enrieb Posted March 5, 2009 Report Share Posted March 5, 2009 The Dow Jones is now worth 7 ounces Link to comment Share on other sites More sharing options...
grumpy-old-man Posted March 5, 2009 Report Share Posted March 5, 2009 As I said, the bottom is in. This is fact, not a view, and is all you need to know. All else is spin and market manipulation. PS: TA in gold is the best way to the poorhouse. Link to comment Share on other sites More sharing options...
grumpy-old-man Posted March 5, 2009 Report Share Posted March 5, 2009 Gold suddenly jumped up as you spoke cg! I usually have a cast iron rule that I follow. It is "Don't let others do your thinking for you". It has served me well in the past, but I have made an exception for you cgnao. Thanks. If you followed &/or read his cg's early stuff & recent stuff you can see why he has his followers. He used to post a lot more explanations behind his posts, but too many posters p1ssed him off imo. Now they are paying the price, quite literally. cgnao you are one clever, connected guy. Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 6, 2009 Author Report Share Posted March 6, 2009 ... I suppose what i'm asking is why do you believe that the idiots in charge will definitely fail? ... Link to comment Share on other sites More sharing options...
malvern hills Posted March 6, 2009 Report Share Posted March 6, 2009 QUOTE (malvern hills @ Mar 5 2009, 05:56 PM) * ... I suppose what i'm asking is why do you believe that the idiots in charge will definitely fail? ... oxymorons Link to comment Share on other sites More sharing options...
jamesspeed Posted March 6, 2009 Report Share Posted March 6, 2009 Interesting sentiment: tallys a little with Bubb's statement in the call this morning that there are no buyers left in Gold. It might be time now to sit it out and wait for the panic buying of gold to start. Maybe 18months from now, we will see that panic. Perhaps this year ? http://www.gold-eagle.com/editorials_08/willie030509.html Link to comment Share on other sites More sharing options...
G0ldfinger Posted March 6, 2009 Author Report Share Posted March 6, 2009 Interesting sentiment: tallys a little with Bubb's statement in the call this morning that there are no buyers left in Gold. ... A majority has no gold whatsoever yet (except for their wedding bands). This might change. EDIT: Also, what about the 4,000 tonnes the Chinese want to buy? Lots of buying power in gold out there. Link to comment Share on other sites More sharing options...
electroweak Posted March 6, 2009 Report Share Posted March 6, 2009 A majority has no gold whatsoever yet (except for their wedding bands). This might change. EDIT: Also, what about the 4,000 tonnes the Chinese want to buy? Lots of buying power in gold out there. I didn't say I agreed, but it is interesting, isn't it? I think at some stage there will be a panic into gold, real gold, but i don't know when that will happen. Maybe in the next 18 months. Something like the FDIC running into trouble might be the trigger. Bair Says Insurance Fund Could Be Insolvent This Year (Update1) "Without these assessments, the deposit insurance fund could become insolvent this year,” Bair wrote in a March 2 letter to the industry. U.S. community banks plan to flood the FDIC with about 5,000 letters in protest of the fees, according to a trade group. ... The FDIC last week approved a one-time “emergency” fee and other assessment increases on the industry to rebuild a fund to repay customers for deposits of as much as $250,000 when a bank fails. The fees, opposed by the industry, may generate $27 billion this year after the fund fell to $18.9 billion in the fourth quarter from $34.6 billion in the previous period, the FDIC said. The fund, which lost $33.5 billion in 2008, was drained by 25 bank failures last year. Sixteen banks have failed so far this year, further straining the fund. ... Bair rejected arguments that the agency should use government aid to rebuild the fund. The FDIC has authority to tap a $30 billion line of credit at the Treasury Department and legislation pending in Congress would boost the amount to $100 billion. “Banks, not taxpayers, are expected to fund the system,” Bair said. Asking for taxpayer support “could paint all banks with the ‘bailout’ brush.” Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 6, 2009 Report Share Posted March 6, 2009 If you followed &/or read his cg's early stuff & recent stuff you can see why he has his followers. He used to post a lot more explanations behind his posts, but too many posters p1ssed him off imo. Now they are paying the price, quite literally. cgnao you are one clever, connected guy. hmm maybe or maybe he's just read a few history books Link to comment Share on other sites More sharing options...
FWIW Posted March 6, 2009 Report Share Posted March 6, 2009 hmm maybe or maybe he's just read a few history books I tell you that 'r' does read his history books...and then some! http://www.enterprisecorruption.com/?page_id=36 Link to comment Share on other sites More sharing options...
dietcolaaddict Posted March 6, 2009 Report Share Posted March 6, 2009 I'm in the mood for a bit of gold watching this friday afternoon. Link to comment Share on other sites More sharing options...
sine270 Posted March 6, 2009 Report Share Posted March 6, 2009 The Dow Jones is now worth 7 ounces Any idea what it was worth at its peak? Must have been up at 20/25 ish Link to comment Share on other sites More sharing options...
