, 2009 Report Share Posted February 25, 2009 Someone having a go at gold again. USD946.2 Link to comment Share on other sites More sharing options...
Pluto Posted February 25, 2009 Report Share Posted February 25, 2009 USD946.2 As I said yesterday..1000 is the line in the sand for the bankers. Could go sub 900 to shake out all the nervous nellies. Bank stocks on a tear again. Obama speech didn't do the trick, so they are hitting all markets at once, to try and please their Chinese masters who they are borrowing from. Link to comment Share on other sites More sharing options...
azazel Posted February 25, 2009 Report Share Posted February 25, 2009 Third attempt will breach $1000 as Jim Sinclair said? Link to comment Share on other sites More sharing options...
ziknik Posted February 25, 2009 Report Share Posted February 25, 2009 Someone having a go at gold again. I hope they are having a go at silver too. I’ve made a killing on the Dow and need to get it in to GM BTW, GoldMoney process incoming money within a couple of hours. No more waiting around for days Link to comment Share on other sites More sharing options...
Ret45 Posted February 25, 2009 Report Share Posted February 25, 2009 I hope they are having a go at silver too. I’ve made a killing on the Dow and need to get it in to GM BTW, GoldMoney process incoming money within a couple of hours. No more waiting around for days i just bought a few coins, so price is certain to drop have been waiting for a dip to buy for weeks now and it has just been going up. the way things are going, maybe we don't have the luxury of a lot of time before physical gold starts becoming hard to find. Cgnao has been the most accurate forecaster to date, bar none! That's a scary thought and the rational "things will eventually return to normal" part of me is fading fast! Link to comment Share on other sites More sharing options...
drbubb Posted February 26, 2009 Report Share Posted February 26, 2009 I WILL KEEP DOING my warning thing... On DrB's Diary I'm bullish on PMs and gold stocks (especially juniors for the increased upside potential) in the mod to long term. . . Also, I'm bullish on commodities in the medium to long term. Oil and Oil services . . I'm also interested in copper, uranium and other commodities. Careful. If we get a major market turn in a week or so, We may see a big run in other stocks (Tech, for example), at the expense of Gold & gold stocks. Many here on GEI are not expecting this, and they may get hammered. The inability of Gold to hold its gains yesterday, could be a warning of what's ahead Here, and on a new thread The idea of 'getting weimarized' has always been at the back of my mind. I am hoping, that in two or three years time, I will be able to cash my gold in and buy, or part pay for, a decent house. The problem I see is that, if we get into hyperinflation, how can this be done? As soon as the gold is converted to money it would be devaluing (assuming big inflation). Since a property deal takes time to go through, it may be diffcult. ... I do see postings like this here and elsewhere. The thinking that a big surge inflation will be good for property owners is just plain wrong. The problem is that if inflation surges so will interest rates, and that will kill most of the profit potential. The real profits wiull come AFTER the inflation surge, when rates start coming down. You need to run the numbers carefully, and think thru the steps clearly to see what I mean. Unfortunately, most people are not doing that. Perhaps I should start a thread on this critical concept. Link to comment Share on other sites More sharing options...
warpig Posted February 26, 2009 Report Share Posted February 26, 2009 The thing is, most who contribute to this thread don't mind if gold gets a hammering, certainly in my mind it will be temporary and I don't trade my holdings anyway. If you have a walked through example of when to buy I think it would be of interest to most people here. You need to run the numbers carefully, and think thru the steps clearly to see what I mean. Unfortunately, most people are not doing that. Perhaps I should start a thread on this critical concept. Link to comment Share on other sites More sharing options...
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