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My opinion is this:

 

1930 (the Great Depression) was obviously a walk in the park to what we are facing now. Hence things will be more extreme. This applies to deflationary aspects as well as to inflationary aspects. The deflationary forces today are possibly dimensions larger than in 1930, but so are the money spigots. I therefore think that we can see a sell-off in markets similar to 1929-1932, at the same time consumer prices might soon go up, and even more so could gold go up.

Will you still want to buy a house? The goldbugs should buy a gated community. I was thinking the Jersey.

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http://jsmineset.com/index.php/2009/03/03/jims-mailbox-89/

What good is gold in the "mayo" jar going to do for use if it will be a criminal offense (prison time) to hold and sell gold privately?

 

...

My own view is simply – “Why would the feds need our gold?”

 

The US Dollar is no longer on a gold standard of any type and therefore the Feds do not need any gold to ramp up dollar printing. Once upon a time, that was the case; it no longer is. They can create unlimited amounts of dollars with their electronic printing press – Bernanke as much as said this exact thing not too many years ago.

 

I am of the opinion that the Feds will at some point bring gold back into the monetary system in order to save the dollar but that will be done by a revitalized gold certificate ratio clause as Jim has mentioned many times on the site. In order for that to be effective, they will be forced to upwardly revalue their current gold price which is officially valued at the ridiculous price of $42 /ounce. The price will rise high enough to balance out the Federal Government’s outstanding obligations which at the rate they are increasing, means a substantially higher gold price. When that occurs, the price of gold will no longer be free floating in the sense that it is today but it will be more or less a type of floating peg for lack of a better phrase. That means it will oscillate around a set price by maybe $100 or so either way or a bit more depending on its level at the time.

 

When that does happen, it will be time to sell your gold if you are so inclined.

 

Gold goes through both bear markets and bull markets but when this bull market is over, the price of gold will not collapse like it did back when the last great bull ended in 1980.

 

Best,

Trader Dan

 

PS if you are still worried, then I would suggest you buy silver instead

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http://news.bbc.co.uk/2/hi/americas/7920895.stm

 

 

 

Something sad about this.... I don't know what exactly.

 

"Erin pays about 60% of the market price, and then sells the gold in bulk to a refinery for about 95% of the going rate.

So the refinery pays below market rates, Erin makes a profit and, at more than $900 (£640) an ounce, the guests feel like they are getting money for nothing.

Here, at least, gold parties are not a way to make ends meet. They offer easy liquidity for the cash-strapped middle-classes."

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US dollars is the only significant price for gold now.

 

This is the exact attitude I'm baffled by. This is only true if you only have USD to buy with, and you're only interested in selling in USD.

 

If (say) you have a bank account full of fast-depreciating GBP, and you decide you want to buy gold, then later sell, perhaps to buy a house (priced in GBP), then then *only* price which matters is gold in GBP, at the time(s) you buy and the time you sell.

 

It seems to me that (unless you want to trade the swings in USD) obsessing over the price in USD is just a distraction for those not buying/selling in that currency.

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This is the exact attitude I'm baffled by. This is only true if you only have USD to buy with, and you're only interested in selling in USD.

 

If (say) you have a bank account full of fast-depreciating GBP, and you decide you want to buy gold, then later sell, perhaps to buy a house (priced in GBP), then then *only* price which matters is gold in GBP, at the time(s) you buy and the time you sell.

 

It seems to me that (unless you want to trade the swings in USD) obsessing over the price in USD is just a distraction for those not buying/selling in that currency.

It's not entirely baffling; look at a long term ~20year 'high-low-close' chart in GBP and USD. You can clearly see there that the volatility of GOLDUSD is lower than GOLDGBP. You can of course use this volatility to your advantage; like me buying at $939 this week; but when the pound was afew % higher vs the USD... I could see it entirely possible we have major drop in te GBP so I was looking for an uptick in GBPUSD at a low-ish point in GOLDUSD.

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It's not entirely baffling; look at a long term ~20year 'high-low-close' chart in GBP and USD. You can clearly see there that the volatility of GOLDUSD is lower than GOLDGBP. You can of course use this volatility to your advantage; like me buying at $939 this week; but when the pound was afew % higher vs the USD... I could see it entirely possible we have major drop in te GBP so I was looking for an uptick in GBPUSD at a low-ish point in GOLDUSD.

 

 

For those of you who need some help on 'seeing' why getting rid of your GBP for gold is a no brainer, here is a chart:

 

fmqj2v.jpg

 

Is the trend 'your' friend?

 

Also Jim Rogers explains it very well here: http://link.brightcove.com/services/player...tid=14510970001

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For those of you who need some help on 'seeing' why getting rid of your GBP for gold is a no brainer, here is a chart:

 

fmqj2v.jpg

 

Is the trend 'your' friend?