FWIW Posted March 6, 2009 Report Share Posted March 6, 2009 I'm in the mood for a bit of gold watching this friday afternoon. Looks like the 'yanks' have just woken up to and realised what their constitution stipulates as money... Meanwhile, after QE (aka debasement of Sterling) the £ is up 0.7%...?????wtf????? Link to comment Share on other sites More sharing options...
lowrentyieldmakessense(honest!) Posted March 6, 2009 Report Share Posted March 6, 2009 Any idea what it was worth at its peak? Must have been up at 20/25 ish wasnt it about 44 Link to comment Share on other sites More sharing options...
dietcolaaddict Posted March 6, 2009 Report Share Posted March 6, 2009 Looks like the 'yanks' have just woken up to and realised what their constitution stipulates as money... Meanwhile, after QE (aka debasement of Sterling) the £ is up 0.7%...?????wtf????? I believe from old research I did, that gold has followed a seasonal pattern in 7 of the last 9 years. With all this money creation, I'm increasingly of the view that 2009 may not be seasonal at all. All conventions are out of the window, it seems. Link to comment Share on other sites More sharing options...
romans holiday Posted March 6, 2009 Report Share Posted March 6, 2009 I believe from old research I did, that gold has followed a seasonal pattern in 7 of the last 9 years. With all this money creation, I'm increasingly of the view that 2009 may not be seasonal at all. All conventions are out of the window, it seems. Open season on banks? Link to comment Share on other sites More sharing options...
dietcolaaddict Posted March 6, 2009 Report Share Posted March 6, 2009 Open season on banks? Shooting season on banks! Stag shooting season (Scotland) 2009 Jul 1 - Oct 20 Banker Shooting season (Worldwide) 2009 Jan 1 - Dec 31 Link to comment Share on other sites More sharing options...
romans holiday Posted March 6, 2009 Report Share Posted March 6, 2009 Shooting season on banks! Stag shooting season (Scotland) 2009 Jul 1 - Oct 20 Banker Shooting season (Worldwide) 2009 Jan 1 - Dec 31 Wouldn't be surprised to also see a few bankers tarred and feathered before this is all over. Doubt we will have any doldrums this year.... most probably very volatile. Hold onto your hat. Link to comment Share on other sites More sharing options...
enrieb Posted March 6, 2009 Report Share Posted March 6, 2009 Any idea what it was worth at its peak? Must have been up at 20/25 ish It was about 40/1 in 2000 when the Dow was around 10,000 and gold was 250ish, I can't remember the exact figures. When the dow hit its nominal peak over 14,000 the ratio was 20/1, six months ago it was 15/1 and now we are 7/1. There are some good charts around somewhere, I'll try to find them. http://bigpicture.typepad.com/.shared/imag...ative_ratio.PNG Link to comment Share on other sites More sharing options...
creditcrunch Posted March 6, 2009 Report Share Posted March 6, 2009 More main stream media attention, telling the public how to buy gold and why they should do it now that QE is in place. http://www.telegraph.co.uk/finance/persona...-gold-bars.html Link to comment Share on other sites More sharing options...
bitbigt Posted March 6, 2009 Report Share Posted March 6, 2009 Meanwhile, after QE (aka debasement of Sterling) the £ is up 0.7%...?????wtf????? ...actually no: its the dollar went down early in the day. I think it will take a few days/weeks, but people will start to understand the QE makes each existing pound less valuable, and they'll start selling Sterling assets. I therefore predict near parity with the dollar sometime this year, so long as the USD remains a safe haven and doesn't suffer its own downfall before that. Link to comment Share on other sites More sharing options...
FWIW Posted March 6, 2009 Report Share Posted March 6, 2009 ...actually no: its the dollar went down early in the day. I think it will take a few days/weeks, but people will start to understand the QE makes each existing pound less valuable, and they'll start selling Sterling assets. I therefore predict near parity with the dollar sometime this year, so long as the USD remains a safe haven and doesn't suffer its own downfall before that. As i wrote that I realised that yesterday they only announced what they will do. I think it starts in 3 months time(or 1 month lasting for 3-dunno anymore!)... Link to comment Share on other sites More sharing options...
DoctorSolar Posted March 6, 2009 Report Share Posted March 6, 2009 Interesting sentiment: tallys a little with Bubb's statement in the call this morning that there are no buyers left in Gold. It might be time now to sit it out and wait for the panic buying of gold to start. Maybe 18months from now, we will see that panic. Doesn't look to me as if there are no buyers left in gold. I get paid in Sterling and now convert whatever I have left over at the end of the month in to gold and silver regardless of the price. So chalk me up as a buyer! For the most part it looks to me like gold is now in strong hands that wont part with it at current prices. And in any case why wait for the panic to buy!? Surely the first rule of panic is to panic first? Link to comment Share on other sites More sharing options...
electroweak Posted March 6, 2009 Report Share Posted March 6, 2009 Doesn't look to me as if there are no buyers left in gold. I get paid in Sterling and now convert whatever I have left over at the end of the month in to gold and silver regardless of the price. So chalk me up as a buyer! For the most part it looks to me like gold is now in strong hands that wont part with it at current prices. And in any case why wait for the panic to buy!? Surely the first rule of panic is to panic first? Agreed; it's not my sentiment! I bought last week; I have about as much faith in sterling to protect my little wealth as a chocolate fireguard. EDIT: i think what i was trying to say was that it might be a technical traders viewpoint. Link to comment Share on other sites More sharing options...
DoctorSolar Posted March 6, 2009 Report Share Posted March 6, 2009 Agreed; it's not my sentiment! I bought last week; I have about as much faith in sterling to protect my little wealth as a chocolate fireguard. EDIT: i think what i was trying to say was that it might be a technical traders viewpoint. Apols chris ct, hope my comment didnt come across as a dig at you. Looks like we are both of the same opinion. In this climate i just dont have the nerve to trade my gold. I am firmly in the accumulate what you can every month camp here. In 18 months time I hope to be in the position to be watching the panic buying safely in the knowledge I already have sufficient insurance. Link to comment Share on other sites More sharing options...
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