 

Also Jim Rogers explains it very well here: http://link.brightcove.com/services/player...tid=14510970001

Great chart FW. Yep, if I had pounds I wouldn't be sitting on them but would put them straight into gold. That is what I did with both the NZ dollars and the Korean won I had [which may both be giving Stirling a run for its money in the worst performing currency stakes]. As it is, the only significant price for those who want to trade the volatility a little is the US dollar one which is why I moved my trading funds into them at the start of the year.

 

The US dollar is also significant for gold in another more macro way. As long as it stays strong, gold will be relatively contained within a volatile range. Once the dollar weakens it is game over.

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Can anyone help? I want to transfer my small personal pension, which I've had for 10 years now,out of stocks and shares and into precious metals (physical if poss). Can anyone point me in the direction of an investment co that will do this? I'm not having alot of luck on google.

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Can anyone help? I want to transfer my small personal pension, which I've had for 10 years now,out of stocks and shares and into precious metals (physical if poss). Can anyone point me in the direction of an investment co that will do this? I'm not having alot of luck on google.

For pensions, I have heard GM do SIPPs if you are in the UK:

http://goldmoney.com/en/gold-sipp.html

 

This, I think is pssibly the closest you'd get to physical, because we cant have people actually having their pension assets in their hands, can we!?

 

Also People like Hargreaves Lansdown do SIPPs and you could stick it in a physical ETF there, but I would not advise this!! (see ETF threads)

 

 

 

 

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Can anyone help? I want to transfer my small personal pension, which I've had for 10 years now,out of stocks and shares and into precious metals (physical if poss). Can anyone point me in the direction of an investment co that will do this? I'm not having alot of luck on google.

 

Hi Springer

 

If you are UK-based, is now really the best time to do this WRT exchange rates? How about averaging in over the summer doldrums?

Just my opinion, as always do you own research

 

 

 

 

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Interesting Article -

 

The gold market is undergoing radical change with investments in Europe and US taking a lead over the traditional market – Jewelry in India

 

http://seekingalpha.com/article/124021-how...ect-gold-prices

 

Intersting to see the investment demand in Europe , USA , Thailand and China - Europe being the most - I would expect that the US and China investment demand will increase ?

 

 

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Hi Springer

 

If you are UK-based, is now really the best time to do this WRT exchange rates? How about averaging in over the summer doldrums?

Just my opinion, as always do you own research

 

Thanks Diet Cola,

I'm a complete pension virgin so I am learning as I go. I was assuming I would have to transfer all funds in one go, I have not done enough research yet and am still waiting to hear back from Scottish Equitable if I can make the transfer at all. But averaging in seems a good idea.

 

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This thread either seems to be rockets when prices rise or - let the price fall further because I want to buy more -

 

has anyone bought any fakes from China ?? http://www.abovetopsecret.com/forum/thread442271/pg1

 

No, I haven't bought any fakes to my knowledge :unsure: . I have the power of scales and I can measure and touch my gold. The density is right so I know it should be either tungsten or gold, and tungsten is hard and has a high melt point so would be hard to fashion into coins. In an ETF you can't check like that! I think Jim Sinclair addressed this quite well..

 

 

Jim,

 

Two rumors are starting to move around through the gold chat rooms. I wanted to give you a heads up so you can be prepared to quickly inform the community about them as you see fit. Both rumors have potential to shock weak gold holders into selling.

 

 

1. Volcker replaces Timmy. This could lead to a kneejerk gold selloff (based on the past) and equity volatility in both directions.

2. A gold exchange traders fund may have been holding bogus gold bars which have been fabricated by China. This piggybacks some phony Chinese gold coins that have shown up through an article in coin world. This would supposedly cause a selloff in GLD, therein frightening the community.

 

 

CIGA Ken

 

Jim's reply:

Dear Ken,

 

 

1. Volcker's history of jamming rates could only occur even then with the full support of the sitting administration. To believe anything like that could happen is madness. Replacing the Secretary of the Treasury by this Administration at this time is only something a chat group could come up with.

2. There is reality to fake gold. China is a whipping boy. We have more criminals in the West and need not look to Asia for crime. Maybe start looking in Washington and then move outwards.

 

If an ETF is in paper gold that fails or has purchased fake gold that is a problem for the holders of that fund and is bullish for gold. Buyer would stop buying paper gold except on the COMEX where they would take delivery out of the COMEX warehouse and stop those criminals from manipulating the gold market. I am always amazed at how silly people can be when it refers to gold.

 

The internet is a tool of manipulation across the board. Those that believe either of the above chat site madness as negative to gold are raving idiots.

 

Volcker would be bullish for gold as the Father of the Federal Reserve Gold Certificate Ratio, modernized and revitalized.

 

What is happening you ask? The Chairman of the Fed is speaking so gold should be lower and the US dollar should be higher. This is a market applause for his total fabrication of fact. Traders knowing this will jump on these directions, having succeeded in the past .

 

Listen to the Senators question Bernanke. People are getting red in the face mad at this ongoing monetary madness.

 

Consequences will not be voided .

 

Hyperinflation is the end of all this madness, lies and outright theft.

 

Respectfully yours,

Jim

 

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